There was a gold cross on Wednesday for CEY (20 day EMA moved up through rising 60 day simple moving average). This is regarded as a buy signal by some TA. So far signal has proved correct up 0.87% yesterday and up about 3% today.
Divi is paid out on Friday and it may be quite awhile before the direction of just about everything is determined.
There is a lot of noise in the markets. A time to hold gold is possibly when people eat less in restaurants, buy less retail products, stop buying new cars in numbers. I personally feel that Carney has managed to deliver the impact of a rate hike without doing one. The USA rate hikes are certainly creating their own impacts on credit defaults. Interesting times are ahead.
Good health and financial success as we start a new financial year.
Extract (excerpt) - "hedge fund manager Graticule Asset Management Asia (GAMA), already warned last year that China launching a yuan-denominated oil futures contract will shock those investors who have not been paying attention."
Last week I'd moved slightly into profit. I'm still holding on for the dividend.
Very disappointed to see this fall back again so quickly. I'm now down over 5%. Odd how it seems to fall fast but rise back slowly. Not sure what to read into that.
I did notice one day this week the number of traded shares more than doubled. Usually around 8 million shares are traded per day but on Tuesday (I think it was Tuesday) more than 18 million were traded.
Perhaps something is going on in the background with the big holders.
This share has a dividend yield of plus 5%. The USD is now set up to rally. Sterling has peaked out and set to fall. Gold value has held up and company growth this year is around 8%. I am not sure how cheap they want it. I sold most of my position for 19p profit but kept around 16% for divi. If this keeps falling back it looks hugely attractive to get more CEY. Fortunately I can rebuild it up.
I have blocked off 30% of my portfolio on Hummingbird Resources which I am leaving as hold. The PE rate on that one is just 3.
Overall precious miners are unloved by major funds. They have massively dropped PE rates for the entire sector despite significant upwards forward earnings.
Bad timing (again) on my buy. The dividend could put me in profit, if we don't fall much further, but it's a long way off. I just hope I don't have to hold on for 5 months to see a profit, like last time.
It's a good bet that we'll be north of 160 at some point this year. I'll just have to hold on.
I don't see gold as the prime mover on the SP, that always causes a response but I've never seen a direct correlation and I constantly watch both.
I was going to sell as i feel gold could pullback a bit but have decided to hang on and hold as the dividend is appealing. However it could still fall back far more than the dividends worth if it goes back to 130s
Boats come and go shugg1e, the thing is not to panic. You might be correct though, on this occasion, time will tell.
I do note we've had a tendency towards moving up and down between 160p and approximately 165p recently, treading water until the market makes up its mind maybe.
We may break out of that trend either up or down. I tend towards down at the moment but that could change in the next 5 minutes when I look at the share price again.
The way the market looks at things the results weren't good. Costs are rising and profits falling and no one wants to buy the product. I know that's an over exaggeration but markets can be brutal. If we look at the PoG chart in sterling then it's been falling since January 12th. Has gold really been rising. Which currency should we be looking at, if any. There are so many ways to look at things.
I'm not adverse to buying in at a higher price than I sold. Depends if I think CEY is going to head upwards or stagnate, the dividend seems to be the only near term driver, at least for me. If I buy 30,000 shares I could earn over two grand in the next dividend.
I look upon holding cash as my insurance against possible uncertainty but I'd really like to get that dividend.
Jefferies basically have 156p on 11 cents earnings but that has to be on a gold price of just 1220 average for the entire year or they do not believe management's 770 AISC. I believe the AISC is correct as Egypt's currency is at best equal to dollar performance and usually a lot worse.
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.