Although shallow drilling, CNB looks to have a much more narrow gold vein and with miniscule g/t grades along their strikes, compare it to say DEG's vein strikes.
Vermicelli rice noodle vs. Extra large jumbo wax crayon side by side.
Printable View
I agree most likely as they will look to raise some capital soon with only 1.8mill end of March prob 11c etc... insto's know this and are capping the price so they can get a better deal then add in the same insto's buying pressure and Gold production will see the SP well over 20c... seen it all before ....
POG at an all time high as the US$ index slides down. The index has dropped so quickly that there may well be a rally which will affect the rise in gold temporarily?
I am considering using ASX.GOLD to do a little gold trading.
Probably end up bailing at a loss:https://cdn1.i-scmp.com/sites/defaul...?itok=G2BNVEjA
image from South China Morning Post
Silver going vertical. Currently up 8% at 24.60.
Gold all time high $1940 oz atm.:)
USD Gold looking likely to break $2k this week imho
A volatile speculation. Just looking at historical figures 1980 hit a peak that was not seen again for 27 years. Although money printing in 2007/2008 put it on a tear. I am assuming money printing is the reason behind the recent rise. As has been mentioned in the media there is no limit to money printing so maybe the POG has support as long as the printing presses keep whirring.
Paul Krugman has our backs
https://www.marketwatch.com/story/th...?mod=home-page
Each crisis requires an even larger monetary response.
Goldman Sachs lifts price target to $US 2,300
https://finance.yahoo.com/news/goldm...142054436.html
Targets mean nothing to me but im with the trend but starting to think about taking some gold profits soon.
"Gold the currency of last resort"
Too true, I don't know if anyone knows for sure. Historically it was probably yesterday when I caught gold fever and got wrapped up in the big rise and went out further on the risk curve.
My naive and uneducated basis for gold going higher is that central banks are not proposing anything other than lower (even negative) interest rates and money printing (there is no limit to money printing - Jerome Powell).
Governments are spending up large. I think in the USA some are saying that deficits don't matter any more and it doesn't look as though Japan or the US govts. have any intention of paying back their borrowings. They "have to have inflation" to take care of their debts.
How it ends I am unsure as current economic thinking and monetary policy are at historic extremes. It seems like a ponzi scheme that requires more and more printing and lower and lower rates every time there is a crisis (a trend since the 1980s) with no will by voters or anyone in power to change course. So I am picking that gold prices might get extreme as well, as long as central banks keep printing money and suppressing interest rates(markets should decide this price imo) and continue to hold gold. Why central banks continue to hold gold I am unsure but it probably helps to keep faith in currencies somehow.
On the other hand it could be an increase in uneducated speculators like myself pushing up the price and they will drop it like a hot potatoe as soon as it goes out of fashion.
Those smack downs over the last couple of days...is that massive sell offs for profit takers or "suppression" to hide something...*reaches for tin-foil hat*
The day after posting this I got an email from Betashares pointing out their gold, currency hedged, ticker:'QAU' and gold miners, currency hedged, ticker:'MNRS' offerings.
Either Betashares read this forum and know who I really am or it is just one of those co-incidences that seem to happen more often than not, as per Terry Pratchett's "1 in 1,000,000 longshots work out 9 times in 10".
Anyways I bought some MNRS on the back of all that research, have a little profit already and will watch the price action closely like a sleeping leopard.
It will be interesting to see how the gold speculating goes compared to the crypto, tech-specs and proper investments in shares and even term deposits.