HonestMoneyGoldSilver

I like your graphs at least they show information and patterns, not just an abstract number that has zero meaning by itself True but by the time you copy and paste from BBP the price will have changed (it changes every second or minute depending on the interval used by the dealers) I don't mind at all if people want to post the price but there's no need to post it every 5 minutes for weeks on end. Sometimes people are posting and showing +/- 0.01% moves, like who even cares? As a trader you might worry about intra-day pricing but as a stacker the only numbers that matter are the closes, with the longer timescale closes being more important - i.e. 1 year close > 1/4 close > month close > weekly close > daily close

Who are these serpents? My prediction for gold close today is £1857, let's see how stupid I look in 11 hours' time ...

You don't need my permission to post but you've made 700+ posts ITT talking about everything from onion soup to psychopaths and colonoscopies along with inane numbers, while not adding anything to the discussion about gold price action. There are pages and pages of you talking about your favourite subject - YOU - not gold Making comments like, "I'm a net negative", and telling everyone you will block them if they don't block me, is more than a little gay. If you stop shoving things up your rear end you might have less need for colonoscopies. Just my 2 cents and still more relevant to gold price action than any of your posts 👍🤷‍♂️. FWIW the gold price changes 86,400 times a day

Better than looking at some muppet post the gold price 730 times. This thread is to discuss gold price action, not just the current price but what is it going to do next? There's a ticker at the top of the page for ffffs

That's a beautiful set and one I would be happy to keep

Metals woke up to some morning glory this bank holiday, they must have been reading the WWIII thread or maybe the NBS! Gold is up 0.7% but S***** is up 2.4% Both are threatening to re-take their highs of last week (£1867 and £21.84) although things don't really get interesting until we go north of $2400 ($2427/£1927) Looks like $2300 is the new floor though, hopefully we keep that all summer in preparation for the moon shot around Christmas

There's so much packed support and resistance around the current price level that I can't see it doing a whole lot. One way to prove yourself a fool is to make predictions but I think this week gold trades between $2270 - 2340 (£1811 - 1864)

Hard to believe the clown above, sorry, the Chair of the Council of Economic Advisors, got that job in the first place. He's equally as clueless as Brandon The US government can and does lend money to itself by buying its own bonds, both the Treasury and Fed are currently doing this or have done so in the recent past. Japanification The Japanese rely on this process to function as regular investors have gradually lost faith in the Yen. In 2013 the BoJ was holding around 11% of the total government debt. Fast forward 10 years and the BoJ now owns 53% of government debt after going on a $6.7 trillion (1 quadrillion Yen) spending spree. BOJ bought over ¥1 quadrillion in bonds in decade of easing policy - The Japan Times Yep, after trillions comes quadrillions And that is why the Yen has lost 13.7% vs the USD and 27.6% vs XAU (Gold) over the last year If you're wondering what that dip is at the end of the chart in May 2024, that's what happens when Auntie Janet and Uncle Ueda conspire to manipulate markets. Do we think any insiders might have made money from that foresight? Anyway, not to steal @Petra's catchphrase but "keep buying". This is the fate that awaits the Euro, GBP and after all the dominoes have fallen, the USD itself

@Upsidedown would like 2ozs ...

Looks like the seasonal summer dip will be a thing this year unless: 1) The Chinese reverse their increased margin restrictions on the shiffy (SHFE) 2) European central banks start buying gold 3) Someone breaks out the AK47s I'm tempted to stop buying metals until August but I've bought a few things this week and will most likely continue to DCA but dial it back a bit until the end of summer

As for our golden friend, it would be very useful if gold closed the week above £1833.50/$2300 There's a lot of support around this live price level ($2295/£1829) but if we close below $2270/£1808 that would be a negative

Markets are stupid but the CME has known cuts would be deferred for a while now. At the end of 2023 and start of 2024 traders were expecting a cut on the 1st May. Every man and his dog was predicting the Fed would cut at least twice before the US election. The penultimate action saw those expectations deferred to November as the soonest month with a better than 60% chance of a rate cut. The latest based on the news today is that the cuts will start in September due to the loosening of the job market and major corporations (like McDonald's) saying they can see the consumer slowdown amongst the lower and middle classes in their sales data. The joint mandate of the Fed is to keep inflation in range but also to strive for full employment (price stability and maximum employment) CME FedWatch Tool - CME Group

Brand new or "virgin" silver attracts 20% VAT whereas investment gold is VAT-exempt The cost of manufacturing a silver coin is much higher as a % of the value of the coin than with gold * American Silver Eagles cost $2.50 to make and the coin costs $26.70 + this premium or + 9.4% * American Gold Eagles cost $60 to make and the coin costs $2307 + this premium or + 2.6%

https://www.telegraph.co.uk/business/2024/05/02/gordon-brown-decision-to-sell-britain-gold-disastrous/ Hmm, western media telling their central banks to stack gold? The media recognising the value of gold and that rates will be as persistent as inflation?Whatever next?

Privet i dobro pozhalovat'!

