Golden Prospect Precious... Share Discussion Threads

[papillon] 22/2/2021 22:52

free stock charts from uk.advfn.com



free stock charts from uk.advfn.com


A couple of gold futures charts. Whether today's rise in the gold price is indicative of more interest in precious metals, or a dead cat bounce I have no idea. Hopefully the former. Fingers crossed.

[ultrasharp] 22/2/2021 21:44

ATB PAPILLON

[ultrasharp] 22/2/2021 17:15

Gold & silver did rather well today, Bought back another 2,500 shares today. Now back up to 15,000.

[ultrasharp] 21/2/2021 20:22

Thanks atlantic57.



Let's hope the Morgan Stanley geezer is wrong.

[atlantic57] 21/2/2021 20:19

My spin in what he is saying is that whilst on a 24…month view prospects for gold
Remain solid he does not see gold making new highs till the 4th quarter ofv2021.

[ultrasharp] 21/2/2021 19:55

What does he say, atlantic57?

ATB PAPILLON

[atlantic57] 21/2/2021 14:59

I’ve just read an update from Jordan it does make for encouraging reading in the short term.

[ultrasharp] 21/2/2021 14:02

Whatever Basel III is? I don't subscribe so I'll have to stay ignorant! 😁

ATB PAPILLON

[ultrasharp] 20/2/2021 21:25

More "pearls of wisdom" from Chairman Musk! 😁

Come on Elon Musk, get Telsa to forget Bitcoin and buy Gold instead!


ATB PAPILLON

[fordtin] 20/2/2021 15:37

Golden Prospect Precious Metals Limited January 2021 Investment Commentary


"A pick-up in US 10yr yields and associated strengthening US dollar weighed on precious metals. Although real yields (10yr TIPS) barely moved, which gold has historically been more correlated to (calculated as nominal yields minus inflation), as implied inflation broke 2% for the next 5 and 10yrs.The Democrats taking the Georgia senate seat added to sentiment on stimulus whilst also supporting the case for further spending on renewables. We still await clarity on the proposed US$1.9trn Covid-19 stimulus package, which if agreed would likely be positive for precious metal sentiment.

Evidence of Asia’s recovery in the jewellery sector is coming through, with retail demand in Asia noticeably picking up recently. Physical gold demand in China is improving ahead of Chinese New Year, with gold premiums reaching US$4/oz at one point during the week. Indian premiums rose to US$1/oz over official domestic prices, up from last week’s premium of US$0.5/oz. Retail gold demand has been on the rise in India, with wedding purchases driving sales in December 2020. Indian gold imports were 73.2t in December -up 41% yoy -and have been sequentially rising every month since bottoming out in September 2020.

US Retail traders posting on Reddit picked up silver as a theme, with some of the most shorted stocks such as First Majestic Silver which rose ~50% over the week. The Fund took some profits on the sharp moves, although we still like the longer term thematic to silver.The World Gold Council (WGC) flagged that central banks werenet sellers of gold in November 2020, following net buying in October, with global official reserves declining a very slight 6.5t during the month. Sales of 23.3t in November were driven by Turkey (20.9t) and Mongolia (2.4t).

The WGC notes that the recenttrend in net buying could pause as a consequence of heightened uncertainty and fiscal pressure generated by the Covid-19 pandemic. Meanwhile, central bank attitude towards gold as a valuable risk mitigation asset looks set to remain, particularly amid a still high-risk macroeconomic environment. Despite recent net selling (September and August 2020 were also months of net sales), central banks remain on track to end 2020 as net purchasers, which would make it 11 years since they were last net annual sellers.

Over the month, the takeover of Cardinal Resources closed, the Fund added to polymetallic explorer Palladium One and US Silver developer Aurcana Silver. We took some profits on First Majestic as the Reddit hype lifted the company through our valuation target"

[arbus5000] 20/2/2021 13:11

according to the latest factsheet, they sold down their holding in first majestic when it popped after the reddit news.

borrowing is up slightly and they have a new position in a palladium explorer.

[papillon] 19/2/2021 23:48

Similarly the chart indicators, Heiken-Ashi, RSI & MACD on the gold chart are nothing to right home about. Perhaps Elon Musk will come to gold's rescue and get Tesla to invest US$1.5bn in gold! lol.


free stock charts from uk.advfn.com

[papillon] 19/2/2021 23:27

Well the chart indicators, Heiken-Ashi, RSI and MACD have yet to turn bullish. Maybe they will on Monday as today's candlestick (see today's share price action in the header) is a possibly bullish hammer?


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[ultrasharp] 19/2/2021 21:29

Musk has changed his mind on Bitcoin! 🤣

Musk is obviously a genius, but he's also got a screw loose!

ATB PAPILLON

[ultrasharp] 19/2/2021 21:27

Bitcoin is still rising. Now over 56,000. Up 8.75% so far today.
No more Bitcoin predictions from me! 🤬

ATB PAPILLON

[atlantic57] 19/2/2021 18:16

Governments are always happy to hit the peasants and I am sure they will clamp down hard on crypto currencies at some point.

How high it will go is open to discussion .

However once institutions (The establishment ) get involved they will be much more circumspect on how they close it down

[12string] 19/2/2021 16:21

Very obvious comex shorting again last night at 11.45 caused the silver price to fall $90 to $2610, only to climb fully back within 20 mins. This morning the price continued to rise even during the quiet 1-2pm lunchtime period before the US open.

Couldn't resist adding again at 47.74p

Headwind from the weakening USD, but the price action last night and today provides some confidence that silver could well go up from here. I sense that with the exception of JPM, who have accumulated tonnes of silver metal, the other main commercial shorters are close to losing their shirts.

[ultrasharp] 19/2/2021 15:52

Signs of life in both gold and GPM! Yippee.

Meanwhile Bitcoin continues it's inexorable rise. Not surprising after I saw that some corner shops in New York contain Bitcoin vending machines where a punter can exchange his dollars for a fraction of a Bitcoin just like buying a can of Coca Cola! It'll all no doubt end in tears one day, but that day could be someway off still and Bitcoin could yet go a lot higher.

ATB PAPILLON

[ultrasharp] 19/2/2021 13:43

Well I did the right thing by selling half of my 20k GPM shares at the start of the week. My big mistake was not selling all of them! I compounded my error by buying back 2.5k on Wednesday. That's what happens when you ignore the chart indicators! Doh!
I shall be watching to see if support offered by the circa 46plow of November holds. If that fails then the next support is offered by the circa 42p low of last summer.

ATB PAPILLON

[podgyted] 19/2/2021 09:14

Bad overnight in Oz - West African Resources down 6%.

[ultrasharp] 19/2/2021 01:50

Gold currently down at 1760!

ATB PAPILLON

[podgyted] 18/2/2021 23:43

In the meantime I expect a NAV of 55.8p to be reported tomorrow - FWIW.

[podgyted] 18/2/2021 23:24

Look at the miners SP's not the gold/silver price. Miners falling more than the metals - the only positive here over the past couple of weeks was the silver miners. Seems to have broken tonight.

But who knows.

Discount moved out to a more acceptable levels but not necessarily good enough - NAV really needs to start increasing before that can be said.

[davebowler] 18/2/2021 13:47

Jim Rogers on precious metals/silver

[ultrasharp] 18/2/2021 09:35

Bought back 2,500 of the 10,000 GPM I sold early this week.

ATB PAPILLON