Gold Monitoring Thread £ GBP only

[Derv]

10 minutes ago, SilverPirate007 said:

Do you think that will happen? Why now rather than at any time in the last 20 years. Don’t get me wrong I would love to see it.

I think because we have flat lining economies with at least a mild depression on the way. Gold rose during the last recession , 13 yrs ago , why not now?

Edited April 30, 2020 by Derv
Typo

[Derv]

4 minutes ago, SilverPirate007 said:

Yes I suspect as much. I am being careful though buying small amounts of gold in case it plummets.

Wise move. Won't plummet for long though I think

[KDave]

11 minutes ago, SilverPirate007 said:

Do you think that will happen? Why now rather than at any time in the last 20 years. Don’t get me wrong I would love to see it.

I have no idea sorry.

I don't buy the $400 story sorry wonga. I am bearish almost permanently, but think I have finally met my match with that one.

I like the $1350 story, as it would fit very well with some of the finest macro work I have ever seen, and will also form a handle to the multiyear cup in USD gold, then there is the seasonal nature of gold (always seems to fall into December) among other things that are all playing around my mind. That said, it is just as likely to bust through $1900 for all I know. 

[Stu]

13 minutes ago, SilverPirate007 said:

Yes I suspect as much. I am being careful though buying small amounts of gold in case it plummets.

Gold may "plummet" from here, but only in a paper price, if it hit $1500 you could not get it for that in metal (physical)  My advice is to stack to a level where you have a core stack. I have fortunately reached this level , and anything else is iceing on the cake.

incidently, don't  ask me the quantaties I stack. Suffice to say the ratios are gold:silver: platinum = 1:50:  0.1 Good luck

Edited April 30, 2020 by Stu
Cockup

[SilverPirate007]

15 minutes ago, Stu said:

Gold may "plummet" from here, but only in a paper price, if it hit $1500 you could not get it for that in metal (physical)  My advice is to stack to a level where you have a core stack. I have fortunately reached this level , and anything else is iceing on the cake.

incidently, don't  ask me the quantaties I stack. Suffice to say the ratios are gold:silver: platinum = 1:50:  0.1 Good luck

How much gold is in your stack??

i have 2 oz roughly. I do have around 500oz of silver though 

Edited April 30, 2020 by SilverPirate007

[KevjustKev]

Can the drop be because there is no new gold coming to the market, and it may take. The mines are closed(?) and now it's just time to wait? Like I have X on paper and now there is nothing to back it up and get out now?

[goldmember44]

Buy the dips is a good idea.

[DarkChameleon]

3 hours ago, tallthinkev said:

Can the drop be because there is no new gold coming to the market, and it may take. The mines are closed(?) and now it's just time to wait? Like I have X on paper and now there is nothing to back it up and get out now?

People are selling cos they need cash...today is 1st of may, bills need paying.

Edited May 1, 2020 by DarkChameleon

[TheApe]

1 minute ago, DarkChameleon said:

People are selling cos they need cash...today is 1st of may, bills need paying.

DarkChameleon, have you surveyed the sellers and reviewed why they are selling?

[DarkChameleon]

25 minutes ago, TheApe said:

DarkChameleon, have you surveyed the sellers and reviewed why they are selling?

I buy and sell jewelry, my spots for buying jewelry have gone from about 50 to 60 over the last year to over 500 selection from private sellera, what does that tell you?.

 

[TheApe]

2 minutes ago, DarkChameleon said:

I buy and sell jewelry, my spots for buying jewelry have gone from about 50 to 60 over the last year to over 500 selection from private sellera, what does that tell you?.

 

I dont know what you are saying?, maybe instead of asking me what you are saying, just tell us.

[DarkChameleon]

1 hour ago, TheApe said:

I dont know what you are saying?, maybe instead of asking me what you are saying, just tell us.

I am seeing ten times and more of the luxury jewelry sellers, not a blib but a massive increase in top line jewelry sales....and maybe only triple the amount of buyers...so more people selling but nowherenear as many buying, rolex and prices are dropping, still second hand they ate above retail but thet have dropped on average $3000 each...thats a big deal too...people need money, perhaps to pay rent, employees, taxes, etc but they are selling and not everyone is buying..so prices drop not rise.

[TheApe]

12 minutes ago, DarkChameleon said:

I am seeing ten times and more of the luxury jewelry sellers, not a blib but a massive increase in top line jewelry sales....and maybe only triple the amount of buyers...so more people selling but nowherenear as many buying, rolex and prices are dropping, still second hand they ate above retail but thet have dropped on average $3000 each...thats a big deal too...people need money, perhaps to pay rent, employees, taxes, etc but they are selling and not everyone is buying..so prices drop not rise.

You really think this is down to the sale of physical gold..... I think this movement is mainly due to some whales selling a lot on the market.

 

[DarkChameleon]

2 hours ago, TheApe said:

You really think this is down to the sale of physical gold..... I think this movement is mainly due to some whales selling a lot on the market.

 

One person selli s amillion ounces or one million sell one ounce...almost every country including gold loving peoples countries are needing money, do you think theyll crack open their pensions or their old jewelry boxed goodies?...and who right nkw isgoing to pay 3 times scrap for jewelry?....both sides squeezed.

[TheApe]

3 minutes ago, DarkChameleon said:

One person selli s amillion ounces or one million sell one ounce...almost every country including gold loving peoples countries are needing money, do you think theyll crack open their pensions or their old jewelry boxed goodies?...and who right nkw isgoing to pay 3 times scrap for jewelry?....both sides squeezed.

You really think millions are selling physical gold over the last 2 days?, interesting take.

[GoldenPhil]

30 minutes ago, TheApe said:

You really think millions are selling physical gold over the last 2 days?, interesting take.

Not taking a view of whether this is correct but it happened in Thailand a few weeks ago and Turkey and Lebanon seem to be in trouble. 

[DarkChameleon]

1 hour ago, GoldenPhil said:

Not taking a view of whether this is correct but it happened in Thailand a few weeks ago and Turkey and Lebanon seem to be in trouble. 

I think theres a bunch of debts come duecand a bunch of gold has hit the market so wonder why, the mints arent making it, the mines arent digging it so....?

[Cointreau]

Battle royale around the 1700 mark. I think gold will rise to 1740 shortly. Could be wrong though.

Edited May 5, 2020 by Cointreau

[GoldenPhil]

It is rises significantly here it could be off like a rocket. If it fails it falls 

[TheApe]

Its good to see gold make a push when I purchased this morning.

Even if only small push and if its short-lived.

[GoldenPhil]

Gold up

Stocks up

It's almost like the government has pumped lots of money into the system and big banks dont know what to do with it all.

[Foster88]

8 hours ago, GoldenPhil said:

Gold up

Stocks up

It's almost like the government has pumped lots of money into the system and big banks dont know what to do with it all.

For now....

[AuricGoldfinger]

DA-DA-DAAAAAA!!!!

[Roy]

Friday night smackdown!

[freefall]

Up 40% in a year. Spot was at £987 a year ago today. 

Edited May 8, 2020 by freefall