Gold Monitoring Thread £ GBP only

[SidS]

I wonder if carbon emissions have gone back up yet? Asking for a friend... 😁

[BLOOMMAN101]

10 minutes ago, SidS said:

I wonder if carbon emissions have gone back up yet? Asking for a friend... 😁

Cocoa is the one to watch mate

[Chronos]

US Economic Conditions Scream "Buy Gold":

https://www.zerohedge.com/economics/us-economic-conditions-scream-buy-gold

[Spyder]

Such a sad story and not once did these ungrateful nieces say anything nice about their uncle. They couldn't care less and just what they can do with the money. 

The uncle should have squandered it all and enjoyed his life. 

 https://www.youtube.com/watch?v=mm8YgFNVteQ

[Paul]

1 hour ago, Chronos said:

US Economic Conditions Scream "Buy Gold":

https://www.zerohedge.com/economics/us-economic-conditions-scream-buy-gold

Zerohedge, bullish on gold well ??

I'm shocked, SHOCKED

well not that shocked 

[Gruff]

 

 

[gji25]

6 hours ago, Gruff said:

 

 

Well thats 306 tonnes more than america 😃

[dicker]

12 hours ago, Paul said:

Zerohedge, bullish on gold well ??

I'm shocked, SHOCKED

well not that shocked 

It’s a very good article, and summed up well in the last paragraph. 
 

But the FOMC will be interesting at 1800 U.K. time   

 

[dicker]

Gold steady GBP1696

Bitcoin continues to decline at USD62k.  
 

[HonestMoneyGoldSilver]

22 hours ago, MBTPSilver said:

It's holding up well still. Could see some movement this week with interest rate meetings taking place. No rate change expected, but if the language from the Fed turns a bit dovish there could be some further moves upward for gold/silver. That would be Wednesday evening for us in Old Blighty.

Traders are betting on the opposite (they're betting on a more hawkish Fed). Last time I posted I was complaining about said traders who predicted a rate cut in March, which was never going to happen. That didn't stop them briefly weighing on the price of gold and silver. A similar thing could be about to unfold as the traders who were betting on March moved to May. Now the can has been kicked until June at the earliest (55% chance of cuts) from May (9% chance of cuts). Sorry, my bad, in the last 5 minutes the May odds have dropped to 5.8% for rate cuts and the June odds have increased to 60%:

CME FedWatch Tool - CME Group

There could possibly be a buying opportunity in the summer depending on how the rate cut winds blow, the summer being the seasonally low period for metals (thanks to @Bumble for the chart):

[HonestMoneyGoldSilver]

16 minutes ago, dicker said:

It’s a very good article, and summed up well in the last paragraph. 
 

But the FOMC will be interesting at 1800 U.K. time   

I'm going against the crowd but I disagree with the last paragraph in this particular monetary iteration in the near term anyway, as historically credible and inevitable as the conclusions may be. Mr. Powell appears determined to "save the dollar" during his tenure. I believe we will know when the dollar is going down with one clear signal - the resignation of Jerome Powell. He wants to jump ship before they destroy the dollar so history can't accuse him of being responsible. We might possibly expect his resignation before the US elections. Just a thought.

[Bumble]

Historically, the Fed do not like to change interest rates within 2 to 3 months of an election, because it makes them look partisan. So, if rates are going to be cut, the summer is the last opportunity.

Not many people are talking about GBP, but by the end of the year there will be a Labour government in the UK, and this is not Tony Blair's Labour. Almost anything this government wants to do will send GBP plunging downwards. I honestly would not be surprised to see GBP below parity with USD within 3 years. Now is the time to get your savings out of GBP and into something else. Even USD would be a much better choice. CHF might be even better. Gold should be good. US blue chip stocks should be OK.

[Paul]

2 minutes ago, Bumble said:

Historically, the Fed do not like to change interest rates within 2 to 3 months of an election, because it makes them look partisan. So, if rates are going to be cut, the summer is the last opportunity.

Not many people are talking about GBP, but by the end of the year there will be a Labour government in the UK, and this is not Tony Blair's Labour. Almost anything this government wants to do will send GBP plunging downwards. I honestly would not be surprised to see GBP below parity with USD within 3 years. Now is the time to get your savings out of GBP and into something else. Even USD would be a much better choice. CHF might be even better. Gold should be good. US blue chip stocks should be OK.

Diane 'abacus' Abbott as chancellor would be hilarious to watch. Think of guffs and mistakes 

[Paul]

Think I'll keep buying gold, as we continue to circle drain during Labours "turn at the controls"

[HonestMoneyGoldSilver]

19 minutes ago, Bumble said:

Historically, the Fed do not like to change interest rates within 2 to 3 months of an election, because it makes them look partisan. So, if rates are going to be cut, the summer is the last opportunity.

Not many people are talking about GBP, but by the end of the year there will be a Labour government in the UK, and this is not Tony Blair's Labour. Almost anything this government wants to do will send GBP plunging downwards. I honestly would not be surprised to see GBP below parity with USD within 3 years. Now is the time to get your savings out of GBP and into something else. Even USD would be a much better choice. CHF might be even better. Gold should be good. US blue chip stocks should be OK.

