Gold Monitoring Thread £ GBP only

[Paul]

https://www.bullionbypost.co.uk/gold-price/5year/ounces/GBP/

I'm just looking at the 5 year gold chart on BBP

We are almost in exact same position give or take a couple of quid/days, date for date as five years back

• 07/02/2011 gold is £851
• 11/02/2016 gold now is £849

I wonder if the gold bull run up to £1160+ in the September is set to repeat ???

Looking back at that year 2011 on the graph aside from a few tiny down days gold kept going up and up 

As @Pipers says above, we are not short of reasons why we shouldnt expect a higher gold price (not that we werent in 2011 either) 

Edited February 11, 2016 by Paul

[MikeOxlong]

Nice to keep waking up to £35 spot price jumps each day ha . Glad i got a final small gold pickup last week

[whitesands1]

Looks like gold is on the move, I agree with @ Pipers that silver has a gold pull but might get held back by copper.

There is a real chance that the FTSE 100 could really tank here.  Have a look at five year trend and then 10 (+).  

7000 looks like a real bubble.  Following the last bust, money came out of stocks and into PM.

https://uk.finance.yahoo.com/echarts?s=%5EFTSE#symbol=%5EFTSE;range=5y

https://uk.finance.yahoo.com/echarts?s=%5EFTSE#symbol=%5EFTSE;range=my

[HawkHybrid]

On 2/10/2016 at 10:36, ApisMellifera said:

Yep. Gold is 'resisted at $1201 yesterday and there seem to be a pinbar price signal, so it looks overbought at the moment and might consolidate towards $1170 or lower?....

But let's where it will go...  (and I'm still learning to read the charts).

 

Quote

The question is: Have we reached the "bottom"? 
Well... I'm not so sure.... If I zoom out the Gold chart, I think it's 'still' in a downward direction and could go lower. Gold 'only' touched the $1000 once since the2011 peak. From what I learned from charts is that bottoms are usually 'tested' so it could go down again. (hmmm these words do sound like a NBC host). Let's see... where things are going.... but I will be stacking up for sure.

from your chart, what's your chartist interpretation of what happened on

~3nd Dec and then ~16th dec(black bar)?

could that be gold's bottom?

 

HH

[Oldun]

In dollars who knows....http://thepatternsite.com/aedb.html

in your own currency (if not usd) a different story again perhaps ?

[watchesandwhisky]

I used to be fully silver, then went almost fully gold, now have about equal values in both metals and it certainly feels the safest right now.

[Vern]

Gold up over 4% and silver up over 3% today in £....still surging then.

You don't see that every day.

[Guest]

I am glad I was buying so often when the exchange rate and spot was lower. I certainly started stacking at a good moment.

Looking at some December purchases..8g 2016 panda 320$ now price is 362$ and 10% negative exchange rate movement too..

[Bumble]

The damn thing about being right is that you still beat yourself up for not committing more. Last week I bought shorts on FTSE and various holdings in gold miners and instead of being happy I'm kicking myself for not holding more.

As to whether it will continue to rise, bear in mind: (1) there is a cyclical element to gold's price - it rose sharply in Q1 last year and still fell back; (2) governments are much more inclined to intervene than they were 8 years ago, either to prop up the stock market or to hold down gold, or both; (3) despite point 2, if the hedge funds smell weakness they will pile in and create a big bandwagon.

[Paul]

 

Just this time yesterday we were at £824 =  £868 today   ( +5.35% / £+44.11 )

Better than a years worth of fiat interest earned in the bank, made in a day with a 'barbarous relic'  

[sovereignsteve]

1 hour ago, Numistacker said:

I am glad I was buying so often when the exchange rate and spot was lower. I certainly started stacking at a good moment.

Looking at some December purchases..8g 2016 panda 320$ now price is 362$ and 10% negative exchange rate movement too..

I bought some Krugs about 6 weeks ago for around £725, would cost me £894 now.

