Gold Monitoring Thread £ GBP only

[Stacktastic]

20 minutes ago, Paul said:

Some might be shaken out if BTC given this volitality this week and prefer gold

My friend is down 12k today. I told him to sell last week, but he bought a Harley with some of his profits, thats more than I have managed this year LOL. 
Considering a lot of crypto investors are buying it with savings yes your right. 
I bet there are a lot of people who bought at 25-30k seriously considering liquidating,
but are holding on to that £100k predictions & wished they had sold at 60k!! 

Or the people whop bought at 50-60k and had no stops in place considering jumping off a bridge.
Myself included (I own Argo at -65%) Or just removing what they can and investing it elsewhere. 

I personally think we will see one huge rally and then it will crash and burn, potentially for years. 
Thats what I hope anyway - cash is ready to be deployed to day trade it on the way up and invest when it bottoms.
I have made so many bad moves this year (my first year trading) i intend to make up for it at some point.

Edited May 19, 2021 by Stacktastic

[LawrenceChard]

On 05/04/2021 at 15:37, sixgun said:

Fiat bank notes are only worth anything if someone believes they are and they will accept them in payment for whatever it is.

They are still mainstream, and very useful.

Try buying your groceries with gold, silver, platinum, or a crypto currency. Theoretically it might be possible, but it might not be easy, and your choice might be restricted.

Although, for larger purchases, such as a car, you may not be able to pay in actual cash because of AML rules.

So, there is still use for Fiat Currency:

🙂

[sixgun]

37 minutes ago, LawrenceChard said:

Try buying your groceries with gold, silver, platinum, or a crypto currency.

This is quite possible now the gold and silver have been digitised and are spendable with a card - Glint and Kinesis are examples.

[HawkHybrid]

24 minutes ago, sixgun said:

This is quite possible now the gold and silver have been digitised and are spendable with a card - Glint and Kinesis are examples.

if you have to convert it to fiat currency first in order to buy something it's not exactly buying

in gold or silver is it? it's not like they are pricing goods and services everywhere in grams/toz

of silver.

 

HH

[Stacktastic]

1 hour ago, LawrenceChard said:

So, there is still use for Fiat Currency:

Yep wait for the collapse & buy 4-12% solid dividend stocks at record low prices 

Edited May 19, 2021 by Stacktastic

[LawrenceChard]

53 minutes ago, sixgun said:

This is quite possible now the gold and silver have been digitised and are spendable with a card - Glint and Kinesis are examples.

I did say " Theoretically it might be possible, but it might not be easy, and your choice might be restricted.", which I believe is perfectly valid, even though I was mainly having a little fun with the "Fiat" pun.

[KevjustKev]

15 hours ago, Paul said:

Wish gold would one time peak at $63,000 i could retire then !  

I could retire again, or buy 37 houses in Hull.

Thought is was more funny than my other answer?

Edited May 20, 2021 by tallthinkev

[GoldenGriffin]

£1,342... spot is slowly creeping up! 😜

Question is, will it come down again or are we on the road to a new baseline?

If we are, I'd have a guess at £1,500.

[Richym99]

Just gone back through $1900 US. 

When I started looking at gold prices not 3 months ago they were talking of gold dropping through $1700 and carrying on down.  

[Hunter87]

On 19/05/2021 at 16:38, Stacktastic said:

My friend is down 12k today. I told him to sell last week, but he bought a Harley with some of his profits, thats more than I have managed this year LOL. 
Considering a lot of crypto investors are buying it with savings yes your right. 
I bet there are a lot of people who bought at 25-30k seriously considering liquidating,
but are holding on to that £100k predictions & wished they had sold at 60k!! 

Or the people whop bought at 50-60k and had no stops in place considering jumping off a bridge.
Myself included (I own Argo at -65%) Or just removing what they can and investing it elsewhere. 

I personally think we will see one huge rally and then it will crash and burn, potentially for years. 
Thats what I hope anyway - cash is ready to be deployed to day trade it on the way up and invest when it bottoms.
I have made so many bad moves this year (my first year trading) i intend to make up for it at some point.

 

[GoldenGriffin]

Basel III UK implementation January 2022.

Indicates gold price increase.

Bank of International Settlements (BIS) holding vast amounts of gold.

Sounds like policy kicking in for a new baseline price...

 

 

Edited May 31, 2021 by GoldenGriffin
.

[Uksilverstackers]

16 minutes ago, GoldenGriffin said:

Bank of International Settlements (BIS) holding vast amounts of gold.

Yep so instead of paper contacts being dumped to control price it’ll be the BIS running the show.

My thoughts are, Basel III  must have been readied for implementation with agreement from all parties (whether they liked it or not) for years and you can bet your last bit of PM, it is for no-ones benefit other than TPTB.
 

[Spark268]

29 minutes ago, Uksilverstackers said:

....it’ll be the BIS running the show.
 

arguably it always has....

both gold and silver ending the month at $1900+ / $28 is a positive !!!

[Stacktastic]

On 30/05/2021 at 23:34, Hunter87 said:

 

Interesting indeed, I have seen a few other videos from this guy - really sharp. 

My gut instinct to just sell Cardano & Litecoin was correct, despite Cardano doubling in price. 

'Shady' sums all this up. 

[Spark268]

I've been shorting Doge, and buying Ethereum and have doubled my initial (tiny) investment, mostly for fun.

