Gold Monitoring Thread £ GBP only

[RDHC]

4 minutes ago, Ukbullionfan said:

So inflation goes up to 10percent tomorrow. So theoretically the price of gold should be going up. But let’s see what the manipulators do in the morning lol.

Trouble is, as I dimly understand it, that interest rate rises will  counteract the effect of inflation and such rises seem likely to continue. However, I shall be glad to be corrected or better informed by those who really understand these things.

[Paul]

21 minutes ago, Ukbullionfan said:

So inflation goes up to 10percent tomorrow. So theoretically the price of gold should be going up. 

To da'mooooooooooooooon! !!! 

[lst65]

11 minutes ago, RDHC said:

Trouble is, as I dimly understand it, that interest rate rises will  counteract the effect of inflation and such rises seem likely to continue. However, I shall be glad to be corrected or better informed by those who really understand these things.

In the ‘normal’ equilibrium of things, as I understand it, interest rate increases tend to mean the value of gold goes down? But the fact that inflation is almost certainly pushing the economy into recession, buyers will look to gold as a hedge? But frankly, with Covid and then the Russian invasion of Ukraine, coupled with an economy that is crashing - who knows..?!!!

[Bars]

26 minutes ago, lst65 said:

In the ‘normal’ equilibrium of things, as I understand it, interest rate increases tend to mean the value of gold goes down? But the fact that inflation is almost certainly pushing the economy into recession, buyers will look to gold as a hedge? But frankly, with Covid and then the Russian invasion of Ukraine, coupled with an economy that is crashing - who knows..?!!!

I blame Klaus @James32 and his hoovering. You’ll own no bullion and be happy 😱.

[jultorsk]

1 hour ago, RDHC said:

Trouble is, as I dimly understand it, that interest rate rises will  counteract the effect of inflation and such rises seem likely to continue. However, I shall be glad to be corrected or better informed by those who really understand these things.

 

Yes, in the grand scheme of things that's how it should work. However, the inflation has bolted and CB's are coming hopelessly late to the party with their rate hikes. That said, they probably wanted to wait until the last possible minute because of the giganormous debs that governments have piled up during the past three years or so. Us plebs are between rock and a hard place, so to say, as wages are not keeping up with the inflation but at the same time the banks holding our mortgages are happy to hike rates quick as @James32hoovers up gold here. Feels like somethings' gotta give - but what will it be? 

[SidS]

9 minutes ago, jultorsk said:

Feels like somethings' gotta give - but what will it be? 

Give it ten years and roubles might look better than most western currencies.

Edited August 16, 2022 by SidS

[James32]

8 minutes ago, jultorsk said:

 

Yes, in the grand scheme of things that's how it should work. However, the inflation has bolted and CB's are coming hopelessly late to the party with their rate hikes. That said, they probably wanted to wait until the last possible minute because of the giganormous debs that governments have piled up during the past three years or so. Us plebs are between rock and a hard place, so to say, as wages are not keeping up with the inflation but at the same time the banks holding our mortgages are happy to hike rates quick as @James32hoovers up gold here. Feels like somethings' gotta give - but what will it be? 

The myth has reached Australia 🤣🤣

[TommyTwoShots]

1 hour ago, Ukbullionfan said:

So inflation goes up to 10percent tomorrow. So theoretically the price of gold should be going up. But let’s see what the manipulators do in the morning lol.

Hopefully keep it down so I can buy more 🙂

[jultorsk]

18 hours ago, Ukbullionfan said:

So inflation goes up to 10percent tomorrow. 

Good call.

--

UK inflation accelerated more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England.

The Consumer Prices Index rose 10.1% in July from a year earlier after a 9.4% gain the month before, the Office for National Statistics said Wednesday. The reading was higher than expected by both the BOE and private-sector economists. 

Rising food prices made the biggest contribution to the month’s increase, indicating inflationary pressures are spreading beyond energy. Investors moved to price in 2 percentage points of increases in the BOE’s key rate to 3.75% by May next year.

https://www.bloomberg.com/news/articles/2022-08-17/uk-inflation-rises-more-than-expected-to-40-year-high-of-10-1

[lst65]

17 minutes ago, jultorsk said:

Good call.

--

UK inflation accelerated more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England.

The Consumer Prices Index rose 10.1% in July from a year earlier after a 9.4% gain the month before, the Office for National Statistics said Wednesday. The reading was higher than expected by both the BOE and private-sector economists. 

Rising food prices made the biggest contribution to the month’s increase, indicating inflationary pressures are spreading beyond energy. Investors moved to price in 2 percentage points of increases in the BOE’s key rate to 3.75% by May next year.

https://www.bloomberg.com/news/articles/2022-08-17/uk-inflation-rises-more-than-expected-to-40-year-high-of-10-1

So - @James32 should put all his silver & gold up for sale and put the money in the bank to earn the 0.8% interest. We can then buy all his stock. Perfect 😉😂

[James32]

44 minutes ago, lst65 said:

So - @James32 should put all his silver & gold up for sale and put the money in the bank to earn the 0.8% interest. We can then buy all his stock. Perfect 😉😂

Pm price please

[StackerBritt]

47 minutes ago, lst65 said:

So - @James32 should put all his silver & gold up for sale and put the money in the bank to earn the 0.8% interest. We can then buy all his stock. Perfect 😉😂

If that happens the market would get flooded and the gold price would collapse 😂

[lst65]

12 minutes ago, James32 said:

Pm price please

Two toffee’s, a sticking plaster and 50p..? 😂

[gji25]

@paul this video might help you out if your not busy looking at gold charts lol 🤣

 

[gji25]

on a serious note: at this moment in time commodities seem like the way to go to stave off inflation. i know you may be thinking well gold is not a necessity.  think again ! and know your history 😃

[Lordwolfsbeard]

5 hours ago, gji25 said:

@paul this video might help you out if your not busy looking at gold charts lol 🤣

 

Great tune. “This world of water” was another great pop effort.

[Paul]

15 hours ago, gji25 said:

@paul this video might help you out if your not busy looking at gold charts lol 🤣

 

[VanCentralAn]

I'll wait for the lower prices... 

[Ukbullionfan]

Quote

 

Could it break £1500 by the end of play Friday night ? Who knows tune in tomorrow evening to find out.

[Zhorro]

50 minutes ago, Ukbullionfan said:

Could it break £1500 by the end of play Friday night ? Who knows tune in tomorrow evening to find out.

All depends on what Powell (Fed Chairman) says tomorrow at the Jackson Hole (USA) conference.

[Paul]

Pushing £1490. . . . . . To da'mooooooooooooooon!!!

[bluemoon]

Given how gold is falling on the USD but still going up on GBP, I think our humble pound is in trouble!

[bluemoon]

Sorry wrong thread, please delete.

Edited August 27, 2022 by bluemoon

[dicker]

Cable at 1985 levels….Gold whilst declining has rise n in GBP terms.  What does this tell us?  High U.K. inflation coming.  

[modofantasma]

16 minutes ago, dicker said:

Cable at 1985 levels….Gold whilst declining has rise n in GBP terms.  What does this tell us?  High U.K. inflation coming.  

On the plus side gold has done a decent job of insulating us £ holders.