5huggy

Not much point In sterling notes as toilet paper, plastic doesn't clean very well it just smears 

Who mentioned gold as an actual circulating currency?
When a fiat currency collapses it's value tends to zero - the 1932 £1 was a sovereign. i see sovereigns changing hands for £300+ now. So the modern £1 is one three hundredth of the 1932 £1. These would have appeared ridiculous numbers but they are reality now. The pace of that change has been accelerating - the last time i put this to you it was about one two hundredth and fortieth.
There will be gold backed crypto currency systems. The gold will be vaulted and the crypto coins will circulate. This is what will happen over the next few years. 
No point putting forward arguments about gold and silver coins in circulation - i haven't seen members here proposing that is no point creating a straw man to knock down.

@sixgun i'm pretty sure you will like this!
BERT WERT DUZ AYE NO!
Who smashed gold yesterday afternoon? Let's 'round up the usual suspects'
 
Dear Friend of GATA and Gold:
Somebody seems to have dumped a lot of gold derivatives on the market this afternoon, and Zero Hedge estimates it at $3 billion worth and attributes it to the Bank for International Settlements:
https://www.zerohedge.com/commodities/gold-suddenly-hammered-multi-billi...
There may not yet be any public evidence tying this particular attack to the BIS, but whoever did it plainly meant to drive the price down rather than to take profits on a long position, since you don't take profits by driving the price down all at once but by selling gradually enough not to crash the price.
And the BIS can't help being one of "the usual suspects" given its many acknowledged interventions throughout history.
 
For example, in 2005 William R. White, the director of the BIS monetary and economic department, told a BIS conference in Basel, Switzerland, that a primary purpose of international central bank cooperation is "the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful":
http://www.gata.org/node/4279
The BIS actually advertises to potential central bank members that its services include secret interventions in the gold market. Here's a PowerPoint presentation the bank made to prospective central bank members at BIS headquarters in June 2008:
http://www.gata.org/node/11012
Indeed, according to its 2013 annual report, the BIS functions largely as a gold banking and gold market intervention service for its member central banks. On Page 110 of that report the BIS says: "The bank transacts foreign exchange and gold on behalf of its customers, thereby providing access to a large liquidity base in the context of, for example, regular rebalancing of reserve portfolios or major changes in reserve currency allocations. The foreign exchange services of the bank encompass spot transactions in major currencies and Special Drawing Rights (SDR) as well as swaps, outright forwards, options, and dual currency deposits (DCDs). In addition, the bank provides gold services such as buying and selling, sight accounts, fixed-term deposits, earmarked accounts, upgrading and refining, and location exchanges." See:
http://www.gata.org/node/12717
Secret gold market interventions by the BIS have been going on for a long time. A long article in Harper's magazine in 1983, based on a seemingly unprecedented interview with BIS officials, disclosed that the BIS was constantly intervening in the gold market in secret:
http://www.gata.org/node/8773
GATA consultant Robert Lambourne, probably the only student of the BIS outside central banking itself, documents the bank's monthly interventions in the gold market by interpreting the footnotes in the bank's monthly report. Lambourne's most recent dispatch, analyzing the bank's monthly report issued January 31, disclosed that the bank's interventions in the gold market had reached their highest point in nearly a year:
http://gata.org/node/19824
Three years ago GATA asked the BIS to explain its interventions in the gold market -- their underlying objectives and their real parties in interest. Of course the bank refused to account for itself:
http://www.gata.org/node/17793
But the BIS doesn't necessarily rig markets for its own advantage. Rather it acts for its members, which include most central banks, to which the BIS gives cover for market interventions.
It would be nice if mainstream financial news organizations made even a nominal effort to preserve their professional dignity by asking the BIS to account for and explain its interventions and by reporting that the bank won't explain.
But maybe such journalism is no longer necessary. For can there by anyone who follows the gold market who doesn't know by now where the out-of-the-blue smashdowns in the monetary metals come from?
And can anyone who follows the gold market not have noticed that these smashdowns have been losing effect since last June?
Really, if people who follow the gold market can't figure out the purpose and general origin of today's attack and can't understand that an attack this brazen signifies profound weakness and possibly depletion of the real metal central banks are prepared to lose to defend their currencies against the once and future international reserve currency -- well, any such people should apply for jobs at the Financial Times or Kitco.com.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
 
 

If it makes you feel better @vand - im having a "BELTER" week (in 2 days ) and can only see MORE!! - so I agree with ya !
Some peeps will ALWAYS SELL into a slightest RALLY! (Then regret it!)

Christ, HTFU already, some you so-called stackers!
Yeah its run into resistance and getting sold off. Big deal. This was always likely to happen. We'll be back up and eventually much much higher not because Coronavirus may or may not worsen, but because of the things already well discussed that people are not focussing on right now. 
 
