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PAF Pan African Resources Plc

20.70
-1.15 (-5.26%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pan African Resources Plc LSE:PAF London Ordinary Share GB0004300496 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.15 -5.26% 20.70 20.70 20.80 22.00 20.65 22.00 4,309,796 16:29:49
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 321.61M 60.74M 0.0317 6.53 396.72M
Pan African Resources Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker PAF. The last closing price for Pan African Resources was 21.85p. Over the last year, Pan African Resources shares have traded in a share price range of 11.92p to 22.30p.

Pan African Resources currently has 1,916,503,988 shares in issue. The market capitalisation of Pan African Resources is £396.72 million. Pan African Resources has a price to earnings ratio (PE ratio) of 6.53.

Pan African Resources Share Discussion Threads

Showing 14926 to 14941 of 14950 messages
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DateSubjectAuthorDiscuss
12/3/2024
12:08
Gold: This Breakout Is Unambiguous.

Review

After a sharp two-month rise to a new all-time high of USD 2,149 on December 4th, the gold market experienced a sharp pullback to USD 1,973 in the final weeks of the old trading year, followed by a rapid recovery to USD 2,088. To digest this overall quite tumultuous market activity, gold prices entered a slow and confusing sideways phase since the beginning of the year. This was necessary to calm down the overbought situation after this rollercoaster ride. Gold – This breakout is unambiguous.

During this consolidation, all attempts to break out on the upside repeatedly failed at the resistance zone around USD 2,055. At the same time, the psychological level of USD 2,000 resisted the bear attacks. Only in mid-February did they seem to successfully break through to the downside. However, the drop below USD 2,000 quickly turned out to be a bear trap because, starting from the low of USD 1,985, gold prices reclaimed the psychological round number support with a closing price of USD 2,004 on the next trading day.


Bear Trap Below USD 2,000

Subsequently, gold prices rose steeply and continuously for a total of 18 trading days from that February 14th. Since breaking through the downtrend line at USD 2,055 on Friday of the previous week, this rally has accelerated. Gold prices not only effortlessly surpassed the old all-time high at USD 2,075 but also reached the highest level ever, peaking at USD 2,195 during last Friday.

Undoubtedly, this marks the definitive end of the 13-year correction and consolidation phase that repeatedly hindered bullish efforts in the range between USD 1,900 and USD 2,075. Consequently, the steep breakout rally pushed gold up by over USD 210 in a very short period of time. Regardless of short-term pullbacks or interim consolidations, this likely signifies only the beginning of the next major uptrend in the precious metals sector!

Source: Tradingview

After the initial attempt failed back in December, gold finally and decisively surpassed the major resistance of the last three and a half years around USD 2,075 on Friday, 1st of March. This bullish price action confirms the significant inverse head and shoulders formation and brings an end to the long wait. The target from this formation is approximately USD 2,535 and could potentially be reached in one volatile surge!

However, on the weekly chart, gold prices are currently trading well outside the upper Bollinger Band (USD 2,153). Statistically, the air is somewhat thin with prices around USD 2,180 at least in the short term.

Yet, it is essential not to underestimate the fact that the energy accumulated over three and a half years is now being unleashed in the gold market. The momentum is clearly on the side of the bulls. It can also be assumed that after the two-and-a-half-month consolidation, the ongoing rally is unlikely to end after just three weeks. In case of doubt, the new uptrend may continue swiftly but with volatility.

Overall, the weekly chart is bullish. Gold should be on its way towards USD 2,535 in the medium term. Significantly higher prices are also conceivable afterward. Possible pullbacks to the old resistance zone in the range between USD 2,075 and USD 2,100 should still be anticipated and would be a buying opportunity.

Daily Chart: Stochastic Bullish Embedded

stonedyou
11/3/2024
15:20
GOLD / USD
$ 2183.89$ 2184.00 4.86 0.22%

GOLD / GBP
£ 1704.84£ 1704.99 10.51 0.62%

GOLD / EUR
€ 1999.77€ 1999.89 8.20 0.41%

stonedyou
11/3/2024
15:17
GOLD / USD
$ 2182.77$ 2182.95 3.74 UP 0.17%

GOLD / GBP
£ 1703.62£ 1703.81 9.29 UP 0.55%

GOLD / EUR
€ 1998.88€ 1999.03 7.31 UP 0.37%

stonedyou
11/3/2024
15:11
GOLD / USD
$ 2181.90$ 2182.07 2.87 UP 0.13%

GOLD / GBP
£ 1702.93£ 1703.08 8.61 UP 0.51%

GOLD / EUR
€ 1997.62€ 1997.78 6.05 UP 0.30%

stonedyou
11/3/2024
14:21
"BE READY! Massive Gold & Silver Squeeze Is On Its Way" - Michael Oliver | Gold Silver Price

Bullion News
18.6K subscribers


5,602 views Mar 8, 2024 #inflation #fed #gold

"BE READY! Massive Gold & Silver Squeeze Is On Its Way" - Michael Oliver | Gold Silver Price
#michaeloliver #gold #silver #fed #inflation #economy

Michael Oliver is an expert in economics, investing, precious metals, and technical analysis. He entered the financial services industry in 1975 and began in 1980s to develop his own momentum-based method of technical analysis.

