Gold Monitoring Thread £ GBP only

[Geovest]

A lesson of life, not all acorns grow into mighty oaks, some shrivel up into really tiny acorns 😂

[Stacktastic]

On 11/08/2021 at 16:44, HerefordBullyun said:

I am willing to wager anyone a Oz of silver they don't get raised in 2022.

I concur. They cant afford that. 
Plus i have a fixed rate mortgage running out mid 2022 also.

2% fixed for 10 years - yes please. I thought 2.3% was good five years - I was wrong LOL 
I dont care if the rate stays at 1% for 5 years thats great peace of mind, especially as Im taking a chunk out of the house to sit on cash & wait. 
The everything bubble has to pop at some point?? 

10 hours ago, HerefordBullyun said:

Just continue to stack slowly any quietly. You will be amazed how much you accumulate in time.

I read the book you recommended on the compound effect - its amazing reallyhow just a small stack of SOV's build up when bought often enough. Really helped me that did as I am now aligned to decent solid dividend stocks and other such instruments. 

Edited August 13, 2021 by Stacktastic

[dicker]

Gold continues the time honoured tradition of fast down then slowly up again.  1271 this morning.  

[SidS]

2 hours ago, dicker said:

Gold continues the time honoured tradition of fast down then slowly up again.  1271 this morning.  

That's because it's so heavy... 😉

I'll get my coat.

[Uksilverstackers]

3 hours ago, dicker said:

Gold continues the time honoured tradition of fast down then slowly up again.  1271 this morning.  

Yeah, have seen quick V shaped recoveries in the past from that type of drop, but this doesn’t seem to be happening and price is very slow to pick up in the paper market, maybe paper buyers are getting out/wary due to maybe Basel III. 
 

So, hypothetically (at the moment), lets say Basel III makes the paper market “difficult” and participation declines, I guess physical pricing will transit away from futures and will be priced using a mechanism more like the Shanghai Gold Exchange?

[dicker]

My guess is that it was dump paper to buy buy physical…..

[Uksilverstackers]

Andrew McGuire gives some techy insight on his perception of the smackdown for anyone that may be interested.

 

Live from The Vault

[HarryK]

Watched this earlier today.. Twice actually.. The level of detail and complexity is mind boggling. Kudos to him. 

[Bigmarc]

I generally try to avoid all YouTube vid when dealers are involved but was intrigued this time as I have been recently been looking into kineses. Yes he did have quite a few interesting points and will watch a few more of his vids. I quickly looked him up as he is British, he runs a company called gold star global, which seems tied in to kinesis, kind of enjoying as the only reason I didn't go with them is that they don't accept the British pound. 

[Martlet]

9 hours ago, dicker said:

My guess is that it was dump paper to buy buy physical…..

I dont think so, there's no market open that early to take advantage of the lower price, not in that sort of quantity.  By the time the Asia markets open properly, half the fall has recovered.  Either way risky strategy for a 4-5% drop.

Meanwhile there was bad data out of China over the weekend and the large US Infrastructure Bill going through, oil also dropped (only 2% mind).  Maybe someone just wanted to exit gold. 

[sixgun]

19 minutes ago, Bigmarc said:

I generally try to avoid all YouTube vid when dealers are involved but was intrigued this time as I have been recently been looking into kineses. Yes he did have quite a few interesting points and will watch a few more of his vids. I quickly looked him up as he is British, he runs a company called gold star global, which seems tied in to kinesis, kind of enjoying as the only reason I didn't go with them is that they don't accept the British pound. 

Goldstar Global is linked with the Allocated Bullion Exchange. i have an account with him to give me assess to the ABX. 

The ABX is a separate company to Kinesis. The ABX is the wholesale bullion end of the process - it is the Mint ( https://mint.abx.com ). The webpage appears as Kinesis Mint but in reality it is an ABX interface. Kinesis runs the Exchange - the KMS (Kinesis Money System) https://kms.kinesis.money.

Personally i always use USD. You can deposit GBP into your KMS account and buy KAU and KAG with Sterling but i always use USD - the market is much bigger and more liquid. I send USD to the ABX bank accounts in Australia using wise.com (transferwise of old). It doesn't cost much to exchange into USD and is cheaper than using a UK bank. If i am sending the cash to the Mint it needs to be in USD.

