Precious Metals Who is buying gold at the moment?

Sold 1/3 of my holdings in them at $2.10 CAD as that was already a triple for me. The remaining 2/3 I will let run for now (closed up another 14.6% today and now sitting @ $3.61 CAD. Its the sort of stock that I'd love to sit down & discuss with Joe Mazumdar all its potential pros/cons over a beer or two....but unfortunately thats just not going to happen!

I too own ARD My ave. buy in at 0.0275. So only up 12.57% currently. Multi bagger potential? Will need either significantly higher prices in metals or more positive drill results going forward. But happy to hold presently.

MRV?
Did you perhaps mean MRD instead?
Either way, I don't currently own either of them.

 

Nice work on the Novo free carry, another big rally overnight!

& no I meant MRV, Moreton Resources. Expecting they will be Australia's only 'primary' silver producer by year's end.

 

Thanks,
I'm not familiar with MRV,
But will look them over sometime this weekend.
Whats Management like? Any skin in the game?

 

Lots. One of the directors has ~29%, very much financially motivated for success. Wrote a bit about them in a blog post earlier in the year: ASX Silver Stocks: Moreton Resources (MRV) | 2340, but a lot has changed since then so would recommend to DYOR, have a look at their restart strategy for the granite belt project released in recent months. They still have a decision pending with the AAT which could result in them owing the tax office ~$7m, something to keep in mind, but potentially could be paid back via cashflow in the near future if swings against them. A few more recent thoughts here: Soon to be SILVER producer

 

It's tiny bit safer than cash under the mattress especially at bad times and not neg geared

 

I dont personally hold gold in my portfolio, primarily based on views held and championed by Buffett.

I recently listened to an interview by Jim Rickards who explained that primarily the function of gold has been largely misinterpreted. Rickards is of the view that gold can be used as insurance on a basket of equities, the ratio being a 10% hedge.

What are peoples thoughts on this? Is gold an effective hedge against market down turn? Is 10% an effective exposure against a major downturn?

 

A couple of links that might be worth a read on gold as a hedge / reducing portfolio volatility:

How Much Gold Should You Have In Your Portfolio? | Research

https://www.gold.org/sites/default/...ch/WOR5963_Gold_Hedging_against_tail_risk.pdf

 

The Wonawinta project....Ahhh!!!!
You've gone & opened up an old wound up in me there mate Guest
I admittedly lost a sizeable parcel in that project when Cobar Consolidated went broke years back now.
Management spent millions on it then it was sold off to Southern Cross? IIRC for an absolute pittance in receivership. Who then I last heard changed their name to whoever the hell it was? & also went bust not much later.
I'll look into it further this weekend as mentioned earlier.
Wonawinta is a project where the upside will be absolutely unbelievably mindblowing on a rising Silver price...but the downside can be absolute zero. I know, I've been there, I wear the scars to prove it.
Cheers.

 

And since the GFC gold value has been declining.
If i could do what central banks (or even standard banks) maybe I too would be buying some type of bullion.

And I've been around long enough to know that over the long term even the anorexic Thornton 4% yearly returns are better than any bullion investment.

 

Wonawinta is not the project MRV has, but it is another one that two silver juniors (AYN / MMN) have gone bust mining in the past. All silver plays are risky to hold over the long term, particularly given volatility in the price of silver, but can be lucrative if you time your entry and exit right. I made 10-15x return on most of the CCU shares I held.

 

Congrats,
I left my money at your table then on Cobar years ago.

 

Not buying physical gold.....but gold related stocks have been great vehicles over past 9 months and some of my preferred stocks (NST, EVN, RRL, NCM) are pulling back in to re-accumulation zones.

NCM very interesting right now. Gold sector entered long term relative strength phase recently (benchmarked against XJO)...


NCM long term RS on similar trajectory (unsurprisingly)...


NCM short term RS in lagging phase (pullback in the long term strength)...



Good geometric support and ideal timing zone next week...


Ideal price zone $21.60 down to $21.10, timing for low 25-29 Sep.

Best to wait for rejection from buy zone first. If it gaps or closes weak on daily bar significantly below $21 idea is invalidated.

Not advice, DYOR

 

Been thinking about opening an account
this could be a no fuss way to gain exposure to the gold market

would be interested in anyones thoughts on gold money accounts ?

The World’s Most Trusted Name in Precious Metals - Goldmoney

 

Probably better off simply buying PMGOLD on the asx.
It’s a physical holding backed by the Perth mint.

Perth Mint Gold (ASX) - The Perth Mint, Australia

 

Which Thornton might that be?

 

I think he means Thornhill. @Piston_Broke's a great poster but occasionally likes to substitute the cigar for something more potent. I prefer home brew myself:

 

I got 3 ounces of gold and an ounce of other stuff.

Once they nuke Nth Korea I'm sure this stuff will be in high demand.

 

Don't mention Blueberry Kush or White Rhino or else the old fella gets cranky :')

 

Not a fan of bush but respect your preferences :')

 

Perception i a strong motivator. And "experts" as well.
Gold does have some value in manufacturing, and cosmetic value of jewelry (which is just perception), but as long term investment or storage of value it is useless.

In case of zombie apocalypse it will have less value than it has ever had in history.

Yep, though it says how much I really think of his unmemorable investing advice.