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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Gold Prices going up, impact on banking stocks

Gold Prices going up, impact on banking stocks

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malanp


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Gold prices going up again, today $1328 in NY market.
For last 21 days $128 up, from the bottom of $1200 on 27 June.
within few weeks it will reach $1400

Biggest beneficiaries SAMP and LFIN

chat1028


Stock Analytic
Stock Analytic
Yes. Sampath bank share price would move from tomorrow onwards

Gold Prices going up, impact on banking stocks Gold-h1-admiral-markets-ltd?bind=1

mark

mark
Expert
Expert
bear trap

dhanurrox


Vice President - Equity Analytics
Vice President - Equity Analytics
Strong reason for bears vanishing with this.

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Kitco expects 1420 about 100$ appreciation.

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sure.
most of the banks anf NBFI stock will puck up today.

like
SAMP
PABC
LFIN
VFIN
ALLI
CDB
CRL

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Gold prices saw their biggest one-day gain in more than a year Monday after the U.S. Federal Reserve said last week it will continue to provide economic stimulus if needed.

The gold sector regained some lost ground, as the component rose about six per cent. The S&P/TSX composite index gained 73.25 points to 12,758.38 on top of four straight weeks of gains as traders also looked towards a busy earnings week for Canadian corporations

August bullion increased by $43.10 US to $1,336 US an ounce. That put it above $1,300 for first time in a month, and was the biggest one-day gain since June 2012.

hunter

hunter
Moderator
Moderator
@mark wrote:bear trap

me too!!

Backstage

Backstage
Moderator
Moderator
@hunter wrote:
@mark wrote:bear trap

me too!!

Me too !!! Its gonna be pucked up Wink 

malanp


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Gold trading now $ 1342 in NY market, within two weeks it will hit 1400.

with new tax and exchange rate devaluation, we should add another 14% to see if banks want to make any provisions for gold loss.

1342+10%+4%= $1529
1400+10%+4%=1596

So Sri lankan banks are on safer side now since gold was traded $1500-1600 before the slump.

Backstage

Backstage
Moderator
Moderator
"So Sri lankan banks are on safer side now since gold was traded $1500-1600 before the slump."

I hope so too, though I don't think so. Even if it gets worse , I think the banks will weather it, but there will be a few flat or negative quarters up ahead. A couple of banks may do well.( please note amateur opinion)

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