Randgold Resources Share Discussion Threads

[overeager] 30/12/2016 09:29

Prof Pet, you need to factor in the $£ exchange rate- since the election the dollar has strengthened vs sterling.

I hold a very large holding in RRS and am sticking with them, although I would be the last person to try and tell others what to do.

Good luck.

[chinese investor] 30/12/2016 08:38

Good Start !

[essentialinvestor] 30/12/2016 08:19

I think this is a classic case of when sentiment is utterly dire there
is often some, at least some temporary upside.

[blueball] 30/12/2016 07:52

don't sell.

[professor pettigrew] 30/12/2016 01:19

For those who doubt, spot gold is currently $1163, almost $150 per oz below what it was around election time in the US.

And the RRS price then?

£58.25.

We've all had a good ride here since Trump was elected, but common sense dictates that you don't put on £6 per share with a $150 fall in the underlying commodity.

We could be very exposed here to a sharp fall in the short-term, especially if the gold price retraces $30-40.

My 3,000 shares remain as a long-term "hold", as I firmly believe we will see £100 here next year, but trading at the moment is a definite out.

I sense there will be some burnt fingers here very soon.

The gold price only has to re-trace back to around $1135 for this to go to sub £60 again.

Beware.

I will be castigated by the out and out bulls (and the scum trolls) but the correlation between the gold price and the stock price of RRS is way out of kilter now, and dramatically skewed to the downside.

10/90 risk of a major fall, unless gold pushes on to $1200.

Gold now struggling to hold $1160.

Be careful out there.

Goodnight all, catch you in the morning. Currently at 1.53am London time, spot gold $1161.27.

PP

[professor pettigrew] 30/12/2016 01:06

Some commentators on CNBC linking the US/Russia spat to the spike in gold prices and warning it is a "blip" and "unsustainable".

I think we could easily see £65 here tomorrow, but listening to the commentary, and the "cool it" rhetoric from Trump, could our hike be short-lived?

In fact, using the correlation between gold prices and the price for RRS, we are way overbought here at the moment.

[goldenshare888] 29/12/2016 21:46

$1159

Up wave continuation tomorrow and into JAN I reckon!!

:))

[philanderer] 29/12/2016 21:44

Blimey, I've totally lost track of who the 'good guys' are now :-D

[professor pettigrew] 29/12/2016 21:13

Just to remind everyone, especially newbies.

"Chinese Investor" is one of the scum trolls. Out to mislead and trash the thread.

Belongs six feet under in my book.

[chinese investor] 29/12/2016 21:12

Thanks phil.

[philanderer] 29/12/2016 21:11

RRS closing in the USA tonight @ 6465p

Gold $1158

[chinese investor] 29/12/2016 21:08

Soon !

Chinese Investor (RRS) 28 Dec '16 - 20:56
I now hold 8,150.
£100 soon !

[professor pettigrew] 29/12/2016 19:32

sr - re your post 7102 - personally I would sell out in the morning, but watch the gold price first. Currently up $13.77. Any slippage would see a slight fall here.

[professor pettigrew] 29/12/2016 19:30

sr - first thing to notice is the gearing that RRS has to the gold price.

Recently, it's got out of sync somewhat, so today's rise to above £64 is actually overdone, even given the gold price price. On my model should be about £63.25.

But gold is currently up (spot) around $14.75, so quite possible we could spike to £65 sometime in the morning.

RRS has a long history of overegging the pudding. Too much upside on a gold price hike, and too much downside on a gold price fall.

If you want to trade this, be very careful, and know what you are doing. You have to monitor the gold price by the minute to catch movements in the RRS price.

For many years, I have traded RRS and kept a long-term bank of shares. These have been mainly bought by using some of the profits from trading. Currently hold 3002 shares as a long-term bank, and trade in and out between 600-880 shares at a time.

At the time of writing, I think we are in for a fall back to the £63 level or maybe below £62, but gold is getting into a very volatile mode at the moment.

Keep tuned in and best of luck.

PP

[stevenrevell] 29/12/2016 19:24

Thanks I'm up 15.13% at mo do you think I should go if it's a good day Tomoz ta

[professor pettigrew] 29/12/2016 19:17

OK sr - apologies for being so abrupt.

We'll guide you here. Lots of opportunities, but don't get carried away.

Gold and RRS could fall heavily at any given moment.

The gold market is a dangerous place.

[stevenrevell] 29/12/2016 19:15

I'm new to this any advise is welcome ta

[professor pettigrew] 29/12/2016 18:48

The danger here is that the "riggers" will dump large amounts of paper contracts on the Comex overnight, and when you wake up you'll find $25 off the price and these back below £60.

On fundamentals RRS are only slightly overpriced, so on balance, no sweat.

Unless you know more than us Mr Revell?

[professor pettigrew] 29/12/2016 18:46

Is that why spot is up exactly $14?

How many novice amateurs are there on this board?

[stevenrevell] 29/12/2016 18:40

Gold tankin

[professor pettigrew] 29/12/2016 17:50

I also notice the RSI has gone from 39 to 61 in just two weeks.

That's a very steep rise, and usually unsustainable.