Golden Prospect Precious... Share Discussion Threads

[noirua] 28/7/2021 01:50

Maybe gold can do an about-turn the same as Bitcoin has done. It is the smaller gold companies that find their share price falling apart - the minnow, US size minnows that are, are seeing their share prices tumble, and surprisingly it is the silver shares doing their worse. Among the medium size companies, DRD is on a yield close to 8%, and a giant like Newmont is close to 4%. So many are on the sidelines now and just wondering where this is going. In my own small way, I am there as well. It is relatively quiet among analysts and forecasters. Prices can go so low it becomes crazy but many know that is because the market starts to feed on itself. A little bell will ring as the bottom is reached but few will hear it.

[fordtin] 24/7/2021 08:57

Golden Prospect Precious Metals Limited June 2021 Investment Commentary hTTps://ncim.co.uk/wp/wp-content/uploads/2021/07/CQS-New-City-GPPM-June-2021.pdf "Inflation remains a focus for investors driven by better-than-expected economic recoveries, especially in developed markets whose post-Covid recoveries have lagged that of China. Whilst generally positive for gold and commodities in the long run, there are some conflicting short-term implications, notably with regards to central banks’ monetary policy response as they consider shifting towards a tightening bias. The US Fed are now more openly discussing possible tapering of its US$120bn per month bond purchases and indicated that a rate increase may be appropriate in 2023, earlier than previously guided. A strengthening of the US dollar index, which firmed around 3% over the month after FOMC minutes broached the subject of tighter monetary policy, weighed on gold, which declined around 7.2% over the month. The Fund NAV declined 11% versus sterling declines of between 11.3% and 13.7% registered by the Philadelphia Gold & Silver Index, Gold Bugs Index and GDX and GDXJ. However, the declines occurred despite physically backed ETF holdings, which have typically been a marginal driver of the gold price, remaining static over the month and when assessed against the historic correlation with 10-year TIPS, the sharp US$130/oz decline during the month may represent a short-term correction. The extent to which inflationary pressures are “transitory” will continue to have a significant bearing on monetary policy, and central banks may find it difficult to fine tune actions to counter potentially stubborn underlying inflation risks resulting from a combination of rising wages and pent-up demand. In other aspects, policy actions may help spread pressures over a longer period. In this regard, China’s inflationary concerns prompted authorities to restrict speculative trading and release small quantities of base metals from the nation’s strategic reserves in order to dampen near-term inflationary pressures. Elsewhere, Russia has expanded export tariffs to encompass nickel and aluminium in addition to some soft commodities in its efforts to limit domestic raw material inflation. Similarly, food prices have also risen sharply, prompting governments such as Brazil and Russia to restrict exports. The World Gold Council released its 2021 central bank survey, which indicated 68% of participants recorded higher holdings than five years ago, pointing to likely further additions as a “buffer against balance of payment crises”. Gold currently makes up 16% of central bank reserves. During the month the Fund participated in placings by ASX-listed Ora Banda and Firefinch, reinvesting proceeds from the sale of Wheaton Precious Metals." ============================================================================ subsequent event added to header; Roxgold (5.53% of NAV s at 30 June 2021) - (fordtin) - *see subsequent merger announcement below *Vancouver, July 2, 2021 – Fortuna Silver Mines Inc. (“Fortuna”) (NYSE: FSM | TSX: FVI) and Roxgold Inc. (“Roxgold”) (TSX: ROXG | OTCQX: ROGFF) are pleased to announce the completion of the previously announced business combination between Fortuna and Roxgold (the "Transaction") to create a global premier growth-oriented intermediate gold and silver producer. For additional details related to the Transaction, please refer to the joint news release dated April 26, hTTps://fortunasilver.com/investors/news/fortuna-and-roxgold-complete-combination-to-create-a-global-premier-growth-oriented-intermediate-gold-and-silver-producer/ Fortuna Silver Mines (4.21% of NAV s at 30 June 2021) - (fordtin) - *see subsequent merger announcement above

[podgyted] 23/7/2021 11:54

Will gold miners ever come back into fashion? Looks like the NAV is still falling to me - whilst gold is relatively stable.

