http://www.kitco.com/charts/livegold.html

cheers GF.

Bullish TA comment from Pro TA Tipster Zak Mir just out.

Zak Mir

Reged: 28/06/07
Posts: 624
Re: Peter Hambro Mining - POG.L
#439023 - 06/02/09 08:08 AM Edit Reply Quote



Chart wise a retest of the February intraday high so far at 612p is possible while the November support line at 450p holds.

With the way that the world economy is falling apart,the surprise to me is that the price of gold is not already much higher than its current level.

Yep but you have to remember CP that physical buying of gold especially in India during the wedding season as been a bit dissapointing this year.

Having said that the Big boys like MLynch and others see gold going on for $1000 and $1500

Loads err money, well in the near future.

tis but a speck of my profits today.

sticking with it as I see them recovering in a big way.

I put a load in the mlynch Black Rock gold fund some 18 months back,and is still about 25% off its high. They had fallen by some 60%. Of course , they only invest in the gold companies.

To be frank CP I wish they would hit 450p and then the game really is on. We can get on with it.

All this fannying around today as been pointless.

At the back of everybodys minds when they saw that discount placing they were first thinking ohh I wonder if they will be marked down to that level.

Its more or less happened so lets go forward from here.

ORE is still the cheap way in ..... do the calc!

cynic yes this is an interesting situation obviously if the POG sp falls the less number of shares have to be issued to ORE shareholders as it appears to be an agreed deal. Probably expect POG shares to fall and "miraculously" recover after the deal is completed, not very helpful to CFD holders.

is what you say true?
surely the deal is just all shares at 16:1, so the underlying price of POG is not strictly relevant

cynic sorry what we meant is as the POG sp declines so the value of the offer decreases and as you mentioned ealier CFD holders of ORE will lose out as they cannot receive POG shares.

suspect you are wrong, but shall check .... certainly we were paid out with IEC

cynic this is an all share deal not cash. To cheer you up Zak Mir sees a retracement by POG to 612p, if you believe in chartists!

Bought in today @ 465 - has to be a good deal in the longer term...
Shame i didn't have the courage of my convictions - i actually had my finger on the trigger to buy at 180p a couple of months ago, but didn't and told myself off about trying to catch a falling knife!!!

BT, hope it goes well for you.

Halifax, yep your right. Cyners have you cocked up here?.

That would be out of character for you but I agree with Halifax and you say more or less you have been under pressure re., ckn thread.

Hope you are Ok mate.

i don't think so ..... IG checking for me .... at worst, i still have modest profit to bank

cheers mate.

Please let us know.

of course

Ta.

Much appreciated.

Hoping you have had a good rest over the weekend.

Cheers GF.

Comment in article by P Hambro..


Gold prices set to go up on low output

Press Trust Of India / Mumbai February 9, 2009, 0:43 IST



Gold prices are expected to rise further as production of the precious yellow metal may fall again this year.


Goldman Sachs has announced an increase in its gold price forecast. It has upped its three-month prediction from $700 an ounce to $1,000 an ounce. Gold price is currently around the $900 a troy ounce mark and some commentators such as US equity manager, Francois Moute, expect it to hit the $1,600 level in the next year.

Goldman Sachs has become the latest to up its forecast in the past two weeks, following similar moves by Morgan Stanley and UBS, which have revised their predictions twice.

An upward pressure on gold prices is anticipated as its production is slated to fall further this year.

The precious metal is currently benefitting from the global turbulence and the fact that investors have reposed their faith in the yellow metal as against other supposedly safe assets. Gold has emerged as the best investment option in times of economic uncertainty like the one confronting the globe currently. Peter Hambro, Chairman of Russian gold producer Peter Hambro Mining, is making no exact price predictions, but expects the price to continue its rise through 2009.

Over the short-term, gold always responds to whats going on in todays market and that is what we are seeing today, Hambro said. But over the medium-to-long-term, the underlying supply and demand fundamentals have a bigger part to play in determining the price.

Gold production fell last year and may fall further in 2009. This is partly due to the lack of exploration success by the gold mining industry which discovered 15 million ounces last year, compared to production of 80 million ounce.

While the supply of gold looks like it may slow, Hambro foresees little slowing in demand.

On the demand side, the rising wealth of emerging economies is likely to support jewellery demand, while ongoing financial turmoil and inflationary pressures will continue to stimulate investment demand, Hambro said.

Nice recovery today.

Worth having a look at this presentation...

http://www.peterhambro.com/uploads/PHMAricomPresentation5Feb2009.pdf