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Barrick Gold Corporation Message Board

bollingr_band 69 posts  |  Last Activity: Mar 20, 2015 2:05 PM Member since: Feb 7, 2001
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  • March 20 2015

    The new benchmarking process for gold in London has begun today, but without any direct Chinese involvement as yet. The new London Gold Fix – or LBMA Gold Price – as it is now called is beginning with only a small change from the participants in the old system – Barclays, HSBC, SocGen and Bank of Nova Scotia, will now be joined by UBS and Goldman Sachs to make up the number to six.
    According to the LBMA there is as yet going to be no direct participation by any of the three Chinese banks which have expressed interest in joining and would appear to qualify for inclusion under the strict guidelines for doing so. The first new LBMA Gold Price benchmark price under the new system came in at $1171.75 at 10:30 am GMT this morning.

    Many observers had felt that the inclusion of one or more of the Chinese banks – ICBC, Bank of China and China Construction Bank – would be inevitable from the start of the new process, but as we pointed out here a few days ago (See: Fixing the Gold Fix – with or without the Chinese banks?) their inclusion at the start was certainly not inevitable – even though China is comfortably the world’s largest consumer of gold whatever the World Gold Council and GFMS may say in qualifying what they present as Chinese consumption figures. China is also comfortably the world’s largest producer of the yellow metal and it seems extremely strange, and can only contribute to the thinking of those who believe the gold price is being suppressed by the establishment of major central banks and the bullion banks. Whether this is, in reality, the case or not will obviously be a continuing debate, but it does seem to be odd that given the huge undisputed flows of physical gold from West to East that the gold price has performed so badly over the past few years.

    Sentiment: Buy

  • So far they have been hammered down 20-25% few days ago.

    Even the dumbest investors need to be convinced there is got to be at least 50% upside within a year to take a 20% + risk to the downside.

    SO what did Marrone show them to convince them coming in at $4.4 ish ??

    Was it Chinese flight money from US Treasury bills??
    So far they looked very unsophisticated to say the least.

    Sentiment: Buy

  • Reply to

    Gold up a whopping 1.6%,

    by american_chariot Mar 19, 2015 4:29 PM
    bollingr_band bollingr_band Mar 19, 2015 4:43 PM Flag

    London Fix will officially be gone starting tomorrow.

    China physical gold delivery will play a more significant role in price discovery.

    COMEX however will still play games with paper gold, but for over 100 years, London Fix (5 banks) manipulated gold however suits them.

    COMEX keeping paper gold price down while supporting strong $$ will just do a huge favor for China + India + Russia loading up gold at very suppressed value.

    Sentiment: Strong Buy

  • His latest dissection of the Feds beginning to look spot on.

    Economy is Not Doing Well
    Unemployment data is exagerating the health of the economic recovery.
    The world is devaluating their currency to save their economies, US$ will come crashing down when the equivalent of QE4 is brought forth.
    Oil and commodity price collapse further reflects low world demand and weakness in economies all around.
    Multi national global income will be under duress + pressure when translated back to US$.
    Stock market likely will stay weak for next 2 quarters.

    Yellin and company is trying to paint a ROSY economy but the signs are everywhere- this recovery is going to hit some more major bumps..... put it MILDLY.

  • Reply to

    The Fed....

    by american_chariot Mar 18, 2015 3:25 PM
    bollingr_band bollingr_band Mar 18, 2015 4:25 PM Flag

    The "old" way of relying on this Rothschild Private Federal Reserve Bank to determine what is best for the USA and the "world" economy has changed.

    BRICS are standing up to Rothschild Banks ruling the world.

    BRICS have continue to buy gold while Rothschild banks prop up the US$ at the expense of gold.

    In the scheme of Rothschild's world, the non-western world of rough 5 to 6 billion people (including 3 Billion in BRICS) will be the under class serving the interest of Western Industrialized nations. Hence the shift in 1972 to make a deal with Mao (Kissinger with Tricky #$%$ in tow ) and transferring labor work to China at the expense of American workers and Europeans labor force as well.

