Randgold Resources Share Discussion Threads

[christh] 16/11/2017 13:50

Gold price steady, investors weigh US rate moves against fiscal outlook

New York (Nov 16) Gold prices were steady on Thursday as investors weighed the impact of an expected rise U.S. interest rates against uncertainty about the direction of U.S. fiscal policy.

Gold is highly exposed to interest rates and returns on other assets, as rising rates lift the opportunity cost of holding non-yielding bullion.

Spot gold was flat at $1,278.10 per ounce at 1100 GMT, after touching a 3-1/2-week high of $1,289.09 on Wednesday.
US gold futures for December delivery were also barely changed at $1,278.

Gold has traded in a tight range of about $24 in November. Tom Kendall, ICBC Standard Bank precious metals strategist,
said gold was stuck in a range with the prospect of a rise in U.S. interest rates exerting pressure, while uncertainty about the direction of U.S. fiscal policy offered support.

"The two are kind of pushing and pulling on global yields and on the gold price," he said.
Traders see a 96.7 percent chance the U.S Federal Reserve
will raise rates at its Dec. 13 meeting, CME Group's FedWatch
showed. It would be the Fed's third rate rise this year.
At the same time, the U.S. Senate and House are considering
tax cuts proposed by President Donald Trump's administration.

[christh] 16/11/2017 13:50

Price of Gold & Precious Metals Charts


Last updated: Nov 16, 2017 8:45 ET

$1279.39 2.98 (0.23%)

High: 1279.99
Low: 1275.71

[christh] 16/11/2017 10:45

This is now a Buying opportunity as gold remains strong and robust investment.
Rangold is undervalued, coming down from £81 and tipped by many brokers to £90.

Date.............Broker.........Recommendation...New target price......Notes
06 Nov 17....JP Morgan Cazenove....Overweight.....8300.00............Reiterates
24 Oct 17....Barclays Capital......Overweight.....8000.00............Reiterates
19 Oct 17....Jefferies International...Buy........9000.00............Reiterates
25 Sep 17....Numis.....................Buy........9000.00............Retains
05 Sep 17....JP Morgan Cazenove.....Overweight....8400.00............Retains
22 Aug 17....HSBC....................Hold.........7800.00............Retains

[christh] 16/11/2017 10:13

Gold Prices Can Still Surprise With A 'Strong Finish' In 2017

Anna Golubova Wednesday November 15, 2017 19:00 Kitco News

(Kitco News) - Gold bears beware, prices could be setting themselves up for a “strong finish” this year, says one analyst.

“I remain constructive on GLD in the near term, expecting a strong finish to the year,” Boris Mikanikrezai, precious metals analyst at FastMarkets, wrote in a Seeking Alpha post on Wednesday.

When forming his analysis, Mikanikrezai looked at net speculative positions on the Comex and exchange-traded fund (ETF) holdings.

“Gold witnesses some upward pressure as the macro backdrop turns increasingly friendly for the PM complex,” he said.

The most recent CFTC data showed that money managers raised their net long position for the first time in eight weeks between October 31-November 7, while spot gold prices advanced 0.6% from $1,270 per ounce to $1,278, the strategist pointed out.

“The net long fund position - at 483.96 tonnes as of November 7 – rose 13.46 tonnes or 3% from the previous week (w/w). This was driven exclusively by long accumulation (+14.54 tonnes w/w) and marginally offset by some short rebuilding (+1.09 tonnes w/w),” he said.

The other half of Mikanikrezai’s analysis revealed that ETF investors were not jumping at the opportunity to increase their gold holdings between November 3-10, “in spite of friendlier macro forces.”

According to the strategist, “the GLD market remains in a ‘buy on the dips’ mode.”

GLD is the ticker symbol for the world’s largest gold-backed ETF, SPDR Gold Shares, which is traded on the New York Stock Exchange.

On Wednesday, gold prices gave up all overnight gains as the U.S. dollar index rose from its daily lows.

“A batch of important U.S. economic reports released earlier today provided a brief lift to precious metals prices. However, the greenback’s bearish influence proved too strong on this day,” said Jim Wyckoff, Kitco’s senior technical analyst.

December Comex gold was last at $1,279.30, up 0.13% on the day. Meanwhile, SPDR GLD last stood at around $121.41, down 0.12% on the day.
By Anna Golubova

For Kitco News

[christh] 16/11/2017 10:07

Gold Prices Hit 4-Week Dollar High as Stocks Fall from 'Irrational Exuberance'
Wednesday, 11/15/2017 13:55

GOLD PRICES jumped to 4-week highs against a weakening US Dollar in London trade Wednesday lunchtime, reaching $1288 per ounce as world stock markets followed Wall Street lower for the 5th session running.

New data today showed US inflation holding at the Federal Reserve's 2.0% annual target in October, while retail sales rose 4.6% from the same month last year.

Silver and platinum both reached 1-week highs as the Dollar fell to worse than $1.1850 against the single Eurozone currency, its weakest level in a month.

Tuesday in contrast had seen another heavy selling order in Comex gold futures, notes Bloomberg, with "erratic volume" in the derivatives market "going from an oddity to a more regular feature of trading."

"Rumours on the market [say] the gold selling may have to do with Venezuela’s national bankruptcy," reports today's daily commodities note from German financial services group Commerzbank, after the crisis-hit Latin American state allowed a swap deal to lapse last month with former bullion bank Deutsche Bank.

