Gold Monitoring Thread £ GBP only

[Lancashire1]

44 minutes ago, LemmyMcGregor said:

Maybe he was interested in making a 100% discounted purchase on the next visit...

Funny enough, I replied to this topic in another thread just a few hours ago. I'll reply rather than point to the thread to add some more.

I don't see quarters picking up any time soon, the premiums are too high which create a catch 22 situation, premiums won't go down until people start buying and people won't buy them until premiums come down, many dealers don't even stock them. Off the top of my head, at present the best prices are probably around £125 for a quarter, £200 for a half and £395 for a full one, the quarter is way off, any stacker will be better off going at least for a half, you can find 1/10oz for £180 which are still a better option. Personally I'd rather do a 1/10th Krug or a half sov every other month in stead of budgeting for a quarter.

For quarters to become relevant we probably need to see halves raise some more, and still, they are probably too small to be considered for anything, many probably can't even see them and wouldn't want to have such a small coin. They're ridicolously tiny and people on here at times complain that they can't see details on a half, I've got two quarters and I can't tell what they are without a magnifying glass.

There was no connection to my intended visits to the aforementioned shops 🤣

With regards to the halfs...... I would always of bought full sovs.... Now with the price I automatically buy halfs. I would never buy quarters no matter how much the price goes up, they are just to small in the hand and feel pointless. 

[MrStacker]

It's just the beginning. The storm has yet to hit the markets properly. These are mild fluctatuons in my opinon.

[LemmyMcGregor]

25 minutes ago, Midasfrog said:

Premiums at dealers are down even though gold spot is still high.

A tube of 25 mixed sovereigns on 14/4/23 was £10,128 spot /oz was £1622

A tube of 25 mixed sovereigns on 28/12/23 is £9,865 spot /oz is £1623 

Aprils price £405 compared to todays price per sovereign £394 

Someone mentioned this a few days ago when posting a sov, I think was 400 or 405 plus postage and pointed out that you could have got a cheaper one on Atkinson. Might have been last week. Made me think that recession is hitting, at a glance I'd say that it's either dealers selling less or people selling more, possibly a combination of the 2.

Regardless, from the little I understand about the gold cycle, it goes up in time of recession and down when folks feels they've made it through, and because it doesn't feel like we're nowhere near the end up, we're off to the moon, and some more.

Should we open a thread for some betting on the price of gold by the end of the year? 🤣

[SiCole]

45 minutes ago, Midasfrog said:

Premiums at dealers are down even though gold spot is still high.

A tube of 25 mixed sovereigns on 14/4/23 was £10,128 spot /oz was £1622

A tube of 25 mixed sovereigns on 28/12/23 is £9,865 spot /oz is £1623 

Aprils price £405 compared to todays price per sovereign £394 

Simple supply and demand unfortunately.

Like a different world from 8 months ago. 

[katyc]

People are holding off - waiting for spot to drop - but I believe gold is setting a new low - and when people realise this - the spending will start again.

(Although there's a very good chance of a pre-recession liquidity crisis which can hammer it down for several months. Opportunities for traders I guess, but anyone holding strong will win long term regardless of what happens).

[Midasfrog]

It's been a year of big dips and big high's no guessing what it will do next 😃

[jultorsk]

I think @katycis nailing it - buyers need to adapt to the 'new normal' baseline.

I was buying Sovs from auctions all year long from the UK. In the summer it was not unusual to see 5-7%++ premiums, now just before Christmas they were practically negative (I don't pay VAT). The cheapest gold coin I purchased this year from UK was two weeks ago - a 1/4 oz Eagle went in a public auction for -5.5% (under spot - yes, it was genuine; phew!).

 

[Chronos]

Gold in 2024:

https://www.lewrockwell.com/2023/12/alasdair-macleod/gold-in-2024/

[Chronos]

7 hours ago, LemmyMcGregor said:

Should we open a thread for some betting on the price of gold by the end of the year? 🤣

If you gonna provide a prize for the winner, then yeah, why not?