[papillon] 21/7/2021 14:18

GPM, based on the NAV yesterday, is currently trading at a circa 7% discount. Where is the bottom? Below the waist! 😁

[podgyted] 21/7/2021 13:19

Well we seem to be having a bounce-back but unfortunately not in the PM mining sector - but lets see what happens when NA opens up.

[papillon] 19/7/2021 13:40

Almost everything, including gold, is down today. Reminiscent of the big falls of March 2020. Then we soon had a big bounce back up and a continuing rise. Will history repeat itself?

[podgyted] 18/7/2021 22:39

Silver and Gold miners sank quite a bit on Friday - not sure if bottom - but close probably. BWDIK

[king_baller] 14/7/2021 14:09

Hedgeye are pivoting from quad 2 (reflation) to quad 3 (stagflation). Very bullish for gold miners. I’ve bought back in to GPM and other miners.

[12string] 02/7/2021 11:08

Good luck papillon. I've held AMYT in the past but not followed recently - are you subscribing to SCSW by any chance. I rate them highly. I've long term positions in Copper and Uranium, anticipating continued shortages, particularly uranium. Gold and US$ both looking strong today. Non-farm payroll data out around 2:30pm, so expect a reaction. Under 50p to buy GPM yesterday and that's a discount to NAV of 10%. Not many buyers around for GPM lately. But that could change. Time to accumulate?

[papillon] 02/7/2021 00:49

"Gold & Silver Correction Resumes, No breakout this year". So says Jordan Roy Byrne in this video from Tuesday. This guy knows his onions! He talks sense, whereas a lot of these videos, with up to 15000k being forecast for the gold price, are just so much pie in the sky, unfortunately. I'm still targeting 2700+, but we wont see that this year, or next year, according to Jordan Roy Byrne. Do watch the video, 12string. hTTps://www.youtube.com/watch?v=hqzQyOSkkio I've sold all my gold shares, 12string. I've put my cash into SQZ & KIST based on their strongly bullish Ichimoku charts and the increasing price of natural gas. I've also just got back in AMYT (orphan drugs). It's Ichimoku chart has started to turn bullish. I also like the AMYT fundamentals (I've been following the company for a number of years)

[12string] 01/7/2021 14:50

Don't forget, the GPM share price is in UK£, which has recently been weakening v the strengthening US$. That is positive for the UK share price.

[papillon] 01/7/2021 00:21

free stock charts from uk.advfn.com I wonder where gold is going in the medium term? Down towards my lower trend line, or up towards my upper trend line? Up, or down? I don't know, apart from the general tend for the last 15 years has been up. You pays your money and takes your choice! Meanwhile in the very short term, as this Ichimoku chart shows, the trend is bearish, but for how long? Who can tell? However it wouldn't surprise me to see the March lows revisited. free stock charts from uk.advfn.com

[12string] 30/6/2021 16:19

Interesting gold price action today. In the last hour or so gold has been rising in spite of the US$ continuing to rise strongly. I'm wondering if a Commercial short seller is closing prior to the start of Basel III !!!! It only affects European banks from the end of June, but it could be!!!

[12string] 30/6/2021 14:46

It's quite an achievement by the Fed isn't it? Gold price is reflecting confidence in the Fed to avoid financial disaster. Monetary inflation is higher than ever, with a Govt budget deficit over $1 trillion annually. J Powell admits that the US "is on an unsustainable path" - so they are counting on the economy to move to high growth and sustain it for years. And for unemployment to return to pre-covid levels. They're talking it up, cos that's the only way that QE (bond purchases) can be scaled back (tapering) and taxes can be raised to stop the debt mountain from growing. So Papillo, I'm talking fundamentals here. As long as confidence in the Fed to remain in control (in terms of sustaining stock market valuations) continues, and as long as they can keep the interest on bond auctions down - by being the main buyer!!, the US$ will be favoured over gold and silver. But the risks are there. Any bad news could turn reverse sentiment overnight. Pretty well every commentator says that inflation will rise, and that interest rates will be kept low by Fed intervention. That should be enough to light a fire under gold and silver. So let's see how US inflation develops. Some price rises will reduce when supply chain bottlenecks disappear, but some won't. Wages are rising fast, and energy isn't getting cheaper. The more it becomes clear that real interest rates (net of inflation) are significantly negative, the more people (and institutions) will favour gold over paper currency. Interesting times.

