Gold Monitoring Thread £ GBP only

[Matt8v]

This is like crypto 2.0! Need to get my old rollercoaster gif out again! 

[Smiler999]

1 minute ago, James32 said:

Yes Lad... you bought all-time high(ish) we thank you for crashing the market.

Every fkn...time....lol

 

Cost average still way under current spot 

[Matt8v]

1 minute ago, Matt8v said:

This is like crypto 2.0! Need to get my old rollercoaster gif out again! 

Just needs a G on it!

[HerefordBullyun]

You have to remember those people who are shorting gold have to buy back a position  hence the spike and the shorts build up bringing down the price...

Its basically a small squeeze but the shorts have won, for now. Bear in mind the paper leverage these banks have and for silver its even worse!

[McCormick]

4 minutes ago, James32 said:

Yes Lad... you bought all-time high(ish) we thank you for crashing the market.

the crash would be bigger without this buy 😅

thank you @Smiler999

[Darr3nG]

Just now, McCormick said:

the crash would be bigger without this buy 😅

thank you @Smiler999

Don't encourage him!

[HerefordBullyun]

There is going to be a lot of resistance at the 1900 area until it breaks 3 times the charm then it will turn into support like silver at 23£ an oz. Even more so what ever the convertible equivalent is in USD rounded around psychological levels. 

It's all part of understanding the psychology of trading and money...

Edited April 12 by HerefordBullyun

[Gruff]

[Petra]

😮🤔you’re all watching the graphs too much 😮🤔🤔get a job😁😁up and down … this time next week will be settling at close well over £1900 just like when going over £1800. Just keep buying😮🤔🤔

[Gruff]

Just now, Petra said:

😮🤔you’re all watching the graphs too much 😮🤔🤔get a job😁😁up and down … this time next week will be settling at close well over £1900 just like when going over £1800. Just keep buying😮🤔🤔

I have a job, how do you think I still can't afford the shiny  

[Paul]

  

If anyone's interested in a Grand National forum Silver sweepstake tomorrow - Ive just posted one up 

(sorry for posting up here - figured it would be the most busy today, because 'reasons' )  

[HerefordBullyun]

Just now, Paul said:

  

If anyone's interested in a Grand National forum Silver sweepstake tomorrow - Ive just posted one up 

(sorry for posting up here - figured it would be the most busy today, because 'reasons' )  

Is there a horse called short the top and is the jockey called wonga...

[Paul]

Just now, HerefordBullyun said:

Is there a horse called short the top and is the jockey called wonga...

There's one called "aint that a shame" running 😁

[PhilB]

46 minutes ago, silversky said:

 

 

[PhilB]

47 minutes ago, Zhorro said:

I'd be happier if I knew who was selling and why.

It's the trading in the paper  markets that affect the spot price not physical trading. It's the tail of the spot paper comex market wagging the physical market dog. We physical buyers use the futures price with an applicable premium to set price. The paper futures traders do not refer to physical buyers regarding market price. Recent action upwards is cause by short covering, as the short traders who find their positions underwater who no longer believe they will get the chance to buy back the short sold contract, who are covering their short positions and therefore effectively buying 'paper gold ' causing a short squeeze with other shirt positions. This will lead to traders going long a some point, pushing the spot price further higher. 😊😊

[PhilB]

The smack down is the big-money not-for-profit traders of the comex, once UK and Europe closes. Wanting to manipulate the weekly close so as to prevent excessive chart damage. 

 

Edited April 12 by PhilB
Spelling

[bobski]

53 minutes ago, Matt8v said:

This is like crypto 2.0! Need to get my old rollercoaster gif out again! 

 

[Petra]

17 minutes ago, Gruff said:

I have a job, how do you think I still can't afford the shiny  

👍👍😁

[Tipsmart]

FJB

[Zhorro]

11 minutes ago, PhilB said:

It's the trading in the paper  markets that affect the spot price not physical trading. It's the tail of the spot paper comex market wagging the physical market dog. We physical buyers use the futures price with an applicable premium to set price. The paper futures traders do not refer to physical buyers regarding market price. Recent action upwards is cause by short covering, as the short traders who find their positions underwater who no longer believe they will get the chance to buy back the short sold contract, who are covering their short positions and therefore effectively buying 'paper gold ' causing a short squeeze with other shirt positions. This will lead to traders going long a some point, pushing the spot price further higher. 😊😊

It this were correct then the paper to gold ratio would have deteriorated, which is not the case.  These figures on the USA Debt Clock have remained fairly stable over the past few weeks.

U.S. National Debt Clock : Real Time (usdebtclock.org)

[PhilB]

4 minutes ago, Zhorro said:

It this were correct then the paper to gold ratio would have deteriorated, which is not the case.  These figures on the USA Debt Clock have remained fairly stable over the past few weeks.

U.S. National Debt Clock : Real Time (usdebtclock.org)

By paper I mean paper gold ie gold futures contracts. Not fiat paper notes.  I'm not familiar with the graphic you show. You may be right but I don't believe physical buying ans selling sets market price

Edited April 12 by PhilB

[Gruff]

This is what we witnessed today as crime that will never be prosecuted!

[DisplayName]

Simpsonstheendisnear.gif

Is this a good moment for a wanted add or better wait 2-3 weeks? 🤔

Edited April 12 by DisplayName

[bipolar]

according to Chards website, spot is still over 1900 😕

[Gruff]

Banking crisis inbound... how many of regional banks will fail this year, or will we see one of the big ones go pop, a la Credit Suisse?