I bought some Fresnillo shares

[Cointreau]

I bought some Fresnillo shares a week or so ago. Any way, I could not help but notice that gold is still holding its own against the dollar.

[Tn21]

10 minutes ago, Cointreau said:

I bought some Fresnillo shares a week or so ago. Any way, I could not help but notice that gold is still holding its own against the dollar.

Ahh nice I was going to pull the trigger at 6.87 but failed to pull the trigger lol. I'm going to get some fresnillo before I die. 

Edited April 22, 2020 by Tn21
No more off topic from me,

[ChrisSilver]

Moved to the Interactive trading section, wasn't sure if it should be here or the other investments section. Can move there if needed  

[Pipers]

Welcome, I hope you have read the report before you bought!  If not I suggest you go over and read it it makes for good reading

Edited April 22, 2020 by Pipers

[GoldenPhil]

1 hour ago, Cointreau said:

I bought some Fresnillo shares a week or so ago. Any way, I could not help but notice that gold is still holding its own against the dollar.

It looks cheap on the 3 year chart and expensive on the 6 month chart 

[cravethatcoin]

Looking at the chart it looks very volotile. Also up very slightly on the year.

I'm also looking to get into mining stocks but some of the others are up 80% on the year so will pass for now.

[GoldenPhil]

I just shorted highland gold

[Pipers]

On 22/04/2020 at 23:39, Tn21 said:

Ahh nice I was going to pull the trigger at 6.87 but failed to pull the trigger lol. I'm going to get some fresnillo before I die. 

I thought you were in last year with me,  why did you not buy? 

Fresnillo still has 2 mines closed (sick).  Plus one mine is mining low grade because of machinery problems.  F-ck when someone sorts that out if they ever do the shares will go right up. 

I always read the Annual report before I buy, not that I understand it all but It gives me a better understanding of a company. 

 

[Tn21]

2 minutes ago, Pipers said:

I thought you were in last year with me,  why did you not buy? 

Fresnillo still has 2 mines closed (sick).  Plus one mine is mining low grade because of machinery problems.  F-ck when someone sorts that out if they ever do the shares will go right up. 

I always read the Annual report before I buy, not that I understand it all but It gives me a better understanding of a company. 

 

Hi, yh your the forum member that I referred to at a previous post. I didn't really want to put a miniscule amount. I'm waiting to enter in this stock. 

Pming you now. 

[GoldenPhil]

27 minutes ago, Tn21 said:

Hi, yh your the forum member that I referred to at a previous post. I didn't really want to put a miniscule amount. I'm waiting to enter in this stock. 

Pming you now. 

Depending on how keen you are to own this you may want to wait and see if you can get it for around 550 GBX 

[Tn21]

You think it will go back down to that price @GoldenPhil?

[GoldenPhil]

29 minutes ago, Tn21 said:

You think it will go back down to that price @GoldenPhil?

It is not impossible.  But if you wait, it may not happen and then you will miss out or be forced to pay higher. I am waiting as I don't mind if i get it or not. 

[Cointreau]

On 23/04/2020 at 15:38, GoldenPhil said:

I just shorted highland gold

How is your short doing? I just shorted gold. I fancy a knock down is imminent to 1640 at least. That's my guess anyhow.

[GoldenPhil]

5 hours ago, Cointreau said:

How is your short doing? I just shorted gold. I fancy a knock down is imminent to 1640 at least. That's my guess anyhow.

I was in at 240 then out at 230. So a small profit. I think you are right about gold. I can see it going to $1,000 but I am too scared to short gold lol but maybe I will lol

[GoldenPhil]

20 hours ago, Cointreau said:

How is your short doing? I just shorted gold. I fancy a knock down is imminent to 1640 at least. That's my guess anyhow.

I am shorting it as well. Wish us luck TSF 

[Tn21]

Can I ask how you are both shorting gold? 

 

[GoldenPhil]

1 minute ago, Tn21 said:

Can I ask how you are both shorting gold

I use a trading app in the UK. To short it you simply click the sell icon. Then to close the order later you click the buy button. 

[Martlet]

1 hour ago, GoldenPhil said:

I use a trading app in the UK. To short it you simply click the sell icon. Then to close the order later you click the buy button. 

iq options?

[GoldenPhil]

1 minute ago, Martlet said:

iq options?

No. DM for info 

[Cointreau]

4 hours ago, Tn21 said:

Can I ask how you are both shorting gold? 

 

I was £11 a point short on the IG Index platform. I just closed £5 of it to take some profit. I might be getting better at this. Been doing it for over five years mind.

I called last Thursday's rise as well. Just got to keep that hubris in check cos overconfidence can kill you.

Edited April 30, 2020 by Cointreau

[Cointreau]

Tthe fundamentals just aren't there for gold to go down anywhere near $1000.

I don't see it going any lower than 1570 during the summer lull and this sucker's rally in the stockmarkets.

[Tn21]

@Cointreau

For £11 a point surely you got have a sizeable amount of margin ?

[SilverPirate007]

I put 2k into shell today. Not sure if I regret it. In for at least 10 years though.

moved some cash from GVC which I managed to buy at 480 and sell at 700.

Edited April 30, 2020 by SilverPirate007

[Cointreau]

34 minutes ago, Tn21 said:

@Cointreau

For £11 a point surely you got have a sizeable amount of margin ?

If you want to do some maths I am £15 a point long corn current price 319, 1.5 long live cattle current price 8595 and £6 a point short gold.

And my margin on all that is £2273. Today was a good day. All three were going against me this morning but now they're all good.

[Cointreau]

I might go long wheat as well as I think farmers are really struggling in general. With labour shortages, low commodity prices, the weather (look for a cold and early autumn)

and now Covid shutting down meat packing plants and  affecting supply chains. And Russia will likely not be exporting any of their wheat for the foreseeable future.