BullBearMkt:

...it will definitely take a while before gold go below $1,500.
Reasons:
1. We are close to seasonality where gold is more bullish (chart 1 below shows 20 year average return on gold/month with Bullishness Probability/month)
2. Past 8 month gold optimism/pessimism for the past 1.5 yrs has never gone below 47; now at 61, I'm expecting reversal around 50 in the couple of weeks (Used as Gold's sentiments) - Chart 2
3. Talking about the chart, there are couple of strong supports waiting for gold. If the "fair value" @ 1861.750 is violated, then next support level between 1677 & 1740 needs to be overcome as well. However, I still expect a retest of 2035 in the next 2 - 3 weeks - Chart 3

Overall outlook is still bullish, it's just a pullback. I expect gold's rally averagely from October to next year March.

It won't even take long. There needs to be a hard fall in Gold. Hard fall before any comeback can happen.

Many Gold funds will go bust just like how hedgefunds went bust between March till June 2020. I will see whether Fed will bail Gold fund firms out. I will see whether Fed will buy stocks. I just pray banks in Europe will not collapse. We will see how it plays out. But just remember that volatility has entered into the US market.

ukay2:

[/b]

Ahhh

Below the 52 weeks low?

There is currently a herd effect in gold. You won't understand it because in Nigeria we don't buy gold.

Most people in Middle East, Asia, are packing all their funds into gold. This is herd effect. The lucky buyers were Nosa2 dem that bought long ago. Once the selloff don gain traction, then you will see massive dumping of gold before it will now stage a comeback after Fed do their yeye thing once more.

RabbiDoracle:


It won't even take long. There needs to be a hard fall in Gold. Hard fall before any comeback can happen.

Many Gold funds will go bust just like how hedgefunds went bust between March till June 2020. I will see whether Fed will bail Gold fund firms out. I will see whether Fed will buy stocks. I just pray banks in Europe will not collapse. We will see how it plays out. But just remember that volatility has entered into the US market.

...Smart hedge funds will not go burst as many of them follow market sentiments and besides they are not short term investors, but rather long term. Talking about US market which I follow religiously, prices are back to pre-COVID panic. Only retailers went burst!

...and talking about gold with a hard fall, this will take panic selling and/or strong USD, which is not happening for at least medium time. Traditionally, this is the time people in the middle east and far Asia (especially Indians) accumulate gold for religion and other celebrations - just as you rightly mentioned. All these have effect on rising gold price.

RabbiDoracle:


There is currently a herd effect in gold. You won't understand it because in Nigeria we don't buy gold.

Most people in Middle East, Asia, are packing all their funds into gold. This is herd effect. The lucky buyers were Nosa2 dem that bought long ago. Once the selloff don gain traction, then you will see massive dumping of gold before it will now stage a comeback after Fed do their yeye thing once more.

What platform do you buy commodities (Gold and Crude-oil)?

OBAGADAFFI:


What platform do you buy commodities (Gold and Crude-oil)?

You can trade it on most forex platforms.

Chibuking81:
http://www.nse.com.ng/Financial_NewsDocs/31249_LASACO_ASSURANCE_PLC.-_QUARTER_1_-_FINANCIAL_STATEMENT.pdf

I just knew this coy will deliver.
EPS Q1 2020: 0.04 against 0.03 in Q1 2019
Q1 2020 PAT: 266, 371 against 256,503 in 2019.
33.7% Income tax reduction.
I hope Mr. Market will price it right at the right time.

Chibuking81:
http://www.nse.com.ng/Financial_NewsDocs/31248_U_B_A_PLC-UNITED_BANK_FOR_AFRICA_PLC_-_NOTIFICATION_OF.pdf

UBA will pay interim dividend.
How much is another thing....but that's good news at least.

lexy2lexy:
Did anyone notice Heineken is buying NB PLC shares

I noticed......there were quite a lot of cross deals on the stock, think I even mentioned it here..........buy not aware Heineken was the buyer.
Maybe they're taking up some % in the coy or just increasing their stake, making good use of the low price opportunity.

