Gold Monitoring Thread £ GBP only

[Midasfrog]

Gold SUB 1600 

NS&I account 8% protected up to 1 million ( no longer available )

[Silverlocks]

It's gone off the boil a little and been drifting down all week.  Not sure where it will settle but in the meantime I just keep cost averaging and buying into dips if the opportunity presents itself.

[Dom]

Just now, Midasfrog said:

Gold SUB 1600 

NS&I account 8% protected up to 1 million ( no longer available )

Love that it's dropping.... I neeed morrreeee shiiiiinyyyy!!! 😍

[Bogart]

The old perennial buy low sell high scenario. Now where is that damned crystal ball?

[Sanctuary79]

2 minutes ago, Bogart said:

The old perennial buy low sell high scenario. Now where is that damned crystal ball?

I think my crystal ball is upside down, or inside out - either way, gold always drops just after I buy....

[Silverlocks]

11 minutes ago, Bogart said:

The old perennial buy low sell high scenario. Now where is that damned crystal ball?

No, no, no you've got it all wrong.  The TSF creed is buy high, sell low.  It is the way.

[Gruff]

23 minutes ago, Sanctuary79 said:

I think my crystal ball is upside down, or inside out - either way, gold always drops just after I buy....

You another Aussie?

[Sanctuary79]

29 minutes ago, Gruff said:

You another Aussie?

Only in spirit, it seems!

[LemmyMcGregor]

54 minutes ago, Sanctuary79 said:

I think my crystal ball is upside down, or inside out - either way, gold always drops just after I buy....

Mine are not crystal.

[HerefordBullyun]

Next few bucks and its critical level support is around 3rd level you need to take 9 bucks ish off these price as these COMEX prices not spot.

But gold is getting a right good reaming and this could be a bad week for gold as theres no major events this week having any impacts. Powel Speaks friday but he will defend the dollar and I suspect his comments could smash gold further. Hold tight going to be bumpy. Im hoping Asia can step in overnight and take advantage of cheap prices. The Aussie central bank Hiked rates that hurt gold in Asia last night. The CRIMEX are taking full advantage of the slump..... It could be a bleak week..... 

Edited November 7, 2023 by HerefordBullyun

[VGfine]

Gold was £1498 before Hamas terrorists attacked Israel, I wonder if we will get back to that by next week.

[HerefordBullyun]

2 minutes ago, VGfine said:

Gold was £1498 before Hamas terrorists attacked Israel, I wonder if we will get back to that by next week.

I dont that makes a difference now. Isreal have already said it's going to be long war, think Afghanistan, could spill over to Lebanon also Hamas, base themselves over the border, just like Taliban did in Pakistan. Its only going to make difference if other countries start throwing boots on the ground.

Edited November 7, 2023 by HerefordBullyun

[HerefordBullyun]

Gold dipped 21 dollars from asia but its bounced off 1956 still 12 bucks down mind but least the trend has bounced upwards. Im not holding my breath until US desk opens it could be buys backs to short more next session of the London fix

[Agaupl]

59 minutes ago, HerefordBullyun said:

I dont that makes a difference now. Isreal have already said it's going to be long war, think Afghanistan, could spill over to Lebanon also Hamas, base themselves over the border, just like Taliban did in Pakistan. Its only going to make difference if other countries start throwing boots on the ground.

Just wait till the Iranians fancy a pop. If they do. Big spike. And in petrol too. 

[gji25]

1 hour ago, LemmyMcGregor said:

Mine are not crystal.

 

[HonestMoneyGoldSilver]

2 hours ago, HerefordBullyun said:

Next few bucks and its critical level support is around 3rd level you need to take 9 bucks ish off these price as these COMEX prices not spot.

But gold is getting a right good reaming and this could be a bad week for gold as theres no major events this week having any impacts. Powel Speaks friday but he will defend the dollar and I suspect his comments could smash gold further. Hold tight going to be bumpy. Im hoping Asia can step in overnight and take advantage of cheap prices. The Aussie central bank Hiked rates that hurt gold in Asia last night. The CRIMEX are taking full advantage of the slump..... It could be a bleak week..... 

Everything got smashed today. Precious metals, especially silver (-2.25%) and palladium (-4.6%). Oil down 3%. Cryptos which had a recent moon got hit hard especially XRP (down 7%). I said everything got smashed, everything except the NASDAQ and S&P. A basic assumption is the money that went from PMs, oil and cryptos went into stocks

Relax though, none of it makes sense. The explanations given by the experts are contradictory and if everything was great, oil would be going up along with the NASDAQ, but oil is at its lowest price since August (well before the Israel stuff).

On the plus side if oil has already lost more than its gains from the ME conflict then gold and silver may have lost most or all of theirs too, meaning the current price is the "real price" excluding Israel. Could be totally wrong on that but it makes some kind of sense, unlike those saying the economy is great, we're risk-on, and then watching oil and cryptos (two of the highest risk-on assets) getting smashed

As always there's a silver lining - most of us are still accumulating and it's now cheaper 🤗

[9x883]

As always there's a silver lining - most of us are still accumulating and it's now cheaper 🤗- 100% hopefully something similar to early oct.

Can grab a happy meal with my 1oz at this point right @GoldDiggerDave ? 😂

[AndrewSL76]

I wonder if all those generously selling gold ‘at spot’ will continue to do so? The last few weeks have certainly been entertaining over on the sales threads……

[9x883]

Aside from our virtual assistant @James32, does the forum have a premium chart as a rough guide to selling prices?

[HerefordBullyun]

Dont panic guys in Soloway we trust the bottom is 1920

 

[AndrewSL76]

7 minutes ago, 9x883 said:

Aside from our virtual assistant @James32, does the forum have a premium chart as a rough guide to selling prices?

Simple algorithm that confirms as spot decreases, premium increases - vice versa.

[theman73]

1 hour ago, HonestMoneyGoldSilver said:

Relax though, none of it makes sense.

Quite the opposite, hedge bets and arb's bets, the times of supply and demand are gone, it's all about finding arb's then hedging the bets.

[JohnA1]

2 hours ago, HonestMoneyGoldSilver said:

Relax though, none of it makes sense. The explanations given by the experts are contradictory..

I don't think it is meant to make sense. Too much at stake..

[GoldDiggerDave]

Woo! Back to £1,600+  roll on the ploughman's meal deal tomorrow!  

[Upsidedown]

£400 by the end of the year