Gold Monitoring Thread £ GBP only

[AurumArgenti]

13 minutes ago, Midasfrog said:

It took gold from 40,000 BC until the year 2020 to reach a peak value of £1579 , Bitcoin has only been around for 12 months but managed to increase by that amount in a week somethings not adding up 😲

I like gold because it looks and feels the same when you hold it even when its value drops .

It doesn't have to be one or the other. I like both gold and a variety of crypto currencies.

[Kman]

48 minutes ago, Midasfrog said:

It took gold from 40,000 BC until the year 2020 to reach a peak value of £1579 , Bitcoin has only been around for 12 months but managed to increase by that amount in a week somethings not adding up 😲

I like gold because it looks and feels the same when you hold it even when its value drops .

Millions of bitcoin, billions of oz of gold 

[Jimmy2trees]

1 hour ago, Midasfrog said:

It took gold from 40,000 BC until the year 2020 to reach a peak value of £1579 , Bitcoin has only been around for 12 months but managed to increase by that amount in a week somethings not adding up 😲

I like gold because it looks and feels the same when you hold it even when its value drops .

I like gold as well, for the same reason. Bitcoin has been around a lot longer than 12 months

But ignoring the aesthetics,  Bitcoin is superior as money- even as a store of value. 

Edited November 24, 2020 by Jimmy2trees
Spelin

[HerefordBullyun]

https://www.zerohedge.com/markets/jpmorgan-makes-1-billion-gold-trading-after-being-fined-1-billion-manipulating-gold-market

 

[272]

Well gold prices were looking a lot more stable than Bitcoin today after a 12.5% drop! Be interesting to see if it rallies tomorrow or people continue trying  to cash out. Supposedly investor's with 1,000+ bitcoins cashing out triggered the run so will see if Gold rises ever so slightly if Bitcoin drops further?

[Stacktastic]

On 24/11/2020 at 19:17, AurumArgenti said:

If you believe what the bitcoin crypto influencers are saying then yes.

Apparently bitcoin will be eating gold's lunch.

Gold with be mined in space. Peter Schiff will be changing his second name to Keisier.🤷‍♂️

I did a post on that, I actually think it will be sooner than later. It might be a by product of something far more valuable/rare even!! 
Dilithium to power warp engines LOL.

Getting to the asteroid belt will be dead easy in no time at all - mining it will need trial and error, but unlike Scotland or Canada, errors can be hidden. 
Lets face it a private individual can set up a flipping space tourism business, what does the deep state have in its bunker systems I wonder??

13 hours ago, 272 said:

i Well gold prices were looking a lot more stable than Bitcoin today after a 12.5% drop!

It's gonna crash and burn before too long, but it will go back up again, even big bitcoin owners know that.
Raol Pal is an interesting person, he has just set up a crypto business of some sort and bought loads of bitcoin.
One person online that I feel is not full of BS. Maybe Im wrong he lives on the cayman island to dodge tax LOL. 

I would say the gold price decrease is in some part due to people selling back their ETF money as the handouts have stopped. 
Bitcoin is now in the firing line and will go the same way until the next stimulus cheque. Rather simple way of looking at it mind you. 

If it does crash and I have the funds I am buying - Im hoping I can save up about £6k to buy one bitcoin as thats my buy in price.
Hold it for it probable peak and sell and repeat the process on the next run with the profits (assuming i make some). 
I think Bitcoin and Etherium to some extent is worth the gamble, I cant see many other asset classes to go for right now, especially as Property is due a colossal fall.

It beats the risk of buying Tesla or somehting in March and holding, no way Pedro, especially now. Metals, commodities and tangibles yes. 
Oil is, well not that monumental unless you invested big time a few months back, but that should go back up to decent prices again. 
Its the one asset class thats doing well at the moment. 

Mining - yes that will probbaly do quite well within 5 years, I have half my assets in that. A patient mans endeavour, especially if I bought in 2015.

