This stock market rally is not real, but gold sector is going to explode - The equities markets have been propped up artificially by liquidity | |
Anonymous Coward User ID: 72393946 United States 05/20/2020 03:04 PM Report Abusive Post Report Copyright Violation | |
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Anonymous Coward User ID: 72618767 United States 05/20/2020 03:09 PM Report Abusive Post Report Copyright Violation | Re: This stock market rally is not real, but gold sector is going to explode - The equities markets have been propped up artificially by liquidity "It is impossible to keep up with China gold demand." A Chinese guy who worked in the field for 45 years says: ----there are 375 million Chinese who want to buy gold Most of them cannot, as they live in the interior, far from the coastal cities with more access to gold, Even if they lived in the coastal cities, there is not enough gold to buy ---SGE (Shanghai Gold Exchange) has 10 million customers, with 10 million separate accounts ----just do the math and see there is not enough gold for them to buy It might be impossible to keep up with China's demand for gold [link to www.businessinsider.com (secure)] |
Anonymous Coward User ID: 72791417 United States 05/20/2020 03:14 PM Report Abusive Post Report Copyright Violation | Re: This stock market rally is not real, but gold sector is going to explode - The equities markets have been propped up artificially by liquidity Business insider has published a report entitled: Quoting: Anonymous Coward 72618767 "It is impossible to keep up with China gold demand." A Chinese guy who worked in the field for 45 years says: ----there are 375 million Chinese who want to buy gold Most of them cannot, as they live in the interior, far from the coastal cities with more access to gold, Even if they lived in the coastal cities, there is not enough gold to buy ---SGE (Shanghai Gold Exchange) has 10 million customers, with 10 million separate accounts ----just do the math and see there is not enough gold for them to buy It might be impossible to keep up with China's demand for gold [link to www.businessinsider.com (secure)] Production drop of nearly 1M gold ounces by top miners in Q1 [link to www.kitco.com (secure)] Senior gold miners listed on the NYSE gold production dropped a cummulative of 974,000 ounces in Q1 compared to production totals in Q4 2019. In a study of the top gold miners listed on the NYSE, nine out of ten miners recorded production drops in Q1. (AngloGold Ashanti did not release a Q4 total for 2019. Instead, the Q4 total was averaged from the company's six-month total. The other exception was Kinross Gold, which released production in gold equivalent ounces.) Cumulative fourth quarter production in 2019 for the largest gold miners listed on the NYSE was 6.834 million ounces. In Q1 of 2020, production dropped 15% to 5.859 million ounces. Miners were affected by governments enforcing closures on mines around the world, such as Mexico, South Africa and the province of Quebec in Canada. COVID-19 wasn't the only reason for the fall off. Production was also affected by seasonal changes, modified mine plans and variability in operations. |
Anonymous Coward User ID: 79054765 Australia 06/20/2020 08:02 PM Report Abusive Post Report Copyright Violation | Re: This stock market rally is not real, but gold sector is going to explode - The equities markets have been propped up artificially by liquidity Production drop of nearly 1M gold ounces by top miners in Q1 Quoting: Anonymous Coward 72791417 [link to www.kitco.com (secure)] Senior gold miners listed on the NYSE gold production dropped a cummulative of 974,000 ounces in Q1 compared to production totals in Q4 2019. In a study of the top gold miners listed on the NYSE, nine out of ten miners recorded production drops in Q1. (AngloGold Ashanti did not release a Q4 total for 2019. Instead, the Q4 total was averaged from the company's six-month total. The other exception was Kinross Gold, which released production in gold equivalent ounces.) Cumulative fourth quarter production in 2019 for the largest gold miners listed on the NYSE was 6.834 million ounces. In Q1 of 2020, production dropped 15% to 5.859 million ounces. Miners were affected by governments enforcing closures on mines around the world, such as Mexico, South Africa and the province of Quebec in Canada. COVID-19 wasn't the only reason for the fall off. Production was also affected by seasonal changes, modified mine plans and variability in operations. when mines start back up again the price will drop accordingly. |
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