Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

GOLD Spike up

Reply
CrownA
Super Contributor
Why is Gold taking off - Are people waking up to the Chinese president's announcement that they were worried about the quality of their $750bn+ debt they are holding??
0 Kudos
8 REPLIES 8
Not applicable
For once the stupid money (mine) was in the right place... Very impressive jump given that the markets and US futures are still positive. Also interesting that there were no significant exchange rate moves with the move in the gold price.
0 Kudos
Wizard
Super Contributor
Gold stocks are not buying into that... at least not so far
0 Kudos
Not applicable
With the rand having strengthened yesterday, the rand gold price is still lower than at the close yesterday. If this is the reason though, it seems strange though that the diversified miners should ignore the strong rand, while the gold miners suffer for it? Perhaps the relatively high P/E ratio in the gold index is putting people off? Or folks have figured out that the South African mines are pretty much clapped out?
0 Kudos
Not applicable
can anyone explain to me how new gold (gld) works? does it track the gold price? how is the price for gld determined?
0 Kudos
Not applicable
gld is 1% of Rand/Gold price
0 Kudos
Not applicable
For more info on GLD, see Help and education > How to guides. There is a PDF there on GLD. Watch out for the wide spread, particularly with a geared entry - try to be patient and get good entry and exit prices to avoid paying the full market-maker spread.
0 Kudos
barry_1
Super Contributor
HAR dropping like a stone!....They have arrested 114 illegal gold miners yesterday, that have been stealing gold and taken other steps to curb the activity,perhaps this frightens some people,but surely a good sign that they are taking action.Can not think why , as all the mining groups suffer from the same problen to various degrees including the platinum miners.
0 Kudos
Not applicable
A couple of illegal miners can't possibly affect their reserves or production volumes. Perhaps investors were worried of a shaft closure? Harmony appears undervalued relative to other stocks.
0 Kudos