Share this video with a friend if you found it helpful. Make sure to subscribe for daily content about gold, silver, investing, financial education, finance, economy, building wealth, etc.

stonedyou
11/3/2024
14:06
COMMODITY REPORT: Gold, Silver & Crude Oil Price Forecast: 8 March 2024

TheGoldAndSilverClub


The Gold & Silver Club is the world's leading authority on Commodities Trading, Research and Data-Intelligence specializing in the Metals, Energy and Agriculture markets.

Read Our Client Testimonials Here ▶

stonedyou
11/3/2024
14:00
Rebecca Patterson says China is biggest factor driving gold prices higher.

CNBC Television.


26,917 views Mar 8, 2024

Rebecca Patterson, Fmr. Bridgewater chief strategist, joins the 'Fast Money' traders to discuss gold hitting record highs and what is behind the run.

stonedyou
11/3/2024
10:27
Gold up, gold stocks up and this goes down. Looks like it will take a 2,300 break through to push this up and we are raking in best part of a $1,000 an oz profit
cinoib
09/3/2024
11:45
AuAg Funds founder and CEO explains why now is gold miners' time to shine.

Published: 12:18 08 Mar 2024 GMT


AuAg Funds founder and CEO Eric Strand joins Proactive's Stephen Gunnion with the latest developments affecting the gold price and gold miners included in the AuAg ESG Gold Mining UCITS ETF (LSE:ESGP).

Strand said gold prices near all-time highs is very advantageous for gold miners, despite a historical lag in their response to gold price increases. The costs for miners have stabilized while gold prices are rising, promising improved profitability. Strand emphasizes the leverage effect in gold mining, where a 20% increase in gold price could result in a 40% gain for gold miners, attributing this to the net return difference between gold prices and operational costs.

Furthermore, he highlighted gold miners as undervalued, both in relation to gold and historically against the S&P 500. The current market dynamics, with strong holdings and reduced retail investor presence, present a ripe opportunity for valuation adjustments. Strand also notes a trend towards shareholder-friendly practices among miners, including reduced debt and cautious project investments, potentially avoiding past mistakes.

Consolidation activities within the sector are acknowledged, with a preference for acquiring known entities over costly exploration. The mid-sized companies are viewed as prime targets for larger firms, indicating a dynamic market.

Lastly, Strand projects a 20% rise in gold prices for the year, targeting nearly $2,500 by year-end, driven by anticipated lower interest rates and the sustaining momentum above $2100, which fosters a positive outlook for continued investment in gold.

stonedyou
09/3/2024
08:50
Profits increasing What's not to like.One of the best gold miners around
saint in exile
08/3/2024
17:55
Just look at that gold price 2184 an a high of 2,195. if that holds for Monday then I expect at least 1/2p on Monday or better.
cinoib
08/3/2024
15:51
Scramble on to buy gold rings despite record prices.


People flocked to buy 24K gold rings when prices of the precious metal rose to an all-time high.
24K bullion and ring prices respectively surged 0.37% to VND81.25 million (US$3,290) and 0.29% to VND68 million per tael at noon on Thursday, and at that time the Saigon Jewelry Company (SJC) store on Nguyen Thi Minh Khai Street in HCMC’s District 3 was filled with customers.

Hanh of District 5 said he prefers to keep his money in gold instead of a bank account.

He usually buys bullion but decided to switch to gold rings since the government has floated the idea of abolishing SJC’s bullion monopoly.

Buying gold is his way of accumulating wealth in the long term, and so prices do not bother him, he said.

A buyer from Tra Vinh Province said she told her son to go to an SJC store to sell the 10 taels of gold bars she had been saving for years and buy gold rings.

"They have the same purity, yet gold rings are much cheaper than gold bars, and so I switched to that. For me, gold is still better than deposits for wealth preservation."

An SJC store employee said there has been a rush to buy rings in the past few days, and the store is running out of stock.

"This has never happened before."

Other jewelry brands like DOJI and PNJ do not usually keep large stocks of 24K gold rings, and so they quickly ran out as demand soared.

On Thursday morning a PNJ store in District 5 only had 10 two-tael gold rings left and a customer came in and bought all of them, an employee recounted.

