Gold high spot price

[JunkBond]

Believe me @Pete there are a couple of us at least looking at your proof sovs and wishing spot was lower. 😉

[Spanishsilver]

17 minutes ago, Pete said:

Finding it difficult to sell gold at or very close to spot at the moment on the forum.
I assume everyone has watched the recent rises and is waiting for a fall.
I thought the same thing so sold a load of gold to HGM taking their below spot price and had I waited a week I could have bought a full ounce of gold with the higher price.
You just cannot predict prices or time the peaks and troughs.

Very true 

[Xander]

1 hour ago, Spanishsilver said:

I’m looking to sell ten sovereign who offers the best price online does anyone know. 

Try Atkinson.

[Goldmick]

Yes Atkinson's but ive just put 4 on here for a little bit more but dont think no one is buying at mo lol

[Spanishsilver]

9 minutes ago, Xander said:

Try Atkinson.

Thanks but I’m going to sell to bullion by post as I’m in Europe and I’m happy with the price they have offered but just have to wait until Monday morning hopefully the price won’t have changed too much. 

[Spanishsilver]

2 minutes ago, Goldmick said:

Yes Atkinson's but ive just put 4 on here for a little bit more but dont think no one is buying at mo lol

Exactly best price seems to be spot the only people buying in small amount are the dealers

[Goldmick]

Lol yer there a tight lot on here 

[HawkHybrid]

your gains in trading metals is someone else's 

losses.

you can't expect to shift half your life's savings

in metal, all in one go, close to an all time high(£)

on the forum. how many forum members have

the capacity to take such big losses?

 

HH

[KDave]

A good point on the zero sum nature of gold, it's basically currency trading but who knows how high gold will get in Sterling when USD has quite some way to go. 

A retest is expected but gold could base higher and never see the former resistance again if we really are in a new bull market. No guarantees either way. 

[vand]

Guys.. you have done better than our friend... but not much better, in the overall scheme of things.

Gold will at least quintuple in value compared to GBP over the the next cycle (5-10 years). There is no reason to sell your gold other than if you wish to speculate on a short term correction. But as I have pointed out, there will have been people who did the same at every price point in the last £200 move over the last 2 months. Most of them will not have managed to buy back in and the market is highly unlikely to ever give them a chance to buy back at the same or lower price than they sold. That is the risk you take. Is it really worth it?

I'm holding on for my 500% return, and looking forward to the "If only I hadn't been so quick to sell my gold" stories on here in a few years' time. Join me, or fall by the wayside trying to 2nd guess the squiggles. 

 

 

 

[KDave]

17 minutes ago, vand said:

I'm holding on for my 500% return, and looking forward to the "If only I hadn't been so quick to sell my gold" stories on here in a few years' time. Join me, or fall by the wayside trying to 2nd guess the squiggles. 

The ounce I sold I intend to buy back at some point but holiday comes first, I only get to take my 8 and 6 year old away once before they are 9 and 7 

Best case I buy the ounce back for a little bit less than I sold and win the squiggly line game. Worst case I spend a bit more on the difference as we enter the bull market and I will be very happy to do so, for the implications such a price movement has. Either way, I am with you brother, onwards to victory and 500% gains  

[Roy]

9 minutes ago, KDave said:

I only get to take my 8 and 6 year old away once before they are 9 and 7 

Your gold has done its job! 👍

[vand]

25 minutes ago, KDave said:

The ounce I sold I intend to buy back at some point but holiday comes first, I only get to take my 8 and 6 year old away once before they are 9 and 7 

Best case I buy the ounce back for a little bit less than I sold and win the squiggly line game. Worst case I spend a bit more on the difference as we enter the bull market and I will be very happy to do so, for the implications such a price movement has. Either way, I am with you brother, onwards to victory and 500% gains  

Don't you have enough cash on hand to meet your short term needs? If so, why are you liquidating your PMs? 

I've said more than once that I consider not having enough cash the #1 mistake that most stackers make. When you need to sell your assets to cover short term expenses then it comes with both the lottery of whatever the short term market fluctuation is going to be, but also the very real agony of decisions to make further down the line.. do I get back in if the price is higher? or if the price is lower, do I wait longer in the hope they might go even lower? By constantly discretionary selling and buying you expend a lot of finite mental energy worrying on the short term price movement, leaving less of it to focus on the long term.

[HawkHybrid]

25 minutes ago, vand said:

Don't you have enough cash on hand to meet your short term needs? If so, why are you liquidating your PMs? 

I've said more than once that I consider not having enough cash the #1 mistake that most stackers make. When you need to sell your assets to cover short term expenses then it comes with both the lottery of whatever the short term market fluctuation is going to be, but also the very real agony of decisions to make further down the line.. do I get back in if the price is higher? or if the price is lower, do I wait longer in the hope they might go even lower? By constantly discretionary selling and buying you expend a lot of finite mental energy worrying on the short term price movement, leaving less of it to focus on the long term.

 

it's not like that. unlike silver, gold is also a way

of saving money.

there is nothing wrong with buying dec 2015

and selling some months later.

buying dec 2016 and selling some months later.

buying dec 2017 and ...

buying dec 2018...

do you see a trading trend?

 

it's like you're against people turning a profit?

 

why are you telling people who have made better

trading judgements than yourself, that they are

getting it wrong?

