goldking

1 minute ago, Sparrow said:

Sterling is now at a 35 year low against the dollar and at its lowest level ever against the euro.

It was a good decision to start buying gold last year. 😬

Yes, quite incredible to watch the gold price increasing in GBP whilst decreasing in USD !  Unfortunately the only reason for the relative strength of the dollar is because every other currency is in the weeds. 

goldsilver.be site hacked ? ? ?

6 minutes ago, paolo said:

Did anyone notice that all main dealers in europe have pratically all silver out of stock, except collectables?

Pratically all standard bullions are sold out everywhere, and very few available are over 16.5 euros, with silver at 11.30 euros..

spread is almost 40% if anything available at all

This silver thread is here: 

This is the gold thread.

4 hours ago, Safestacker said:

Yeah what happens if no one buys the gold and silver then we have a load of money that can’t be used if needed. 

I don't know about silver but gold will always sell.  Even if a SHTF situation comes, if you advertise on here a bit under spot price someone will buy it to add to their long term stash.  It doesn't matter what the variant of "money" is at the time.  Let's imagine fiat disappears and we're all using bitcoin; if 1 oz of gold is deemed to be worth 5000 btc then there'll be people with 5000 btc to transfer to you in exchange for the gold coin.

Well I don't know about you guys but I was surprised to see gold get a nice little boost at the end of the day even though the DJIA tumbled by over 1000 points in the last hour to close just shy of 3000 points down .  That is freakin insane!  GBP closed on £10 down for the day which isn't bad going considered the huge wall of bad news that hit the world today.  Picture looks worse in USD though, losing around $30 on the day.  More turbulent skies ahead, buckle up tight!

52 minutes ago, Safestacker said:

God dam. Just bought one from the RM for £304. Wish I’d have saw this before. 

You bought a standard bullion sov from RM ?!  

Sharps are doing sovs for 1.7% over premium, ie. fiver over spot.  Usually it's about 3.5%.  Site is really slow to load and update, but the price is legit and goes all the way through to the payment screen if any of you want to load up.  That includes postage as well btw.  I'd be buying if I had the funds right now.

39 minutes ago, Deputydog said:

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

If anyone wants to offload their sovereigns at the current £282 spot price before gold goes back under a grand  and you lose all your money, you can click the private message button on my profile and send me your bank accounts details and I'll give you my address to send them off to. 

5 minutes ago, Zhorro said:

Now gold is down $60 on the day.

It's all going down in the short term.  Most of the developed world is on the brink of a lockdown, if not already.  That's gonna rip through the markets and we're only just at the beginning of how this is going to collapse businesses the world over and everyone lose their job.  I think in a month or two's time, PM prices will likely be the last thing on our minds - seriously. 

13 minutes ago, goldmember44 said:

Silver is getting absolutely destroyed, gold holding steady. So silver is reacting in step with the stock market, rather than with gold...acting as a commodity, not a store of value anymore.

Posting that in this thread is like a red rag to a (couple of) bulls.  You're going to get a slap if 'they' turn up with their handbags again. 

7 hours ago, Roy said:

Of interest:

https://www.bullionstar.com/blogs/bullionstar/gold-shortages-price-of-physical-gold-decouples-from-paper-gold/

It makes for a nice sound bite but the reality is that the prices and premiums for physical are still the same as they are for paper.  When I see everyone buying physical 1 ouncers for £1300 when spot is £1246 come and wake me up.  Until then nothing has changed, but it makes for a nice PR piece to drum up a bunch of extra business.

8 minutes ago, sovereignsteve said:

really, how do you get that from what I said. I sneaked in a little HGM order this afternoon after the fall😊

Sounded like you were concerned about the $144  drop. 

11 minutes ago, sovereignsteve said:

Down £36 on the week but this only due to the poor performance of the pound. Gold down 144 dollars on the week.

Sounds like you're getting a bit worried about the yellow metal Steve  .  I can help you out by taking those sovs off your hands for £280 a pop so you don't have to worry about it going even lower .

Well, after all that fuss, gold ended up being only a tenner down .  Much wailing over nothing. 

Double post.

Bitcoin thread is over there, auric > 

12 minutes ago, Auricsstash said:

Fed fired it’s free money cannon again... US markets did the same thing...

https://www.zerohedge.com/markets/gold-stocks-bonds-oil-explode-higher-after-fed-fires-bazooka

Too funny!  They're determined to keep their failed Ponzi scheme running at any cost.  Absolutely incredible.  The longer this goes on, the bigger the fall-out and the more painful it's going to be for all us normies.

