Golden Prospect Precious... Share Discussion Threads

[different world] 06/8/2020 11:27

Well, I understand your current hesitation Goldoak, but let's face it - we are down a whole 1p!

GPM has been known to lag behind before for some days at a time, and a little profit-taking is always a healthy thing.

Anyone looking at the average gold price over the past month (now over $1910 by the way thanks to the renewed upward movement over the last week) has to extrapolate that to the gearing in our plays - which is very high.

I'm sure those who see gold higher and start to see the much higher incomes/profits from our holdings will view today's share price as an excellent entry point going forward.

[papillon] 06/8/2020 11:25

As I posted a few days ago this "consolidation" period is reminiscent of the pull back that happened from the middle of May to the middle of June. Posters then were saying they couldn't understand it. A pull back to 60-65p wouldn't surprise me, but I'm only guessing because I can't predict share prices.

[king_baller] 06/8/2020 11:23

Stop worrying goldoak. It’s an investment trust of gold and silver miners which has its NAV stated daily. If you were invested in an AIM goldminer I could understand your anxiety, but luckily for you, you’re not.

Some profit taking for risk management, although I personally am not selling. At current gold and silver prices I expect a 20 percent increase in GPM within the next week or two. Significantly more if gold and silver go higher.

[papillon] 06/8/2020 11:21

"Taking profits now makes no sense"

Well it does, Goldoak, if you think the gold price is CURRENTLY a bit toppy in the short term. Couple that with the premium to NAV that GPM currently trades at and a consolidation period for the GPM share price is not unexpected.

Nothing goes up in a straight line for ever buddy. Commodities and share prices can become overbought, just as back in March they were oversold. Greed and fear rule the markets. Greed leads to an overbought situation, whilst fear leads to an oversold situation.

[goldoak] 06/8/2020 11:11

Agree - but why now? Surely if you were looking to take profits you'd have done it a couple of weeks ago before the big PM surge and there was much clearer and obvious value in the GPM share price. Taking profits now makes no sense. Also where are the buyers? When the value of a companies assets is increasing and the share price is decreasing I am nervous.

[toffeeman] 06/8/2020 11:06

From what I can understand (which is little :))I think we have three factors at work:

1. supply and demand for the shares
2. the discount/premium to NAV
3. the $/£ xr

I also hope PHGP which is down today despite gold going up and there I THINK it is xr at work.

Best

[different world] 06/8/2020 10:49

Perhaps it's called "profit taking".

[goldoak] 06/8/2020 10:41

Gold solid again today but we are down. Someone is selling despite the gold price strong and moving up. I reiterate my previous comment - something we don't know is in the mix at the moment.

[different world] 06/8/2020 09:06

No guarantees, of course, but as far as gold is concerned it seems to be building a nice consolidated support level in the region of $2030-2045.

[phoebusav] 06/8/2020 08:09

I note also that there were several late reported sells after the close yesterday totaling around 330K shares including one of over £100K. Quite possibly this was the drag on the share price yesterday. If that seller has cleared then we should have a more positive reaction to share purchases going forward.

[different world] 06/8/2020 07:52

An interesting thought phoebusav. They certainly got the the timing spot on back in early June with a rotate into more silver stocks, and the POS has risen around 40% since then.

[different world] 06/8/2020 07:33

Goldman Sachs moves to physical rather than derivatives.

[different world] 06/8/2020 07:05

Thank you for the article rubberduck104.

Very interesting and a lot of salient points, but is it just another "experts" view? Granted, it has been a quick run up, but there seem to be far more fundamentals in favour of higher gold/silver prices than there are lower ones.

The market still doesn't know the size of the next stimulus from the USA yet, I think $1trn is priced in, but there appear to be indications that it may well be higher than that.

Also from reading certain articles it seems that some gold investors are now hooking up to the idea of calling for the physical rather than accepting a paper profit.

The Aug/Sept season for gold in India has just started so it will be a pointer to see where the price is come the end of September.

Only fly in the ointment I can see here is sterling over 1.30.

GLA.

[steve73] 06/8/2020 05:46

So after a good start yesterday "morning" our TSX stocks all fell and mostly ended up below the previous close, so I'm estimating today's reported NAV will be a little lower than yesterday's.

But the good news is that our ASX stocks are having a slightly better day (although I don't think this will feed into the NAV report until tomorrow... I could be wrong here).

The GBP is strenghtening against both AUD & CAD which doesn't help GPM's NAV

Although Gold and Silver continue to make new highs.. at least in USD...

;-))

[rubberduck104] 06/8/2020 05:33

Worth a read - John Authers

[different world] 06/8/2020 00:09

Nothing, of course, goes up (or down) in a straight line, but gold's performance in going easily through $2,000 and settling around $2,040 is very reassuring.

Far better than a shoot up through the 2k level then straight back down again.

The demand is very solid and investors are very content to buy at these levels.

Goldoak - no problem re the GPM performance today. I'm sure there is nothing sinister going on in the background, it's just the usual GPM lagging behind events again.

We should be back on the move in the morning.

[papillon] 05/8/2020 23:42

Goldoak5 Aug '20 - 15:04 - 2452 of 2471
0 0 0
When I bought GPM my first price target was 65 pence. It hit that when gold reached 1850. Here we are with Gold up a further 11% since then yet GPM has risen just 7%. Not really a leveraged play this! There must be something going on we are as yet not privvy to.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

As I posted recently now that GPSS "is in the money" it's acting as a drag on the GPM NAV. We'll just have to wait for GPSS to disappear, in the meantime you can always invest in GDXJ. Better still try GPSS. I tried to buy them with my own money a month again, but interactive investor wouldn't let me as I was considered an unsophisticated investor!!

[phoebusav] 05/8/2020 23:25

This morning's video by Greg Mannarino is also excellent.

[davebowler] 05/8/2020 19:31

hTTps://stocknews.com/news/gld-pall-plpt-sbsw-plg-amrk-will-platinum-and-palladium-follow-gold-to-new-highs/

[different world] 05/8/2020 18:32

If anybody doubts the future path of gold, probably for the next year or two (remember the virus is making a spectacular comeback which will force central banks to print even more money), then take a look at this:-

[vacendak] 05/8/2020 17:31

Some of us are in GPM/Precious metals with portfolio diversification in mind. For me, I currently have 20% of it in gold, silver (physical and paper) and GPM. I am happy with 20% but would start offloading and realising profits if/when the whole lot goes above 25%.

So not everybody selling is a traitor to the cause.

When I say I will sell at 25% of my portfolio... I will still have to overcome Lady Greed because she will most likely whisper in my ear not to sell. :)

[different world] 05/8/2020 17:25

Well, the only thing I got right today, was that total volume would exceed 1m !

[different world] 05/8/2020 17:23

With gold, and PM's in general in high demand, it beggars belief that Ruffer would want to unload any.

You'd think they want to actually add.

[phoebusav] 05/8/2020 16:21

Could be that Ruffer is offloading into the liquidity which is holding the share price back today. If you have a large number of shares to sell it's much easier to offload at the bottom of a pullback than the top of a rise. As of 6 weeks ago they still had 2,361,698 shares.