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PMGOLD - Perth Mint Gold ETF

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Record highs continue to be made in AUD gold. Been a pretty good run with no end in sight. Touched the mid $3920s last week, not really far away from having a 4 in front of it.

The general gold narrative remains pretty strong, but has also had an incredible run. I've been expecting a decent pullback with profit taking but it seems to be in a sweat spot for further gains.

With China back from holidays next week, Israel about to attack Iran more substantially to make a decisive statement, US debt getting closer to $36T with no signs either side has a plan to reign it in, the South China Sea and Taiwan on the brink, everything is still pointing to short term and longer term gains.

 
Thanks @Sean K , just an updated chart of PMGOLD which continues its way forward. Interestingly the GDX etf quoted on the ASX shows a similar 33% profit over the last 12 mo. I may have to revisit my belief that Gold itself is a better investment than the miners as I've got a lot of the stuff in bar and PMGOLD and no miners.

The RSI of PMGOLD is showing some divergence from the higher highs and higher lows of the stock price, so perhaps a pause is on the way and I may get a chance to get a cheeky "in" to GDX.



gg
 

I've been waiting for some decent consolidation to add some more of this, but it's just ran away. Even April is looking like a very minor blip. Another ATH this am. Can't complain that I should have bought more earlier as it's a terrible hindsight observation. I didn't think gold would be reaching these levels for another 12 months or so...

 
I was just about to add a chart to ASF on PMGOLD.ASX when I saw your post. I'll add it anyway. It shows the rise in Gold $AUD as a more gradual rise. If it helps I've been adding all year and have no regrets. Like you I've been hoping for a retracement, I did manage to buy in June/July after selling some yappers and exiting some term deposits at tax time. I can see it at $ 40.00 today ( I had planned to write before the weekend, but it just now rose again ).

The RSI just stays the same just below overbought. The largest buys by volume seem to have been around $36, so adding more is not that far away from the major holdings this year probably by family or fund entities. I have been trading it over the last 3 years but am now a holder. With the way the market is atm. if everything goes to putty Gold is still worth something is how I'm thinking.

For some odd reason the POG in $AUD makes more sense to me when buying or selling Gold than the price in $USD.






gg
 

It feels like yesterday that I bought my last 1oz coin from the Mint, but it was about $1500 cheaper than the current price. I was planning on handing down my coins to the nieces and nephew but I didn't expect to see a 4 in front of this price for a couple of years...




 
I remember my joy when bullions reached 2k..it feels like yesterday
Will i ever sell when we will be past the top is my worry
 
Sean K said:
It's been unusual. Gold slight correction, USD up, PMGOLD up. Doesn't add up.

Maybe they're running out of gold in the Mint.


View attachment 186528
Click to expand...
That, believe it or not is the talk around BRICS and US Debt. and the $USD as being the Petrodollar and every other dollar you can name.

Everyone is repatriating every ounce of gold they can get their mitts on.

gg
 
Garpal Gumnut said:
That, believe it or not is the talk around BRICS and US Debt. and the $USD as being the Petrodollar and every other dollar you can name.

Everyone is repatriating every ounce of gold they can get their mitts on
Click to expand...
well, the russkies thought they'd frontload that, and came out with


.
BRICS banknote was presented at the summit in Kazan. It is supposedly a "symbol of joint work" of the organization's members. In particular, at the summit, Russia wanted to present the creation of an alternative system of international payments without the use of the dollar. Instead, the BRICS countries did not support this idea of the Russian Federation.

... a few obvious errors.
Argentina - I don't think so
South Africa - not in English, so they went for Afrikaans !!
 

Russia will create new BRICS Precious Metals Exchange to become ‘key regulator of prices’ – Finance Ministry

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
www.kitco.com

Gold-backed BRICS currency

Andy Schectman, President and Owner of Miles Franklin Precious Metals, told Kitco News in a recent interview that this week's BRICS summit might hasten a global financial reset that could see gold revalued at up to $150,000 an ounce.

According to a whitepaper, the 'Unit' would be pegged 40% to the value of gold and 60% to a basket of BRICS national currencies. It is designed as an "apolitical currency," addressing the concerns of countries worried about the weaponization of the U.S. dollar.

“Let's call it a quickening, if you will, an acceleration of this de-dollarization movement and into a new system,” Schectman said. “That potentially could indeed be backed by gold.”
 
BRICS as an idea is a good one for the Global South. Unfortunately the reality is different. Two of its constituents Russia and South Africa have populations post revolution unable to turn their commodity wealth in to genuine wealth. In large part this is due to laziness and alcoholism on a grand scale.

While my gold would appreciate greatly were the $BRICS to beat or equal the $USD I believe that while the former currency relies on lardarses and drunks as security the $USD will always win out. It would have a better chance were it a $YUAN/RUPEE which isn’t ever going to happen.

The $USD will live on for another ten or twenty generations of the Global South’s miserable existence.

gg
 
Sean K said:
I think gg will have the RIH dart team out there with a spade soon.
Click to expand...
@Sean K

I have never had a run like this (touches head) and I'm either going to keep it as is now without adding. Between the bar well hidden and PMGold in the SMSF I'm happy and strangely not delirious.

I had followed the mainstream of spreading the risk among assets and was driven to distraction with less than average results. Four years ago ( about a year after I gave up the grog ) I looked at markets and decided that Gold here and IT/IT connected in the US were the way to go. So listen to your uncle Garpal all beginners, don't drink and don't spread your risk. btw I had a marvellous 55 years on the grog, enjoyed every drop but others didn't.

Enough of self disclosure. This page will turn and some archeologist will find a hard drive in 1000 years time and read this. The page will turn and Gold and IT will probably go to crap and I'll be still ok.

gg
 
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