Gold Monitoring Thread £ GBP only

[Coverte]

3 hours ago, EdwardTeach said:

Gregory Mannarino on YouTube is good.

 

Yes, he doesn't have a channel, but I like it when Dominic Frisby gets intervied, for one thing - he does not sell newsletters; which at times cuts out the bold header/title (clickbait) in the, IMO reasonably objective interviews which he gives now and again.

Edited September 3, 2021 by Coverte

[Paul]

1 hour ago, Coverte said:

Yes, he doesn't have a channel, but I like it when Dominic Frisby gets intervied, for one thing - he does not sell newsletters; which at times cuts out the bold header/title (clickbait) in the, IMO reasonably objective interviews which he gives now and again.

Dominic Frisby is great to listen to for his analysis of markets/financial/gold etc

his stand up comedy is very to, if you search out his comedy sketch "it pays to be a c**t"   proceed with caution if you don't like a little bad language, don't open at work 

 

[Coverte]

1 hour ago, Paul said:

Dominic Frisby is great to listen to for his analysis of markets/financial/gold etc

his stand up comedy is very to, if you search out his comedy sketch "it pays to be a c**t"   proceed with caution if you don't like a little bad language, don't open at work 

 

 

Haha - yes, that comedic channel looks very good, I didn't know of it TBH - thank you, many laughs - he is not short of time it seems!!

[Midasfrog]

On 31/08/2021 at 21:06, Midasfrog said:

Gold might drop back slightly now that the troops have pulled out of Afghanistan and 31st August deadline has passed 

Maybe 1300 next week or below ?

How did you know that 👍 your prediction was spot on its now £1299 😂

[GoldenGriffin]

Also, 1.25% national insurance hike to pay for social care (cough, cough, more like to pay for the pandemic and banking crisis - repo market), I think will drop gold lower - as low as it can go, but still covering debts it needs to cover.

[AuricGoldfinger]

Hopefully we see £1250 again as might be tempted to buy some

[Stacktastic]

10 hours ago, AuricGoldfinger said:

Hopefully we see £1250 again as might be tempted to buy some

I think £1220's again. Wish i had sold my mining stocks last week and by back next week
There is an announcement today - so we shall see what the price action is as a result. 

Edited September 9, 2021 by Stacktastic

[Midasfrog]

12 hours ago, GoldenGriffin said:

Also, 1.25% national insurance hike to pay for social care (cough, cough, more like to pay for the pandemic and banking crisis - repo market), I think will drop gold lower - as low as it can go, but still covering debts it needs to cover.

Yes that National Insurance change has had an effect on the gold price . There is also going to be some big changes with the travel restrictions very soon possibly within weeks , how will scraping the traffic lights and PCR tests effect gold will gold bounce back or a further drop ?? can anyone guess 

[Coverte]

I think it may prove good for gold, especially in the long run.

Britain’s tax burden will rise to highest in 70 years, The Institute for Fiscal Studies concluded that the extra money would not be enough to offset the big cuts in per capita spending on social care over the past decade. 

Wait until Sunak does his budget, on the one hand he knows he has to turn off the Gov't spending tap, especially as we have such a massive debt burden, but no money to repay the interest, forget the debt.

In the bigger picture, it's a pretty tempting picture for those with money, to buy physical gold with it to reduce their (paper) net worth, especially with the talk of a wealth tax at a very low threshold base.

This is currently playing out rather like the 1970's, I can remember people paying 14 - 18% interest on mortgages then.

Gold spiked to high then of $850 - at a time when US interest rates were as high as 20%.

History always repeats.

[Stacktastic]

And were back. I am feeling quite confident TBH. 

[dicker]

1296

I had expected Gold to firm up somewhat given that some Euro Junk Bonds are now negative (return < inflation).

Guess the tapering discussions may be impacting Gold.

Best

Dicker

[Stacktastic]

1 hour ago, dicker said:

1296

I had expected Gold to firm up somewhat given that some Euro Junk Bonds are now negative (return < inflation).

Yeah it does not make sense, which to me is a good buying opportunity. 
This guy has a very impressive knowledge & maybe its the german accent & confidence, its also very believable. 
He says pretty much everything I have been thinking near enough. Gold really does test your patience and nerve - especially the stocks. 