2 minutes ago, goldmember44 said:

Compared to everything else, gold is holding up really well! Just take a look at bitcoin....

Yep, and the stock markets.  There'll be a lot of people (and companies) that have lost their entire wealth over the past week or so.  A £50 drop / "correction" from an inflated peak a week ago in gold is a tiny drop in the ocean in comparison.  There's still a lot of air yet to release from the stock market bubble so be prepared for the possibility that gold falls much lower in the short term.  Sit tight and don't panic!  

$16 BILLION worth of paper gold sold so far today.  Back under $1600. 

DJIA down over 2000 points in 45 minutes.  Who was it that laughed the other day when I said we were at end game?

30 minutes ago, Nick1368 said:

Bank of England reduced interest rates from  0.75 % to 0.25 , gold is £1293 as I type.

Well, that made a difference to the price for a whole hour before dropping back down to where it was previously at. 

/s

4 hours ago, LawrenceChard said:

I could not find the "Change" tab you mentioned, but then again, it's been a long day!

Check our revised shippiing charges you may ne pleasantly surprised!

...and, no, I was not at Sheffield auctions. I must change my avatar, watch this space!

Nice work with the P&P, Lawrence !

If you look at the 2nd line from the bottom it says "Note: Delivery has been removed and prices updated accordingly. [CHANGE]".  Click the word [CHANGE] and it will remove the P&P element.  I think the wording could be clearer as it took me a minute to figure it out first time I saw it.  Perhaps WITH POSTAGE/WITHOUT POSTAGE would be better, in a nice bright green to catch your attention .  

You are 2nd cheapest now for sovs.  Seems like HGM have a 1% off sale on at the moment.  Shows that they've sold 42 sovs in the past 24 hours.  That's a lot of money, but how much profit will of course depend on what their margin is.  Given how popular sovs have become for us gold stackers now that the 1 ozers are getting out of reach price wise for many, you may well find if you were to announce a slightly better "sale" on your site and here, you would do quite a lot of business .  Same for the half sovs too as even the full sovs are starting to get out of reach for people on lower incomes.

12 minutes ago, LawrenceChard said:

I can see that most Silver Forum members prefer to see prices including postage, each for their own reason.

[...]

One factor where postage included price comparison fails is where customers buy 2 , 3, or more coins, in which case, our per item postage costs reduce by about 50% for the first additional item, 66% for the second additional item, etc. While the postage included comparisons remain valid for single piece purchases by post, they are skewed and incorrect for physical collection customers, and for any purchases of more than one single piece, and therefore wrong more often than they are right.

Although mainly a UK based membership, it's a worldwide forum.  Only a very small percentage of the membership will be within a short travelling distance of Blackpool so it stands to reason that the majority will want to see postage costs included in the price comparison.  I don't know if you're aware, but clicking the 'change' tab down at the bottom of the comparison page shows the item cost on its own.

Just a suggestion, but given that HGM can do P&P for £6.95 to the UK is there any reason why you can't match it?  That would improve your ranking in the comparison by several notches from a quick glance down the listings.

As a side note, were you at Sheffield auctions last month?  Your avatar pic looks nearly identical to a guy I was chatting with there  .

We shouldn't lose sight of the fact that gold is still up massively from £1145 at the start of the year.  Before the brown stuff started connecting with the fan a couple of weeks ago, the trend was about £5 increase per week so even if it drops back down to £1200 we'd still be in a good place.  Also remember that the higher the price, the more expensive stuff becomes to buy in fiat.  £10k gold would be truly amazing from a psychological standpoint for all us stackers, but the shine would quickly fade when see that a Warburtons Toastie loaf is now about £75.. 

Gold starting to show lower support at £1295 / $1695.  Friday was just a spike.  Wonder if it will last.

Edit: nope! 

Up, down, up, down, up, down!  Nearly $40 of volatility already and the western markets have yet to open.  Down to $1666.  Folks selling gold paper contracts to cover losing positions in oil, stocks etc.  Margin calls Monday morning are going to hurt and could easily see gold crash hard today.  The futures markets triggered the circuit breakers earlier and all trading was stopped as they'd hit their loss limits.  Going to be another wild week!

30 minutes ago, goldmember44 said:

Zombie apocalypse now. Dow futures -1,150

Will all be green again by the close of business today .