Gold Monitoring Thread £ GBP only

[Scuzzle]

Shanghai Gold Exchange will be closing down soon for Chinese New Year, is this not usually when the cartel makes a play on the gold price?

[sovereignsteve]

On 23/01/2017 at 18:09, Scuzzle said:

Shanghai Gold Exchange will be closing down soon for Chinese New Year, is this not usually when the cartel makes a play on the gold price?

What's that you were saying?

[sixgun]

It is Options Expiry tomorrow - OPEX. The price at which the Cartel make profit is sub $1200 - this is why we saw a smack down in the paper price today.

[SpacedMarine]

Gold to $1000 silver to $10 markets all time highs and interest rates 10%!Just watch ??? ................  Then the moon shot!When Brexit finally comes and the left realise theyre stuck with trump and a collapsing EU the euro hits the skids and gold vanishes!Keep stacking!Just my opinion.

[Cornishfarmer]

I'm one of the worst people on here that buys high and sells low.    But I think gold will drop from 15th then rise when article 50 is invoked.    What are people's thoughts?

[shawy2510]

Tends to happen to me aswel buy high sell low haha.

[Ravinella]

Like to see it fall as would like to buy...........head on the block can see few more pullbacks from time to time but contrary to usual with interest rises,certain imo, I will be bullish for gold with gradual upward trend hitting £1050/£1100 end of year.

If Trumpy manages to get the dollar to crash,which he could do.........then fireworks.......... gold will rocket..........but dont think it will be allowed to happen and manipulation will continue with steady upward trend though

Probably complete bo**ox Harry Dent reckons it'll be $400/£330 at end of year......truth imo nobody has a clue re prediction of gold price WAY TOO MANY BLACK SWANS ABOUT........

[forgottenmemorie]

Gold and silver increasing.. 

Wonder what will happen when they trigger article 50..

Edited March 22, 2017 by forgottenmemorie

[SpacedMarine]

16 hours ago, forgottenmemorie said:

Gold and silver increasing.. 

Wonder what will happen when they trigger article 50..

Up because the pound down?In dollars probably not much different?

[HelpingHands]

8 hours ago, SpacedMarine said:

Up because the pound down?In dollars probably not much different?

I think down because the pound may go up.

Let's meet in the middle and say nowt happens. 

[sovereignsteve]

Not much happened for weeks. Everytime it goes up somebody knocks it down or the exchange rate jumps about.

I can't believe it's profit taking that keeps knocking it back, not enough up movement for that to happen.

[Vacendak]

As @HelpingHands mentioned, it is indeed possible for Sterling to go up.

Amazingly it has actually gone up recently! Some $0.05 or so more than the latest weekly nadir.

Still some way to go to $2 though...

[SpacedMarine]

1 hour ago, sovereignsteve said:

Not much happened for weeks. Everytime it goes up somebody knocks it down or the exchange rate jumps about.

I can't believe it's profit taking that keeps knocking it back, not enough up movement for that to happen.

Pinned at or below £1000 looks like to me.Like you say the exchange rate keeps it one way or another.As for profit taking if your leveraged 100-1 a $1 move is $100 multiply that by a few million and it doesn't take much for a small move to make big bucks $$$

Edited March 23, 2017 by SpacedMarine

[sovereignsteve]

Up it goes again, what's the chances it'll be down again before close of play?

[Pampfan]

Let's see where gold heads now.

 

Edited April 10, 2017 by Pampfan

[Glorfindel]

Does anyone think the current gold price is sustainable? I've wanted to buy for a few months now but I'm wary of buying so close to the ceiling. If Len Pen does not win in France, presumably the price will come down?

[vand]

Third time it's making a serious attempt at $1265 (=£1017)... let's see how this one goes. 

 

[Clens92]

19 hours ago, Glorfindel said:

Does anyone think the current gold price is sustainable? I've wanted to buy for a few months now but I'm wary of buying so close to the ceiling. If Len Pen does not win in France, presumably the price will come down?

This isn't to do with Europe, this is due to Korea.

 

22 minutes ago, vand said:

Third time it's making a serious attempt at $1265 (=£1017)... let's see how this one goes. 

 

Well above it now   I'm not aware of any significant economic announcements today, but North Korea have just threatened another nuclear strike, which might explain the sudden hike.

[vand]

8 minutes ago, Clens92 said:

This isn't to do with Europe, this is due to Korea.

 

Well above it now   I'm not aware of any significant economic announcements today, but North Korea have just threatened another nuclear strike, which might explain the sudden hike.

As I keep emphasizing, trying to pin new events to price action is a futile practice. The price make the headlines, not vice versa! Escalating price = more worry = somewhere someone prints something about an international crisis. The truth is that many events are happening in the world; some make the headlines, most do not until public sentiment triggers it.

 

[Glorfindel]

2 hours ago, Clens92 said:

This isn't to do with Europe, this is due to Korea.

Unlikely. Le Pen wins (although unlikely), the EU falls apart, cue European (world?) recession. Korea is a storm in a teacup.

[forgottenmemorie]

Damn, that gold price..

[Pampfan]

I wonder if I wrap myself in gold leaf it would protect me from the radiation of a nuclear strike?

Another benefit of being a stacker? 

[JSILVER]

Do we ever think gold could fall back to the lows of £700 again? I can't see it myself. I was a full backer of silver at this time and barely bought gold as I thought it may drop a little more then suddenly boom were at over 1K an oz. It's a mad world but it shows the lack of faith in fiat.

[vand]

16 minutes ago, JSILVER said:

Do we ever think gold could fall back to the lows of £700 again? I can't see it myself. I was a full backer of silver at this time and barely bought gold as I thought it may drop a little more then suddenly boom were at over 1K an oz. It's a mad world but it shows the lack of faith in fiat.

 

I don't see it myself either. The longer we spend at this level the more chance that those old prices are left behind forever.

However some people like Harry Dent & even Mike Maloney think that deflationary/demographic forces will come into play under which scenario all assets would be heavily discounted. I personally don't think this will happen, and certainly not anywhere near the extent that Dent in particular is claiming. These guys tend to make a sensational claim to get notoriety and then wed themselves to it.

The other event that could cause it would be a 2008-style meltdown where margin calls are made on all assets, in which case it would not surprise me to see PMs pulled down with everything else (at least the paper market).

[JSILVER]

1 hour ago, vand said:

 

The other event that could cause it would be a 2008-style meltdown where margin calls are made on all assets, in which case it would not surprise me to see PMs pulled down with everything else (at least the paper market).

Isn't this this point though? Safe haven assets, I can't say I was collecting back then, I was too young to know any better. Did gold and silver go up during the recession?