Martlet

7 hours ago, mdp2505 said:

Either I am misunderstanding the table - which I hope is the case - or it is the most ridiculous example of fear mongering available. 

I expect the authors of the table are misunderstanding/misinterpreting source data, dont know if deliberately or not.  The point you raise about growth of GDP while existing nations collapse is very valid.  The problem is not so much that the fall of western GDP is too large, the gain of currently smaller economies upto 3x isnt credible in such a time frame.  The western population collapse isnt matched with growth elsewhere either, unless we all leave for India and they have no indigenous growth, or half the western world population die without any impact on rest or the world.  Except Netherlands, they seem to come out unaffected.  Its nonsense really. 

And silver down over 4%.  Whats Trump said?

Jokes aside, appears positive US employment data. 

3 hours ago, S2G said:

Quick announcement: thanks to the first contribution to the project (by a forum member!), I decided to buy a domain address for the website:

https://goldcompare.net

This should be a lot more memorable and easier to type!

Since the address is brand new, it may take 24hrs or so for everyone to be able to access it (you may get some weird errors in the meantime).

The old address ending herokuapp.com will be still around, but I can't guarantee it will work in the future, so it's best that everyone uses the new one.

Good choice, both to go to dedicate domain and the name.  It's up and running here, the old already showing some generic "nothing here" message.  Might be an idea to put a redirect link there for a while?

If you do add other coins (and you should), make them separate pages to keep that minimal, clean page.

Excellent, have been thinking of something similar for some time but little time.  What was used for capturing the data?  Also echo comments on minimal approach. 

1 hour ago, vand said:

- They overwhelming drive modest used cars paid for in cash and understand that a car is the ultimate expression of lifestyle creep
 

So true, i know several couples that have high combined income and seems most goes into their new cars.  And holidays, 3-4 holidays or "breaks" every year seems standard these days. 

2 hours ago, DrKarlMoneys said:

This week seems to be crunch time for Brexit.  What do people think the impact will be on the price of PMs? Just today gold is up 1% and the FTSE 100 is down 2%.

At time of posting a 3rd meaningful deal has been postponed until later this week as May still doesn't have support.

Common market 2.0 (Norway plus) looks like a good compromise option Labour MPs may be more inclined to get behind so May wouldn't need to rely on DUP support to get it passed.

If May were to be forced to leave before a deal gets through I expect it'd be very bad for the pound and good for gold.

In the event of a no deal I'd buy as much gold as I can afford, put my head between my legs and kiss my arse goodbye. 😟

 

Is anyone buying gold in preparation for Brexit right now?

UK leaving wont make much difference for the gold price in $.  In £ it will, we're looking at a 5-10% either way, down if we get no deal or up if there is agreement.  All the indicators are we'll fudge together a deal/delay/stay, the probability of no deal is high but less than all others. 

I dont mind mistakes, but not the "glitch in the system" pony.  It was priced around same as Britannia's and other 1oz, they realised they they could get more when dozens of orders came in. 

6 hours ago, ChrisSIlver said:

Will make a new topic tomorrow to discuss price action in $ USD, so we can keep this one £GBP

Is there value to splitting the conversation?  This one maybe become quite quiet as $ is the primary pricing, while £:AU is a proxy for currency movement. 

48 minutes ago, Bumble said:

But as I see it, we don't get to choose the number of variables. The price of gold depends on lots of variables and that is how it is. Of course, if the value of GBP falls against USD then gold becomes more expensive in GBP, but the same reasoning holds for USD. If the American economy is strong and the USD rises against other currencies this makes gold go down against USD, but that is just an artifact of the strong dollar. It tells us nothing about changes in the global demand and supply of gold, which is what prices are supposed to do. I don't doubt that USD is the most important currency, but if we wish to derive information from the price of gold we need to abstract away from the relative movements of all the fiat currencies.

