casabanker
20 Mar 2017
Re: Gold and silver week 20th March Hello tony,The gaps left by FRES is probably symptomatic of the increased volatility. Major indexes are trending up still despite astronomic valuations in US. They cannot hide the continual underlying fear of a sudden correction. I don't think I have witnessed so much bad diplomatic speech between countries in my lifetime. This coupled with the obvious build up of tensions and armaments leaves me feeling squeamish.Casa.
tornadotony
20 Mar 2017
Peso flirting below 19 Last read was 19.07 but has now appreciated a further 2.8%. Fresnillo costs are going up.
tornadotony
19 Mar 2017
Gold and silver week 20th March 200,000 ounces of gold pulled out of Comex after rate hike and 5 tonnes of gold leave GLD ETFs over Thursday and Friday. A lot of silver also pulled out of Comex. Suggests a top in gold and silver and see a retreat in the metals. Dollar heavily oversold and may bounce up. Miners could see a modest retreat. Bullish sentiment is very high. So it will be interesting to see what wins out.Fresnillo chart is still a mess and the market maker has done little to sort it out and it is now starting to look like an AIM stock. This is extremely rare for this share in the FTSE 100. Leaving gaps for no reason behind the SP position is not a good position for those going long and wanting to hold.
tornadotony
17 Mar 2017
Fresnillo gaps 1939-1914 at the peak last year. Often get small gaps at the peak and at a major bottom. 1360-1376 as we rebounded after 1294 low.1453-1473 created in last two days. Fresnillo has a good record of back filling gaps as a FTSE 100 listing.
tornadotony
17 Mar 2017
Leaving lots of gaps behind Does not bode well for later on in the coming weeks. Other precious miners are closing big gaps this one is just not doing it. This is an extremely messy chart with gaps.
casabanker
13 Mar 2017
Re: Precious metals Good evening, Rhigos,I didn't have a good experience with CEY. I sold out for over 100 but it incurred a loss. My entry price was around 160. I re-entered just before the ex-div date so missed out on the rise. Nothing to be proud of there, lol. Conversely, I bought GCL for under 21 so I have no problem waiting currently. You are right that the wait could well be a long one but, atm, demand for nuclear power is on the increase worldwide. Casa.
Rhigos
13 Mar 2017
Re: Precious metals casabanker,I too hold a few precious metal miners for defensive reasons including FRES and CEY. CEY performance the last 2 years has been particularly pleasing, up over 200% and a good dividend on top.I also have GCL shares, 1st bought in Feb 2011 at 131.49p before severe Japanese tsunami, disaster all round. Averaged down with second purchase on 6 Aug 2013 at 28.65p. SP now around 26p so terrible timing and going to be a very long term investment.
casabanker
13 Mar 2017
Re: Precious metals Thanks, KALAN, I hadn't considered buying any platinum miners due to lack of familiarity and which are the best producers and stable. I think the oil price will fall some more even though the OPEC cutbacks largely seem to be honoured. Any spike up will soon be wiped out by increased production from the frackers in the US. Many can still be profitable at a $40 dollar level. Silver falling back to $14 per ounce also looks unlikely. FRES will fall to between £8 - 9 if so. There is too much uncertainty and China is loading up with gold and silver again. I will continue to hold precious metals ETF's and miners for defensive reasons. I hold CEY and PAF as well as FRES. I also hold GCL. a uranium producer but the reason is more to do with the increase in demand for nuclear reactors. Once the Japanese stockpiles of uranium have been depleted. it will be in short supply or so the forecast goes. Regards, Casa.
