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CNMC Goldmine
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Goldminer
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paul1688
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14-Jun-2016 19:30
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This is an extract from Money Morning 9th June.
...... here's what will continue to drive gold prices this month and beyond. One of the biggest catalysts for gold prices was last month's dismal jobs report, which showed U.S. employers only added 38,000 jobs in May. That caused the odds of an interest rate hike in June to drop dramatically. In fact, there's virtually no chance the U.S. Federal Reserve will increase interest rates when policymakers meet on June 14-15. Markets are placing 4% odds on a rate hike this month. For July, odds have dipped to 36% from 42% before the jobs report. For September, chances of the Fed raising rates are 51%. The ugly jobs reports, subpar economic growth, and low inflation all have analysts expecting more dovishness from the Fed. In fact, BNP Paribas doesn't see the Fed raising rates until 2018. And that low interest rate environment has sent gold prices surging in June. But that's not the only reason the price of gold in 2016 will continue higher? Fears of the UK leaving the European Union have also stoked gold demand. Voters head to polls on June 23 to vote on a "Brexit." A UK exit would rattle global markets, cause trade imbalances, and fuel worries that other countries might follow. The growing use of negative interest rates and negative yields has also driven gold prices higher. An estimated $10 trillion of fixed-income securities have negative yields currently. Corporate profits continue to fall. The estimated earnings decline for the S&P 500 Index in Q2 2016 is 4.8%, according to FactSet. If the broad-based index reports an earnings decline for Q2, it will mark the first time the index has recorded five consecutive quarters of year-over-year (YOY) declines in earnings since Q3 2008 through Q3 2009. Slowing growth and inflation in China are ongoing concerns. Data out Thursday showed consumer inflation rose 2.0% YOY in May, compared with a 2.3% rise in April. The falling inflation rate has many believing China's central bank will introduce new economic stimulus measures. Disclaimer : I happen to be a gold bull and vested in CNMC plus other gold relates equities. Gold is after all a commodity and will be subjected to market forces and changes including shocks, surprising turn of economic events and new development. Please DYODD before investing. I am vested based on existing market info to believe we are continuing a gold / silver bull trend - personal investment judgement. Like all investment decisions, can always be right or wrong or uneventful. |
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FreedomAngelz
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14-Jun-2016 15:54
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lol.....this counter need to be patient. I took one month to grow from 0.27 to 0.295. When it announce its Q2 2016 result, it will be another good result. 2 months away from the result post.
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johnng
Supreme |
14-Jun-2016 15:38
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think can LOOK AT other gold miners' like ANCHOR |
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appleronaldo
Veteran |
14-Jun-2016 15:25
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TUA HUAT CNMC |
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luca_brasi
Member |
13-Jun-2016 21:07
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I don' t think your analysis applies for CNMC : - Gold Up and USD Up = CNMC makes profit but records FX Loss due to MYR depereciation. - Gold Up and USD Down = Best scenario for CNMC like this Q1 with huge FX gain. CNMC is already profitable at less than $500/oz and sustained Gold bear market from 2011 to 2016. In commodities, only the co' s with strong balance sheet survive the down cycles. It may trade sideways at 30c but with August results coming, expect dividend declared to be a signicant increase over last year. Once BB realizes CNMC trades at > 5% dividend yield, they will push to 40c+.
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NoMoney
Master |
13-Jun-2016 19:46
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dont just look at gold price... look at the USD that has in relation to gold... the mines will have huge profits are only listed in US. I had bought 1oz gold coin at SGD$1850 when gold price is at ~1500. Now the 1oz gold the cheapest i can find is SGD$1800 when the gold current price is ~1285 gold & usd up = high profit gold up usd down = not much different (unless gold sky rocket 1350 ~1600 with small adjustment to usd) gold down usd up = not much different (unless USD shoots up to 1.4 ~1.5 likey wont be happening any time soon but who knows) gold down usd down = u have been screwed by the market have fun long and enjoy in 2-3 yrs u wont be sitting there thinking i should have bought it last time same all oil counter will have impact in profits in coming months due to low oil prices.and many gold mines have already been losing money due to low gold price.need to wait till the gold price increase before the mining company will declare profit and it will take months or years. wan faster gain just get GOLD ETF BUT if gold can break 1300 might be able to see this CNMC break 0.30 may be hit 0.33 before profit taking again.
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FreedomAngelz
Veteran |
13-Jun-2016 18:43
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Still 0.3 is big barrier to overcome.......but what we are seeing is support building at 0.295. If gold go past $1300, might have chance breaking the resistance.
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SaltyCake
Senior |
13-Jun-2016 17:57
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First time closing @ 0.300 in a long time, good closing, could see more movement in this week. Currently gold up 11.10 to 1287, hopefully it will break through 1300 after wed fed meeting result. Coupling with the brexit fear, if any more inclination towards brexit in polls will lead to higher gold prices
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josephyeo
Elite |
13-Jun-2016 14:56
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correction .. as of 14.50pm
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josephyeo
Elite |
13-Jun-2016 14:52
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Gold price is up $7.18 as of 15.50pm today. Now trading at $1280.51 |
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FreedomAngelz
Veteran |
13-Jun-2016 14:40
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Likely subject to the matter if Britain leave or remain in EU.
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FreedomAngelz
Veteran |
13-Jun-2016 14:14
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This counter is my safest bet....most of my counter is down 10-15%.....only this is up 7% |
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halleluyah
Supreme |
13-Jun-2016 13:30
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Need to bcareful as tis mrng cnbc news saying int hike in july still on the table...if int hike then gold will sink...
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trader1970
Elite |
13-Jun-2016 11:47
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In such a flight to safety mood, what is your guess? This counter will be the safest bet.... By end of this week, you will not see this price anymore... Funds etc will be accumulating and buying it up... this counter is the best bet against an uncertain enviornment. If US gold and related counters be spiking up in the days and weeks, this have to join the rest... :) |
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halleluyah
Supreme |
13-Jun-2016 10:02
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Gold continue uptrend frm fri...now up 42cts (1274.66)..... |
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halleluyah
Supreme |
10-Jun-2016 15:36
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Its always gd to protect some capital....mkt vry weak...
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FreedomAngelz
Veteran |
10-Jun-2016 15:05
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Just out of curiosity, how much shares do you guys own for CNMC? I`m currently at 100,000 with avg price of 0.275. |
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halleluyah
Supreme |
10-Jun-2016 13:40
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drop further -$4.62
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FreedomAngelz
Veteran |
10-Jun-2016 11:45
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If gold price can maintain $1250 and above till June ends, confirm plus chop CNMC 2Q2016 result will beat YoY provided their output is maintain at per Q12016. When Aug they release the result, this will help push the share price.
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halleluyah
Supreme |
10-Jun-2016 11:35
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Gold drop $2.46 |
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