Golden Prospect Precious... Share Discussion Threads

[brucie5] 08/3/2016 18:56

NAV 31.75.

But I expect some retrace tomorrow...

[brucie5] 07/3/2016 18:02

NAV 31.30.

Into the 30s at last.

[stevieweebie2] 07/3/2016 13:04

Nice volume

[dogberry202000] 05/3/2016 19:27

Those were great prices at which to buy. I bought some at those levels and more on the way up. However, I bought significant amounts in the mid 40s and 30s, so I'm still way under here. But I don't mind as I am happy to hold as this is a diversified investor with some excellent holdings.

Most of my holdings are in US and Canadian miners. I've found miners on the AIM to be too dodgy, so I've only have a couple of those.

According to one of my favoured chartists the next "resting" place for gold is likely to be $1400 gold where it will likely form another flag before rising again to $1500 - 1530. Meanwhile companies like this one might well double or treble from here.

Trying to be too clever through trading could easily lead to have been bucked off one of the greatest bull markets in history. It sure will need a strong will to stay on this bull and resist the temptation to trade onself out of it.

[brucie5] 05/3/2016 17:17

Yes. This could be potentially a very powerful new trend, and I'm trying to resist the temptation to trade. My purchases so far have been all completed between 18.50 and 19.50, and went in with both feet. Since then I've diversified into some HOC, to get more silver, KAZ for copper, and VED for industrial metals, oil and Indian exposure. I already held some JLP, which I see as a potentially powerful play on platinum, if the company finally manages to produce. But it seems to me that GPM has everything you could wish for, in order to ride a pms wave from its historic bottom, without trying to be too clever, which I'm not! And you're paying for managers who will hopefully put their experience to work on our behalf, in terms of how they decide to finesse this market.

As dilbert says, look at the longer timescale and the gap goes to £1.20; but if silver & gold go to new highs, it could be a rally that you do better not to sell, like house prices between 1996 and the 2016. A twenty year up cycle. Which would be very nice!

I continue to think that it's a very simple proposition: in an environment where cash is being effectively taxed through negative interest rates, savers will need to made pms part of their asset base, and this could reach 5-10%, if Paul Singer is right. That would imply a complete revaluation of miners.

And I wouldn't need to work till I'm 78...

[weyweyumfozo] 05/3/2016 11:58

That graph has reminded me not to sell too early. Also, it shows the high volume of the recent rise.

[dilbert dogbreadth] 05/3/2016 08:46

To get perspective of this move pull up a 10 year graph

[llef] 04/3/2016 14:47

GDXJ up 4.8% now

RSI over 70 on both daily and weekly timescales

above the bollinger bands on both daily and weekly too.

enjoying the rocket ship for now tho...

[llef] 04/3/2016 14:40

junior gold miners up another 3% in states today...

[dogberry202000] 04/3/2016 09:33

Had to pay up to buy more.

[stevieweebie2] 04/3/2016 09:30

Sweeeeeeeeeeeeeeeet.

[llef] 04/3/2016 09:04

and gold is making a new 2016 high too today...

[llef] 04/3/2016 08:47

GPM playing catchup with the miners in NYK last night..

[brucie5] 03/3/2016 18:14

NAV. 29.05.

[dilbert dogbreadth] 03/3/2016 16:05

we're going up soon

[brucie5] 02/3/2016 17:43

The ftsie has retraced right back up to the 150ma. Will be interesting to see if it gets knocked back. In general you might expect au/ag to be inversely correlated, though GPM was taken down with th rest of them in 2008.

[brucie5] 02/3/2016 17:15

NAV. 29.13. KDX, FRES, SLW all very slightly up. HOC up a bit more. And a stonking day for industrial miners.

[brucie5] 01/3/2016 19:37

NAV 29.26. Profit taking in KDX, FRES & SLW.

[brucie5] 29/2/2016 19:13

NAV 29.35, which is slightly down.

Fres up. Hoc up 4%.

[llef] 28/2/2016 16:50

Yep Brucie5, that's my thinking: keep GPM as a core holding, but use SPGP to try and trade spikes up and down in the bigger gold miners. (Easier said than done of course!)

[brucie5] 28/2/2016 16:10

I've heard of it - but it's paper gold, so while I guess may give you greater flexibility to trade, GPM is mainly the real thing. You probably want a mixture of both.

[llef] 28/2/2016 14:24

I am a holder of GPM, but am a bit dismayed at the wide b/o spread, and the persistent discount to NAV.

These two issues have got me thinking that I if want to increase my exposure to gold miners on a break of Gold above 1260, then I should buy SPGP instead (Gold miners ETF, which holds Barrick, Newmont, Rangold etc).

Does anyone else hold SPGP in addition to GPM?

[brucie5] 28/2/2016 14:09

Good luck with that. Will be interesting to see how you manage your trades.

[jimbo55] 28/2/2016 13:54

I'm been trickling funds into GPM over the last few weeks, but holding some in reserve for a correction. Right now, I think if you held a gun to my head I'd sell a trading stake now and buy back when the RSI hits somewhere between 50 - 60. However, really depends on how Gold behaves, i.e. when strong buying starts again on the next fall. To be honest, I've not sold yet and would be happy to stomach a 10 - 20% correction. The only thing that would force me to rethink this would be if the 50 day EMA death crosses through the 100 day EMA. Again though, any sell decision would depend on the price action in Gold mirroring this, and also the major miners such as Randgold. The following Randgold chart is begging for a correction:

hxxp://www.stockopedia.com/charts/technical/?Code=LON:RRS&Span=360&Size=L&Type=3&Percentage=0&Volume=1&OVER[]=&OVER[]=&Scale=0&COMP[]=&COMP[]=&COMP[]=&COMP[]=&COMP[]=&IND[]=Vol&IND[]=RSI&IND[]=MACD&IND[]=SStoch&MA[]=50&MA[]=100&MA[]=200&;MAType[]=EMA&MAType[]=EMA&MAType[]=EMA&uniqueID=610&endDate=2016-02-28

Looking at that chart, I reckon Randgold are going to rollover and properly correct this week. I'd like to see what happens when/if the correction in RRS hits the 50 day EMA before coming to any kind of decision on staying in or exiting GPM.

In a nutshell, I guess what I'm trying to say is I don't plan on trying to get clever by attempting to trade GPM right now (if I'd already held Randgold, that would be a different story). However, I will be keeping a close eye on the metal itself and major miners to see how they behave during a correction and will modify my strategy accordingly; especially if the EMAs on the Randgold chart death cross back into bear market territory (looking at the strength of the recent Randgold move though, I think that's unlikely).

[hazl] 28/2/2016 13:48

Everybody has discounted the rise,that's my point.
BUT You never know and you have to sometimes be aware that the unexpected can happen.