Edited August 13, 2021 by sixgun

[Bigmarc]

15 minutes ago, sixgun said:

Goldstar Global is linked with the Allocated Bullion Exchange. i have an account with him to give me assess to the ABX. 

The ABX is a separate company to Kinesis. The ABX is the wholesale bullion end of the process - it is the Mint ( https://mint.abx.com ). The webpage appears as Kinesis Mint but in reality it is an ABX interface. Kinesis runs the Exchange - the KMS (Kinesis Money System) https://kms.kinesis.money.

Personally i always use USD. You can deposit GBP into your KMS account and buy KAU and KAG with Sterling but i always use USD - the market is much bigger and more liquid. I send USD to the ABX bank accounts in Australia using wise.com (transferwise of old). It doesn't cost much to exchange into USD and is cheaper than using a UK bank. If i am sending the cash to the Mint it needs to be in USD.

Thanks. I miss read the web page. Thought the only way I could use the platform was with the supported currency's. Didn't realize they were a exchange too. 

I will look into it again. There are a few on these companies around now but kinesis seem to be the most professional.

[sixgun]

8 minutes ago, Bigmarc said:

Thanks. I miss read the web page. Thought the only way I could use the platform was with the supported currency's. Didn't realize they were a exchange too. 

I will look into it again. There are a few on these companies around now but kinesis seem to be the most professional.

You do need to use the supported currencies USD / EUR / GBP / BTC / LTC / USDT / ETH / BCH (there is no XRP at the moment).
It is called the Kinesis Exchange - it is where KAU and KAG are traded. It is a trading platform and the part where the trading occurs is called the Exchange. 
When i am buying KAU / KAG i generally use USD. i send my GBP / EUR to wise.com - change it into USD and send to the ABX bank accounts in Australia. They are also using an Indonesian bank for a variety of currencies but i use what has worked for me and i am used to.

Edited August 13, 2021 by sixgun

[Martlet]

2 hours ago, Uksilverstackers said:

Andrew McGuire gives some techy insight on his perception of the smackdown for anyone that may be interested.

 

Live from The Vault

Worth noting the narrative around Basel III is invalidated as its been delayed a year. 

[HarryK]

34 minutes ago, Martlet said:

Worth noting the narrative around Basel III is invalidated as its been delayed a year. 

He also makes some very insightful comments on Basel lV. 

[HerefordBullyun]

8 minutes ago, HarryK said:

He also makes some very insightful comments on Basel lV. 

Is he saying that Basel IV will be as much use as Basel III LMBA will push back again like thy have with III 

[Martlet]

23 minutes ago, HarryK said:

He also makes some very insightful comments on Basel lV. 

Not really, he makes some exaggerated interpretation, then wanders off into batland theories. 

[dicker]

1283 - not bad given the start of the week.

[Midasfrog]

As Kabul falls will gold rise sharply ? Could be an interesting few weeks ahead £1300 and beyond  

[Foster88]

6 minutes ago, Midasfrog said:

As Kabul falls will gold rise sharply ? Could be an interesting few weeks ahead £1300 and beyond  

I too have wondered if this would have an affect on the gold price.

[AuricGoldfinger]

Wish i was in the market to buy some when it hit £1250! But if it hits £2000 I won’t be complaining lol

[Martlet]

48 minutes ago, Midasfrog said:

As Kabul falls will gold rise sharply ? Could be an interesting few weeks ahead £1300 and beyond  

Probably, gold reacts to events, so expect a short spike. 

[dicker]

Gold in GBP nearly at the level before the flash crash. 1298

[sixgun]

Interesting chart Precious Metal / Industrial Metals - so the lower the ratio the relatively stronger industrial metals are.
i also note the low RSI
Historically precious metals have rallied strongly from these levels - or industrials could fall a lot.

[Stacktastic]

3 hours ago, sixgun said:

Interesting chart Precious Metal / Industrial Metals - so the lower the ratio the relatively stronger industrial metals are.
i also note the low RSI
Historically precious metals have rallied strongly from these levels - or industrials could fall a lot.

My stock picks last week are starting to look like a short term car crash, but I am confident on a good rally within year end.
As Rick Rule says - its good if they keep going down as long as your confident you have bought cheap & understand the stock. 

Palantier buying it and Kitco actively warning people its going to crash to £1200 makes me even more bullish. 
Got to get this week out of the way with this fed stuff. 

Edited August 22, 2021 by Stacktastic