Gold Monitoring Thread £ GBP only

[Stacktastic]

2 hours ago, dicker said:

Just under 5 hrs until market open.  Down I suspect.

I think so, I shall be up early tomorrow, its going to be a fun few days.
Opportunity of the year if you ask me, but Im no expert.

Interesting to see what the asian markets do. Spent today formulating an ideal stock buying plan with £7-9k to spend.  Keeping it simple seems logical. Interested to see any amazing physical deals arise out of this. i cant see it lasting long though & the dealers know that. 

Edited January 10, 2021 by Stacktastic

[dicker]

With Bitcoin falling (down about 13pct in the last 24 hours) perhaps some cash will flow to Gold.  

[Stacktastic]

5 minutes ago, dicker said:

With Bitcoin falling (down about 13pct in the last 24 hours) perhaps some cash will flow to Gold.  

I did not know that. I shall have that on in the background also as thats an indicator.
Its about time if you ask me. Wish I had got in on that space. I thought it was over valued at 8k!  
If thats cascading overnight then gold might rocket as will the miners. Im happy with my positions so thats fab. 

Edited January 10, 2021 by Stacktastic

[dicker]

I have been looking on:

I wanted to get a graph of Gold in GBP and BTC updating at the same time but I don’t have @Kmanskills!

 

[Paul]

BTC is kind of regarded as a 'safe haven' in these funny days we live in

Let hopes that when BTC starts to nose dive in price, 'safe havens' are not all lumped together

i.e. when BTC nose dives, gold follows suit

Who knows ??  who thought having a bit of cash could be so stressful.

When i young and didn't have reciprocal to urinate into, i didn't have a care in the world ! 🤣😆😁

[Kman]

2 hours ago, dicker said:

I have been looking on:

I wanted to get a graph of Gold in GBP and BTC updating at the same time but I don’t have @Kmanskills!

 

Not sure what you mean by updating, just overlayed or live?, you can get a chart of gold vs bitcoin live - https://uk.tradingview.com/symbols/TVC-XAUBTC/

If you overlay gold on bitcoin in pounds it's a bit misleading because they're relative to themselves

The big gold (orange) move up is 35% but bitcoin (pink) is 450%

 

If you overlay them as purely percentages gold looks like a flat line because bitcoin has gone up so much

Edited January 10, 2021 by Kman

[dicker]

@KmanSorry yes I meant live.  That is excellent.  Many thanks. 

[Nick1368]

going down nicely now , £1348 as I type .

Edited January 11, 2021 by Nick1368

[272]

Seems to have rallied back to an average of around £1,358 at the moment? We'll see what happens at 8am!

[dicker]

So gold stable in GBP (BTC down)

[MancunianStacker]

11 hours ago, dicker said:

So gold stable in GBP (BTC down)

Yeah down 20% in 24 hours last time I looked. Glad I don’t buy any digital currency on Friday 😱 

[DarkChameleon]

10 minutes ago, MancunianStacker said:

Yeah down 20% in 24 hours last time I looked. Glad I don’t buy any digital currency on Friday 😱 

Crypto is way too tsunamic for gold and silver holders, gold flattens out the waves, silver gives you something to sail on but crypto is like surfing south island waters with a lot for coral reefs around you.

[MancunianStacker]

11 minutes ago, DarkChameleon said:

Crypto is way too tsunamic for gold and silver holders, gold flattens out the waves, silver gives you something to sail on but crypto is like surfing south island waters with a lot for coral reefs around you.

I might Pound cost average maybe £25 a week into it, just to have some expose to it. I won’t miss it that way if it doesn’t work out in 20 years time. If I get my money back great. 

[Midasfrog]

30 minutes ago, MancunianStacker said:

Yeah down 20% in 24 hours last time I looked. Glad I don’t buy any digital currency on Friday 😱 

A 50% drop in Crypto is normal and expected sorts out the boys from the girls 😂 the time to buy Crypto tokens is now.

Gold price holding steady today 😃

[DarkChameleon]

31 minutes ago, Midasfrog said:

A 50% drop in Crypto is normal and expected sorts out the boys from the girls 😂 the time to buy Crypto tokens is now.

Gold price holding steady today 😃

We found the same in silver when it was rising $1, $2, $3 a day, as the buyers flooded in, then it dropped just as quick when they felt the jumps weren't as good and then the slide began and the greedy got frightened....exactly the same as crypto but the sways are stupid, its not boys from girls its investors and high risk gamblers....I found the same in baseball cards, people pumping and dumping and others trying to ride a wave that has no rule of thumb...massive profits if you got in when nobody had thought of it and massive losses if you followed the crowds, by the time the crowd starts forming the wise money is leaving...as buffet advises, when the market gets greedy get frightened, when the market gets frightened get greedy.

[dicker]

Right getting this back one Gold in GBP:

Biden has just said that his first priority is stimulus.  This = lower dollar = higher prices in GBP.

[Paul]

6 minutes ago, dicker said:

Right getting this back one Gold in GBP:

Biden has just said that his first priority is stimulus.  This = lower dollar = higher prices in GBP.

 

[Kman]

51 minutes ago, dicker said:

Right getting this back one Gold in GBP:

Biden has just said that his first priority is stimulus.  This = lower dollar = higher prices in GBP.

Does stimulus hurt the dollar?

The US isn't the only country doing QE and stimulus, how does that effect those countries and their currencies?

Isn't the EU passing stimulus bills? why is the euro elevated?

55 minutes ago, Paul said:

 

 

That is totally wrong to the point of being annoying 

 

[dicker]

Fair point - my suspicion is that the US under Biden will borrow more to stimulate the US economy. Maybe its already priced in?

Best 

Dicker

[DarkChameleon]

49 minutes ago, Kman said:

Does stimulus hurt the dollar?

The US isn't the only country doing QE and stimulus, how does that effect those countries and their currencies?

Isn't the EU passing stimulus bills? why is the euro elevated?

 

That is totally wrong to the point of being annoying 

 

Only becomes uneven if everyone else isn't doing it...but all major countries are printing like their little lives depended on it so the stables of investment like gold stay pretty much even set to inflation....shame countries are putting their debt into orbit where once 40% dgdp was seen as good 100% or more is acceptable in too many countries.

[OldNick]

Seeing Gold gradually falling (£1,354 at time of writing) this week while USD/GBP pretty stable, any one any views on what’s happening? Stability in the USA?

[DarkChameleon]

41 minutes ago, OldNick said:

Seeing Gold gradually falling (£1,354 at time of writing) this week while USD/GBP pretty stable, any one any views on what’s happening? Stability in the USA?

Greed selling pms to buy crypto.

[Kman]

I don't think it's anything to do with crypto

I've posted this before but my guess is that banks or other big financial institutions have a program running tracking 10 year inflation securities

When they go lower it triggers gold buys, when it goes higher it triggers sells

gold can get a little bit away due to speculation or for short term fear but this chart is just undeniable 

Yields have been rising lately (modestly in the big scheme of things) on senate seats and what that means for fiscal bills being passed

 

 

 

Edited January 12, 2021 by Kman

[dicker]

7 minutes ago, Kman said:

I don't think it's anything to do with crypto

I've posted this before but my guess is that banks or other big financial institutions have a program running tracking 10 year inflation securities

When they go lower it triggers buys, when it goes higher it triggers sells

gold can get it a little bit away due to speculation or for short term fear but this chart is just undeniable 

Yields have been rising lately (modestly in the bi scheme of things) on senate seats and what that means for fiscal bills being passed

 

 

 

Totally agree - the algo trading used by investment banks and hedge funds will have a few more parameters but you have summed it up very well.  

I worked in high frequency trading design & development in a past life and saw the HFT and Algo systems mated together to exactly this purpose using other instruments - and they did it very very quickly.

Cheers

Dicker

[Bars]

Bagged a sov for 335 my best price yet, hope it falls some more.