Gold Monitoring Thread £ GBP only

[Robda1986]

27 minutes ago, Shep said:

What’s the consensus then? It’s languished at this £1310 level for a few hours now. Do we think we’ve seen the bottom? 

My gut is telling me we'll see 12s soon then it'll pick back up again 

[5huggy]

13 minutes ago, pablitto83 said:

https://www.kitco.com/news/2021-01-08/Can-gold-price-drop-below-1-800-next-week-Here-is-what-s-behind-the-shocking-selloff.html

Thats from last month.

Looks like situation in US - they will print few trilion of USD, big pays of benefits to citizens, and all the money goes to the crypto and stock exchange. Look at the BTC and ETH, market cap on crypto exchanges goes up and up. If street and Wall Street see that can make more elswere, there is less demand for gold. My assumption. Just checking gold price, keep going down.. We will see where the bottom will be, so it will be an opportunity to but some. For me it is to keep for a long run, so I am not panicking..

Yep - till they "capitulate" from digits (worse than paper) to try and get "PHYSICAL"!

[OldNick]

Roller coaster afternoon ! Should just have enough time to climb back up for my month end purchase😀

feels more comfortable at this price and below...... 

[FlorinCollector]

Usual batter down afternoon tomorrow? Hopefully

[pablitto83]

I am waiting for some sovs from Chards. If they would have something off the shelf, and price lower, they apparently can swap. Problem is, that all physic is going faast.

I wanted to top up my silver just recently, and this hiccup started - spot 1GBP up, but premium skyrocket. Look at the premiums of gold/silver at dilers - those they have in stock. Premium goes up.. Even on gold, to keep the price up

[Foster88]

9 hours ago, Paul said:

What happened to him?

Edited February 5, 2021 by Foster88

[Stacktastic]

21 hours ago, richatthecroft said:

 

Maybe reactive to this delusion bull***t? 

https://www.bbc.co.uk/news/business-55934405

 

Oh great - that basically means the economy is screwed. 
I wish people would realise a most the time whats reported is the complete opposite. 

"the economy is in a real state" = we have too much money dont go out and spend it please
"the economy is really great" = we have spent all our budgets and are broke
Invent black friday to force people to go out and buy a bunch of c**p they don't need.

18 hours ago, Midasfrog said:

News about the success of the vaccines could push it back down a few more £ 

I think your right there, I have rescued a proportion of mining stock funds and will sit it out and wait. 
TSWHTF sooner or later this year, when the following happens: 

1: People who have taken the vaccine might start dying/getting seriously ill. 
2: Stimulus stops, unemployment skyrockets
3: civil unrest, civil war and an ever more annoyed public vent frustration
4: crypto crashes and burns or is banned
5: inflation kicks in and things starts to get very expensive
6: the stocks market & housing bubble has a colossal collapse
7: Ronal Mc Donald & Daffy duck a-ssassinate the pr-esident. 

Edited February 5, 2021 by Stacktastic

[5huggy]

4 minutes ago, Stacktastic said:

5: inflation kicks in and things starts to get very expensive

 

    Global food prices have reached their highest in almost seven years, further raising the spectre of food inflation and hunger at a time when the Covid-19 pandemic continues to hit economies around the world.

The UN Food and Agriculture Organization’s food price index for January rose by a tenth from a year ago to its highest level since July 2014, led by a sharp increase in grain prices. Substantial buying of corn by China and lower-than-expected production in the US helped send the gauge — which tracks a basket of food commodities against their 2014-16 prices — to its eighth consecutive monthly increase, the longest rising streak in a decade.

Prices are not yet at levels seen during the food crisis of the late 2000s, but the trajectory was a concern, said analysts. “It could become a big issue for less prosperous countries which depend on imports for food,” said Abdolreza Abbassian, senior economist at the FAO. 

China is seeking to restore its grain reserves, as well as keeping a lid on domestic prices while it rebuilds a hog herd that was decimated by African swine fever. The pandemic has also prompted countries reliant on imports for staples to boost government-held inventories in grains and oilseeds such as soyabeans, as well as sugar.

Food prices have also been affected by dry weather in South America, a leading supplier of corn and soyabeans to international markets, while expectations of a rise in export tariffs in leading wheat exporters such as Russia have also pushed prices higher.

The continued disruption in the shipping industry is another factor: freight prices for grains and oilseeds are at their highest levels since October 2019 according to the International Grains Council, a global body.
From here - - - > > https://www.ft.com/content/571a9d68-c8b5-4c56-a539-26fff81e9296

[Paul]

10 hours ago, Foster88 said:

What happened to him?

probably hosts a crytpo youtube channel pushing dogecoin 

[Stacktastic]

11 minutes ago, 5huggy said:

Global food prices have reached their highest in almost seven years

Oh good I can tell my wife i am not crazy as I made her by enough rice, beans (non perishables) to feed our whole road for a year.

The thing about inflation is some things go up and some tings go down, or stay the same at least. 
Its just a case of not buying steak and buying chicken or fish - or beans. 
Im considering building a fish farm in the garden if it gets that bad though. 

Fuel goes to $100 a barrel? no problems - build a bio fuel plant and make friends with the fish and chip shop owner LOL.
Or buy a bike.  