 

Edited September 13, 2021 by Stacktastic

[Spark268]

6 hours ago, dicker said:

1296

I had expected Gold to firm up somewhat given that some Euro Junk Bonds are now negative (return < inflation).

Guess the tapering discussions may be impacting Gold.

Best

Dicker

not necessarily, only more negative government bond yields are gold positive. negative junk yield is bad for gold because it means that money is chasing c**p, not quality. the euro junk market is small anyway, and dominated by niche investors who dont normally compare junk yields with sovereign prices

 

Negative junk yields though, that is something ! That means if you lend 100euros to a company that is facing bankruptcy, you only get back 99euros if the company doesnt go under. That's a lose lose bet ! 

Edited September 13, 2021 by Spark268

[Coverte]

I am surprised Janet Yellen written statement to congress last week seems to have had relatively little impact - on anything; it's a pretty disturbing and stark warning when you actually read it in black and white.

"she will run out of manoeuvring room to prevent the U.S. from broaching the government's borrowing limit in October."

“Based on our best and most recent information, the most likely outcome is that cash and extraordinary measures will be exhausted during the month of October” 

"history shows that waiting "until the last minute" to suspend or increase the debt limit "can cause serious harm" to business and consumer confidence, raise borrowing costs for taxpayers and hurt America's credit rating"

Politicians just playing chicken with a $29 billion debt is pretty dire IMO anyway; Gold price aside, one can only assume that so little forex movement in both GBP and Euro means both currencies are not in any better shape. 

 

 

[FlorinCollector]

£1,269. Nice dip hopefully continues into next week for payday!

[Booky586]

11 minutes ago, FlorinCollector said:

£1,269. Nice dip hopefully continues into next week for payday!

It's a fine line. You want it to drop for a buying opportunity and you want it to rise for you holdings. If only we knew the future.....

[Paul]

6 minutes ago, FlorinCollector said:

£1,269. Nice dip hopefully continues into next week for payday!

X3 2017 sovereigns bu bought today, +3% over spot locally. Can't complain

[FlorinCollector]

@Paul not bad at all 😎

@Booky586 I used to feel that way but i’m more convinced everyday in the long term we will do well so I hope for price drops at any point  

[Minimalist]

On 08/09/2021 at 21:28, GoldenGriffin said:

Also, 1.25% national insurance hike to pay for social care (cough, cough, more like to pay for the pandemic and banking crisis - repo market), I think will drop gold lower - as low as it can go, but still covering debts it needs to cover.

You mean a 10% increase.

More taxes, less savings to buy Gold.

[Foster88]

2 hours ago, Booky586 said:

It's a fine line. You want it to drop for a buying opportunity and you want it to rise for you holdings. If only we knew the future.....

You’re not wrong.

Mystic Meg has got nothing on me, I was just about to tidy up my gold stack and sell a few bits and it drops, when I plan to buy it goes up.

Anyone else have this feeling?

I’m going to start reading tea leaves soon....

[Bigmarc]

22 minutes ago, Foster88 said:

You’re not wrong.

Mystic Meg has got nothing on me, I was just about to tidy up my gold stack and sell a few bits and it drops, when I plan to buy it goes up.

Anyone else have this feeling?

I’m going to start reading tea leaves soon....

Yep, purchased 2 sovs yesterday at 8 am. Few hours later..... Boom

Edited September 17, 2021 by Bigmarc
Spelling

[Roy]

I sold some gold yesterday and bought platinum today.

It's all luck and it generally balances out 👍

[Foster88]

8 minutes ago, Bigmarc said:

Yep, purchased 2 sovs yesterday at 8 am. Few hours later..... Boom

It happens to us all.

I sat and hovered over the mouse to buy a 1oz 2018 Oriental gold Britannia in 2018 and it was £940. I decided not to.

I regret that. 😬 Now they sell for £1,400+ and I wish I’d bought 10.

Hind sight is a wonderful thing that none of us have at the time but we all have looking back.

But like life in gerneral, it goes up and it goes down, just like the gold price. You’ve just got to enjoy yourself inbetween.

[Hunter87]

21 hours ago, Paul said:

X3 2017 sovereigns bu bought today, +3% over spot locally. Can't complain

Where did you buy them out of interest. 

[Paul]

1 hour ago, Hunter87 said:

Where did you buy them out of interest. 

Local coin shop/dealer

in Newcastle, not online