Gold Monitoring Thread £ GBP only

[OriginalS]

2 minutes ago, richatthecroft said:

Just finished work- can't keep up!

Tbf there has just been a large spike 

[The1GramMan]

1 minute ago, DarkChameleon said:

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.

Thank you for the advice, that is the plan build it up slowly i worked out if i got 4 grams of gold a month over a 20 year period it would be roughly worth about £70-£80,000 and that with prices now roughly, not a bad little gift for my son.

[Oldun]

10 hours ago, Nick1368 said:

Yeah the %50 discount is crazy , my girlfriend and I had a main course and a pint each at the airport and the bill was £21 only 🤣

 

Bread and circuses has officially arrived. Or is it “Let them eat cake ?”

And the interesting thing is that the usd is not in a bad shape at all, just a lower. I posted on another thread yesterday that gold could run to $2100 possibly $2120 on this move so whatvever that is in £. From there, professional traders might take some off the table and book paper profits. We shall see.

Edited August 6, 2020 by Oldun

[richatthecroft]

17 minutes ago, The1GramMan said:

Thank you for the advice, that is the plan build it up slowly i worked out if i got 4 grams of gold a month over a 20 year period it would be roughly worth about £70-£80,000 and that with prices now roughly, not a bad little gift for my son.

Best laid plans.  

I set my sights and budget on sensible regular monthly purchases and not forgo life's little luxuries.

I think I might get another few months out of these- what do you think?

Edited August 6, 2020 by richatthecroft

[The1GramMan]

Just now, richatthecroft said:

Best laid plans.  

I set my sights and budget on sensible regular monthly purchases and not forgo lifespan's luxuries.

I think I might get another few months out of these- what do you think?

 

Yeah at least another year, im just sorting mine out now lol

 

 

[Foster88]

54 minutes ago, The1GramMan said:

Thank you for the advice, that is the plan build it up slowly i worked out if i got 4 grams of gold a month over a 20 year period it would be roughly worth about £70-£80,000 and that with prices now roughly, not a bad little gift for my son.

Don’t forget that the more gold you can buy in one go you’ll pay on average less for the gold content. 

For example you’ll pay less in terms of gold for a full sovereign than you will for a half sovereign or even 1 gram.

Just a tip but maybe some months save and buy as much as you can afford. But with the gold price the way it is maybe that’s not good advice anymore in these times. 🤷🏻‍♂️

Back on track I think @dicker prediction might be right of £1,500 by Christmas if it rises and keeps correcting itself to a new ‘norm’. Time will tell, indeed. 

[The1GramMan]

1 minute ago, Foster88 said:

Don’t forget that the more gold you can buy in one go you’ll pay on average less for the gold content. 

For example you’ll pay less in terms of gold for a full sovereign than you will for a half sovereign or even 1 gram.

Just a tip but maybe some months save and buy as much as you can afford. But with the gold price the way it is maybe that’s not good advice anymore in these times. 🤷🏻‍♂️

Back on track I think @dicker prediction might be right of £1,500 by Christmas if it rises and keeps correcting itself to a new ‘norm’. Time will tell, indeed. 

I am going to change my focus from bars to coins and look to buy sovs and brits, you are 100% correct it is so much better to buy in quantities as you pay less per gram, the biggest problem with saving is the addiction and joy of waiting for a new coin or PM to arrive at your door.

i think £1500 is reasonable for Christmas i dont see it dropping below that.

If it does drop then perfect time to buy more so its not all bad if it falls below £1500, assuming it dont go to low that is. 

[CadmiumGreen]

1 hour ago, richatthecroft said:

Best laid plans.  

I set my sights and budget on sensible regular monthly purchases and not forgo life's little luxuries.

I think I might get another few months out of these- what do you think?

You could get another year out those with a little duct tape...the twine laces should hold up a good six months...

I am in the similar position...gourmet meals ordered from Amazon for the next few months...

