Gold Monitoring Thread £ GBP only

[Ceaiu]

Your favorite brand is offering discounts on their products, and you're not happy. Strange!

[Bumble]

According to some commentators I follow, the market jitters at the moment are a combination of two things. One is that until recently everybody has been fully long and optimistic, so there is little room for upside. The other is that there is little demand for US government bonds from foreign investors. The latter has resulted in little interest in a recent auction of new bonds, and a sell-off in bonds that has pushed the price down and hence the yield up.

The curious thing is that the money that has come from selling bonds has not gone into other assets. Stocks are down, gold is down, crypto is down. We could be heading for another general fall, like we had last March. As to where market participants go when everything is selling, the answer seems to be huge, liquid tech stocks like Apple and Microsoft. They are among the few things bucking the trend. People don't want to sit on mountains of cash at the bank, so buying a liquid asset such as Apple stock is a good proxy for cash.

The situation won't resolve itself until the US government and the Federal Reserve make their short-term intentions clear. Stimulus spending by the government, financed by issuing new bonds, will only make yields go even higher, unless the Fed steps in to buy them. If they are determined to stop bond yields rising, and asset prices falling, the Fed will have to act to reduce yields by buying more bonds, effectively monetizing Treasury debt.

[Midasfrog]

Metalor 100g cast gold bar price on 10/11/20 was £4720 

Fast forward 15 weeks and 2 days to 26/2/21 and the same bar from the same dealer will cost you £4169 

Value is locked into to both bars and will make nice paper weights . The difference in cost will be averaged out in the stack. 😀

[Kman]

3 hours ago, Bumble said:

According to some commentators I follow

The only commenter worth following regarding UST is Jeff Snider - https://alhambrapartners.com/2021/02/25/three-things-about-todays-ust-sell-off-beginning-with-fedwire/

 

[Bumble]

@Kman I wasn't all that impressed with the article you linked. He explains that the sell-off in US government bonds is not all that large, or all that unusual. But there is no explanation of why everything is selling off: stocks, gold, crypto. Normally when bonds sell off, it is because the market is going risk-on and buying stocks instead. This looks more like a panic sell.

Having said that, we are in the last Friday of an even-numbered month, and this is usually when futures contracts and options expire, so we may just be seeing a temporary fall to get contracts into the money.

[Stacktastic]

On 21/02/2021 at 23:43, StevenK said:

So, how do I go about purchasing a little nugget of uranium. Just as an investment you understand.

Yeah holding a mountain of unspent Uranium is possibly not the best idea, although I dont think it would be bad until used. 
There are piles of unspent Uranium all over - as has been suggested especially in the russian belt.

Assuming your not being sarcastic, Uranium mines like Cameco, Dennison, Energy Fuels or middle men like Yellow Cake. 
The spot price has remained the same but the mines have gone up. reversing now I think?
When or if the spot price goes up then its possibly a great value investment. 
Its a bit speculative as Hydrogen is also a possible power source,
but the thinking is the electric requirement will massively increase as will green sentiment & renewables wont keep up. 
Longer term investment, but it has a lot of plausibility.
Unfortunately the cats out the bag and joe public investors are aware of it now.
Just waiting for them to get bored with it and sell off for the next big thing  (as spot has not changed yet). 

I thought gold would be booming now as did everyone else, so nothing is for sure. 
There was one person on here that said 'sell all your physical now'.
I sold a lot actually but I wish I had sold the stocks (or not bought them back). It will come back, it has to at some point.

11 hours ago, stefffana said:

So, I will continue buying, doesn't matter the price. I am really sorry I couldn't accumulate more earlier.

Yeah thats my thoughts - regular purchases especially when its cheap. 
This is possibly the best opportunity yet when comparing it to silver and other hard tangible assets. 
I dont think this is the end, for sure looking at the macro. Later this year at a guess?
Its could go lower a lot faster now its broken key resistence, which will shock a lot of people holding the asset into selling. 