[Chronos]

Walmart has started selling gold and silver (as someone said on X: Walmart is not selling bullion direct to consumer. They are being sold by @APMEX @usmint etc looks like they are just trying to capture as much exposure as possible for @Costco @Walmart customers):

https://www.zerohedge.com/commodities/first-costco-now-walmart-major-retailers-now-offer-gold-bars

https://www.walmart.com/search?q=Gold

https://www.walmart.com/search?q=silver

Edited December 29, 2023 by Chronos

[modofantasma]

7 hours ago, Midasfrog said:

It's been a year of big dips and big high's no guessing what it will do next 😃

From that chart gold has been very steady this year... It's risen about 5% over the year... At the lows was down 3% or so... A lot less volatility or fluctuations that many shares

[HonestMoneyGoldSilver]

8 hours ago, SiCole said:

Simple supply and demand unfortunately.

Like a different world from 8 months ago. 

I was watching SilverDragons and the coin shop owner, Harry, has said gold is flooding in to his shop and he's buying a lot of it but selling comparatively little. His explanation was the psychological $2000/oz level which is maybe similar to the £400/sov price. People that bought gold years ago or even in 2019 are very happy to sell at today's prices but fewer of the long-term stackers are happy to buy at these prices. Like Adrian said though, $2000/oz could well be the new floor and a year from now we'll all think £400/sov is cheap

 

[flyingveepixie]

9 hours ago, katyc said:

I believe gold is setting a new low

Instinct and the evidence of my own eyes looking at the world around me also leads me to believe this. Manipulators may try as they will to bring the price down, but world events dictate otherwise, and with everything going to hell in a handcart (when was the last time anyone actually heard some really good and positive news..?) the fiat value of gold will continue to rise with only minor fluctuations.

£1625.08

 

 

Edited December 29, 2023 by flyingveepixie

[mik]

Robert Kiyosaki was chatting to some guy who said...

How long does it take to fill a stadium with drops of water?, if you start at 1 drop the first minute, then 2 drops the second minute, 4 drops the third, 8 the fifth etc.

The answer is 50 minutes, not really surprising. That exponential grain of rice on a chessboard thing. 

What I found interesting was how full the stadium would be after 45 minutes, and the answer was 7%. The guy went on to explain that global debt was exactly the same thing.

So I'm imagining this inevitable juggernaut coasting along, and it feels like something that could be controlled, contained, reversed, soft-landing. However you want to put it...until the 45minute mark then the hyperinflation curve hits, and it'll be tsunami-like.

And I wonder how many minutes are we into this scenario?

[Derv]

6 minutes ago, mik said:

Robert Kiyosaki was chatting to some guy who said...

How long does it take to fill a stadium with drops of water?, if you start at 1 drop the first minute, then 2 drops the second minute, 4 drops the third, 8 the fifth etc.

The answer is 50 minutes, not really surprising. That exponential grain of rice on a chessboard thing. 

What I found interesting was how full the stadium would be after 45 minutes, and the answer was 7%. The guy went on to explain that global debt was exactly the same thing.

So I'm imagining this inevitable juggernaut coasting along, and it feels like something that could be controlled, contained, reversed, soft-landing. However you want to put it...until the 45minute mark then the hyperinflation curve hits, and it'll be tsunami-like.

And I wonder how many minutes are we into this scenario?

Great analogy & something easy to picture in the mind. I too wonder how far along we are....

[JohnA1]

1 hour ago, mik said:

Robert Kiyosaki was chatting to some guy who said...

How long does it take to fill a stadium with drops of water?, if you start at 1 drop the first minute, then 2 drops the second minute, 4 drops the third, 8 the fifth etc.

 

Exponential growth (or decay)

The human mind is poorly equipped to deal with it - linear movements is where it excels

That's why variations of pyramid schemes keep working over and over

[Stacktastic]

On 28/12/2023 at 09:30, GoldDiggerDave said:

£1622........ £1600 is feeling more like the "new normal"      

It needs to formulate a new support I think as so many people have been burnt over the last few years. 
$3000 gold next year I recon looking at its strength and macro. 

[Stacktastic]

 

12 hours ago, Derv said:

Great analogy & something easy to picture in the mind. I too wonder how far along we are....

Kiosaki. the guy who made millions selling a book on getting rich.
I wonder who he stole that off. That guy is such a grifter  
Its the chess board grain of rice guy I bet. 
I have read a lot of his books - good content & a great read to be fair. 

