Gold Monitoring Thread £ GBP only

[ChrisSilver]

Price seems to be on the upwards. Was hoping to buy a gold coin, but will probably wait until next month to see if the price falls back down to lows.

[Guest]

The think potentially even more important is $ to £ exchange rates... I would like to see normalized exchange rates at 1.51 to 1.7

[KDave]

I am waiting also. January does seem to be a good month for gold when looking at the past. Perhaps we will see a repeat of 2015 with a little bull Q1 before reverting to trend for the remainder of the year. I hope this is the case - I still have many coins on the shopping list!

[Cornishfarmer]

Spot must have gone up a lot, at coin invest both the 1g and 3g have gone up £12 each over night

[BaldyBob]

Broke $1100 in the early hours, then knocked down again four more times whenever approaching $1100.

[Pipers]

I think Gold may go up in the short term to near $1150 then fall then fall back in the summer, I have no reasoning for this its just a view I am now holding with world tensions.   

[Guest]

Can one of you bright sparks clear up some confusion.

I just looked at the spot price of gold and in $ HGM reported $1140 and APMEX and Kitco $1068.

Why the difference?

Does this mean the GBP rate charged by HGM that the Spot+ rate is based on is too high?

 

[Pete]

WOW !!!!

There must be a problem with HGM's link to spot or London Fix prices or human error if prices entered manually.

Check the HGM quoted silver price per ounce at $19.71 vs $13.85

In GBP(£) HGM show their silver price at £9.05 per ounce when it should be £9.57

[MCJ]

HGM only update their spot price twice a day at 10.45 and 15.30

[Pipers]

Exchange rates HGM haven't updated their exchange rates for a while.  

$1.45 -£1 

[Pipers]

Just to let people think Kitco are bear on Palladium  

[Guest]

Does this mean that 4% over spot could be 3% to 5% over spot?

[MCJ]

Yes it could if the live price was fluctuating greatly.

[garthy]

There are now 542 paper gold contracts to 1 physical Oz of gold on the comex.

I would put a link up but my phone will not comply this morning.

[sovereignsteve]

Interesting paper. The LBMA website headlines "There is no evidence of systemic price suppression in Gold and Silver".

However, the conclusion of the paper puts it slightly differently;

"Do these findings clearly support the notion of price suppression? No, they are at best suggestive"

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2721250

[Vern]

2 hours ago, garthy said:

There are now 542 paper gold contracts to 1 physical Oz of gold on the comex.

I would put a link up but my phone will not comply this morning.

Which reminds me of a comment a user wrote about this on another site:

  Physical gold is now so diluted by paper gold at 542 to 1 it is homeopathic

[Oldun]

Forget the Comex. It is a side show. Pop and drop and with everything always, The trick is to catch the drop rightish and remember that timing is far far more important. Good luck.

Edited January 27, 2016 by Oldun

[HawkHybrid]

http://news.gold-eagle.com/article/1973-gold-price-year-end-if-january-gain-holds-annual-average/26

 

Just read the title 

 

HH

[Pipers]

Gold has just broke the $1,150

lets see if it can hold 

[sovereignsteve]

2 hours ago, Pipers said:

Gold has just broke the $1,150

lets see if it can hold

It closed yesterday well above $1130 which is where the 200 day moving average is at the moment. This is regarded as a significant resistance level from a technical perspective. It has breached the 200 MA a few of times over the last couple of years but has failed to hold the gains.

[sovereignsteve]

Breaking through £800 as we speak!

[KDave]

I hope this is temporary I have too much left on the shopping list!

[sovereignsteve]

6 minutes ago, KDave said:

I hope this is temporary I have too much left on the shopping list!

Well it was last April.

[sovereignsteve]

I suspect it wll go higher in the short term, the gbp is weaker than last year.

[KDave]

There we go busted through £800 an ounce.