Gold Monitoring Thread £ GBP only

[BobnotTed]

Just say it's "fake news". 

[Nick1368]

3 hours ago, dicker said:

1572. I am keeping very very quiet about this as my wife has her eye on some new garden furniture.  

Do you still remember your prediction of £1500 by Christmas? 🤣

I mean it was a sensible prediction when you made it about two weeks ago , but seriously who would’ve thought gold would be nearly £1600 an ounce in August 2020 .

[MancunianStacker]

10 minutes ago, Nick1368 said:

Do you still remember your prediction of £1500 by Christmas? 🤣

I mean it was a sensible prediction when you made it about two weeks ago , but seriously who would’ve thought gold would be nearly £1600 an ounce in August 2020 .

Mine was £1,800 Christmas- New Year 2020. There’s still time 😂 

[DarkChameleon]

1 minute ago, MancunianStacker said:

Mine was £1,800 Christmas- New Year 2020. There’s still time 😂 

Or next week, whichever comes sooner...lol.

[dicker]

29 minutes ago, Nick1368 said:

Do you still remember your prediction of £1500 by Christmas? 🤣

I mean it was a sensible prediction when you made it about two weeks ago , but seriously who would’ve thought gold would be nearly £1600 an ounce in August 2020 .

Hi Nick. I always own up to my mistakes, and making this prediction was a big one!
 

Very happy to be wrong!
 

cheers

Dicker

[dicker]

And that’s why I love the forum.  Friendly people a good bit of good humoured mickey taking and a shared interest.  
 

All the best to you Nick and all others on the forum

Best

Dicker

[Nick1368]

42 minutes ago, dicker said:

And that’s why I love the forum.  Friendly people a good bit of good humoured mickey taking and a shared interest.  
 

All the best to you Nick and all others on the forum

Best

Dicker

Dicker please don’t be offended as I didn’t mean no offence , obviously no one knows what the  future has to offer especially when it comes to the market, economy and precious Metals, we all have made so many  wrong predictions in the past .

it’s just insane to me how fast the price of gold is moving upwards, I’m a young investor, I’m 30 and have been investing in precious metals for over two years now, it blows my mind to see Upward movements like this in gold and I’m so happy that I have a good stack of gold now that the spot price is looking sexy .

just like you I love this forum too, it’s an amazing community, I’m a busy man with my business and don’t have social media accounts because I don’t have the time for it and I also believe it’s not good for my mental health but I love this forum, it’s a place of knowledge to me, I come here to educate myself as I have not been to university.

[DarkChameleon]

Im suprisedi havent heard on here about anyone jumping ship on their stashes, physical or paper...normally with a run like this some stackers or investors jump..then feel sad or the price drops like a stone and everyone else feels bad...but it seems not a twitter...all biting nails and toe bails off trying to predict but not a twitch.

[dicker]

Hi Nick,

Absolutely none taken at all!  Its great to have people like you on here who are friendly and great fun.  
 

Keep up the banter and take care

Best 

Dicker

[Foster88]

52 minutes ago, Nick1368 said:

I come here to educate myself as I have not been to university.

I have been to university and they certainly don’t teach you about gold, silver or any other precious metals. 😂 

They just take all your money each year.

[Foster88]

45 minutes ago, DarkChameleon said:

Im suprisedi havent heard on here about anyone jumping ship on their stashes, physical or paper...normally with a run like this some stackers or investors jump..then feel sad or the price drops like a stone and everyone else feels bad...but it seems not a twitter...all biting nails and toe bails off trying to predict but not a twitch.

I think everyone or almost everyone is thinking the same, how high can it go?

Recently the price of gold seems to go up, correct itself a little and then a day or two later it’s reaching a new high. It should be interesting to see over the next few months.

Either that all we’ll all be crying into our pillows by Christmas 😆 and wishing we’d sold it all but I doubt that.

[Prophecy]

Im still with Dicker on 1500 by Christmas. Remember, when gold moves it MOVES but then it settles lower... so hopefully around 1500 will be the consistent base.

[MancunianStacker]

9 minutes ago, Foster88 said:

I have been to university and they certainly don’t teach you about gold, silver or any other precious metals. 😂 

They just take all your money each year.

I went to university, studied a degree in Business, they didn't mention real money once. I then studied my Financial Planning Certificates and then my Diploma in FP and none of them mentioned real money or even gold except for a quick sentence about it being part of a large portfolio sometimes. I should have came straight out of school in 1996 and got a job in a bank!!

Learnt a lot about everything else including financing though, I suppose.

A degree means nothing unless it is Accountancy, Dentistry, Doctor, Lawyer and gets you a good guaranteed salary at the end of it and maybe into your own business after 5 years or so.

I feel sorry for the kids these days doing degrees in David Beckham or the Kardashians etc 🙄 

@Nick1368 well done on your own business. I started mine age 41, last year. Should’ve done it 20 years ago. Less reliant on a boss, especially with Covid-19 👍🏻 

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Added 0 minutes later...

2 minutes ago, Prophecy said:

Im still with Dicker on 1500 by Christmas. Remember, when gold moves it MOVES but then it settles lower... so hopefully around 1500 will be the consistent base.

I could live with that 👌 

[DarkChameleon]

7 minutes ago, Prophecy said:

Im still with Dicker on 1500 by Christmas. Remember, when gold moves it MOVES but then it settles lower... so hopefully around 1500 will be the consistent base.

Its going to rise yet more now...silver cracked 29 dollars so gold has to come up or the ratio will drop further...tomorrow by noon it should make a move up to compensate.

Edited August 6, 2020 by DarkChameleon

[Nick1368]

32 minutes ago, Foster88 said:

I think everyone or almost everyone is thinking the same, how high can it go?

