Calibre Mining Corp T.CXB

POG

[stockpunter2]

What a joke!  POG drop wipes out many billions because some dufus writes an article about Chinese central bank pausing gold purchases after 18 months of buying.  First, remember a few months ago when NO ONE could figure out why it was going up?  So, when Chinese central bank buying becomes the rational explanation, which somehow no one figured out for the first 12 months of buying, everyone was primed to don their lemming suits and crush each heading for the door.   Also, remember that retail gold buying was becoming a huge fad because Chinese citizens had no faith in their bogus, heavy-to-real estate-based econominc model or their fiat currency.  So CCP may have been whacking their citizens into line, but more realistically, Chinese central bank buying was just the "conventional wisdom" for the POG soaring.   

https://www.forexlive.com/news/why-gold-dropped-on-the-headline-about-china-halting-reserves-buying-20240607/

I would NOT short CXB ( and what sort of short-seller announces their intention when doom-spreading?).  CXB has excellent management and operations and could well get up to 2.50/share this summer.
But I do think you might be in for a nasty surprise one day, so I try to inform about the political risk.  I think some negativity might be in order to counter the witless, idiotic cheerleading from certain frequent posters.

[Singoa58]

The chinese have switched to copper now

[Singoa58]

Summer doldrums now .... gold will be weak for awhile now

[geezer21]

Central Bank of China may only pause. It means nothing when all other central banks and others are buying. Graphs show the trend in gold increasingly growing as a percentage of reserve while the dollar reserve currency continues to decline.  Gold just recently surpassed the Euro as a reserve.

[stockpunter2]

I cannot remember where I read it, and I can not vouch for the veracity, but apparently central bank buying mostly just matches central bank selling.  If anyone has conflicting or corroborating info, I would love to hear it. 

[geezer21]

Not true.  Here are the charts: https://www.zerohedge.com/markets/gold-overtakes-euro-global-international-reserves

[stockpunter2]

ok.  If you think charts going back to 1890 are the way to go.  Banks dumping gold like crazy.

[stockwatcher7]

This post has been removed in accordance with Community Policy

[BGraham2]

nice chart stockwatcher7 - some people cant see the forest for the trees! lol

[geezer21]

Gold is selling out in South Korea: https://www.zerohedge.com/markets/south-korea-has-gold-vending-machinesand-theyre-selling-out

[BGraham2]

Zero Hedge: https://sg.news.yahoo.com/finance/news/zero-hedge-anonymous-authors-unmasked-144937903.html https://www.usatoday.com/story/money/business/2022/03/01/us-links-zero-hedge-russia-propaganda/6926397001/?gnt-cfr=1 https://www.theglobeandmail.com/politics/article-companies-misinformation-google-ads/ ....and so on.