Golden Prospect Precious... Share Discussion Threads

[papillon] 08/1/2024 19:07

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Bitcoin (BTC) breaks out of bullish ascending triangle. This BTC daily Ichimoku chart is Strongly Bullish.

PS hopefully the GPM share price soon follows BTC

[papillon] 08/1/2024 11:38

"It has certainly been a good few weeks for Gold Bulls. Daily, Weekly and monthly all-time highs were put in at the end of November and following a seemingly inevitable pull-back, Gold put in all-time quarterly and yearly highs (in US$ terms), causing all kinds of excitement from technical analysts. And then it drifted, closing this week at $2,045."

[arbus5000] 08/1/2024 07:44

there's a CRE debt maturity crisis in the US for offices etc so a few defaults are likely. its smaller than the subprime crisis though!

[papillon] 07/1/2024 23:06

"so something must be coming soon...Corona 2.0, Climate Crisis 1.1, any ideas?"

How about the USA's massive debt mountain that different world highlights in a recent post! He provides a link to an article saying this debt mountain is currently $35trillion and growing. That's already happening. That's why central banks around the world are buying Gold and why the Gold price chart is so bullish. It's only a matter of time before GPM, a geared play on the Gold price, takes off!

[bitgold] 07/1/2024 19:40

Bailed out of this to some extent in 2022 at 55/60p, yet still hold too many and saw the fall to 25p painfully. I reckon it is bottoming about now, so something must be coming soon...Corona 2.0, Climate Crisis 1.1, any ideas?

[papillon] 07/1/2024 14:54

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Gold price monthly Ichimoku chart showing the Strongly Bullish IH&S. This chart has been bullish since late 2019.
Unfortunately junior Gold miners sp's will only take off once Gold goes off on a Strongly Bullish run like it did during 2020. Junior Gold miners shares have languished because basically the Gold price has been going sideways, in a consolidation phase, since the peak in 2020.
I'm expecting a much bigger rise in the Gold price and for a far longer time span than occured in 2020. More like the percentage rise that happened from between 2001 & 2011. Then Gold almost 10 bagged over a 10 year period. I'm probably being over optimistic. Only time will tell. Whatever happens my charts imply a big percentage rise in the Gold price over a number of years is probable.

[papillon] 06/1/2024 14:22

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Gold monthly log chart showing the Strongly Bullish IH&S pattern formed on the chart. Target Gold price given by the IH&S is $2400+

[papillon] 05/1/2024 22:45

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The Gold price Ichimoku chart is still Strongly Bullish. Will it stay that way in the very short term?

[papillon] 05/1/2024 16:54

👍 rougepierre. The sellers could live to regret their decision today.

[rougepierre] 05/1/2024 16:41

Why the hell all the selling...?

Gold about to break out big time!

[papillon] 05/1/2024 15:11

👍 Spot on different world! Those sellers of GPM today could come to regret their decision!

[different world] 05/1/2024 14:53

If anyone reading this doesn't think that gold will hit $3,000, they need their heads examining.

[papillon] 04/1/2024 17:55

Well worth reading the article. I think the Gold price forecasts for 2024/2025, contained in the article, are far too conservative.

PS GPM has a sister investment trust, GCL (Geiger Counter), investing in uranium miners.

[papillon] 04/1/2024 07:12

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Gold Ichimoku chart. Intraday support did hold yesterday. Will it continue to hold today?

[different world] 04/1/2024 07:11

podgyted - broadly agree, but there is also the awful geopolitical background to take into account. On the one hand if the middle east erupts, which looks increasingly likely as days go by, that will boost demand for gold. On the other it will fuel inflation again by sharply worsening the supply chain again and blocking shipping routes, therefore delaying rate cuts which will dampen it.

As you say key now is Friday's non-farms. Even with a slightly lower NAV we are still trading at a ridiculous 20% or so discount, so I'm more than happy to buy any dips here.

[podgyted] 03/1/2024 22:46

Current philosophy is the US markets (and therefore everything else) got ahead of themselves in the run-up to Xmas and New year - perhaps the FED will not cut rates as fast as the market was assuming. The latter has a big impact on gold and is being magnified down to the gold miners.

Key now is Friday's US jobs report.

NAV down to 35.3p per my calcs.

[papillon] 03/1/2024 17:32

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Gold price Ichimoku chart. It's still Strongly Bullish and the Gold price is currently resting on support. It could fall lower, if this support fails, towards the Cloud (Kumo).

[papillon] 02/1/2024 20:11

Possibly Gold will hit $3000 in 2024 according to McGlone. Worth reading the article.

PS my charts say it's not only possible, it's probable!

[different world] 02/1/2024 07:06

A happy new year to all holders here - papillion I single you out especially for your very interesting and helpful charts, many thanks for those.

A decent start to '24 with both gold/silver and our Oz interests looking firm.

Here's to 30p being blown away today.

[papillon] 01/1/2024 17:05

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GPM Ichimoku chart. It's currently Strongly Bullish!
It's looking likely that 2024 will turn out to be a Happy New Year for Gold, Silver & GPM shareholders!

[1hercule] 31/12/2023 09:32

Thanks paps I'll have a look

[papillon] 30/12/2023 21:06

This site explains the Ichimoku elements and Itchimoku signals, 1hercule. It's free to register and you can access daily charts of most LSE quoted shares, including GPM, GDX & GDXJ. You will see the GPM chart is shown as Strongly Bullish.

[papillon] 30/12/2023 13:50

That monthly Ichimoku chart has been Bullish since late 2019 when the Gold price rose above the Kumo (the Cloud) and the Cloud subsequently turned Green, 1hercule. The Cloud is the shaded part of the chart. It's been Green (a Bullish sign) ever since then.
This monthly chart stayed Strongly Bullish until 2022 when the Gold price dropped below the Brown line. However the chart stayed Bullish because the cloud stayed Green and the top of the cloud acted as support (the monthly Gold price never entered the cloud). This chart turned Strongly Bullish about a year ago when the Gold price moved above the Brown line again and then the Red line rose above the Brown line again.
I'll post a link later which explains the significance of the lines shown on the chart. They are based on EMA's. The Japanese inventor of this system spent a fair chunk of his life perfecting it. Evidently FOREX traders use it.

[1hercule] 30/12/2023 12:58

Paps can you explain the chart and why it is bullish. TIA