Gold Monitoring Thread £ GBP only

[jultorsk]

Here we go again... 😳

 

[HerefordBullyun]

42 minutes ago, jultorsk said:

Here we go again... 😳

 

It's not just that. It's being manipulated absolute fact. Oil cooper up all commodities are up less PMs. There is massive shorting going on in the paper markets. These criminals are a disgrace and don't expect anything to get better when the US market opens. The cartel are in cahoots.

[goldmember44]

1 hour ago, jultorsk said:

Here we go again... 😳

 

This Covid vaccine news is already priced in, this is a ridiculous futures market kneejerk reaction I think. Possibly it will reverse after US markets open. It has to at some point anyway. 

[HerefordBullyun]

32 minutes ago, goldmember44 said:

This Covid vaccine news is already priced in, this is a ridiculous futures market kneejerk reaction I think. Possibly it will reverse after US markets open. It has to at some point anyway. 

For those who have the money buy either mining stocks or physical.

It's a opportunity.

[Derv]

58 minutes ago, HerefordBullyun said:

For those who have the money buy either mining stocks or physical.

It's a opportunity.

Do you recommend any other than  Kefi , Ggp , Mag , Maj ?

I just got £10 of Sylvania platinum on your tip , thanks

[Goldmansacks]

It absolutely stinks of price manipulation.

[Kman]

Compared to the first vaccine news it barely moved and has gone right back anyway

Robust 

[HerefordBullyun]

1 hour ago, Derv said:

Do you recommend any other than  Kefi , Ggp , Mag , Maj ?

I just got £10 of Sylvania platinum on your tip , thanks

These. @Dervsome may disagree but all are dirt cheap

 

Edited November 16, 2020 by HerefordBullyun

[Derv]

Cheers @HerefordBullyun I'll have a look 🙂

[Martlet]

6 hours ago, HerefordBullyun said:

It's not just that. It's being manipulated absolute fact. Oil cooper up all commodities are up less PMs. There is massive shorting going on in the paper markets. These criminals are a disgrace and don't expect anything to get better when the US market opens. The cartel are in cahoots.

Gold is a hedge against risk.  Vaccine news means economic risks are likely to reduce.  There's likely reduced stimulus next year as economy recovery takes effect.  Also that recovery will increase demand for commodities that are consumed, so prices rise.   

[HerefordBullyun]

Covid has already been factored in. This is the cartel taking advantage on the crimex.

[Kman]

I agree with @Martlet 

Gold is for fear, copper and oil are for hopes of an economic recovery - makes total sense the original vaccine news had some people sell gold positions to move into more optimistic trades

More interestingly bond yields didn't seem interested and that's the opinion that matters, they aren't buying a recovery

[HerefordBullyun]

12 minutes ago, Kman said:

I agree with @Martlet 

Gold is for fear, copper and oil are for hopes of an economic recovery - makes total sense the original vaccine news had some people sell gold positions to move into more optimistic trades

More interestingly bond yields didn't seem interested and that's the opinion that matters, they aren't buying a recovery

I think your niave to think the slides in the market prices today are just sell offs. The cartel are in on it. I find it too odd just to see PM's take a kicking.

[Kman]

27 minutes ago, HerefordBullyun said:

I think your niave to think the slides in the market prices today are just sell offs. The cartel are in on it. I find it too odd just to see PM's take a kicking.

What's the cartel theory? they can't be very good if they can only get it 1% down for couple hours 🤭

[Stacktastic]

10 hours ago, HerefordBullyun said:

 This is the cartel taking advantage on the crimex.

And look who miraculously appears on Kitco yesterday HSBC. Cant say I understand much of how price is manipulated, but I smell BS or at the very least a well worded speech as he would clearly have the banks interests at heart.. But you can take a lot from this as there is a lot of useful info. 

10.59 "don't look at any one event" Looks down to the right (classic micro expression). 

One comment below the video makes a lot of sense: "Not sure why so many of us are upset. Because of their manipulation we were able to buy gold (hsbc) and silver (jp morgan) below its true value". This guy has a point here, assuming that prices will explode from time to time (allowing us to sell for profit), probably when they need to mind you. It still tracks inflation so acts as a nice bank account. 

 

Edited November 17, 2020 by Stacktastic

[HerefordBullyun]

17 minutes ago, Stacktastic said:

And look who miraculously appears on Kitco yesterday HSBC analyst talking about jewellery sales affecting prices in middle east, China & emerging countries. Cant say I know a lot about how prices are manipulated, but I smell BS. I would like to see a serious JP Morgan type case against a lot of these banks, Now that would send prices to the moon! 
 

 

A member of the cartel on kitco. Hahaha you couldn't make this up.

[Martlet]

24 minutes ago, Stacktastic said:

And look who miraculously appears on Kitco yesterday HSBC analyst talking about jewellery sales affecting prices in middle east, China & emerging countries. Cant say I know a lot about how prices are manipulated, but I smell BS. I would like to see a serious JP Morgan type case against a lot of these banks, Now that would send prices to the moon! 
 

Interviewee states jewellery is down 50%, and thats half of physical demand, so about 25% drop. Verifiable data must be available for that, so check rather than write off because it doesn't match up to expectation.  If you dont know how prices are manipulated, how can you know they are?

Edited November 17, 2020 by Martlet

[Stacktastic]

17 minutes ago, Martlet said:

Interviewee states jewellery is down 50%. If you dont know how prices are manipulated, how can you know they are?

Yes thats a good point. As I say I am not very qualified to comment on any of it, thought the video was interesting, but as you say not a ton of evidence, but here is what I thnk anyway: 

My understanding is that most of the gold market is in ETF's, but thought it would be worth sharing the video.
I know that JP Morgan got shafted for spoofing recently, so there is one pice of evidence of price fixing. 

