Pan African Resources Share Discussion Threads

[lovewinshatelosses] 19/4/2023 12:29

There is the pull back that I felt was coming...give me 17p ish for another nibble, then a bigger bite if we retest the 50 DMA. GLA.

[stonedyou] 14/4/2023 13:42

Gold IG Client Sentiment: Our data shows traders are now net-short Gold for the first time since Apr 06, 2023 04:00 GMT when Gold traded near 2,007.65.

NUMBER OF TRADERS NET-SHORT HAS INCREASED BY 14.94% FROM LAST WEEK.


Gold: Retail trader data shows 49.00% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Apr 06 when Gold traded near 2,007.65, price has moved 1.58% higher since then. The number of traders net-long is 8.05% lower than yesterday and 2.75% lower from last week, while the number of traders net-short is 26.48% higher than yesterday and 14.94% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Gold prices may continue to rise.

Our data shows traders are now net-short Gold for the first time since Apr 06, 2023 04:00 GMT when Gold traded near 2,007.65. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Gold-bullish contrarian trading bias.

[stonedyou] 14/4/2023 13:27

Perth Mint Reports Sizable Rise in March Bullion Sales

By CoinNews.net - April 14, 20231

March sales of Australian bullion sharply increased from the prior month for both gold and silver products, according to figures from The Perth Mint of Australia. Both were well lower, however, in the first quarter compared to the same period last year.


The Mint’s bullion sales were set against soaring precious metals in March, with LBMA prices (USD) jumping 8.5% for gold and skyrocketing by 16.4% for silver. The first-quarter results were mixed, with precious metals prices increasing by 9.2% for gold while, silver prices slid by 0.3%.

Perth Mint Gold Bullion Sales in March and First Quarter 2023

Perth Mint’s March sales of minted gold coins and bars combined totaled 80,541 ounces, the most since November. This represents an increase of 54.2% from the prior month, but a 34% decrease from March of last year.

"North American distributors reacted swiftly to developments in the banking sector, increasing the overall level of orders for both gold and silver minted products," said Neil Vance, General Manager Minted Products. "The local market also reflected the safe haven appeal of precious metals with a sharp uptake from our Australian clients."

The Perth Mint’s gold sales for the quarter were 197,177 ounces, which is 24.6% lower than the 261,357 ounces sold during the same period last year.

[blue59] 13/4/2023 20:39

An excellent day!!

[stonedyou] 13/4/2023 16:10

The Gold Bull Market Is Just Getting Started.

Christopher Yates, CFA

1.32K Followers

Summary

Real yields look to be in the process of peaking for this cycle, meaning we are likely in the early innings of a renewed bull market in precious metals.

Another key ingredient to a sustained bull market for the yellow rock is a bear market in the greenback.

There is still plenty of room for prices to be driven higher by leveraged speculators.

If we are entering a secular period whereby real assets outperform financial assets, then gold and precious metals will be at the forefront.


Beginning of the next bull?


Gold and precious metals have continued their stellar start to the year. On the back of banking crisis induced liquidity injections and the near unanimous view that policy makers are done hiking, gold has priced this in with aplomb and is now testing its all-time highs.

While there has been a clear shift toward favourable fundamentals for the precious metals space, whether this is the beginning of a new bull market remains to be seen. But, the signs are there. Let’s dig in.

Real yields are peaking, bullish for gold

Despite the fact that real yields have been pushed into positive territory (bearish for gold) for much of the past year as a result of this hiking cycle, gold has avoided selling off to any material degree. In fact, it has held up remarkably well in the face of such a material headwind. Given the consistent negative relation been the two over time (gold is a negative-yielding asset, so when real yields are negative on fixed income securities, it reduces the opportunity of cost of owning gold, and vice versa, hence their negative correlation), gold’s resilience in the face of the highest level of real yields in over a decade has been remarkable. With real yields having moved lower over the past couple of months and a banking crisis to boot, it is unlikely we will see materially higher real yields anytime soon.

[cinoib] 13/4/2023 15:45

19p now we are smiling.

[lovewinshatelosses] 13/4/2023 15:40

This must be ii action. Seems to be rising far quicker than all the other PM miners today.

[justiceforthemany] 13/4/2023 15:12

Keep saying fair value here is 30p+ but small steps and all that - 20p first hurdle to cross.

