Pipers

If we assume the Fed announcement tomorrow is a 'not yet' on interest rates what will we see in pms?
 
A spike up then a drop back as the talk moves to a possible (read impossible) December rate move?

Just bought the $5 dollar eagle liberty from HGM not sure what type it is.    

1910 perth mint sovereign
1914 half sovereign
 
was not so keen on buying after the recent price rises - but had some scrap 9ct gold to trade in so that offsets things a bit. 

don't you mean draughts  
 
HH 

The currency previously traded 2% either side of a fixed value. The fixed value was always decided by the central bank (Peoples bank of China). Now China is going to base the fixed value on the previous days closing value, effective allowing the market decide the currencies value. This is how some of the other major currencies work. This change makes Chinas currency look like it is more market controlled, but in reality the bank can influence its value at the close of play and effectively still control the price. The devaluation we saw today was the banks attempt to reflect market forces as they hand over the reigns. If they had not devalued it and just let it float, the value could have risen which would cost China in exports. They do not want that, they just want the illusion that currency is not centrally controlled so that they can join the IMF's reserve currency basket of SDR's. The devaluation will encourage the currency to move in 'right' direction for some time as many people are now expecting further devaluation going forward (not likely in my opinion). This was not about boosting trade and making the currency weaker for exports. They only wanted to prevent damage to exports by stopping the currency rising with market forces on float.
 
Going forwards, the real test will be if market forces manage to beat central bank interference at the close of play. If this happens and the currency strengthens too much, then I imagine China will be pushed to interfere with further devaluation. The devaluation today makes this scenario unlikely for the short term in my opinion and the currency will now naturally fall on its own as people expect and price in the further devaluation that will never come. 
 
Now that I have said all of this, you can guarantee China will devalue their currency again tomorrow! 
 
At least gold and silver should strengthen if that does happen 

Gold and silver have made some gains today , presumably on the back of the Chinese Currency devaluation. Copper fell quite sharply after yesterdays gain presumably because of the same announcement.  
 
Some are predicting further devaluation to follow - if this is about trade, a devaluation makes Chinese exports more competitive. The Singapore, S. Korea and Taiwan currencies are all competitors of China so will likely follow suit. The next logical step is further devaluation in a long predicted currency war. I do not think this is what is happening. 
 
I think this is not about trade but about the Chinese currency being included as a reserve currency part of the IMF's special drawing rights (SDR's). If this is the goal then there will likely not be further devaluation. Instead this is about introducing volatility in an attempt to make the exchange rate more market based, so as to meet the criteria set out by the IMF for SDR reserve currencies. The IMF are conducting a review of the reserve currencies used in SDR's and the Chinese wish for their currency to be included.
 
In conclusion, despite the rally, all of the metals are likely to continue falling going forward IMO! 

Just look at the commodities prices today!!!!!!
 
http://uk.investing.com/commodities/real-time-futures
 
I'm going to hold cash, something big is about to happen when everything is going down in commodities there will be money to be made in the long run the markets will over sell big time.  

All depends on where you draw the line. It could be said that we have already dropped below the support level. 
 

If I have some time on the weekend I may have a go at doing my first ever YouTube vid of my full stack.

Ill just stick it in a quadrum case and add it to the stack

You can't post a pic of a sovereign on here without someone saying it looks dodgy

Today I bought a 10g gold bar from HGM. Good for my averages at £794/oz delivered.

I didn't want to pay the extra £50 to have the 1/2oz in OMP.

Today I received the last few 1oz kooks to complete my date run.
With some forum help, thanks guys.

Today I bought a couple of 1oz kookaburra's which took my total to 100oz's.
At the start of the year that was my goal/ dream.... (never expected to reach it by May!!)
Thanks Silver Forum, I'm going to need a new goal...........any ideas

Today i got from my family for my birthday later in the month.
1 x Maple.
1 x Philly.
2 x Spiders.
This brought my average way down. To £18.76p per oz.and a total of 100 oz.
 
I have finally made it after all these years of scrimping and saving,selling stuff,collecting scrap metals for money,then using the money for silver,birthday and Christmas gifts, and just buying an ounce here and there too, as cheap as i could find it with the odd exception. I have done every trick in my book to stack this one hundred ounces of silver and i am very proud of myself for sticking with it.

stop eating so much then.

Not quite today, but I'm currently waiting on delivery (hopefully tomorrow) of six full sovereigns.

1901
1910
1912
1968
2000
2012

Unknown condition so I'm excited to see what I got!!!

Silver smashes through the dizzy heights of £11 (!) 
 
Back up the truck - silver tooooooooo ddaaahhhhhhh moon !!
 
....oh hang on we must be due a massive smash back down some time soon (again) by the silver paper pusher banksters just like the last time, and the time before that, and the time before that,and the time before that,and the time before that,and the time before that,and the time before that,and the time before that,and the time before that,and the time before that,and the time before that, and the time before that,and the time before that,and the time before that,and the time before that,and the time before that,and the time before that,and the time before that,................................and the time before that

PM bear no just a realist. The lower the price the more I can buy per month.

Zerohedge, has yet to it out a positive article, he certainly knows his readers. To be fair he proberbly is right. I stack PM,s for the long long term so the lower they go on the lows the better.
I am hoping for £720 spot gold this year, you may laugh but if the fed raise interest rates gold may drop fast. Gold and silver have been in this price band for a long tie now, we a due a price shift.

On the opposite side we have Greece and the Euro, will they default next week? Will that cause a run on the banks in Europe?

Then in the UK we will have the EU in out vote that will cause a run on the £.

You buy gold and silver when it suits you and I will do the same, I won,t complain if I miss the bottom as I already have a stack and I still buy small amounts each month.

I,m sure you want to stack as much as possible before the next bull market. I buy small amounts each month and large amounts on dips (well for me) we may just have different ways of stacking.

The non farm payroll results are just in and they are 227K that means unemployment has fallen in the US from 5.5 to 5.4 that means that Yellen and the fed are more likely to put interest rates up in September. IMO Gold and Silver may now weaken in the short to mid term, but I may be wrong.  

I'm hanging on HT for now we have the results this afternoon from the US if they are good I can see gold dropping to 755

I'm hanging on HT for now we have the results this afternoon from the US if they are good I can see gold dropping to 755

Today I bought a 1oz silver High Relief 2015 kookaburra coin.

Just hit a major milestone today, over the 1kg fine weight in gold
 
Current stack total is now 1002g or 32.23oz
 
This month Ive grabbed -
 
1/10 Britannia
1/10 Krugerand
1/10 Guernsey double
1890 full sov
1913 Prussia 20 Mark
1909 20 Franc
 
Now just ordered up an Austrian 100 Corona from Atkinson's tipping me over the edge -
 

 
Will add some real pics when it gets delivered (hopefully tomorrow)