Gold Monitoring Thread £ GBP only

[DisplayName]

What's a good number to aim for a 1oz instead of fractionals?

[James32]

Just now, DisplayName said:

What's a good number to aim for a 1oz instead of fractionals?

£1860 or less

[HowardW]

2 minutes ago, Gruff said:

How do you deal with the CGT on the selling from BV? Do you keep a record of it and then ensure you stay under for the year? 

I'm not sure I stay under for the year but that's a different question...

Yes, keep a record and include in the CGT calculation. 

One thing worth being careful about is how you allocate metal sold to metal purchased - say I have 500 grams bought over the last year or so (but not in the last month) I take the average gram price as being the "purchase cost" for how ever many grams I sell. That's the general rule.

But if I buy it back within 30 days, I match the purchase to the sale. E.g., sold 100 grams last week at £1900/oz and bought back 100 grams today at £1850/oz - my purchase price for the 100g sale is the price today (£1850) not the average price so the taxable gain is  £50/oz for 100 grams or £160 ish, even if my "average purchase price" is £1000/oz

That can help keep the CGT profits down.

Also remember that it's 0.5% commission each way and some bid/offer spread so metal needs to be really cheap to make it worthwhile - not just £10-20/oz cheap.(And that's why it's much more useful on silver - I do almost entirely scrap - as spot can move 5% and "cheap" silver can be 20-30% below spot not 2 or 3% like in gold)

[Bratnia]

51 minutes ago, HowardW said:

And can be applied to personal stacks too... I always keep a portion on Bullionvault...then if any cheapies come along, you can buy them and sell the equivalent grams on BV. When you can sell metal at your target % of spot, sell out the metal and buy back on BV.

Was very useful yesterday on the "other metal" as there was loads of cheap stuff around (or perhaps more accurately buyers scared away by the falling price) but even on gold I got in 25 grams of v cheap physical (and sold 25g on BV)

27 minutes ago, Gruff said:

How do you deal with the CGT on the selling from BV? Do you keep a record of it and then ensure you stay under for the year? 

Fully collateralised swap with Canadian Bob, swapped Britannia's for Maples and both ended up with CGT bookable losses before having swapped back again.

[katyc]

1.87% drop in 24h. Gold is supposed to be a stable commodity.

[JohnV66]

The DSI on the gold futures hit close to a record of 89 on the 21st. It was due a correction.

Anytime sentiment is that positive will clock the underlying commodity at some point, hence it cracked yesterday.

Some folks thinks it goes up and down at random. Also copper got whacked for over 6% in a day.

[stefffana]

1 minute ago, katyc said:

1.87% drop in 24h. Gold is supposed to be a stable commodity.

It's very stable. 1%-2% is nothing.

Just chill, your long term investment is safe.

[Wilsonl01]

Buy the dippp

[Bratnia]

24 minutes ago, HowardW said:

Also remember that it's 0.5% commission each way and some bid/offer spread so metal needs to be really cheap to make it worthwhile - not just £10-20/oz cheap.(And that's why it's much more useful on silver - I do almost entirely scrap - as spot can move 5% and "cheap" silver can be 20-30% below spot not 2 or 3% like in gold)

0.1% once you've traded over $75,000 in any one year. Might be considered as 300/year 'membership' (0.4% on first $75,000) cost and 0.1%/trade for those that trade more often/larger amounts. 0.05%/trade for those trading over $750K/year. https://www.bullionvault.com/help/QuickStart.html

Typically to move between vaults is a sell and buy double trade action and sometimes you can sell in one, buy in another for zero spread. https://www.bullionvault.co.uk/order-board.do

[GoldDiggerDave]

3 minutes ago, JohnV66 said:

The DSI on the gold futures hit close to a record of 89 on the 21st. It was due a correction.

Anytime sentiment is that positive will clock the underlying commodity at some point, hence it cracked yesterday.

Some folks thinks it goes up and down at random. Also copper got whacked for over 6% in a day.

6% on Copper? Thats @HerefordBullyun stack smashed 🤣

[MrStacker]

2 minutes ago, Wilsonl01 said:

Buy the dippp

Yessir!!! Surprised it’s gone down so much this week to be honest. 

 

[katyc]

3 minutes ago, stefffana said:

It's very stable. 1%-2% is nothing.

Just chill, your long term investment is safe.

I mentioned the 1.87% today - but I mean overall really.... Gold is moving erratic for the last few months. It's moving different to how it used to (less steady).

But, as you say, it doesn't make a difference long term.

[Gruff]

Just now, katyc said:

I mentioned the 1.87% today - but I mean overall really.... Gold is moving erratic for the last few months. It's moving different to how it used to (less steady).

