Gold Monitoring Thread £ GBP only

[sovereignsteve]

2 minutes ago, Foster88 said:

That’ can’t be the only thing you’re on if you’re waiting for £750. 😆

I've been taking lessons from Wonga😁

[SidS]

59 minutes ago, sovereignsteve said:

I've been taking lessons from Wonga😁

Wonga was £450 wasn't he?

A little low if you ask me. I find £1200 to be reasonable.

[sovereignsteve]

5 minutes ago, SidS said:

Wonga was £450 wasn't he?

A little low if you ask me. I find £1200 to be reasonable.

£750 sticks in my mind as it was late 2015 and the last really low spot price in recent times, we were buying sovs for £180 ish. It was the days of HGM selling shields for 5 - 10% premium or so.

[MrStacker]

£1600s will be the new normal for standard 1oz Gold coins.

It doesn’t really look like gold will have a drastic dip incoming.

[EdwardTeach]

6 hours ago, MrStacker said:

£1600s will be the new normal for standard 1oz Gold coins.

It doesn’t really look like gold will have a drastic dip incoming.

I'm starting to think you might be right there.

[Stacktastic]

16 hours ago, sovereignsteve said:

I'm still on £750 🤪

wouldn't that be a thing, especially if its a crash, which I still think is possible if we see a once in a lifetime equities dump.

[AurumArgenti]

[Happypanda88]

4 minutes ago, Stacktastic said:

wouldn't that be a thing, especially if its a crash, which I still think is possible if we see a once in a lifetime equities dump.

I have cash ready. Wake me up when it happens ! 😴😴😴

[Stacktastic]

47 minutes ago, Happypanda88 said:

I have cash ready. Wake me up when it happens ! 😴😴😴

Yeah. doubt it very much (even at  £1200 again) but its possible. Probable - not so sure. 
But £10 silver is doable though I recon. Nice having the two especially if they decouple. 
What with CBDC's and the likes the only way is up, but it can go down. 

Cup in handle is done now I think. 

Edited January 12, 2023 by Stacktastic

[Happypanda88]

21 minutes ago, Stacktastic said:

Yeah. doubt it very much (even at  £1200 again) but its possible. Probable - not so sure. 
But £10 silver is doable though I recon. Nice having the two especially if they decouple. 
What with CBDC's and the likes the only way is up, but it can go down. 

Cup in handle is done now I think. 

Anything is possible as they are paper prices at the end of the day. 

Who would have thought that the US Crude Oil could go down to -$37.63 per barrel in April 2020. This didn't mean the oil companies would give you a barrel of oil for free plus $37.63.

Even if gold were to suddenly drop to £750 spot, I bet no one would be able to buy anywhere near that price. And the dealers would be "out of stock" in a flash !

 

[ShineyMagpie]

I think what @Happypanda88 has said is completely correct, if there was a sudden drop in the price of gold, we are talking here a dip as apposed to the 'new norm' I'm sure most dealers would just stand fast and wait to see if it blowes over. How could they possibly afford to effectively give things away at a loss from what they bought it for. Longer time this may happen, but I think it would be a graduate drop as the some dealers will need cash flow and try to out bid each other while still maintaining as much premium as possible.

[Stacktastic]

52 minutes ago, Happypanda88 said:

Even if gold were to suddenly drop to £750 spot

Outside of a markets catastrophe its unlikely. 
The dollar and bonds have turned & oil is well over sold. 
Stocks are all on free-fall & I think energy is also over sold.
Bitcoin is speculative and dangerous as its proved last year. 

I cant see many other decent mid - longer term wealth preservation assets out there? 
Maybe silver? If you were a multi millionaire in any country where would you park the cash??

[lst65]

2 minutes ago, Stacktastic said:

Outside of a markets catastrophe its unlikely. 
The dollar and bonds have turned & oil is well over sold. 
Stocks are all on free-fall & I think energy is also over sold.
Bitcoin is speculative and dangerous as its proved last year. 

I cant see many other decent mid - longer term wealth preservation assets out there? 
Maybe silver? If you were a multi millionaire in any country where would you park the cash??

Ferrari, Lamborghini and Mercedes 😂

[Happypanda88]

10 minutes ago, Stacktastic said:

Outside of a markets catastrophe its unlikely. 
The dollar and bonds have turned & oil is well over sold. 
Stocks are all on free-fall & I think energy is also over sold.
Bitcoin is speculative and dangerous as its proved last year. 

I cant see many other decent mid - longer term wealth preservation assets out there? 
Maybe silver? If you were a multi millionaire in any country where would you park the cash??

Farmland, gold and a posh beach front property  😉

[sovereignsteve]

2 hours ago, Happypanda88 said:

Even if gold were to suddenly drop to £750 spot, I bet no one would be able to buy anywhere near that price. And the dealers would be "out of stock" in a flash !

The time to go long paper?

[Lyrinn]

Here we all are, debating on if gold will make it to ATH by the end of the week, when @sovereignsteve is already exploring the stars:

(£750, must have been magical times to be alive and in the PM's game. I guess we'll say that about £1,500 in a few years time though.)

Music: Memorex Memories - Pictures Of Purple Skies

[Paul]

50 minutes ago, Lyrinn said:

must have been magical times to be alive and in the PM's game

strangely it wasn't all sunshine smiles and champagne. 

Most here were moaning it had been too low for too long as should have been at "The Moon" long before

We are a strange bunch, humans   🙄 

[LemmyMcGregor]

6 minutes ago, Paul said:

strangely it wasn't all sunshine smiles and champagne. 

Most here were moaning it had been too low for too long as should have been at "The Moon" long before

We are a strange bunch, humans   🙄 

"I'm buying next month, it will come down."

[Paul]

12 minutes ago, LemmyMcGregor said:

"I'm buying next month, it will come down."

 

[sovereignsteve]

5 hours ago, LemmyMcGregor said:

"I'm buying next month, it will come down."

before or after?😁

[LemmyMcGregor]

17 minutes ago, sovereignsteve said:

before or after?😁

Probably after 🤣

Doesn't matter though, in the long run always works out.

[MancunianStacker]

Like land, “they” aren’t making any more gold (at least until we start mining other planets etc). Until then, demand will continue to outstrip supply and as supply gets more difficult, slower and more expensive to mine, gold price will go up. It’s like it’s own natural built-in inflation.

Gold will require more fiat to buy said gold every decade that passes, the gold doesn’t change but the knowledge of the cost to obtain gold in any given currency does.

Just like land and houses in the UK at least, every 20-25 years I’d expect the gold price to at least double. Gold seems to be doing much better than property since 1970, then 1995 and then 2020. Just look at those jumps in fiat price. 👌

No 3rd party and as liquid as cash itself!!!

[Dom]

18 minutes ago, MancunianStacker said:

Like land, “they” aren’t making any more gold (at least until we start mining other planets etc). 

Never gonna happen, people still think Nixon spoke to three men on the moon 54 years ago using a landline, no way they will ever mine other planets it's a fantasy.

[MancunianStacker]

14 minutes ago, Dom said:

Never gonna happen, people still think Nixon spoke to three men on the moon 54 years ago using a landline, no way they will ever mine other planets it's a fantasy.

Exactly 👍🏻 

Good news for us 😉 

[Happypanda88]

1 hour ago, Dom said:

Never gonna happen, people still think Nixon spoke to three men on the moon 54 years ago using a landline, no way they will ever mine other planets it's a fantasy.

I bet you're one of those who goes around telling young kids Father Christmas isn't real. 

You spoil sport ! 🤣