Gold Monitoring Thread £ GBP only

[Chronos]

16 minutes ago, dicker said:

For his has risen!

Jezus looks up and says: It's raining gold, hallelujah, it's raining gold ...

[refero]

1 hour ago, pricha said:

never been a better time to buy gold

Thats referred to dealers, not buyers

[Paul]

1 minute ago, Chronos said:

You don't need wonger when you have CoinCupboard claiming that the gold is going to 18 today ...

£18,000oz sounds good to me.

Tomorrow would be a visit to safe deposit box, First class rail ticket down the east coast to Hatton garden then one way ticket to the far east to enjoy my early retirement 

[modofantasma]

1 hour ago, pricha said:

I never understood the logic of never been a better time to buy gold when its at an all time high ? Surely the better time when it was at a all time low 😆 

Ahhh... But... Better for the seller (who likely/ presumably bought the current stock at a lower price) or better for the buyer? 

[CoinCupboard]

Either just eighteen pounds or eighteen hundred. Both would have their benefits. 

[Chronos]

50 minutes ago, Paul said:

then one way ticket to the far east to enjoy my early retirement 

I wish you the safe trip. Hope you will write to us when you get there. 

I hear that North Korea is beautiful in this time of the year.

Edited April 1 by Chronos

[Midasfrog]

1 hour ago, pricha said:

I never understood the logic of never been a better time to buy gold when its at an all time high ? Surely the better time when it was at a all time low 😆 

I get this though " The time to buy gold is now " todays high is tomorrows low 🙂

[SidS]

What happens though if today's high is yesterday's much higher?

I'm not saying this is the case, but whilst most analysis focuses on the gold prices from 1974-1980 and 2000-2011, there's rarely any mention of 1981-1999. The 90s surely have lessons to teach us also in that markets are cyclic... What goes up can come back down. From our current vantage point that does seem very unlikely of course but it is not impossible.

[davejones]

What happens when China sells at record levels instead of buying?

[Paul]

Just now, davejones said:

What happens when China sells at record levels instead of buying?

Why would China sell ? - when they are looking to gold back the Yuan 

BRICS nations are de-dollarising, as $ USD is being printed into oblivion 

[PapaLazarou]

1 minute ago, davejones said:

What happens when China sells at record levels instead of buying?

"If" ≠ "When".

[treetop1280]

Nerd question time ???? , why has gold started to go up in the last couple of weeks ??? 

[Dalriada83]

19 minutes ago, davejones said:

What happens when China sells at record levels instead of buying?

We ask them to use plenty of lube and please be gentle.

[MBTPSilver]

I though the market was closed today, so a nice surprise when I woke up. £1,800 at some point this week seems inevitable, probably today even!

[Zhorro]

3 minutes ago, treetop1280 said:

Nerd question time ???? , why has gold started to go up in the last couple of weeks ??? 

Good question!

As far as I can tell:

1) Expectation of interest rates coming down?  So, gold up?  But of course gold was not this high when interest rates were really low.

2) Higher oil prices are pushing up the expectation of inflation?   If this is the case, then interest rates are not going to come down?  Contradicts 1) above!

3) De-dollarization - so no real incentive for China to sell its gold.  Does China really want to sell gold and buy dollars?  Other countries are also wanting financial independence following the way the dollar was weaponised against Russia.

4) Countries that hold large amounts of their reserves in dollars are starting to worry about the rate of increase in US Government debt - and so may be diversifying.

5) Anticipation of possible turmoil in the run up to / following US (and UK) elections?

I'm sure there are other reasons as well.

[Agaupl]

[SidS]

Who says that China would have to "sell" gold for currency? It's entirely plausible that in the future they could purchase things with the gold, be that building projects, other natural resources etc.

[Agaupl]

1 minute ago, SidS said:

Who says that China would have to "sell" gold for currency? It's entirely plausible that in the future they could purchase things with the gold, be that building projects, other natural resources etc.

Exactly.. it doesn’t. Well not when it’s no favourable at least 

[cliveb13]

3 minutes ago, Zhorro said:

Good question!

As far as I can tell:

1) Expectation of interest rates coming down?  So, gold up?  But of course gold was not this high when interest rates were really low.

2) Higher oil prices are pushing up the expectation of inflation?   If this is the case, then interest rates are not going to come down?  Contradicts 1) above!

3) De-dollarization - so no real incentive for China to sell its gold.  Does China really want to sell gold and buy dollars?  Other countries are also wanting financial independence following the way the dollar was weaponised against Russia.

4) Countries that hold large amounts of their reserves in dollars are starting to worry about the rate of increase in US Government debt - and so may be diversifying.

5) Anticipation of possible turmoil in the run up to / following US (and UK) elections?

I'm sure there are other reasons as well.

These are excellent points @Zhorro & you are clearly well informed. The $ is relatively stable to £ but the debt that the US & so many countries have makes $ less attractive . If the $ isn’t attractive then gold is one of the alternatives. Of course gold dosent produce an income but a currency can & will lose value vs others if it’s debt servicing costs become unmanageable or politically tricky. 
Great points though 

C 

[Agaupl]

33 minutes ago, treetop1280 said:

Nerd question time ???? , why has gold started to go up in the last couple of weeks ??? 

It hasn’t it’s still the same. .. the USD and other currencies are worth less. Not quite worthless… but getting there. 

[SidS]

1 minute ago, Agaupl said:

It hasn’t it’s still the same. .. the USD and other currencies are worth less. Not quite worthless… but getting there. 

Getting there fast, or so it would seem.

[cliveb13]

@Agaupl that summary from Macleod is interesting about demand shift intra day 

 

I have some bullion to sell for end of tax year but when I looked find a price from a dealer to compare & set my price as -1% , I could not find anything in stock. If dealers have pre sold their next shipments at £1700 say & the price is now £1775 or whatever that is gonna stress. 
thank you 

C 

[Agaupl]

21 minutes ago, SidS said:

Getting there fast, or so it would seem.

Tbh i know us as gold holders are happy… but changes like this show a great instability. Quite worrying for the wider economy. 

Edited April 1 by Agaupl

[Agaupl]

2 minutes ago, cliveb13 said:

@Agaupl that summary from Macleod is interesting about demand shift intra day 

 

I have some bullion to sell for end of tax year but when I looked find a price from a dealer to compare & set my price as -1% , I could not find anything in stock. If dealers have pre sold their next shipments at £1700 say & the price is now £1775 or whatever that is gonna stress. 
thank you 

C 

Only if they aren’t hedging properly and frequently. It could definitely stress some dealers but most established names will have no issues. I suspect many will have been very busy this long weekend. 

[treetop1280]

9 minutes ago, Agaupl said:

It hasn’t it’s still the same. .. the USD and other currencies are worth less. Not quite worthless… but getting there. 

As it how bad ???? So your paper money is worth less , so everything you need to buy in your life seems expensive , to be honest makes me a bit sad 👎,vast majority of the population , are struggling to pay there mortgage ,  and live day today . , and not everyone can have the luxury of a bit or lot of gold ?? if  gold becomes to expensive, won’t people stop buying it , then won’t it become hard to sell ??!!