sixgun

Who is being encouraged to buy gold? i don't see it. All but a handful are buying gold - that handful may be buying it hand over fist but it is still but a handful. Some people need to open their eyes to the world around them. 
The situation is improving on the purchase side,  but buying gold has been difficult as mints and refineries closed down. Most people are struggling to survive let alone hoard gold. Are jewelry shops open? - they're certainly not on the Continent.
The COMEX as far as precious metals is on its last legs - the LBMA has similarly been exposed for what they are - paper tigers. The spot price of silver is meaningless. The spot price of silver fell and the price to buy physical went up. i listened to the TF Metals interview with Andrew Maguire - Maguire said the Chinese are taking over the London gold market through the LME (London Metals Exchange) - that liquidity will flow to the LME. Maguire has a tendency to be a bit over enthusiastic at times but i find it hard to believe this one is a baseless statement. 

Wonger points to the concentration of shorts in the hands of the usual suspects - that they always win. 
Today a LBMA market maker hit the buffers due to shorts in the OTC market. It is suspected this is UBS that is in trouble. They are in trouble due to their shorts.
Miners and closing - refiners are closing - there is a shortage in the retail market - interest in gold and silver is ramping up - interest in holding physical. There is no Brown's Bottom to bail them out it is simply more paper but the rush is into physical.
When Wonger started his silver thread he made out silver would go to $4 - it didn't. The situation in favour of price rising is even stronger. 
Wonger says he has been short today - he is underwater. Perhaps JMP and Goldmans will throw him a lifeline. 

i have wanted sovereigns from this year for a long time - now i have a double - thanks @ilovesilverireallydo

https://www.tfmetalsreport.com/podcast/10110/pricing-system-broken-thursday-conversation-andrew-maguire
The Pricing System Is Broken - A Thursday Conversation with Andrew Maguire
 

A slight different Thaler for the collection. @ilovesilverireallydo tells me it is was loyalty presentation packs that you get as a free gift from magazine shopping for regular buyers.
 

People of the forum are looking for physical gold and silver. We don't give a flying f*ck what JPM and Goldmans are doing - there isn't a lot of physical around, so if JPM and Goldman could flood the market with physical that would be great - but they won't - they are doing the same as us - stacking physical. We are on the same side.

Well done - a profit is a profit.

This chart shows the inflation adjusted price of gold - this will be the official inflation numbers which have been fudged and massaged downwards for years but this is what we have got. 
So the gold price isn't really at $1725 - this price is in devalued dollars. What we see in the chart is the mother and father of cup and handles - we are well into the handle and then it is off to the races. From the chart the 1980 price of gold was about $900 (the real all time high). Today in full value dollars it is about $670 ($1725 devalued dollars) - using this as a metric, the full value dollars are worth about 2.5x the value of today's dollar. So if price were to match the 1980 $900 price, in today's dollars it would be 2.5x $900  = $2250. 
The handle reaches a take off point when price goes higher than the 2011 peak - which makes sense. i am sure most of us would reckon that if price can breach the 2011 high, hold (stay above) that level and then start moving up, then we can expect it to be all over the controlled media and every man and his dog will want a bit of gold (and silver). This massive cup and handle reinforces that. The bigger the base the bigger the bang. Not sure if that is a term used but it is now.

This chart shows the inflation adjusted price of gold - this will be the official inflation numbers which have been fudged and massaged downwards for years but this is what we have got. 
So the gold price isn't really at $1725 - this price is in devalued dollars. What we see in the chart is the mother and father of cup and handles - we are well into the handle and then it is off to the races. From the chart the 1980 price of gold was about $900 (the real all time high). Today in full value dollars it is about $670 ($1725 devalued dollars) - using this as a metric, the full value dollars are worth about 2.5x the value of today's dollar. So if price were to match the 1980 $900 price, in today's dollars it would be 2.5x $900  = $2250. 
The handle reaches a take off point when price goes higher than the 2011 peak - which makes sense. i am sure most of us would reckon that if price can breach the 2011 high, hold (stay above) that level and then start moving up, then we can expect it to be all over the controlled media and every man and his dog will want a bit of gold (and silver). This massive cup and handle reinforces that. The bigger the base the bigger the bang. Not sure if that is a term used but it is now.