    Simultaneously the world went off the gold standard and start the printing press to finance all things Western world.
    Pivot To Asia, should say Pivot To China.
    China's attempt to standup first time in 250 years really is a thorn on the side of Rothschild led USA + UK.
    The perceived Slave Labor is back talking + barking.
    The winner will be BRICS and gold price.

    Sentiment: Strong Buy

  • bollingr_band bollingr_band Mar 18, 2015 2:16 PM Flag

    GoldmanPillage+Sack = GPS for many of us on prospective of Gold, copper, moneytary policies, etc

    Thank you again.

    Sentiment: Strong Buy

  • bollingr_band bollingr_band Mar 18, 2015 11:17 AM Flag

    Very well said.

    I know Chinese are beginning to unload its 1.24 Trillion T Bills in favor of assets such as high end US RE developments. Long term, it is better than gazillions of paper $ without gold behind it.

    Everyone knows the Feds are trying to bubble up assets like stock and R E by keeping interest rate low. But all around the world, the message is Devaluation to prop up economies and create employment reflecting a regressing economy.

    Now US$ is sky rocketing to outer space, who can afford to buy US high value exports.

    When US$ hits apex, it will reflect gravity pull and gold will rise for a long long time.

    Sentiment: Strong Buy

  • While wage growth is coming, inflation is a real problem, she said.

    "They don't need it to be at their 2 percent goal, [Fed Chair] Janet Yellen has said that, but the problem is right now it is moving away from goal."

    Read More This Fed economic indicator looks pretty awful

    The strong dollar will also be a factor, Zentner said.

    In fact, she said that if the central bank were to raise rates now, it would do harm to the U.S. economy.

    "This is a Fed that likes to err on the side of caution. This is a Fed that buys into the asymmetric risk of tightening policy too early. That it's more risky to do that than tighten policy too late, and that it would be a policy mistake if they went early because you just don't know," Zentner said.

    U.S. stock index futures indicated a flat to lower open on Wednesday ahead of the hotly anticipated …
    That said, there are two factions within the Federal Reserve, she noted. One that is willing to put faith in the economic outlook that all of the pieces will fall into place, and the other who wants to see proof in the data.

    Sentiment: Strong Buy

  • Investors are awaiting a signal from the Federal Reserve on Tuesday that the central bank will raise interest rates, but Gloom, Boom & Doom Report editor Marc Faber thinks the Fed will keep them waiting.

    "In my view, the Fed will not increase interest rates this year," he told CNBC's "Squawk Box," pointing to dollar strength and recent disappointing economic data. "The economy simply [is] not taking off, so I don't see there will be an interest rate increase."

    Sentiment: Strong Buy

  • Despite his personal views, Grant believes central bankers won't remove "patient," because of the strong dollar and a weaker underlying economy. "The surprise might be that the Fed reverts to its now very familiar stance of ease."

    He pointed to a rolling forecasting model by the Atlanta Fed for real GDP after the release of major economic numbers. The model estimates a first quarter seasonally adjusted annual growth rate of 0.3 percent.

    It's possible history could vindicate the central bank's extraordinary moves, Grant acknowledged.

    But he said he worries about the precedent that's been set. In the event of a future economic crisis or a bear market in stocks, the Fed would be "duty-bound to re-enter the market just as forcefully as it has done since 2007," he said.

    "The virus of radical monetary policy is in the political bloodstream, meaning we can't go back now," he continued. "They're bound to come back and do more."

    Sentiment: Strong Buy

  • bollingr_band bollingr_band Mar 13, 2015 12:17 PM Flag


  • bollingr_band bollingr_band Mar 13, 2015 11:55 AM Flag

    Always getting the crowd going against "The Manipulated " direction.
    We think cold than he ll = NG usage up.
    They moved a few numbers around and make it a non-event.

    When we give up on the stock, then it will move up Against our Expectation.

