Gold Monitoring Thread £ GBP only

[sixgun]

Just now, HelpingHands said:

Done but it's probably not the best title but I don't know what the discussion is about.

@sixgun @HawkHybrid

i won't be using this thread - but thanks for the thought and effort. i am going to leave debate with HH - i cannot convince him of how things really work - i have been trying for a long time now, so i think it is time for me to call it a day.

[HawkHybrid]

https://www.youtube.com/watch?v=HUJXnGT4JoI

 

this is still on topic and relevant for those who

are interested. those not interested can simply

ignore it.

 

HH

[sovereignsteve]

27 minutes ago, HelpingHands said:

Done but it's probably not the best title but I don't know what the discussion is about.

Thanks but it seems they are done now.

I can't see it lasting though😉

[sixgun]

Big pop up for gold in USD and GBP - oil hit very hard as Russia refused to cut back on production.

[Nick1368]

4 minutes ago, sixgun said:

Big pop up for gold in USD and GBP - oil hit very hard as Russia refused to cut back on production.

it's moving fast as well, £1294.43 as I type

Edited March 8, 2020 by Nick1368

[sixgun]

i expect price to get choppy - the bulls and the market riggers are going to have a big scrap in the coming days - 

[silenceissilver]

1 minute ago, sixgun said:

i expect price to get choppy - the bulls and the market riggers are going to have a big scrap in the coming days - 

Not again! If it continues like this all I will be able to afford a month, will be half gram bars, by the end of the year.

Edited March 8, 2020 by silenceissilver

[sixgun]

Just now, silenceissilver said:

Not again! If it continues like this, by the end of year all I will be able to afford a month will be half gram bars.

Hope you have got plenty in your stack already then. 

[silenceissilver]

8 minutes ago, sixgun said:

Hope you have got plenty in your stack already then. 

I could be less, it could be more. I won't say how much I have, on this forum. But I'm a buyer.

[Nick1368]

8 minutes ago, silenceissilver said:

I could be less, it could be more. I won't say how much I have, on this forum. But I'm a buyer.

good answer mate.

in a situation like this you never have enough gold in your stack, I personally wish I had more than what I currently have but like you I'm a buyer too and going to buy some more tomorrow morning 😎

 

Edited March 8, 2020 by Nick1368

[richatthecroft]

[Nick1368]

10 minutes ago, richatthecroft said:

absolute madness  

[goldmember44]

Zombie apocalypse now. Dow futures -1,150

Edited March 8, 2020 by goldmember44

[vand]

After touching a peak of 22.5 in mid 2018, the Dow/Gold ratio has now fallen to 14.5

Rather significantly:

it is now below the 200 week ma, and the 50 and 200wma look like they will cross in a matter of a few weeks. Last time that happened was 2013 on the upside, and early 2002 on the downside.

 

http://schrts.co/XinIxrJR

[goldking]

30 minutes ago, goldmember44 said:

Zombie apocalypse now. Dow futures -1,150

Will all be green again by the close of business today .

[goldmember44]

6 minutes ago, goldking said:

Will all be green again by the close of business today .

They will try for it, for sure!

[goldking]

Gold starting to show lower support at £1295 / $1695.  Friday was just a spike.  Wonder if it will last.

Edit: nope! 

Up, down, up, down, up, down!  Nearly $40 of volatility already and the western markets have yet to open.  Down to $1666.  Folks selling gold paper contracts to cover losing positions in oil, stocks etc.  Margin calls Monday morning are going to hurt and could easily see gold crash hard today.  The futures markets triggered the circuit breakers earlier and all trading was stopped as they'd hit their loss limits.  Going to be another wild week!

Edited March 9, 2020 by goldking

[goldmember44]

The GSR is pretty much 1:100 now.

[sixgun]

3 hours ago, goldmember44 said:

The GSR is pretty much 1:100 now.

This Andrews fork shows an interesting picture - the median line of the fork is the point of resistance the ratio is pulled back to - 

[sixgun]

Despite the crash in the stock markets - despite panic in the trading rooms - we see gold taking a knock. This is illogical, we will hear the story that traders are having cover losses in their stocks. Gold surged last night - if it got its head, price would be racing up. Mr Wronger posted a table of the shorts held by the banks - should the paper price move up strongly this would put them under a lot of stress. They will have to capitulate b/c real money is an unstoppable force when most of the world outside the Western banking bubble is gold orientated. 

[goldmember44]

5 minutes ago, sixgun said:

Despite the crash in the stock markets - despite panic in the trading rooms - we see gold taking a knock. This is illogical, we will hear the story that traders are having cover losses in their stocks. Gold surged last night - if it got its head, price would be racing up. Mr Wronger posted a table of the shorts held by the banks - should the paper price move up strongly this would put them under a lot of stress. They will have to capitulate b/c real money is an unstoppable force when most of the world outside the Western banking bubble is gold orientated. 

Actually, I don't see it that way...gold could have sold off like everything else today initially, but it didn't... it's holding up really well, which shows a lot of strength. I think once the initial shock has sunken in a bit it could rally considerably. 

[HawkHybrid]

11 minutes ago, sixgun said:

Despite the crash in the stock markets - despite panic in the trading rooms - we see gold taking a knock. This is illogical

 

there's nothing illogical about it.

28th feb stocks tank, gold goes into the red.

is it so inconceivable that gold could go into the

red on todays stock tank?

 

should you not base your possibilities on past

experience?

 

HH

Edited March 9, 2020 by HawkHybrid

[sixgun]

@HawkHybridThat which was illogical in the past, very likely remains illogical in the present.

[Auricsstash]

Wait....
1st this isn’t yet a crash it’s a bear market.. 

2nd everyone is waiting to see how big the feds bailout is...

3rd gold will only climb significantly when credit starts being affected both corporate and private and that won’t be until the actual recession kicks in...

 

[goldmember44]

The gold price hit a 7-year high on the USD today at $1,700... a sign of things to come.