Gold Monitoring Thread £ GBP only

[dicker]

Most people on TSF could have written that…many months ago!

All very obvious to most of us.

Best

Dicker

[AuricGoldfinger]

I’ve been getting FT Weekend aswel lately as found the telegraph a little repetitive. I guess it’s like anything - interesting reading but usually written with a specific bias. Something else I enjoy is a blog called Monevator. (Sorry @dicker, drifting off subject again lol)

[HerefordBullyun]

19 minutes ago, Spark268 said:

unfortunately the telegraph has been a contra-indicator of late; two years ago they said gold was a silly investment.

Did you see the piece in their investing column, Questor, citing losses in 2021...

https://www.telegraph.co.uk/investing/shares/questor-failed-make-profit-year-mistake-not-backing-britain/

 

well nothing surprises me with any mainstream part of state controlled psyops.

[Spark268]

what might prove a drag to gold prices is equity volatility for the second half of the year, and silver may be hit harder. it should only be temporary though and should be another buying opportunity. premiums are coming down also...

[HerefordBullyun]

36 minutes ago, Spark268 said:

what might prove a drag. to gold prices is equity volatility for the second half of the year, and silver may be hit harder. it should only be temporary though and should be another buying opportunity. premiums are coming down also...

silver will be hit harder, casing point look at first majestic share price. If gold getsspanked all miners will to regardless but some bargains to be had

Edited July 18, 2021 by HerefordBullyun

[dicker]

1330….I suspect some BTC flow switching to gold.  
 

Gold, not “digital gold”

[Midasfrog]

Concerns over spreading coronavirus in Asian countries , Dow falls more than 700 points in the worst day since October. 

"Dow falls biggest drop of the year as Delta variant fears hit Wall Street Hard " 

I can see gold reaching new highs this year as countries with low vaccination numbers crumble under the stress of lockdowns and rising case numbers . Thailand being a prime example .

£1400 spot price in August ?

[goldmember44]

48 minutes ago, dicker said:

1330….I suspect some BTC flow switching to gold.  
 

Gold, not “digital gold”

If I had BTC, I would have done just that now. Gold seems to be gearing up for a substantial bull run. Perfect entry point. 

[goldmember44]

2 minutes ago, Midasfrog said:

Concerns over spreading coronavirus in Asian countries , Dow falls more than 700 points in the worst day since October. 

"Dow falls biggest drop of the year as Delta variant fears hit Wall Street Hard " 

I can see gold reaching new highs this year as countries with low vaccination numbers crumble under the stress of lockdowns and rising case numbers . Thailand being a prime example .

£1400 spot price in August ?

The real panic is actually because the virus seems to be hitting high numbers who are fully vaccinated. That is what is freaking them out... 

[swanky]

1 hour ago, Midasfrog said:

"Dow falls biggest drop of the year as Delta variant fears hit Wall Street Hard " 

"X happens as Y happens" - always ignore these headlines, they are trying to make you draw the link.

If there's any issue with Delta, it isn't that it appears to be infecting vaccinated people but that new strains are becoming more virulent not less. Infecting vaccinated is explained by delayed antibody response - it takes a few days for memory cells to ramp up, so infections aren't prevented but illness is for most people.

Edited July 20, 2021 by swanky

[SidS]

Just a thought, but if average gold sales are down in India due to restrictions and lockdowns, does it not also follow that other eastern cultures, where gold is equally valued, might also have other priorities than buying gold? If disposable income is down too potentially, then income will be spent on food/shelter etc.

If anything I see gold going sideways.

[Midasfrog]

11 minutes ago, SidS said:

Just a thought, but if average gold sales are down in India due to restrictions and lockdowns, does it not also follow that other eastern cultures, where gold is equally valued, might also have other priorities than buying gold? If disposable income is down too potentially, then income will be spent on food/shelter etc.

If anything I see gold going sideways.

Gold was 4% up in Thailand this week , maybe due to multiple business failures , money be pulled out of property and put into gold.

[SidS]

57 minutes ago, Midasfrog said:

Gold was 4% up in Thailand this week , maybe due to multiple business failures , money be pulled out of property and put into gold.

Clearly I stand corrected! 😀

If this is mirrored more widely then yes I can see pressure building on the gold price.

[Martlet]

2 hours ago, SidS said:

Just a thought, but if average gold sales are down in India due to restrictions and lockdowns, does it not also follow that other eastern cultures, where gold is equally valued, might also have other priorities than buying gold? If disposable income is down too potentially, then income will be spent on food/shelter etc.

