Chorlton

5 hours ago, Wonger said:

No restrictions either Gold spot trades below $500 by the end of 2021 or it does not, its quite simple with no restrictions needed!

If you were really confident you would say for a whole day as you were predicting below $400 before , easy !

1 hour ago, Wonger said:

Takes both sides to make a market and I think its about to fall off a cliff 😉

Have you got anything else you predict will collapse to about 20% of their current Market value 😉

Since your March price prediction of gold to £400 it has had double digit growth. Any more predictions would be appreciated 🤠

3 minutes ago, Prophecy said:

So whenever Wongy turns up in the forum, it's a good time to buy on the dip.

Don't give it away I was making a fortune based on that graph, now you have made it public 😢

50 minutes ago, Wonger said:

If you read the thread ive explained in detail exactly why I think Gold will drop to $385 and in what time frame, this is for all to see 😁 

Go on give us the exact dates for Just this once 😁

6 hours ago, Wonger said:

Did you honestly think the bears had gone into hibernation? That $40 drop will become a $400 drop very soon indeed and now today you can hear a pin drop on this thread after two days of loud music, keep watching!😁  

You forgot again to say exactly when it will drop to $400, anyone following your advice from March would have lost a fortune by now 🤫.

I’ve been shorting gold at £400 for months now, when do I get my big pay out ?

As the level of risk in other investments recedes this was always going to happen to some extent as the haven premium for gold reduces. There is likely be continued volatility while this settles and if any other shocks / influences become apparent. Also there will the normal impact of currency movements depending on which you use.

As requested by Wonger I have been shorting gold since March and lost a fortune as it never hit the predicted $400 😭

2 minutes ago, TheApe said:

While I agree with a lot of what you say. I question the logic of anyone who keeps all their wealth in pm. But thats probably a whole other thread so wont get into that.

The trick is to have a variety of assets in different forms which fit the aims you are trying achieve. Even gold and silver are different in some ways. Having all your eggs in one basket is more like gambling.

2 hours ago, Bxlsteve said:

If I am correct he already stated his theory multiple times (we might not agree but he did this several times) and stated a timeframe of 2 years (Continuous slow crash) to arrive to this 400. 
 

so take out the popcorn, wait and watch the movie. 

He has but always avoids giving any accurate indication of time Etc. It’s a bit like me continually proclaiming there will be an economic recovery but not stating when and how. At some point my vague “prediction” will be right if made repeatedly and also due to it being so vague.

22 minutes ago, Paul said:

no last min bidding frenzy - £1400 hammer price 

Does anyone think these constant consistent higher prices in the 2oz silver coins, will have positive on effect on the 2oz gold coin's value  ?

{just asking for a friend} 

In this case it seems the silver coin stands on its own merits but time will tell.

Thinking about it logically if anyone had been shorting gold down to $400 since March each realised trade would mean you lose up to about 70%. Using any form of leveraged trade would mean you have now gone into hiding due to the huge loses.

Assuming you didn't it is likely as things recover other investment opportunities will increasingly take the place of gold and remove that part of the demand for it and other similar assets.

Do we still have the gold standard now then 😇 ?

10 minutes ago, Wonger said:

Commercials are net short 278000 futures contracts, ive explained previously the likely outcome and that I am short with a target price of $400! 

To date you must have lost a fortune continually shorting gold at $400 !

8 minutes ago, Wonger said:

Well I bought June WTI at $8 and thats below production cost!

Buying gold at well below production cost when it is Easy to store and there is high demand for it is good going. Could you give your suppliers details !

4 minutes ago, Blehhhh said:

Not necessarily, dont state facts that arent facts.

What are the facts that are facts ?

2 minutes ago, Safestacker said:

After the virus it’s gonna crash for sure ? 

Assuming supplies free up and things settle down then premiums and price would fall. When and how this happens is anyones guess. 

9 minutes ago, BackyardBullion said:

There are a lot of interesting "theories" on face value and gold content. Personally I don't ever want an awkward conversation about declarations where they have the ability to fine or confiscate my gold/silver on the basis of a technicality. Especially when there wouldn't be any taxes due on it!

That would be exactly my approach as well. Most customs people are stunned if you declare something and ask them to have a look.

Rather than the, oh that 40kg of gold I forgot all about it !

Very informative post, I had forgotten to consider cross border EU VAT rates.

58 minutes ago, Wonger said:

275,000 net commercial futures shorts wont worry too much!

Based on this and your previous comment on what date do you expect this to take effect and what is a rough range for the gold price then ?