Buy at R20 or below, initial target is R24.50 and longer term target is R50.00.
'Why I think these gold shares could make 2019 the most profitable year of your life...'
Why these gold stocks could make 2019 the most profitable year of your life
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Gold Play # 1
Gold’s $100 dollar rally could make you a 94.4% return this year!
Gold Play # 2
This SA Producer’s Gold Windfall is about to Pay Off Big Time – Get in Now!
Gold Play # 3
How to make bags full of money as miners scramble for new reserves
Gold Play # 4
The key to unlocking a 50% increase in share price for this company lies on page 9 of its most recent results!
Rand Rallies further expected USA interest rate cut
The Rand has staged a stellar rally. Strengthening from above R15 against the USD to below R13.90. It came within half a cent of our R13.8550 target against the USD but the price is consolidating. It’s time to bank our profits after a 6.24% gain, with gearing your gain could have been more than ten times larger.
Trading the other way and going long the USD against the ZAR has good risk to reward metrics. With Thursday’s expected rate cut we should see some ZAR weakness. A reduction in interest rates is generally negative for a currency.
If we also get some negative earnings, investor sentiment might wane considering slowdown fears, this will see a risk off trade affecting the ZAR. American earnings season unofficially kicks off with the major US banks this week.
Look at the chart below and see how the USD/ZAR pair is consolidating around the R13.90 level. R13.90 is a strong support level. The R13.60 level (indicated with the green line) is the upper resistance level that we will be targeting on our long trade.
Go long on the USD/ZAR at R13.90, stop loss is a daily close below R13.80 with a target of R14.55.
New Round of Structured Products Launched
We have just received the latest terms for a couple structured products launched yesterday and have compiled a summary.
These products provide 100% capital guarantees with minimum returns of up to 25% even if the market is negative over the investment period. Minimum investment is R250,000.
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The week ahead:
• Local: Manufacturing: Retail trade sales (17/07); SARB rates decision (18/07)
• Results Due: SBV (19/07)
• LDT: AFH, AFH, DTA, IBRP1, LEW, NCS, PMV (16/07)
• Special/Share Premium Dividend (16/07): STX40, STXDIV, STXFIN
Other Economic data releases of interest…
• Monday: Empire State Manufacturing Index (USD); CPI (NZL); Monetary Policy Meeting Minutes (AUS)
• Tuesday: FOMC Member Bowman & Evans Speaks, Core Retail Sales, Fed Chair Powell Speaks (USA); Average Earnings Index (UK); German ZEW Economic Sentiment (EU)
• Wednesday: Building Permits (USA); CPI (UK); CPI, Manufacturing Sales (CAN); Unemployment Rate (AUS)
• Thursday: Retail Sales (UK); Philly Fed Manufacturing Index, FOMC Member Williams Speaks (USA)
• Friday: FOMC Member Rosengren Speaks & Bullard (USA); Public Sector Net Borrowing (UK); Core Retail Sales (CAN)
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