Gold Monitoring Thread £ GBP only

[BackyardBullion]

10 minutes ago, JSILVER said:

What is causing golds slump at the moment?
I would of thought with Tusks conference tomorrow, people would be worrying in the markets.

Could Bitcoin be taking some of the ground of gold? 
Its going mental, I much prefer gold though!

Part of the drops we are seeing in the UK are from the strengthening £ as well. Gold down -1.56% in £ but close to -2% in $

[JSILVER]

1 minute ago, BackyardBullion said:

Part of the drops we are seeing in the UK are from the strengthening £ as well. Gold down -1.56% in £ but close to -2% in $

Depending what happens tomorrow we could see it push back up then, madness what man says can cause so many problems!

[JunkBond]

2 minutes ago, JSILVER said:

tomorrow we could see it push back up then

Lets hope not! I got shopping to do. 

[Guest]

17 minutes ago, JunkBond said:

Lets hope not! I got shopping to do. 

Definitely an addict 

[sixgun]

The reason for this artificial fall in the price of gold is the position of the central bank of central bank, the Bank of International Settlements. i say artificial fall b/c the demand for physical gold is outstripping mined supply. The BIS has to repay a 560 tonnes of swapped/leased/sold obligations by the end of December. They have to come up with cold hard physical metal. Not paper nonsense, really shiny bars and 560 tonnes of them. They are in a spot as physical demand is very high. They are trying to get this gold cheaper and so paper is being hosed into the market to suppress price. This is the reality of what is happening. Everything else you are told is either a lie or told in ignorance. Silver has been trashed in an attempt to get the gold price down. The BIS plays $trillion games on the currency markets where gold and silver are the only real money and they seek to suppress them to keep the illusion the fiat currencies are something more than a confidence trick.

[sixgun]

.

Edited December 9, 2017 by sixgun
post go duplicated for some reason

[Jay2]

31 minutes ago, sixgun said:

The BIS has to repay a 560 tonnes of swapped/leased/sold obligations by the end of December.

 

31 minutes ago, sixgun said:

They are trying to get this gold cheaper and so paper is being hosed into the market to suppress price.

If the problem is promised gold on paper, how is the 'solution' a flood of gold on paper?  Seems like a deadly spiral if that's the game going on.

[sixgun]

1 minute ago, Jay2 said:

 

If the problem is promised gold on paper, how is the 'solution' a flood of gold on paper?  Seems like a deadly spiral if that's the game going on.

The problem is the physical gold must be repaid. The debt has been built up over the year as part of the gold price suppression. They don't have the physical gold but they must hand over 560 tonnes of physical gold. They have to go out and get it. They want to get it as cheaply as possible. If the gold price took off the losses would be huge.

They do not have physical gold to suppress the gold price these days, they use the paper markets. This is all they can do. They dump 100's of tonnes of paper contracts into the market to send the futures gold price down. This is how they do it along with lies and propaganda saying gold is done for. This does to some extent drop the wholesale physical price, but larger buys of gold are always at a premium. All the time the Chinese, Indian, Russians, Turks..... and buying up physical. There will come a point when the paper and physical markets diverge too much. Where the paper prices become irrelevant to what is going on with real gold. At some point there will be a reset in price. Price will gap up $100's if not $1000's b/c that is the true price the true market will set.

[Bumble]

Sixgun, I like what you say and I hope you are right. My only reservation is that for the last two years the commentator Andrew Maguire has been saying the same thing about physical demand for gold being about to break the paper market and cause a sharp rise in price, and it hasn't happened yet. He is an experienced professional PM trader so I'm sure his facts and figures are correct, but the capacity for the manipulators on Comex to hold the price down shows no signs of ending.

[C12]

I think the gold chart is technically looking great right here. Last year price broke out above the 6.5 year bear market downtrend and recently retested the breakout line.

The chart pattern would suggest targets are $1600 and then $1850. 

Another drop towards $1220 would be ideal but not sure we'll get it. 

Edited December 25, 2017 by C12

[HawkHybrid]

 

imo worth a watch, particularly the end bit that says it may

be worth keeping an open mind about strategies used.

 

HH

[JunkBond]

Hovering around 959 atm, are we all buying or holding out for bigger dips, HGM has plenty o' stock.

[Roy]

Keep buying JB.

What's a dip? £5 to £10 on a sov?

When HGM run out of stock, you'll regret it 

[JunkBond]

thanks @Roy you know I wouldn't spend money without running it past you first.

[Roy]

 

But JB...

You missed a proof half sov @ £117!

Become a Premium Member, so many great deals recently

 

[JunkBond]

There is enough temptation around already!

[KDave]

Good video tape from iGold Adviser on youtube today, crystal balling a December 2018 breakout. His crystal ball is normally pretty good.

 

Edited January 18, 2018 by KDave

[Pete]

Before I buy any coins I always compare HGM and Atkinsons prices as 90% of the time the lowest.

I decided to buy a one ounce Queen's Beast but was somewhat surprised to see the Royal Mint being much cheaper than Atkinsons for a Griffin.
I paid £983.03 with free delivery and the coin comes in a capsule from the RM.

Has Atkinson's mis-priced or is the Griffin price rising following it's predecessor the Lion I wonder, in which case the RM price is a bargain.

[Foolssilver]

5 minutes ago, Pete said:

Before I buy any coins I always compare HGM and Atkinsons prices as 90% of the time the lowest.

I decided to buy a one ounce Queen's Beast but was somewhat surprised to see the Royal Mint being much cheaper than Atkinsons for a Griffin.
I paid £983.03 with free delivery and the coin comes in a capsule from the RM.

Has Atkinson's mis-priced or is the Griffin price rising following it's predecessor the Lion I wonder, in which case the RM price is a bargain.

I think the RM had a sale for the next couple f days which means their prices are a bit lower

[Pete]

21 minutes ago, Foolssilver said:

I think the RM had a sale for the next couple f days which means their prices are a bit lower

I compared all the one ounce beasts prices with Atkinsons who were comparable, but the second-hand Griffin at Atkinsons was unusually high hence prompting my post.

[KDave]

Look at them strong pounds! Anyone buying the spike? 

[Jay2]

3 minutes ago, KDave said:

Look at them strong pounds! Anyone buying the spike?

Tempting.

[mr-dead]

Seems gold price is having a healthy boost, currently up £14.46 /oz with silver up 16p

Probably linked to the pound getting smashed due to the poorest GDP report since 2012:

https://www.zerohedge.com/news/2018-04-27/pound-crashes-after-uk-reports-worst-gdp-2012-rate-hike-odds-tumble

[Thelonerangershorse]

How's the dollar price looking?

[mr-dead]

4 minutes ago, Thelonerangershorse said:

How's the dollar price looking?

up $4.50

 

Edited April 27, 2018 by mr-dead