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[louie2010] 10/4/2024 06:30

Pension planner has got excellence number and shows what a complete idiot he is .

[louie2010] 09/4/2024 22:07

Keyboard warrior is quiet sign of misguided intelligence. What a buffoon Gordon brown sold out gold. We had little reserves like most small countries yet gold price was down

[louie2010] 09/4/2024 15:51

What a load of garbage. A few ton of uk gold sent down gold you must be confused that we weren't USA and we had fort nox more like . You need help as clearly gone in head

[excellance] 09/4/2024 12:14

Gordon Brown sold the gold and bought dollars yen and 40% went into Euros.

He sold the gold to support the value to currencies, and in so doing he brought the price of gold down.

[louie2010] 09/4/2024 09:50

This guy is excellent talking to himself keyboard warrior he is

[louie2010] 08/4/2024 13:32

Another Tory puppet. No mention of everything that's failed in uk from 15 years of Tory borrowing trillions but it's helped people like him get very rich .

[louie2010] 08/4/2024 11:34

He is a Tory puppet probably politically motivated.

[spike501] 08/4/2024 11:17

Pensionplanner

"So you really think that Gordon Brown in telegraphing to the market his INTENTION to sell tonnes of gold way in advance, and using an auction apparently for the first time, that it was intended to PUSH UP gold price?"

No, where have I claimed anything remotely that to be the case?

Your original claim is this, using an Eddie George quote as support..

"No doubt the USA and the UK would love to drop the gold price, as they conspired to do 'AT ANY PRICE, AT ANY COST' in previous years:"

Yet Eddie George was against Gordon Brown selling the gold and pre-announcing the intention - why would the Governor BOE be against it, if he was also interested in manipulating the price lower? And following the announcement, why would Bernanke be against it, if also wanted to manipulate the price lower? And if Central Banks were interested in manipulating the price lower, why did they then conclude the Washington Agreement to support the price?

And why after all your research concludes you that some of the most power countries and central banks actively want to manipulate the price of gold lower, would you then go ahead and invest in gold?

[king suarez] 08/4/2024 11:14

Spike - no need to guess, use my figures above?

If HY 2023 production had been 17k instead of 14.4k then the $4m increase in cost would be split over 17k oz = $235 real increase in cash cost/oz - the rest of the $ rise in cash cost is just due to this being split over lower production.

[spike501] 08/4/2024 11:07

Dorfmeister - H1 TCC was negatively impacted by the mill outages in Q2 which reduced the amount produced, but likely without reducing any cost (ore mining for example continued as normal).

I'd suggested of the $460 increase from 2022 was around 50% driven by increased costs and 50% driven by reduced production, I'd expect TCC at 40k oz per year to be in the range $1100-1200.

[king suarez] 08/4/2024 08:18

TCC rose y-o-y by about $4m for the HY to June 2023, which on 40k production would be around $200/oz.They produced 14.4k oz at $1,340 = $19m cost v 17k oz at $880 = $15mGold price is now around $400 higher, which on 40k oz production is an extra $16m pre-tax - approximately double the increase in cost from HY 2022 to 2023.Latest production update indicates they're not far off 40k annualised run-rate.

[dofmeister] 08/4/2024 07:32

TCC was already $1344 at June 23 and will have risen a lot further looking at Polymetals Kazakh cost increase.

[excellance] 07/4/2024 19:02

Gold is $2330 per ounce, silver is $27.50 and we produce a little silver too don't forget...

Our costs per ounce must have risen same as everyone else over the last year, maybe to $1000 per ounce, but we must be raking in profit in buckets at the moment.

I know Kazakhstan has experienced some seasonal flooding as usual recently, nothing new there if it affects us a little, but I wonder if the new kit is up and running?

Really quite excited about the next update, I hope they mention TS.

[excellance] 07/4/2024 11:58

So Gordon Brown sold 400 tonnes of treasury gold at $256 per ounce in 17 auctions over three years, despite warnings not to by others including Ben Bernanke. The proceeds were invested into foreign currencies, 40% into the new fangle Euro, which Tony Blair the pm at the time was a big supporter of, but also the dollar and yen.

