Gold Monitoring Thread £ GBP only

[Guest]

Silver price now into the 12s, surely this is a no-brainer or is it me being an idiot, I mean come on, we'll look back in years to come at 12 quid and won't believe it, 11, 10. I'm tempted to go full nutjob into silver

[Derv]

1 minute ago, bullionbob said:

Silver price now into the 12s, surely this is a no-brainer or is it me being an idiot, I mean come on, we'll look back in years to come at 12 quid and won't believe it, 11, 10. I'm tempted to go full nutjob into silver

Sounds 👍 promising. Think imma gonna dabble

[Guest]

you might want to drip feed in, I have no idea how low silver can temporarily go, surely there will be stampede if this gets down to 06 dec 18 low in dollar terms 14.06, that was 10.76 in sterling

[goldmember44]

30 minutes ago, bullionbob said:

Silver price now into the 12s, surely this is a no-brainer or is it me being an idiot, I mean come on, we'll look back in years to come at 12 quid and won't believe it, 11, 10. I'm tempted to go full nutjob into silver

Yeah, only problem is the dealers are not stupid, it won't be easy to find silver bullion coins close to spot price at these low levels... especially not government minted ones like Britannias. 

[Guest]

True but this price of Silver and still more to go down is just too good to pass up, maybe i'm wrong I often am but surely the best long-term investment out there, I would love to see platinum fall another 20% as well, might have to consider selling a couple of relatives at this rate to raise some extra funds, it's a steal

[SilverPirate007]

1 hour ago, goldmember44 said:

Be careful. I wouldn't touch stocks with a ten foot pole until it has bottomed out. Calling the bottom is a very dangerous game. But if you feel like doing it, then go for it. Just beware...

No one can predict the bottom my friend. Regular investing is the key.

[goldking]

If we discount the sudden £40 rise at the very start of the year, gold in GBP had been rising at approx £4 per week.  2 weeks ago it was £1213, today it is £1236.  If we'd continued at the same steady rate we'd have been at around £1221 today.  I'm not seeing any reason to worry about the price "correction" this week.   If I had the funds I'd be using the opportunity to pick up some more gold sovs at spot.

Edited February 28, 2020 by goldking

[goldking]

5 hours ago, Nick1368 said:

it's gonna go up to £1300 again on Monday morning 

Still confident about that, Nick?  

[Zhorro]

Gold is supposed to be a “safe haven” – yet at a time when one would have thought a “safe haven” was needed, gold was smashed today.  But why?

The TV financial commentators suggest profit taking, and margin calls – so we can probably discount these suggestions!  If it really is end of month profit taking and margin calls then the gold price should stabilise next week.

However, we have all heard the saying “If you don’t hold it, you don’t own it”.  So, maybe this is the reason people are getting their money out of paper and electric gold - while they can.  In which case, things could become very interesting!

[goldking]

22 minutes ago, Zhorro said:

Gold is supposed to be a “safe haven” – yet at a time when one would have thought a “safe haven” was needed, gold was smashed today.  But why?

https://www.kitco.com/news/2020-02-28/Rush-to-cash-beats-gold-but-price-recovery-is-coming-analysts.html

[MancunianStacker]

1 hour ago, bullionbob said:

Silver price now into the 12s, surely this is a no-brainer or is it me being an idiot, I mean come on, we'll look back in years to come at 12 quid and won't believe it, 11, 10. I'm tempted to go full nutjob into silver

Never, ever, go full Nutjob!!! 🤣 

[goldking]

1 hour ago, bullionbob said:

Silver price now into the 12s, surely this is a no-brainer or is it me being an idiot, I mean come on, we'll look back in years to come at 12 quid and won't believe it, 11, 10. I'm tempted to go full nutjob into silver

If only there was a facepalm smiley on here.

[SilverPirate007]

Silver is a total no brainer at the moment. The only thing I wouldn’t buy right now is gold.

[Abyss]

40 minutes ago, Zhorro said:

Gold is supposed to be a “safe haven” – yet at a time when one would have thought a “safe haven” was needed, gold was smashed today.  But why?