"The entire [PNJ] chain is low on supply and it is unclear when stocks will be replenished. So we currently prioritize selling to buyers who place orders in advance."

A DOJI store in the same district received 200 taels of gold rings in the morning and sold the entire lot by afternoon, with one customer buying 135 taels.

Traditionally 24K gold rings are bought as gifts despite the fact they have the same purity as bars.

They have become popular ever since Prime Minister Pham Minh Chinh announced recently plans to narrow the gap between Vietnamese and international bullion gold prices.

As of Friday morning, SJC 24K gold ring prices has increased to VND68.3 million per tael, while bullion slid to VND81.5 million.

stonedyou
08/3/2024
14:54
MARKETS

As gold scales all-time highs, Wall Street analysts say it has even further to go.

Gold is scaling record highs, with the gold contract for April closing above $2,100 per ounce for the first time.

Analysts at Citi describe themselves as “medium-term bullion bulls,” and see gold as a developed market “recession hedge.”

Recent moves have been attributed to firmer market expectations on a June rate cut from the Federal Reserve.

Gold prices pushed higher Tuesday after futures pricing for the precious metal notched fresh records in the previous two sessions — with analysts seeing strength lasting at least into the second half of the year.

The gold contract for April
on Monday closed above $2,100 per ounce for the first time, and was up 0.37% at $2,134.2 at 1:15 p.m. in London. Spot gold
was trading 0.7% higher at $2,129, though market-watchers note that in real terms, adjusted for inflation, gold is well below past peaks.

In a Monday note, analysts at Citi described themselves as “medium-term bullion bulls,” calling a 25% probability of gold averaging a record $2,300 per ounce in the second half. Their base case remains $2,150, and they reiterated a “wildcard” call for trade reaching $3,000 over the next 12 to 16 months.

Citi describes gold as a developed market “recession hedge,” and increasingly see tailwinds from uncertainty around the U.S. election in November.

Analysts at Berenberg also noted Monday that a Donald Trump victory in the election would provide a “major positive for gold,” with further support for the safe-haven asset from volatility around the ongoing wars in Ukraine and Gaza.

stonedyou
08/3/2024
13:37
Gold soaring to near $2,200
PAF making profits ++
Forward P/E 4

justiceforthemany
08/3/2024
08:17
Central Banks Boost Gold Reserves to Diversify from the Dollar
By ZeroHedge - Mar 07, 2024, 1:00 PM CST

Central banks globally are likely accumulating gold as a strategy to diversify away from the dollar, in light of concerns over persistent US fiscal deficits and inflationary pressures.

Despite stable dollar and higher real yields, gold prices have soared to 50-year highs against most major currencies, driven not by ETFs or seasonal buying but by central banks' purchasing.

The increase in gold holdings by central banks, notably in China, Germany, and Turkey, underscores a broader trend towards safeguarding reserve assets from potential dollar devaluation and financial system risks.

Powell might not be overly worried about inflation - with his recent comments reiterating the Federal Reserve is on track to cut rates this year - but other central banks are not so relaxed. Gold’s new high signals global central banks are likely accumulating the precious metal in an effort to diversify away from the dollar, as persistently large fiscal deficits threaten to further erode its real value and lead to more inflation.
Gold’s move in recent days has been broad as well as pronounced (as well as hinted at by low gold vol), with the precious metal making 50-year highs versus three-quarters of major DM and EM currencies. The biggest holdings of gold after jewellery are for private investment - ETFs, bars and coins - followed by central banks’ official reserve holdings.

The dollar has been stable and real yields (which anyway have a non-linear relationship with gold) are higher over the last three months. The bulk of seasonal buying, for instance Diwali in India, is likely behind us. Further, silver has not participated in the rise. It’s therefore a reasonable supposition the official sector, i.e. central banks, has been a significant driver of gold’s recent ascent to new highs.



In the runup to the pandemic, and again in the aftermath of Russia’s invasion of Ukraine, global central banks have continued to add to their gold holdings even as ETF investors (perhaps dazzled by the bright lights of crypto) have reduced theirs.

stonedyou
07/3/2024
23:19
"While the price spike has driven some selling, demand will be up after some time as people get used to these levels," especially on safe-haven demand, said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.

Asian buyers are known to be price-sensitive, but that might change, said Ross Norman, an independent analyst based in London.

"The mindset changes, and as the market goes higher, it almost validates the reason you're buying," Norman said.

Analysts said the surge in gold prices could also attract some new investor interest in other regions.

A sustained rally could revive buying activity in Germany, a key retail hub for coins and bars, said Alexander Zumpfe, senior precious metals trader at Heraeus.

stonedyou
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