Price got a smack down at 2.30pm GMT - this is the open of the US exchanges. There was a recovery and then another smack after which there was a gradual recovery into the close. i presume there was a dump of shorts into the market shortly after the open. The same old same old scenario really. What is different is the bounce back - the effect of their short selling is less than it used to be and the recovery better.

@KDave as we know the movement in price is due to shifts in the balance of buys/sells coming into the market. For every buyer there must be a seller but price will move according to which is pressing to get a deal hardest. If i am keen to buy i put in a bid - say it doesn't get taken, so i keep upping my bid until it gets filled. We see price moving higher. The opposite applies when price falls. Price is steady when the pressure from both sides balances out.

The movement in the chart snippet i posted isn't such a lot - it is $3. If the spread is $3 and the volume going through the market at that time is very thin i can imagine at situation where you could see this sort of picture.
Say a participant comes into the market with the price at X. This participant puts in the bid price, which is then matched - the price jumps up. There is no other activity in that minute. In the next minute there is a seller comes in and puts in the lower offer price - the price drops - there are no other orders going in. So over the last few minutes the price recorded jumps backwards and forwards between the offer and bid prices.
This does not explain the big move in the Bullion-by-Post chart - which i would presume is anomalous b/c we did not see the big move in my Friday XAU/USD chart. A big move in XAU/GBP that was not reflected in XAU/USD would have to mean GBP has moved down against gold as well as the USD - (so the price of gold and the USD goes up in GBP terms) or else we would have seen a big blip in the XAU/USD chart at the same time. These are all currencies - when i see gold appreciating against Sterling and and not the USD, i check the GBP/USD chart to see the pound falling against the dollar at the same time.

It's testing the waters 😛

i have seen these blips at the end of day quite a few times. This Friday there was erratic price movement in the last 5 minutes on my IG platform - not as big a jump as the Bullion-by-Post chart

More nice stuff from @arshimo2012 a lovely £5 sovereign. 

Price has 'zoomed' the red median line again - this is the third time it has made a strong push through the median line of my Andrews fork on the XAU/GBP chart. The wheels are coming off the wagon. i have a feeling price will hold above this time. Target is £1600 then. Could be middle of the summer if the trajectory is maintained - although i would prefer a bit more consolidation. In the current environment anything is possible.
But less of my rantings - Wonger he say go down hard. So a minus valuation on gold and silver seems to beckon. 

Try some of these out.

Try some of these out.

Try some of these out.

Try some of these out.

Price has 'zoomed' the red median line again - this is the third time it has made a strong push through the median line of my Andrews fork on the XAU/GBP chart. The wheels are coming off the wagon. i have a feeling price will hold above this time. Target is £1600 then. Could be middle of the summer if the trajectory is maintained - although i would prefer a bit more consolidation. In the current environment anything is possible.
But less of my rantings - Wonger he say go down hard. So a minus valuation on gold and silver seems to beckon. 

Price has 'zoomed' the red median line again - this is the third time it has made a strong push through the median line of my Andrews fork on the XAU/GBP chart. The wheels are coming off the wagon. i have a feeling price will hold above this time. Target is £1600 then. Could be middle of the summer if the trajectory is maintained - although i would prefer a bit more consolidation. In the current environment anything is possible.
But less of my rantings - Wonger he say go down hard. So a minus valuation on gold and silver seems to beckon. 

You listened to the same Palisade Radio podcast i did last night. i have a lot of time from Rick Rule. He is very experienced, he has a proven track record. Worth posting the video here i think.
https://www.youtube.com/watch?v=r2bf8HdGNeE

Try some of these out.

You listened to the same Palisade Radio podcast i did last night. i have a lot of time from Rick Rule. He is very experienced, he has a proven track record. Worth posting the video here i think.
https://www.youtube.com/watch?v=r2bf8HdGNeE

You listened to the same Palisade Radio podcast i did last night. i have a lot of time from Rick Rule. He is very experienced, he has a proven track record. Worth posting the video here i think.
https://www.youtube.com/watch?v=r2bf8HdGNeE