Gold Monitoring Thread £ GBP only

[HerefordBullyun]

1 minute ago, stefffana said:

Yeah... And @HerefordBullyun is going to buy a bottle to celebrate...😓😫😱

fomc minute meeting minutes tommorow @stefffana the fight isnt over ven though it will be a pack of BS, 

[Stacktastic]

3 hours ago, Ukbullionfan said:

Price is dropping !

Great isnt it. 😛

Im eying up a royalty miner or GDXJ as they have a fed meeting tomorrow. 
tackling Inflation will be top of the agenda. I still think the £1280's is possible. 

Edited December 14, 2021 by Stacktastic

[HerefordBullyun]

Options expiry day on friday no doubt the COMEX, bullion banks will loaded up for another big sell off on friday I could see it below 1300 by then....

[Martin1983]

On 22/11/2021 at 15:30, goldmember44 said:

Absolutely ridiculous, how they can still have confidence in how America's economy is being run from the White House. Realistically gold should have rallied considerably by this time, based on the inflationary conditions currently prevailing, and is likely to prevail long into the future. Maybe we will still see a gold rally before Christmas.

Who knows what the end game will be but if they decide to go to negative interest rates gold & silver could still have a long way to drop before we see a rampant increase in metal prices 

[HerefordBullyun]

I will be tuning in to the fed live stream at 1900hrs GMT to hear the clownshow from the horsesmouth. He will say yes we are rasing rates in 2022, but hes lying like a cheap japanese watch, the fed cannot and will not be able to they are trapped.  

https://www.federalreserve.gov/live-broadcast.htm

Edited December 15, 2021 by HerefordBullyun

[Stacktastic]

1 hour ago, HerefordBullyun said:

I will be tuning in to the fed live stream at 1900hrs GMT to hear the clownshow from the horsesmouth. He will say yes we are rasing rates in 2022, but hes lying like a cheap japanese watch, the fed cannot and will not be able to they are trapped.  

https://www.federalreserve.gov/live-broadcast.htm

Biden has voting to consider this year - & has already (probably) briefed Powell to curb inflation (or pretend too).  
What will that do the the gold price out of interest? 

Edited December 15, 2021 by Stacktastic

[HerefordBullyun]

50 minutes ago, Stacktastic said:

Biden has voting to consider this year - & has already (probably) briefed Powell to curb inflation (or pretend too).  
What will that do the the gold price out of interest? 

The only two options he has raise interest rates wont happen. Or print more money - and say it temporary to flood the ecomony to supress, but its only short term supression, he will use the variant as an excuse. He will say that the stimulus package is stopping and tapering of priniting will start, which will have a detrimental effect on gold unless hes saying he going to be printing long term, he will never commit to that. But given the fact also next year CPI figures wont effect comodoties as part of the release of figures which was - siad last month in zero hedge. Gold wont shine for me now until people are buying banana at $20 a pound. He will continue the narative that the econonmy is great. As I write this its just started. They are stating economy is strong - its a lie, but the excuse of covid is a lie.

Edited he is projecting that employment will actually increase next year, which is a counter arguement about the risks of covid and inflation. 

 

 

Edited December 15, 2021 by HerefordBullyun

[HerefordBullyun]

Powell is hawkish on the taper purchasing assests and saying its going to happen by Mar As what I predicted. This is a lie. so the money printing wont stop in march in reality. He will not raise interest rates in March/ April. This is the biggest load of old pony going.

He says employment is coming to maximum levels. Another lie, these figure are scewed by rubbish data, bit like the CPI figures.  

Edited December 15, 2021 by HerefordBullyun

[Tn21]

Did I hear correctly 3 internet rate hikes next year @HerefordBullyun?

 

I tuned out now from his speech. Same old ish 

[jultorsk]

Pardon the wall of text..

FT: Fed officials expect three interest rate rises next year in hawkish pivot on inflation

Federal Reserve officials expect to raise interest rates three times next year in a dramatic shift from their projections just three months ago as the US central bank assumes a much more aggressive approach to taming surging inflation.

The more hawkish interest rate forecasts were published alongside a plan to double the pace at which the Fed withdraws or “tapers” the massive bond-buying programme it put in place at the start of the pandemic. It will in January begin cutting purchases by $30bn a month so that the stimulus is removed several months earlier than initially expected. 

That would put the Fed on track to stop adding to the size of its balance sheet by the end of March and give it leeway to raise rates soon thereafter.