[Nick1368]

5 hours ago, DarkChameleon said:

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

Spot on 

[HerefordBullyun]

https://www.telegraph.co.uk/investing/gold/already-gold-great-shouldnt-buy/

I don't why this idiot is saying don't buy any more gold because of it valueless investment. He fails to understand that we know that it's hedge against a ponzi scheme.

[MancunianStacker]

6 hours ago, The1GramMan said:

I am going to change my focus from bars to coins and look to buy sovs and brits, you are 100% correct it is so much better to buy in quantities as you pay less per gram, the biggest problem with saving is the addiction and joy of waiting for a new coin or PM to arrive at your door.

i think £1500 is reasonable for Christmas i dont see it dropping below that.

If it does drop then perfect time to buy more so its not all bad if it falls below £1500, assuming it dont go to low that is. 

You could always sell the 1 grams for their higher premiums and then buy the bigger coins? Basically saving in gold rather than cash. As long as you get your original investment back you should be sitting pretty. Someone on here may want a few 1 gram bars, so you could offer x grams in exchange for a full sovereign (in your favour due to the higher premiums on 1 gram bars). 

[Goldmansacks]

5 hours ago, HerefordBullyun said:

https://www.telegraph.co.uk/investing/gold/already-gold-great-shouldnt-buy/

I don't why this idiot is saying don't buy any more gold because of it valueless investment. He fails to understand that we know that it's hedge against a ponzi scheme.

You get the feeling that the  professional naysayers are the very ones buying up the gold they are telling everyone else to avoid.

[Empire]

5 hours ago, HerefordBullyun said:

https://www.telegraph.co.uk/investing/gold/already-gold-great-shouldnt-buy/

I don't why this idiot is saying don't buy any more gold because of it valueless investment. He fails to understand that we know that it's hedge against a ponzi scheme.

Does he know that 10Yr gilts only yield 0.11% ?

[HerefordBullyun]

17 minutes ago, Empire said:

Does he know that 10Yr gilts only yield 0.11% ?

Probably it is article of absolute drivel imho

[vand]

6 hours ago, HerefordBullyun said:

https://www.telegraph.co.uk/investing/gold/already-gold-great-shouldnt-buy/

I don't why this idiot is saying don't buy any more gold because of it valueless investment. He fails to understand that we know that it's hedge against a ponzi scheme.

Well he's probably right in that we are seeing short term FOMO and those are the sort of johnny come lately buyers that don't understand what they're buying and so will dump it when it corrects 20%.

But it's a good sign that we are nowhere near the greed phase. When mainstream financial writers say that everyone should put 20% into gold then that is when we need to start thinking about doing the opposite.

[The1GramMan]

4 hours ago, MancunianStacker said:

You could always sell the 1 grams for their higher premiums and then buy the bigger coins? Basically saving in gold rather than cash. As long as you get your original investment back you should be sitting pretty. Someone on here may want a few 1 gram bars, so you could offer x grams in exchange for a full sovereign (in your favour due to the higher premiums on 1 gram bars). 

Thanks for the advice i will definitely consider that, gold will always be a great investment. I started off wanting the bars because i liked the way they look now i am being drawn to the coins because the designs on them are so satisfying to look at and admire.  

[Empire]

Just now, The1GramMan said:

Thanks for the advice i will definitely consider that, gold will always be a great investment. I started off wanting the bars because i liked the way they look now i am being drawn to the coins because the designs on them are so satisfying to look at and admire.  

Remember that UK coins are CGT free as well.

[The1GramMan]

3 minutes ago, Empire said:

Remember that UK coins are CGT free as well.

I didn't even think of that, the knowledge on here is invaluable.

Thank you  

[HerefordBullyun]

3 minutes ago, The1GramMan said:

I didn't even think of that, the knowledge on here is invaluable.

Thank you  

Yup that's why I buy brits but silver ones....

[The1GramMan]

1 minute ago, HerefordBullyun said:

Yup that's why I buy brits but silver ones....