KALAN
11 Mar 2017
Re: Precious metals Hi Casa - just been looking at the same thing - started with oil fall and reasons why and moved along into other commodities.Theses are my conclusions
a) Oill WTI could fall to $43 again but I think a strong rally is due at $47 - thinking of getting WTI 2x or 3x ETF if it gets there - only hold for a short period as these ETFs are complex.(b) Nobody knows if gold has bottomed and we are still in a bear market until a break out is confirmed - If gold is still falling it will go down to $1000 on next big move. If we are in the bottoming process it will retest $1080 before moving up and if it has already bottomed then support should kick in at $1050. All 3 are lower points than we are currently at. Holding no gold shares at the moment due to the above.(c) Silver would be a fantastic bargain at $14 but I will buy at $16 as I think gold has bottomed or is bottoming - just a feeling and therefore silver will not fall to $14 - anticipating buying FRES at £12 a share if silver goes to $16.(d) Platinum looks close to the bottom to me - I think we will see a slip down to $900 per ounce if gold goes to $1050 - it can't stay below $900 for very long IMO as Lonmin will go bust if it does and prices will surge. Preferred options Sylvannia platinum (currently 12p - target entry at 10p if platinum slips further) and Jubilee platinum - (target entry 5.2p or lower - currently 5.6p)Overall Casa I don't think you will be disappointed in your ETF purchase if you hold it for 6 months or more but expect short term gyrations.All IMO and probably utter b.......s.
casabanker
10 Mar 2017
Re: Precious metals Just out of interest, I have just bought another few units of investment in ETF physical platinum. The current price of just under $90 is very low. It has only been lower on two other occasions in 2009 and 2016 at around $80 since 2007 (ETF prices). Traditionally, platinum has been at a higher price than gold and is still regarded as such in the jewelry trade. The ETF gold price is just over $93. The feeling in the market is that the positions will be reversed again. That could, of course, mean that gold will go down quicker than platinum. Gold going down in price to any great degree, does not seem likely to me.Casa.
casabanker
10 Mar 2017
Precious metals Precious metals have trended down all week. yet there doesn't seem to be a "risk on" attitude by investors. We have also seen bond yields rising this year but the forecasted bond bubble burst has not happened. This suggests to me that investors are being ultra cautious and waiting for a decisive change. I think there is also an underlying forboding and fear of a sudden collapse. Perhaps it's what I read or the prunes working, lol.Whatever, precious metals is a good place to be at this time imo.Casa.
shugg1e
09 Mar 2017
Re: RSI(10) reading I dont know where your reading your RSi data from???? my system does not even have FRES oversold yet at 32
sasa43
09 Mar 2017
Re: Fresnillo 2014 to 2016 compared In revenue terms, FRES earns some 55% from gold / 45% from silver now but approx 50% from both in net terms, so good exposure to both metals, as you say, rhino.Silver tends to more volatile relative to the yellow metal, given it's a much smaller mkt and the AU / AG ratio stands at 70:1 right now. The recent 'high' here was 78, so AG still remains undervalued, relative to gold, despite having improved against it of late.The neutral point between them is 50, as you'll know, if you follow the ratio indicator at all...The latest results were very impressive with a chunky divd hike announced and a promising forecast of more to come. Surprised that some T/ P's are quite modest, given the upturn in inflationary forecasts and a plethora of uncertainties ahead, especially on the political front.Surely the supposed US rate increases are in the price now (and anyway even the Fed dare not tighten too much at this stage) so I'm thinking of adding to my holding, fwiw, even though I'm already a bit overweight in it - everything has its price, after all....GLA - sasa.
rhino666
09 Mar 2017
Re: Fresnillo 2014 to 2016 compared The beauty of owning this share is an allegiance to gold without the requirement to physically hold the metal. I know that is simplistic because Fresnillo is primarily a silver miner but the two metals tend to trend together. If you have confidence in these metals as an investment, have confidence in Fresnillo. A move in the price of gold has an exponential effect on FRES SP - I see this as being a ratio of around 1 : 2.Not such good news if you bought recently as I did at £14.50 as gold price currently trending downward along with silver, copper, etc.Remember the good old days of £18+ they will return in my opinion.
tornadotony
09 Mar 2017
RSI(10) reading Now matches the level it was on 31 May 2016 at 16.1 RSI (10). It has been lower on 24th and 25th November 2016. The longest they can hold it down is 8-10 trading days.
