Pan African Resources Share Discussion Threads

[stonedyou] 05/12/2022 11:08

About That Record Central-Bank Gold Buying.

Heaviest gold demand since gold was money...



CENTRAL BANKS as a group bought more gold in the third quarter of 2022 than ever before – a record 399 tonnes, according to the World Gold Council, writes Adrian Ash at BullionVault is this article first published at Das Investment.

That estimate already takes the sector's net demand for January-to-September above any full-year total since 1967, back when the almighty US Dollar was backed by bullion and most other currencies were backed in turn by Dollar and gold reserves.

For gold investors, the largest official-sector purchases since the world was on a gold standard may sound like a cause for celebration. Surely it will send the price soaring? Perhaps it might signal the return of gold as money?

But the move in fact signals growing distrust and geopolitical tension between major economic powers, and while gold has outperformed any other tradable asset class outside energy commodities in 2022 so far, global prices actually fell in Q3 in terms of most currencies. There are 3 further key points to note.

Firstly, the new figure from the mining industry's World Gold Council includes, in its own words, "a substantial estimate for unreported purchases" – and for "substantial" read "heroic".

Data from the International Monetary Fund, also compiled and published by the WGC, says that central banks as a group were small net sellers of gold in Q3. So the third quarter's adjustment in fact equates to more than a third of July-to-September's total gold demand worldwide.

That doesn't mean we should discount the figure. The WGC's data is widely-respected (and rightly so), and some level of adjustment to the central-bank figures is very common, because not all central banks report their foreign-currency or gold holdings to the IMF each month. That leaves a margin to estimate, and the margin is widening.

Across the last 10 years, the WGC's figures now outstrip the growth in reported holdings by almost one-half, totalling an additional 1,500 tonnes and equal to more than 42% of current annual gold-mining output worldwide.

[cinoib] 05/12/2022 09:33

Back in the blue, not before time.All 3 of my gold stocks positive today.

[stonedyou] 04/12/2022 23:11

Mongolia’s central bank purchases nearly 20 tons of gold.

By Xinhua News Agency.


Mongolia’s central bank purchased a total of 19.9 tons of gold in the first 11 months of this year from legal entities and individuals.

As of November, the Bank of Mongolia’s average gold purchase price had been 197,545 Mongolian tugriks (57.7 U.S. dollars) per gram, the bank said in a statement.
Purchasing gold is one of the key ways for the central bank to ensure the country’s economic stability by consistently increasing foreign currency reserves, said the bank.

Mongolia’s foreign exchange reserves fell to 2.8 billion dollars at the end of October, down 36 percent from the beginning of this year, the bank said.
Central banks across the world typically hold gold as part of their foreign exchange reserves.

The Mongolian central bank has set a goal to purchase at least 24 tons of gold in 2022 to increase the country’s foreign exchange reserves.

[stonedyou] 02/12/2022 21:16

Central banks maintain their appetite for gold.

Krishan Gopaul.

Senior Analyst, EMEA World Gold Council.


Central banks continue to accumulate gold according to the latest data available.1 In October – data is lagged by two months – central banks added a further net 31t of gold to international reserves (-41% m-o-m). This initial figure helps lifts global official gold reserves to its highest level since November 1974 (36,782t).

Global central bank gold reserves are back to mid-1970s levels*



Gold purchases were limited to a handful of central banks in October, while none reported a meaningful decline in their gold reserves. The Central Bank of the UAE was the largest buyer in October, adding just over 9t to its gold reserves. This takes y-t-d net purchases to 18t and lifts total gold reserves to almost 74t (3% of total reserves).

The Central Bank of Türkiye (Turkey), the largest gold buyer y-t-d, bought a further 9t of gold in October.2 Its y-t-d net purchases now total 103t, the highest level of buying since 2019 (126t), with gold reserves standing at 498t (27% of total reserves).

The Central Bank of the Republic of Uzbekistan bought a further 9t of gold during the month – the same volume of gold for the fifth consecutive month. Y-t-d net buying now amounts to 37t; total gold reserves to 399t. The National Bank of Kazakhstan added 3t to its official gold reserves in October. This lowers y-t-d net sales to 18t, with total official gold reserves standing at 384t.

The Central Bank of Qatar added 1t to its gold reserves during the month, taking gold reserves to 88t (11% of total reserves). We have updated out dataset to include activity from August, September and October based on data direct from the central bank as this has not yet been reported to the IMF.3 This shows that the central bank bought an estimated 15t during this three month period, taking its y-t-d net purchases to 31t. The Reserve Bank of India also increased its gold reserves by 1t in October, with gold reserves standing at 786t.

[lovewinshatelosses] 02/12/2022 14:55

All of the goldies I have/on my watch list, are down, as is the spot price, so nothing to worry about here (touch wood of course!) PM's are still in an uptrend IMO, so might take a few more here if I can get 16's. Hotter than expected US jobs report is the reason I think.

[cinoib] 02/12/2022 13:33

Well got that one wrong, first it goes even after being down, then down even further inspite of that big rise in gold, I reckon someone sold a few.

[stonedyou] 01/12/2022 21:52

GOLD / USD

$ 1802.93$ 1803.29 UP 29.621. UP 67%

[cinoib] 01/12/2022 20:49

justiceforthemany
Remember ex divi is a day behind here so maybe we will see 8% rise tomorrow or more the way the gold price is going.

