Gold Monitoring Thread £ GBP only

[stackerp5]

35 minutes ago, Michal said:

They "struggle" to get inflation of 2% but my shopping basket went up ~15%. No point of holding cash now IMHO. 

Cut them %points off by becoming more Self-sustainable - buy a couple of potato and carrot grow bags, some heirloom seed or organic non GMO spuds and carrots. Basil when planted right can spread like vermin lol

I'm planning to work on developing a hydroponics system and a water collection and distillation system  

A bit of an initial investment here and there which provides with lifelong support!

* I know this isn't related to the gold thread so apologies. But what I do in all of this is put at least 5% of monthly earnings into gold, part of the gold gets reserved to pay for these projects when they come up  

[sixgun]

i see the unallocated metal debacle is expanding.
Now Peter Schiff has been outed - selling unallocated metal at Perth Mint and we know there isn't the metal

https://www.reddit.com/r/Wallstreetsilver/comments/mrtkb7/peter_schiff_supposed_hero_of_the_gold_and_silver/

Edited April 16, 2021 by sixgun

[Kman]

I posted a while ago I was short-term negative on gold until it broke out of this downward channel, looks like its threatening to

If it does I will change my Kman rating from negative to neutral 

If it can establish back above the 200 day moving average which is about 6% away I will turn to positive 

 

[Spark268]

2 hours ago, sixgun said:

i see the unallocated metal debacle is expanding.
Now Peter Schiff has been outed - selling unallocated metal at Perth Mint and we know there isn't the metal

https://www.reddit.com/r/Wallstreetsilver/comments/mrtkb7/peter_schiff_supposed_hero_of_the_gold_and_silver/

Schiff is probably the most vocal gold bug. he has not responded to these claims yet.

good price action of late

[Bars]

7 hours ago, SidS said:

I think we gold bugs often overlook a very important social point. I can only speak for the UK here by the way.

But I don't think most people think of gold as money. People know gold has value but it's generally viewed as simply jewellery, and a couple of old coins etc. I suspect many people are quite happy to liquidate it for what they consider 'real money' (fiat currency - ironically).

Bitcoin does something else, kind of like stocks/shares or a bank account of sorts. I guess people think of it as an investment vehicle, a quick shot to turn a profit, kind of like gambling/playing the lottery, money in the bank. I just think as a model it fits into what people expect of money in the modern world.

Perhaps the Keynesians have just been very successful at removing gold from its recognised role as real money, in the eyes of the majority of the population. They've clearly failed with us of course, but what percentage of the population think like we do, or can see gold for what it truly is?

This is of course is a cultural thing. Go to India and the situation is very, very different of course. Gold is and always has been valued.

It is often given as a wedding dowry by Muslims, particularly south asians like you highlighted. A lot of whom are unaware of what their gold is now worth in £££. 

[Martlet]

12 hours ago, GoldenGriffin said:

This is interesting too, pushing gold buyers towards crypto currencies and confirms digital currencies were discussed in the 90's.

Talks about sovereigns being exempt from having to hand in, or as he puts it "confiscated".

One of many channels I follow. 

 

Clutching at straws, people buying something else is not any sort of confiscation.  The risk profile, motivations and horizons for gold and crypto investments are very different.  There are a few that see crypto as a hedge to dollar inflation, a very small minority in market where most are interested in the tech, the decentralisation, or mainly number goes up. 

[Paul]

those worried of confiscation of any one asset type, have you accumulated wealth spread into multiple "stuff of worth" , it cant all be banned & confiscated

physical silver buried next to where your boating accident was, physical gold under your bed, allocated gold with bullionvault, allocated silver with goldmoney, physical cash in GBP £ safe despot box, physical cash in USD $$$$ at home in safe, physical swiss francs with your second passport, some fine art, some rolex in a second safe deposit box outside of UK, your max fiat cash in 100% backed premium bonds, £75,000 limit in a few UK bank accounts, some of your cash in stocks in UK, some in USA stocks, some in index linked sectors, buy a rare collectible classic car, some aged in demand whiskeys, a few sets of Beatles autographs, some 10 graded Charizard Pokémon cards, some original graded Una & Lion £5 gold pieces, some 22krt Indian jewellery, soem BTC, some ETH, even a punt in XRP or Doggin coin ! some Yeezy Ltd Trainers for good measure.  Heck even try finding a VW transporter van these days at a reasonable price       

the list goes on 

 

JUST DONT HAVE ALL YOUR EGGS IN ONE BASKETS with one asset class  

[dicker]

Well Au opening will be interesting.  
 

- Lots of Russian Air Force activity happening over the Black sea

- US Defense sec landed at Stansted this afternoon on E-4B Nightwatch 'TITAN25'

 

[HerefordBullyun]

6 minutes ago, dicker said:

Well Au opening will be interesting.  
 

