Gold Monitoring Thread £ GBP only

[Midasfrog]

Todays high £1300 and todays buying chance low £1267 😄

Sovereign spot price £299 👍

Edited September 23, 2021 by Midasfrog

[Stacktastic]

1 hour ago, Midasfrog said:

Todays high £1300 and todays buying chance low £1267 😄

Sovereign spot price £299 👍

What dealer? Its 1271 now and its £320 from most of the dealer I can see?
I will buy a few for £300.  

Or is that without premium??

Who thinks we will see a move to £1220's or is this the last bounce??? 
Might buy a few just in case. 

Edit - bought 3 from S-Pixley £319 - thats my purchase price maximum. 

just looked at the 6 month chart it really is starting to look bearish to be fair.
Might just be worth waiting for £900 gold and back up the truck with 1ounce brits LOL. 

Edited September 24, 2021 by Stacktastic

[CaptCaveMan]

I bought some Sovs on last weeks dip so couldn't afford yesterdays, any idea of the reasons behind it?

[Stacktastic]

56 minutes ago, CaptCaveMan said:

any idea of the reasons behind it?

No idea. 
Dollar is down making it cheaper to buy on foreign markets.
Bond yields are down & unemployment figures are also c**p - go figure. 

 I think its related to the tapering & scale back stimulus.
Might be moves on the paper trading markets as its dropped when the US opened for business. 
The drop in the evening may have been a reaction from Asia? Im no expert complete guess that.

Might be futures expiring also? i think thats today isnt it? Maybe a combination of the two?? 

Edited September 24, 2021 by Stacktastic

[Midasfrog]

The Chinese real estate giant Evergrande being on the brink of collapse has had a big effect on Cryptos might also account for the dip in gold price on the 9th August ?

Evergrande is the most indebted company in the world owing more than $400 billion in various forms 

Edited September 24, 2021 by Midasfrog

[Zhorro]

10 hours ago, Midasfrog said:

The Chinese real estate giant Evergrande being on the brink of collapse has had a big effect on Cryptos...

Evergrande is the most indebted company in the world owing more than $400 billion in various forms 

The fall in cryptos was because "China expanded its escalating crackdown on cryptocurrencies on Friday when its central bank declared that all activities related to digital coins are “illegal” and must be banned."

https://www.zerohedge.com/markets/china-declares-all-virtual-currency-transactions-illegal-sending-crypto-prices-tumbling

There is a thread on the Forum relating to Evergrande.

[Stacktastic]

3 hours ago, Zhorro said:

“illegal” and must be banned."

I was at a fuel pump yesterday and a guy on a scooter was behind me
we both acknowledged the crazy panic buying, which ironically we were also part of. 

He was talking about fuel prices & mentioned he has made £14k profit on Cardano (good for him) this year. 
But when you go anywhere near the topic of it being banned they just dont or cant believe that it is possible.
I certainly think it is and it will happen when the CBDC's get rolled out. 

He then said 'I also have 7oz of gold i bought at £700' to which I said 'damn I hope when im as old as you I get it sussed' - luckily he laughed.

Edited September 25, 2021 by Stacktastic

[dicker]

Gold in a new “band” boringly bouncing around a range after its fall back from 1300z

[Coverte]

On 25/09/2021 at 10:24, Stacktastic said:

He was talking about fuel prices & mentioned he has made £14k profit on Cardano (good for him) this year. 

He then said 'I also have 7oz of gold i bought at £700' to which I said 'damn I hope when im as old as you I get it sussed' - luckily he laughed.

Yes, we saw that 2 decades ago; albeit in different guise/s.

Those were the sort of profits being enjoyed in the dot com boom, but then came the subsequent crash.

My late father (who was experienced in buy/sell stocks/shares) and I had no idea of the mechanics of what was going on, but made a killing before getting out.

That's why I now only now have BTC, as they were only in 3 figures when the guys on another platform were raging about them many years back; so I gambled a bit on something on which I could afford to lose.

I'm still more confident on gold as insurance however, only death will prize that from my then cold clutches...........

Edited September 27, 2021 by Coverte

[Tn21]

£1300+ 🙌🙌🙌

[Stacktastic]

57 minutes ago, Tn21 said:

£1300+ 🙌🙌🙌

Yay - I have not had time to looking it, but I think its related to a change in pension funds or something over the pond? 
Its annoying as it could drag silver with it.

