Gold Monitoring Thread £ GBP only

[SidS]

1 minute ago, James32 said:

Back to bed grandpa. Let's get you settled in.

But I just got up from my afternoon nap!

[Spyder]

9 minutes ago, James32 said:

Back to bed grandpa. Let's get you settled in.

I thought you were only a couple of years behind him

[James32]

2 minutes ago, Spyder said:

I thought you were only a couple of years behind him

Feel like it most days.

[BLOOMMAN101]

[Upsidedown]

1687, going the right way again.

1700 by midnight!! Come on!!

[Paul]

He should come back to share the ATHs joys of this week 

[Upsidedown]

Just now, Paul said:

He should come back to share the ATHs joys of this week 

He meant £400/sov

Hail king wong

[BLOOMMAN101]

 

Kitco News) - China has extended its continuous gold purchase record after the central bank bought another 12 tonnes of precious metal last month.

Quoting the latest data from the People’s Bank of China, Krishan Gopaul, market analyst at the World Gold Council, said China’s gold reserves now total 2,257 tonnes.

“This is now 16 consecutive months of growth for PBoC gold reserves,” Gopaul said in a comment on social media.

China’s current buying frenzy is now on par with its 2015 streak, which lasted 16 months but skipped one month. The amount of gold China has bought in the last 16 months has well surpassed its previous shopping spree. China has purchased 297 tonnes of gold since November 2022

However, despite its shopping spree, gold still represents slightly more than 4% of its total reserves. The low foreign reserve ratio is one reason why analysts expect China to continue buying gold for the foreseeable future.

“I would bet that central banks are not going to relent on buying gold because it makes less and less sense owning other people's currencies in a growing disaggregated world, filled with uncertainty,” said Ryan McIntyre, Managing Partner at Sprott Inc., in a recent interview with Kitco News.

China’s latest reserve update comes as gold prices have seen a significant rally, rising to record highs above $2,160 an ounce. Many analysts have said that insatiable central bank demand has been a key factor in gold’s ability to hold critical support above $2,000 an ounce. 

https://www.kitco.com/news/article/2024-03-07/peoples-bank-china-buys-12-tonnes-gold-february-extends-record-shopping

[Paul]

11 minutes ago, BLOOMMAN101 said:

 

@James32 has finally got some competition at last 

[CANV]

Bonds are falling in yield terms as well. UK ten Year money is below 4 per cent now... 

Its more a flight to security as away from fiat..  its almost like there are few wars on and

western governments have their heads up their arse 

[AuricGoldfinger]

14 hours ago, CaptCaveMan said:

Have you done the deed to pay off the mortgage then?

 

14 hours ago, AOB said:

Was about to ask the exact same..?

I have not! I have until Nov so gambling on gold being higher - so far so good. I did sell 20 sovs in Jan to pay towards a tax bill and have sold or traded others - i think i am 60 sovs off my peak amount and not sure on 1oz coins. 
 

i have 24oz i have allocated to sell at some point before nov but timing is nerve racking lol. ATH would be nice

[sovereignsteve]

4 hours ago, Paul said:

He should come back to share the ATHs joys of this week 

He was a rising star then as well. Sigh......he was such a disappointment😄

[AOB]

17 minutes ago, AuricGoldfinger said:

 

I have not! I have until Nov so gambling on gold being higher - so far so good. I did sell 20 sovs in Jan to pay towards a tax bill and have sold or traded others - i think i am 60 sovs off my peak amount and not sure on 1oz coins. 
 

i have 24oz i have allocated to sell at some point before nov but timing is nerve racking lol. ATH would be nice

Not long now till you get the gaff paid off sir…

hmm tubes of sovs sounds appealing, though the way gold is heading they will be expensive 💸

Sell bits along the rise taking some profits and you won’t need to worry about the ATH

[BLOOMMAN101]

[BLOOMMAN101]

Something woke Palladium up

[gji25]

8 hours ago, BLOOMMAN101 said:

Something woke Palladium up

 

[9x883]

£1700 for gold this evening 🙏💖🥳🥳🥳🥳🥳🥳

[Paul]

Even silvers broke through the dizzy heights of £19oz now.

The world's gone mad ! 

[ZRPMs]

Just now, Paul said:

Even silvers broke through the dizzy heights of £19oz now.

The world's gone mad ! 

Just noticed. I was totally shocked. Very near a full 20p increase since I last looked. Reminds me of a race I was in once the speed it's increasing 

[Dalriada83]

13 minutes ago, Paul said:

Even silvers broke through the dizzy heights of £19oz now.

The world's gone mad ! 

Super Tuesday . . . UK Budget . . . State of the Union address . . . Silver goes nuts . . . just sayin.

[Paul]

7 minutes ago, ZRPMs said:

Just noticed. I was totally shocked. Very near a full 20p increase since I last looked. Reminds me of a race I was in once the speed it's increasing 

Slow and steady wins the race 

[ZRPMs]

5 minutes ago, Paul said:

Slow and steady wins the race 

Damn right, Reminds me of some crypto I bought once.  I'm just on a nostalgic roller coaster here today. 

[BLOOMMAN101]

from yesterday

 

 

[BLOOMMAN101]

[MBTPSilver]

We did (just) have a 4th consecutive UK record close last night. £1,687.76 on Wednesday, to £1,688.20 last night. Doing well in USD too. £1,700 will be an exciting close tonight if it manages it.