Recently the price of gold seems to go up, correct itself a little and then a day or two later it’s reaching a new high. It should be interesting to see over the next few months.

Either that all we’ll all be crying into our pillows by Christmas 😆 and wishing we’d sold it all but I doubt that.

I think it will be  going up for as long as the money printing continues.

just look at the situation in the Uk, self employed people are getting cash grant ( free money ) , business owners are getting cash grant and no business rate to pay  ( free money ) , employed people are getting furlough salary ( free money and i know a few people who are furloughed and doing a some cash in hand jobs as well so they get two salaries but barely pay tax for one of them only), %50 discount to eat out introduced just recently.

what does all of this mean ? To me It means people have money to spend so demand for goods and services is going to increases and prices will accordingly increase too , which means the money in our pockets and bank accounts is losing its value and that results in massive increase in gold price because unlike money gold can’t be printed .

that’s the way I look at it, simple as that .

 

Edited August 6, 2020 by Nick1368

[DarkChameleon]

1 minute ago, Nick1368 said:

I think it will be  going up for as long as the money printing continues.

just look at the situation in the Uk, self employed people are getting cash grant ( free money ) , business owners are getting cash grant and no business rate to pay  ( free money ) , employed people are getting furlough salary ( free money and i know a few people who are furloughed and doing a some cash in hand jobs as well so they get two salaries buy barely pay tax for one of them only), %50 discount to eat out introduced just recently.

what does all of this mean ? To me It means people have money to spend so demand for goods and services is going to increases and prices will accordingly increase too , which means the money in our pockets and bank accounts is losing its value and that results in massive increase in gold price because unlike money gold can’t be printed .

that’s the way I look at it, simple as that .

 

Its also the paying down of debt is at record levels, people are actually looking at inveating, thinking yuppy years could be here when we're finally let out..theyhit sma,l spend with money coming in, the government wants us to spend but were hunkered down incase we lose it all....were saving change whioe they want us to spend hundreds...bad prediction on their part.

[Empire]

2 minutes ago, Nick1368 said:

I think it will be  going up for as long as the money printing continues.

just look at the situation in the Uk, self employed people are getting cash grant ( free money ) , business owners are getting cash grant and no business rate to pay  ( free money ) , employed people are getting furlough salary ( free money and i know a few people who are furloughed and doing a some cash in hand jobs as well so they get two salaries buy barely pay tax for one of them only), %50 discount to eat out introduced just recently.

what does all of this mean ? To me It means people have money to spend so demand for goods and services is going to increases and prices will accordingly increase too , which means the money in our pockets and bank accounts is losing its value and that results in massive increase in gold price because unlike money gold can’t be printed .

that’s the way I look at it, simple as that .

 

Along the right lines I think. We haven't really seen consumer inflation (yet) since most of the money printing (QE) has ended up being reflected in asset prices (stocks, etc). But like you say, the longer furlough, etc continues, then this may change and we'll start to see it consumer inflation as well. In terms of gold specifically, you have to look at it in the context of bonds which now yield nothing, or negative in some cases; therefore the fact that gold has no yield is not a detracting point. Then look at stocks, they are at record levels with insane P/E valuations, which makes investors nervous about investing at the top of the market. In this context, gold doesn't look like such a bad place to park your money. Gold ETF inflows have soared recently, and many of these will be physical backed rather than derivative based. I imagine a lot of people will now have a permanent gold allocation in their portfolio. Given all this, I expect gold will stay high. Though I do think there will be temporary pull-back.

[The1GramMan]

Im Loving the price of gold right now, my 3 gram stack is looking better by the day lol. Why didn't i start stacking/collecting earlier  lol

[DarkChameleon]

4 minutes ago, The1GramMan said:

Im Loving the price of gold right now, my 3 gram stack is looking better by the day lol. Why didn't i start stacking/collecting earlier  lol

Everyone on here has saidthesame thing or at least thought it...ifyou had 10,000 ounces youd still think it..believe me.

[The1GramMan]

Just now, DarkChameleon said:

Everyone on here has saidthesame thing or at least thought it...ifyou had 10,000 ounces youd still think it..believe me.

Exactly that buddy, hit the nail on the head but you have to start somewhere and im still 3 grams better of than i was a couple of weeks ago lol 

[richatthecroft]

Holy Mackerel!

 

[OriginalS]

1 minute ago, richatthecroft said:

Holy Mackerel!

 

 

You just woken up or something 😂

[richatthecroft]

1 minute ago, OriginalS said:

You just woken up or something 😂

Just finished work- can't keep up!

[DarkChameleon]

6 minutes ago, The1GramMan said:

Exactly that buddy, hit the nail on the head but you have to start somewhere and im still 3 grams better of than i was a couple of weeks ago lol 

3 grams beats no grams...and yes. Its a nice night out on the profit from just a few weeks....when the value was faling kn metals there were people every dy moaning about th3 losses and why didnt they sell...i have been buying junk gold for a fewyears now, cheap in and only need abouta 5% swing to mame money if youhVe a good out on it, i have a 98% so its easy to trade away to buy yet more...cheap gold isnt badgold, its just fun money, treat it likeeverypenny youput in stays in you sell to buy more later, itsthe small profit perdeal out performs the long hold...gold is up 10% overits high in 11...imagine making 5% profit peryear for those 9 years...all grams here and grams there...and for the most part not adding moneyto it.

[DarkChameleon]

4 minutes ago, richatthecroft said:

Holy Mackerel!

 

When i saw your silver at 1.5% riseim like..wth?, we up over 7%...howbad had the doller got..lol.