Golden Prospect Precious... Share Discussion Threads

[brucie5] 09/2/2016 09:55

At least two factors at play: 1. scarcity of physical ag/au, as a result of pms being traded on the paper market. 2. flight to safety among investors. Investor Paul Singer, who took a big position last year was suggesting that pms should be c5% of folios, whereas I believe it has been recently less than 1%. A shift in a single percent in pension funds would be sufficient to have a very significant effect on prices.

Anyway, looks like we're going up. Bear in mind, this is a very small mcap - smaller probably than most of the companies it invests it.

[mozy123] 09/2/2016 09:41

Cheers Jimbo - Ive never been one for market timing.... Largly just add money monthly and forget. But started back on the gold stocks. They do look good value at multi year lows under the macro environment.

The worlds monetary system is truly a mess. How does the average joe play the RMB devaluation?

[labatie] 09/2/2016 09:39

Just did a dummy trade.

20.375p - 21.999.

[brucie5] 09/2/2016 08:53

Interesting dogberry.

[dogberry202000] 09/2/2016 00:15

GPM established a position in the Aussi big cap miner Evolution Mining some time late last year. The size is unknown. This miner benefits from the Australian exchange rate and low oil prices as it focuses on open pit mining. Their share price has broken out to new highs.

[brucie5] 08/2/2016 18:38

24.74 NAV for yesterday, and pms up today. We've broken through the 150sma, so I'm feeling bullish here now...

[nimbo1] 08/2/2016 16:50

I had a limit order in @ 20.6 which was not filled

[mozy123] 08/2/2016 15:28

yep - some of our holdings up 8-9% add that to the 5% move on friday.

NAV probably north of 26.5p - c 22% discount.

[llef] 08/2/2016 15:05

junior gold miners etf GDXJ up 5.6% in USA...

[mozy123] 08/2/2016 14:37

Hey Wizard - yeah been few years - couldnt sleep through this gold bear market so sold most of my gold stocks a few years ago.

Id expect the fed to reverse course and admit a US recession shortly (April/May). Think the markets already think that. Theres a global shortage of $'s and a deflationary environment but the markets now know theres not going to be anywhere near the 4 rate hikes the Fed has laid out. This is the reason for Gold rallying in recent weeks.

I cant see anymore rate hikes by the Fed so in the medium term so i think the $ will weaken, but there is a shortage of $'s now the Fed has tightened once and compared to the rest of the globe has higher rates. On balance i dont thinkt he $ will go anywhere.

QE4 will probbaly be here by the end of 2016. The party will be back on and my dry powder will be put into an S&P500 Tracker.

The fed wont go negative like the BOJ - as the money market industry is massive in the states.

Happy to hold GPM at its 20% discount to NAV (my estimate) until the Fed reverses course and starts to weaken the $. Gold will reverse when the Fed tells the markets risk is back on.

[tromso1] 08/2/2016 14:36

Finally a small tick up on the bid. A miserly 0.25p though.

[jimbo55] 08/2/2016 13:58

You Gents may appreciate the following report. In a nutshell, a weekly close over $1195 or - even better - $1200 would be an extremely positive technical development:

hxxp://www.peterlbrandt.com/bottom-in-precious-metals/

He's not calling it THE bottom though - not yet anyway. Mr Brandt is a cautious soul. Would totally recommend keeping an eye on his Twitter Feed:



Let's hope the bottom finally happens anyway. I'm keen to see the back of this Bear Market, that I do know. One lesson I've learned from it is to pay more attention to the charts; especially EMA Death Crosses. Looking like a - pardon the expression - Golden Cross of the 21 day EMA through the 50 day EMA for GPM right now. Same thing happened last October though, so best not to get too excited just yet. Personally, I'd like to see the 50 day EMA push up through the 100 day EMA to gain confidence that this rally has legs:

hxxp://www.stockopedia.com/charts/technical/?Code=LON%3AGPM&Span=360&Size=L&Type=3&OVER[0]=&OVER[1]=&MAType[0]=EMA&MA[0]=21&MAType[1]=EMA&MA[1]=50&MAType[2]=EMA&MA[2]=100&IND[0]=Vol&IND[1]=RSI&IND[2]=MACD&IND[3]=SStoch&COMP[0]=&Volume=1&Scale=1&;uniqueID=510&endDate=2016-02-08%2013:45:49

Currently pushing into overbought territory, but that could persist further if Gold keeps pushing towards the $1200 mark... One possible headwind is the following though:



IF the DXY begins to strengthen again - and I think this may already have started - this will likely put a dampener on Gold for the time being. Would love to be wrong about this and see them decouple, but better to remain a realist than get too excited right now...

[brugen] 08/2/2016 13:40

The last buy was right on the edge of the spread at 20.5p so hopefully we should see this move up today. We've had good volume and an increasing NAV discount for the last two days but for some reason the price just doesn't want to move.

[wizard7] 08/2/2016 13:37

Hello Mozy - fancy seeing you here - been a while eh?!

Still waiting personally - a bit overbought in the PM world at the moment I think but signs that the wait is over are defo appearing.

Fancy any LSIL yet?

[llef] 08/2/2016 13:23

good volume too today

[mozy123] 08/2/2016 11:11

Just added some here - first new purchase for 3 years. Hopefully got the bottom.

[tromso1] 08/2/2016 09:35

Would expect another rise in NAV to be announced today.

And for the discount to widen further in price doesn't start to tick up.

[brucie5] 06/2/2016 12:15

Interesting resurgence for pog last night.

M. Somerset-Webb in the FT talking about the effects of negative interest rates in Japan. Could this even lead to a ban in cash, given that peeps can draw out cash without having to pay to use it, unlike cash held in a bank.

I can only think that this will have a tumultuous effect on other forms of wealth storage. Housing? Overvalued, surely. Equities? Harumph. Only for income seekers, and coming with a sharp risk premium to buy that income.

Commodities? Oil? Hmm.

You can tell where this is leading me.

That said, same journalist goes onto discuss the possibility of the reintroduction of capital controls. Not sure effect that might have over ITs holding stock entirely in other countries.

Risks here too, and no mistake. But given the current dilemma facing savers/investors, and the effect that a tiny reapportioning of total savings into pms would have on specialist miners, I can only see this sector going upwards for time being.

[llef] 05/2/2016 20:56

yep, and silver over 15 dollars, and junior gold miners up 4% too.

all this despite reasonably good us jobs figs - v encouraging

[oooff] 05/2/2016 20:49

Gold up nicely, price over $1170.

[llef] 05/2/2016 16:29

junior gold miners GDXJ only closed up 3.5% yesterday (high was 5% up).
Up 1.5% today tho, so hoping it will break yesterdays high now
Gold is surprisingly strong today given the decent USA jobs figs.

[stevieweebie2] 05/2/2016 15:26

now that's more like it.

[tromso1] 05/2/2016 15:24

NAV now up to 24.14

Mid price of 19.75 now at a discount of 22.2% to NAV