Golden Prospect Precious... Share Discussion Threads

[diamond1] 21/5/2021 16:28

One thing is for sure, Bitcoin is proving what an unstable monetary exchange mechanism it is. Can't see it lasting a lot longer in it's current form.

Imagine selling your car for £15,000 worth of Bitcoin, only for it to be worth half that the following day. Businesses can't work like that. They need stable exchange rates as they do business months in advance.

The sooner 'Private' digital currencies are dumped, the better. Not sure about government ones.

[papillon] 21/5/2021 16:08

There will be support for Bitcoin @ 20k, DIAMOND1. If Bitcoin drops that low and that key support level fails who knows how far it will fall?

[diamond1] 21/5/2021 15:57

I watched a video earlier that suggested Bitcoin's recovery to $40,000 was a 'Dead cat bounce.' Interviewee suggested it could drop below $25,000 and then some.

[papillon] 21/5/2021 15:26

Big percentage drop in Bitcoin and other crpytos. Gold & silver also down, but small percentage drops. Must have been release of USA economic data. DOW and oil price up.

[diamond1] 21/5/2021 15:14

Back down to $1875. The Roller Coaster continues.

[diamond1] 21/5/2021 14:12

Yes, I know papillon, and it looks like it's doing the same again. As I said, it's consolidating at it's new level. How long that will last? Who knows?

[papillon] 21/5/2021 14:00

It got up to 1890 intraday on Wednesday, DIAMOND1, before falling back down. Let's hope it improves on Wednesday! Fingers crossed.

[diamond1] 21/5/2021 13:50

Ha, ha, ha, ha. It was bound to happen. As soon as I posted about the $1880 level, it burst right through.

C'mon Gold, $1,900 next test!

[diamond1] 21/5/2021 13:14

papillon,

The resistance in the Gold price seems to be around $1880 and it's not that surprising. Getting through $1850 which took it above the 200 day moving average was the biggest hurdle. Now I think that we are in another consolidation phase.

We all want higher Gold prices, but if the Gold price suddenly goes parabolic, then it's time to get out. Slow and steady always wins the race.

I'm sticking to my forecast that we won't see any real action in the Gold price until the second half of this year. If I was to stick my neck out, I'd say September or October.

[papillon] 21/5/2021 11:47

Regarding the gold price there's a lot of resistance in the 1850-1900 range. It goes back to the high reached 10 years ago. We had a break above that resistance last summer and the gold price made a new high above 2000. Unfortunately it didn't last and the price soon fell back. If the price can breakout again above 1900 and then break above last summers high, then it's possible the gold price could go on to 3000, since a break above last summer's high would form a very bullish Cup & Handle chart pattern with a possible target share price of 3000. Will that happen and over what time frame? I haven't got a crystal ball! All I can do is hope and keep my fingers crossed!
We're all only gambling after all. By holding GPM I'm gambling that the bullish Cup & Handle pattern forms on the gold chart and 3000 is achieved, hopefully 3000+. If that happens I envisage a GPM share price in excess of £2. Fingers crossed!

[papillon] 20/5/2021 22:23

Do watch this video. It features the charts and predictions of the foremost precious metals chartist, Jordan Roy Byrne. Do be quick and watch it because he's taking it down soon.
I think we are heading for massive gains in the both the gold and silver prices over the next few years.

[papillon] 20/5/2021 16:01

I wonder if the gold price will make an attempt at 1900 today? Looking at the daily chart it appears possible. Currently 1878.

[papillon] 19/5/2021 17:03

Thanks, DIAMOND1, I'll have a look at ATM.

Gold is doing better than silver a platinum today. In fact most metals are down on the day, apart from gold.

[papillon] 19/5/2021 16:01

Yes, DIAMOND1, I'm rather baffled why the GPM share price is down today, especially now that gold is up on the day.

[diamond1] 19/5/2021 15:26

Bitcoin drops 17% and Gold and Silver are now benefiting.

As people leave the cryptos (Too volatile.) they are piling into Gold and Silver instead. This could be the catalyst for substantially higher metal prices, and therefore a substantially higher GPM price, although the share price here is yet to reflect the chaos out there.

[papillon] 19/5/2021 12:19

A massive 169k (£103k) buy was reported after 4:30pm yesterday. I hope their optimism is vindicated in the weeks and months ahead. Fingers crossed! 😁

[papillon] 19/5/2021 11:05

Gold & silver are falling like they did on late morning Monday. Will we soon a bounce back up? Oh for a crystal ball! 😁

[podgyted] 18/5/2021 22:30

Don't put words into my mouth.

I was simply pointing out that analysing the GPM/Gold/Silver charts would miss looking at was happening to the underlying shares (the top 10 are published). One of those shares yesterday had fallen by over 25% - I was using that as an example. In no way was I suggesting that the overall NAV had gone down.

(BTW I'm not stupid enough to think anything said on this BB has any impact on the SP)

Last post.

[papillon] 18/5/2021 15:38

Note to podgyted. The GPM NAV went UP, yesterday, NOT down as you did your best to suggest last night! It went UP from 59.81p on Friday to 61.40p yesterday. See RNS's dated today and yesterday. That's a 2.66% rise! Better luck next time podgyted! 🤣

[toffeeman] 18/5/2021 10:49

>> Ian_2

woof woof

[ian_2] 18/5/2021 10:39

A big positive for me is that this thread only attracts "two men and a dog". When the crowd finally catch on to the potential here,things will really get interesting IMHO.