Gold Monitoring Thread £ GBP only

[Oldun]

One more dump to wipe out the retail longs. 

[Kman]

3 minutes ago, Oldun said:

One more dump to wipe out the retail longs. 

The big picture seems to be record short dollar, record long euro, long stocks, record short US 30 year bonds

Despite that dxy hasn't been below 90 yet and bonds are fine

When these positions are forced to be flipped it could really be something 

[Oldun]

Indeed. Pays yer money, takes yer choice

[Oldun]

Indeed. Pays yer money, takes yer choice  Good luck, good trading.

 

 

Edited December 3, 2020 by Oldun

[dicker]

Thanks gents

[272]

Interesting Reuters article suggesting dollar could drop in value by another 10 to 20%.

 

https://www.hl.co.uk/news/2020/12/4/is-a-post-covid-currency-war-coming

 

[Stacktastic]

14 minutes ago, 272 said:

Interesting Reuters article suggesting dollar could drop in value by another 10 to 20%.

 

https://www.hl.co.uk/news/2020/12/4/is-a-post-covid-currency-war-coming

 

So whats the strategy guys?? 
Chips of the table and wait?? 

Im obviously keeping Greatland and MAG, but have no wish to buy anything else until i know whats going on. 
I have exited everything other than ones that are trading at a loss (gold ETF, GDXJ & Royal gold), but will sell them ideally with a bit of profit. 
Looking at it it very simply and taking out all the noise, it points towards to downturn!
Probably a very sudden and catastrophic one that will take time to recover. 
If there is stimulus (which there will be with the new fed woman) surely that will delay matters? 

I thought that in the summer, which was why I did not touch the Nasdaq, missed opportunity there.

I also wonder why they are shipping the vaccine to the UK first - guinie pigs used to free government medicare I guess?? 
BUT it might mean that due to increased confidence our economy might jump ahead of Europe and USA. 

Edited December 4, 2020 by Stacktastic

[KDave]

22 minutes ago, Stacktastic said:

So whats the strategy guys?? 
Chips of the table and wait?? 

Im obviously keeping Greatland and MAG, but have no wish to buy anything else until i know whats going on. 
I have exited everything other than ones that are trading at a loss (gold ETF, GDXJ & Royal gold), but will sell them ideally with a bit of profit. 
Looking at it it very simply and taking out all the noise, it points towards to downturn!
Probably a very sudden and catastrophic one that will take time to recover. 
If there is stimulus (which there will be with the new fed woman) surely that will delay matters? 

I thought that in the summer, which was why I did not touch the Nasdaq, missed opportunity there.

I also wonder why they are shipping the vaccine to the UK first - guinie pigs used to free government medicare I guess?? 
BUT it might mean that due to increased confidence our economy might jump ahead of Europe and USA. 

I could be wrong but I read that as you are thinking about acting on the noise, by saying you have taken out the noise. 

Ignore the noise, are you buying gold or not? If you keep some miners and dump others what are you achieving, they will likely all go down together.

[Richiesilver]

Price goes up - buy

Price goes down - buy more

[Stacktastic]

45 minutes ago, KDave said:

I could be wrong but I read that as you are thinking about acting on the noise, by saying you have taken out the noise. 

Ignore the noise, are you buying gold or not? If you keep some miners and dump others what are you achieving, they will likely all go down together.

Brit really as I have bought a lot of physical this week. I just have bought into too many things and want to simplify things & start working with a proper strategy. 
My next play would be Uranium/alternative energy, but if Gold price goes back down I will buy into the mining stocks atm. I will also buy back into oil if that goes back down. 

Im not too bothered if current mining stocks go down as they should rebound, unlike some of the tech sector, for example. Especially Greatland. 

Just wondering what other people are thinking?

[KDave]

Good stuff, come up with a strategy. If you can get out whole or at a profit from buying into too much then consider it, start again working with your plan. If you have a plan it's harder to be shaken, when you are looking at red for 6 months like I was with oil then you have a wobble every now and again but it's easier to get over because it's about the long term. 