I love the look of the Silver Brits, so clean cut 

[vand]

I actually have some respect for Hulbert, who weighs in with his piece:
https://www.marketwatch.com/story/gold-is-a-foolish-place-to-put-your-money-right-now-if-you-check-the-facts-2020-08-07?siteid=bigcharts&dist=bigcharts

 

The underpinning of his argument is wrong though. He assumes that there is no reason for gold's real purchasing power to increase over time. But that is a naive assumption. Gold is good money, and good money benefits from increased economic prosperity in seeing its real purchasing power appreciate by 1-2% a year. 

You don't need to own the stock of companies to benefit from the good things that companies do for us.   You just need to own good money which appreciates in real value as the beneficiary of ongoing productivity increases.


 

[DarkChameleon]

2 hours ago, Goldmansacks said:

You get the feeling that the  professional naysayers are the very ones buying up the gold they are telling everyone else to avoid.

Law of investment, when the sellers say buy then sell, when they say sell then buy.

[KRO]

to counter Hulbert's argument

A must read imo,


There appears to be no way out for the bullion banks deteriorating $53bn short gold futures positions ($38bn net) on Comex. An earlier attempt between January and March to regain control over paper gold markets has backfired on the bullion banks.

 

 Unallocated gold account holders with LBMA member banks will shortly discover that that market is trading on vapour. According to the Bank for International Settlements, at the end of last year LBMA gold positions, the vast majority being unallocated, totalled $512bn — the London Mythical Bullion Market is a more appropriate description for the surprise to come.

 

An awful lot of gold bulls are going to be disappointed when their unallocated bullion bank holdings turn to dust in the coming months — perhaps it’s a matter of a few weeks, perhaps only days — and synthetic ETFs will also blow up. The systemic demolition of paper gold and silver markets is a predictable catastrophe in the course of the collapse of fiat money’s purchasing power, for which the evidence is mounting. It is set to drive gold and silver much higher, or more correctly put, fiat currencies much lower.

 

This is only the initial catalysing phase in the rapidly approaching death of fiat currencies.



 

https://www.goldmoney.com/research/goldmoney-insights/gold-at-2k-so-why-the-fuss

 

[Ainsgb]

In my humble and rather amatuer opinion. I can see the value of physical metals totally detach from the spot price. After all holding physical metal is a totally different asset to holding credit in an etf. I dont see any comparable value between the two. 

In the next couple of decades i can see a society in which financial privacy becomes invaluable. Not only privacy, but control over the security of your own wealth. These attributes alone make the physical asset a much more highly valued commodity in my eyes. 

 

[Goldmansacks]

1 hour ago, KRO said:

to counter Hulbert's argument

A must read imo,


There appears to be no way out for the bullion banks deteriorating $53bn short gold futures positions ($38bn net) on Comex. An earlier attempt between January and March to regain control over paper gold markets has backfired on the bullion banks.

 

 Unallocated gold account holders with LBMA member banks will shortly discover that that market is trading on vapour. According to the Bank for International Settlements, at the end of last year LBMA gold positions, the vast majority being unallocated, totalled $512bn — the London Mythical Bullion Market is a more appropriate description for the surprise to come.

 

An awful lot of gold bulls are going to be disappointed when their unallocated bullion bank holdings turn to dust in the coming months — perhaps it’s a matter of a few weeks, perhaps only days — and synthetic ETFs will also blow up. The systemic demolition of paper gold and silver markets is a predictable catastrophe in the course of the collapse of fiat money’s purchasing power, for which the evidence is mounting. It is set to drive gold and silver much higher, or more correctly put, fiat currencies much lower.

 

This is only the initial catalysing phase in the rapidly approaching death of fiat currencies.



 

https://www.goldmoney.com/research/goldmoney-insights/gold-at-2k-so-why-the-fuss

 

So virtual gold is the problem and the only real gold is the gold you have either in your possession or you've put into a vault yourself?