He apparently flew into enemy territory to buy gold, risking the lives of his crew. 
He had no idea what spot value was and was bartering with a dealer for a way lower price. 
his rich dad in the USA said everything changed, but had no clue about spot gold price?? 
That is day one in physical gold school seriously? 

Ultimate short sighted man IMO and always wanting more and stuck in EGO.  
Rich now I bet not someone I would want to become going forward. 
That man is the perfect person to become president. says it all. 

Edited December 29, 2023 by Stacktastic

[mik]

2 hours ago, Stacktastic said:

 

Kiosaki. the guy who made millions selling a book on getting rich.
I wonder who he stole that off. That guy is such a grifter  
Its the chess board grain of rice guy I bet. 
I have read a lot of his books - good content & a great read to be fair. 

He apparently flew into enemy territory to buy gold, risking the lives of his crew. 
He had no idea what spot value was and was bartering with a dealer for a way lower price. 
his rich dad in the USA said everything changed, but had no clue about spot gold price?? 
That is day one in physical gold school seriously? 

Ultimate short sighted man IMO and always wanting more and stuck in EGO.  
Rich now I bet not someone I would want to become going forward. 
That man is the perfect person to become president. says it all. 

He's a grifter, but he got me thinking about money 💰 in a different way...

Edited December 29, 2023 by mik
typo

[Stacktastic]

11 hours ago, mik said:

He's a grifter, but he got me thinking about money 💰 in a different way...

YEAH - Not watched his radio show for years so cant really judge. 

The indian guy from minority mindset is fabulous & the video above is very right about asians. 
As a lover of life, a lot of them get so blinded by it all they miss out on so much from my observations. 
I would not mind being that savvy though - Im certainly installing a bit of that knowledge and discipline into my children.   

https://www.youtube.com/@MinorityMindset

[JohnA1]

16 hours ago, Stacktastic said:

 

Kiosaki. the guy who made millions selling a book on getting rich.
I wonder who he stole that off. That guy is such a grifter  
Its the chess board grain of rice guy I bet. 
I have read a lot of his books - good content & a great read to be fair. 

He apparently flew into enemy territory to buy gold, risking the lives of his crew. 
He had no idea what spot value was and was bartering with a dealer for a way lower price. 
his rich dad in the USA said everything changed, but had no clue about spot gold price?? 
That is day one in physical gold school seriously? 

Ultimate short sighted man IMO and always wanting more and stuck in EGO.  
Rich now I bet not someone I would want to become going forward. 
That man is the perfect person to become president. says it all. 

I remember someone who looked closely into his background said that the whole rich/poor dad thing is made up. His biological rich dad wasn't poor at all.

As for the helicopter gold story, who knows and who cares eh, others were burning down villages because they might have been vietkongs (bad people)

But that doesn't make the story useless or irrelevant, just fabricated embelished.  And does it really matter?

[Roy]

4 hours ago, JohnA1 said:

vietkongs

Viet Cong.

C for Commie 

[jultorsk]

9 minutes ago, Roy said:

Viet Cong.

C for Commie 

Group(s)	National Liberation Front of South Vietnam  Provisional Revolutionary Government of the Republic of South Vietnam  Central Office for South Vietnam  Liberation Army of South Vietnam  Alliance of National, Democratic and Peace Forces

 

[JohnA1]

55 minutes ago, Roy said:

Viet Cong.

C for Commie 

I thought they were Hongkongs, but for Vietnam, lol

Most americans can't find Paris on a map if you ask them, let alone vietnam. Yet they were sent there to fight for their country, defend democracy

[CANV]

1 hour ago, JohnA1 said:

I thought they were Hongkongs, but for Vietnam, lol

Most americans can't find Paris on a map if you ask them, let alone vietnam. Yet they were sent there to fight for their country, defend democracy

off piste a bit,  but I met 5 yanks from DC today on the tube at kings cross.. just been told no eurostar for the new year part of their euro trip..  no Paris for them..    

they were heading back to Oxford. I told them Oxford is better than Paris but it didn't cheer them up..

mind you.  sod them I was on my way to Barnet to see southend lose 1-0  mutter