Gold Monitoring Thread £ GBP only

[SilvergunSuperman]

I have a gold itch needing scratched but paying circa £900/oz would be painful with my average currently at £813. I too am of the mind that. long term, it will be considered a bargain at £900 but it's just making me think that bit longer about it before hitting the button.

I think if it remains steady into next week I'll pull the trigger  as that will be a decent sign that these prices may be the new normal for the time being. You never know though as 'they' can make the price plummet with a few carefully-chosen words regardless of the fundamentals.

Silver is looking a decent shout too with the ratio at 80:1 currently.

[sovereignsteve]

There'll be a positive outcome from this weekends EU summit (or at least it will be trumpetted as such) so expect sharp moves in GBP and possibly gold. it certainly won't be a weekend where you want outstanding forex positions; could well be gaps all over the place.

[HawkHybrid]

http://www.gold-eagle.com/article/gold-price-update-15

 

' When we saw the gold price getting way ahead of its parabola, we liquidated our leveraged bull ETFs in the sector, only to look like jackasses 2 days later when gold spiked up by over $50.'

some refreshing honesty, instead of the constant stream of

'I predicted it correct right down to the zimbabwean cent'

 

HH

Edited February 22, 2016 by HawkHybrid

[whitesands1]

I noticed that there is quite a lot of weakness in the £ which is making prices higher. £ could stay under pressure with political shutdown with the referendum. 

I wonder if the recent blip will soon abate and the down turn continue.......?

 

[Paul]

another positive start for gold for the week - creeping up nicely (again!)

Is the 'mega smack down' button on the paper traders keyboards broken ?

This is most unusual

[whitesands1]

Who knows the secret?!  

I noticed that people are starting to go daft for silver (items) pricing in a continuing rise in the price.

£ weakness is partially fuelling the rise too!

[HawkHybrid]

http://www.gold-eagle.com/article/gold-c-wave-rally-intensifies

 

a big move coming up, there is actually a decent chance

that the swing is up.

 

HH

[Bumble]

One interesting thing is that whereas gold and USD usually move in opposite directions, recently they are both rising. That seems to suggest there is a safe haven thing going on.

[whitesands1]

The weakness in Sterling should keep UK Gold and Silver prices buoyed for a wee while.  

HSBC: Brexit could knock 20% off sterling

https://uk.finance.yahoo.com/news/hsbc-says-brexit-could-knock-083306292.html

[BaldyBob]

42 minutes ago, whitesands1 said:

The weakness in Sterling should keep UK Gold and Silver prices buoyed for a wee while.  

HSBC: Brexit could knock 20% off sterling

https://uk.finance.yahoo.com/news/hsbc-says-brexit-could-knock-083306292.html

Oh no, its the Brexit Bogeyman! Vote the right way sheep!

[Paul]

COULD - the key word - COULD

So the the flip side, that headline could be be read as 

HSBC : Brexit might not knock 20% off sterling 

[MCJ]

Or.

HSBC : Brexit probably won't knock 20% off sterling

[BaldyBob]

Or, a 20% reduction in overpriced sterling boosts exports.

[HawkHybrid]

1 hour ago, whitesands1 said:

The weakness in Sterling should keep UK Gold and Silver prices buoyed for a wee while.  

HSBC: Brexit could knock 20% off sterling

https://uk.finance.yahoo.com/news/hsbc-says-brexit-could-knock-083306292.html

' They reckon sterling could fall 15-20 percent against the dollar towards the lows of the mid-1980s, meaning it would move towards parity with the euro. '

 

there are two parties to every trade, I don't see how

the euro would not lose out on every £ - euro trade

that is lost.

 

HH

[morezone]

It's just climbing and climbing.  Not far off £900 now.  

[whitesands1]

7 hours ago, whitesands1 said:

The weakness in Sterling should keep UK Gold and Silver prices buoyed for a wee while.  

HSBC: Brexit could knock 20% off sterling

https://uk.finance.yahoo.com/news/hsbc-says-brexit-could-knock-083306292.html

Great fun, I always laugh at how serious the banks take themselves, if their forecasts were so good then why do they never spot banking collapses?

Although the rate was almost 1.42 in November and now is 1.26.

