Gold Monitoring Thread £ GBP only

[Midasfrog]

Do you know anything about this @Paul ?

[Paul]

20 minutes ago, Midasfrog said:

Do you know anything about this @Paul ?

Wasn't me. I'm in the pub 🍺:) 

[Brit2023]

2 minutes ago, Paul said:

Wasn't me. I'm in the pub 🍺

Selling 5g gold bars in there are you?

[Dankanugget]

Royal mint has applied lost revenue due to errors in charging for gold products . This may affect spot price forthwith.

[Darr3nG]

4 minutes ago, Dankanugget said:

Royal mint has applied lost revenue due to errors in charging for gold products . This may affect spot price forthwith.

Should we send the bars back?

[Paul]

14 minutes ago, Brit2023 said:

Selling 5g gold bars in there are you?

Never bought any. Skint 

Still paying down two platinum jubilee pf70 five sovereigns for the next 4-5 months

Will be rewarded in retirement when I'm sat licking the sunny window I'm sure 

[Leonmarsh]

Just now, Paul said:

Never bought any. Skint 

Still paying down two platinum jubilee pf70 five sovereigns for the next 4-5 months

Will be rewarded in retirement when I'm sat licking the sunny window I'm sure 

I got my dog ready for the to da moon shout 

[Darr3nG]

1 minute ago, Paul said:

Still paying down two platinum jubilee 50p's

They were free with every bar order...

[Paul]

Just now, Darr3nG said:

They were free with every bar order...

There'll be an abundance of them here I. For sales threads here for the next year

Who wants small gold bars ? How common

Big gold or go home is best

[9x883]

Quite unexpected this rise or maybe not? Not really been following this week. Started the week at £1595 ending £1630?

[RDHC]

From what I read, it's the result of a weaker dollar against a basket of currencies (the DXY). Therefore your average dollar buys you that much less gold.

 

[Midasfrog]

8 minutes ago, 9x883 said:

Quite unexpected this rise or maybe not? Not really been following this week. Started the week at £1595 ending £1630?

Probably world events pushing up gold again 👍

[HonestMoneyGoldSilver]

4 minutes ago, RDHC said:

From what I read, it's the result of a weaker dollar against a basket of currencies (the DXY). Therefore your average dollar buys you that much less gold.

 

This is true that DXY is down 3.2% in the last month:

 

HOWEVER, gold is up 4.6% in the last month:

 

AND if we go back to the first chart we can see DXY is UP by 6.6% in the last 5 years which would mean that gold is down .... but .... gold is up 68% in that period

 

Definitely true that DXY is an important component of gold price and gold is often described as the inverse of the USD but this relationship is not perfectly correlated. Causation in gold price action has more important factors than just DXY

If you want to follow this on a daily basis this index from kitco is really useful and simple to understand. It breaks down the daily price action according to normal trading and strength (or weakness) in USD:

Kitco Gold Index | How US Dollar Impacts Value of Gold | KITCO

[Midasfrog]

23 minutes ago, Leonmarsh said:

I got my dog ready for the to da moon shout 

Have a safe journey my little friend 😃

[CANV]

As a civilised Englishman, gold can only be priced in sterling and per sovereign.  That’s £ 383 smackers.   

Edited December 1, 2023 by CANV

[SlowFrog]

The price goes up every time I'm ready to buy some and then I can't bring myself to do it because it was significantly cheaper last week and will probably be again once I do pull the trigger. So I end up getting fat with puff-pastry mince pies instead.

[CANV]

Just now, SlowFrog said:

The price goes up every time I'm ready to buy some and then I can't bring myself to do it because it was significantly cheaper last week and will probably be again once I do pull the trigger. So I end up getting fat with puff-pastry mince pies instead.

Don’t worry. You won’t buy when it goes down as the price is Collapsing.  It’s the nature of markets. Everyone does it 

Just now, CANV said:

Don’t worry. You won’t buy when it goes down as the price is Collapsing.  It’s the nature of markets. Everyone does it 

What mince pies ? 

[RDHC]

Just now, SlowFrog said:

The price goes up every time I'm ready to buy some and then I can't bring myself to do it because it was significantly cheaper last week and will probably be again once I do pull the trigger. So I end up getting fat with puff-pastry mince pies instead.

I do have to say that I admire/share your preference for puff pastry mince pies. I do not like the heavy short pastry versions.

[HonestMoneyGoldSilver]

1 hour ago, Upsidedown said:

Oh no. Never correct HMGS.

You've just earned yourself a 5 page chatGPT reply.

I love being corrected. I have an argumentative debate style and strong views. This may come across as narcissism or a superiority complex but the truth is I'm looking to be torn to shreds, there's nothing I love more than to be proven wrong. I love it when someone or something forces me to re-evaluate my position and life choices. I love competition and the more I lose the better I get

1 hour ago, HonestMoneyGoldSilver said:

Wow I forgot I was that good and accurately called the bottom as well as the top. Thanks for reminding me 🍺

This makes me sound like a ::insert word from James' 5g gold bar thread:: but it's supposed to be a joke. I made an hypothesis and followed the logic to get to those price predictions. I may have been correct but I was right for the wrong reasons. I expected the Fed, BoE and ECB to take a slightly different path (raise to 6% then cut back to 4.5%) and I didn't predict the Israel situation

It's a worthwhile exercise to try and make your own predictions. If you're an investor you must have buy and sell price targets. If you are a sheep you just do what everybody else does and listen to the 'experts'. I've made a point in recent years of trusting my predictions for the bottom of the market which is the most important one for me as I'm exclusively a gold buyer, not a gold seller. If you are seeking to accumulate gold or any asset or security then you should have at least a rough idea of your buying and selling windows

[gji25]

2 hours ago, Paul said:

" Reasons " 

 

[Guest]

28 minutes ago, Midasfrog said:

Probably world events pushing up gold again 👍

Time to buy more BAE?

[James32]

Can someone donate their platty jubilee 50p ffs

[AOB]

1 minute ago, James32 said:

Can someone donate their platty jubilee 50p ffs

I’ll swap for 5g gold bar 👍🏽

[HonestMoneyGoldSilver]

That's officially a new ATH close for gold in USD. We'll get the GBP close next week:

 

[gji25]