 

Edited February 5, 2021 by Stacktastic

[5huggy]

3 minutes ago, Paul said:

probably hosts a crytpo youtube channel pushing dogecoin 

 

Appropriate - since if you read "dogecoin" phonetically - "DODGY COIN"!

[5huggy]

3 minutes ago, Stacktastic said:

Oh good I can tell my wife i am not crazy as I made her by enough rice, beans (non perishables) to feed our whole road for a year.

The thing about inflation is some things go up and some tings go down, or stay the same at least. 
Its just a case of not buying steak and buying chicken or fish - or beans. 
Im considering building a fish farm in the garden if it gets that bad though. 

Fuel goes to $100 a barrel? no problems - build a bio fuel plant and make friends with the fish and chip shop owner LOL.
Or buy a bike.  

 

JUST bear in mind Buddy! -

the "groomed" figures we are given by the "Government" are constantly manipulated to their favour -

they are forever changing the "basket" to SUIT keeping the "MINION's " calm!

[Stacktastic]

13 minutes ago, 5huggy said:

JUST bear in mind Buddy! -

the "groomed" figures we are given by the "Government" are constantly manipulated to their favour -

Yeah precisely. I read that the US government replaced beef with chicken in stats some time back, obviously rigged. 
A lot of the time its the governments or people in charge of the sectors that don't want to look bad. 
After all its their job to do their best, so even on smaller scales (like a work place or even at school)
its human nature to dress up a bad situation or 'manipulate' it a bit to thier favour. 

But looking at some of the public this year and just the reactionary nature of them (including most my own family)
I can why they would need to herd them in the right direction at times,
especially if they are conditioned not to question authority from birth. 

When my dad speaks its literally word for word what the BBC or daily mail has told him how to think. 
Present a plausible, 100% factual & well educated opinion against it and your a immediately a conspiracy theorist. 

Edited February 5, 2021 by Stacktastic

[5huggy]

1 minute ago, Stacktastic said:

When my dad speaks its literally word for word what the BBC or daily mail has told him how to think. 

OMG!

NOT THE DAILY MAIL DOOM SHEET! 😉🤣🤣🤣

[Stacktastic]

14 minutes ago, 5huggy said:

OMG!

NOT THE DAILY MAIL DOOM SHEET! 😉🤣🤣🤣

Yes this is a man that now hates Chinese people (all 1.5 billion of them) as he thinks they let a bat out of a bio weapons lab and sold it in a market & thats what caused the CV pandemic. 
Nice guy mind you but i have worked very hard on myself to iron out the damage he has done in some areas, especially when it comes to self enlightenment LOL. 

I just had a thought guys, not sure if this has been mentioned?
I noticed a ton of mining stocks becoming popular in this whole short selling silver palaver last week. 
Especially the ones in Nevada. LODE (Comstock mining is just one example). 

The Royalty companies shot up & do not only deal in silver but also Gold. 
Most of the buyers are not usually interested in metals, and would only usually swing trade a stock.

Thats ignoring the bag holders that, bought the hype, got in late and are cutting thier losses. 
Maybe as it hit at USA opening time (and Toronto) that was just a sell off of stocks? 
Interesting to see what happens on open today, but it could bounce back very nicely if superb deals present themselves. 
Im 28% down on one stock, not so good for me but great for anyone trying to get in near the bottom. 

Edited February 5, 2021 by Stacktastic

[KPW82]

2 hours ago, Stacktastic said:

1: People who have taken the vaccine might start dying/getting seriously ill. 

Hope not I had mine last week 🤣

[5huggy]

27 minutes ago, KPW82 said:

Hope not I had mine last week 🤣

LAST week is "EXEMPT"!!  🤣🤣🤣🤣🤣🤣

[Foster88]

2 hours ago, Paul said:

probably hosts a crytpo youtube channel pushing dogecoin 

No he’s not, he’s been writing his autobiography. 😂

Edited February 5, 2021 by Foster88

[mousefu]

8 hours ago, Stacktastic said:

7: Ronal Mc Donald & Daffy duck a-ssassinate the pr-esident. 

What do you know that we don't.

[5huggy]

1 minute ago, mousefu said:

What do you know that we don't.

 

[Stacktastic]

17 hours ago, mousefu said:

What do you know that we don't.

Nothing really just trying to inject some humour in to this years shenanigans.

This should help the gold price, or at least the paper markets. 
https://www.nytimes.com/live/2021/02/05/us/joe-biden-trump-impeachment 

[AuricGoldfinger]

might need to buy some more gold soon to bring my gold allocation back up to scratch as its fell off a cliff

[Stacktastic]

Fabulous video here guys. Guess most of you watch Kitco anyway??. 
I think its the Chinese new year towards the end of this week - so watch out for Friday & Monday. 

Im kind of hoping for a sudden drop down before a rally, so I can buy some physical.. 
All it needs is a stock market or bitcoin crash and I would assume money will plough into gold. 
Im no expert, this month has confused me!  

I know it says mining stocks, but its relevant to the overall price of gold.
 

 

Edited February 11, 2021 by Stacktastic

[Nick1368]

Gold price is very low at the moment but premiums are still very high and some bullion coins are quite hard to find like Britannia and American Buffalo .

[Kman]

gold is following US long bonds down as yields go up

Might be the positive vaccine study from Israel

Might be some news in the US I haven't seen

Edited February 15, 2021 by Kman