Avacta (AVCT) reported this morning. The finances are not remarkable and are purely historic. However, all seems to be going very well and the share price will move according to sentiment. This looks pretty favourable to me.
The assertions of fact that I here lay out on gold have been honourably vouchsafed to me but I have no means of checking them. If anybody wishes to correct me I am immediately available.
However, there is a massive long position in June gold which might reasonably be expected to liquidate as the make up day approaches. Only this time an appreciable number of holders will seek to take delivery of gold. This could see the price through $2,000 in hours.
If you doubt this proposition you may be interested to know that currently the price of physical gold at Sharps Pixley is c. $1,850. This bears no resemblance to the current futures prices.
And as for the $3tn borrowings by the US government where there is very little prospect of such being repaid, I think I would rather hold gold – wouldn’t you?
Poor old Professor Ferguson. What his private love life has to do with his work on the pandemic I have no idea. It looks as if prurience has triumphed.