    Sentiment: Strong Buy

  • bollingr_band bollingr_band Mar 13, 2015 11:43 AM Flag

    Buying more
    Bring the avg just above $9

    Sentiment: Strong Buy

  • bollingr_band bollingr_band Mar 9, 2015 2:05 PM Flag

    Cost avg in more just now- avg cost about $10
    Still own some AUY

    Sentiment: Strong Buy

  • Took a loss and position for NUGT strong rebound.
    AUY will rebound too along w most miners BUT NUGT % gain will be better IMHO.

    Sentiment: Buy

  • 95% of the people watching news can see weather is coldest on record (many cites coldest in 100 + years on record), the 0.01% that actively controls and trade the NG market look at each other and quickly bet the otherside of the trade- while pulling a few strings to make sure data is confusing and misleading.

    Voila, so the outsiders whom BET on NG inventory consumption was "wrong", the expectation is "disappointing", setting up for next week's upside surprise.

    Always getting the crowd going the wrong way is how the market is manipulated.
    So the crowd sells, the 0.01% insiders are loading up (some call it smart money).

    Sentiment: Strong Buy

  • Reply to

    Goodbye 2014 / Hello 2015

    by bollingr_band Feb 12, 2015 9:56 AM
    bollingr_band bollingr_band Feb 12, 2015 12:25 PM Flag

    thumbs up
    Good luck to all of us in trusting Marrone to deliver cash flow and low costs.
    Happy New Year(s)

    Sentiment: Strong Buy

  • Reply to

    Goodbye 2014 / Hello 2015

    by bollingr_band Feb 12, 2015 9:56 AM
    bollingr_band bollingr_band Feb 12, 2015 11:57 AM Flag

    Investing in AUY is placing your trust on Marrone and his team.
    His 2015 plan seems reasonable and cash flow production positive (he is known to be under promise and under guidance ).

    Most weak hands should be out by now.
    If you have other bets that you can pick then by all means do whats best in your judgement.
    I am betting AUY will have a prosperous 2015.
    I am thinking US$ is way over printed + circulated and forced upon the world to hold as reserve currency... hence you see rebellion from the masses in BRICS.
    Gold will be the real currency the world will trust BUT London Fix is still in charge until someday physical delivery will rule the day of price discovery..... long ways off.

    Gold price will rise into years to come because of turmoils and conflicts, BRICS + Europe gold hording, and eventual weakening of US$.
    AUY is well positioned to harvest gold at a very low industry cost = profitable and cash flow.

    Not much else to say- Have a good week.

    Sentiment: Strong Buy

  • bollingr_band by bollingr_band Feb 12, 2015 9:56 AM Flag

    * Marrone threw all the bad news into 2014, swallowed that bitter pill
    * 2015 is full of positives
    New mining activities
    Improved All In Costs ( hard to pick out the right number but all metrics seems lower than 2014)
    New $250M investors bought in $4.4 (or is it $4.24 after Canadian devaluation)
    Separation of core vs non-core assets.
    Marrone promised cash flow positive productions in 2015.

    The reports were long and hard to decipher, many are waiting for guidance from "analysts" LOL

    Just load up for 2015 especially they are giving them away at half of book value and under $4.


    Sentiment: Strong Buy

  • Reply to

    Fear= Time To Buy

    by bollingr_band Feb 11, 2015 10:28 AM
    bollingr_band bollingr_band Feb 11, 2015 10:58 AM Flag

    Yeah 924,000 shares pushed the price up to $3.97
    Someone thought it was a good deal.

    I have a feeling Marrone will not make this earnings rport very sexy.
    Marrone is kind of a sour grape kind of CEO- never wants to reward shareholders for trusting him and his management.

    I think we are stuck in this Marrone trading range of $3.8 - $4.8 (Uner $4 is a good buy in point)

    Having said all that, I think 2015 will be a good year for AUY, just not sure about Marrone's constant pulling the rug from underneath us.

    Sentiment: Strong Buy

11.290.00(0.00%)Mar 27 4:00 PMEDT