Gold Monitoring Thread £ GBP only

[ArgentSmith]

Gold's down 1% already 😬

 

[James32]

Just now, ArgentSmith said:

Gold's down 1% already 😬

 

Glass half empty....I like to view it as being up 99%

[SiCole]

14 minutes ago, James32 said:

Glass half empty....I like to view it as being up 99%

Probably as your personal wealth has gone up 20k so far today.

[Leonmarsh]

Here's my thoughts for what their worth 

When I look at my parents who bought houses for 30k and now worth 300k today  will we see this again 

Younger generation aged 20 today they buy a house for 300k would it be worth 3 million in the same timeframe - highly unlikely 

The next generation of gold buyers 18-30 are faced with crippling bills, austerity and huge rents and mortgages whilst their  wages will inevitably remain suppressed 20k to 40k, younger people will be faced with the decision of food, warmth, shelter, making ends meet for their kids and so on leaving little disposable income - so where does the next generation of gold buyers come from ? 

Savvy young people would be able to afford the odd small bar, sov a month etc in times gone buy, now it will be like making a major purchase with little disposable income each month

I suppose my point is this if gold rose yearly alongside wages it's healthy 

If gold rises like it has been and wages don't it cuts the legs from the under the "new market and generation" leaving a few people aged 40+ now who bought over the last 20 years doing well and able to cash out, but cash out to whom? 

Young people will inevitably prioritise shelter warmth and food over gold everytime,

There will always be buyers young people now who do well, but my fear is the gold will be reserved for the doctors, solicitors and so on of this world with the working class shop worker, cleaner middle manager etc gold buying will be a pipe dream

Intergenerational Sustainability and affordability are key for healthy long term growth of any asset 

We are already seeing what massive house price growth has done since the heyday of the 80's and 90s a generation of renters

Maybe an idea rent a gold piece for the young people of today in the future lol

Just a few thoughts on a really interesting time in our history

 

 

 

 

 

Edited March 15, 2023 by Leonmarsh

[Zhorro]

Now £1,583.77, so either profit taking or someone is not happy with the high price of gold!

[CazLikesCoins]

Goodbye Sovereigns, hello 1 gram bars. Anything to keep the gold fever manageable.

[Lyrinn]

37 minutes ago, ArgentSmith said:

Gold's down 1% already 😬

 

[Zhorro]

This may explain why gold has pulled back:

"Bloomberg reports that, according to people familiar with the matter, that Swiss authorities and Credit Suisse Group AG are discussing ways to stabilize the bank"

https://www.zerohedge.com/markets/credit-suisse-sparks-global-de-risking-after-top-investor-bails

[SidS]

Catching a falling knife.

[CaptCaveMan]

31 minutes ago, Leonmarsh said:

Here's my thoughts for what their worth 

When I look at my parents who bought houses for 30k and now worth 300k today  will we see this again 

Younger generation aged 20 today they buy a house for 300k would it be worth 3 million in the same timeframe - highly unlikely 

The next generation of gold buyers 18-30 are faced with crippling bills, austerity and huge rents and mortgages whilst their  wages will inevitably remain suppressed 20k to 40k, younger people will be faced with the decision of food, warmth, shelter, making ends meet for their kids and so on leaving little disposable income - so where does the next generation of gold buyers come from ? 

Savvy young people would be able to afford the odd small bar, sov a month etc in times gone buy, now it will be like making a major purchase with little disposable income each month

I suppose my point is this if gold rose yearly alongside wages it's healthy 

If gold rises like it has been and wages don't it cuts the legs from the under the "new market and generation" leaving a few people aged 40+ now who bought over the last 20 years doing well and able to cash out, but cash out to whom? 

Young people will inevitably prioritise shelter warmth and food over gold everytime,

There will always be buyers young people now who do well, but my fear is the gold will be reserved for the doctors, solicitors and so on of this world with the working class shop worker, cleaner middle manager etc gold buying will be a pipe dream

Intergenerational Sustainability and affordability are key for healthy long term growth of any asset 

We are already seeing what massive house price growth has done since the heyday of the 80's and 90s a generation of renters

Maybe an idea rent a gold piece for the young people of today in the future lol

Just a few thoughts on a really interesting time in our history

Personally, I agree with most of your thoughts here @Leonmarsh

The next generation of gold buyers could be a much thinner heard, I'd go as far as to question what will the next generation be able to afford to buy/invest in to improve their lot or that of their kids and so on...

If I'm fortunate enough, I don't plan to cash out.  I'm hoping it's for my next generation but there's a catch, I'll only match what they can build up.

Whilst at home, it's their best opportunity to do this without worrying about the decisions of food, warmth, shelter and making ends meet and to be brutally honest, I don't see them going it alone until I'm close to or hitting retirement myself due to the points you've highlighted.

