Gold Monitoring Thread £ GBP only

[SidS]

Back below £1800, has anyone bought the dip yet?

Quick you've got a few seconds...

[dicker]

Happy Tuesday!

 

[Booky586]

Anyone worked out what's driving up the recent rise in gold and stocks?

I thought the gold price moved conversely to the western stock markets but they've all moved up similar percentages (excluding the FT all share).

[9x883]

£1830 by Friday📈📈📈📈📈📈👀👀👀👀👀

[Deus]

£1,801.16

Edited April 2 by Deus

[BLOOMMAN101]

£1803

[Paul]

10 minutes ago, 9x883 said:

£1830 by Friday📈📈📈📈📈📈👀👀👀👀👀

 

[BLOOMMAN101]

gold is a bit of a laggard this morning

[Chronos]

4 minutes ago, BLOOMMAN101 said:

gold is a bit of a laggard this morning

But its little brother si**er is flying ...

[BLOOMMAN101]

[dicker]

Silver has got a stonk on

[dicker]

47 minutes ago, Booky586 said:

Anyone worked out what's driving up the recent rise in gold and stocks?

I thought the gold price moved conversely to the western stock markets but they've all moved up similar percentages (excluding the FT all share).

No im afraid not.  I could suggest things but I don’t honestly have a definitive rationale.  

[HonestMoneyGoldSilver]

3 hours ago, flyingveepixie said:

Gold is about to punch through the £1800 mark. .....    And no one seems to know what's driving it....🤔

22 minutes ago, Booky586 said:

Anyone worked out what's driving up the recent rise in gold and stocks?

I thought the gold price moved conversely to the western stock markets but they've all moved up similar percentages (excluding the FT all share).

14 hours ago, HonestMoneyGoldSilver said:

Well this sounds friendly:

Middle East crisis live: Iran says it holds Israel responsible for Damascus consulate attack and will ‘reciprocate when we want’ (msn.com)

£1800 gold tomorrow?

It's tomorrow!

 

 

https://www.coindesk.com/markets/2024/04/02/bitcoin-drops-over-5-as-upbeat-us-factory-data-powers-dollar-index-to-nearly-5-month-high/

DXY is up a little (0.71% in the last 5 days to 104.9) but is still way off the peak from October 2022 (113.3)

(generally speaking gold is the inverse of DXY so if DXY goes up then gold should go down and vice-versa)

 

Gold marginally moved against the DXY but the news from Syria/Iran/Israel was a counterbalance. DXY is expected to trend down this year and next (rate cuts, de-dollarization, etc)

A few stocks are up along with DXY due to US factory data beating expectations (doesn't mean it's good or bad just that it's better than analysts expected). Overall the S&P, NASDAQ and DJI are down (0.2-0.4%)

There haven't been any big sudden moves in gold - it's only up around 0.5% (USD) since last night. There's an inexorable trend which will push gold to $2300/oz sooner rather than later. There might be a dip in the summer but once the CBs start cutting rates, gold will smash $2300, then the next target is $2800+

https://www.coindesk.com/markets/2024/04/02/bitcoin-drops-over-5-as-upbeat-us-factory-data-powers-dollar-index-to-nearly-5-month-high/

Just to post that twice in case anybody missed BTC hitting the $70K cap and dropping 5% while gold and silver went up 😁

Gold = risk-OFF while BTC = risk-ON. You can make up your own mind what markets are saying when the risky asset goes down and the safe asset goes up

Gold hasn't played its hand yet, no need to get carried away by small short-term moves, it's just noise. The markets couldn't care less about the £1800/€2100 thresholds or the price of a bullion shield sov, wait until resistance turns to support above $2300

[Smiler999]

1803.15

[Gruff]

[Paul]

19 minutes ago, Gruff said:

its @James32selling them cheap gold i reckon 

[Agaupl]

Silver and platinum next 

[DisplayName]

A hidden driver may be the worsening energy insecurities for all continental European regions.

The French have lost access to their nuclear resources from their Africa ex-colonies very recently. Wagner has driven them out, claiming several gold mines in the process as well. The French would buy their energy resources at 10% of real market value and now must pay 100% value. They're about 75% dependant on nuclear energy. The midget in charge of France is posturing for war with Russia for this reason alone, although everyone knows that they can't take on the Bear. 

The French' humourless cousins, the Germans, are living the green nightmare. Much gas meant for the European mainland came through Ukraine and several key terminals were bombed the past few weeks. They've no way of supplying both industry and civilian needs coming winter. They're not in a position to go to war and are looking for a diplomatic solution.

The other regions on the continent have no independent energy policy anymore and will either pay for Germany and France, leading to social unrest, or try to save themselves, leading to political instability on the continent.

As a whole, the continent is completely unable to force concessions currently from Russia for cheap energy and there's no alternatives available. Widespread unrest is in the horizon and won't abate until the American elections are done. 

Just my 2 cents.

[James32]

13 minutes ago, Agaupl said:

Silver and platinum next 

What are those?

[Paul]

17 minutes ago, Agaupl said:

Silver and platinum next 

2 minutes ago, James32 said:

What are those?

☝️ ☝️ ☝️ ☝️ ☝️

The correct answer  

[Dankanugget]

32 minutes ago, Paul said:

☝️ ☝️ ☝️ ☝️ ☝️

The correct answer  

The new bottom is here

[James32]

£1801

I've seen it now with my own eyes.

Hello Lambo..

[Smiler999]

1803.96 new high

[Anteater]

Just now, James32 said:

£1801

I've seen it now with my own eyes.

Hello Lambo..

Your strategy of cornering the market finally paid off! 

[James32]

£1804

Lambo and coffee