Gold Monitoring Thread £ GBP only

[Nick1368]

[Stacktastic]

1 hour ago, Kman said:

Might be some news in the US I haven't seen

The new york stock exchange and banks are closed today - Martin Luther King day. 
Also Chinese New Year over the weekend. 

[OldNick]

Looks like news of possible easing of lockdown in UK is encouraging pound buying and increasing strength of GBP to USD has driven down the gold price recently

Is now the time to buy or are bigger factors at play to further reduce the cost of gold in GBP in the short term?

[Martlet]

£ will creep upwards as we come out of recession and economy restarts.  Gold:$ been in a downward trend since August and probably continue as risks subside.   $1750 / £1230 by end of Q1.

Edited February 16, 2021 by Martlet

[OldNick]

I think you are right just dropped below £1,300 !!!

[Stacktastic]

Dangerously close to the $1800 level. $1805. 

Its probably pre market sales from the USA, as its been closed all weekend.
I do think it should come back as silver is doing well as are all the other commodities, especially platinum. 

There has never been more of a need to buy gold than now in recent years. 
Does not mean it will go to £1,200 though

[Stacktastic]

3 hours ago, OldNick said:

are bigger factors at play to further reduce the cost of gold in GBP in the short term?

I think it might have a run up today after 3pm, but im no expert.
its in a bull run after all and as I have said everything else is doing well???

Stimuls cheques being handed out soon in the USA April i believe - Its no secret holding dollars is not good & gold is a historic store of wealth. 
Its also quite well known that banks might go into negative interest, which means that it will cost money to have a bank account. 

The banks are opening today in the USA after 3 days closed so that will have an impact especially in the paper markets. 
Which way it will go I have no clue - just topped up on what I thought was the bottom & it kept going.
Hopefully extract a bit of profit by the end of the month? Knowing my luck it will go to £900 and stay there for the next 10 years LOL. 

Edited February 16, 2021 by Stacktastic

[OldNick]

Just bought forward part of the month end spend to take advantage of the dip🙂

Another Sov on the way and £16 cheaper each than just 3 weeks ago!! Just over a 5% movement...

Edited February 16, 2021 by OldNick
Spelling

[HerefordBullyun]

All commodities are getting smashed today. The cartel are going for it. A lot of paper silver and gold shorts going on.

[Martin1983]

GOLD continues its crash and i have just bought my first ever 3oz of gold yesterday 😭   lucky i am in this for the long game 20 to 30 years ha, although i will continue to try and buy when the gold price is going down. 

[Stacktastic]

16 minutes ago, HerefordBullyun said:

All commodities are getting smashed today. The cartel are going for it. A lot of paper silver and gold shorts going on.

Whats the resistance - I have $1775? Im dreading to see what happens at 2.30!
Gonna be some big red lines thats for sure, but it might be a good day for trading? 🙈

Or I might just give up watching my mining stocks all go red and buy a another sov instead.

[longmore]

Just how low it can go, I wonder?

 

Should I jump in?

[Stacktastic]

11 minutes ago, longmore said:

Just how low it can go, I wonder?

 

Should I jump in?

Im waiting, to see the general market conditions, but it looks like you could ride first majestic, which was what i did last time. 
Not really got any traction really, but scalping rises seems like its a bet, unless you set a stop loss. 
If i was that good I would short it on the way down too. 

https://www.finviz.com Looking quite green today. 

Later this afternoon would be good as the Comex is open. FM Ripping up now - looking promising. 
mag seems to be targeted heavy, see if it pulls back hard. 

Kind off topic for most of you sorry.
 

Edited February 16, 2021 by Stacktastic

[OldNick]

Got down to £1,292 now back to £1,304!

Phrases about Ladies of easy virtue and their underpants spring to mind😀

Pleased I got in on the way down and not on the way up😃

[Stacktastic]

12 minutes ago, OldNick said:

Got down to £1,292 now back to £1,304!

I am loving this it shows the whole world how manipulated our finance system is. 
I was too chicken to put in any orders. I want to see it go back up after this pull back.
 

[Bluegeo]

2 hours ago, Martin1983 said:

GOLD continues its crash and i have just bought my first ever 3oz of gold yesterday 😭   lucky i am in this for the long game 20 to 30 years ha, although i will continue to try and buy when the gold price is going down. 

Good on ya mate! I bought my first ounce a couple of weeks ago at a slightly higher price😀 Still to receive it though Atkinsons have been great in terms of communication re delay 

[OldNick]

Looks like you may get a second bite of the cherry, back down to £1,296😉

[Stacktastic]

33 minutes ago, Bluegeo said:

 delay 

I got my ATS bullion coins today - ordered them Friday. Cracking service and nice to have special delivery. 
I even got a free chocolate.

Just sent the wife to Costco.  for another one as long as its under £330 im happy. 
Trying to do one SOV a month now & save up during higher spot prices for when it dips. 

The penny stocks like Comstock were fabulous. Low and behold the banks are a good sector!! 
Silver especially as you can get a lot more shares in silver & profit as a result. 

I think when the LSE closes and also the banks - its gonna have a nice run up. 
The USA markets are stagnant so thats not helping. 

Edited February 16, 2021 by Stacktastic

[Derv]

Just got the Mrs a lucky dip bullion sovereign from BBP with a free Britannia. First time using the referral 

[Stacktastic]

11 minutes ago, Derv said:

Just got the Mrs a lucky dip bullion sovereign from BBP with a free Britannia. First time using the referral 

How long did it take to arrive as I have a referral code for a free silver brittania.
Might use that if it goes under £1,280

Edited February 16, 2021 by Stacktastic

[Derv]

The code ? Sent almost instantly I think.  I purchased it a half hour ago online. 

[HelpingHands]

6 hours ago, Martlet said:

£ will creep upwards as we come out of recession and economy restarts.  Gold:$ been in a downward trend since August and probably continue as risks subside.   $1750 / £1230 by end of Q1.

What about if negative interest rates arrive though?  

[Stacktastic]

4 minutes ago, HelpingHands said:

What about if negative interest rates arrive though?  

My thoughts exactly, especially if other stores of wealth decline like Bitcoin & property. 
One thing about all of this, especially gold its teaching me to be a patient person & also not to be emotionally reactive to life. 

I really think at some point this year it will explode, probbaly after the summer. My instincts on Platinum are turning out right. We could see Gold prices with that soon. Maybe they will swap as its a much nicer metal IMO. 

Edited February 16, 2021 by Stacktastic

[HelpingHands]

10 minutes ago, Stacktastic said:

My thoughts exactly, especially if other stores of wealth decline like Bitcoin & property. 
One thing about all of this, especially gold its teaching me to be a patient person & also not to be emotionally reactive to life. 

I really think at some point this year it will explode, probbaly after the summer. My instincts on Platinum are turning out right. We could see Gold prices with that soon. Maybe they will swap as its a much nicer metal IMO. 

Maybe economic recovery and negative interest rates cancel each other out on macro views.

I've been thinking about this recently and just don't know.

The chart would look a bit odd to me though if it just sank for years again from here (considering it broke the 2011 high).

Plus Peter Schiff has to be correct eventually like a broken clock.

[Nugget]

I also grabbed two cheeky sovereigns in the dip.  Benefits of pound cost averaging and drip feeding funds into PMs, bit by bit.  

I try not to look at prices again until I'm ready to make another purchase.  

Edited February 16, 2021 by Nugget