silversky

The interesting thing about the way this is described, is that the 8-1 voting ratio is 8 for no change and 1 for a cut.  But.... the 6-3 split as it's described last month, would better be represented as 2-6-1.   That's because it actually represented  2 votes for a rise!!! 6 for unchanged and 1 for a cut.  Calling it 6-3 made it sound to the casual observer like we were much closer to a cut, when in fact they hadn't even become properly neutral yet.

Sneaky messaging really.  It was all about delaying any cuts for as long as possible and hoping that expectation can hold things together for as long as possible.  The cuts will come in advance of the General Election.  The ruling elites wish to appear that they are good at this economy thing... so it will be given the shot in the arm about 4-5 months before the GE to try to boost things a bit and add a thin veneer of competency to the incumbent crooks.

2 hours ago, Paul said:

ChatGPT did the bulk of my advanced gold research 

I stopped reading it as soon as I recognised the smell of Chatgpt.  But I recognise that it's like a parody on the negativity surrounding gold in certain circles.  But it could equally serve as a parody on the fallibility of chatGPT.  It can sound persuasively authoritative, while being totally and completely wrong...  

So I'm hearing that savings rates have actually turned positive now in real terms after inflation, for the first time in some teenagers' whole lives...

Will this dampen the urge for god's zero yielding bond?  Or is there still too much to go bad again just around the corner?

I'm strongly ambivalent, but it's interesting to see gold just steadily pushing its way upwards.  I didn't think I'd be seeing £1738 this week.  Where will it end?  Perhaps this melt up is set to continue...  Must be devastating the shorts, no real pullbacks to escape into.

53 minutes ago, ZRPMs said:

Too be fair, I have had quite a few pies. So might not be attainable. But thanks for the info

Yeah but that's why the monopoly guy is rich.  He keeps his own weight in Silver!!  When it moons to a 30:1 gold/silver ratio, and gold pushes up to £3000 an ounce, Silver will be up at £100 an ounce.  A moderate male weighs approx. 80kg or 2572 troy ounces.  Times that by £100 per ounce and it comes out at a cool quarter million.  Enough to pay off a small flat and free a man from paying a mortgage just to have somewhere to sleep.  But if the gold silver ratio collapsed to 15:1  as some believe it might in a serious financial crisis, then that would mean £200 an ounce of Silver and a cool half mil.  Enough to pay for a moderate sized family home.  But for pie eating chunkers who weigh closer to 120kg or 3858 ounces, that takes it all the way to a sweet three quarters of a million pounds, which is enough to pay off that oversized house he bought when measuring peacocks with the guys in the bank.

Of course, this all relies on Silver continuing to be viewed as precious rather than crypto or the like, and that gold doubles from here, which it will more than likely do in any real financial crisis.

100kgs will certainly see some life changing results when the big day comes again for silver.  And the way things look, it will come, it's just how many decades do we have to wait in the meantime?

55 minutes ago, ZRPMs said:

Starting to think it's too much of an industrial metal to be allowed to go too high. I do like it but only in lumps of a kilo or a bit more. My other thought is how much do you need to make it worth it just in case it moon shots?

Your own weight in kilos is a good start.

Quiet in here...  Just touched 19...

3 hours ago, AuricGoldfinger said:

Currently trying to work out how much gold i WOULD have if i had never sold a singe gram. Ahh regrets regrets

Nothing wrong with selling a bit if you need to purchase real world things, it's just money after all.  Just don't forget to buy it back for the long run...

1 hour ago, cliveb13 said:

@BLOOMMAN101 

that looks like an active screen I haxe seen day traders using ? Can I ask are you trading or watching ? 
also the green interspersed w red. What do the red bars signify ? Falling prices ? 
thank you for the very much real-time graphs 

clive 

Clive, here is a link to some trading view charts embedded on a dealers webpage.  You can manipulate them and select different candle durations as well as play with a number of indicators such as moving averages and Fibonacci retracements etc.  The trading view charts are a good representation of the live spot price with bid and ask prices being displayed as well.

https://vongreyerz.gold/why-gold#gold-charts

So we've bounced off ATH today.  We've approached the crazy weekend spike from back in December, but this time at a slightly more measured pace over a number of trading days.  USD high 21.46.56 today 2141.86.  GBP high 1688.16 today 1687.62   The Euro is similar with it just exceeding the ATH in Euros.