Edited November 27, 2020 by Stacktastic

[KDave]

"I don't really know what bitcoin is but I'm going to sell my gold and buy bitcoin instead" = Bitcoin has gone parabolic again, how high does it go and how low will gold go.

Gold buyers should hope bitcoin keeps going higher.

[Nick1368]

£1325 as I type , I can see it going down to £1250 by the end of the week , great buying opportunity I would say .

[StevenK]

6 minutes ago, Nick1368 said:

£1325 as I type , I can see it going down to £1250 by the end of the week , great buying opportunity I would say .

What is happening with gold prices right now. I started collecting in June because I had managed to save during lockdown and had heard that gold prices were going to soar. I'm buying for the long haul so this dip isn't worrying me at the moment but how long is this likely to last and should I be worried about my investments. I'm 3k in on bullion and proof coins and coin sets.

[Richiesilver]

2 minutes ago, StevenK said:

What is happening with gold prices right now. I started collecting in June because I had managed to save during lockdown and had heard that gold prices were going to soar. I'm buying for the long haul so this dip isn't worrying me at the moment but how long is this likely to last and should I be worried about my investments. I'm 3k in on bullion and proof coins and coin sets.

In my opinion this is the vaccine/biden dip. I am guessing the confidence will take us to ~£1200 or there bouts at which point it will start going back up again once people realise the economy is screwed even without corona! Buy buy buy!

[Nick1368]

1 minute ago, StevenK said:

What is happening with gold prices right now. I started collecting in June because I had managed to save during lockdown and had heard that gold prices were going to soar. I'm buying for the long haul so this dip isn't worrying me at the moment but how long is this likely to last and should I be worried about my investments. I'm 3k in on bullion and proof coins and coin sets.

I wouldn’t worry my friend , you done the sensible thing by turning your paper or digital money into real money , gold is the real money and this dip will Be short lived in my opinion .

look how much money is being printed these days , for example the furlough scheme was supposed to end in October but they made a quick decision and extended it until March , what do you think will happen to the world after the virus is dealt with ? How are they going to deal with this ocean of debt ? 
 

 

[Paul]

[Robda1986]

Who's playing with an algorithm? 

[Paul]

have a look back over the 10 year gold chart and December is normally always the low(est) month for the year

[Stacktastic]

 

3 hours ago, Richiesilver said:

 the economy is screwed even without corona!

 

3 hours ago, StevenK said:

I started collecting in June because I had managed to save during lockdown

Same here. 

Dont believe all the internet people. There is one person in particular who constantly gets things wrong and then conveniently forgets (Rymes with Monaco)  . He purposefully uses the whole fear thing as a vice to get people hooked, but a lot of what he is saying is correct and he does know a lot of stuff, but his outlook is VERY limited and quite negative tbh. He is also at retirement age and clearly has a nice life & uses the channel to pay his bills. Kitco is better for a better view on whats happening. I like Raul Pals attitude, especially as its more Macro. 

As Richie says - at the moment people are being emotional and when you look at the nuts and bolts - there are some big problems and it has nothing to do with any semi-fictional pandemics. The best thing is  to look at it in a 10 year time frame, go on the charts and pan out to see how things happened in the last downturn in 2008 & focus less on the weeks and months. It's not the get right quick scheme being promoted (Mike Malony stuff), but it may produce some very good upside at some point. 

Its good you have physical (Look at it as a long term savings account, there may be a period of time where you will see £800 gold again so over 10-20 years it will even out if you are paying £1,450 now. I am feeling for the people that have bought papers they can still hold and sell next year. I bought £500 ETF only a few weeks back. Bitcoin is OK but I think its too late in the game for that, I cant risk it. Mining stocks are probbaly the best asset to get if your prepared to wait a year or three. 