Price is supposed to give you an aggregate of supply and demand, based on fundamentals.  Chartists, technical analysis isnt interested in the fundamentals, its looking for information in the price movements, patterns, showing underlying trend of supply/demand, more likely showing mood of traders.  Its really about looking for price movement in the absence of fundamental data (which changes infrequently), for short/medium term change, or forecasting target prices (if it trend goes down it will go 5%, go to around this number, so on).  To do this requires reading the largest, most liquid market, as it give the clearest signals, least affected by macro-economics outside the asset.  Watching the £:AU price is going to give a poor signal, it could show a sharp move about to happen then local numbers shift the £:$ against that. 

2 hours ago, Bumble said:

It is interesting that this thread is called "Gold Monitoring Thread £ Only" and yet the chartists nearly always present their charts in $ (XAU/USD). The point is that charts of the gold price look completely different depending on the currency cross. I have read recently that gold is at or close to all time highs in approximately one third of all the currencies in the world. Looking for technical formations is bound to give completely different results for different currencies. To say, "gold is priced in dollars" is missing the point. Gold can be priced in any currency you choose just by dividing through by the dollar exchange rate. It is more appropriate to point out that gold is mostly traded in dollars, but even then, it is surely the currencies of the producers and consumers of the gold that matter most: what goes on in the supply chain in between should just come out in the wash.

It is entirely the point because countries currency are not being determined by the gold price or vice versa, so charts based on anything other than $ are going to give false signals.  A currency with a positive story could rise 5-10% and the relative gold price fall even with headline $ gold price rising.  i.e. your trading on fundamentals, not technical analysis.

23 minutes ago, passiveaggressive said:

Well done Martlet! Very good insight of the 627 holders. I like facts.

My understanding of what you just said.... KAU and KAG are touted as a means of moving fundsfor real world purposes. KAU / KAG transactions volumes are based on Tether transactions. However, Tether is only really being used in the crypto world by a few largeish players to buy and sell crypto - not sending money to ma and pa back home.

Thats about right.  The use of Tether and aims for KAU are quite different its not a good comparisons. 

2 minutes ago, mr1030 said:

The Tether comparison is made as Tether is probably the best known so called stable coin.  And your right that Tether is used mostly by crypto traders to get in an out of other crypto's  when their price plunges, and then trade back in on the rise.  Kinesis is aiming at that market (as well as others).  Given the choice, would someone who is temporarily exiting the bit coin market due to a down market rather hold their dollars in Tether, or Kinesis and receive a yield while doing so?  And now that the KAU and KAG can be bought with Tether directly they have made it easier to do so.  Can convert directly to Kinesis from bit coin or tether.

The relatively high transaction fee will restrict that market, and their exchange is unlikely to have the volume to attract serious BTC trading.  The idea of holding in KAU instead of Tether is a good, just unlikely to generate significant turnover.   The main problem for KAU is obtaining the $800bn in year one to reach the projection.  After a number of years, it might build up to that sort of size, but from here thats too far.

Tether is funded by major exchange(s) depositing funds with a bank and creating an amount on the Bitcoin blockchain using something called Omni protocol, so in theory its backed (its been controversial as to whether it really is 100%).  The reason for comparison is because its traded an awful lot on exchanges for other crypto currency giving a high amount of turnover.  That being the correct term, its not velocity as there is no actual produce or service, as used to measure velocity of money.  It served a purpose to show the potential of KAU as money, however imo led to overselling the idea because its not going to be used to trade $'00 millions of cypto every day.  With only ~627 holders I dont believe there is enough traction for this to work as it stands, even using funds to buy and circulate KAU.

We broke south from the short trend, destination $1213.  Hard to say what that means in £ though seems to have strengthen, could go anywhere +/- 5% on Brexit progress. 

4 hours ago, shortstack68 said:

If you consider putting something away for longer term then why not look at numismatic coins, the right coins can appreciate more than gold or silver. Last year i bought (as an example) a rare Edward IV rose noble of bristol mint, i paid in total (inc fees) €3900 in Nov 2016 and sold it in May 2017 for £5600 without fees, so i got 100% of that total.

Where's the market for such things, assume its not ebay.

