Golden Prospect Precious... Share Discussion Threads

[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.

[brucie5] 28/2/2016 13:18

Tend to agree with your analysis that GPM is overextended, but where would you sell, and where buy back in? Bear in mind margin spreads and the possibility that it could well go higher before it goes lower - or otherwise not behave at all according to plan! In the meantime Brexit worries will continue to weaken the £ against the $ and we know what will be a beneficiary of that.



PS. I don't think for a moment that the FED will raise rates any time soon.

[hazl] 28/2/2016 12:31

I think next week will be pivotal,there is still the possibility that the US could raise interest rates,though that had been largely discounted,or that brexit fears lessen.
I must admit I felt 'twitchy' at the end of last week.
Jumbo I think you have a point.
Gold mining shares are equities,though, and whilst they will be affected by any gold-price drop presumably,I still feel they are at or near a bottom.
Make of that what you will but I did take some shares off the table, even though I think they are winners longer-term.

IMO

[brucie5] 27/2/2016 13:59

Yes, 26/27 may be a hard zone to penetrate, but if the bull continues, we will.

This link doing the rounds, and well worth reading, imo. The recovery seems evident, but not yet unequivocal. A shame he didn't post a chart of GPM while he was about it.

;)

[bamboo2] 26/2/2016 21:11

26-27 is the level of recent historical resistance. share price will need to gather its strength to get through...

[brucie5] 26/2/2016 20:51

NAV 29.65. Din't quite get to 30p, but still moves inexorably higher.

[hazl] 25/2/2016 14:06

that's why...perhaps... an opposite trade evenish buyers and sellers today by the looks of it

[hazl] 25/2/2016 13:31

yes I noticed that buy....8-)

expect gold volatility ..is keeping it quiet for now...but good to see interest of that kind

imo