The sale was indeed telegraphed to markets, allowing front running and shorting, even after a 20 year bear market for gold.

So the sale was political, to promote the holdings of fiat versus gold, to support the value of currencies and keep interest rates low artificially, but also certain banks had major shorts on gold which had begun to rise, so GB selling the gold at $256 got the Rothschild bank out of a hole and made them billions...wheels within wheels.

[trader465] 07/4/2024 11:29

Gordon Brown sold 60% of the uk gold reserves between 1997 and 2002. That’s about 24 years ago, what is the significance to ALTN 24 years later?

[1hercule] 07/4/2024 11:05

Perhaps Spike you can come up with a reason why Gordon Brown telegraphed his intention to sell a large quantity of gold?

[pensionplanner] 06/4/2024 14:27

I don't do research for you, I do it for me. You only have to look, but if you want to discount any source as not credible that's up to you.

So you really think that Gordon Brown in telegraphing to the market his INTENTION to sell tonnes of gold way in advance, and using an auction apparently for the first time, that it was intended to PUSH UP gold price?

I don't think so.

[spike501] 06/4/2024 13:27

Show me a credible source for that quote.

If Eddie George wanted to manipulate the price of gold down, why it is recorded he strongly objected the UK Government announcing the selling of a substantial part of its reserves?

If Central banks wanted to manipulate the price of gold down, why the Washington Agreement in the first place.

Is there some manipulation in gold markets? Sure, like in most other markets.

Are Central Banks in on some sort of coordinated conspiracy to manipulate gold prices down - no of course not, but its crank websites that suggest they are that are the onl sources of that quote.

[pensionplanner] 06/4/2024 13:15

Ha ha. The author was Eddie George.

So why on earth do people think Gordon Brown telegraphed to the market IN ADVANCE the intention to AUCTION so many tonnes of gold. Certainly wasn't to maintain the gold price?

So much physical gold around that the US and the UK have tried everything not to repatriate gold, and where some countries were quoted it being repatriated in years.

Thankfully I'm off for a while so hope we have some decent news soon

[spike501] 06/4/2024 12:53

"In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999. Mr. George said "We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."

You guys really are gullible and lap up any nonsense on the internet.

The Washington Agreement was in response to uncoordinated sales of gold by Central Banks which was risking driving the price of gold down - it was to stabilise the market and support it, if they'd have wanted gold price to reduce they'd have done nothing, there would have no reason for the Washington Agreement.

Part of the reason in the run up was the UK Governments decision in Aug-99 (under Gordon Brown) to sell a substantial part of Gold reserves - against the strong objections of Eddie George.

Gold start the year at $295, in the wake of the announcement by the UK Government it dropped to $255 and following the Washington Agreement the max it reached was $335 and then ended the year at $290 - so apparently this massive central bank manipulation resulted in gold prices ending the year $5 lower than at the start and if they hadn't bothered with the Washington agreement it would have been $40 lower.

Its a completely unsourced quote that can only be found on weird conspiracy websites and repeated on bulletin boards and doesn't match with anything that actually happened in 1999.

[excellance] 06/4/2024 10:42

Apparently the massive immigration into the USA over the past two years has really boosted the jobs numbers, as young male Latinos clamber for any work they can get while old rich white folk sit back and retire or reduce the work they do putting a drag on the economy.

[pensionplanner] 06/4/2024 08:04

few believe the job figures any more. The figures are interesting but the rhetoric I leave to others to agree or disagree with.

[excellance] 05/4/2024 16:00

Gold going for it towards close, the markets suspect that the lunes are going to escalate this weekend?

[pensionplanner] 05/4/2024 14:12

No doubt the USA and the UK would love to drop the gold price, as they conspired to do 'AT ANY PRICE, AT ANY COST' in previous years:

"In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999. Mr. George said "We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."