My thoughts on uranium are if we are going renewable then it's gas or uranium that will have to pick up the slack, more likely gas. I like uranium but oil and gas is main position. Uranium is limited to a few parts of the world in regard to supply, gas is everywhere, hydrogen can be made anywhere as well. A mix of gas with hydrogen is the way most places will go, BP, repsol, shell, total are all gearing up on renewables in order to use the electricity to produce hydrogen imo. If mixed with nat gas it can be pumped through existing infrastructure to your boiler, to power stations, etc. Nuclear is cheaper but has its problems, waste, accidents, etc, but is a legitimate option and use will increase. I like both. 

[KDave]

Harry dents plan is to wait for 1000 dollar gold. It's good to have a plan. 

[Stacktastic]

13 minutes ago, KDave said:

Good stuff, come up with a strategy.

Im still ruminating & formulating.

If I could go back I would: 

1: have waited for the low on BP & SHELL. 
2: Not have bought all the different mining stocks and waited for the recent lows.
3: I did quite well with WTI, so cant complain there (I bought on the low sold recently). 
4: I would have put a LOT more money into greatland when it was low at 13p - I averaged 18p & missed the bus a bit. 
5: I would have waited for MAG to hit a low or saved more funds so I could cost avenge, although I think that will take a dive soon. 

There is a running theme here! Wait to buy and wait to sell, be more patient. 
I could be cashing out some decent profits with shell & BP now, but hey ho. 

Oh well. Im in profit overall (not sure how much?) & £500 up on Greatland atm (£800 invested).

Good lessons & no risk & a free tube of brits so far!! 😛
Lets make it an OZ or two of gold next year. 

I am starting to think the one investment to make would be Bitcoin if that really rebounds!! 

Edited December 4, 2020 by Stacktastic

[KDave]

Getting paid to learn is always good.

I would say waiting for the low you will never get in. Very very rare to tag the bottom. I don't have the answer, what I do is set a target I want invested, for example say you want X amount in a sector, X amount in a company and then start to cost average in, setting some cash aside for buying lower target prices, until reaching full allocation. The target can change but it's a good guideline. This process worked very well with BP and Total, but I bought too much shell around 10 per share with money set aside for the 9's. When it got to 8.96 I only had cash for a few so my average is higher than it needed to be. Lesson learned. Who knows maybe we get another try. 

The point on wishing you had put more in the winners, this is hindsight bias. It's not helpful. If you focus on this, tomorrow you may decide to put more into a future loser than you otherwise might have, because you remember your hesitation on the last winner. There is no way to know. Just stick to the plan imo. 

[Oldun]

Now and July (possibly a higher price by then but maybe a higher low type set up) are my gold stock buying timeframes (or rather adding). Added phyzz of both types over the last 2-3 weeks as I had November and a price point of $1750 from the August $2,000 high (as I mentioned back in August) as my personal adding point for au and ag in this round.

Edited December 5, 2020 by Oldun

[dicker]

Predictable headlines on Brexit today. “Down to the wire”, No Deal likely etc.

Will be an interesting start to the session....money to be made if you are trading this market. 

[h103efa]

44 minutes ago, dicker said:

Predictable headlines on Brexit today. “Down to the wire”, No Deal likely etc.

Will be an interesting start to the session....money to be made if you are trading this market. 

Daily pin bar set up at 1.35, a bearish sign but anything can happen on rumours. Im staying out. 

[dicker]

Gold curiously subdued today....Markets pricing in a Brexit deal?

[272]

Is it? Price has gone up above £1398 looking at  bullion vault charts. I assumed inital rise due to the drop on Sterling but not sure that would account for all of it. Latest rise in  the day seems to coincide with opening of US markets.

[dicker]

It was when I wrote it!

[Paul]

Gold GBP  £+31.45 (+2.30 %) for the day - just broke £1400

Don't tell Royal Mint or your gold Bowie's will be going up !! 

[dicker]

A pleasant surprise...

[dicker]

Gold still on the up - which was a bit of a surprise! 1403 as I type.

[Stacktastic]

1 hour ago, dicker said:

Gold still on the up - which was a bit of a surprise! 1403 as I type.

I would not get too excited, we have an election to conclude, Brexit & helicopter money coming all within a few weeks. 
I can see it bumping about for a bit unless the world gets locked down again. 

[dicker]

Thank you for your insight.