Martlet

1 hour ago, GoldenPhil said:

I use a trading app in the UK. To short it you simply click the sell icon. Then to close the order later you click the buy button. 

iq options?

1 hour ago, Bumble said:

The fuel costs are a big deal for miners, especially the open-pit miners. The huge trucks that are used to move ore only manage about two miles per gallon.

Fair point, very well made visually. 

1 hour ago, vand said:

Remember that oil prices - which are usually a very big cost for these companies - has collapsed, while the price of gold continues to push to new highs. Their earnings are going to jump by magnitudes.

How much of miners costs are in oil, rather than general energy?  

3 hours ago, Bumble said:

According to a recent interview with Rick Rule, the usual course of events when the gold mining sector breaks out is that the big names move up first, then mid-caps and finally money trickles down to the juniors. When the price of juniors starts to move up, they may well use this as an opportunity to raise more capital, and this will keep a lid on their share price, at least for a while. Generalist investors who don't understand the intricacies of the mining sector will buy big liquid stocks like Newmont and Barrick, or the GDX and GDXJ funds.

Think the big names have already gone, whats in the mid-cap and smaller thats worth looking at?

7 minutes ago, DarkChameleon said:

Hate the ghost trades, they should do something about it, sell orders put in then cancelled but during the sale the price drops and someone buys or another ghose sell order comes in to push it further, if there were a 1 cent a dollar tax on orders wether filled or cancelled this would stop instantly.

Mandate orders must exist for minimum time rather than transaction taxes. 

15 minutes ago, Wonger said:

The markets are only very very lightly related to the economy...

So how else do you explain the recent falls other than in direct reaction to business suspension and lockdowns, killing earnings and economic activity.  What do the markets follow if not the economy, in your view?

2 hours ago, Wonger said:

This graph just shows how comical the $400 prediction is, even if one expects a retracement in gold. 

37 minutes ago, HawkHybrid said:

https://www.rt.com/business/448783-russia-china-trade-turnover/

to the value of over $100 billion(2019). in global value terms,

china is not exactly giving up on the dollar?

 

HH

Trades are put into $ values for reference, most people know what their currency to $ is worth, but not a clue what the Ruble or Yuan are valued at.  Some times trades can be shipments of goods exchanged like large scale barter. 

2 hours ago, 5huggy said:

Or perhaps they are trying quietly to ship Gold out to Switzerland on behalf the "elites" and "%ankers" 😉🙄🧐

 

I'm curious why the "elites" controling London would need to ship somewhere else?

52 minutes ago, zhoutonged said:

Gold can't go bankrupt, supply can't inflate, it will never go to zero. But at these prices I'm thinking the market is *correctly*  starting to price in an eventual return to gold backed money?

We arent returning to gold backed money.  I know you may not accept this, but use the recent crisis as a reference.  With gold backed money, how could governments react to world wide economic constriction, with simultaneous supply and demand shock?  Politicians will not put themselves into the economic restriction of gold standard again. 

Bear in mind sterling has been hammered, a steady recovery will cancel some gold price rise. 

There are many different sources for gold price, some are live, some CFD, some futures.  I currently see ICE CFD showing ~1593, while COMEX futures showing ~1667. Different markets different prices. 

9 minutes ago, HighlandTiger said:

Seeing as silver is supposed to be a safe haven when the terrible hits the fan. Then why has it dropped like a stone during the biggest viral epidemic in nearly a century.

Beginning to think the silver "experts" have been conning us all these years.

If silver isn't going to go to £50 an oz during this crises, I doubt if ever will. 

 

Turns out people seek pasta and bog roll before silver.  Some re-evaluation is going to be needed. 

1 hour ago, paolo said:

The markets doesnt belive anymore in the central banks..

The markets are more focused on the fact everyone isolating will take chunks off GDP.  Leisure industry, travel industry are going to lose weeks of revenue and significantly shrink.  China expected to report negative growth Q1, that will filter through to about every industry across the world. Half a % on interest rates isnt the big issue.  

gold:£ price drop softened by sharp sterling drop last couple of days. 

43 minutes ago, Bumble said:

I'm inclined to agree that the recent fall in the gold price arises because a great many stock market participants are using leverage, and so when the prices move against them they are forced to sell whatever they can to stay liquid and meet margin calls. There are a few other speculations that I've come across: the BIS may be selling; Russia may be selling in order to compensate for lost oil revenue. These are less likely, I think. In 2008 gold and gold stocks fell during the crash and then proceeded to rise strongly, so we have a precedent for a rally.

An ex-trader in another forum says its simply no buyers, and this is common in dramatic market falls "the screens are red but the phones dont ring".  We too easily forget that for every trade someone must be a buyer, if no one is interested the price goes lower until one appears.  

Yes good to see the £ holding up during this, thought that might provoke more attention on this thread. 

5 hours ago, Oldun said:

But, in the case of the bank of england, they “define” so I have turned it around so as to make more sense. Big picture.

Exactly, the national bank defines the national currency in modern economy.  Its the whole point of it being "fiat", and becomes silly calling it counterfeit when it makes no claim to be a representation of something else.  That was the past.  Its like arguing a 911 must have an air-cooled engine and those made since 1998 are not real 911: the maker of the 911 says otherwise.  And more importantly no one really cares that it changed. 

I'm not sure the £ was ever defined as a sovereign (rather than vice verse), the Coinage Act 1816 which put the UK on the gold standard defined a value for a pound of gold (and not a pound of silver as used in older definitions).  So we have government defining what is currency, then people argue that the currency defined by government isnt real, using a previous government definition as proof? 

12 minutes ago, GoldElliott said:

So the promise to pay is just the promise to swap 1 note for another?! In which case what 'value' does a banknote have?!

Yes, ever since we came off the gold standard.

1 hour ago, Frenchie said:

This has nothing to do with events but with market sentiment...In 2014 for example, with the Ukrainian revolution and when Russia took Crimea, gold was bearish...

Events influence market sentiment. There is a significant difference between conflict in Crimea (no one really cared, except the Ukrainians) and the middle east. 

Great data bomb, though looks like it doesnt solve the matter.  The extra thickness of the 1915 would indicate ~10% extra material, but weight is on spec. This, along with other outliers, leads me to conclude the measurement is suspect (and it is difficult with coins).  If they are fake they are not the usual obvious ones, except that odd "scratch" on the 1915.  Assuming the dealer checks stuff coming in, i'd reckon they contain the expected amount of gold, even if they are copies.

1 hour ago, Abyss said:

Some good deals 1 oz Lion / Griffin

Sorry not that good after all unless market to buy 100 1 oz Gold Lions

 

Begs the question though, if Griffin and Lion are available from the mint why have they reached such high premiums?

Not sure i understand the marketing strategy here.  Big up a fine design, noting history and popularity (?), then only make available as very exclusive large denominations (and token high premium silver).   

5 hours ago, silvernewbie said:

I just sold and transferred it out online will it go through??

Seems this occuring over the weekend when banks are closed is working in favour, can transfer/spend before they are suspended from the card payment system.  However, i expect there may be problems with delivery as companies may not be paid.  Its going to be messy and impact other similar payment services. 

46 minutes ago, Nobody said:

Lol. 

 

So by 2021 or 2039 will be complete doomsday? For a person under 30, in a dead end job earning mid 20s salary,  what advise would you give? 

I'd advise either buy beans and Kalashnikov's, or forget the fear and get on with life.