Zhorro

Concerns over an Iranian response over the weekend?

Gold soars above $2,400... GODL! Precious Metal Soars Above $2,400 After Sudden Gap Higher | ZeroHedge

If you have gold it is good, if you don't have gold it is bad.

Higher inflation means interest rates will stay higher for longer, so I think that's bad for gold. But higher inflation means that fiat currency is worth less, so that's good for gold. So, gold will go up or down.

Did you say the Gold vaults are empty? (Just trying to get picked up by the internet algorithms)

This does seem surprising. Have people really stopped buying because of the high prices? Things are still selling on this Forum - if the price is right. Maybe their premiums are too high? Or they don't want to sell now, as they may have limited stocks and they anticipate the prices going even higher in the future? Maybe our Australian members might want to comment on this?

The lack of coverage of the ATHs in gold in the mainstream media has been mentioned in this Forum. Well, at least gold was on the front page of today's FT:

"Gold is telling us the Fed is wrong": Peter Schiff: Gold Is Telling Us The Fed Is Wrong | ZeroHedge

Surge in speculators' net long positions may mean that silver still has some way to go: Inflation-Risk Latecomers Pile Into Silver | ZeroHedge

If it is based on this design, you would have thought the RM would have released it on 18th June 2025 - i.e. 210th Anniversary, rather than the 208 years 10 months and one week Anniversary!

According to BBP the close is £20.80

Yep, according to BBP is is £1,813.85.

Looks to be making a move: £20.40, up 11.4% in the last month:

I thought it was to do with the coins - my bad.

Hi, are you in the right section? I think this post should be under "Buying & Selling" "Australia & New Zealand" "Ungraded". It is also usual to have your Forum name and date in the pictures.

It is interesting that many Western governments seem to have ignored gold, i.e. not been buying it recently. A notable exception to this is Poland. The countries that have been buying are China, Russia and India. A surprising buyer is Singapore. But Japan seems to be in the Western camp and is not buying. Interestingly the Western camp have focused their reserves on US dollar debt. This dichotomy could have serious consequences if US debt continues to increase unchecked.

Good question! As far as I can tell: 1) Expectation of interest rates coming down? So, gold up? But of course gold was not this high when interest rates were really low. 2) Higher oil prices are pushing up the expectation of inflation? If this is the case, then interest rates are not going to come down? Contradicts 1) above! 3) De-dollarization - so no real incentive for China to sell its gold. Does China really want to sell gold and buy dollars? Other countries are also wanting financial independence following the way the dollar was weaponised against Russia. 4) Countries that hold large amounts of their reserves in dollars are starting to worry about the rate of increase in US Government debt - and so may be diversifying. 5) Anticipation of possible turmoil in the run up to / following US (and UK) elections? I'm sure there are other reasons as well.

I think you need to read the "Quick start guide":

Sold.

I know the Japanese interest rate has gone slightly positive, but I'm struggling to see a direct connection with the increase in the price of gold. I think US inflation figures come out tomorrow, so whether people are taking a gamble?

And do we know what has been pushing up the price of gold over the last week?

Thar she blows - £1,735.

Followed his own advice and went bankrupt after shorting gold???

I remember about six years ago I was upset I missed out on a sub £200 sovereign!

Does the letter go into the coin, or does it stick out? People do sometimes engrave their initials on coins - but it could still be a fake. If the letter sticks out, it probably means it is part of the design and so a fake.