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hedgehogg,
I think Bitcoin is more worthy of the $1Trillion+ market cap than Tesla !
Bitcoin market cap $1.273Trillion
Gold Silver and Plat market cap $13.237 Trillion
Gold market cap $11.598Trillion
Silver market cap $1.381Trillion
Platinum market cap $0.258Trillion
Could you make payments with the dot com boom? Many dot com boom companies are worth an absolute fortune now
I have my own comparison of Bitcoin to the Dot.com boom :-) Im not saying its worthless, but I think its well beyond its true value. Time, and a real market correction, will tell.
Thankyou tibbles, Bond y Rebess
We have a problem (re: comparison of bitcoin to gold)
Hargreaves Lansdown: "The recent surge in the crypto asset partly seems to have been caused by investors piling in, seeing it as a hedge against inflation."
JP Morgan: "We believe the perception of bitcoin as a better inflation hedge than gold is the main reason for the current upswing."
https://uk.finance.yahoo.com/news/why-price-bitcoin-pushing-highs-153045833.html
Cowichan . I think the board are appearing to be a safe pair of hands to get through the current turmoil, and that is to their credit . I suppose the issue I have with them is what I perceive to be a lack of ambitious intent going forward .
With regard to your comments on BW, am I right in thinking that CEY still have time to act ?
Yes I agree ..what makes it even more undervalued is the $300 million in the bank ..so if the market price is paid , there will be a nice $300 million tucked away in the bank , to start you off with , once you have bought.
Paul M. Yes what you are saying does make sense due to the phenomenon of ' pound cost averaging '
CaneToad...thanks ..linking the gold price to FUTURE expectations of inflation makes sense ..
Sotolo...thanks also...you have taken this one stage further and linked the future price of gold to 'real ' interest rates, and produced strong empiracle evidence ( minus 0.8 correlation ) in support of that
This would suggest gold rising further in the weeks / months ahead , based on future inflation and interest rates forecasts ...have I got that right ?
Well the next big thig in precious metals has been a nounced by the CEO of the ocmpany which owns it. Funny about that, but thats the mining business. Casinos have rules about the game, but the market's regulators can be missing in action....
"A veteran analyst says Chalice Mining has made the best discovery of platinum group elements ever seen, after the first official estimate of the six metals in Western Australia’s Gonneville deposit earned the pre-revenue explorer a $3 billion market capitalisation." and how much money does the mug investor make? A: A little less.
PNG is at the old game, of changing the rules during the investment cycle, and head towards a tad more nationalisation, but who wold blame them?
The New Generations Gold Conferece in Perth celibrates some new exciting marginal discoveries that hardly justifies the $billions of money invested in exploration.
Suplly remains <<<< demand
good luck punters
the gnome
Haha- of course no one knows that one :-).
I'm not increasing my position, as my most highest risk asset, seconded by gold stocks (less risk). I only back the main cryptos, I certainly see 100k in the near future. I am also prepared for it to drop of a cliff, as got in early- although this is less likely day by day. I recall arguments with people when it was 3k, "couldn't possibly double from here, way to high now" etc etc... I've posted the reasons before why I continue to hold cryptos, and this remain, and get stronger as the days pass. The big drop in XRP for example, the biggest crash on my portfolio, soon bounced, despite the dire news. If you believe in the tech, understand it (it's not that hard), then take your choice. I heard an investment chap only yesterday stating that also crypto mining is using up a lot of energy, they were already in the throes of tapping into overflows of sustainable energy produced in Africa. Like all electrical devices, computers don't need fossil fuels.
SteveJones999,
Whee do you see Bitcoin going from here $100k , $200k ?
I love it when Keene and Ferro talk about the footie on Bloomberg lol
Interesting Canetoad and by crypto continues to fly (queue nay sayers... tulip, crash, ponzi, never going to gain traction...). Over 3 trillion market cap and climbing...
Remain hopeful for gold and CEY, couple of regular data points due this week from US (google and they're there and the timings).
Regarding Inflation / Gold.
