Golden Prospect Precious... Share Discussion Threads

[atlantic57] 24/3/2024 08:48

I made huge blunders believing ( wrongly) for years that markets would crash and gold would soar.Now I am 70 I have paid the price.

Even as recently as 2020 experts like Martin Armstrong after the Covid market crash predicted that the stock market recovery would soon go into reverse.They compared the 1929 era where markets recovered but then lost 80% of their value.

He was wrong.

Sprott gold guru Brady is now saying gold will head south before heading north😀

[steve73] 24/3/2024 01:58

The big difference between 1929 and now is that currencies are no longer constrained by a gold standard.

In 1929 onwards, the market falls were a true representation of the economy, whereas now, the excessive "money" printing will disguise (is disguising.??) the imminent (or ongoing) collapse..

If QE keeps ramping up, then the so-called "collapse" could be delayed for much longer yet. And since it's already improbable that the current debts can ever be repaid, there is no real objection to keep moving QE into ever higher gears

Will gold eventually act to reveal (or protect us from) this..??

I suspect it could still be a long way off... if ever..!

[riverman77] 23/3/2024 20:12

There will always be busts but impossible to say when - could be one this year, could be another 5 or even 10 years away.

[papillon] 23/3/2024 19:32

As atlantic57 suggests, riverman77, he'll be proved correct one day as stock markets around the world are always subject to booms & busts. We've currently got the boom, but when do we get the bust and how big a bust will it be? It will come, but when and how bad it will turn out to be is anyone's guess.

[atlantic57] 23/3/2024 17:26

Yes Riverman I plead guilty to believing these endless forecasts of doom.
A broken clock is correct twice in 24 hours.

One day rudders…

[riverman77] 23/3/2024 16:40

You realise he's been saying that since about 2010 - I used to read his regular newsletter and was full of warnings about extreme valuations (actually quite convincing but we're still waiting for the big crash).

[papillon] 23/3/2024 16:31

"Stock valuations mirror the extremes of 1929 and the market is at risk of a steep crash, legendary investor John Hussman says"

Will he prove to be correct?

[stevieweebie2] 22/3/2024 14:20

Yes my silver miners on the Tsx are soaring ??

[papillon] 22/3/2024 14:06

The Gold & Silver prices are gradually recovering today after yesterday's falls.

[papillon] 22/3/2024 12:04

"Ex-takeaway worker with Bitcoin worth more than £2bn convicted
The cryptocurrency seizure is thought to be the biggest by UK authorities"

[papillon] 22/3/2024 11:36

"Gold price gains against the Swiss franc highlight its potential when the Fed starts cutting rates"

Patience is required by holders of Gold, Silver & GPM.

[papillon] 21/3/2024 15:21

"Gold prices see some technical selling pressure following mixed flash PMI data"

[papillon] 21/3/2024 15:18

"Gold sets new session low after U.S. existing home sales skyrocket in February"

[arbus5000] 21/3/2024 12:52

KBaller - the subscription rights are an annual event, occuring at the end of every november.

If you hold GPM shares on that date this year, you get the right to buy (or subscribe to) 1 more share of GPM for every 5 that you own at around 35p. If the GPM share price at that time is higher than 35p, it makes sense to use your right to get the extra shares.

the price at which you can subscribe to shares is also set every year - for example that 35p price was based off the NAV of GPM last november, and the NAV this novemeber will be used to calculate the subscription price next year.

[weyweyumfozo] 21/3/2024 12:08

£1,734,

that's the previous £1,712 Sunday night low volume spike surpassed.

[king_baller] 21/3/2024 11:17

Can someone summarise, in layman terms, what the GPM subscription shares are, who gets them, how many, when, and at what price? For potential new investors looking in here. As they’re going to be a huge bonus in the coming gold bull market.

[stevieweebie2] 21/3/2024 11:14

oh yes indeedy Pap, 32,000 at sub 36p will do very nicely indeed, its been a long wait.

[papillon] 21/3/2024 10:54

The GPM share price will definitely move to a premium to the NAV by 1/12/2024, most probably a sizeable premium, as shareholders will want to get their hands on those 1 for 5 subscription shares priced at just 35.94p, King_Baller.

[king_baller] 21/3/2024 10:28

If funds move into precious metals sector my late 2024 targets are:

Gold to $2700, silver to $50, GDX to $65 (currently $30.77), SILJ to $21 (currently $9.77), GPM NAV to 100p, with GPM price moving to a premium to nav.

[papillon] 21/3/2024 10:16

The 13 year Bullish Cup & Handle chart pattern gives a potential target GOLD price of $3000+. I stress the word potential as it's not guaranteed.
It wouldn't surprise me to see the GPM share price test it's all time high of around £1.25 if that $3000+ GOLD price is achieved within the next 2-3 years.
Will it? You pays your money and .......
I can't predict the future, but the economic omens look to favour GOLD and hence GPM.

[brucie5] 21/3/2024 10:04

Yes indeed. The barbarous metal has sadly never gone out of fashion and this IT is probably not a bad way to gain exposure. The chart seems to tell its own story and has clearly broken up. Any targets for this one?

[papillon] 21/3/2024 00:28

A very interesting chart is the very long term log one where the Gold price has been adjusted for inflation. I've posted it before, but I'll post it again within the next few days. There is a massive Bullish Cup & Handle pattern forming on this inflation adjusted Gold price chart and if it forms the potential target Gold price is staggeringly high. I'll have to check whether that pattern has formed because I haven't looked at this chart for months.

[papillon] 21/3/2024 00:21

👍 weyweyumfozo. I've been waiting for that Cup & Handle to form for over 2 years as I've mentioned on here many a time. My longer term Gold price chart turned Strongly Bullish at the start of 2023 and has stayed Strongly Bullish ever since despite the volatility in the Gold price since then. I've posted that chart many times over the past 14 months.

[weyweyumfozo] 21/3/2024 00:01

Some nice Clive Maund charts from yesterday: