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Gold Monitoring Thread £ GBP only


Paul
Message added by ChrisSilver

This topic is to discuss price action in GBP, to discuss price action in $ USD, please see this topic: https://thesilverforum.com/topic/19962-gold-monitoring-thread-usd-only/

 

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2 hours ago, dicker said:

According to Kitco, gold is down as the market is pricing a better performing US economy i.e. Risk ON

Which doesn't really explain why BTC is up 5.5% today, if as many are saying it is an alternative to gold.

Curiouser and curiouser....

If this is true then TLT should be tracking Gold in the steepness of the drop, because TLT should fall with rising real yield expectations (as gold supposedly is), but TLT is merely gently drifting lower (-0.24%). I wonder if instead this is a forced liquidation event, or CME smashing gold spot down ahead of huge February open interest (like they did in November).

Edited by swanky
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4 minutes ago, silvernewbie said:

Btc and others are definitely taking cash from PM’s, so much positivity on bitcoin recently how funds are buying and mainstream is no longer talking of btc as being a big scam

can see gold dropping another 5-10% during January which makes a good entry point

My pro BTC friends are selling half they BTC positions and buying gold now. 🤷‍♂️ 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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2 minutes ago, MancunianStacker said:

My pro BTC friends are selling half they BTC positions and buying gold now. 🤷‍♂️ 

Cashed some £s out of BTC today, going straight into gold (sovs) when it clears into the Bank... hopefully gold spot will have dropped a few points by then.

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19 minutes ago, Paul said:

Little bit into everything none-fiat and spread the risk GLD, SLV, BTC, ETH, MALT & WSKEY ( :) ) 

No METH? 😉 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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I've noticed that gold/silver gets more volatile(bigger dips) as the stock market wants to make highs and

is also getting volatile/overbought. similar to what happened in early 2020. it like pm's is indicating that

stock is due a top of some sort.

 

HH

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They are saying gold prices are dropping as the greedy dump it to buy into higher returns on bitcoin..boy thats a risk, they coukd lose their shirts in seconds on cryptos, ill give up 5% on gold then potentially get caught in a $5000 a week limit in selling my cryptos when they go upside down.

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@HawkHybridI think there may well be something in that. 

If ever I saw a market ripe for correction it is stock at the moment, both here and and in the US.  Stock is up over 20 pct since November in the U.K. FTSE within striking distance of 7k.  The Dow is much more frothy still.  
 

Maybe it is like the canary in the mine, or the sea going out as far as you can peer just before a tsunami.  
 

Best

Dicker

Not my circus, not my monkeys

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Just to add, I was sent the following article by a friend.  I don’t have many friends who read the Guardian 🙂, but none the less it is worth a read.  
 

https://www.google.co.uk/amp/s/amp.theguardian.com/business/nils-pratley-on-finance/2021/jan/06/veteran-investor-stock-market-jeremy-grantham-epic-bubble-wall-street

Not my circus, not my monkeys

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Bear in mind that gold competes for investment money with other asset classes. Investors are expecting the USA to spend lots of money on infrastructure and this will be good for many stocks, especially in the construction, manufacturing and basic materials space. Add to that the fact that a lot of people are piling into BTC because it has doubled in a few weeks and the sky is the limit. So investors are leaving gold behind, at least for now. Gold will probably do better if price inflation starts to pick up, because the central banks will almost certainly keep interest rates low.

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2 hours ago, Bumble said:

Gold will probably do better if price inflation starts to pick up, because the central banks will almost certainly keep interest rates low.

Lol "if inflation starts pick up" ahahaha. Similar to this you have also a bunch of PM "experts", especial silver youtube "experts" who keep saying, if silver go up much in value, it s not world you want to live! Hm.. did you notice, it s only said for silver!!? Everything else can go up 1000 times, but if silver go, it will be end of world, lol ahaha! So it s just pointing where the really value is, in PM! Back to "if inflation starts pick up"?! Man look at USA stock exchange, you have hyperinflation already there!! Only better than NYSE is Zimbabwe stock exchange, because they start before with hyperinflation haha.   

Edited by SPGfuntime
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14 hours ago, Paul said:

Little bit into everything none-fiat and spread the risk GLD, SLV, BTC, ETH, MALT & WSKEY ( :) ) 

14 hours ago, MancunianStacker said:

No METH? 😉 

Custom watches apparently too. 

13 hours ago, HawkHybrid said:

it like pm's is indicating that stock is due a top of some sort.

I have been shocked this week, especially yesterday at the prices of major break out small and mid cap mining stocks plummeted. 
Everytime I thought i had bought in at the bottom, it continued down the next day to November/April levels now.
What next March Lows LOL. US/canadian stocks mind you, UK mining is not as bad. 

Its buying season as far as im concerned as it wont last long. It's Christmas come late, it will u-turn Q1 at some point I think. 
And if the stock market does cave in (it wont as Janet Yellen will print 3 times what trump did) miners usually bounce back quickly. 

Im considering buying a gold ETF if it hits Nov lows as per the analyst in the video. $1,850 he recons. 
He is saying he would not be suprised if by Tuesday it wont bounce back, especially if crypto starts pulling back. 

gold.png

Crypto will carry on as long as the dole out money is being given, but it stinks of FOMO & will also correct VERY hard soon I recon. 
If people are selling PM's to buy any over valued crypto they are very silly indeed.

There will be a lot of people loosing a lot of money soon, or at the very least they have to sit on it for the next few years. 
Tesla up 7% - my god. its the tech bubble or the 1920's again, when everyone was dancing and stuff prior to an almost instant depression. ;)

My friend sold a load of silver for alt coins, which makes a bit more sense as there is less risk. He is no fool though.
I can see this gold dump continuing next week, so its a great time to stock up on some physical, before it comes back into favour. 

I want this guys monitor system LOL. I can pretend Im on Wall street then. 
3 is not enough. 😛 'Panic into bitcoin' sums it up. 

David has become such an amazing interviewer & very spot on with his own opinion, I dont watch Stansberry anymore. 

 

Edited by Stacktastic
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2 hours ago, Bumble said:

Nah. That guy is clearly an amateur. Check out this video of day trader Stephen Kalayjian for a real rig.

Bloody hell. I would not know what to do with that. Thats mental. 
I get confused with two monitors! I bought £1,300 worth of GDXJ yesterday by mistake! 😛

The worst part was I had sold it earlier in the day at a profit ;) 
Blessing in disguise I think as its probably going lower Monday. 

Just to keep thing on topic, this is a good prediction (as far as my untrained eyes can see): 
 


 

Edited by Stacktastic
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