[lovewinshatelosses] 01/12/2022 19:59

Agree. My PM's across the pond are doing well today. It would be nice to have the chance to slice a few before the next CPI print, but am happy to hold/add before then anyway.

[cinoib] 01/12/2022 18:35

I can only see it going one way tomorrow if the gold price holds and thats up.

[justiceforthemany] 01/12/2022 17:38

Up 8% today in SA. Market should have priced in the usual SA politics/Ramaphosa clown show.

[lovewinshatelosses] 01/12/2022 12:14

That is a shame, but my own crystal ball also tends to let me down too! Every time I hold a small cap stock long term, it seems to be the wrong call...every time I sell up, it rockets! I tend to trade on the fringes now, while trying to keep a core holding for those that I hope will be a good LTH also. When it works, it is satisfying and tends to create better returns than a simple buy and hold strategy, but that is probably more due to this current economic environment we are in.

[cinoib] 01/12/2022 10:53

Lovewin, Sadly no I sold at around 5p I think, but have been in and out every time it falls back. The last peak I think was around 29 when I sold 1/2. If I had known the crooks in N.Y. were going to spoil the party I would have sold all, but it's that dam crystal ball I keep asking for for xmas that no one ever buys me.

Kickingking, I'd sit tight on what you have if I were you as things in the gold market are about to change for the better.

Justiceforthemany, totally agree as I already checked that one out and wasn't worth the bother.

[lovewinshatelosses] 30/11/2022 21:00

I should say, given the US markets' response to the most recent J Powell talk (and PM paper prices in particular), I may not get 16p this time around, but you might get your 20p sooner rather than later. Or not, of course. GLA.

[lovewinshatelosses] 30/11/2022 18:32

16p range would be good. Can buy back more of my (almost) 19p sales recently if that happens :)

[justiceforthemany] 30/11/2022 16:38

Buying back in and paying fees and stamp duty will cost you a lot more though.
Better to hold.

[kickingking] 30/11/2022 15:50

It seems like everyone has decided to skip the dividend knowing that the drop will be more then the divi minus SA tax. Anyone holding will now have the drop today, followed by another tomorrow. Looks like 16p range again. This share has gone nowhere since I purchased, think I might have been in profits for one day.Come 20p and I'm out, unless gold goes on a run back to $1900

[lovewinshatelosses] 29/11/2022 21:10

Sadly, I was not in this one (or any others, for that matter) back then. I hope you kept some of your 2p shares! It feels like one to simply buy and hold in many ways. If it was located in a north American country, I probably would. Certainly one of the more impressive PM miners in the world IMO and right up there as far as minor miners go. Would have thought it a prime takeover candidate for one of the big boys, especially as we are starting to see some consolidation in this space. Maybe one day. Hopefully at a point in time where I am a holder...now would be good, or better still closer to 22p, when I will probably start thinking of taking profits :)

[cinoib] 29/11/2022 20:43

Lovewin, think I first bought this one in 2001 or 2 at just over 2p and have been in and out a lot since then.

[stonedyou] 29/11/2022 16:27

The following salient dates apply:

Currency conversion date Thursday, 24 November 2022

Currency conversion announcement released
by 11.00 (SA time) Friday 25 November 2022

Last date to trade on the JSE Tuesday, 29 November 2022

Last date to trade on the LSE Wednesday 30 November 2022

Ex-dividend date on the JSE Wednesday, 30 November 2022

Ex-dividend date on the LSE Thursday, 1 December 2022

Record date on the JSE and LSE Friday, 2 December 2022

Payment date Tuesday, 13 December 2022

[1hughb] 28/11/2022 19:27

PAF comes up as a value stock here: Https://youtu.be/LMv0ZJ07oow

[stonedyou] 28/11/2022 13:53

2. SALIENT DIVIDEND DATES

Shareholders are referred to the Group's provisional summarised audited results
that were released on 14 September 2022, wherein an exchange rate of South
African Rand (ZAR) to the British Pound (GBP) of GBP/ZAR:19.90 and an exchange
rate of ZAR to the US Dollar (USD) of USD/ZAR:17.30 was used for illustrative
purposes to convert the proposed ZAR dividend of 18.00000 ZA cents per share
into GBP and USD, respectively.

Shareholders are advised that, following the approval of the final dividend at
the AGM, the exchange rate for conversion of the final ZAR dividend into GBP
has been fixed at an exchange rate of GBP/ZAR:20.71 which translates to a final
GBP dividend of 0.86915 pence per share and the exchange rate for conversion of
the final ZAR dividend into USD for illustrative purposes is USD/ZAR:17.01,
which translates to an illustrative final USD dividend of US 1.05820 cents per
share.

The following salient dates apply:

Currency conversion date Thursday, 24 November 2022

Currency conversion announcement released
by 11.00 (SA time) Friday 25 November 2022

Last date to trade on the JSE Tuesday, 29 November 2022

Last date to trade on the LSE Wednesday 30 November 2022

Ex-dividend date on the JSE Wednesday, 30 November 2022

Ex-dividend date on the LSE Thursday, 1 December 2022

Record date on the JSE and LSE Friday, 2 December 2022

Payment date Tuesday, 13 December 2022