- Lots of Russian Air Force activity happening over the Black sea

- US Defense sec landed at Stansted this afternoon on E-4B Nightwatch 'TITAN25'

 

Sabre rattling thats all! Seen it loads of times until the ruskies starting rolling tanks into ukraine thats when you want to watch the gold price go up! Edited if WW3 does kick off they aint calling me in - off the reserve list!

Edited April 17, 2021 by HerefordBullyun

[dicker]

Gold aiming at 1290...does it have the legs? Can it stick above 1290?   

[dicker]

Gold had the legs to get to 1292 just now I saw...not expecting it to stick there but fall back a little   

 

[Hunter87]

On 16/02/2021 at 09:42, OldNick said:

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?

I would say buy now if I had spare money I’d be buying sovs! 

[sixgun]

 

On 17/04/2021 at 17:45, HerefordBullyun said:

Sabre rattling thats all! Seen it loads of times until the ruskies starting rolling tanks into ukraine thats when you want to watch the gold price go up! Edited if WW3 does kick off they aint calling me in - off the reserve list!

Putin has warned the US and vassal states in his annual speech this year - don't feck around anymore or we will come down hard.
Russia is several decades ahead militarily. 
Lots of hints and now a clear warning.
It is sabre rattling for political optics. If Russia reintegrated the Donetsk region into the Russian Federation, the US wouldn't lift a finger.
Even some of the psychopaths in the Beltway know the US military is no longer the top dog.

[Stacktastic]

34 minutes ago, sixgun said:

 

Putin has warned the US and vassal states in his annual speech this year - don't feck around anymore or we will come down hard.
Russia is several decades ahead militarily. 
Lots of hints and now a clear warning.
It is sabre rattling for political optics. If Russia reintegrated the Donetsk region into the Russian Federation, the US wouldn't lift a finger.
Even some of the psychopaths in the Beltway know the US military is no longer the top dog.

And also China, but they own USA now apparently especially with the 'ohhh golly gosh we dont have any semiconductors - boohoo'.
I think the Russia and USA thing is just c**p to keep our eyes off what they are really doing.
Fine by me - 'russian dividend stocks at half price' Yes please! 

Edited April 26, 2021 by Stacktastic

[Spark268]

the GLD ETF has stopped bleeding assets, which should help support prices going fwd

[sixgun]

GLD is a scam ETF like SLV. At the end of the day it will be discovered there is no gold.

[GoldenGriffin]

Many people looking at 1 oz of gold, each thinking it's theirs.

I agree, a scam.

[dicker]

Not sure it’s a scam, but if I were going to do an “exit scam” this is the route I would choose.  
 

If any institutions are involved (in the loss of capital - embezzlement etc etc) you might be surprised what they do to recover their funds.  But my guess is that institutions are probably the least of your worries!

[GoldenGriffin]

GLD ETF and the likes might not look like a scam right now to some people, but when the time comes it'll be interesting to see how many investors lose out.

Watch this video from George Gammmon (from 3 minutes 30 seconds onwards) about GLD ETF and the custodian of the actual gold.

Didn't feel confident buying GLD before watching this, and after watching it, I'm definitely not participating in it.

 

 

Edited April 27, 2021 by GoldenGriffin
.

[Spark268]

The disclaimers in the prospectii for commodity ETFs are enough to put anyone off ! Look what happened to the USO oil ETF  last  year which collapsed.

However, the flows to the GLD can offer insight to general demand for gold from likely institutional investors (who are not allowed to hold physical gold), which can be correlated to the gold price.  The green's in the chart below do appear to occur before peaks, and selling after.

 

Edited April 27, 2021 by Spark268

[Stacktastic]

16 hours ago, sixgun said:

GLD is a scam ETF like SLV. At the end of the day it will be discovered there is no gold.

I see it as a trading vessel or at most amore liquid way to own gold in a certain situations. 
For example im in a war zone and need to travel.

It would get converted back to hard asset pretty sharpish though. 
SLV also. mining stocks are much nicer, especially dividend ones. 
Spent 3k on Fortuna yesterday. 😛

Edited April 27, 2021 by Stacktastic

[Spark268]

they are useful vessels in the short term, whilst the music is still playing

Fortuna - nice. It was down 17% after a merger announcement with Roxgold which was up 15%, I own about 1k in each.

[sixgun]

On 06/01/2020 at 23:37, Caratacus said:

There is an interesting video about China's position on gold and its likely ownership due to persistent accumulation   by Dominic Frisby   Money, Markets and other Matters   https://www.youtube.com/watch?v=70MhywXK2pg  

Another interesting video by Mr Frisby. My view has been for a little while has been that China has at least 40k tonnes of gold.

 

[dicker]

1308.  

[Paul]

On 01/05/2021 at 16:00, sixgun said:

Another interesting video by Mr Frisby. My view has been for a little while has been that China has at least 40k tonnes of gold.

 

interesting indeed. Dominic always gives a nice commentary & analysis