RabbiDoracle:


You can trade it on most forex platforms.

I have accounts with Pepperstone and FXTM, but I can't find options for commodity trading.


I will ask them.


Thanks

aremso:


that is it if i must play long time i must buy foundamentally sound stocks and go to sleep just be checking if those foundamentals are there. Imagine if i have 2m units of zenith bought at 10.70 do i need to disturb my braing again as those foundamentals are still standing？ no be just to be enjoying dividend till FPI will jack it up for me then i take a bow to reenter later！ Good dividends sweet pass house rent sef

Loooooool

Why is it sweater at the bold statement?

The Gold bubble is imminent.
The price of bullion is skyrocketing while sales of gold jewelries is the bottom.
This is at the most disproportionate level in the hx of commodity and price exchange.
Most jewelry retailers are offering huge discounts for buyers.
The herd effect and FOMO is propelling the price.
The speculators are busy campaigning on the imminent collapse of US $.
The $ will collapse but not anytime soon. The way American issued crypto-coins dominate the crypto world is an indication that the US $ is not collapsing soon.
Commodities will collapse, not the US $.
Technically and Fundamentally speaking, the US $ is the symbol of world trade.
The US rivals knew it and this is the primary reason Beijing and Moscow are doing everything possible to rewrite World order.
Interesting and perilous times lie ahead.

THEY WERE SAINTS FROM EARTH TO HEAVEN

https://www.nairaland.com/3560501/holineness-righteousness-revival-messages-bible/29#92852898

ukay2:


Loooooool

Why is it sweater at the bold statement?

your tenants can give stories but good dividend paying stocks cant give you stories na

aremso:


your tenants can give stories but good dividend paying stocks cant give you stories na

False! Companies can decide to retain earnings to help them maximise their capacity, and for future growth & value

In the market, impossibility is nothing!

I suspect Guinness will do same, it is possible that forex restrictions affecting repatriations is making parent companies to increase shareholding because that may be their best use of Naira especially because of the low valuations.

Mcy56:

I noticed......there were quite a lot of cross deals on the stock, think I even mentioned it here..........buy not aware Heineken was the buyer.
Maybe they're taking up some % in the coy or just increasing their stake, making good use of the low price opportunity.

OBAGADAFFI:


I have accounts with Pepperstone and FXTM, but I can't find options for commodity trading.


I will ask them.


Thanks

With fxtm, it's there iin their standard account.
Or you can link your account with mt5.

Ibrahim505:

With fxtm, it's there iin their standard account.
Or you can link your account with mt5.

Thank you

Godlylifeoneart:
The Gold bubble is imminent.
The price of bullion is skyrocketing while sales of gold jewelries is the bottom.
This is at the most disproportionate level in the hx of commodity and price exchange.
Most jewelry retailers are offering huge discounts for buyers.
The herd effect and FOMO is propelling the price.
The speculators are busy campaigning on the imminent collapse of US $.
The $ will collapse but not anytime soon. The way American issued crypto-coins dominate the crypto world is an indication that the US $ is not collapsing soon.
Commodities will collapse, not the US $.
Technically and Fundamentally speaking, the US $ is the symbol of world trade.
The US rivals knew it and this is the primary reason Beijing and Moscow are doing everything possible to rewrite World order.
Interesting and perilous times lie ahead.

...Gold speculations is based on expectations of rise in US inflation which will impact price of gold directly. There are many contradictions to your post and the reality. It's all about demand and supply. Countries that traditionally valued gold keeps accumulating as the price is rising; Valued Stock investor, Warren Buffett buying 1.2% of gold miner stock etc. For example: https://www.bbc.co.uk/news/world-asia-india-53590846

BullBearMkt:

...Gold speculations is based on expectations of rise in US inflation which will impact price of gold directly. There are many contradictions to your post and the reality. It's all about demand and supply. Countries that traditionally valued gold keeps accumulating as the price is rising. For example: https://www.bbc.co.uk/news/world-asia-india-53590846

Bros, forget demand and supply. Global markets are rigged. Once you can accurately predict what they want to do, you will just be making money.

