Fresnillo Share Discussion Threads

[jamesiebabie] 18/3/2016 08:29

Fascinating watching the USDYEN as it is under serious pressure to go down; last night the key support was broken twice for it to act as support again, however now it does appear to be ender strain again.

Fun and games.

[jamesiebabie] 18/3/2016 06:44

At the close silver was $16, yesterday; as I type the silver price is $16.10. :)

[jamesiebabie] 18/3/2016 01:24

Some folk may want to listen to this man, I like his podcasts. He talks about gold, silver and the miners along with much more.

Peter Schiff:

[jamesiebabie] 17/3/2016 20:13

Post removed.

[topicel] 17/3/2016 20:05

Well looking at all the indicators in the States there is profit taking going on and so I'm inclined to think we will see the same in the morning now.

Ten quid looks like a natural resistance point again it seems. For how long though? The drop percentage wise before today had not been in line with the fall in gold and silver earlier in the week, so keeping above 1250 and 15.50 should be fine for Fres to retain closeness with ten pounds.

A new game from Monday. Anyway, what do you reckon tomorrow's silver close will be, or need to be? Personally I doubt it will be so short term of an influence.

Topicel

[jamesiebabie] 17/3/2016 20:04

For those interested; this is silver priced in GBP which is always useful to follow as it takes into the FOREX.

It is this reason why imho that everyone should hold physical silver. The USD is world reserve currency and is therefore likely to gain strength and therefore the GBP will weaken over time making the divergence greater.

I will update this chart on a bi-monthly basis to show the effect.


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[jamesiebabie] 17/3/2016 18:59

Top- tomorrows close is THE key [silver], that is.

Here's one I like; the management have plenty of skin in the game and THEY are probably the best PM mining management in the business!!!!! They have done it before, not once but twice. Please DYOR


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[topicel] 17/3/2016 16:35

Indeed jamsie, I thought $16 ag was a neat pivotal point too. The whole pattern is one of momentum and let the 'trend be your friend' this year, aside from the many geopolitical issues like Brexit, migration crisis, Trump, faltering economies and dovish-to-negative Central Banks.

It really is crazy not to hold here and accumulate on the dips as 2016 rolls on by, those that do should be rewarded and, if not, hedge elsewhere should stagnation and dollar weakness be averted.

That is what the big ETF funds are seeing, so who am I not to swim right along?!

As I said earlier, ten pounds tonight is impressive and if Wall Street, and especially Asia with their fondness for PMs, follows on again tonight we could even see the two-year high of £10.40 broken tomorrow. After that, I also agree, depending on volume, the next leg up could be explosive.

Thanks for you thoughts today. I'm sure we've overlapped elsewhere before, if not actually exchanged observations. Good luck.

Topicel

[jamesiebabie] 17/3/2016 16:15

Top - it looks like the USDJPY is having another go.

If you look at Ag on the monthly chart, the MACD is showing a massive divergence; the trend could be explosive if/when $16 is taken out. Volume will be key.

[topicel] 17/3/2016 14:54

The yanks are still buying the likes of Barrick Gold and Newmont although the pace has, naturally, slowed from yesterday's hectic pace.

The dollar-yen is indeed edging towards falling under 111 so when we close the direction of these two markets/trades could indicate, I think, if we breach £10. To my simple mind, if we do that tomorrow - or with a fair wind later this afternoon - we could assault our two-year high of August 2014 quite quickly.

The momentum for safety is resuming it seems. A big three million buy on Fresnillo after hours last night has clearly been getting filled with a struggle considering this price action...

Topicel

[topicel] 17/3/2016 14:15

Voted your last post up Jamesiebabie, as those simple truths needed to be repeated. Gold is money, accepted by all throughout history, while as you say, the others are currencies and come and go.

Not as simple as that really but in terms of the present investment case it is!

111.77 dollar-yen as I type, so a little way to go but all things being equal another 'shock' must be around the corner for Yellen to surprise to the dovish side, and the markets have recognised that fact....