But, as you say, it doesn't make a difference long term.

All commodities will become subject to violent price action and swings, this is bound to happen when a market built on quicksand is sinking and the whole ponzi scheme is falling apart. This is the controllers attempt to maintain control, which they're losing rapidly. Next, they'll be taking us to wa.... wait a minute!

[Bratnia]

6 minutes ago, katyc said:

1.87% drop in 24h. Gold is supposed to be a stable commodity.

If gold is money, Pounds are currency, then its currency that is highly volatile.  That lightheartedness aside and the price of gold is very volatile, the same or higher than the volatility in stock prices. Can go on long down runs such as 1980 to 1999. Buy/hold gold only with that in mind (and a plan of how you'll cope with such volatility both mentally and in action/response). I like to combine £, $, gold currencies and periodically rebalance between those, such as back to equal % weightings, which has a broader tendency to average each of those. 'Deposit' the $ perhaps into stocks, maybe £ deposited in a cash deposit/interest account.

[HowardW]

4 minutes ago, Bratnia said:

0.1% once you've traded over $75,000 in any one year. Might be considered as 300/year 'membership' (0.4% on first $75,000) cost and 0.1%/trade for those that trade more often/larger amounts. 0.05%/trade for those trading over $750K/year. https://www.bullionvault.com/help/QuickStart.html

Typically to move between vaults is a sell and buy double trade action and sometimes you can sell in one, buy in another for zero spread. https://www.bullionvault.co.uk/order-board.do

Indeed! (And at one point there was a massive arb between Zurich and London vaults and when it didn t go away BV offered free delivery from London to Zurich - that was worth a bob or two)  But the more you trade the more it risks becoming a business (and taxed as such) rather than investment

[katyc]

1 minute ago, Gruff said:

All commodities will become subject to violent price action and swings, this is bound to happen when a market built on quicksand is sinking and the whole ponzi scheme is falling apart. This is the controllers attempt to maintain control, which they're losing rapidly. Next, they'll be taking us to wa.... wait a minute!

Very true, the wheels are coming off in the economy for sure. We may see another boost by the end of the week (as seems to be the pattern lately!)

[James32]

14 minutes ago, Wilsonl01 said:

Buy the dippp

I would ordinarily...but nobody is fekin selling.

[Bratnia]

3 minutes ago, katyc said:

Very true, the wheels are coming off in the economy for sure. We may see another boost by the end of the week (as seems to be the pattern lately!)

Wheels have already come off

Sunak as Chancellor and then PM has seen conventional Gilts redemption cost rise to near £3 trillion and Index Linked Gilts redemption rise to over £1 trillion. Mostly not borrowed to invest, but rather just borrowed to spend/lose/waste.

[Brit2023]

5 hours ago, Paul said:

Check your emails I'm getting a £100 quid dividend from nationwide due to their annual performance

Will add that to the Christmas pot £££

I like being in this club.

[KRO]

7 minutes ago, James32 said:

I would ordinarily...but nobody is fekin selling.

happy to oblige at £1900😀that's a sort of dip

[9x883]

14 minutes ago, katyc said:

Very true, the wheels are coming off in the economy for sure. We may see another boost by the end of the week (as seems to be the pattern lately!)

With China Taiwan heating up, most probably 

[Bratnia]

30 minutes ago, JohnV66 said:

The DSI on the gold futures hit close to a record of 89 on the 21st. It was due a correction.

Anytime sentiment is that positive will clock the underlying commodity at some point, hence it cracked yesterday.

Some folks thinks it goes up and down at random. Also copper got whacked for over 6% in a day.

That recent 1500 tonnes of gold purchase is still being physically delivered. There's another CME Options settlement date due next Tuesday and the big guns are creating paper-gold i.e. paper to gold ratio has recently jumped to a 124.4 multiple https://usdebtclock.org/gold-precious-metals.html compared to the 122 multiple it was at pre the 1500 tonnes purchase. i.e. a push to lower the price for securing physical gold ahead of actual delivery by creating much paper gold (Options/Futures contracts (supply larger than demand so price of gold declines)).

I suspect it may be the same in the lead up to the 25th June settlement date.

[Bratnia]

1 hour ago, DisplayName said:

What's a good number to aim for a 1oz instead of fractionals?

28

As in next Tuesday (28th May morning), after the long weekend flight into gold, aligned with the Options settlement date

Edited May 23 by Bratnia
Forgot Monday was a B/H

[theman73]

56 minutes ago, katyc said:

1.87% drop in 24h. Gold is supposed to be a stable commodity.

 

[Dankanugget]

I hear the bottoms in.