Golden Prospect Precious... Share Discussion Threads

[papillon] 20/5/2024 13:00

"The great guru and boss at Metals Daily has been a cautious bull so far in this run up so he is not frothing about Ariana Resources (AAU) hitting 10p as are some other enthusiasts. Ross says:"

Here's the article in question. Well worth reading.

[papillon] 20/5/2024 12:29

"Michael Burry and John Paulson hit the jackpot when they called the housing crash. Now they're betting on gold."

"Michael Burry of "The Big Short" fame revealed an $8 million wager on gold this week.
The renowned investor bought into a trust that owns physical gold bullion.
John Paulson, who also called the mid-2000s housing crash, continues to bet big on gold."

🤞 Let's hope they are right!

[papillon] 20/5/2024 10:08

👍 arbus5000. Unfortunately the GPM share price mid point, which is used by advfn and other financial web sites, doesn't often give the full story about the GPM share price because the official GPM bid, offer, spread often bears no relation to reality. However these discrepancies become insignificant when share
prices are compared in the longer term.

[arbus5000] 20/5/2024 09:20

GPM shares can be had for 37.9p, thats about 6.5% up on Friday am.

[papillon] 20/5/2024 09:07

The GPM share price movement is far more irrational than that of GDXJ, stevieweebie2, but since the end of February GPM has outperformed GDXJ. The percentage gain in the GPM share price is greater than that of GDXJ

[stevieweebie2] 20/5/2024 08:47

What about the 4% rise it had on Friday Pap?

[papillon] 20/5/2024 08:33

GPM now up 2.82%< matching the GDXJ rise.

[papillon] 20/5/2024 08:16

GDXJ opened up 2.83%.

[different world] 20/5/2024 06:35

Yes, what a way to go - disengaged from your chopper.

Oz gold index closed up 285 points, 3.65%.

I think we can safely look for 38p here today, and over one million shares to be traded, which will be heavy volume.

[steve73] 20/5/2024 04:48

Big rises on global PM markets....

Dangerous things, helicopters..!!

[davebowler] 19/5/2024 17:54

hTTps://www.dailymail.co.uk/news/article-13435095/Britain-investors-stockpiling-gold-revealed.html

[papillon] 19/5/2024 15:50

Good article. Well worth reading. If you read any article, read this one!

"Multiple catalysts are supporting higher metals prices"

The parallels with the '70's is also mentioned in the article!! Do read the whole article.

"Stagflation fears have investors rotating into gold to capitalize on the biggest macro themes driving the markets. After Q1 economic data has rekindled fears of 1970s stagflation,"

"Recent data showed global demand for gold has never been stronger, while the shift from the west to more eastern demand began not long after the UK "Brown Bottom" in 2001. In the first quarter of 2024 central banks bought 290 tonnes of gold, the biggest start to any year on record."

"Brown Bottom" 🤣

[papillon] 19/5/2024 15:35

"The View From The Montana Log-Cabin As Gold Challenges For New Highs, Ariana to 10p?"

"Gold closed the week at $2,414 – within a whisker of its intra-day all-time high and at a new record weekly close, up nicely on last week’s $2,360. Silver closed at an 11-year high and as you can see from the chart of Gold vs the mining ETFs GDX (majors), GDXJ (juniors) and GOEX (explorers), Gold stocks did very well too."

[papillon] 19/5/2024 15:35

Many thanks, M24XP. It's a shame there's no Copper miners ETF listed on the LSE.

[m24xp] 19/5/2024 15:02

There is CPER although it's copper itself rather than miners.

[papillon] 19/5/2024 13:55

2 LSE listed Copper miners, TKO & ATYM, have been star performers recently, especially TKO.

It's a shame there isn't a US listed Copper ETF listed on the LSE, like the 2 Gold ETF's GDX & GDXJ.

[papillon] 19/5/2024 12:34

"The story behind the surge in Silver, Copper and Gold"

A Yahoo Finance video.

[podgyted] 19/5/2024 10:41

Clearing up trading holidays - just checked.

Oz is open, Canada is closed on Monday.

[papillon] 19/5/2024 10:04

CORRECTION. I wasn't feeling well last night; in fact I felt awful. I wrote 2020 when I meant 2019. Please accept my apologies.

Hence the final paragraph I wrote in my last post should read:

"Keep an eye on that 50 day EMA. If that starts to turn down then it will mean a weakness in the Gold price is coming, if only temporarily as at the end of 2019."

I've corrected post 3479. Obviously the "turning down" of the 50 day EMA in Q3 2020 signalled the end of the almost 2 year Bull run in Gold.

PS I think you should concentrate on the fundamentals rather than the short term vagaries of the short term Gold charts, atlantic57. The global "fundamentals" (economic and political) remind me of the '70's. It sometimes seems that the events of 1974 are being repeated in 2024! We are even likely to get a General Election this year, like we did in 1974 and it's odds on Labour will win. In 1976 the UK had to turn to the IMF for a bail out loan who insisted on strict austerity measures in return. Let's hope this doesn't happen in 2026! 🤞😂

[papillon] 19/5/2024 00:01

free stock charts from uk.advfn.com


EDIT: As can be seen from the last Bull run a rising 50 day EMA (or just below it) provided support. The exception was in March 2020 when the COVID pandemic was officially confirmed and the prices of most everything collapsed due to the panic caused by the announcement of a pandemic.. However the Gold price quickly recovered.

Keep an eye on that 50 day EMA. If that starts to turn down then it will mean a weakness in the Gold price is coming, if only temporarily as at the end of 2019.

[papillon] 18/5/2024 23:39

free stock charts from uk.advfn.com


I think we are currently on the 5th wave (an up wave) of an Elliott Wave Cycle, atlantic57, that started in late February. How high this 5th Wave will go is anyone's guess. The only definite thing you can say about an Elliott Wave Cycle is that the 3rd Wave is never the shortest. So far the 3rd Wave is the longest and the 1st Wave the shortest.
Once that Elliot Wave Cycle finishes then you'll get A,B,C corrections.
The RSI is rising which suggests that this 5th Wave hasn't peaked yet, but you can never be certain. I'm not Nostradamus; I don't believe I can predict the future!

[atlantic57] 18/5/2024 18:12

Pap does your technical analysis suggest a continued rise from here or a pull back and then a rise for gold.

A quote from David Brady

From here, it looks like an A-B-C correction has already begun, which could fall to $2330-$2340, worst-case $2250, before turning up again towards higher highs above $2400.

[different world] 18/5/2024 18:12

papillon - yes, it appears to be a "rolling" commentary, updated each quarter. A fastcinating read though - nothing changes though does it? The tried and tested reasons for holding gold, and gold shares, is usually the same.

Meanwhile, here's an interesting take on last week's trading and the prospects for next:-

[papillon] 18/5/2024 17:59

One of the comments on that "litefinance" article is dated 3 years ago, different world.
It does appear to be an old article, but updated every 3 months and the current Gold price every Monday. However one more recent comment queries why the target prices are not being similarly updated?

[papillon] 18/5/2024 17:39

"Precious metals prices projected to rise 8% in 2024, with gold leading the charge – World Bank"