Gold Monitoring Thread £ GBP only

[LawrenceChard]

On 30/03/2021 at 14:16, dicker said:

What happened today?!

This is rather late, but...

These are some of our internal Teams messages from the time, with tmes and dates:

[29/03 13:53] Lawrence Chard

This https://www.bbc.com/news/business-56564717

could have affected metal prices, I see gold is down about £20, are we topping up? we still want to reduce our bank balances before month end.

Credit Suisse and Nomura warn of hedge fund hit to profits

Major investment banks warn of losses after hedge fund crisis sparks share dump of billons of pounds.

www.bbc.com

[30/03 08:53] Ian

see the BB channel for the plan

https://www.theguardian.com/business/2021/mar/29/credit-suisse-nomura-archegos-sell-off-hedge-fund

[30/03 16:57] Lawrence Chard

Probably worth checking xxx again early Wednesday, to see if we should buy more of anything, especially with prices lowish

[01/04 08:04] Ian

nice little bounce in metal prices following all the deals

well called

 

(Basically, we spent all our spare money on gold, silver, and platinum, at around the £1230 mark).

I am quite happy to see is about £1270 today, with silver and platinum also similarly ahead.

Sorry, I didn't get time on the day to reflect the posts on TSF.

Maybe next time...

 

[Martin1983]

Not sure if this is the thread, BUT, i ordered from Chards in mid Feb and still not received my gold coins, not that i am panicking in the slightest but the service is horrendous, they should not be taking orders.

 

I also ordered from scottish bullion and got my coins within 6 weeks and i ordered from Aitkinson and received by the end of march, Atkinsons is the place i will be buying all my coins going forward.

 

Just a bit of info incase anyone is looking at places to purchase.

[Paul]

22 minutes ago, Martin1983 said:

Not sure if this is the thread, BUT, i ordered from Chards in mid Feb and still not received my gold coins, not that i am panicking in the slightest but the service is horrendous, they should not be taking orders.

Were you made aware of this at point of ordering ?

was there warning you would get a delay ? 

did the web site make it appear items were in stock for immediate dispatch ?

[Pipers]

25 minutes ago, Martin1983 said:

Not sure if this is the thread, BUT, i ordered from Chards in mid Feb and still not received my gold coins, not that i am panicking in the slightest but the service is horrendous, they should not be taking orders.

 

I also ordered from scottish bullion and got my coins within 6 weeks and i ordered from Aitkinson and received by the end of march, Atkinsons is the place i will be buying all my coins going forward.

 

Just a bit of info incase anyone is looking at places to purchase.

 In my experience they would of emailed you and offered you an alternative or you wait in order with everyone else.  I once waited nearly 6 months.

I have waited just as long with another dealer who took my order over the internet and at the same time sold the same coin over the counter i waited for the dealer to source the another coin.

Chards have been going a long time You will get your coins.   

 

[DarkChameleon]

2 hours ago, Pipers said:

 In my experience they would of emailed you and offered you an alternative or you wait in order with everyone else.  I once waited nearly 6 months.

I have waited just as long with another dealer who took my order over the internet and at the same time sold the same coin over the counter i waited for the dealer to source the another coin.

Chards have been going a long time You will get your coins.   

 

That is not a good sign of quality customer service, keep them separate to avoid those kinds of mistakes and if you must then update the 9nline before selling the coins physically.

[Martin1983]

2 hours ago, Pipers said:

 In my experience they would of emailed you and offered you an alternative or you wait in order with everyone else.  I once waited nearly 6 months.

I have waited just as long with another dealer who took my order over the internet and at the same time sold the same coin over the counter i waited for the dealer to source the another coin.

Chards have been going a long time You will get your coins.   

 

I am not even slightly concerned about getting the coins I know they will come I just think it’s crazy they are selling with an idea of timescales.

 

they did email me and say I could have an alternative options to buy other coins but obviously at the price I paid.

 

I just thought I would post as Atkinson seems to be a lot quicker.

[Martin1983]

19 minutes ago, DarkChameleon said:

That is not a good sign of quality customer service

That’s my main issue they are selling taking the money and the only option is wait or select coins you didn’t order.

no concerns on my part about the order eventually coming, I just think the service levels are bad at Atkinson’s seem to be a lot better.