[Midasfrog]

14 minutes ago, Stacktastic said:

Yay - I have not had time to looking it, but I think its related to a change in pension funds or something over the pond? 
Its annoying as it could drag silver with it.

Next Monday £1275 again probably 🤣

[Minimalist]

2 hours ago, Tn21 said:

£1300+ 🙌🙌🙌

£1,200 next week.

[dicker]

Gold at 1304.  

As usual, the market participants, commentators all change their tune when there is any sort of significant price movement.

It would be refreshing for someone to ignore the candlesticks, bull / bear predictions  and simply say “I gave you my forecast 2 years ago and that stands regardless of todays price action.

 

 

 

[Minimalist]

Price will push it down when this infrastructure bill gets passed. The Fed will say the dollars the strongest its ever been.

[Bigmarc]

1 hour ago, dicker said:

Gold at 1304.  

As usual, the market participants, commentators all change their tune when there is any sort of significant price movement.

It would be refreshing for someone to ignore the candlesticks, bull / bear predictions  and simply say “I gave you my forecast 2 years ago and that stands regardless of todays price action.

 

 

 

What was your forecast? Wasn't here then.

[dicker]

I have always maintained that it is impossible to predict short or medium term.  I haven’t predicted a long term numbe for Gold, but have predicted that it is a long term hold. 

[Tortoise]

2 hours ago, dicker said:

Gold at 1304.  

As usual, the market participants, commentators all change their tune when there is any sort of significant price movement.

It would be refreshing for someone to ignore the candlesticks, bull / bear predictions  and simply say “I gave you my forecast 2 years ago and that stands regardless of todays price action.

 

Hi @dicker 

I think you might enjoy the book Super Forecasting by Philip Tetlock.  Your comment made me think of it, since they went and compared forecasts with outcomes.    I found it to be a really good read.  

Not that I am anything other than an ordinary forecaster myeself.

[dicker]

1 minute ago, Tortoise said:

Hi @dicker 

I think you might enjoy the book Super Forecasting by Philip Tetlock.  Your comment made me think of it, since they went and compared forecasts with outcomes.    I found it to be a really good read.  

Not that I am anything other than an ordinary forecaster myeself.

Many thanks! Will order and read.  Many thanks

[Midasfrog]

Looking back over the last few years am I correct in thinking gold drops towards the end of the year Oct Nov Dec then regains ground from January. 

October and November might see some good buying chances 🤞

[CaptCaveMan]

Whoa! £1,314 - where did that come from?

[GrahamDiamond]

13 minutes ago, CaptCaveMan said:

Whoa! £1,314 - where did that come from?

Inflation Coinster !!

[Bumble]

On 30/09/2021 at 21:18, Midasfrog said:

Looking back over the last few years am I correct in thinking gold drops towards the end of the year Oct Nov Dec then regains ground from January. 

October and November might see some good buying chances 🤞

Only just saw your post, Midas. Yes, there are seasonal variations with the gold price, and Oct-mid-Dec is usually weak, while mid-Dec-Feb is usually strong. The latter is because of seasonal demand in the Far East because the Chinese New Year is a time when people give gifts of gold. The former is partly due to weak demand and partly because in the USA and many countries, the tax year is the same as the calendar year, and the end of year is a time to sell things in order to manage your capital gains/losses for the year.

That said, the last two years have been highly atypical, because of the virus. We had an unusual strong run up in Jun-Jul 2020, and prices have been drifting down ever since. The other big difference is that gold is now competing with cryptos for safe haven money. If the current run-up in cryptos were to end, gold could benefit greatly. But 50% retrenchments in crypto are not unusual and do not scare people away.

[HawkHybrid]

1 hour ago, CaptCaveMan said:

Whoa! £1,314 - where did that come from?

manipulation 

 

1 hour ago, Bumble said:

Yes, there are seasonal variations with the gold price, and Oct-mid-Dec is usually weak, while mid-Dec-Feb is usually strong.

 

HH

[Stacktastic]

On 13/10/2021 at 18:04, HawkHybrid said:

manipulation 

Im so fed up with this I sold all my gold stocks today!!
I have literally had enough now & think there are better avenues to invest.
I have more than enough physical to weather me in a storm. 

FCUK the PM markets its crazy. 
I shall catch it when it starts moving again. Im out. 

Edited October 15, 2021 by Stacktastic