Problem with platinum is the massive premium before you even get to the VAT.  Looking at 40-50%.  That said if i wanted platinum the Noble is a fine looking coin.

Another delay, and no real information why.  The take up is lacklustre, don't see how they will change that in another 6 months.  Too much focus on KVT and promise of riches, than the actual gold backed tokens in my view.  

2 hours ago, Paul said:

Is this the gold train leaving the station, next stop to da'moon ?

 

It's certainly halted and reversed the downward march that looked heading for 2 year lows.  However the weakening £ is exaggerating the Gold/$ price which is modest rise this week. 

30 minutes ago, sixgun said:

But if you do know you will raise money later.... A decision was made to let Joe Public have their chance. i have been told there are large institutions lining up - one in particular was mentioned - GSR Capital (a big Chinese investor - hint). If one big player came in, then all the KVT's would be gone in a rush. Hedge funds don't tend to like to be first but don;t like to be left out.

You're taking this on trust and one of the core, original principles of blockchain is to remove trust.  You dont *know* investors will be able or inclined to invest later.  Normal fund raising has large investors underwrite the issue, you can still open it to smaller investment pools and and individuals (I briefly supported system for book running).   The investor controlling 40000 KVT backs up what you say, but i find the claims at odds with actions.  Kinesis could be funded and launched by now but they preferred to extend the process    

15 hours ago, Groundup said:

As for the CEOs decision to sell first to the small guys. Why is this such a hard concept to understand

Well for me its highly unusual, normal practice in business is to find fund raising any which way you can, not turn it down, because you never know if you'll raise the money later.  And its contradictory then putting a $1k price on the tokens, so the really small guys are priced out.  I wouldn't want to put in $1k, though at $100 i'd have taken a punt even with questions lingering (i've put that in to more speculative projects).  If they had promises of funds they were not committed, so count for next to nothing.  On the other hand, etherscan.io shows one very large investor, all those >2000 allocation trace back to a single account, though that's another contradiction.

4 hours ago, FFkook said:

Anyone knows why the gold price did this big rise today? Any known reasons for it?

As well as other reasons suggested, strong buy technical signal, cross over of 20 and 50 day moving averages occurred yesterday. 

I thought it was impressive for the crypto space, where its 2-3x more than other ICO are trying to raise. 

What do we think about the fact there are only ~400 holders?   

3 hours ago, Groundup said:

@sixgun what is your take on the utility token Vs security token with regards to Kinesis. I know KVT are currently a utility token. 

KVT are securities by any normal definition - they are designed as an investment and provide a share in revenue.  I dont know what contrivance would make it qualify as a utility.  KAU/KAG etc would be utility tokens.  Actually, thats not entirely clear as they too attract a revenue from holding.  I dont think it matters, its only relevant to US investors or few other nations where local laws restrict investment around securities.  There's a bit of an obsession about this in crypto world as it may affect the trade of some tokens for US citizens or US exchanges, though as KVT won't be freely tradable its a moot point.

1 hour ago, HawkHybrid said:

https://www.gold-eagle.com/article/record-goldsilver-shorts

 

worth a skim/read. existing positions in shorts means

guaranteed buying potential as these positions will be

closed at some point in time. what constitutes a big

net short position is less of a science.

 

HH

Its shows some cognative dissonance to make the claim that short selling is bullish.  Yes, high levels of short selling do often precede a bullish move, but thats usually seen retrospectively.  Short sellers are expecting to buy at a lower level.  If we were to accept the article's logic, long futures would be a bearish signal and i bet the author wouldn't be making that assertion. 

2 hours ago, Mildred said:

@Martlet, a typo is unintentional.  You are saying that an E*trade employee, while writing to a E*trade client, put down unintentionally a full stop in the middle of a sentence and then unintentionally started the following word with a capital letter

Yes, it happens. The capital would have auto corrected.  You said yourself its didnt make sense, but change that punctuation and it does.  The purpose of the article is make a fuss out of nothing.  

Always consider a cockup before a conspiracy.