Gold Monitoring Thread £ GBP only

[Orpster]

4 minutes ago, 9x883 said:

What's a sovereign right now?

 

[BLOOMMAN101]

It really is stuck at $2099 lol

[James32]

11 minutes ago, Goldbrittanialover said:

Hopefully will close above the neckline for the head and shoulders today, if it does then I think we have a confirmed breakout on our hands :D.

I don't have dandruff. 

[Goldbrittanialover]

5 minutes ago, 9x883 said:

Why the spike? What's happened in over the past 5 days? Any news ahead that could push the price down?

US dollar on the defensive, had disappointing US macro data, also think Fed is less hawkish so maybe a tailwind for gold. 

[BLOOMMAN101]

silver having a better day 

[SidS]

12 minutes ago, Orpster said:

7.99gram of 22ct gold coin mate, usually with a king or queens head on one side and some bloke on a horse on the other, occasionally a shield 

Have you been watching Airplane!?

😁

[Orpster]

2 minutes ago, SidS said:

Have you been watching Airplane!?

😁

[James32]

15 minutes ago, Orpster said:

7.99gram of 22ct gold coin mate, usually with a king or queens head on one side and some bloke on a horse on the other, occasionally a shield 

Not necessarily, mine all weigh 6 grams and look like they were made yesterday. 

[BLOOMMAN101]

leaves on the track   time for tea and biccys imho

[Orpster]

Just now, BLOOMMAN101 said:

leaves on the track

It really annoys me the plural noun of leaf is leaves, irrelevant in this thread, but still 

[silversky]

28 minutes ago, 9x883 said:

Why the spike? What's happened in over the past 5 days? Any news ahead that could push the price down?

I think there's still a bit of revaluation from all the inflation pushing this up.  Insurance premiums for car insurance are through the roof.  I know two people who just had 50% increases!!  Obviously that's nothing to do with real accidents going up... more to do with the rise in the price of champagne and hookers for the brokers.  But it indicates that there's a delayed revaluation of fiat still underway.  The inflationary forces are still real, it just takes time for each step in the realisation process to sink in.

I'm expecting gold to run through this top, and then this price to become a new floor

[Smiler999]

1658

[9x883]

hello 59

Edited March 4 by 9x883

[HonestMoneyGoldSilver]

53 minutes ago, silversky said:

I think there's still a bit of revaluation from all the inflation pushing this up.  Insurance premiums for car insurance are through the roof.  I know two people who just had 50% increases!!  Obviously that's nothing to do with real accidents going up... more to do with the rise in the price of champagne and hookers for the brokers.  But it indicates that there's a delayed revaluation of fiat still underway.  The inflationary forces are still real, it just takes time for each step in the realisation process to sink in.

I'm expecting gold to run through this top, and then this price to become a new floor

True but one of the major factors in insurance premiums is the cost of repairs, courtesy cars and brand new cars. The supply chain issues and wage inflation are making it radically more expensive to insure vehicles and technology. There's an increasing trend of fraudulent insurance claims, something that's been on the rise for years. Somebody has to pay for it all and as usual, it's us

EDIT: I forgot about EVs!! Many dealerships and major companies (like Toyota) are refusing to sell or service EVs due to the exorbitant costs. For a dealership to add EV maintenance and repair costs >$1 million. The SJWs in their wokemobiles are forcing the rest of us to pay higher insurance premiums due to their virtue signalling

I agree the inflationary wave is far from over and we need a recession to complete the process. Apparently the recession in the UK is "already over" despite our GDP per capita falling quite significantly, along with other nations like USA, Australia. In the UK our GDP is basically flat but we increased the population by millions. Our GDP per capita is falling in direct proportion to every new arrival, most of whom are a net negative to the taxpayer. 

According to the central bankers it takes up to 18 months for the higher rates to fully filter into the economy so while rates are currently at recent historical highs (the average historical rate of about 5%), we won't see the full effects until 2025. It's been my position for a while that things will shake out in the middle to the end of 2025

Look at what's happening in April 2024. Everything is going up, insurance, rates, minimum wage, Royal Mail, utilities (including internet) and groceries

Now that we've taken $2100 it could be off to the races for gold and for silver. This rally could be perpetual over several years, unlike the boom and bust in crypto:

 

Edited March 4 by HonestMoneyGoldSilver
Forgot about the woke tax

[Sovhead]

£1660

[HonestMoneyGoldSilver]

3 minutes ago, Smiler999 said:

1658

Great minds we must have taken these screenshots at exactly the same time 😂

[Upsidedown]

1 hour ago, Fenlander1 said:

Round gold thing with a horse on it 

Sounds like my.. oh this isn't NBS

Nvm

[Sovhead]

And in a flash £1661

£1662 crazy speed 

[Upsidedown]

Let's not forget silver is up 30p the biggest increase for 100 years

[Smiler999]

4 minutes ago, HonestMoneyGoldSilver said:

Great minds we must have taken these screenshots at exactly the same time 😂

I thought you pinched mine 😂

[katyc]

2 hours ago, MBTPSilver said:

£1,650 hit! Seems to still have some momentum so far today.

That's sooooooo 2 hours ago

£1660+

 

[katyc]

I'm gonna keep posting that dance. Until around Friday when it's back to £1600 🙄 (hope I'm wrong about that!)

[katyc]

woah.... it's fun this. £1664

[Chronos]

Central Bank Gold Buying Expected to Remain Hot Over Next Several Years:

https://www.moneymetals.com/news/2024/02/26/central-bank-gold-buying-expected-to-remain-hot-over-next-several-years-003006

[Chronos]

2 hours ago, theman73 said:

me too I want the gold to go up to sell all I have left