[papillon] 30/6/2021 10:56

free stock charts from uk.advfn.com Will the gold price fall back to retest this long term uptrend? Who knows? I don't. Even Nostradamus couldn't predict it! 🤣 🤣

[fordtin] 30/6/2021 07:58

Golden Prospect Precious Metals Limited May 2021 Investment Commentary hTTps://ncim.co.uk/wp/wp-content/uploads/2021/06/CQS-New-City-GPPM-May-2021.pdf "The Fund NAV increased 5.90% as precious metals remain supported by inflationary concerns from the market, leading to a notable shift in the physical gold ETFs and switching from sellers to buyers, which further helped prices. This follows five months of outflows in the last six, noting it has an outsized impact on gold demand given the large shift in flow versus other components, which are generally more stable such as jewellery and Central Bank demand. Gold’s correlation remains high with the inverse US 10 year TIPS yield, calculated as nominal yield minus inflation. For this reason, higher interest rates would generally be viewed as negative, but increasing inflation expectations have more than offset this to date. Arguably, Gold has lagged this move on an absolute basis, which could provide the potential for further upside. Gold remained resilient on talks about the tapering of bond buying, whilst it continues to refer to the inflationary pressures as transitory. Whilst some of the drivers in the general economy may be temporary, such as the general reopening of trade, the strength we have seen across commodities appears more led by supply constraints, so may be more structural. In its PGM outlook, Norilsk projected a 900koz deficit for palladium due to a strong recovery in automotive demand. In contrast, they expect a 1Moz platinum surplus (before investment demand). The Fund added to its position in Palladium One, an exciting Palladium explorer in Finland, with a high grade Nickel discovery in Canada."

[podgyted] 29/6/2021 22:11

Looking to re-enter here. Inflation bubbling with US bond yields low should give a golden age for gold miners - but they are being hammered at the moment. Patience needed. Probably further to fall for a bit? Then buy. BWDIW

[12string] 29/6/2021 17:51

Papillon, Gold price for the last few weeks has moved inversely to the US$ (as measured against a global basket of currencies). I've been day-trading gold on IG with an eye on the "US Dollar Basket" which has lately been on an up wave within a down trend. I'm expecting a down wave to resume soon. Seems (based on researching a lot of commentary) that the market believes the Fed when Jerome says the present inflation spike is transitory (and part of it definitely will be). So the dominant influence on gold price is now the relative strength of the dollar. When the US$ strengthens, gold falls. So Jerome Powell is walking the tightrope of reassuring the market that the Fed's in control; that long term inflation is unlikely, and that if inflation persisted, they'd have the tools to deal with it. So the fear trade for gold is presently absent, and the US$'s long term down-trend (caused by the huge ongoing QE and Govt spending bills) is being kept as weak as possible by the Fed's BS! I'm a long term holder of GPM shares and not selling!

[papillon] 29/6/2021 01:33

GPM Ichimoku chart. I started selling over a week ago and sold the remaining 10k today. I still believe the fundamentals and long term chart point to a 3000k gold price, but agree with eminent gold chartist, Jordan Roy Byrne, that the gold price will stagnate until later in the year. I think a £2 GPM share price is possible if and when gold hits 3000k. Like General MacArthur, "I shall return", but only when the GPM Ichimoku chart starts to turn bullish again. In the meantime I've put the cash proceeds into SQZ (gas producer, North Sea) and AMYT (orphan drugs). free stock charts from uk.advfn.com

[12string] 28/6/2021 13:27

There's no doubt in my mind that the Fed and some US commercial banks are doing everything they can to sustain US$ strength. They're on a one-way dead end street though. The US economy is facing price inflation and it's only going to get harder. They'll talk up the US$, threaten to increase interest rates whilst continuing to buy ever more US bonds (to keep bond yields down). The Fed's "tools" effectively manipulate markets, but the reality is that one day soon they're going to have to face reality and market forces will resume. In the meantime, the rest of the world recognises the US catch 22 situation and is buying up gold ready for the next global financial reset in 2022.

[diamond1] 27/6/2021 22:15

Please yourself papillon. You're obviously very naive about the world and you didn't even bother to read what I wrote correctly. Have a great, innocent life.