Gold Monitoring Thread £ GBP only

[Paul]

  

" Gold always goes up on a Friday " 

[Coverte]

Gold is just moving sideways and IMO will continue to do so for the rest of 2023, likely into 2024 too.

Then,(or before) something will 'break' - and we have a pretty big choice:

• Fed = broke
• ECB = broke
• BOE = broke
• Gold = ~ 80% now in BRICS hands?
• Banks = broke

(but on average, UK gold value is 10%/year up since 2000 [nominal of course].) - so long term holders = pretty good 👍

Whatever breaks first nobody knows, but after 15+ years of funny money printing, we have the potential for bigger devastation than the 2008 crisis, much bigger.

If anyone cares to put the work looking into it, the money, if you  have a 3-5 year investment window, is in those mining shares;

some of the most insanely low valuations I've seen for many years and that includes some epic mines which also have copper - that's too has got a long way to go given current price, which currently = no new mines for 10+ years.  

I firmly believe we're on the right track financially with our stacks, just patience req'd............

Edited November 3, 2023 by Coverte

[HerefordBullyun]

3 minutes ago, Coverte said:

Gold is just moving sideways and IMO will continue to do so for the rest of 2023, likely into 2024 too.

Then,(or before) something will 'break' - and we have a pretty big choice:

• Fed = broke
• ECB = broke
• BOE = broke
• Gold = ~ 80% now in BRICS hands?
• Banks = broke

(but on average, UK gold value is 10%/year up since 2000 [nominal of course].) - so long term holders = pretty good 👍

Whatever breaks first nobody knows, but after 15+ years of funny money printing, we have the potential for bigger devastation than the 2008 crisis, much bigger.

If anyone cares to put the work looking into it, the money, if you  have a 3-5 year investment window, is in those mining shares;

some of the most insanely low valuations I've seen for many years and that includes some epic mines which also have copper - that's too has got a long way to go given current price, which currently = no new mines for 10+ years.  

I firmly believe we're on the right track financially with our stacks, just patience req'd............

Yes agreed I bought the dip. Heavily undervalued some mining stocks now.

[LemmyMcGregor]

10 minutes ago, HerefordBullyun said:

Yes agreed I bought the dip. Heavily undervalued some mining stocks now.

Same here, I don't throw much that way, but whatever little I get is going mining or postal.

[HerefordBullyun]

Quite a notable article peeps follow the money....

https://www.zerohedge.com/commodities/central-banks-course-colossal-year-gold-buying 

[JohnA1]

2 hours ago, Coverte said:

..

If anyone cares to put the work looking into it, the money, if you  have a 3-5 year investment window, is in those mining shares;

some of the most insanely low valuations I've seen for many years and that includes some epic mines which also have copper - that's too has got a long way to go given current price, which currently = no new mines for 10+ years.  

...

The old definition of a mining share was "a hole in the ground and a liar in front of it"

Harsh, but I feel it's got quite some truth in it

That's not to say all mining shares are scams of course, but there's a lot of debris in there...

[JohnA1]

10 hours ago, gji25 said:

Dont forget that when there is a conflict wherever in the world the weapons supplier is paid in $

 

Did the US accept $ for tanks and military supplies during WW2?

eeermm nope, they demanded to be paid in gold

[BLOOMMAN101]

nice little jump @12.30

Edited November 3, 2023 by BLOOMMAN101

[HerefordBullyun]

Breaking NFP was a miss Gold liked it unemployment is up and the figures werent that good COMEX trying to monkey hammer it down after hit 2004 now at 2000 

Edited November 3, 2023 by HerefordBullyun

[BLOOMMAN101]

yanks open at 13.30 due to daylight savings, don't they??

[HerefordBullyun]

The london paper dump had happened 10 minutes before US opens at 1330

[CaptCaveMan]

1 minute ago, HerefordBullyun said:

The london paper dump had happened 10 minutes before US opens at 1330

Fine by me, hope they keep dumping so I can get some more Sovs before the end of the year 👍

Under £1,620 at the moment...

[Gruff]

They'll short te sh*t out of the paper to make it look worse than stocks and shares

[BLOOMMAN101]

that was an interesting hour

[BLOOMMAN101]

a new ATH by close tonight?   yes/no ?

[theman73]

1 minute ago, BLOOMMAN101 said:

a new ATH by close tonight?   yes/no ?

No, last Friday ATH was manipulation

[gji25]

No Ath today

 

Edited November 3, 2023 by gji25
typo

[silversky]

Will we see a rise into the weekend?  Or will this crash below £1600 for a solid correction?  I think this middle east drama is coming to a point where it will either start to spread, or it will be obvious that the Americans have enough firepower on location to keep a lid on it.  My feeling is the latter, and that it will be bearish short term for gold.

But just in case it does kick off.... how many of us have our tickets for this comfy bunker?  Not many I'm guessing...

Bonus of living in a vault... no need for a separate vault to store all your gold.  

 

[BLOOMMAN101]

Just now, gji25 said:

No

 

long time between now and 9pm

[silversky]

14 minutes ago, BLOOMMAN101 said:

that was an interesting hour

 

More interesting in Silver.  It's up...  Gold down 0.5%, Silver up 1.2%

[Gruff]

7 minutes ago, silversky said:

Will we see a rise into the weekend?  Or will this crash below £1600 for a solid correction?  I think this middle east drama is coming to a point where it will either start to spread, or it will be obvious that the Americans have enough firepower on location to keep a lid on it.  My feeling is the latter, and that it will be bearish short term for gold.

But just in case it does kick off.... how many of us have our tickets for this comfy bunker?  Not many I'm guessing...

Bonus of living in a vault... no need for a separate vault to store all your gold.  

 

I think the US and it's claimed munitions caches are all bluff and bluster. They've spunked loads to The Ukraine and other places, if they want to go in guns blazing, they would have only a handful of weeks and then be completely out. So they'd need to be targeted and accurate and we know that they aren't. But probably more suited to another thread.

[Bars]

16 hours ago, HerefordBullyun said:

The Millionaire next door, I think you will like @katyc

@James32 has a book written about his life....fair play

[Paul]

13 minutes ago, BLOOMMAN101 said:

a new ATH by close tonight?   yes/no ?

 

9 minutes ago, gji25 said:

No Ath today

 

 

11 minutes ago, theman73 said:

No, last Friday ATH was manipulation

 

To da'mooooooooooooooooooooooooon !!🚀🚀🚀

(My gold predications are NEVER wrong)  

[SiCole]

6 minutes ago, Paul said:

To da'mooooooooooooooooooooooooon !!🚀🚀🚀

(My gold predications are NEVER wrong)  

Looks like we should have bought silver!

[Paul]

2 minutes ago, SiCole said:

Looks like we should have bought silver!

ssshhhhhhhhhhhhh . . . . . . . you'll have @BeansGathererDave along to chastise you