[DarkChameleon]

7 minutes ago, Martin1983 said:

That’s my main issue they are selling taking the money and the only option is wait or select coins you didn’t order.

no concerns on my part about the order eventually coming, I just think the service levels are bad at Atkinson’s seem to be a lot better.

Its ok for a collector but imagine if your intent was to flip...it ties up capital for months...maybe even killing off the profit window.

[DarkChameleon]

1 minute ago, DarkChameleon said:

Its ok for a collector but imagine if your intent was to flip...it ties up capital for months...maybe even killing off the profit window.

I bought an isle ofmann 3 oz silver coin from powercoin in February, it was stated it would be shipped my mid March, which then became April and now its May...taking money without fixed dates or fixed stock is not quality customer service...especially when you can order coins that have pre order status but shipping in two weeks, what is the intend?, to choose which coins to make at what times and push others back for months?...I think when a supplier has to take 4 months to supply a product they should maybe use a different supplier.

[dicker]

Gold back at 1270.  US CPI up, sabre rattling over Ukraine I suspect....

[HerefordBullyun]

31 minutes ago, dicker said:

Gold back at 1270.  US CPI up, sabre rattling over Ukraine I suspect....

Nope I know the reason The monthly US inflation figures released today, thats pushed gold up generaly in all currencies. Theres strong rumors that JP morgan also has been lending thier physical out to other banks mainly bank of america to the tune of 8bn and sold it to the ETF market. if this continues we are going to see serious blowouts in the market - Hold tight Stackers this is going to be very interesting few months!  I am getting more and more bullish on metals day after day. 

The cartel are now starting to lose the battle. The inflation figures arent realistic what they are supplying this inturn is going to push all currencies up against gold prices including GBP. Popcorn at the ready lads and Lasses.

Edited April 13, 2021 by HerefordBullyun

[Midasfrog]

The gold price increase may be partly due to all non essential shops reopening in the UK including Jewellery shops selling / buying gold 

 

[Scaffstacker]

1 hour ago, Midasfrog said:

The gold price increase may be partly due to all non essential shops reopening in the UK including Jewellery shops selling / buying gold 

 

Very good point brother.

[GoldenGriffin]

If gold kept up with Bitcoin within the last few years, what would you have bought?

Physical gold or digital Bitcoin?

Crypto currencies were discussed in the 90's, so there has been an awareness of them for quite sometime and find it interesting that they've appeared now while struggling to find large gold deposits to mine. 🤔

I sometimes wonder whether Bitcoin is being used as a "test case" for gold?  If people bought 1 Bitcoin at a £5k rate... then try £10k... then again at £20k...£40k... and so on.

If I had the power to syphon debt into a "test case" plausible asset, I would, as this would give me a good idea on how big to reset gold.

If someone buys 1 Bitcoin for £40k, then if you stimulate the gold Market in the same way, then someone will buy 1 oz of gold for at least that much.

That would make a quarter oz gold coin worth £10k - not bad eh, and makes me think that £600 for a proof quarter oz gold coin is cheap 😉

Edited April 15, 2021 by GoldenGriffin
.

[Foster88]

On 09/04/2021 at 23:32, Touvex said:

May I ask why you would advise Bitcoin over gold right now? Gold is at its lowest for years. And Bitcoin hasn’t been higher, ever. If history repeats, Bitcoin will drop soon - surely that’s when we should buy in.

More so - as the inevitable recession comes, I think risky assets like Bitcoin will suffer.

Gold price should also increase as the money printing starts to effect fiat values. Again, we can look at history and what happened to gold after 2008.

All just assumptions from me of course so happy to hear your thoughts mate.

Gold isn't at its lowest for years, gold is at it lowest on the past year. Look at the charts and you'll see that gold is in fact still (but not at the peak of summer 2020) at an all time high.

[sixgun]

Finding support on the lower parallel. 

[SidS]

I think we gold bugs often overlook a very important social point. I can only speak for the UK here by the way.

But I don't think most people think of gold as money. People know gold has value but it's generally viewed as simply jewellery, and a couple of old coins etc. I suspect many people are quite happy to liquidate it for what they consider 'real money' (fiat currency - ironically).

Bitcoin does something else, kind of like stocks/shares or a bank account of sorts. I guess people think of it as an investment vehicle, a quick shot to turn a profit, kind of like gambling/playing the lottery, money in the bank. I just think as a model it fits into what people expect of money in the modern world.