Well who knows, historic things happened last time Trump was involved. The Fed and wider Fed banking system heavily favour the Democrats, with the possible exception of Powell himself. Last time Trump ran for POTUS and lost to Biden, the big tech and finance CEOs openly boasted about manipulating the election in favour of Biden - they de-platformed Trump and ran a propaganda campaign for the Democrats. It was the first time in the history of the United States that a VP (Kamala "The Cackling One" Harris) hadn't given a press conference prior to the election. Biden did very little public speaking too. Hmm, I wonder why? 

When Trump succeeded Obama it was after the longest period of dovish Fed policy in living memory. When Trump got into the Oval Office the Fed immediately reversed course and went hawkish. Another historical precedent was set when Trump called out the Fed on TV over their abrupt U-turn. This pressured the Fed into going back to money printing mode

I'll be surprised if the Fed doesn't cut rates at least twice before the election (quarter points) and it might be later than June. Powell and the Fed have tied their hands so if inflation is still above 2% and the labour market is tight, they can't cut in June without destroying their credibility (which they imagine is still in tact). Powell doesn't want to cut so he will resign first. 

The Fed will do everything they feasibly can to stop Trump getting into the Oval Office. There's no point in them trying to hide their bias after what they did last time and their subsequent actions under the Biden Administration. Everybody knows the state apparatus in the USA is targeting Trump for political reasons, highlighted by the fact Joe Biden hasn't been arrested yet and we don't hear about Hunter, Russia and China 24/7 the way we hear about Trump's court cases

Opinionated I know but I think it's corrupt as it gets. They don't want Trump because Trump will be anti-globalist and anti-war, hurting the prospects of America's richest CEOs who rely on China and overseas manufacturing for their operating margins (all of the FAANG+). There's the military-industrial complex who plainly want a perpetual war with Russia. There are hawks (neo-cons) who want to start a new war with Iran and who are itching to get involved with China. Trump's first move as POTUS will be to end the Russo-Ukraine war and he won't start any new wars. That is the opposite of Obama - the only person in history to win a Nobel Peace Prize and drop a bomb on another Nobel Peace Prize winner (Doctors Without Borders in 2009). It's the opposite of Biden too, under whose Administration the Ukraine war was provoked and allowed to develop, with overtures of peace declined (Boris Johnson acting on behalf of the MIC)

The big picture is about American billionaires making more billions and the American war machine making more wars. Trump is the enemy of both and there's no limit to what they will do to stop him. As Tucker Carlson asked Trump directly to his face, "Aren't you worried they will assassinate you?". Trump should be worried IMHO

[HonestMoneyGoldSilver]

55 minutes ago, Bumble said:

Historically, the Fed do not like to change interest rates within 2 to 3 months of an election, because it makes them look partisan. So, if rates are going to be cut, the summer is the last opportunity.

Not many people are talking about GBP, but by the end of the year there will be a Labour government in the UK, and this is not Tony Blair's Labour. Almost anything this government wants to do will send GBP plunging downwards. I honestly would not be surprised to see GBP below parity with USD within 3 years. Now is the time to get your savings out of GBP and into something else. Even USD would be a much better choice. CHF might be even better. Gold should be good. US blue chip stocks should be OK.

Sir Queer Starmer might not know what a woman is but he does know how to sell out the UK to Brussels. The top priority for Sir Queer is to get the UK back into the EU, who will welcome us back with open arms. It's exceedingly difficult for that to happen as the UK has signed mutually exclusive trade deals with other nations, but it's not impossible. Markets would react very favourably to the UK re-joining the EU and if that were to happen, the GBP-USD rate could revert to what it was before Brexit (1.4+). There's also a narrative that if Trump gets into power and the Fed aggressively cuts rates, that the USD will drop faster than GBP even with a Labour government

All sounds like a good excuse to buy more precious metals regardless of how it shakes out

[Paul]

4 hours ago, HonestMoneyGoldSilver said:

Sir Queer Starmer might not know what a woman is but he does know how to sell out the UK to Brussels. The top priority for Sir Queer is to get the UK back into the EU, who will welcome us back with open arms. It's exceedingly difficult for that to happen as the UK has signed mutually exclusive trade deals with other nations, but it's not impossible. Markets would react very favourably to the UK re-joining the EU and if that were to happen, the GBP-USD rate could revert to what it was before Brexit (1.4+). There's also a narrative that if Trump gets into power and the Fed aggressively cuts rates, that the USD will drop faster than GBP even with a Labour government

All sounds like a good excuse to buy more precious metals regardless of how it shakes out

Don't forget his links to the trilateral commission, he's a multiple bilderberg attendee and had connections to Jeffrey 'I really honestly did commit suicide ' Epstein 

[Gruff]

56 minutes ago, Paul said:

Don't forget his links to the trilateral commission, he's a multiple bilderberg attendee and had connections to Jeffrey 'I really honestly did commit suicide ' Epstein 

He also quashed the investigations into Saville when he was QC

[Paul]

7 minutes ago, Gruff said:

He also quashed the investigations into Saville when he was QC

C**ts of a feather. Nonce together 

Edited March 20 by Paul

[Gruff]

Gold back to doing it's usual FOMC pre-meeting bounces

 

[dicker]

1702.  

[Sovhead]

ATH £1706

[bluemoon]

What on earth is it doing.

[MrStacker]

All I got to say is

I'm a buyer not a seller ffs!

[James32]

Let er rip....