[lovewinshatelosses] 13/4/2023 15:06

Not used to seeing PAF rip to the upside like this. Most pleasing. What a difference in just a single month, eh? Still taking nothing for granted. Do not forget who we are up against. GLA.

[justiceforthemany] 13/4/2023 14:30

Shanta was not even profitable last year. It made a loss. Even with increased production I am not convinced.

[stonedyou] 13/4/2023 12:50

Bank of America Says Gold Could Reach $2,500.


Bank of America Says Gold Could Reach $2,500

Gold stocks are pushing higher. Last checked, the metal was up another $11 to $2,003.57, and could see higher highs. Helping, “The biggest banking crisis since the Great Financial Crisis of 2008 prompted investors to flee into gold last month, ending ten consecutive months of outflows, according to the latest report from the World Gold Council,” as noted by Kitco.com. “In its monthly ETF report, the WGC said 32 tonnes of precious metal, worth $1.9 billion, flowed in global gold-backed exchange-traded products in March.” In addition, Bank of America says gold’s rally to its “all-time high of $2,078 could signal the start of a two-year bull run, which could push prices above $2,500 an ounce,” as also noted by Kitco.com. That’s all positive news for Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) , Newmont Corporation (NYSE: NEM) (TSX: NGT), Kinross Gold Corporation (NYSE: KGC) (TSX: K), and B2Gold (NYSE: BTG) (TSX: BTO).

Look at Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF), For Example

[cinoib] 13/4/2023 11:09

Lovewin, well there goes 18p and good riddens. If gold keeps rising steadily we might get 20p next week. A few Shg might be as good a bet as well. I just added some today.

[lovewinshatelosses] 12/4/2023 21:52

Still here Cinoib. Yes, hopefully, but never a good idea to look too far ahead with stocks. Could just as easily pull back hard if/when the 'next shoe drops', as the Americans like to say. Which would be fine by me, because I am ready to add considerably more if we get one of those mass sell-offs. VIX at 19. Crazy calmness, IMO :)

[cinoib] 12/4/2023 20:25

Lovewin, hope you are still with us, at this rate we could see 20 by summer hols and 25 for Xmas.

[stonedyou] 11/4/2023 21:54

China Keeps Stockpiling Gold, Adds 18 Tons in March to Reach 2,068 Tons in National Reserve.

The People’s Bank of China (PBOC) reported an increase in the country’s gold reserves of 18 tons in March, continuing its buying spree. China has consistently added to its gold reserves since November, purchasing more than 100 tons in the last five months. The Asian state now has 2,068 tons in its coffers.

China Purchased 18 Tons of Gold in March, PBOC Reports Show
China further increased the size of its gold reserves in March. According to reports from the People’s Bank of China, the size of the national Chinese gold reserve increased by 18 tons in March, reaching 2,068 tons in total. The purchase marks the continuation of a five-month buying spree that the country executed starting in November last year.

After no reports of gold purchased since 2019, the country has been consistently buying gold, having purchased 102 tons in the aforementioned five-month period. The demand for gold has been strong in 2023, according to the World Gold Council, which believes that central banks will keep hoarding gold this year.

In 2022, the same institution registered record numbers in central bank gold purchases, with central banks acquiring their highest amounts of gold since 1974. The reasons behind this renewed gold rush have to do with the need to seek refuge in safer assets during inflationary times.

According to economists, China might be preparing for the issuance of a gold-backed currency as part of the BRICS strategy to reduce dependence on the U.S. dollar. In October, Craig Singleton, a senior fellow at the Foundation for Defense of Democracies, explained this might be the case given the high quantity of gold purchased by the nation.

More recently, State Duma Deputy Chairman Alexander Babakov stated that such a currency might be presented at the BRICS summit in August, potentially being backed by gold and other commodities.


Gold Price Predictions

The continued demand for gold by central banks and the macroeconomic headwinds that some of the biggest world economies are facing has caused analysts to predict a rise in gold prices in the future.

Jan Nieuwenhuijs, a gold market analyst, has stated that gold prices might touch the $8,000 mark in the next decade, as central banks start shedding foreign currency reserves and run to gold. Also, Peter Schiff, an economist and known gold bug, has predicted the coming of a gold bull market, stating that gold still has legs to keep growing and that this will cause capitulations for Wall Street investors.