Randgold Resources Share Discussion Threads

[gilesgraves] 07/12/2016 08:52

Unlikely to be "upside soon" in my opinion. Maybe late December.. Gold has resistance at 1200 and is likely to fall down to 1100 or even 1000 before then. There is a very accurate forecaster who does a video every day on fx empire. He says there are small windows of trading opportunity in the short term. i.e. every small rally is a selling opportunity. Other than that the shortish term trend for gold is down until the FED make their rate decision. I am then bullish on Randgold, very bullish going through 2017.

[professor pettigrew] 07/12/2016 08:26

Gold seems to be forming a wedge, trading between $1160 and $1170.

Breakout to the upside soon.

[blueball] 07/12/2016 07:47

I'm expecting another good rise here today.

[professor pettigrew] 06/12/2016 17:48

Well, if anyone had to choose between £100,000 of paper or £100,000 of gold which would you go for?

[christh] 06/12/2016 17:17

money or currency has not standard value and we have devaluations, inflation,debt etc. causing dramatic falls.
Gold has remained a standard deflationary tool and will remain as such as a measure of country's wealth - Ask Mr Brown who sold it so cheaply.
The Chinese and Indian governments have been accumulating gold for a few years now,
have you ever wondered why?

Only gold brings stability to any economy as it is the strength that a country has
in the financial world being a secure and stable asset.

[bonio10000] 06/12/2016 17:16

Paper money would be fine if there was a finite amount.

The fact the FED has overseen a 98% loss in the dollar value, negative real interest rates and debt to GDP over 100% shows that man is incapable of staying out of it.

That is why gold is useful - it is finite.

[dstorey1] 06/12/2016 16:56

Money is the means by which financial transactions are concluded but wholly incorrect to state that money has no value unless prefixed with fiat. Money in it's original and in it's truest form was a store of value hence the use of gold and silver coinage. Only with the advent of fiat money has it become valueless, hence it's ability to be created out of thin air.

[professor pettigrew] 06/12/2016 16:35

Well, that is your point of view hpcg.

Send that post to Jim Rickards and see what he thinks.

So, according to you, the merry-go-round continues forever then? The world just prints more and more paper and it "keeps" it's value?

I don't think so. And don't rule out a return to some sort of gold standard.

You haven't mentioned the possible $200 trillion of world-wide government debt either.

The whole thing with fiat currencies is a charade, a circus and over the years the value of them declines every year.

The only thing that holds value is gold.

[hpcg] 06/12/2016 16:27

Prof - that isn't how money works. Money is an exchange mechanism, it doesn't have value in its own right. If I grow a crop, or increase a herd of sheep, or cut a tree into planks I have created wealth. I expended my human brain or brawn to do that. I'd like to exchange it for something else. All I need is a mechanism which gives me the mutually fair equivalent of some alternative. Sensibly we can create some paper tokens for each of those people so that they can exchange with each other. As production increases we need to keep creating money, otherwise we get deflation - too many goods and not enough money. If we create too many paper tokens we get inflation as too much money and not enough goods. Productivity increases are naturally deflationary; build a water mill to grind corn and human sweat has declined whilst flour has increased. If money supply does not match the production of goods an services in either direction the economy is hampered. This is why the gold standard was doomed and will never be returned to - it rewards gold prospecting and hoarding and not real production. Shell based tokens have failed for the opposite reason. A controlled printing press where the token itself has no value is the most effective system.

One of the causes of the recent deflation has been the transfer of wealth from the many to the few. Billionaires just don't have enough needs to recirculate their spending.

[chinese investor] 06/12/2016 16:00

"Michaels",
Ever since I said I was going to have "a pint" with him he's kept his gob shut....
....so he's not the complete amoeba we all thought he was.

[philanderer] 06/12/2016 15:41

Back in here today for the first time in ages.. luck to all :-)

[adrian noble] 06/12/2016 15:32

Looking good

[michaelsadvfn] 06/12/2016 15:19

Professor Pettigrew 6 Dec '16 - 11:27 - 6398 of 6402 0 0

In all honesty, how can it be right that money can be conjured up out of thin air?

You tell us.... you conjured up $237,600 of the stuff to buy 200oz of the 'physical'.

Just stating like.

[professor pettigrew] 06/12/2016 15:18

If there is anybody still out there that doubts that not only is the gold market rigged, but the price is ready to start moving nicely up, then read and digest every word of the attached article.

Then, get yer buying boots on.

[professor pettigrew] 06/12/2016 13:40

I've been monitoring the movements in the gold price today and the movement in RRS.

Taking it since 10am this morning, at 5 minute intervals, if the gold price were to go over $1200 again it would equate to around £63.50 here.

Just shows you how geared RRS are to the bullion price.

[blueball] 06/12/2016 12:59

Perhaps not today £58 today and £60 by Friday.

[professor pettigrew] 06/12/2016 12:18

I doubt it today blueball!

End of week maybe?

[blueball] 06/12/2016 12:06

Buyers return today will it rise to £60.

[professor pettigrew] 06/12/2016 11:27

In all honesty, how can it be right that money can be conjured up out of thin air?

Just take a £10 note, cross through the "10" and write "50" there.

That's all governments and central banks are doing.

It's pure fantasy monopoly toilet paper. Unless it's backed and guaranteed by something you wouldn't even want to use it for that.

[bonio10000] 06/12/2016 10:40

Record govt and personal debts?

Rate rises should be great for the economy then.

Given the 0% bonds on the FED's balance sheet - what rate rises are needed for the losses on those to make the FED insolvent?

1%?

Bullish.

[professor pettigrew] 06/12/2016 10:32

In all seriousness though hpcg, you make a good point regarding rates, but in a link I posted last night, there was comment (and history) of how gold went markedly higher when rates were going up, because inflation was rising faster.

So, in essence it's not the level of interest rates but the real level of interest rates. I don't think the Fed will raise them as much as they are making out, and if central banks allow more inflation into the system that can only be good for gold.

In any case what other way is there of getting rid of hundreds of trillions of dollars of debt worldwide?