Gold Monitoring Thread £ GBP only

[sixgun]

1 hour ago, AuricGoldfinger said:

I dont think gold backed currency can or ever will happen again

It's already happening. This shows a recent video where a friend of mine is using the Kinesis virtual debit card. The card is still being trialled but gold and silver are certainly being used to buy stuff.

 

Edited October 18, 2022 by sixgun

[ady]

6 hours ago, AuricGoldfinger said:

I dont think gold backed currency can or ever will happen again

Until the world works out what curreny is we are in limbo, banks hold gold, btc is a very hard accounting system. End of the day prisoners work out a currency be it a jaffa cake, loo roll, to a nub end. The big players know gold is money, hence JPM quote on gold & credit. I see gold becoming some kind of anchor and making good on the currency printers.

[flyingveepixie]

8 hours ago, Stacktastic said:

£320 is my buy in for a sov & I have seen it the charts that it could come to fruition soon.  
longer period & it could be a lot lower with the stupid premiums. 
£300 at least - less with 4-5%. which IMO it should be!!! 

Spot would have to be well below £1300.00 for your dream to come true.  With the state of world economies and gold seemingly becoming somewhat scarce I would have my doubts about that as we would need to see a whole lot more and even greater acts of sabotage againt the masses than we've just witnessed in recent days courtesy of Jasper C*nt et al.  Also I'm not 100% sure the masses will continue to put up with the political shenanigans of a couple of hundred scumbags acting in their own interests and making entire countries suffer for it.

Anything can happen of course...🤔

8 hours ago, Stacktastic said:

£320 is my buy in for a sov & I have seen it the charts that it could come to fruition soon.  
longer period & it could be a lot lower with the stupid premiums. 
£300 at least - less with 4-5%. which IMO it should be!!! 

 

Edited October 18, 2022 by flyingveepixie

[Paul]

Do we have Wonga like price predictions brewing here ?? 

[spookyandroid]

2 hours ago, ady said:

Until the world works out what curreny is we are in limbo, banks hold gold, btc is a very hard accounting system. End of the day prisoners work out a currency be it a jaffa cake, loo roll, to a nub end. The big players know gold is money, hence JPM quote on gold & credit. I see gold becoming some kind of anchor and making good on the currency printers.

Not sure it'll affect the money printers - it should, but ultimately, we're moving "digital" - CBDC's (Central Banking Digital Currencies) which will provide even easier scaling up (and maybe down).

The overall issue is that economic growth can only be sustained via population growth and we're at a pivotal point in humanity where jobs are being replaced by machines, this will only accelerate over the coming years, meaning we're surplus to requirement for the most part. 

Longer term we're likely headed towards a dystopian UBI based, social credit system whereby capitalism is phased out in favour of the some sort of Socialist setup. 

...I'll go set my tinfoil hat down somewhere now.

[ChrisSilver]

I've approved the last post above that was in the approval queue on this occasion. Though please note that this topic is however for monitoring gold price action, so for more discussion around other topics and not actual gold price itself you likely will want to start new topics or post in other existing relevant topics elsewhere on the forum @spookyandroid most likely the non PM section for some of the particular topics mentioned above. 

[spookyandroid]

Apologies - no problem.

[AuricGoldfinger]

Soooooo…gold price eh.

 

i see potential for it to hit £1400 but then back up over £1500 and beyond. We still need to see the US beat its ATH. When that happens and with £ down the pan, us brits who bought at sub £1000 prices will be quids in…assuming the quid still exists 😝

[Stacktastic]

9 hours ago, flyingveepixie said:

Anything can happen of course...🤔

Yes it can. I don't have a clue (as im sure you are aware), but if the banking system dumps then so will the paper contracts. 
Its makes no odds how scarce physical gold is, if everyone sells paper then the price will go down I guess? 
Would not last long, but the £1,300 gold price is possible. 

Having said that if when the banks & bond markets crash/reset then people might well run to safer stocks & gold.  

9 hours ago, Paul said:

Do we have Wonga like price predictions brewing here ?? 

No not me. I can easily see £5,000 gold within 2 years given all the macro, which we wont go into as I will get told off.  

Edited October 18, 2022 by Stacktastic

[Paul]

5 minutes ago, Stacktastic said:

No not me. I can easily see £5,000 gold within 2 years given all the macro, which we wont go into as I will get told off.  

Whhoooooo !!! 

[EdwardTeach]

10 hours ago, Paul said:

Do we have Wonga like price predictions brewing here ?? 

I’m waiting for a central banker to utter the word “contained”. That’ll be my cue to grab some popcorn and get ready for the show to start as the over-leveraged financial system completely collapses. It’ll probably be great for commodities and precious metal prices as they correct to their true market value (assuming society doesn’t break down and turn Mad Max when the banking system stops working).

Edited October 18, 2022 by EdwardTeach

[gji25]

13 hours ago, EdwardTeach said:

when the banking system stops working).

the banking system stopped working many years ago hence the reason for stacking gold and silver. imo i can see gold and silver hitting new highs  in the next 12 months but not astronomically high

[CollectForFun]

14 minutes ago, gji25 said:

 imo i can see gold and silver hitting new highs  in the next 12 months but not astronomically high

I.e. £30 silver...?

[SidS]

18 minutes ago, gji25 said:

the banking system stopped working many years ago hence the reason for stacking gold and silver. imo i can see gold and silver hitting new highs  in the next 12 months but not astronomically high

I get rid of my fiat as soon as I get it, sometimes I get rid of it even before it lands in my account! 😁

I've already lost confidence in cash.

[gji25]

7 hours ago, CollectForFun said:

I.e. £30 silver...?

some bullion dealers are already there on certain silver 1oz coins ignoring the spot price

[Ukbullionfan]

Hey ! What’s up ? So yeh if any of the gold manipulation guys at the top are reading this could you do us a quick favour and break the all time price of gold before end of Fridays day of business. Appreciate it, thanks.

[RDHC]

PM resigns, sterling goes up, gold price in sterling goes down. Have I got this sequence right? Perhaps I should beware the post hoc, propter hoc fallacy.

[HerefordBullyun]

2 minutes ago, RDHC said:

PM resigns, sterling goes up, gold price in sterling goes down. Have I got this sequence right? Perhaps I should beware the post hoc, propter hoc fallacy.

Yes you're right

[Ukbullionfan]

So gold will be going down or up now ? Lol

[Goldfever20]

20 minutes ago, Ukbullionfan said:

So gold will be going down or up now ? Lol

Who knows, who knows lol

[SidS]

I suppose it depends who they drop into the job. It'll be someone else utterly unsuitable, probably a WEF stooge. Then we'll see if gold goes up or down or indeed sideways.

Maybe it'd be more productive to take bets on how long each successive PM will last. Shorting politicians if you will.

Edited October 20, 2022 by SidS

[Mtaybar]

Boris will be back..... Watch it sore to the mooooooon!!!!!!!

[Darr3nG]

1 hour ago, Ukbullionfan said:

So gold will be going down or up now ?

Yes

[Earthmetal]

1 hour ago, Darr3nG said:

Yes

Not neccess  necces  neces

It might not.

[Midasfrog]

Looking at the chart over the last five years the Putin peak clearly reminding us that Gold can drop back from a high peak . The latest high peak could well drop back to around £1300 oz again any time soon  😇