Edited November 30, 2020 by Stacktastic

[Paul]

On 30/11/2020 at 11:12, StevenK said:

What is happening with gold prices right now. I started collecting in June because I had managed to save during lockdown and had heard that gold prices were going to soar. I'm buying for the long haul so this dip isn't worrying me at the moment but how long is this likely to last and should I be worried about my investments. I'm 3k in on bullion and proof coins and coin sets.

This video in the first 10 mins explains you through for the recent turbulence in PM markets this time of year 

Good commentator, Alistair Macleod on things.  Very easy on the ears 

[Stacktastic]

Now this guy should be in charge of the economy - he is everything a banking manager should be.

[DarkChameleon]

On 30/11/2020 at 09:17, Stacktastic said:

 

 

Same here. 

Dont believe all the internet people. There is one person in particular who constantly gets things wrong and then conveniently forgets (Rymes with Monaco)  . He purposefully uses the whole fear thing as a vice to get people hooked, but a lot of what he is saying is correct and he does know a lot of stuff, but his outlook is VERY limited and quite negative tbh. He is also at retirement age and clearly has a nice life & uses the channel to pay his bills. Kitco is better for a better view on whats happening. I like Raul Pals attitude, especially as its more Macro. 

As Richie says - at the moment people are being emotional and when you look at the nuts and bolts - there are some big problems and it has nothing to do with any semi-fictional pandemics. The best thing is  to look at it in a 10 year time frame, go on the charts and pan out to see how things happened in the last downturn in 2008 & focus less on the weeks and months. It's not the get right quick scheme being promoted (Mike Malony stuff), but it may produce some very good upside at some point. 

Its good you have physical (Look at it as a long term savings account, there may be a period of time where you will see £800 gold again so over 10-20 years it will even out if you are paying £1,450 now. I am feeling for the people that have bought papers they can still hold and sell next year. I bought £500 ETF only a few weeks back. Bitcoin is OK but I think its too late in the game for that, I cant risk it. Mining stocks are probbaly the best asset to get if your prepared to wait a year or three. 

The population is growing faster then the pms so thats always a good sign for holding some.

[Stacktastic]

1 hour ago, DarkChameleon said:

The population is growing faster then the pms so thats always a good sign for holding some.

As far as I can see, we are moving into 4th industrial revolution, which means homes and lives will be run by electronics. 
Not to mention EV's, ai, robots & solar panels.

And what do they all need = SILVER!
You just have to look at Platinum at the moment with regards to supply and demand effects. 

The only thing that bothers me is off world mining prospects, cleverer ways to fix prices & cheaper alternatives. 

Edited December 2, 2020 by Stacktastic

[Midasfrog]

Is gold going to carry on its recovery now that we are into December or will there be some further drops and then picking up in January ?

[dicker]

My guess is that the next inflection point for Gold in GBP is the conclusion of the Brexit negotiations.  
 

This seems to be likely within the next few days if the the EU can align its members. 
 

Depending on the shape of a deal, Sterling rises strongly (gold down in GBP). No deal Sterling tanks (gold up in GBP)

Anyone have a different opinion?
 

Best

Dicker
 

 

[Oldun]

Currently, the USD is tipping into a space where the majority of traders (about 70% due to covid 19 vaccine/hooray Biden is Pres simpletons) are on the long side of usd and one more dump will take care of them. This is the reason for the recent bounce in gold in gbp or other currencies. Very little to do with Brexit as that is already baked in from years ago.

Edited December 3, 2020 by Oldun

[Oldun]

Euro/GBP short might be worth a punt.

[Oldun]

The usd may bounce soon but retail etc are 70% balls deep long USD versus the majority of currencies and must be punished ?

Edited December 3, 2020 by Oldun

[Kman]

33 minutes ago, Oldun said:

Currently, the USD is tipping into a space where the majority of traders (about 70% due to covid 19 vaccine/hooray Biden is Pres simpletons) are on the long side of usd and one more dump will take care of them. This is the reason for the recent bounce in gold in gbp or other currencies. Very little to do with Brexit as that is already baked in from years ago.

Asset managers are record short the dollar