Randgold Resources Share Discussion Threads

[philanderer] 14/12/2016 15:07

JP Morgan retains 'overweight' .. cuts target from 8300p to 8000p

[philanderer] 14/12/2016 15:02

WASHINGTON (Alliance News) - Gold futures nudged higher Wednesday morning amid speculation the Federal Reserve will signal only gradual interest rate hikes in 2017.

The Fed is widely expected to offer a modest quarter point rate hike today, citing improvements in the labor market and signs of inflation.

Policy makers will likely take a cautious approach to further tightening, given political and economic uncertainties.

[bonio10000] 14/12/2016 14:30

PP - i think both.

Rate hikes will kill the housing market and increase the USD so making exports less, imports more and weaken the balance of trade.

[professor pettigrew] 14/12/2016 14:28

Now, the question is:- Is gold starting to rise in the faint expectation that those figures provided by bonio mean the fed WON'T hike, or is it rising because it knows a hike is coming and it will be just 25bps but the weak figures may give an indication that rate hikes from here on in will be as rare as hen's teeth?

Ideally here gold will rise also after hours on Comex and in the Far East. That would give an opening indication here around £60 in the morning.

[professor pettigrew] 14/12/2016 14:25

As I earlier suspected, gold could have a decent day or two after the fed decision.

It's mere bagatelle as most of the world is expecting a rise in any case.

[linton5] 14/12/2016 14:19

Keep up the good work bonio10000

[bonio10000] 14/12/2016 14:18

Horrible industrial production figures.

So week production and consumer spend and Dow is going from 18k to 20k?

Makes sense.

[bonio10000] 14/12/2016 13:55

Another good link - as a weaker dollar index should be good for gold.

not sure poor economic news is going to help the dollar index.

[bonio10000] 14/12/2016 13:36

Next set of figures 2.15 - certainly a bumper day.

[bonio10000] 14/12/2016 13:32

Some inflation but very weak consumer figures - mixed bag.

Not sure hiking into declining consumer spend in a service economy is great though.

[bonio10000] 14/12/2016 12:53

hxxp://www.tradingeconomics.com/united-states/calendar

Big day guys.

[professor pettigrew] 14/12/2016 12:26

Believe it was phil. At an extraction cost of circa $850 (and falling) plus the amount they mine.

As I say, it's the gearing effect. Whither $1500?

[philanderer] 14/12/2016 12:23

I think it was JP Morgan who said that RRS would be a cash machine with gold @ $1200.

[bonio10000] 14/12/2016 12:03

US mortgage applications down another 4% this week.

How are those rising yields doing?

Raise them Janet !!!

[professor pettigrew] 14/12/2016 11:13

Sadly bonio, the fed is as bent as Comex. And is implicated in the rigging of the gold price.

All central bankers are culpable.

[bonio10000] 14/12/2016 11:11

Audit the FED !!!!

[professor pettigrew] 14/12/2016 11:04

Of course, you have to accept it the other way round on any downside. The gearing here is quite stupendous.

[professor pettigrew] 14/12/2016 11:04

blueball - if you extrapolate back the price action here with the gold price, it would put RRS around £100 or so. Possibly more.

[professor pettigrew] 14/12/2016 11:02

Once the fed decision is announced, and if it is the expected 25bp, gold could well move quite a bit higher. It's the old buy on the rumour sell on the fact line, but in reverse.

[blueball] 14/12/2016 11:01

Gold at $1500 oz in 2017 would do wonders for RRS.

[professor pettigrew] 14/12/2016 10:55

Put it this way giles - the stock markets have done spectacularly well since Trump was elected.

There is a massive amount of profit that could be taken off the table. Only a few things would have to start derailing for this to happen. Then where would it go?

GOLD.

[professor pettigrew] 14/12/2016 10:49

Why? Are you on a space hopper?

[blueball] 14/12/2016 10:44

Bouncing all over the place at the moment which is understandable.