Gold Monitoring Thread £ GBP only

[Dankanugget]

Spike to 1921

[bobski]

9 minutes ago, Dankanugget said:

Spike to 1921

Live Gold Price

Au

Current Price

£1,887.02

Live Change

0.00% £0.00

Live high £1,887.02

 

Live low £

[Dankanugget]

Do folk on here sell tubes of sovereign coins?

Just now, bobski said:

Live Gold Price

Au

Current Price

£1,887.02

Live Change

0.00% £0.00

Live high £1,887.02

 

Live low £

Let's see what happens..

Edited May 12 by Dankanugget

[bobski]

Spike up, then 15 minutes to level out and go down to about 1882

[James32]

1 minute ago, Dankanugget said:

Do folk on here sell tubes of sovereign coins?

 

Yes that's certainly achievable. 

[bobski]

2 minutes ago, Dankanugget said:

Do folk on here sell tubes of sovereign coins?

@BullionMan89 @Auronum

[BLOOMMAN101]

[HonestMoneyGoldSilver]

10 hours ago, treetop1280 said:

I take it is for the big traders ,  so your average person would prefer the actual gold in there hands rather than a piece of paper to cash in , thanks 

Actually due to the high cost of single units of gold with even 1g costing £60 + a premium (so £70 + shipping) it's easier for someone who only wants to invest their spare change to buy digital gold. With the Royal Mint you can invest as little as £25 in their DigiGold products or if you use a FinTech company you can invest as little as 1 INR (that's 1 Rupee or $0.012), while investment houses will let you invest starting at $12 USD (1,000 Rupees)

Whether or not you choose to invest in paper gold depends on your outlook on the global economy and your appetite for 3rd-party risk. If you believe everything is fine and you trust the custodian of your gold, then paper gold wins over physical gold (no storage or insurance fees, postal costs). There may be 100+ people who each believe they own the physical gold corresponding to your paper claim so if SHTF in global markets then SHTF for your gold claim too

Vaulted gold (ALLOCATED) can be a viable option. Again it all depends on your outlook and what you are trying to achieve. If you just want exposure to the spot price and you intend to regularly buy and sell, then owning paper or vaulted gold can be a more optimal solution than owning physical gold yourself

If you intend to hold for long periods of time, don't have faith in global markets and hate the idea of a 3rd-party having your gold in their grubby little hands, then physical gold in your personal custody wins hands down

[ccfcpaul]

Very fair point, it's a similar argument to many things that has been digitalised. certain things make life a lot easier. I.e. no need to write letters when you have email. Although if someone sent me a digital birthday card i wouldn't be best pleased, even though they get chucked a week later!

You can have it digitalised if all you are doing is investing, its the cheapest and in some ways, safest way to do it.

I personally don't like digital money (ironic when i love crypto). The problem being that its not money, its just numbers on a screen. Theres nothing quite like having physical items, whether money, gold, a nice watch etc etc

[bobski]

Live Gold Price

Au

Current Price

£1,885.68

Live Change

0.05% £+0.77

Live high £1,885.82

 

Live low £1,884.91

[bobski]

Live Gold Price

Au

Current Price

£1,882.18

Live Change

-0.04% £-0.67

Live high £1,882.96

 

Live low £1,881.79

[bobski]

Live Gold Price

Au

Current Price

£1,877.58

Live Change

-0.03% £-0.39

Live high £1,878.73

 

Live low £1,877.08

[Petra]

£1876.07 ….. long way back to £1900🤔↕️↕️? Around £1880 today🤔🤔

[BLOOMMAN101]

[BLOOMMAN101]

on a 1hr chart is that a cup and handle forming? asking for a friend

[Petra]

3 hours ago, BLOOMMAN101 said:

on a 1hr chart is that a cup and handle forming? asking for a friend

🤔🤔🤣cup of tea….🤔 more like some coloured lines zig zagging around🤔🤣

 

 

Edited May 13 by Petra
add

[Petra]

£1870 close tonight🤔

[Bratnia]

1 hour ago, Petra said:

🤔🤔🤣cup of tea….🤔 more like some coloured lines zig zagging around🤔

I see, I seeeee ..... A MONSTER!

[Bratnia]

41 minutes ago, Bratnia said:

I see, I seeeee ..... A MONSTER!

Nah! On second thoughts its just a Batman fist forming

Phew!

[Chronos]

Gold’s Action Last Week Strongly Points to China:

https://www.lewrockwell.com/2024/05/alasdair-macleod/golds-action-last-week-strongly-points-to-china/

[Bratnia]

When short term interest rates are less than inflation, negative real yields, investors tend to bid up the price of gold. Otherwise the price of gold is more inclined to remain flat

As pensions, wage rises etc. are often associate to April inflation rates I expect that next months inflation figures will suggest 2% inflation rates, which is less than 1 year Gilt yields (positive real yield). Recent gold price increases might start to flatten off, perhaps until up to/after the General Election (perhaps November/December).

That all said, @Chronos prior post above, high/rising demand for gold from the Chinese, given the size of its population/demand !!!

Edited May 13 by Bratnia

[theman73]

1 minute ago, Bratnia said:

high/rising demand for gold from the Chinese, given the size of its population/demand !!!

I'm unsure why people believe China is the principal factor in the gold price increase. I hope all realise that China is not the only country in the world and if gold is the next ''thing'' all countries will do the same.

''The industry body calculated China's purchases of the precious metal last year at 225 metric tons, roughly a quarter of the 1,037 tons bought by all the world's central banks.''

''The current population of China is 1,425,243,485 as of Monday, May 13, 2024, based on Worldometer elaboration of the latest United Nations data 1. China 2023 population is estimated at 1,425,671,352 people at mid year. China population is equivalent to 17.72% of the total world population.''

I can't see anything extraordinary here, 25% of the gold sold last year (all the world's central banks) was bought by a country with 18% of the population of the world.

Even worse:

''Worldwide gold demand amounted to 4,448.3 metric tons in 2023'' From this China bought 225 tons meaning 5% 

So, why do people believe China is the traction factor of gold? 

[Zhorro]

On 10/05/2024 at 12:46, Zhorro said:

The gold price has risen very fast for no apparent reason - what are the chances of a smack down (just like what happened a month ago)?

I guess we got the smack down today after the rapid rise on Friday - so no surprises.

[ArgentSmith]

1 hour ago, theman73 said:

So, why do people believe China is the traction factor of gold? 

Better question, why do people take PBOC figures at face value?

Edit: having read article it mainly focuses on retail demand which is no doubt high, PBOC are main driver and under reporting imo.

Edited May 13 by ArgentSmith

[Paul]

can i retract my £2,000oz price prediction for weekend - in case it appears me to look somewhat foolish & uneducated - TIA