Centamin Share Discussion Threads

[huncher] 23/7/2020 17:19

Redbaron agreed but that won't stop the Fed from trying although I do think the market will blow them away eventually. T&C's I am a mere mortal but they are my thoughts.

[pleaty1] 23/7/2020 17:12

Interested to know why people think that CEY shod track with the gold price. Surely we need a sustained higher average than the previous month/quarter.

Is anyone familiar with the procedure of how CEY sell their gold. I can't imagine they are running down to cash for Gold everytime the POG goes up a few dollars.

Do they sell daily, monthly, quarterly. Can they take advantage of a sudden spike in price. Or do they as I suspect, sell at certain periods, therefore they will only benefit if this becomes a prolonged rise in POG.

[redbaron10] 23/7/2020 17:04

PM prices seem to have a momentum of their own.Ever since Trump donned a face mask in public and said the pandemic would get worse before it got better then investors are selling the dollar,and with equity markets at these heights,the safest refuge is PMs.Excusing the pun,but the mask has slipped from those in the markets trying to convince everyone a V-shaped recovery is on.With lockdowns still prevalent and high global infection rates daily,and no vaccine yet available the pain is only just starting for some economies.

[huncher] 23/7/2020 16:56

azalea. The Fed is doing everything within it powers to maintain confidence in the market - all bets are off after November. A rising gold price strikes at the heart of their efforts and given leverage of 3,4,500%(who actually knows it could be more) of paper to gold and the cheap money/guarantees to their proxies they effectively can influence if not control the gold price,at least in the short term.

[ukgeorge] 23/7/2020 16:38

£2 tomorrow :)

[azalea] 23/7/2020 16:32

Are we going to see the p.o.g hit $1900+ today?. CEY share price is out of kilter with the p.o.g.

[martinfrench] 23/7/2020 16:24

well i took advantage of 196.4, hope some of you did

[martinfrench] 23/7/2020 16:22

in summary, gold is manipulated.

and for juju's point, america could be risking losing the dollar as reserve currency, which has all kinds of benefits !

[martinfrench] 23/7/2020 16:22

oh bloody hell azalea, the turn in gold this afternoon occured because the dollar index went from 0.2% positive to the now 0.18% negative.

reason ?

delayed reaction to jobs data, tensions elsewhere, or any other number of things

paper gold is the theory that the amount of gold in physical form is overtraded and the paper form is not a true reflection, therefore you could argue fake.

[azalea] 23/7/2020 16:17

jujuj
How and why will the "yanks want to block new gold high".

Huncher
paper gold?

The circa $15 gyrations in the p.o.g, are if nothing else interesting;.but what do you think is causing them?

[martinfrench] 23/7/2020 16:05

its one of my new theories, having observed this for last 200 years.

first half hour and last most interesting

[larry laffer] 23/7/2020 15:58

Could be a lot of things


Could even be a big order being worked.....

[martinfrench] 23/7/2020 15:53

is this the reduce price in last half hour effect to allow for favourable auction rates, then closes higher ?

[huncher] 23/7/2020 14:44

Yep wait for a Fed proxy to dump millions of paper gold.

[juju44] 23/7/2020 14:39

yanks will want to block new gold high. Now it will get interesting

[martinfrench] 23/7/2020 13:05

unemployment numbers out 1.30, maybe provide something....

[sotolo] 23/7/2020 12:55

Martin I agree on both, ie I expect gold to pullback as the assault on the all time high should take a few attacks, but consider Cey undervalued as on a PE of a little over 12; on a PE of 15, which I think it deserves, the price would be nearer £2.50
So I don’t want to try to time the pull back and then be out when it rises, especially in the current very fast market, so just sit back and enjoy...Cey will have periods shootin up and periods of consolidation which may not exactly mimic the gold price

[juju44] 23/7/2020 11:52

Gold at all time closing high . Blue sky arriving

[azalea] 23/7/2020 11:50

looks like p.o.g. is waking up.

[juju44] 23/7/2020 10:46

200p barrier to be expected but when through it we should be on our way

[larry laffer] 23/7/2020 10:45

Most market makers try to finish up holding no stocks at all at the end of the trading day. They can’t control what happens after hours and consequently avoid having any volume of any significance on their books.

They don’t offload stuff to square their accounts unless they have margin to pay they don’t have the cash for.

In a few instances recently when an account doesn’t have cash to settle at the end of the trading day the company folds overnight and their assets are auctioned in a fire sale before the market opens next day.

If you can get cheap shares by whatever means then fair enough but it does and often work the other way as well. I.e The person on the other side of the trade you succeeded with has sold at a lower price than normal.

[rose_by_another_name] 23/7/2020 10:35

I wonder if illiquidity might help persuade a
market maker to take a lower price if he is left
with stock on the books at the end of the day.

[martinfrench] 23/7/2020 10:11

rose its not a bad tactic, especially with centamin, a lot of times we get dropped twds the 4.30 auction, so people get in at "nice rates"

not sure if yours is part of this action, it probably is because 4.30 is cutting it fine.

doesnt work so much with slp, pretty illiquid (getting good auction rates i mean)

[rose_by_another_name] 23/7/2020 09:53

Martinf- I put in a limit buy during open hours,
at 46 pence, and it was filled after 4:30, I
suppose by a market maker who wanted to square
his book. I've done this several times with
different shares. I trade on IG. Don't know if
this is possible with other brokers. I was
surprised first time it happened, but now I do
it as a tactic.

[azalea] 23/7/2020 09:52

Edit post 645
p.o.g $1905-1920