Perhaps the Keynesians have just been very successful at removing gold from its recognised role as real money, in the eyes of the majority of the population. They've clearly failed with us of course, but what percentage of the population think like we do, or can see gold for what it truly is?

This is of course is a cultural thing. Go to India and the situation is very, very different of course. Gold is and always has been valued.

[stefffana]

8 minutes ago, SidS said:

I think we gold bugs often overlook a very important social point. I can only speak for the UK here by the way.

But I don't think most people think of gold as money. People know gold has value but it's generally viewed as simply jewellery, and a couple of old coins etc. I suspect many people are quite happy to liquidate it for what they consider 'real money' (fiat currency - ironically).

Bitcoin does something else, kind of like stocks/shares or a bank account of sorts. I guess people think of it as an investment vehicle, a quick shot to turn a profit, kind of like gambling/playing the lottery, money in the bank. I just think as a model it fits into what people expect of money in the modern world.

Perhaps the Keynesians have just been very successful at removing gold from its recognised role as real money, in the eyes of the majority of the population. They've clearly failed with us of course, but what percentage of the population think like we do, or can see gold for what it truly is?

This is of course is a cultural thing. Go to India and the situation is very, very different of course. Gold is and always has been valued.

Yes, I totally agree with your opinion.

But I've seen a lot of new stackers from last September until now. I think a lot of them are now more informed after watching YouTube videos about precious metals, there are hundreds of very good influencers. Also, after what happened in February with the silver's price, another millions enrolled in PM.

Another observation: I've seen on forum another trend: old stackers selling some gold and silver to move into crypto. It is a smart move, to have some from your money invested in something new, apparently with a good potential. 

[SidS]

11 minutes ago, stefffana said:

 

But I've seen a lot of new stackers from last September until now. I think a lot of them are now more informed after watching YouTube videos about precious metals, there are hundreds of very good influencers. Also, after what happened in February with the silver's price, another millions enrolled in PM.

I hope that more people will wake up to what is going on and realise the real state of the economy. PMs are real wealth, not illusionary. It's a long journey but hopefully the mess we are in is so obvious that people can see the cracks in the system.

[dicker]

Gold still holding steady at 1280 something.  

China and Russia both exerting pressure (at the very least) on sovereign territories, which I suspect is deliberately co-ordinated to cause a headache for the US.

This, I suspect will support gold prices in the short term.  If it all kicks off in Taiwan or Ukraine then gold really will spike. 

[GoldenGriffin]

China been testing digital currency and accepting it, not necessarily liking it. Expected rollout as soon as February 2022.

China 🇨🇳  buying gold jewellery.

Could be one of many reasons for the slight increase in gold?

Interesting video.

 

 

[Michal]

1 hour ago, stefffana said:

Yes, I totally agree with your opinion.

But I've seen a lot of new stackers from last September until now. I think a lot of them are now more informed after watching YouTube videos about precious metals, there are hundreds of very good influencers. Also, after what happened in February with the silver's price, another millions enrolled in PM.

Another observation: I've seen on forum another trend: old stackers selling some gold and silver to move into crypto. It is a smart move, to have some from your money invested in something new, apparently with a good potential. 

There is a reason why people always back to gold after fiat currency rant. I am simple man, I see them print like crazy, I buy more PM. Question is not, If it end up in mess, question is when. Situation right now look like pure madness. They "struggle" to get inflation of 2% but my shopping basket went up ~15%. No point of holding cash now IMHO. 

[GoldenGriffin]

This is interesting too, pushing gold buyers towards crypto currencies and confirms digital currencies were discussed in the 90's.

Talks about sovereigns being exempt from having to hand in, or as he puts it "confiscated".

One of many channels I follow. 

 

 

Edited April 16, 2021 by GoldenGriffin
.

[GoldenGriffin]

2 minutes ago, Michal said:

They "struggle" to get inflation of 2% but my shopping basket went up ~15%. No point of holding cash now IMHO. 

Agree.

And it's a basket of goods that are baked into the inflation rate.

So, shopping can go up (and so can other things), but to counteract that, other goods are reduced, so it all balances within target.

It wouldn't surprise me if those 'other' goods benefit the few.

[dicker]

Two things that I think could impact the price of gold in GBP (in the future)

- Attack on Bitcoin - technical or governmental (controls / tax)

- Move to a digital currency - where the government can see what everyone is doing with their money.  If there is no cash, gold and silver may well benefit as they are truly untraceable

Best

Dicker