It's beginning to look like the zone between £1650 and £1630 represents two strong support lines for any retracements in the future, and good entry points after a retracement from higher up than here.  I can see this having a pop at some blue sky in USD, before retracing to set up a new floor over the next month or two.

4 minutes ago, MBTPSilver said:

If we pass $2,100 (which seems likely) then I would expect some more buyers to pile in and keep the momentum up. We could hit some resistance though.

Yeah probably push all the way to 2200 before any new shorts start to get adventurous.  Its above ATH in a lot of currencies.  Only the spike weekend to go in Dollars...  Currently above any close in GBP

3 hours ago, theman73 said:

So there is no more supply and demand economy just hedging the bets aka making money from nothing. Noice.

Are you looking for the 2017 20th Anniversary limited edition?  It's like the normal 2017 but with a trident mark in the field next to the B in Britannia.  

Any update?

The 4 hour chart shows that we are close to the same level as the Friday night before the chaos weekend at the start of December.  We have closed above that, so this setup could be another repeat on Sunday!!!   But I kind of doubt that they'll manage to pull off a repeat of that crazy stunt though.

1 hour ago, LightningSilver said:

I think people need to stop looking at daily charts. Price was below £1500 just 3-4 months ago!

But what would people do on the Gold monitoring thread if they didn't look at charts and discuss the minutiae of little highs and little lows?  A prohibition on charts, would run the very real risk of a complete topic meltdown, and the re-emergence of everyone's love to hate subject...  the TV licence...   Before long the thread would be renamed the official unnofficial tv licence thread and poor gold monitoring in GBP would be confined to the dustbin of history.

Far safer to stick with the charts and furtive little snapshot monitoring remarks such as this one.  Gold £1586  😉👌

4 hours ago, iggypop said:

Gave my daughters couple of sovs for their 18th one sold hers recently on 2 occasions sold to local shop Spot on the money👌some others where awful quotes. Recently tried to sell a 1oz coin of my own locally best offers £1200 ☹️ 
had last laugh with heads up from some posters on here got a great deal from a chap in Germany we where both happy 😃 winner winner. 

Glad to hear that the Santa Maria worked out well for you with the German dealers.  Pretty cheeky of your local shop to be offering 75% of melt value for a legal tender coin with only 100 mintage.  Absolutely insane.

Any reason for the white PMs leading the charge today?  I suppose Silver has lagged gold for quite some time, so maybe its just about being its turn.

Gold has reacted by less than a £  

Looks like a slightly weak close to me coming up.  Maybe another little drop is inbound next week

3 minutes ago, Petra said:

Anyone want to join the www111 thread? Covid thread? Start a new thread…..🤔😮

Perhaps a current occupier thread? 

8 minutes ago, Richard82 said:

your "western values " when it suits them.

I'm assuming that you're not "western" and that you don't subscribe to quotes "western values".  Which values do you subscribe to out of interest?  Other than gold of course which we're all keeping a keen eye on in this thread of course.

21 minutes ago, Brit2023 said:

If the meltdown comes you will need Beans, seeds and hunting equipment?, there will be plenty of fur and feather out there to eat whilst your newly planted vegetables grow. the only use for gold will be foil for baking.

In the above shtf example, gold is only useful for your children.  It's for long after "the disaster", when new governance and monetary accounting starts to establish again.  It time travels wealth.  Land is important, but land is riskier under certain circumstances.  It's easier to confiscate because it's not exactly mobile.  Gold on the other hand can easily be hidden in amounts that denominate serious future wealth, with the intention of one day recovering it for your children.  We keep finding little stashes from different eras where that game has been played.  Just imagine how many anonymous stories have gone untold, of familial gold recovered by children, and quietly used to buy land or influence.  Gold is the ultimate insurance policy.

Gold's other purpose is to keep the accounting of all fiat honest.  By holding in Gold, one is no longer dragged backwards through fiat devaluation, but the same can be said of many limited quantity resources such as land.  You don't get rich in gold, society just gets poorer around you.

Gold bounced off the big $2000 mark, £1582 double bottom from the 12th.  Is the dip over?  Or is a real £100 dip to come?  I'm pretty neutral on it at the moment.