Gold Monitoring Thread £ GBP only

[Cogload]

It's like the market knows when I am approaching pay day....

[EdwardTeach]

7 hours ago, FlorinCollector said:

@James32 What happened today. Somebody launch the nukes? 😂😂

The US CPI inflation figures just came out higher than expected so people are rushing into safe havens like the dollar, metals and other commodities. It's just panic buying/selling.  Why no one saw high inflation figures coming is amazing but if you follow the MSN mainstream media type news they keep telling everyone everything is ok when it most certainly not.

Edited June 10, 2022 by EdwardTeach

[FlorinCollector]

9 minutes ago, EdwardTeach said:

The US CPI inflation figures just came out higher than expected so people are rushing into safe havens like the dollar, metals and other commodities. It's just panic buying/selling.  Why no one saw high inflation figures coming is amazing but if you follow the MSM mainstream media type news they keep telling everyone everything is ok when it most certainly not.

Thanks for that I found a vid there talking about it. Saying all analysts had predicted lower. As usual they were all wrong.

[FlorinCollector]

Poorly timed post. 

[modofantasma]

5 hours ago, FlorinCollector said:

Poorly timed post

I suppose it depends on the definition of 'soaring' 🤣

[SidS]

13 hours ago, Cogload said:

It's like the market knows when I am approaching pay day....

Everyone else's payday is two days before yours it seems! 😁

[SidS]

13 hours ago, EdwardTeach said:

...but if you follow the MSN mainstream media type news they keep telling everyone everything is ok when it most certainly not.

It'll all be over by Christmas, just like WWI.

Edited June 11, 2022 by SidS

[LawrenceChard]

Big gold price jump in the last hour or so!

I only noticed this a few minutes ago, and have not been able to see any particular reasons, explanations, or opinions, but this is a big, sharp, spike.

Up from around £1470 and £1480 per ounce yesterday, it is currently about £1520, showing a £40 to £50 rise in a very short time.

I have not yet looked at dollar pricing, but silver has also spiked today.

 

 

Edit:

It looks like some of the movement may be due to a fall in sterling against the US dollar.

The rate had fallen from around $1.25 to about $1.23

Assuming gold at $1875, the 2 cent drop would make a difference of about £25 per ounce.

 

Edited June 11, 2022 by LawrenceChard

[Zhorro]

1 hour ago, LawrenceChard said:

Big gold price jump in the last hour or so!

I only noticed this a few minutes ago, and have not been able to see any particular reasons, explanations, or opinions, but this is a big, sharp, spike.

Up from around £1470 and £1480 per ounce yesterday, it is currently about £1520, showing a £40 to £50 rise in a very short time.

I have not yet looked at dollar pricing, but silver has also spiked today.

 

 

Edit:

It looks like some of the movement may be due to a fall in sterling against the US dollar.

The rate had fallen from around $1.25 to about $1.23

Assuming gold at $1875, the 2 cent drop would make a difference of about £25 per ounce.

 

The US released their inflation figure yesterday, and CPI had risen to 8.6% - the "experts" had expected it to have already peaked!  So, this could have stimulated demand for gold, but I don't know why the Pound would have weakened.

https://www.zerohedge.com/personal-finance/us-consumer-prices-reaccelerate-may-highest-1981

[EdwardTeach]

2 hours ago, Zhorro said:

...but I don't know why the Pound would have weakened.

People are panicking and taking money out of risky investments like the stock market or crypto and moving it into safe havens like commodities or metals. Many of the people who want to keep their money in a fiat currency see the US Dollar as being slightly safer and more stable than other fiat currencies like the Pound or Euro hence the dollar looks like it's rising relative to these.

(The reality is all fiat currencies are rapidly losing their real world purchasing power and falling in value. The Dollar is just falling slight slower than the Pound or Euro so in relative terms to these it looks like it is going up.)

Edited June 11, 2022 by EdwardTeach

[CANV]

if you want to buy gold you have to effectively buy dollars.   I miss the olden days when the pound and sovereign were king 

[SidS]

7 hours ago, CANV said:

if you want to buy gold you have to effectively buy dollars.   I miss the olden days when the pound and sovereign were king 

The sovereign is still king really, it's still gold. The pound has about as much intrinsic value as a weekly grocery shopping receipt - only the numbers after the pound signs are generally smaller and worth much less.

Edited June 12, 2022 by SidS

[LawrenceChard]

On 10/06/2022 at 22:15, FlorinCollector said:

Poorly timed post. 

Yes, I noticed that, and laughed.

😎

[dicker]

My bet is that Gold will open up in Asia tonight.

[stefffana]

6 minutes ago, dicker said:

My bet is that Gold will open up in Asia tonight.

Yes, I think you are right. 

I can imagine until Friday gold @£1550/oz and silver @£18/oz.

Let's see...

[dicker]

I don’t want to derail this thread but another asset is down this weekend.  There is to an extent an inverse correlation….

[stefffana]

6 minutes ago, dicker said:

I don’t want to derail this thread but another asset is down this weekend.  There is to an extent an inverse correlation….

Do tell us some details?😁

 

Edited June 12, 2022 by stefffana

[FlorinCollector]

7 minutes ago, dicker said:

I don’t want to derail this thread but another asset is down this weekend.  There is to an extent an inverse correlation….

Really solid correlation. Btc raised what from £3k to £50k and gold did what a gain of a couple £100 🤣

[lst65]

I can predict with certainty…absolute certainty…

Tomorrow morning the sun will rise and tomorrow night it will set. 
 

Amen. 😉😂

Edited June 12, 2022 by lst65
Emoji

[Bigmarc]

1 hour ago, FlorinCollector said:

Really solid correlation. Btc raised what from £3k to £50k and gold did what a gain of a couple £100 🤣

Depends if one sold a large portion of one's gold stack and bought in at £45k or not. 

[FlorinCollector]

16 minutes ago, Bigmarc said:

Depends if one sold a large portion of one's gold stack and bought in at £45k or not. 

Depends on ones time frame then I guess. 

[stefffana]

8 hours ago, dicker said:

I don’t want to derail this thread but another asset is down this weekend.  There is to an extent an inverse correlation….

Yes, your prediction was right.

£1526.14/oz at the moment.😁

[Stacktastic]

Been waiting for this. Knee jerk / news related algo reaction from hedge funds & retirement funds (probably).  
Combined with yet another sell off on the stock market. See what happens Wed/Thurs when the FOMC comes out. 
Hoping for a c**p-storm as it needs to correct, but also great buying opportunity. 

Edited June 12, 2022 by Stacktastic

[AuricGoldfinger]

Was expecting to see 1530 + today and back down to £1500. 
 

MIGHT need to liquidate a 75% of my stack soon so could do with a very nice surge to £1600 🤞😁

[CANV]

20 hours ago, Stacktastic said:

Been waiting for this. Knee jerk / news related algo reaction from hedge funds & retirement funds (probably).  
Combined with yet another sell off on the stock market. See what happens Wed/Thurs when the FOMC comes out. 
Hoping for a c**p-storm as it needs to correct, but also great buying opportunity. 

pension funds will not have much exposure to crypto .  well the more aggressive ones might have some.. their version of 'tech' is Microsoft.....

the buying opportunities will be in stocks not PM's    but there is a way yo go yet.  the real deal is if you can sell your PM's and buy growth stocks at the right time ..

no one can but id guess that moment is 6 months away ...?