Edited February 27, 2021 by Stacktastic

[HerefordBullyun]

@StevenKI thi yourll find you wouldnt be able to buy uraninium. Its a acontrolled substance and very dangeroius. ]t

[Stacktastic]

4 minutes ago, HerefordBullyun said:

@StevenKI thi yourll find you wouldnt be able to buy uraninium. Its a acontrolled substance and very dangeroius. ]t

https://www.ebay.co.uk/itm/Absolutely-Stunning-Large-Art-Deco-Uranium-Glass-Fruit-Bowl/333896204473?hash=item4dbdc3c0b9:g:7zAAAOSwpTFgMUMe

[HerefordBullyun]

2 minutes ago, Stacktastic said:

https://www.ebay.co.uk/itm/Absolutely-Stunning-Large-Art-Deco-Uranium-Glass-Fruit-Bowl/333896204473?hash=item4dbdc3c0b9:g:7zAAAOSwpTFgMUMe

All glitters isnt gold ask gary glitter the dirty old nonce 

Edited February 27, 2021 by HerefordBullyun

[kurama]

51 minutes ago, Stacktastic said:

https://www.ebay.co.uk/itm/Absolutely-Stunning-Large-Art-Deco-Uranium-Glass-Fruit-Bowl/333896204473?hash=item4dbdc3c0b9:g:7zAAAOSwpTFgMUMe

That’s a lovely looking bowl to store some gold coins in 😁

[StevenK]

7 hours ago, HerefordBullyun said:

@StevenKI thi yourll find you wouldnt be able to buy uraninium. Its a acontrolled substance and very dangeroius. ]t

Yeah, I was joking about the buying of actual physical uranium. When I saw it mentioned as possible stock I thought there's no way you can buy physical uranium, that's what nukes are made of. I'm no physicist but I'd probably give it a go. 

[Spark268]

as mentioned elsewhere, the Geiger counter trust is a good fund that holds a variety of uranium based stocks.

Now back to the topic, looks like there's a dip buying opportunity in gold, in time for pay day 

Edited February 27, 2021 by Spark268

[Stacktastic]

3 hours ago, Spark268 said:

as mentioned elsewhere, the Geiger counter trust is a good fund that holds a variety of uranium based stocks.

Now back to the topic, looks like there's a dip buying opportunity in gold, in time for pay day 

Once in a cycle opportunity I would say. But how low will it go & how long will it last?
It reminds me of the oil price last summer. Now look at it.

Edited February 27, 2021 by Stacktastic

[Spark268]

32 minutes ago, Stacktastic said:

Once in a cycle opportunity I would say. But how low will it go & how long will it last?
It reminds me of the oil price last summer. Now look at it.

hehe, i do recall about planning on sailing a boat to bring some oil back from the States, taking a few 400oz bars of gold with me  

[CadmiumGreen]

6 hours ago, StevenK said:

Yeah, I was joking about the buying of actual physical uranium. When I saw it mentioned as possible stock I thought there's no way you can buy physical uranium, that's what nukes are made of. I'm no physicist but I'd probably give it a go. 

Funnily enough...my grandfather told me about the time he was interviewed for a job with 3M on the Manhattan Project...the program direct rolled a piece of metal and asked him what the metal, of which my grandfather replied “Uranium”...he was thusly hired and ended up developing the trigger mechanism for the first atomic bombs. Curious enough, just to add to the story...he ended up marrying General Groves’ secretary when he was stationed in Oak Ridge, Tennessee! I find the little known personal aspects of history to be fascinating!

[DarkChameleon]

4 minutes ago, CadmiumGreen said:

Funnily enough...my grandfather told me about the time he was interviewed for a job with 3M on the Manhattan Project...the program direct rolled a piece of metal and asked him what the metal, of which my grandfather replied “Uranium”...he was thusly hired and ended up developing the trigger mechanism for the first atomic bombs. Curious enough, just to add to the story...he ended up marrying General Groves’ secretary when he was stationed in Oak Ridge, Tennessee! I find the little known personal aspects of history to be fascinating!

Good thing the trigger worked or that would have been embarrassing..lol.

[Pete]

To BUY or NOT to BUY ? .... that is the burning question.
I was thinking about spending some cash ( impossible to spend during lock down on the usual habits ) and looking to continue my Queens Beasts in 1 oz gold.
I held off when gold went through the £1,000 barrier but it went up and up even more and never retracted until fairly recently.
What do gold junkies reckon - good price now or wait and do the cold turkey ???