Hard to keep your powder dry when the buy/sell exists! It is a good point though. If there is a dip in metals (this is not a dip, just volatility), then August-September might be a good time to have deep pockets and buy gold. I bought gold at that time last year and it worked out perfectly. I don't see a big dip in metals though as markets should have already priced in the Fed rate cuts, or lack thereof. According to the CME traders have priced in no cuts until November. The same thing happened a few months ago and people panicked when gold dipped, then it shot up almost 20%!! I like to be bullish when most people are pessimistic

Cheap sats available mate ... sorry, couldn't resist 😁 As for gold, wow, testing the supports as we speak around £1834/$2300 If $2300 goes, not to alarm anybody, the next stop is $2231 (1 month low) which is around £1780 ish. I think (hope) we bounce here, time will tell There's a big sell-off happening today across just about everything. It's unusual for the S&P, NASDAQ, DOW, FTSE, DAX, CAC, MSCI Emerging, MSCI China, crypto, metals and oil to all be down in the same session. This is most definitely a sea of red: The only thing that's up today is the Japanese market (TOPIX/Nikkei 225) which is due to the carry trade and the ongoing destruction of the Yen (an orchestrated scam), along with bonds (USA/UK Treasuries/Gilts)

I can give you some basics but there are much better coin experts on TSF than me: 1) A sovereign is 7.998 grams of 91.7% gold (22 Karat), or an AGW (Actual Gold Weight) equivalent of 7.322g fine gold (999/9999 gold or 24 Karat). A sovereign = £1 2) A double sovereign is like the name suggests - double the gold weight of a regular sovereign and = £2 3) A modern Britannia coin is 99.99% gold (24 Karat). The AGW (Actual Gold Weight) is equivalent to the weight of the coin - e.g. a 1oz Britannia is 1oz of fine gold 4) Those are Troy Ounces (31.1035g) not metric ounces (28.35g) 5) The design can make a difference to the premium although premiums are generally more closely tied to scarcity than the subjective beauty of the design 6) For investment stacking you don't need to consider the design you should concentrate on AGW (Actual Gold Weight) and low premiums 7) In the UK an important component of stacking gold is CGT-exempt coins. CGT = Capital Gains Tax. Any coin produced by the Royal Mint that has a face value (£1, £2, £100, etc) is CGT-exempt. This means you can buy and sell an unlimited amount of these coins without having to declare your profit to HMRC - i.e. these coins are completely tax free, no taxable events take place when buying/selling as a private individual 8 ) Other gold coins like world gold and some coins produced by the Royal Mint may not be CGT-exempt, so taxes might be due on realised profits above the CGT threshold (currently £3000/tax year). There is a whole library on the HMRC website detailing which coins are and are not CGT-exempt. The simple rule is as above - sovereigns are CGT-exempt as is any coin with a face value. Note that gold bars, even Britannia gold bars produced by the Royal Mint, are not CGT-exempt 9) For pure investment purposes you want the lowest premium coins that are still highly liquid, CGT-exempt and recognised globally. By those 4 metrics the single best coin to stack is arguably the sovereign and the half-sovereign (half the AGW of a sovereign). Any other CGT-exempt coin like the Britannia is just as good as a sovereign if you can get a similar size at the same premium, however, the premium for the closest equivalent AGW Britannia (1/4 oz) tends to be slightly higher than the premium on sovereigns, but not always 10) In short for simplicity you want to stack sovereigns and 1/4oz Britannias. If you have a slightly larger budget then buying 1oz Britannias (or any other CGT-exempt coin) is a good option. The premiums on 1oz coins are slightly lower but the trade-off is it's harder to sell a 1oz gold coin than a 1/4oz gold coin or 1/10oz gold coin. The smaller the coin the more liquid (easy to sell) the coin becomes. For this reason the smaller coins (half-sovereigns, 1/10th ounce, 1/20th ounce) are becoming more popular as the price of gold increases 11) There are all sorts of pros and cons with regards collectible gold like "shield" sovereigns, scarce coins, world and historic gold, etc. Before buying these you should do your own research. It's possible that some collectible (numismatic) coins will end up as better investments than bullion (best value) coins but you need to understand the market before paying extra premiums for collectible or world gold coins 12) The same rules about CGT-exemption also apply to silver - i.e. silver coins produced by the Royal Mint with a face value (£2, £5, £10, etc) are CGT-exempt. For this reason most silver stackers in the UK have Britannias and other CGT-exempt coins as the cornerstone of their silver stack. The CGT thing is less of a problem with silver though. Feel free to buy some world silver coins like Perth Mint, Germania, KOMSCO, etc. The coins from those mints tend to be higher quality than modern Royal Mint silver coins and so keep their premiums better than Royal Mint coins - i.e. better for resale if/when the time comes to sell 13) Remember that investment gold is VAT-exempt in the UK whereas silver is not VAT-exempt. By default this makes gold a better investment choice in the UK than silver. Having said that you won't be paying VAT on silver on TSF, so buying silver here on The Silver Forum can be very attractive