Gold is gonna fall and fall hard. Then the herds that are buying now will go and sell and depress it more.

It is after that time that the smart investors will enter again backed by media and start phase 2 of the move. If you look well, media assists in this bull/bear herd events.

Godlylifeoneart:
The Gold bubble is imminent.
The price of bullion is skyrocketing while sales of gold jewelries is the bottom.
This is at the most disproportionate level in the hx of commodity and price exchange.
Most jewelry retailers are offering huge discounts for buyers.
The herd effect and FOMO is propelling the price.
The speculators are busy campaigning on the imminent collapse of US $.
The $ will collapse but not anytime soon. The way American issued crypto-coins dominate the crypto world is an indication that the US $ is not collapsing soon.
Commodities will collapse, not the US $.
Technically and Fundamentally speaking, the US $ is the symbol of world trade.
The US rivals knew it and this is the primary reason Beijing and Moscow are doing everything possible to rewrite World order.
Interesting and perilous times lie ahead.

When USD fluctuates up and down causing crisis and devaluation in other countries, that is when the world will need to come together and find another common currency to use. Maybe a global digital currency as opposed to paper currency where you can't hide the paper under a mattress like me This will be the second 'Bretton Woods' agreement. But it will not be an easy agreement because China, India, Russia, Turkey and many strong EMs will want a neutral currency that will not be weaponised.

RabbiDoracle:


Bros, forget demand and supply. Global markets are rigged. Once you can accurately predict what they want to do, you will just be making money.

Gold is gonna fall and fall hard. Then the herds that are buying now will go and sell and depress it more.

It is after that time that the smart investors will enter again backed by media and start phase 2 of the move. If you look well, media assists in this bull/bear herd events.

...well, time will tell! I follow data & market sentiments & they are all in agreement that gold pullback is imminent. CFTC that regularly report the activities of corporate hedgers indicate they are increasing their net long which is in support of the pullback. It is when there is excessive increase in hedgers net long do we have hard fall you are talking about couple with good performance of USD!

Please which broker are you using to invest in Nigeria stock exchange

RabbiDoracle:


When USD fluctuates up and down causing crisis and devaluation in other countries, that is when the world will need to come together and find another common currency to use. Maybe a global digital currency as opposed to paper currency where you can't hide the paper under a mattress like me This will be the second 'Bretton Woods' agreement. But it will not be an easy agreement because China, India, Russia, Turkey and many strong EMs will want a neutral currency that will not be weaponised.

Naira can come to the rescue! ha! ha!! ha!!!

primehero:
Please which broker are you using to invest in Nigeria stock exchange

...I've been using Morgan Capital for many years & I think they are not bad. Let others comment & you can do your due diligence.

RabbiDoracle:


Bros, forget demand and supply. Global markets are rigged. Once you can accurately predict what they want to do, you will just be making money.

Gold is gonna fall and fall hard. Then the herds that are buying now will go and sell and depress it more.

It is after that time that the smart investors will enter again backed by media and start phase 2 of the move. If you look well, media assists in this bull/bear herd events.

Time will tell. My bet on gold is paying off nicely. I'm currently betting on a rally in oil

I use Cordros Trade Button.
happy with their service so far..

primehero:
Please which broker are you using to invest in Nigeria stock exchange

Greetings house, i am back with my Forex trading right now i am dear need of investor/partner. Profit will be shared according to agreed formula. Please note. I'm very ready to meet so email me oliverabj94@gmail.com lets get started

primehero:
Please which broker are you using to invest in Nigeria stock exchange

I use meristem though their charges is kind of high but they have good service

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https://www.bloomberg.com/opinion/articles/2020-08-12/selloff-in-both-gold-and-treasuries-muddles-economic-outlook

nosa2:


Time will tell. My bet on gold is paying off nicely. I'm currently betting on a rally in oil

What's your time horizon estimate?

nosa2:


Time will tell. My bet on gold is paying off nicely. I'm currently betting on a rally in oil

Which of the oil though, Palm or crude