Happy days. Retained hold on what I had last week. Centamin at 10% portfolio.
Here we go again. I’ve lost out twice at major profits, will that happen again?
Once more waiting. Maybe 114p as an entry point this time
What do you think @tornadotony
The chart shows very strong support in the 111-112p area which it rallied from on Christmas Eve as gold broke 1500. The Chinese New Year ends on 25th January as we enter the year of the rat. If gold retreats to allow the physical market to off load some additional stock and gold demand over Chinese New year is poor than gold with Centamin retreats. If on the other hand we see a big pullback in the USD and this pushes the value of gold up, centamin advances modestly from where it is probably up to 144p is how I see it.
My entry was 112.9p and I am holding what I have which as 10% of my entire portfolio and I am prepared to average it down from cash being held if it goes lower. If it goes higher I am not selling either and have opted to collect the 4p divi. I would not be glued on a particular point for entry and base your decision on what you think is happening to gold.
Centamin may begin to spend some of their cash on developments and its uncertain how it will affect the share price during the year. If they are penalised for investing the share price rises stronger in 2021. So you could buy low and have to sit on it awhile as it goes right up to new highs like Polymetal.
Whatever you decide good luck. The cheapest gold/silver miner is Fresnillo as it is in the middle of its investment cycle.