If anything I see gold going sideways.

Not only not buying but selling metals. That is why they buy it in the first place, to sell in tougher times.  

[dicker]

A nice uptick with gold hitting 1340....

May guess is (as above) flows from BTC > Gold and Stock & Bonds to gold after a decent sell off of stock yesterday.

[Uksilverstackers]

3 hours ago, dicker said:

A nice uptick with gold hitting 1340....

May guess is (as above) flows from BTC > Gold and Stock & Bonds to gold after a decent sell off of stock yesterday.

That is one way of looking at it.

My take is that on 16 July at 4am there was a sell off, Gold was round £1319 but it only got it down to £1310 and its bounced back up, which  would’ve been prior to yesterday. Silver got hit big time though and still is (smaller market?). Was the plan to hit both Gold and Silver, who knows 🤔
 

I just think something is struggling to get Gold where they want it (down) to deflect the huge inflation issue. Will Silver drag Gold down or will Gold lift Silver? We wait and see.

I know nothing 🤪 and there are some very knowledgeable people who may have a more definitive outlook.

[Stacktastic]

10 hours ago, goldmember44 said:

The real panic is actually because the virus seems to be hitting high numbers who are fully vaccinated. That is what is freaking them out... 

Its not a vaccine. They have never isolated c-19.
Even if it is it (im no expert epidemiologist) it clearly does not work properly for what it was designed for.
Thats for another thread. 

Im in on 2 mining stocks. Not a lot, but it will go lower I think - but it looks promising on the upside. 
Even if it goes to $900 the macro says otherwise at some point in the next 10 years,. 
I might double or even triple my position & sell if it reaches good gains this year. 

India is starting to buy again & bond yields have gone down - plus the above. 
Might be a false break out & really trick people. 

Edited July 20, 2021 by Stacktastic

[Coverte]

No reason to panic IMO, just a good opportunity for those so inclined to maybe buy a little at the lows.

It's around 13 years now it was globally decided the way to deal with what was essentialy a bank credit crisis buy extending babks even more credit, so the best solution IMO is simply to keep some money aside to take advantage of the global crisis when this whole facade finally reaches an inevitable and for many, painful conclusion.

[dicker]

1330. A stable level

Edited July 20, 2021 by dicker
Typo

[Nick1368]

1 hour ago, dicker said:

1330. A stable is level

I am really happy with this number , hopefully it won't go down like last time  when it reached £1340 followed by a big sell off and down all the way to £1260 .

[Mikew140]

2 hours ago, Nick1368 said:

I am really happy with this number , hopefully it won't go down like last time  when it reached £1340 followed by a big sell off and down all the way to £1260 .

Am quite new to stacking gold/silver in fact any investments really only started this year as I earn a decent wage probably above average, but have always just spent what I earn on whatever, now I get to spend and save at the same time🙂

 

My question is why wouldn’t you want the price to come down a touch more say to £1260? I sort of Understand why you don’t want it to go sub £1000 or lower. are you done stacking and waiting to sell would it not be good to drop a touch more and buy some more? 

[kimchi]

3 hours ago, dicker said:

1330. A stable is level

1328. The westward crow finds home easily.

[Midasfrog]

21 minutes ago, Mikew140 said:

Am quite new to stacking gold/silver in fact any investments really only started this year as I earn a decent wage probably above average, but have always just spent what I earn on whatever, now I get to spend and save at the same time🙂

 

My question is why wouldn’t you want the price to come down a touch more say to £1260? I sort of Understand why you don’t want it to go sub £1000 or lower. are you done stacking and waiting to sell would it not be good to drop a touch more and buy some more? 

All the time your buying and all the time its rising = all the time your gaining 😀

[kimchi]

On 18/07/2021 at 20:47, AuricGoldfinger said:

I’ve been getting FT Weekend aswel lately as found the telegraph a little repetitive. I guess it’s like anything - interesting reading but usually written with a specific bias. Something else I enjoy is a blog called Monevator. (Sorry @dicker, drifting off subject again lol)

A great mate at school has been Economics Editor at one of the broadsheets for a few years now, which is pretty funny really as he didn't study Economics! He did go to Cambridge though, I suppose that's all you need? 🤣

[Mikew140]

3 minutes ago, Midasfrog said:

All the time your buying and all the time its rising = all the time your gaining 😀

Yeah I suppose your right 🙂  if it only ever went one way, but unless your looking to get out when it hits a price or not stacking no more then surely you wanna buy on dips bringing your average down = more profits?