 

HH

[Roy]

But there is no profit!

The only increase is down to the the fact that sterling is dying.

An ounce of gold in 2015 will buy you the same as an ounce of gold today.

What it has done is save that purchasing power, putting £750 in the bank in 2015 means you'll have £750 and 12p in the bank today and that won't buy much.

But once it's gone, it's gone.

Gold seller remorse is real. There's probably a local group near you, check the Yellow pages or try the Samaritans 😁

 

[KDave]

38 minutes ago, vand said:

Don't you have enough cash on hand to meet your short term needs? If so, why are you liquidating your PMs? 

I've said more than once that I consider not having enough cash the #1 mistake that most stackers make. When you need to sell your assets to cover short term expenses then it comes with both the lottery of whatever the short term market fluctuation is going to be, but also the very real agony of decisions to make further down the line.. do I get back in if the price is higher? or if the price is lower, do I wait longer in the hope they might go even lower? By constantly discretionary selling and buying you expend a lot of finite mental energy worrying on the short term price movement, leaving less of it to focus on the long term.

That is very true, I agree. What I did is a gamble based on where I think the price is going, we will see if it comes back to former resistance level or not by Christmas. The cash reserves are replenished, the holiday is booked, fair enough I had not planned the holiday but by November gold will have decided whether to punish or reward me at the next purchase and whether selling a little at the ATH in sterling was a good idea or not. I agree its not good practice, I probably won't do it again  

[sovereignsteve]

If you're just buying bullion you are making a play on spot  price and GBP:Au currency pair specifically. However if you invest in gold mainly by buying and selling numismatics you can gauge your trading to when prices are advantageous, while always having the amount of metal in the bank for when price rises substantially. Personally I never sell without having something else to buy in the PM line at a better price, or at least something else in mind.

[goldmember44]

Now is a good time to get in on numismatic pieces that haven't yet been affected by the gold price rise. 

[Roy]

Correct...shhh! 😉

[Abyss]

2 hours ago, vand said:

Gold will at least quintuple in value compared to GBP over the the next cycle (5-10 years).

I am bullish on Gold but quintuple in value against any of the the major currencies is very unlikely unless there is a reset and return to a gold / partial gold standard (if it does happen it will be during weekend / bank closure and leave no opportunity for those who don't have PMs to buy any at current prices).

Ten years long time and considering everything that is going on this may happen in the next decade.

2 hours ago, vand said:

Join me, or fall by the wayside trying to 2nd guess the squiggles. 

Depends definition of the squiggles and how you choose trade those squiggles. Physical metals yes very hard to time the market and get it right but using paper contracts provided know what your doing it can be highly profitable speculating on those squiggles.

[vand]

31 minutes ago, Abyss said:

I am bullish on Gold but quintuple in value against any of the the major currencies is very unlikely unless there is a reset and return to a gold / partial gold standard (if it does happen it will be during weekend / bank closure and leave no opportunity for those who don't have PMs to buy any at current prices).

Ten years long time and considering everything that is going on this may happen in the next decade.

Depends definition of the squiggles and how you choose trade those squiggles. Physical metals yes very hard to time the market and get it right but using paper contracts provided know what your doing it can be highly profitable speculating on those squiggles.

 

500% is a realistic target for any bull market worth its name.

The 1999-2011 bull market saw a 588% increase against USD

The 1971-1980 bull market saw a 1680% increase against USD

These were periods when it was a good idea to be heavy in precious metals. Imagine if you had sold your PMs in 1973 or 2003. You would have netted the breakout but then missed out on at least the bulk of thebull  market.

[goluckystayhappy]

Do you think when spot increases greatly the premium on the collectable coins will shrink. If a bullion sov is say £900 will people be paying say £2700 for a 1989 proof.

 

[Stu]

41 minutes ago, vand said:

 

500% is a realistic target for any bull market worth its name.

The 1999-2011 bull market saw a 588% increase against USD

The 1971-1980 bull market saw a 1680% increase against USD

These were periods when it was a good idea to be heavy in precious metals. Imagine if you had sold your PMs in 1973 or 2003. You would have netted the breakout but then missed out on at least the bulk of thebull  market.

Ah, back to Gordon Brown again, the economic genius.

[Abyss]

@vand don't think we are in a Bull market. IMHO I think get to $1540 draws in a lot more interest on the way up and the central banks with aid commercial banks will try to manipulate the spot price significantly lower (maybe even below $1050). The banks will try force all the weak hands out of the market and then setup and be ready for the next bull market.

Question can banks manipulate price of the physical with paper alone without selling physical into the market. Central Bank Gold Agreements stopped selling gold since 2012 (Gordon Brown sold appease central banks and commercial banks).

https://www.gold.org/what-we-do/official-institutions/central-bank-gold-agreements

Unable to manipulate price because constant physical demand China/Russia/India and other central banks then yes we in a bull market and only one way price can go. We don't know what will happen in the future. I am waiting for sustained sell off (couple of months) in Gold gauge how strong sellers (manipulators) are and unable to break key levels then buy some more physical gold. Easy strategy bought Gold $1200 to sit and wait it out but to enter the physical market now is a bit risky IMHO.

 

[HawkHybrid]

https://www.youtube.com/watch?v=CvkK-_mEoKI

 

illuminatisilver with some data.

 

HH