The platform (Binance) forces you to buy Tether (as a base for all these transactions) which is ostensibly equivalent to the dollar, because its owners promise to buy a dollar every time they sell a tether coin.  They've sold $64bln, going on overdrive issuing more coins as the NY attorney has began investing them in mid 2020. These new issuances coincide with jumps in the bitcoin price.

So Tether is a Ponzi scheme that feeds into all the other cryptos which are themselves glorified Ponzi schemes....about $2trillion's worth in total. Some coins and cryptos may have utility but their worth is being driven by the Charles Ponzi effect. Tether and the other stable coins will have to issue more and more to keep the crypto price stable, as people try to cash out.

This is exactly how the USD works vis a vis other fiat currencies.

How does this all relate to the gold price? Well gold is what you get when you cash in your chips at the casino

 

 

 

[Nick1368]

our yellow metal is looking damn good 🤩 

if it continues like this we should see £1500 by August , or maybe a new ALL TIME HIGH 

[Nick1368]

Very interesting to look at all time gold chart (50 years ) .

you can see three main events that lead to massive bull runs , the first one was the end of Gold standard by the US government in the 70s during which period gold jumped from $30 in 1970 to $700 in 1980 .

Then it just went flat for nearly 30 years at an average price of  $300 until the second event occurred which was the 2008 financial crises and a new bull run for Gold which pushed the price up to $1750 by 2011 and a new ATH for gold .

 

Now , when you look at the chart you can clearly see that the third bull run that started in 2018 was basically a continuation of the 2008 bull run with a period of consolidation in between and boosted by the pandemic , so my opinion is that gold was always on its way to the $2060 ATH that we witnessed last year , COVID only helped to speed it up .

 

so assuming gold would’ve reached $2000 without help from the pandemic , why on earth is it still under 2k after  huge damage to the world’s economy caused by the pandemic ? 
my understanding is that gold is massively undervalued at $1900 .

 

 

[Robda1986]

15 hours ago, Nick1368 said:

Very interesting to look at all time gold chart (50 years ) .

you can see three main events that lead to massive bull runs , the first one was the end of Gold standard by the US government in the 70s during which period gold jumped from $30 in 1970 to $700 in 1980 .

Then it just went flat for nearly 30 years at an average price of  $300 until the second event occurred which was the 2008 financial crises and a new bull run for Gold which pushed the price up to $1750 by 2011 and a new ATH for gold .

 

Now , when you look at the chart you can clearly see that the third bull run that started in 2018 was basically a continuation of the 2008 bull run with a period of consolidation in between and boosted by the pandemic , so my opinion is that gold was always on its way to the $2060 ATH that we witnessed last year , COVID only helped to speed it up .

 

so assuming gold would’ve reached $2000 without help from the pandemic , why on earth is it still under 2k after  huge damage to the world’s economy caused by the pandemic ? 
my understanding is that gold is massively undervalued at $1900 .

 

 

Not if the current hammering continues 

[EdwardTeach]

What's happening to gold and silver today?

It was flat for several hours then suddenly dropped off the edge of a cliff. Something unusual must be going on.

[SilverJacks]

8 minutes ago, EdwardTeach said:

What's happening to gold and silver today?

It was flat for several hours then suddenly dropped off the edge of a cliff. Something unusual must be going on.

Unusual, yet rather usual 🤔

Silver spot price is getting less and less relevant by the day, for physical anyway. I wonder if at some point gold goes the same way and premiums start getting crazy.

 

[272]

18 minutes ago, EdwardTeach said:

What's happening to gold and silver today?

It was flat for several hours then suddenly dropped off the edge of a cliff. Something unusual must be going on.

35% drop in US unemployment rates announced about an hour ago?

[EdwardTeach]

I've just found this article which suggests it's due to Fed stimulus comments in the US.

https://finance.yahoo.com/news/gold-holds-near-five-month-012226634.html

Edited June 3, 2021 by EdwardTeach

[Stacktastic]

Biden has announced 15% minimum corporate tax. 
I have been expecting another hard pull back in metal as well as commodities/uranium,
so hopefully this will be the catalyst along with 'good' news about the economy reopening & a strong dollar. 

If the stocks get near the current lows, its high dividend stock buying season as far as Im concerned. 😛

https://www.reuters.com/article/us-usa-biden-infrastrucure-tax/biden-proposes-15-corporate-minimum-tax-1-trillion-new-infrastructure-spending-idUSKCN2DF1RK

Edited June 3, 2021 by Stacktastic

[Hunter87]

On 02/06/2021 at 22:24, Nick1368 said:

our yellow metal is looking damn good 🤩 

if it continues like this we should see £1500 by August , or maybe a new ALL TIME HIGH 

If it does go that night I wonder will dealers buy buying from people or only selling there own stock. 

[Nick1368]

17 minutes ago, Hunter87 said:

If it does go that night I wonder will dealers buy buying from people or only selling there own stock. 

are you joking or being serious ? of course they buy , dealers always buy from people regardless of the price of gold , that's what they are there for , they buy a little bit under spot and sell a little bit over spot .

in September 2020 I sold almost half of my stack ( nearly 20 oz) , almost 10 oz was sold here on the forum and another 11-12 oz sold to sharps Pixley all in one go at £1520 per oz , money was in my account in 30 minutes .