Bloomberg is saying that the recent rise in Bitcoin is due to the 'search for investments to hedge risks from inflation'...
https://www.bloomberg.com/news/articles/2021-11-08/bitcoin-climbs-to-record-high-exceeding-october-peak
I'm not feeling incredibly bullish on gold yet. It seems to be having trouble even getting through the $1,830 resistance.
Yes. it is bl--dy annoying. But I try to look at it like this for now. If we make a profit and get a good dividend, then so long as you dont need the money now, its a case of being patient. (How long have we been patient???)
Then, if you you have been reinvesting dividends,and the price does eventually reach the heights we previously attained, we will be better off than if we had never slumped.
I hope that makes some sort of sense?
I occasionally wonder how annoyed some LTHs are with the fall in value on their investments. There was a time, after the west wall fiasco, which left the SP wallowing ~£1.33. It seemed an acceptable blip. Not so now with a prolonged stay in the 90s.
Observing daily values of £000s in paper losses must be frustrating. For myself getting back to >£1 can't come soon enough.
Yes Cane gold is still range bound and gold could break out either way, as you say if down would be a bloodbath for gold mining shares, but the converse also applies. I certainly have no idea which way it will go and I am. It sure anyone has, tho historically as said lower real interest rate should pull it up, but history didn’t have bitcoin and qe together, rather it wa the opportunity cost of holding gold v bonds,
Last week's Diwali festival saw physical gold demand in India, the No.2 bullion consumer nation, jump sharply, with dealers charging a premium of up to $1.50 over official domestic prices – inclusive of the nation's 10.75% import and 3% sales levies – up from the previous week's premium of $0.50 per ounce.
"Retail demand during Dhanteras and Diwali was 25% more than the pre-pandemic level of 2019," said Amit Modak, chief executive officer at jeweller PN Gadgil and Sons.
https://www.bullionvault.com/gold-price-chart.do
I disagree with the idea that 'GOLD MUST CATCH UP SOON'
It's hardly booming, is it.... Bitcoin is reaching new highs, because investor funds are flowing into it, while gold ETFs are suffering huge outflows. It's just supply-and-demand. I hope the situation changes, but this does not look bullish to me and if gold is not bullish, there is no chance of CEY rising significantly. If gold were to dip significantly, there could be a bloodbath for gold equities.
Apologies earnings in relation to HOC
The earnings report last month was very good with expectations of increased production. Political situation has also calmed down with the government recognising foreign investment is essential for their economy.
Having read quite a bit over in the US on the recent change of sentiment towards gold it is accepted that strong figures in the job market will allow the Fed to raise interest rates.
Also demand for gold in China and particularly India (Diwali) is putting pressure on prices.
Fwiw, price here is held back by an institution selling shares into any rises in the PoG and it will only be a matter of time before CEY catches up with it’s peers. As always patience is the toughest investment to make.
On another note for those who say it is just the PM price, and these miners of similar size mover more or les together, 20 months ago Hoc share price was 20% below Cey, now it is 66% higher, despite having had bad production higher costs and lousy politics. I follow the difference which is back out to Hoc 60p above Cey and should go back to the high of this difference ove 100p before Cey hopefully gets its act together and catches up as should be a great company if they could just get a handle of those exorbitant costs, partly by getting output back towards 500k oz imho
Yes Auson but Cey Hoc etc don’t all move together always, especially now; I think Hoc was unfairly undervalued with the others as profits will not fall as much as Cey, and the market seems to have realised this with Hoc outperforming Cey, up 20% over the month but Cey has stayed flat, while gold has risen from 1750. Therefore they don’t just move in tandem to gold but also on what people think of future profits so how the actual companies are doing. Horgan remains to prove himself which is why we keenly await the final quarter and the annuals. Hopefully the market has punished Cey sufficiently leaving it flat as gold rises, that it will begin to rise as/if gold goes further. I moved a chunk to Hoc and now hold 50% more Hoc than Cey as I thought a better play currently having been over penalised. I still expect Hoc to rise faster if PM’s do despite their hefty silver hedge imho. Conclusion Cey not just affected by price of gold but costs rising faster than rivals and ounces down more imho. This needs to change too!