Gold Monitoring Thread £ GBP only

[HerefordBullyun]

1 minute ago, Smiler999 said:

1407

no its 23:17 oh sorry I thought you meant the time!

[Smiler999]

Just now, HerefordBullyun said:

no its 23:17 oh sorry I thought you meant the time!

Be off with you lol 

[AuricGoldfinger]

The rise is gold price is helping me lick my wounds slightly after the battering my SMT shares have taken in last few months.
 

It doesn’t cover the downside but it’s a pleasant distraction.

Was hoping the price would hold out until I bought some 2022 sovs but such is life! I think we could see a new ATH this year. 

[GoldenGriffin]

On 10/02/2022 at 17:41, TommyTwoShots said:

Pushing interest rates up will not change the rate of inflation as it is being driven by international factors like the rising cost of gas. The only thing raising interest rates would do is harm economic output.

Some of you may have seen this video before by Ray Dalio on "How the economic machine works".

If you haven't, I highly recommend that you watch it - it's really insightful on the short and long term running of the economy and gave me an indication as to where we are in the long term cycle... Are we approaching a deleveraging phase and the "lost decade"?

In terms of interest rates, they go up to slow down borrowing and enable debt to be paid down.  They go down to stimulate borrowing. 

However, over time, a limit is reached as to how much interest rates can be changed.

 

 

Edited February 22, 2022 by GoldenGriffin

[RDHC]

3 hours ago, AuricGoldfinger said:

The rise is gold price is helping me lick my wounds slightly after the battering my SMT shares have taken in last few months.
 

It doesn’t cover the downside but it’s a pleasant distraction.

Was hoping the price would hold out until I bought some 2022 sovs but such is life! I think we could see a new ATH this year. 

A piece of true philosophy.

[Ukbullionfan]

Will it hit £1450 by Friday night 🙈

[James32]

Just now, Ukbullionfan said:

Will it hit £1450 by Friday night 🙈

No! 🤣

[chrisdobb]

No chance, 1427 before a slide.

[GoldenGriffin]

I think the imminent interest rate increase from the Bank of England will pull gold down again in the month(s) ahead, but in the meantime, I think gold will go up covering the debt in the cycle we're in.

The interest rate increase on borrowers will cover some of that debt, along with proposals to increase NI, energy and food hikes etc. and gold will slowly back down again.

I'm still waiting for it to come down to my predicted £1,200!! 

The increase in gold gets the gold minors back out there and partly covers their losses.  If and when gold drops, minors will have covered their losses and continue and accept the £1,200 or so spot price.

Edited February 23, 2022 by GoldenGriffin

[Midasfrog]

2 hours ago, Ukbullionfan said:

Will it hit £1450 by Friday night 🙈

Yes 😍

[Mtaybar]

3 hours ago, Ukbullionfan said:

Will it hit £1450 by Friday night 🙈

Hopefully not! 

[CANV]

Golds gone binary for the next few weeks.   Putin bad,, gold up.   Putin good gold down.    all the while 7 per cent plus inflation gurgling away in the back ground 

[Midasfrog]

Todays high so far £1411.25 👍 looking good to hit this weeks target of £1450 at some point 🚀

[AuricGoldfinger]

I predict £1574.38 by year end

[James32]

23 minutes ago, Midasfrog said:

Todays high so far £1411.25 👍 looking good to hit this weeks target of £1450 at some point 🚀

You blighted it lol

[Gunnerwood]

Royal Mint are showing spot on gold as £1421 atm. 

[James32]

1 minute ago, Gunnerwood said:

Royal Mint are showing spot on gold as £1421 atm. 

They are always a few pound higher for some reason, atkinsons or bullionbypost.co.uk seem the nearest. 

[Mtaybar]

5 minutes ago, James32 said:

They are always a few pound higher for some reason, atkinsons or bullionbypost.co.uk seem the nearest. 

It's showing 1409 on bullion by post right now as TSF shows 1405. TSF was showing higher then BBP yesterday. Not sure what this follows?

[Midasfrog]

Helps push sales if they show a higher figure on the gold chart , their prices are also higher though 🙈

Edited February 23, 2022 by Midasfrog

[James32]

1 minute ago, Mtaybar said:

It's showing 1409 on bullion by post right now as TSF shows 1405. TSF was showing higher then BBP yesterday. Not sure what this follows?

Think this follows tomorrow's price 🤣🤣

Wake me at £2k a gram lol.

[Midasfrog]

The last time I bought a sovereign from the RM was in 2017 , a full sovereign was £238 , I havnt bought from them since its daylight robbery 😂

[James32]

Just now, Midasfrog said:

The last time I bought a sovereign from the RM was in 2017 , a full sovereign was £238 , I havnt bought from them since its daylight robbery 😂

I sold a pile around that price 4 or 5 years ago when starting out...think I made £10 profit a sovereign and thought I won the lottery 😅 Well that worked out well 😅 

[Mtaybar]

2 minutes ago, James32 said:

Think this follows tomorrow's price 🤣🤣

Wake me at £2k a gram lol.

1 minute ago, Midasfrog said:

The last time I bought a sovereign from the RM was in 2017 , a full sovereign was £238 , I havnt bought from them since its daylight robbery 😂

 

I'm waiting for prices to drop back down to a sensible price. Last time I bought a sovereign it was from here but prices were at £1320ish and the next day it went £1340+. A few months ago. 

[James32]

1 minute ago, Mtaybar said:

I'm waiting for prices to drop back down to a sensible price. Last time I bought a sovereign it was from here but prices were at £1320ish and the next day it went £1340+. A few months ago. 

Yeah I want some more 2022s but the only place that has them are rm and nearly £360 now...think how many pizzas you could get for that in Iceland 😁

[Mtaybar]

Just now, James32 said:

Yeah I want some more 2022s but the only place that has them are rm and nearly £360 now...think how many pizzas you could get for that in Iceland 😁

I don't have any bullion 2022 sov's yet but  I want at least 2x full and 1x half. One full for each of my daughter's and the half for my granddaughter. Any others would be for my personal stash but not likely to be able get any more then theirs tbh. I'm probably only able to get the 1/10s for myself. I'd like 2x 1/4 gold bullion TB lions as well but that's for the rich folks amongst us!