At the end of its two-day policy meeting on Wednesday, the Federal Open Market Committee kept its main interest rate on hold at the rock-bottom range of 0 to 0.25 per cent, while signalling support for a more assertive approach to tightening policy. When the so-called dot plot of individual interest rate projections was last updated in September, senior policymakers were evenly split on the prospects of a “lift-off” in interest rates from today’s near-zero levels in 2022. 

Now, three increases are expected in 2022, with three more rate rises pencilled in for 2023, followed by two in 2024. 

The abrupt shift follows a string of robust economic data suggesting the labour market is recovering and that inflation is broadening out and at greater risk of becoming more entrenched. Jay Powell, the Fed chair, laid the groundwork for the move at congressional hearings several weeks ago, officially retiring the use of the word “transitory” to describe inflation and signalling that stable prices are essential for a long economic expansion. The Fed noted that supply and demand imbalances have contributed to “elevated levels of inflation” and acknowledged that the inflation test for lift-off had been met.

The Fed had previously said it would keep interest rates tethered close to zero until it achieved inflation that averages 2 per cent for some time and maximum employment. The Fed did not set a numeric target for employment, but the recent drop in the unemployment rate to 4.2 per cent suggests progress has been made.

US economy is set to grow 5.5 per cent in 2021, compared to 5.9 per cent in September, and another 4 per cent in 2022.

The Fed’s statement said new coronavirus variants posed a risk to the economic outlook, but did not address the specific threat from Omicron, which has sparked global alarm and prompted some governments to reintroduce lockdown measures. Powell has previously warned that Omicron presents “downside risks” to employment and economic activity and could exacerbate inflation by intensifying supply chain bottlenecks.
The decision reverberated through financial markets, as investors took the view that the Fed is serious about bringing rising inflation under control. Market measures of inflation over the next five years fell to the lowest level since October. Investors sold out of US sovereign debt following the Fed decision, sending the yield on the policy sensitive two-year note up 0.06 percentage points to 0.71 per cent. That put it just below a 21-month high hit earlier this month. 

The benchmark 10-year note also weakened, albeit at a more moderate pace. The yield rose 0.02 percentage points to 1.46 per cent. 

US stocks whipsawed but ultimately pushed higher, with the blue-chip S&P 500 rising 0.3 per cent. The tech-heavy Nasdaq Composite erased a loss of as much as 1.2 per cent to trade marginally higher.

Additional reporting by Eric Platt in New York

 

[HerefordBullyun]

2 minutes ago, Tn21 said:

Did I hear correctly 3 internet rate hikes next year @HerefordBullyun?

 

I tuned out now from his speech. Same old ish 

What he says and does is completely different thats the point - he will continue to say this interst rates will go up in the future but not today. Its like Bojo saying there will be more jam tommorrow, hes cutting taxes ie, it load of old balls....

There is no jam tomrrow!

3 minutes ago, jultorsk said:

Pardon the wall of text..

FT: Fed officials expect three interest rate rises next year in hawkish pivot on inflation

 

 

Wont happen.....

[HerefordBullyun]

The price of gold hardly moved in USD as was down in GBP  slightly given by Jeromes statement that economy and is strong and employment is going up.

There is no inflation, and its just all roses. Cough Cough

Gold will be below 1300£ by the year end me thinks or close to it come options expiry Friday. 

[MancunianStacker]

Gold is on fire sale 🔥 5% discount 

[Stacktastic]

13 minutes ago, HerefordBullyun said:

options expiry Friday. 

interesting info. Today was a great day trading day for the gambler. 
I think there might be further downside for miners yet. 

Could be a fire sales - it bounced back - but silver might be good. 
I might catch GDX on open. 

Who predicts they come up with the triceratop varant lock the world down & keep printing. 
I hope so as my genius mortgage broker @MancunianStacker should get me a 2% fixed for as long as possible! 

Edited December 15, 2021 by Stacktastic

[HerefordBullyun]

7 minutes ago, Stacktastic said:

interesting info. Today was a great day trading day for the gambler. 
I think there might be further downside for miners yet. 

Could be a fire sales - it bounced back - but silver might be good. 
I might catch GDX on open. 

Who predicts they come up with the triceratop varant lock the world down & keep printing. 
I hope so as my genius mortgage broker @MancunianStacker should get me a 2% fixed for as long as possible! 

Silver actually went up 2% today only becuase its volitility come options expiry it will get smashed again.

[jultorsk]

FT: Bank of England raises key interest rate to 0.25%

Borrowing costs increase from 0.1% as central bank highlights inflation risk

The Bank of England has raised interest rates from 0.1 per cent to 0.25 per cent, its first increase in more than three years, saying that the risks of inflation required it to take pre-emptive action even as the Omicron wave of coronavirus engulfs the UK. 