Back to the thread, £1,591 still a very heathy uptick since the weekend...

[CollectForFun]

15 hours ago, HerefordBullyun said:

treasury bonds blood bath - Credit Suisse - goodnight

Aren't those yields? If yields go down, price goes up, which is good for a bank holding those bonds...

Edit: in addition, as per the statement in the below linked zerohedge article, Credit Suisse claims to have their investment in bonds "fully hedged for moves in interest rates" which is supposed to mean they are not losing (nor gaining) if bond prices go down (or up).

Edited March 16, 2023 by CollectForFun

[Zhorro]

Well, things seem to have quietened down - gold £1,584.95.  Could it be because:

Bailout Arrives: Credit Suisse To Borrow $54BN From SNB To "Pre-emptively Strengthen Liquidity"

https://www.zerohedge.com/markets/credit-suisse-sparks-global-de-risking-after-top-investor-bails

I suppose if you say it very quickly, "$54BN" doesn't sound very much!

[KitboyE17]

2 hours ago, Zhorro said:

Well, things seem to have quietened down - gold £1,584.95.  Could it be because:

Bailout Arrives: Credit Suisse To Borrow $54BN From SNB To "Pre-emptively Strengthen Liquidity"

https://www.zerohedge.com/markets/credit-suisse-sparks-global-de-risking-after-top-investor-bails

I suppose if you say it very quickly, "$54BN" doesn't sound very much!

Because it’s G-SIB it’s probably no surprise SNB ploughed in with $54BN. 

[LemmyMcGregor]

14 hours ago, Zhorro said:

This may explain why gold has pulled back:

"Bloomberg reports that, according to people familiar with the matter, that Swiss authorities and Credit Suisse Group AG are discussing ways to stabilize the bank"

https://www.zerohedge.com/markets/credit-suisse-sparks-global-de-risking-after-top-investor-bails

If only we could go back to when currencies were stable, before central banks, when coins were the currency, before the printing of paper money that could worthlessy inflate, wonder what would take to go back there, but I'm no expert, it's probably too complicated for me.

[KevjustKev]

21 minutes ago, LemmyMcGregor said:

If only we could go back to when currencies were stable, before central banks, when coins were the currency, before the printing of paper money that could worthlessy inflate, wonder what would take to go back there, but I'm no expert, it's probably too complicated for me.

We could, but the trade section here would be pretty bare

[HerefordBullyun]

14 hours ago, CollectForFun said:

Aren't those yields? If yields go down, price goes up, which is good for a bank holding those bonds...

Edit: in addition, as per the statement in the below linked zerohedge article, Credit Suisse claims to have their investment in bonds "fully hedged for moves in interest rates" which is supposed to mean they are not losing (nor gaining) if bond prices go down (or up).

You miss the point, who pays the interest on the yields? Santa clause? Jesus? The pope?

No its the fed and the stealth tax by inflation and rising taxes.....

[KevjustKev]

A good time for a partial cash out?

[Midasfrog]

5 minutes ago, KevjustKev said:

A good time for a partial cash out?

Probably should have done that last September/ October and picked up some Bitcoin during November while it was down , but everyone's position is different. I would hold strong on gold now.

[EdwardTeach]

Are they calling it a bailout this time? Like the US is not in a recession because they say it isn’t and a man can be a woman etc.

 

 

Edited March 16, 2023 by EdwardTeach

[bluemoon]

5 minutes ago, EdwardTeach said:

Are they calling it a bailout this time? Like the US is not in a recession because they say it isn’t and a man can be a woman etc.

 

 

It's the banks bailing all of US out, obviously!

[LemmyMcGregor]

12 minutes ago, EdwardTeach said:

Are they calling it a bailout this time? Like the US is not in a recession because they say it isn’t and a man can be a woman etc.

 

 

It's a bailout, but it won't cost the taxpayer a dime, pinky promise

[dicker]

Back up to 1600

CS has been leant £44.5 billion by the Swiss National Bank.

The market and gold are sniffing out if this is enough…doesn’t look like it.  

[SidS]

3 minutes ago, dicker said:

Back up to 1600

CS has been leant £44.5 billion by the Swiss National Bank.

The market and gold are sniffing out if this is enough…doesn’t look like it.  

Can kicked and down the road it bounces.

[HerefordBullyun]

£1600 will be the new norm weve already bottomed out!

[Zhorro]

25 minutes ago, dicker said:

Back up to 1600

CS has been leant £44.5 billion by the Swiss National Bank.

The market and gold are sniffing out if this is enough…doesn’t look like it.  

The markets are eagerly awaiting what Christine Lagarde (of the ECB) is going to say in a couple of hours time: