Gold Monitoring Thread £ GBP only

[augur]

22 minutes ago, Minimalist said:

Banks; Destroying the economy and buy it all back at bargain prices: Largest transfer of wealth in history.

Just for clarification: I fully agree and it saddens me. 

[sixgun]

2 minutes ago, augur said:

Just for clarification: I fully agree and it saddens me. 

Surely not.  The very survival of humanity depends on the banks. A well known member of the forum told me this just the other day.

[augur]

Was that HH, @sixgun?

i agree here with @Minimalist that this will become the greatest wealth transfer in history.

[sixgun]

Just now, augur said:

Was that HH, @sixgun?

i agree here with @Minimalist that this will become the greatest wealth transfer in history.

Did you need to ask who it might have been?

[augur]

Rhetorical question. Truth be told i didn’t follow the vs. thread as it was going nowhere so i wasn’t sure i had missed something. 

[mr-dead]

let's see what happens when markets open shortly

 

[Nick1368]

12 minutes ago, mr-dead said:

let's see what happens when markets open shortly

 

Damnnnnn 😮

Surely UK is going to do the same soon 

[ChrisSilver]

There have been some reports on this topic.

I have temporary locked this topic.

I will move the off topic comments from @sixgun and @HawkHybrid to the other topic. And then unlock this topic

Please do not use this topic for off topic discussions, especially non PM discussions. 

All non PM topics should be in the non PM forum. 

This topic here is: 

Gold Monitoring Thread £ GBP only

[HelpingHands]

4 minutes ago, ChrisSilver said:

There have been some reports on this topic.

I have temporary locked this topic.

I will move the off topic comments from @sixgun and @HawkHybrid to the other topic. And then unlock this topic

Please do not use this topic for off topic discussions, especially non PM discussions. 

All non PM topics should be in the non PM forum. 

This topic here is: 

Gold Monitoring Thread £ GBP only

Just annexed a couple of pages over there

[ChrisSilver]

I have unlocked the topic, please do try to keep the topic on track.

Please use the non PM forum section for non PM discussions and debates.

[Minimalist]

Since companies have got their debt and they are paying expenses my gut tells me that over the next year or two Gold will go through the roof

[5huggy]

GSR just rattled to 106 !!

 and silver was the swing!   nearly back up the truck time for ME!

Edited March 16, 2020 by 5huggy

[Coincollector]

30 minutes later - Silver to gold ratio at 109

 

[5huggy]

[MancunianStacker]

FTSE 😱 

 

[paolo]

4 minutes ago, MancunianStacker said:

FTSE 😱 

 

The markets doesnt belive anymore in the central banks..

[Martlet]

1 hour ago, paolo said:

The markets doesnt belive anymore in the central banks..

The markets are more focused on the fact everyone isolating will take chunks off GDP.  Leisure industry, travel industry are going to lose weeks of revenue and significantly shrink.  China expected to report negative growth Q1, that will filter through to about every industry across the world. Half a % on interest rates isnt the big issue.  

Edited March 16, 2020 by Martlet

[paolo]

9 minutes ago, Martlet said:

The markets are more focused on the fact everyone isolating will take chunks off GDP.  Leisure industry, travel industry are going to lose weeks of revenue and significantly shrink.  China expected to report negative growth Q1, that will filter through to about every industry across the world. Half a % on interest rates isnt the big issue.  

Then is nothing the central banks can do anymore to stop the drop, until the markets find their new floor

Edited March 16, 2020 by paolo

[goldmember44]

Silver is getting absolutely destroyed, gold holding steady. So silver is reacting in step with the stock market, rather than with gold...acting as a commodity, not a store of value anymore.

[sovereignsteve]

10 minutes ago, paolo said:

Then is nothing the central banks can do anymore to stop the drop, until the markets find their new floor

Yes but they have to bang their heads against the proverbial brick wall. It's in their nature and they have to try to keep up the illusion they are in control in every situation. They will never admit they are powerless when mr market finally takes control back.

[goldking]

13 minutes ago, goldmember44 said:

Silver is getting absolutely destroyed, gold holding steady. So silver is reacting in step with the stock market, rather than with gold...acting as a commodity, not a store of value anymore.

Posting that in this thread is like a red rag to a (couple of) bulls.  You're going to get a slap if 'they' turn up with their handbags again. 

[goldmember44]

1 minute ago, goldking said:

Posting that in this thread is like a red rag to a (couple of) bulls.  You're going to get a slap if 'they' turn up with their handbags again. 

I hope as much as anyone here that silver will recover after this initial fear reaction. Let's hope for the best...we're in uncharted territory here.

[paolo]

Just to remind everyone in 2008 silver was at 20 usd, and within 7 months was at 10, lost 50% of value. It took 2,5 years to be back at 20 usd, before going much higher. I wouldnt be surprised to see it down of another 30% from here. So it can be a long way before we see it where we would like to. I think we need to be patient . In my opinion should be seen as a long term investment, 5-10 years in order to see it at the real value hehe

Edited March 16, 2020 by paolo

[maminzlaten]

local dealers have ceased operations, they have no gold

german dealers are under pressure

people here are withdrawing funds from their banks, so that they can buy food and masks

its crazy

[paolo]

5 minutes ago, maminzlaten said:

local dealers have ceased operations, they have no gold

german dealers are under pressure

people here are withdrawing funds from their banks, so that they can buy food and masks

its crazy

Just should be here in italy to see how things are developing. Soon 7000 soldier in south italy to prevent social unrest. If Italy is ahead of other contries in this then you have from 10 days to 3 weeks to get prepared. Hopefully things will get under control again in couple of months, but better be prepared for anything

Edited March 16, 2020 by paolo