silversky

Is she cute or something?

Markets open already. Price is rising!!!

Thanks guys. The chards page looks handy with spot gold sov quoted. Can't believe its 444. Mindboggling

What is your method for checking spot?

I actually really liked the design of Britannia on that coin and wanted one. I just didn't like the price for a non circulating coin pretending to have £50 value when it didn't because its uncirculating.

Little drop into the close but still way above the trading zone from before. £1890.

I'm out of laugh reactions for the day

Absolutely, so would I. Remember what they did in December at the weekend in thin trading? It was smashed up nearly 100 bucks in a couple of hours and wiped out whole loads of small traders who were short before tumbling back down again and wiping out the longs who had entered automatically while they were asleep after their buy orders were triggered. That was a coordinated attack on the stops and limit orders. And once it was off it became a self fulfilling cascade. Right now, we know there are a lot of shorts, and good sense indicates that gold should fall with rate expectations indicating much later for any rate cut. But it's not happenong and that is when lots of people get caught on the wrong side. There will be many holding early shorts who think it's gone up for so long now that they should just hold their loss a tiny little bit longer and hope for an eventual downturn to escape. That's when even bigger spikes happen. If it does a big rise it'll fall hard again after that. It always does.

I absolutely would not buy here. Sit back and watch the fireworks if they happen. It's on a knife edge IMHO

There's plenty rocket fuel lurking here. The small speculators are net short.... And they will have buy stops to cover their short losses right here around the ATH. Another few bucks and It's wipeout time for them or swim naked without a stop!!!

£1887 and climbing....

Looks like the US price is moving up into the stops zone...

Yeah what's your only fans page?

This'll be in the mainstream news again if it powers through ATH in usd. So far its turned back down a couple of bucks

USA now 20cents off ATH.... All those stops are in jeopardy now...

£1882.75 the high now. Seems relentless.

Monitoring with beers.... just to make a change from the daytime monitoring.

Wait and do nothing. When this tops it's going to whiplash back down at first. Only after that would I consider buying if it seemed settled again without big downside risk. And maybe Silver if I was in the USA... Much ore upside still to play for there.

The chart in USD is just smashing it's way up. If I were short I'd be bricking it right now. If it gets up above the all time high, the stops are all going to get taken out and fuel another boost upwards. After the news yesterday, all the shorts will be with stops just outside the ATH. Dangerous..... Crazy action in such a big liquid market during fully open trading hours.

It's 2360 its got to break. Then up to the ATH from a few days ago to test all those short stops. Must be absolutely bucket loads of them judging by the IG data which says that small specs are short. Massive pain for the little traders if it smashes through ATH stopping them all out. Mr Market exists to disappoint most people. It's very rare that the little guys all get it right.

You're requesting the Shanghai hoover to clear out TSF? The entire forum probably makes up less than a minute's worth of annual purchasing for them!

It's interesting to hear all this we will, we wont, we will, we wont, be cutting rates three months from now etc. It's all so reminiscent of the QE taper talk a few years back. Such complete fakery where good economic news was bad news because it might jeopardise fed handouts. It's all such nonsense.

It's a big test, if gold takes the rates news / hints yesterday, and spits in the FOMC's face and rises anyway vs the USD, its going to be a clear sign of decouple from the inverse relationship with USD. That really will be different. But who knows... maybe Mr Market is just teasing us and will turn back at the ATH for a much needed break. The last 5 weeks really have been interesting to witness the decouple.

Market in USD is now 10$ off another new ATH UK touched 1878 already. 1900 today if the US sneaks up to test ATH...

Price in USD now back above the fed announcement price. If that accelerates back to the top in USD then we're through 1900 in a heartbeat. Fed happened around the 12:00 mark in the middle of the USD graph below. Gaining pace in USD now hence the GBP push to new highs. £1874 now