Topicel

[jamesiebabie] 17/3/2016 12:40

Top - All we have to remember is that the race to the bottom is due to the fiat currencies and they are all relative in a hypothetical world; whilst the PM's are the real deal and have been for millennia. The PM's are the default position and always will be.

As soon as confidence wains, then the PM's will bloom. The FED yesterday added some doubt imho and therefore the PM's went up. Gold is money; the others are currencies. It's simple really.

[topicel] 17/3/2016 10:26

lol, race to the bottom indeed. The UK pound is using Brexit fears to devalue against the euro and it has worked well, no matter what Draghi tries...

If we leave then sterling will capitulate and foreign holidays will be a think of the past for all but the wealthy. If the Yellen is also trying to devalue the dollar on the quiet then I agree, the gold bulls will be laughing.

USD/JPY at 111 eh? I'll watch that one too now. Lol. As long as it remains volatile then investors in PMs, either via ETFs or more directly or even in shares such as Fresnillo/Randgold in FTSE and Barrick/Newmont/Goldcorp etc. in NYSE should reap rewards from being long.

Topicel

[jamesiebabie] 17/3/2016 09:27

Top - I suspect the BoJ may have something to say tomorrow, so watch for further big swings; this is a race to the bottom between all currencies.

[jamesiebabie] 17/3/2016 09:26

Top - if the USDJPY breaks below 111, then gold should get above $1300.

[topicel] 17/3/2016 09:05

Ok, the trade pair of choice then! A weaker dollar to yen is likely to move money into gold for no other reason than they see the support for their sugar rush on that pair trade broken?

What is the support mate? I am looking to $1300 soon for gold and would be interested in watching how the dollar yen trade moves that closer.

Tia!

Topicel

[jamesiebabie] 17/3/2016 08:49

Top -forget about oil, this is about the USD v JPY; it's on the cusp of breaking support; if it breaks gold will shoot up imho.

[topicel] 17/3/2016 08:36

You might mean decrease but I am reporting the consensus view that the Fed will raise twice more this year, probably after June.

I agree that a hint of sticking, not twisting, exists, and hence why gold is stronger and, as predicted, people are piling into safer haven shares like Fresnillo this morning, but a decrease is only being whispered as of now as the election year will preclude it IMHO, unless the growth in the IS economy is all smoke and mirrors!

We need Jamesiebaby to give us a fresh chart view after we get to ten pounds again here. Oil prices holding are all that is stopping us now for a while.

Topicel

[goldenshare888] 16/3/2016 21:42

Fed raise rates this year?!!

Are you joking!

You surely mean decrease.

Miners BOOM coming!

Don't believe the BULL----!

[topicel] 16/3/2016 20:51

Not so sure you'll see the $14.90 silver before the 16 dollar level jamesiebaby, after the quite dovish Fed comments from Janet Yellen today. The buying of PMs simply took off as she spoke, with interest rate hikes off the table for sure until June it seems, and two, at most, rises this year rather than four as predicted only last December...

But you are more correct with the gold call as ABX in New York has followed the high you mentioned with a further surge of 7%. It bodes well for Fresnillo longs tomorrow if the link you suggest is strong.

Always a safe haven with this volatility around.

Topicel

[jamesiebabie] 16/3/2016 08:37

I'm expecting to see Ag go to c.$14.90 today and then heavy buying over the coming weeks to take silver to at $16.

[p4ulinho] 16/3/2016 08:33

abc you also said the hui was going to 35 when it dipped below 100. Well done you called the bottom.

gold has dropped $50 yet the shares have barely flinched.

[jamesiebabie] 16/3/2016 08:33

NYSE:ABX - closed at year highs last night; gold leads silver and ABX leads FRES.

[jamesiebabie] 16/3/2016 08:09

A possible view on the FRES chart.

EDIT - the big 1 and 2, should infact have been labelled [i] and [ii].


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