[HerefordBullyun]

4 minutes ago, Pete said:

To BUY or NOT to BUY ? .... that is the burning question.
I was thinking about spending some cash ( impossible to spend during lock down on the usual habits ) and looking to continue my Queens Beasts in 1 oz gold.
I held off when gold went through the £1,000 barrier but it went up and up even more and never retracted until fairly recently.
What do gold junkies reckon - good price now or wait and do the cold turkey ???

I can see gold goin down again to be honest then its going to  start pucking up

[Pipers]

8 minutes ago, Pete said:

To BUY or NOT to BUY ? .... that is the burning question.
I was thinking about spending some cash ( impossible to spend during lock down on the usual habits ) and looking to continue my Queens Beasts in 1 oz gold.
I held off when gold went through the £1,000 barrier but it went up and up even more and never retracted until fairly recently.
What do gold junkies reckon - good price now or wait and do the cold turkey ???

Not bought then since May 2019? 

[Pipers]

The amount of forum members who have got at me and bloked me for suggesting they alter their buying habits at high prices.  Anyway the ones who have blocked me cannot read this message,

There is nothing wrong in finding the best price.  The more experienced members didn't get burn't.  I hope you didn't get burn't to much. 

[Pete]

5 minutes ago, Pipers said:

There is nothing wrong in finding the best price.  The more experienced members didn't get burn't.  I hope you didn't get burn't to much. 

Thankfully I remain on high ground when it comes to gold.
I sold a lot a while back only to see it rise steadily by 30% afterwards but I was happy at the time with the proceeds.
Dr Hindsight would have recommended waiting of course but it is impossible to pick the peaks and troughs in PMs.
Just wondering if now is a good time to replace some of the gold and hold for the the future or is it destined to fall in which case waiting is sensible.
No-one knows but interested to hear from others who have better tea-leaves or a crystal ball that works.

 

[Robda1986]

19 minutes ago, Pete said:

Thankfully I remain on high ground when it comes to gold.
I sold a lot a while back only to see it rise steadily by 30% afterwards but I was happy at the time with the proceeds.
Dr Hindsight would have recommended waiting of course but it is impossible to pick the peaks and troughs in PMs.
Just wondering if now is a good time to replace some of the gold and hold for the the future or is it destined to fall in which case waiting is sensible.
No-one knows but interested to hear from others who have better tea-leaves or a crystal ball that works.

 

Given we're still to feel the financial impact of the last 18 months I've a feeling its going to riseing in price as will all assets 

[Pipers]

Not sure but i would be be reading a lot atm about bond levels and gold. 

Also this is important IMO though not Gold it certainly should worry some on this site.

https://www.kitco.com/news/2021-02-28/Rick-Rule-steps-down-from-managing-director-role-at-Sprott.html

[Chrisplym]

Interesting stuff guys. Nobody knows the future, but your spare cash has to go somewhere! 😉

[Stacktastic]

12 hours ago, Pete said:

To BUY or NOT to BUY ? .... that is the burning question.

I am waiting for it to turn and stay like that as it is probably going lower, possibly a lot lower. 

12 hours ago, Pipers said:

The more experienced members didn't get burn't.  I hope you didn't get burn't to much. 

I sold 3/4 of my gold (& 1/3 silver) a month back. Complete fluke mind you I was sure it was on its next leg up in Jan. 😛
A lot of that money has gone into gold/copper miners & dividend stocks, so Im no more better off. 

12 hours ago, Pete said:

Just wondering if now is a good time to replace some of the gold and hold

12 hours ago, Robda1986 said:

Given we're still to feel the financial impact of the last 18 months I've a feeling its going to riseing in price as will all assets 

This could be the best buying opportunity for some time, but as you say it could also be a bear market trap and it will sit at £900 for 2 years. 
a few things I think is certain is that: 
- Bitcoin will crash back to £20k at some point
- There is false hope that the economy is bouncing back - the fundamentals dont whole that at all
- All other metals are doing very well, most notably silver - gold has to pick up just based on that. 
- The stock market is over bought and in a bubble, you can see people moving out of tech and into more safer assets. 
- connected to that is that free money will stop pretty soon & people will be out of work and able to be evicted etc. 

I would say its a time to sit back and wait, a bit like bitcoin in the last week. 
Personally Im just ignoring my stocks and getting out in the garden for a well needed break/distance. 

 

Edited March 1, 2021 by Stacktastic