Gold Monitoring Thread £ GBP only

[Paul]

2 minutes ago, Nick1368 said:

Wooow I remember my first gold purchase in 2018 , spot price was £900 , five years later and it’s £1600 now 

my cheapest gold was a 1/2 gold coin aussie nugget from @arshimo2012for £370 back in 08/2015

those were the days, all of us moaning and groaning "gold should be trading much higher than this ggrrrhhhhh the markets rigged and manipulated  "

[Midasfrog]

Just now, James32 said:

Dude I'm still waiting for your dip ffs... you are to financial advice,  what Joe Biden is to the Olympics 😆 

There is a Dip every week , this weeks Dip only lasted for two hours 😂

[flyingveepixie]

On 15/03/2023 at 16:03, Midasfrog said:

Sell a couple of tubes of sovereigns while it's high and buy one Bitcoin or sell a bit more and buy a rental property and Let it for £800 / month income. The housing crash is here with 20% to 30% lower prices than last year.

🤔

Edited March 22, 2023 by flyingveepixie

[flyingveepixie]

4 minutes ago, flyingveepixie said:

If gold goes to £5k/oz and silver follows it to say a reasonable £500/oz I'll certainly be considering that option.  🤔

So maybe by the end of next week...🙄

£1607.91

 

Edited March 15, 2023 by flyingveepixie

[Lyrinn]

Er... £1,650 by Friday?

[flyingveepixie]

On 15/03/2023 at 16:20, Lyrinn said:

Er... £1,650 by Friday?

Could be investors dumping their Credit Suisse stock or withdrawing deposits, in both cases to put their fiat into gold and it's pushing up demand.. 

Edited March 22, 2023 by flyingveepixie

[Paul]

 

[modofantasma]

[SidS]

18 minutes ago, Paul said:

my cheapest gold was a 1/2 gold coin aussie nugget from @arshimo2012for £370 back in 08/2015

Lawrence Chard used to pick sovereigns up in change.

[Paul]

Just now, SidS said:

Lawrence Chard used to pick sovereigns up in change.

im just a young pup though 

[flyingveepixie]

Credit Suisse share price still dropping steadily...

 

[dicker]

Grim for CS

Fascinating to oil crashing and gold spiking at the same time

Gold GBP1610 - up 2.7 pct

Brent Crude USD72 - down 6.2 pct

Oil heading down for me means inflation will drop.  

[dicker]

Owning gold is like being an anaesthetist. Weeks go by with nothing really happening but when things do happen they happen fast and it’s a bit spectacular.  

1611

[flyingveepixie]

I ought to pick my guitar up again and do something worthwhile....🥴

Edited March 22, 2023 by flyingveepixie

[ant1882]

Just got an email from the Royal Mint suggesting I look into buying gold 🤣

[Paul]

£1610 nearly breached, approaching up +5% for the week 

[Paul]

from BBP newsletter 

 

Gold hits new all-time high in UK as banking crisis grows

Gold has hit a new UK price record for the second time this year following the collapse of Silicon Valley Bank on Friday. The failure of the regional US bank has sparked a wave of fear across financial markets, slashing billions off of the value of banks around the world.

So far gold has hit a new peak of £1,599.26 per ounce today, beating February's previous record of £1,592, and with market fear spreading to impact banks globally, it seems that £1,600 per ounce could be reached at any moment. Even in the US gold is up more than 6% in the past week, hitting $1,930.52 today, and could soon pass $2,000 per ounce.

 
Gold has seen strong gains this week following the collapse of SVB, including a new UK record. 

Markets had seemed somewhat calmer on Tuesday following the intervention of the Federal Reserve to safeguard SVB deposits, and the purchase of SVB's UK branch by HSBC. The collapse in share price for Credit Suisse today however has once again put bank stocks in the firing line, with trading suspended on many shares due to steep losses.

Credit Suisse is currently down 27.7% in trading today, with their primary investor ruling out any further liquidity from them. The collapse of Credit Suisse would be considered another Lehman Brothers moment, which many will remember kicked off the financial crisis in 2008. Fear is already spreading quickly throughout the market, and demand for precious metals has risen significantly, prompting the busiest ever Sunday for BullionByPost.

It is unclear how deep this crisis will go, and how quickly events will progress, but for gold this is just another addition to an already positive outlook, and it is hard to imagine that today's new record will stand for long given the current market conditions.

[Midasfrog]

On 16/01/2015 at 16:04, Kman said:

£27.07 per gram

 

Flying atm isn't it

It only took 8 years to almost double this with todays spot being £51.74 per gram 🙂

[dicker]

8 minutes ago, flyingveepixie said:

And the ATh's just keep coming....  I'm sitting here spellbound.

I must be a right sad git...  

I ought to pick my guitar up again and do something worthwhile....🥴

Not a sad git at all.  Great fun to watch!

[AurumArgenti]

£2k gold then £5 🍞.... Owning gold is like being bipolar. 🫣😅

[Paul]

4 minutes ago, Midasfrog said:

It only took 8 years to almost double this with todays spot being £51.74 per gram 🙂

ive had my works van over 8 years years and it hasn't doubled in value, i call her Credit Suisse  

[dicker]

1610

Even JP Morgan with its legendary “fortress” balance sheet down nearly 6pct.  They are arguably the best capitalised bank…

[MrStacker]

£1610!!!! 😱

I don’t think I’ll be able to afford any gold coin on payday! 😂

[James32]

Just now, MrStacker said:

£1610!!!! 😱

I don’t think I’ll be able to afford any gold coin on payday! 😂

I'm starting a clipping coin shop soon, will send you a business card by post... only special delivery covers business cards and clipped coins

[Paul]

Today, the half sovereign has now replaced the full sovereign officially as the coin of choice to stack for the " Average Man on the Street "