When we have asset bubbles that pop (stock markets around the world likely followed by housing markets) it is a deflationary environment where assets prices fall that include Gold and Silver (more Silver because it is viewed as a industrial metal with weaker global economy there is less demand hence lower price is reflective of a similar move in oil). We could see several months of asset bubble depreciation and lower Gold price that forces out all the weaker hands but when Gold ready to make it's next leg higher it will be significantly more than £1290.

Wait for the central banks to give out helicopter money and watch Gold price soar.....

https://edition.cnn.com/2020/02/26/economy/hong-kong-budget-2020-economy/index.html

Edited February 28, 2020 by Abyss

[goldmember44]

28 minutes ago, SilverPirate007 said:

Silver is a total no brainer at the moment. The only thing I wouldn’t buy right now is gold.

Gold is a good buy imo...

[Nick1368]

3 hours ago, ROrbers said:

gold is a LONG-term investment ...

words of wisdom  

[sixgun]

There was an options expiry Friday afternoon. It is usual price gets smashed by the banks.

Listening to London Paul - (i'm not on commission but well worth the $4 something a month) - he is suggesting this is par for the course as the old system dies. The USD is dying. They - the Fed, US Treasury, the Exchange Stabilisation Fund are losing control. Yes we have heard this from the pumpers and the doom merchants for the last 10 years or so but i have not heard it like this from London Paul before.

They are hitting gold and silver - they have hitting stocks hard as well in an attempt to push cash into US Treasuries and dissuade people buying gold and silver. i know there are several who do not believe silver is money, do not see it as other than an industrial metal. Surprising then that the powers that be have silver trading on the FX markets as a currency - that silver gets hammer like gold, no more than gold when there are financial statements. If silver is just another metal why the interest from the financial community - why is it traded as a currency - as much a currency as EUR or GBP?

London Paul's view is they will hit gold and silver until there is no gold left to sell to Asia or there is an all out collapse or they do the reset themselves and have some control over it. Paul's view is that silver is the most undervalued asset on the planet and the upside is significantly higher. He isn't a pumper, he doesn't have a coin and bar shop - he is a economical and political analysis. He doesn't predict a time or a price but the way he is talking the clock is rapidly moving up to midnight. 

If i were unsure i would say gold b/c that is 100% certain value for all time and don't piss around trying to get it. Silver is always mentioned by the financial types - it is traded by the Bank for International Settlements. It is stockpiled by China, Russia, India. That we are so heavily indoctrinated into thinking it is not money makes me feel this a look over here don't look over there kind of issue. 

Edited February 29, 2020 by sixgun

[goldking]

6 minutes ago, sixgun said:

There was an options expiry Friday afternoon. It is usual price gets smashed by the banks.

Are you sure?  Options expire on 3rd Friday of the month (ie. last Friday, not yesterday) and on the last day of each quarter.  https://www.marketwatch.com/optionscenter/Calendar

Edited February 29, 2020 by goldking

[sixgun]

8 minutes ago, goldking said:

Are you sure?  Options expire on 3rd Friday of the month, ie. last Friday, not yesterday.  https://www.marketwatch.com/optionscenter/Calendar

A friend of mine rang me to say he had a message from Andrew Maguire - it related to option's expiry at 4 o'clock this Friday afternoon in silver. It was just this afternoon so i am not misremembering. 

i do not disagree with what you are saying - there is more than one expiry date - there is the date for Comex and there is the LBMA OTC (Over the Counter) options.

The Expiry last month was 31st Jan (Friday) - Harvey Organ was commenting on it here. https://harveyorganblog.com/2020/01/30/jan-30-options-expiry-tomorrow-for-lbma-otc-so-expect-a-raid-on-our-precious-metals-today-gold-rose-by-13-05-to-1584-45-silver-up-47-cents-to-17-98-tomorrow-is-first-day-notice-and-we-will-witne/

Edited February 29, 2020 by sixgun

[Oldun]

Surely the recent drop is due to margin calls on accounts as the stock market falls, no ?  

Edited February 29, 2020 by Oldun

[Roy]

Quote

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[goldking]

Seems legit.

[Guest]

Only kidding, semi nutjob ok?

[Nick1368]

It’s Monday morning and spot Price is £1248 as I type, who is buying gold this week ? I am
 

[goluckystayhappy]

I have a coin at £1237 + postage in the FS thread.