Centamin Share Discussion Threads

[arkouda] 19/8/2020 22:34

My assumption that there would be something in the FOMC minutes to boost gold looks like it was way off the mark. Dollar strength seems to be the culprit but I’m at a loss to understand the sudden appeal of the greenback.

[martinfrench] 19/8/2020 21:57

Money funneling into main indices, s and p new all time high.

Think with the indices this strong hd will struggle, need a mini crash or sliw descent for gold to get going

Sometimes I think gold just gets in the way if itself

[stevedaytrader] 19/8/2020 21:52

I would still say gold is strong for the next few weeks and longer term.

[redbaron10] 19/8/2020 21:37

Not for the first time gold price action acts counter to logic.The Fed minutes painted a dark picture for the US economy ongoing into this pandemic, but that was totally disregarded and US yields and the dollar popped.No good trying to reason or understand the vagaries of the market,just wait for events to pan out in the near term.Gold fundamentals haven't changed and is still up $500oz from the March lows.It is notable we have had 2 big percentage drops in price in a little over a week.Back to $2000oz by the end of next week or $1875oz? Place your bets.

[azalea] 19/8/2020 19:46

Well, not that i'ts any consolation to investors/traders in gold, but all three U.S. main indexes have fallen with the DJIA from 112 to -25, S&P 500 from 9 to -6 and Nasdaq from 35 to -33.

[arja] 19/8/2020 19:44

and hence gold lower and now at $1936 !

[stevedaytrader] 19/8/2020 19:43

Having said this, remember that gold was
at ~1955 at UK market close.

[stevedaytrader] 19/8/2020 19:31

So far Arkouda, not good- FED (FOMC) minutes didn't really say a lot in my view, but then it's difficult to know what the markets expected - and this are simply the minutes from a few weeks ago.
It has, for the moment, pushed the dollar higher.

[arkouda] 19/8/2020 18:40

Gold got a right kicking today. It’s not the first time this has happened prior to the release of news that may lift the price significantly. This drop takes some of the heat from any rise as it comes from a lower start point. We have to wait to see what happens.

[azalea] 19/8/2020 13:23

redbaron10 -422
Your right, the FOMC announcement today could send the dollar index currently at 92.30, notably lower. IF it does, that will reinforce the view of Stephen Roach who has forecast an ultimate fall of 35% and the p.o.g at $5000.

[redbaron10] 19/8/2020 12:36

As to kennyp52 point about various factors affecting a gold miner's price just consider HUM's position after the coup in Mali.Anything can come out of a seemingly clear blue sky that you didn't legislate for.You take a risk investing in geopolitically sensitive areas.

[terry barnett] 19/8/2020 12:13

Head and shoulders forming graphically.

[martinfrench] 19/8/2020 09:47

No one has any idea why Azalea is here, doesn't make sense, as others have said just buy a gold etf and be gone, simple really.

Maybe in it for the attention seeking.

[trader536] 19/8/2020 09:38

Kenny the clown can you explain how one ramps the price of gold?

[kennyp52] 19/8/2020 09:26

Azalea is here in my view because he sees the hedge of a dividend paying established and extremely well financed business that he thinks will go in straight lines with the price of gold . He could be in for a rude awakening as so many different things impact gold miners share price and usually quite dramatically .

[azalea] 19/8/2020 09:22

Umat--
Good morning. Given the state of the U.S. economy and the views of A.M. Stephen Roach, Peter Schiff ,Charles Renner, Frank Holmes, Andrew Maguire and others, I am feeling mega positive in the p.o.g story going forward. If I was equally confident in my ability to deal with ETF/geared funds etc, I might do so. That said, I will look into ETF ans try to understand what it involves.

stay safe my friend

[plat hunter] 19/8/2020 09:09

Most Gold funds are made up of producers.For a pure gold trade you need a pure gold etf or just buy the metal

[azalea] 19/8/2020 08:49

Given previous large daily rises in the p.o.g, I do not see any problem with the overnight drop, one step back two steps forward.
Given Alasdair Macleod's recent statements on the Kaiser Report, he clearly has not changed his mind from when he said (circa 5 weeks ago) that other than the cash he needed to keep for spending on daily expenses, all his money was invested in gold.

[kennyp52] 19/8/2020 08:10

The constant ramping of gold price seems to be having the opposite effect 🤷🏻

[larry laffer] 19/8/2020 07:26

Too late they have turned it off now.........