[Scuzzle]

I've been buying up the odd proof half sovereigns listed on 30 day auctions on Ebay but listed a few weeks ago, a few are cheaper than you can get a bullion half sovereign for now, Atkinsons are £120 as of right this moment.

[sovereignsteve]

18 minutes ago, Paul said:

 

Just this time yesterday we were at £824 =  £868 today   ( +5.35% / £+44.11 )

Better than a years worth of fiat interest earned in the bank, made in a day with a 'barbarous relic'  

up 23% since the 15th december

[Paul]

11 minutes ago, sovereignsteve said:

I bought some Krugs about 6 weeks ago for around £725, would cost me £894 now.

I remember seeing that x3 set of 2003 Britannia fractionals on atkinsons when they were priced at borderline £700, and thought I will pass as it worked out quite a high price compared to spot back then a few months back.  

They are now £121 over that price, I thought was overpriced

[HelpingHands]

Don't worry there is bound to be another smack down.

[sovereignsteve]

buy on dips.

[DRooster]

7 hours ago, Paul said:

 

Just need it to rise another £85 to get back to break even  

Hell yeah, there's no doubt it'll see your break-even and give you enough time to make a profit before your 90'th birthday.

Definitely.

[KDave]

Just watched Janet Yellen say she was 'surprised' about continued low oil prices, negative interest rates and recent foreign currency devaluations - aka she has not got a clue what she is doing. Makes me wonder if she will come to the markets rescue/smash gold this time round and if she does will people even take the bait? Combine the FED's incompetence, a confirmed technical bear market in stocks, negative interest rates and low bond yields with 'gold is the best asset of 2016' headlines and it looks like this year could be a bit different for gold. Gold hit £872 earlier which is higher than the peak of last year and last year it started from a higher price point. The chart since December is impressive.

I'm not buying any more at these prices though I have been spoiled by £731 an ounce delivered. I do miss £700 gold. There's still a central bank's chance we will see it again before the year is out though, still some hope left 

[sovereignsteve]

Economists by definition know absolutely FA about real world economics. To call it a science is insulting to the real sciences.

I just can't understand how on earth anyone in their right mind, based on all the evidence you can find, can actually believe a word that economists utter. To put all the power in their hands is sheer madness. There again some people believe that politicians have all the answers and are actually good guys!

[DRooster]

Steve has teh correct, as they say.

[HawkHybrid]

chinese stock market is closed until friday.

anyone reckon gold will continue it's rise into next

week?

 

HH

[Lindeman]

So can I ask the obvious question: are any of us actually selling our gold at these prices? Or are two factors holding us back - the feeling/hope that the price will shoot even higher,  or second, that we are actually collectors and too attached to sell? 

I am basically kicking myself for not having backed up the truck in the autumn of 2015 (when £750 seemed expensive / ounce!). eBay is notorious for not really reflecting spot ..so there may still be some real value available right now. That's my thought anyway. 

[Stu]

I feel reassured that PM's has got my back covered at the moment. I have accumulated the core stack that I wanted and neither want to buy or to sell at these prices.

i think if prices did go mental e.g. X200 upward I would be tempted to sell some, but only a small percentage at a time. I am in this for the long haul (famous last words) 

[sovereignsteve]

39 minutes ago, Lindeman said:

So can I ask the obvious question: are any of us actually selling our gold at these prices? Or are two factors holding us back - the feeling/hope that the price will shoot even higher,  or second, that we are actually collectors and too attached to sell? 

I am basically kicking myself for not having backed up the truck in the autumn of 2015 (when £750 seemed expensive / ounce!). eBay is notorious for not really reflecting spot ..so there may still be some real value available right now. That's my thought anyway. 

I see no point in selling at these prices unless you need the money for something else or you're convinced the price will tumble again and let you buy back cheaper.

With the way things are geo-politically and economically, gold either still has a long way to go upwards or we will see lower prices to buy at before it goes up.

[simon13]

Chinese New Year having an effect?