Surprising financial markets on Thursday for the second month running and voting 8-1 in favour of higher interest rates, the bank’s Monetary Policy Committee decided it could not wait any longer before seeking to cool the spending in the economy. 

The BoE said that the strength in the economy meant that the conditions it had put in place for a rate rise had been met and the effects on inflation of Omicron were “unclear at this stage”.

It added that it expects UK inflation to rise to around 6 per cent in the spring.

[Agaumac]

2 minutes ago, jultorsk said:

FT: Bank of England raises key interest rate to 0.25%

Borrowing costs increase from 0.1% as central bank highlights inflation risk

The Bank of England has raised interest rates from 0.1 per cent to 0.25 per cent, its first increase in more than three years, saying that the risks of inflation required it to take pre-emptive action even as the Omicron wave of coronavirus engulfs the UK. 

Surprising financial markets on Thursday for the second month running and voting 8-1 in favour of higher interest rates, the bank’s Monetary Policy Committee decided it could not wait any longer before seeking to cool the spending in the economy. 

The BoE said that the strength in the economy meant that the conditions it had put in place for a rate rise had been met and the effects on inflation of Omicron were “unclear at this stage”.

It added that it expects UK inflation to rise to around 6 per cent in the spring.

Thank you for that, I was beginning to get a complex. I posted a gold Maple for sale and spot price dropped £12 in two minutes just after. Bad timing or what?

[CaptCaveMan]

Looks like the base rate raise is now having some impact, 1,349

[HerefordBullyun]

25 minutes ago, CaptCaveMan said:

Looks like the base rate raise is now having some impact, 1,349

wait til option expiry happens that will change it downwards

[James32]

Just now, HerefordBullyun said:

wait til option expiry happens that will change it downwards

Is that tomorrow?

[CaptCaveMan]

5 minutes ago, HerefordBullyun said:

wait til option expiry happens that will change it downwards

More than happy for that as still hoping to buy one more Sov before year end 😁

[HerefordBullyun]

8 minutes ago, James32 said:

Is that tomorrow?

Yes for futures and shares yes. 

[lst65]

So the general consensus here is that gold will fall further next week or so...?

 

Edited December 16, 2021 by lst65
Misspell

[CANV]

the money has been printed. I think I read over 30 per cent total money printing stateside.  inflation is coming and as stated by bully and more on here, the central banks can't hike aggressively due to the huge amounts of personal and government debt .

quite the conundrum.   Stocks arnt falling because the market believes early hikes mean less of em further down the road.   history will tell you that (especially in the feds case) once central banks start hiking they go further and for longer than the market expects..  

this time I reckon we could see a dislocation of gold from bond prices though. as general fear of central bank and government ability to control inflation increases.    their only answer to any problem now is print more money.   

Edited December 16, 2021 by CANV

[HerefordBullyun]

1 hour ago, CANV said:

the money has been printed. I think I read over 30 per cent total money printing stateside.  inflation is coming and as stated by bully and more on here, the central banks can't hike aggressively due to the huge amounts of personal and government debt .

quite the conundrum.   Stocks arnt falling because the market believes early hikes mean less of em further down the road.   history will tell you that (especially in the feds case) once central banks start hiking they go further and for longer than the market expects..  

this time I reckon we could see a dislocation of gold from bond prices though. as general fear of central bank and government ability to control inflation increases.    their only answer to any problem now is print more money.   

100% give that man a pat on the back. The BoE and Fed ae 2 different beasts also, the debt margin differences are also massive. So even a tiny interest hike with the fed of circa $29 Trn is UUUUUUUUUUge as the donald would say. whereas the BoE Debt levels are only an 10th of USA See table below.

But actual debt owned by each person is USA is double what a UK citizens owes, that may not seem a lot but you have to take into factors that UK is a lot less populated than US and a whole lot smaller. The one frightening stat is that UK's externel debt is massive, but come a financial crash do you honestly think that they are going to honour it? Of course not.

You may call me conspiracy theorist this build back better campaign is a pyschological operation for the finanicial reset and when you have the world economic forum saying youll own nothing and be happy (its in thier manifesto - go and check it) with a universal credit system is exactly what they want, Central bank digital Cryoto coins - CBDC's for short anyone? - all they want is all money and power. Im not saying its going to happen in my lifetime, but I reckon it could, easily.

Nathan rothschild said the below quote and what do you think CBDC;s will do - trackable and controllable, Fiat money today is 97% digital already so this is still true today already with CBDC's will be 100% like this. Why do you think banks question you if you take large sums of money out your bank? Yes becuase they cant control it - so they want to know - Tdah!

Edited December 16, 2021 by HerefordBullyun