[Paul]

Does anyone think we are going to break through £900oz tomorrow ????.............hhhmmmmm

[Kman]

I'm considering selling an oz of gold

A year or so ago I bought a 1 oz 2009 gold Britannia for a premium at the time, total was about £830, have regretted paying a premium on a bullion 1 oz coin ever since 

I don't need the money at all, just seems like a good time to get my money back on my mistake and wait for spot to drop and put it into some numismatic gold that I will enjoy having

Hard to time isn't it, will gold be going up more? will it stay around this level for an extended period? are we likely to see under £800 again soon

Not sure of the point of this post.. just thinking out loud I guess  

 

[whitesands1]

11 minutes ago, Paul said:

Does anyone think we are going to break through £900oz tomorrow ????.............hhhmmmmm

Compulsive viewing, a live price feed on http://www.sharpspixley.com/

You can check price in £, Euro and Dollar.  Look like it's run out of steam for now, maybe tomorrow as you say...........???? 

[4Nines7Hills]

interesting forecast for GOLD and silver prices for 2016

 

[sovereignsteve]

15 hours ago, Kman said:

I'm considering selling an oz of gold

A year or so ago I bought a 1 oz 2009 gold Britannia for a premium at the time, total was about £830, have regretted paying a premium on a bullion 1 oz coin ever since

I don't need the money at all, just seems like a good time to get my money back on my mistake and wait for spot to drop and put it into some numismatic gold that I will enjoy having

Hard to time isn't it, will gold be going up more? will it stay around this level for an extended period? are we likely to see under £800 again soon

Not sure of the point of this post.. just thinking out loud I guess

 

If it's bothering you that much, now is a reasonable time to sell and get more than your money back. Or you could hold on and make a decent profit, or hold on and gold go down so you're back in negative territory and you'll have to wait even longer to exchange it for some nice sovereigns!

[Paul]

On 24/02/2016 at 09:08, whitesands1 said:

The weakness in Sterling should keep UK Gold and Silver prices buoyed for a wee while.  

HSBC: Brexit could knock 20% off sterling

https://uk.finance.yahoo.com/news/hsbc-says-brexit-could-knock-083306292.html

I would have thought that HSBC had more to worry themselves about than poking their nose into the Brexit issue.

Perhaps they should have poked their noses a little further into the Colombian & Mexican drug cartels laundering their money through their banks.

The USA fined them $1.3 billion for that

Not that it is anything new for HSBC, they founded the inital banks wealth in the from the 1700s facilitating the movement of opium from India to China, so business as usual

[Paul]

On 19/02/2016 at 12:51, Paul said:

Well as the dust begins to settle for the week and the markets come to close for the weekend

Looking back on this past week after a little turbulence down, we have still not had the mega smack down, and looks like we are going to end the week another bit higher and more positive 

1. Sat Jan 2nd 2015 - £720 (start of the year)

2. Sat Jan 9th - £760  (+£40 for the week)

3. Sat Jan 16th - £763 (+£23 for the week)

4. Sat Jan 23rd - £769 (+£6 for the week)

5. Sat Jan 30th - £784 (+£15 for the week)

6. Sat Feb 6th - £809 (+£25 for the week)

7. Sat Feb 13th - £852 (+£25 for the week)

8. Sat Feb 20th - £852  (+0 for the week)

Hopefully this month of support and gains means the bottom is in and not going back down any time soon - what do you think ??

Well, here we at sat another week on and another week positive for the yellow metal 

Week 9. currently on Friday 26th sat at £880, another £28 per for the week overall, despite hitting £897 on Weds this week

x9 weeks now of steady gains & consistent since the turn of the year.   Is the bottom firmly in now ??  Time to scratch that gold itch and buy more ?? or wait for a drop ?

.........................................................................................................................................................................................

Just being daft with maths now, and in a perfect world, i wonder if this will now happen, as gold heads to the moon

£880 today , £720 at start of the year = £160 gain divided by 9 weeks = +£17.77 averaged gain thus far for gold

Is it going to happen though???? one can hope  or will it drop now like a premier league striker in the penalty box, who knows ?? 

52 week minus 9 weeks so far leaves = x43 week left

x43 weeks @ £17.77 per week = £764 total gains for year

So come first week of Jan 2017 we should be at £880 (current spot price) plus £764 in gains = £1644 !

[KDave]

Well technically it is still looking good for gold but silver is not doing so well. What does that mean I wonder? 

I would love and hate to see £1644 gold. Assuming the £ remains roughly the same value relative to everything else then I would be happy enough. 

[Paul]

Assuming at GSR would remain as it is today

£880 vs £10.61

83 silver  to 1oz gold

£1664 divided by 83 = just £20 per oz silver

assuming silver went to relive its ratio of 33 to 1 of the 2011 highs, since silver always tags along for the gold ride  

£1664 divided by 33 = would give us a more respectful £50.42 per oz Jan 2017