I cant see why or how Jewellery as an investment would be down this year, but you may be right as people don't have the cash to be buying it or getting engaged or married, or as a gift (esp. in lockdown countries). I thought a lot of asians traded in jewlerry rather than bullion? With a weak worldwide Fiat system would that not increase, especially if they rely on the dollar?

I know countries like China are buying a lot of physical to back themselves up, so i assume that would increase prices as it gets taken off the market??

Edited November 17, 2020 by Stacktastic

[Stacktastic]

35 minutes ago, HerefordBullyun said:

A member of the cartel on kitco. Hahaha you couldn't make this up.

If there is price fixing, maybe this is a sign its gonna get worse in the next month. £14 silver is not out of the question is it really? Now could become a good buying opportunity to £10 shares!! Shame I have no money left. 

If USA locks down again it might rally again by following gold, unlike last time. But what seems to get very much ignored is how much more advanced China is now with regards to demand in PM. 

Reminds me of the old boys of yester-year year saying "proud to be British, what what". While the UK is broke & moist terrestrial industry is failing. Stuck in a bygone era of cultural conditioning. 

Edited November 17, 2020 by Stacktastic

[Martlet]

30 minutes ago, Stacktastic said:

I cant see why or how Jewellery as an investment would be down this year, but you may be right as people don't have the cash to be buying it or getting engaged or married, or as a gift (esp. in lockdown countries). I thought a lot of asians traded in jewlerry rather than bullion? With a weak worldwide Fiat system would that not increase, especially if they rely on the dollar?

Few factors, first in the face of downturn people sold gold earlier in the year, not in position to buy.  Thats why they hold it in the first place, to sell in bad times. Second, if you earn less you can afford to buy less, and if prices rise the volume sales drops for the same value, which impacts demand. Third cultural effects, noted in video 10g bar is popular, it may not be a case of buying smaller, you simply have to save longer to afford the conventional size (this would be applicable for gifting). 

JP Morgan spoofing is evidence of short term price front running, where the target is scalping small moves in either direction. It's not evidence for wholesale, long period price manipulation. 

Edited November 17, 2020 by Martlet

[SPGfuntime]

2 hours ago, Stacktastic said:

And look who miraculously appears on Kitco yesterday HSBC. Cant say I understand much of how price is manipulated, but I smell BS or at the very least a well worded speech as he would clearly have the banks interests at heart.. But you can take a lot from this as there is a lot of useful info. 

10.59 "don't look at any one event" Looks down to the right (classic micro expression). 

One comment below the video makes a lot of sense: "Not sure why so many of us are upset. Because of their manipulation we were able to buy gold (hsbc) and silver (jp morgan) below its true value". This guy has a point here, assuming that prices will explode from time to time (allowing us to sell for profit), probably when they need to mind you. It still tracks inflation so acts as a nice bank account. 

 

This man is full of sh*! Give Indians and Chines more offer of this 10g, 50g, 100g gold bars and you will see what will happen! They reduce offer there and accuse EU and Us that we buy a lot! And to us, they accuse Asians that they taking 50% of world gold! What a bullshit...And he forgot even if that s true, there is second PM, silver, so his story do not hold water at all! So obviously they short radically offer for retail in Asia, in Europe you wait a lot, just wondering how US handling. They probably want first to take more paper money from exploding stock market for buying much more PM and other stuff on low prices, but wondering how their physical offer is there, probably shrinking also, hm..

Edited November 17, 2020 by SPGfuntime

[Auricsstash]

My advice get clear of precious metals now sell all your holdings as quickly as possible. By December you will be 20/30% down due to brexit being so soft it’s exactly like staying in the E.U...  

PMs 7 year circular top was in August..

the fed will print money to make risk assets go up that’s the whole game now and the big money knows this...

[Sparrow]

2 hours ago, Auricsstash said:

My advice get clear of precious metals now sell all your holdings as quickly as possible. By December you will be 20/30% down due to brexit being so soft it’s exactly like staying in the E.U...  

PMs 7 year circular top was in August..

the fed will print money to make risk assets go up that’s the whole game now and the big money knows this...

That seems rather questionable advice when viewed through the lens of British politics. There is no way that the Prime Minister's deal will be anything like remaining in the single market and customs union.

Despite the current UK government's suspicious reluctance to publish their own updated impact assessments of this allegedly amazing Brexit deal, the assessments from 2018 of a deal similar to what has been agreed point to falling wages and declining growth.  I believe it is something like a 6-7 percent hit compared to staying in the EU. Wages will probably take a similar hit, and public sector borrowing is likely to increase. 

So unless the government are planning on performing a spectacular U-turn unlike any seen before in the chaotic mess that is British politics, soft Brexit is never going to happen. 

Edited November 18, 2020 by Sparrow
Re-wording

[Auricsstash]

Boris has 3 options on Brexit now Trumps gone.

Hard Brexit which the Tory party won’t allow him to complete.

Signing whatever the Germans put in front of him. Which means all the shorts on the £ unwind 

A third referendum with 3 choices on the ballot. Which means all the shorts on the £ unwind.

I’m at no 2 or 3...

[Sparrow]

I'm predicting a thin deal with the UK probably gradually establishing a closer relationship with the EU over time.  (Can't beat geography.) So I guess that would fall under your option 2.

I don't see another referendum getting through parliament, and there would be little point as the UK has already left the EU.  And as for hard Brexit, I am assuming that you are referring to no deal because what the UK is facing is already a pretty hard version?  If so, yeah, the only way that would ever happen is by accident. (Which is a little worrying when you consider the UK government's track record for incompetence) 😬

Edited November 18, 2020 by Sparrow
Spelling/grammar