Golden Prospect Precious... Share Discussion Threads

[bitgold] 04/5/2021 22:09

What's missing here is the discount. This is a great one to accumulate when the discount is huge and rebalance into other investments when the discount is low. The same goes for most other investment trusts. Look at HOT, for example.

Anyway, given the falls on the US core portfolio constituents today, it'll be interesting to see how the Australian ones perform and how the NAV goes. However, as proven in 2020, it could suddenly triple or more in a crisis and none of us would want to totally miss that.

[papillon] 04/5/2021 21:00

Whether you were right, or wrong, bitgold, to sell your GPM shares in the hope of buying back them cheaper one thing is certain as this long term chart of the GPM sp, since it originally listed back in 2006 shows: namely that it's not a share for long term holders! It's a share to trade, as those who bought back in 2006, at it's flotation and still hold know to their cost as they are seriously out of pocket!


free stock charts from uk.advfn.com

[bitgold] 04/5/2021 17:31

I am aware of all that and I believe it's priced in. The electric cars, the solar panels and electronics. Yes, real silver demand is not even met by what's mined yearly, and it takes a lot of recycling to do so. However, let's not forget the manipulation of the price by vested interests. I'd argue even Bitcoin is a distraction. As I said, I may be wrong and if so, I'll regret selling GPM or not investing more, but to me there is a big buying opportunity coming at much lower levels than now. We can only wait and see.

[papillon] 04/5/2021 17:19

You're going against the opinion of most analysts, bitgold, who are currently more bullish on silver than gold. That's because silver also has industrial uses and because the gold to silver price ratio is too high on a historical basis.

[papillon] 04/5/2021 17:15

The discount will often turn into a premium, bitgold, when gold is perceived by investors to be on an upward momentum.
GPM is a highly geared play on precious metal miners because the profits of those miners are themselves highly geared to the prices of those metals. Those averse to risk should invest in a fund directly linked to the metals and not the miner's, bitgold.

[bitgold] 04/5/2021 16:30

I am more confident on gold than silver at this moment. However, GPM must be treated as a different entity with huge upside or downside, not just on the metals but in relation to discount and what may happen to any of the portfolio holdings.

[papillon] 04/5/2021 15:35

Well gold just had another go at breaking above that circa 1800 resistance. Give it full marks for trying! 😁 Hopefully it'll soon have another go! "If at first you don't succeed........"

[bitgold] 04/5/2021 12:31

£15 GBP. It may not happen, but if it does I'll be there.

[papillon] 04/5/2021 11:49

Gold appears to be going sideways moving between resistance at circa 1800 and support at circa 1760. It's consolidating after the recent rise from circa 1670. It's finding it hard to break above that resistance at 1800. It tried and failed yesterday to kick on above 1800.

[papillon] 03/5/2021 20:18

It's only a bank holiday today in the UK, not in the USA and elsewhere in the world, bitgold.
Could you please explain your reading of the silver chart as I don't understand how you have arrived at your £15 target price.
PS Did you mean 15 £'s, or $'s?

[bitgold] 03/5/2021 18:34

That would be great news for the ishares gold producers etf. Americas Silver, a GPM major holding up 10%, so yes, GPM may zip up tomorrow, but the discount remains anaemic. Gold I can agree was a buy at these prices - or at least it's holding on the graph, but GPM carries a lot of risks. Along with rich rewards of course. Let's see how this unravels. My own chart reading suggests silver to drop to about £15 oz, but I am often wrong, let's see - I could imagine the banks letting it rise when half the consumer base is holiday to rob them tomorrow.

[papillon] 03/5/2021 18:06

Barrick Gold share price is currently up 4.5% on the NYSE. Such a rise bodes well for the precious metal miners held by GPM and the GPM share price tomorrow.

[papillon] 03/5/2021 17:41

I follow the charts, bitgold. Particularly the Ichimoku chart. It highlights current investor sentiment towards a particular share, or commodity. The GPM Ichimoku chart went strongly bullish a week ago, so it's possible that you made a mistake selling some of you GPM.
Also currently the gold price is above the cloud on it's Ichimoku chart. That is likely to be positive news.

[bitgold] 03/5/2021 16:25

There are stories about an epic silver squeeze, but we’ve heard it all before. I may end up regretting the sale, but let’s see how the banks get on selling their paper silver this month.

Regarding BCOG, Agreed, looks like a sound investment.

[papillon] 03/5/2021 15:05

Both gold and silver really climbing now! If these prices hold, or even go higher, then we should see a good rise in GPM tomorrow.

[papillon] 03/5/2021 13:50

Gold up around 1%. Silver going ballistic. Up well over 2%.

[papillon] 03/5/2021 11:00

Silver outpacing gold this morning. Silver currently up over 1%, whereas gold is only up around 0.5%.

[papillon] 03/5/2021 00:47

I posted a chart on your commodities exposure (BCOG.L) thread, bitgold. Hope you like it.

[bitgold] 02/5/2021 12:00

I totally agree on the Bitcoin situation. It feels like they've given the public a ball to play with to get used to digital currency prior to rolling out their own inferior CBDC versions (timed money, with deductions for expressing the "wrong" opinions on things or socially unacceptable behaviour like eating meat?). To me, it even the name Satoshi Nakamoto has a bit of an NSA feel about it. If they really wanted to track down and find out the who this mysterious founder was, they'd have done so a long time ago.

That aside, still wish I'd bought some!

[papillon] 02/5/2021 11:39

This is Money: Fund giant Ruffer slashes Bitcoin stake after Elon Musk tweets.


More on Bitcoin being seen as an alternative to gold. Is the Bitcoin bubble about to burst? I hope so, because I haven't got any! 🤣 Fingers crossed! 😁

[papillon] 01/5/2021 17:35

This just backs up what I've been posting for sometime. Namely that Bitcoin has supplanted gold and the gold price is going nowhere until Bitcoin takes a dive (when and if that happens).

[papillon] 01/5/2021 17:31

This article suggests silver is currently a better bet than gold.

[bitgold] 30/4/2021 21:13

As another recent poster commented, the discount here is a risk at just 6%. Historically, whenever the discount has dropped to around 5%, there's been a share price fall to bring the discount back to mean. As a long term investor and holder in this one, I took the profit on the 46p subscription shares this week. To me, the negative risk outweighs the positive for the time being.

[papillon] 29/4/2021 21:11

Gold & silver prices currently recovering, whilst Bitcoin is dropping. Long may it continue!

[papillon] 29/4/2021 15:17

Wow, the gold and silver prices just crashed back down. Gold back down to 1756. Silver just follows where the gold price goes. Both gold and silver are volatile, but nowhere near as volatile, percentage wise, as Bitcoin.