Gold Monitoring Thread £ GBP only

[Oldun]

It's coming....680 gbp on my crystal ball for sure.....well as sure as anyone can be....

Edited November 27, 2015 by Oldun

[KDave]

It got below £700 very briefly today, but I was not quick enough to get my order in at Baird's. I ended up paying £735 when spot rose back to £700 for a gold RM 1 Oz year of the Monkey. £743 in total after postage so only saved a couple of quid with the attempt to time my black Friday purchase.  

I agree that there are more falls in spot price to come. Much of it depends yet again on the FED's cry of wolf, which will resolve in December. Even without a rate rise, which is very unlikely IMHO, the general consensus is that gold spot price will continue to fall into 2016. I am hopeful we will see a bottom in 2016, based on the mystical 8 year cycle and my crystal ball, but who knows!

[Lindeman]

KDave - I think you have answered my question before I had even asked it : does anyone know a cheaper place than Bairds\ Goldline to buy the 1 ounce  bullion RM Lunar year of the Monkey? For UK delivery. 

I bought the RM horse and sheep from them - but before I also try to time the price on Monday - just wondered if anyone else has  any other provider with an easier buying process  ? Usually don't see them on Atkinsons or GBC.  

So roll on £700 / ounce please. 

 

[KDave]

Lindeman I tend to stick to a small selection of dealers so it may be cheaper elsewhere. Atkinsons have them for just a couple of quid more than Baird's for a single coin and their buying process is a bit easier in that you just pay once by bank transfer. Baird's have a deposit system that requires a card to be used to secure the coin (and presumably to secure the spot metal price) and then the transaction is finished by sending the remaining balance via bank transfer. I have not seen this coin cheaper than on Baird's for a single coin yet though.

[Pipers]

@KDave Bairds have a deposit system I believe because certain persons were putting orders in on Fridays and cancelling on Mondays the only reason I can think of is for free insurance over the weekend. HGM and Atkinson's only deal with smaller clients even though to us it still may seem a lot of money. 

[Panicbuying]

Keep on stacking before...

[Paul]

The Bottom is in - the moon here we come  

Edited December 4, 2015 by Paul

[morezone]

Did something just happen to cause the sudden rise?  Thought Atkinson's live gold price was wrong for a moment so had to check elsewhere.

[sovereignsteve]

There has been a lot of talk of $1050 being a major resistance and possibly the bottom. I was thinking that way myself but we shall see, there have been a number rallies already.

[Paul]

2 hours ago, morezone said:

Did something just happen to cause the sudden rise?  Thought Atkinson's live gold price was wrong for a moment so had to check elsewhere.

Shamelessly lifted from a bullionbypost email I have just received :

 

"Gold surges 2% on 'as expected' U.S. jobs data
 
View the latest gold price       View the latest silver price

Gold has jumped over 2% and silver over 3% this afternoon. The sudden price movement followed the announcement that the U.S. added 211,000 jobs in November in line with forecasts. This volatile behaviour only emphasises how price movements have become dominated by quant traders and algorithms over-reacting to bits of data narrowly focused on the U.S. and by how much it may move interest rates. 

Increased Middle East tensions drive physical demand 
This contrasts starkly with last week's shocking news of Turkey shooting down a Russian fighter and heightened tensions in the Middle East having almost no impact on global precious metal prices. 

Physical demand remains very strong with the U.S. Mint announcing gold sales up 185% on October and all time record sales for silver eagles. 

ECB move to boost eurozone economy 
Whilst the US Fed believes the 2008 crisis may finally be over, the European Central Bank (ECB) has moved to further support the economic recovery of the eurozone by cutting a key deposit rate and extending its QE programme. The decision to cut the overnight deposit rate will push banks to start lending rather than hoarding money in a move to bolster recovery. The ECB has also extended its €60 billion stimulus package by six months until March 2017."

[Stu]

Gold was under £700 around 2.30 today. Anyone like to guess the low for the year? My guess would be £689

[morezone]

I wouldn't mind if it closed around £700 tonight.  Doubtful, but it would give me the opportunity to think about putting in an order over the weekend.

[HelpingHands]

The Fed rate decision is Weds so you should get some good buying points before then.

[HelpingHands]

 

[shemyaza]

Edited December 16, 2015 by shemyaza
Dy/Dx Ratio triggers

[Pipers]

Do you mean Gold is very expensive compared to to oil 28-1

Physical silver/Gold landed is 64-1 in the UK

I think the market is holding Gold as insurance otherwise we would of seen further down side by now, which is frustrating for us because that would be a better buying opportunity.    

[garthy]

Looking at the historic gold to oil ratio gold does look expensive, but then again I would think oil is more reliant on the overall economy when compared to gold.

It's tough to say where gold goes from here, demand's still looking strong but the general consensus still seems to be lower.

[HelpingHands]

I think we're going off a cliff after yesterday's rate move.  £120 per sov coming soon.

[sovereignsteve]

7 minutes ago, HelpingHands said:

I think we're going off a cliff after yesterday's rate move.  £120 per sov coming soon.

Dream on!

[HelpingHands]

I didn't say 'your sovs'!

 

[sovereignsteve]

It keeps bouncing off $1050, that's one serious support. If it ever breaks that in a meaningful way, it'll go a lot further.

[HawkHybrid]

we have to wait until the new year to see what

effects the rate rise has. gold should stay in a

'I can still move either way' mode until then.

high volatility but no sustained movement would

be my guess.

 

HH

[Pipers]

There is major support at $1000, so we will have to see if the bears are struggling to get the price below $1050 then I would question their ability to  break through $1000. Interesting stuff.

[shemyaza]

I believe Gold will begin the sell into Platinum first as the ratio is at an unusual high for the last 25yrs. If Gold comes down via Platinum expect the second wave to begin of Gold selling into Oil and Silver. Palladium holders are selling into Gold creating support as that ratio was strongest for Palladium but weakening now. Note, I have 53 weeks of pricings on another topic section covering everything. Feel free to check. I won't say blindly support is occurring I'll tell you where it's coming from as well! Goes for resistance at tops in a few years.

Edited December 21, 2015 by shemyaza
Getting Resistance and Support the wrong way around. It's late.

[goldbones]

On 12/21/2015 at 00:25, shemyaza said:

I believe Gold will begin the sell into Platinum first as the ratio is at an unusual high for the last 25yrs. If Gold comes down via Platinum expect the second wave to begin of Gold selling into Oil and Silver. Palladium holders are selling into Gold creating support as that ratio was strongest for Palladium but weakening now. Note, I have 53 weeks of pricings on another topic section covering everything. Feel free to check. I won't say blindly support is occurring I'll tell you where it's coming from as well! Goes for resistance at tops in a few years.

The platinum price could go up rather than gold go down, bare in mind platinum is very much dependent on China and car manufacture and in a failing economy them catalytic converters just are not going to get made it just isn't going to happen. Platinum miners could all go bust though or shut down operations so eventually they'll be a huge shortage when the demand comes back.