Gold Monitoring Thread £ GBP only

[paolo]

2 minutes ago, goldmember44 said:

Yes, I don't think it's really sold out... they're just not selling it for giveaway prices. It will miraculously come back into stock when the price has recovered...

but then they would still sell at the same price because they have to reduce the spreads i suppose. I mean people is willing to buy also at 16.5, so what s the point to not sell? They can sell at the same price before the silver crash and people would still buy

Edited March 17, 2020 by paolo

[goldking]

6 minutes ago, paolo said:

Did anyone notice that all main dealers in europe have pratically all silver out of stock, except collectables?

Pratically all standard bullions are sold out everywhere, and very few available are over 16.5 euros, with silver at 11.30 euros..

spread is almost 40% if anything available at all

This silver thread is here: 

This is the gold thread.

 

[5huggy]

yet another big drop!

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Added 0 minutes later...

[5huggy]

ANOTHER further WHACK down!

[BazzaC]

Morning all

so is this possibly a buying opportunity with a dip, Or is there still some time to sell?   Physical I'm referring to that is.

Thoughts and ideas if you please... if I can request this here.

[Roy]

Hey Sir @5huggy !

This is the GBP thread 😋

[5huggy]

4 minutes ago, BazzaC said:

so is this possibly a buying opportunity with a dip, 

👌

[5huggy]

4 minutes ago, Roy said:

Hey Sir @5huggy !

This is the GBP thread 😋

@Roy - another whoops by 5huggy - your quite right - it should be more like this

METAL	BUY	SELL
Gold	£1,249.80	£1,255.02
Silver	£10.31	£10.38
Platinum	£551.22	£561.47

[Roy]

So a hit in USD but not much of an effect in GBP.

Why is that? 🤔

[5huggy]

Cant be $ dilution already! 

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Added 0 minutes later...

£/$ = 1.20xx right now!

[Roy]

👍

Usually, I only look at dollar spot for reference, gold is traded in USD but it's the GBP price that matters for those who buy and sell in GBP.

When I get paid in USD, it's the opposite.

[paolo]

How much are you guys willing to pay over spot for gold and for silve now? 

[Bumble]

It is not so much that GBP is weak, but that USD is strong. The DXY is up at 99.5. The USD is doing what it tends to do in bad times and is acting as a safe haven. People are selling everything and holding dollars while they wait to see just how badly things turn out. US dollars and US bonds are the most liquid assets in the world, and in a crisis liquidity is king.

[BazzaC]

Hi Paolo,

gold : depends on how much I like what I am thinking of buying, but feel at the moment the spot price is high.

Silver : same depends on what I'm looking at but lately bought all I could get my hands on 🤗 which has been around +3£ over spot. Still feel it's a steal though so no regrets so far:)

 

[BazzaC]

@ Bumble I agree with what you have stated above, but would like to add the dollar also has vulnerabilities  and has sank in the past even against other fiat. 

[BackyardBullion]

I just had a phonecall from Hatton Garden Metals.

Royal Mail have advised them not to post coins.

So, things are vaulted for now.

They would not elaborate but I suspect it is to do with insurance liability as the Royal mail have said their posties will be signing for things so the public don't have to touch the PDA's they use.

[Shinus73]

1 minute ago, BackyardBullion said:

I just had a phonecall from Hatton Garden Metals.

Royal Mail have advised them not to post coins.

So, things are vaulted for now.

They would not elaborate but I suspect it is to do with insurance liability as the Royal mail have said their posties will be signing for things so the public don't have to touch the PDA's they use.

I imagine Royal Mail will be struggling for staff also, so makes sense not to have anything of value stuck in a struggling (more than usual) postal system.

I didn’t take advantage of the recent eBay 1% fees selling offer for the first time in ages, for the same reason.

[sovereignsteve]

4 minutes ago, BackyardBullion said:

I just had a phonecall from Hatton Garden Metals.

Royal Mail have advised them not to post coins.

So, things are vaulted for now.

They would not elaborate but I suspect it is to do with insurance liability as the Royal mail have said their posties will be signing for things so the public don't have to touch the PDA's they use.

yes that makes sense. I got a SD package yesterday and the postie left it on the doorstep and stood 5 yards away until I answered the door. They are allowed to sign as delivered for you.

It'll be fun when people start claiming losses😎

[sovereignsteve]

Sterling continues to get crushed

[Abyss]

I was genuinely shocked beyond belief price action GBP/USD today at one point it fell from 1.210 all the way down to 1.145 relatively short time frame 7 am to 5 pm and GBP lost 5.3% against the USD. 550 pip moves on the majors (AUD/EUR/GBP/CAD/USD/CHF/JPY) are extremely rare.

I know we are heading down Exter's Pyramid (we are on US Government Bonds / USD Bank Money right now as the USD is the reserve currency of the world) but the rapid price actions across multiple asset classes leaving very little time to protect and position yourself. Shale industry US could lead corporate debt bubble explosion. I have seen crazy currency moves in Venezuela  / Turkey / Argentina but never thought I would ever see devaluation GBP over 5% single day.......

Edited March 18, 2020 by Abyss

[Sparrow]

Sterling is now at a 35 year low against the dollar and at its lowest level ever against the euro.

It was a good decision to start buying gold last year. 😬

[goldking]

1 minute ago, Sparrow said:

Sterling is now at a 35 year low against the dollar and at its lowest level ever against the euro.

It was a good decision to start buying gold last year. 😬

Yes, quite incredible to watch the gold price increasing in GBP whilst decreasing in USD !  Unfortunately the only reason for the relative strength of the dollar is because every other currency is in the weeds. 

[5huggy]

2 hours ago, Abyss said:

I was genuinely shocked beyond belief price action GBP/USD today at one point it fell from 1.210 all the way down to 1.145 relatively short time frame 7 am to 5 pm and GBP lost 5.3% against the USD. 550 pip moves on the majors (AUD/EUR/GBP/CAD/USD/CHF/JPY) are extremely rare.

I know we are heading down Exter's Pyramid (we are on US Government Bonds / USD Bank Money right now as the USD is the reserve currency of the world) but the rapid price actions across multiple asset classes leaving very little time to protect and position yourself. Shale industry US could lead corporate debt bubble explosion. I have seen crazy currency moves in Venezuela  / Turkey / Argentina but never thought I would ever see devaluation GBP over 5% single day.......

MOST IMPORTANT THOUGH!

[Minimalist]

My Barclays bank app has notified me that its apparently in my best interest that I set up a savings account 🤣

[sixgun]

38 minutes ago, Minimalist said:

My Barclays bank app has notified me that its apparently in my best interest that I set up a savings account 🤣

You should build up a saving balance to be bailed in. You know it makes sense.