"Possibly this gold has now been sold after the loans were not serviced," says Commerzbank.

A record-high balance of investment managers have meantime been taking " more risk than usual" according to the latest survey from Bank of America Merrill Lynch.

Cash holdings amongst managers running $610 billion of assets fell this month to a 4-year low at 4.4%, the survey found.

Yet at the same time, a record 48% of the survey's respondents said they believe equity markets are currently "over valued".

That disconnect between fund managers' views and behavior points to "irrational exuberance" says BAML's report, using a phrase coined by ex-Federal Reserve chairman Alan Greenspan as the Tech Stock Bubble accelerated in the late 1990s.

A separate survey from data and technical analysis service Investors Intelligence put the balance of bullish over bearish investors at the highest level since just before the 1987 'Black Monday' crash at the start of this month.

"The recent weakness in US high-yield bond prices [has been] diverging notably from stock prices [setting] new highs," says the latest Global Strategy Weekly from French investment bank Societe Generale strategist Albert Edwards.

Within the stockmarket itself, Edwards adds, "there has been a clear divergence in [2017] performance between companies with highly leveraged (bad) balance sheets and those [without]," pointing to a chart from his colleague Andrew Lapthorne.

"Is this a straw in the wind that a bear market is arriving far sooner than most investors had anticipated?"

[christh] 16/11/2017 09:33

Gold price rises for third day ahead of U.S. inflation data
Last updated: Nov 16, 2017 4:45 ET

1278.01 1.61 (0.13%)

High: 1278.63

Low: 1275.71

[christh] 16/11/2017 08:39

Gold $1278 1.6 (0.13%) up and upwards

High: 1278.12
Low: 1275.71


Still on track to $1290

Rangold could jump to £71.40 today as gold demand is unrelented.

[christh] 15/11/2017 08:48

Gold now $1284 2.83 (0.22%)

High: 1284.2

Low: 1280.68

Gold should head to $1290

Expect Randgold to get to £74 so keep an eye on the gold price

[action] 14/11/2017 12:54

Gold down but RRS up ..

[christh] 13/11/2017 17:57

Gold is rising and as the momentum is robust will hit $1285 soon

$1279.1 3.29 (0.26%)

High: 1279.44
Low: 1275.8

Its high time for Randgold to run to £74.
So keep an eye on the gold price and mostly hold your nerve because of the volatility

[boraki] 13/11/2017 16:39

Took a loss on this for the 5th time.

Just do not like it one inch.

Good luck, good bye

[christh] 13/11/2017 15:02

Todays Summary
-----------------------
The Dow Future has slid 76 points to 23306.
The US Dollar Index edged lower 0.047 points to 94.485.
Gold has advanced 2.930 dollars to 1278.660. Silver has slid 0.0090 dollars to 16.8965.
The Dow Industrials declined 39.73 points, at 23422.21, while the S&P 500 eased 2.32 points, last seen at 2582.30.
The Nasdaq Composite moved higher by 0.51 points to 6750.56. Streaming charts of these markets are available 24/7 at MarketClub

[terry barnett] 13/11/2017 14:16

Anticipated rate rise in US depressing gold and miners.

[christh] 13/11/2017 14:05

PRECIOUS METALS
December gold was higher overnight while extending the trading range off the
past 6 weeks.
Stochastics and the RSI are neutral signaling that sideways trading is possible near-term.

If December renews the rally off November's low, the 50-day moving average crossing at 1295.10 is the next upside target.
If December renews the decline off October's high, August's low crossing at 1257.10 is the next downside target.

First resistance is the 50-day moving average crossing at 1295.10.
Second resistance is October's high crossing at 1308.40.

First support is October's low crossing at 1262.80.
Second support is August's low crossing at 1257.10.

Metals Snapshot
Symbol Last Change %
GOLD Dec 2017 1279.3 +5.1 +0.40%
SPDR GOLD SHARES 121.150 -0.980 -0.81%


Gold now is trading higher at $1277.46 1.66 (0.13%)
High: 1279.43
Low: 1275.8

Therefore a Buy signal is favourable as Gold pushes up to $1295.
Rangold looks for a good recovery to £74 short term

[action] 13/11/2017 13:29

Only thing int rate hike by FOMC NEXT MONTH..

[boraki] 13/11/2017 13:26

If it gets near £70 I will be out.

The markets are holding up a lot better than I thought, so cannot see them giving me I.e. RRS a quick jolt up in the next 3 months.

Got to go see you later

[action] 13/11/2017 13:22

You will get chance to get out b4 next update. Untill than hang on

[boraki] 13/11/2017 13:20

I'm close, trust me on that one!!!

[action] 13/11/2017 13:19

BorakiDo not throw the towel in just yet.

[boraki] 13/11/2017 12:59

You are very optimistic.

I hope you are right.

Good luck all long term holders

[christh] 13/11/2017 12:22

just be patient

Gold is pushing higher and hit $1279 earlier on
It will hit £70 today but keep calm until then

[action] 13/11/2017 11:50

BorakiIt is true. It is day trading stock as multiples r high and trading at least two times the book value

[boraki] 13/11/2017 11:42

Every time I invest in this share I loose money.

nightmare

[christh] 13/11/2017 09:52

gold going higher to $1280-$1282


Last updated: Nov 13, 2017 4:50 ET

$1278 2.19 (0.17%)
High: 1278.4
Low: 1275.8

Rangold could close above £70.10 today as gold price rises