Oh, and maybe diversify a bit too. Stocks down, gold down, cash flat, bonds rally. At least some components of my portfolio are having a good day lol. 
 
I'm starting to sound like a broken record...

I am changing my prediction...........................................what a feck of a daft prediction that was!!!! (I was planning on going to Bairds at 4.45 if it had dropped........) haha!! I will have to visit them later in the week. I do not want to buy above 1240.00 at the moment!!!

The supressing machine is running on full power... The movements today make no sense.

People are probably also selling gold (winning) to cover stocks (losing) as to balance the books.

how many people who are holding stocks are also
holding gold?
 
HH

http://www.gata.org/node/17081
https://wikileaks.org/plusd/cables/1974LONDON16154_b.html
The futures market was created to suppress physical demand - to control the price DOWNWARDS. Gold is the anti-matter to fiat. The banking cartel have licence to create $trillions out of thin air. So they want the fiat system to look good and for them to prosper. i know you don't accept it is a bad thing that private banks, and that includes the central banks, can create currency when they 'lend'. The people have to work lifetimes to pay back something they were never lent in the first place but you have said in previous posts on other threads that is ok. Of course you cannot create gold out of thin air - so that buggers up the banking cabal so they don't want gold to make a come back.

The price jump up at the beginning of the chart is 'normal'. There has been no visible trading over the weekend - then the market opens and there is a gap up or down - this is common - the chart is catching up with what has been going on over the weekend. There is concern over the coronavirus outbreak - there is fear in the market - so gold moves up strongly - this is a normal market reaction.
There is no change in the situation - there is still fear in the market - the situation is worse not better so the smash down is not a reaction you would expect - (well it is b/c we expect intervention when price gets moving up strongly) - this is not a bit of profit taking, this is a price smash by official entities.
For a start who has got $3 billion in gold futures to dump at market? Who can get passed the regulators with such a massive dump of contracts? It is intervention by the usual suspects - if the gold price were allowed to run its course it would be above the all time high in dollar terms quite soon - so there is a dump of contracts to flush out weak hands, flush out profit takers, trigger stop losses and the like. 

I reckon it will be at between 0 and "A lot"! 🤣🤣🤣🤣🤣

Thought I would add this recent purchase. It’s the 2oz 2020 Kruger proof. Apparently the first year of the 2oz coin. 
 
I also bought some light reading. Yes it’s about sovereigns! 

I reckon it will be at between 0 and "A lot"! 🤣🤣🤣🤣🤣

I should temper my prediction by confirming it was not serious. So, I will put my head on the block. I reckon the price will fall to £1,232.00 at 5pm. 

It’s dropped we’re all dooooooooomed!!!

equals "TAX"!

Lol yup BBC so helpful
 
Currently dropping
Current Price £1,294.97 Week High £1,308.73 Week Low £1,214.37 Week Change £+79.12 (6.51 %)

BUMP.
 
You all know my recommendation on what to do as we see gold hitting new GBP All Time Highs: ABSOLUTELY NOTHING.
 
Sit on your hands. This bull market has many, many years to run. Go back and read the whole thread  - nothing at all has changed. We are going multiples higher, and it has very little to do with Coronavirus or whatever the scare story of the day is.
 
If you want to be one of the miniscule number of people who build long term wealth then you cannot be tempted to cash in a relatively puny 10% move. Leave that for the traders. Wait for the 500% move. That is how real wealth is made. 
 

Gold was just mentioned in the BBC News - but the price on the screen was 1633.7.  They did not state the currency, but in dollars it is currently $1673, so their figure was totally meaningless - good old BBC.

As i said we will start seeing the gold adverts - it's like 2010/11 all over again....

As anticipated - price hit the other side of my Andrew's fork and as i said i expected a pull back. There is blood in the water now. There are so many plates spinning the usual suspects don't have the ability and resources to keep them all spinning. Notice the indices are recovering as gold falls - selling one to buy the other. Oh the tears when it all finally unwinds. 
Stack your gold and stack your food - ensure you can get water and then watch the spectacle in the Colosseum. 

Panem et circenses - Bread and circus.
Nothing really changes - nothing new under the Sun.
However real the COVID-19 coronavirus epidemic/pandemic is i think it is a cover or being used as a cover for a lot of mischief. The USD- Treasury complex is crumbling - King Dollar is virtually dead and the paper palace about to be blown away by some cold winds from the East.

London Paul of the Sirius Report commented on the spike in the tonnage of the gold exports from the UK and that they equated to the alleged remaining UK reserves.
Did the UK sell the remaining gold? That spike of gold came out of someone's vault. Was this a last ditched attempt to stem the rise of gold or was the UK just skint?
Funny the BBC does a 'programme' just around the time - none of this programming occurs by accident.
One of my more grounded theories i would say.

Some pretty amusing comments indeed. Always find it interesting when something is brought to someone’s attention and they instantly have a opinion based on no fact or information.