Gold Monitoring Thread £ GBP only

[SlugForAButt]

56 minutes ago, Zeuk said:

I guess that depends on your time frame?

I'm simply going on the channel the price of gold & silver settled in when the destruction of the economy started 

[Zeuk]

12 minutes ago, SlugForAButt said:

I'm simply going on the channel the price of gold & silver settled in when the destruction of the economy started 

Yeah i wasnt disagreeing buddy, just saying that trend lines are time frame specific, to take that a step further how you use them should influence your approach to trading - i missed the boat but the response of and events since 2008 have created a pretty decent upside in gold, if that ever gets undone the previous decade is also interesting.

[Midasfrog]

BBC 1 News on TV this morning didn't mention a single word about the Banks 🤔

Seems a bit risky buying while Gold is in a FOMO state maybe best to wait a few days and watch it rocket up even further before making a purchase.

[James32]

2 minutes ago, Midasfrog said:

BBC 1 News on TV this morning didn't mention a single word about the Banks 🤔

Seems a bit risky buying while Gold is in a FOMO state maybe best to wait a few days and watch it rocket up even further before making a purchase.

The day you mention gold will continue to go up..is the day I'm selling everything ✨️ 

[Midasfrog]

1 minute ago, James32 said:

The day you mention gold will continue to go up..is the day I'm selling everything ✨️ 

Yes I think it will continue to go up the Romans were right about that 😁

[SlugForAButt]

6 minutes ago, Midasfrog said:

BBC 1 News on TV this morning didn't mention a single word about the Banks 🤔

Seems a bit risky buying while Gold is in a FOMO state maybe best to wait a few days and watch it rocket up even further before making a purchase.

Because the media don't talk about it means nothing tbh mate.

Haven't we learned over the last 3 years that they'll say what they're told to say, correct or not?

I hope I'm wrong, but I see bail outs followed by bail ins. Good money after bad, leaving everyone in a right pickle and the Govt with the "unexpected" last resort of a CBDC to control the economy. Another reason to keep metals and not sell.

[Maxx546]

I was into property for a good few years the last house I bought was for £48,000 cash  in 2000 ...That house is now worth aprox £150,000 now in today's prices..

If I had put £48,000 in 1 oz gold coins at aprox £180 an oz at the time 265 1 oz coins it would have made me aprox £424,000 today going at £1600 a oz ... 

No brainer as far as I'm concerned..that's why I sold up all my houses and put a big chunk into gold 

Edited March 18, 2023 by Maxx546

[EdwardTeach]

22 minutes ago, SlugForAButt said:

Because the media don't talk about it means nothing tbh mate.

Haven't we learned over the last 3 years that they'll say what they're told to say, correct or not?

Every time the MSM deliberately avoids an obvious news subject and tries to distract me with other non-important stories tells me everything I need to know about what I should be focusing on (it happened a lot during the covid farce).

The banking collapse is an example of one of those times now. So ignore what Gary Lineker or any other celebrities are mouthing off about today and ignore what weird retarded stuff people are pushing in the woke wars today and instead pay specific attention to the real story the newspapers try to play down or hide.

 

Edited March 18, 2023 by EdwardTeach

[Zeuk]

30 minutes ago, James32 said:

The day you mention gold will continue to go up..is the day I'm selling everything ✨️ 

The day you sell everything the market will be flooded and price will drop

[Roy]

There was a young trader from yonder

Who went short but should've gone longer

He found to his cost

How much money he'd lost

How wrong about gold were you Wonger!

[Rafal]

What is better 10 k in savings account or oz of gold or silver ? Considering all what happing right now with banks.

I am starting to think to keep fake paper under floor then in the bank just in case they decide to keep 25 or 50 %

Edited March 18, 2023 by Rafal

[CazLikesCoins]

53 minutes ago, Rafal said:

What is better 10 k in savings account or oz of gold or silver ? Considering all what happing right now with banks.

I am starting to think to keep fake paper under floor then in the bank just in case they decide to keep 25 or 50 %

You can't go wrong with a bit of everything. Apart from food. That doesn't work too well if you are on a diet.

[Stacktastic]

2 hours ago, Rafal said:

What is better 10 k in savings account or oz of gold or silver ? Considering all what happing right now with banks.

I am starting to think to keep fake paper under floor then in the bank just in case they decide to keep 25 or 50 %

I am staring to think that money put to good work is the best option.
Anything with a 10%+ return, ideally 300% LOL.
Investing in a recession proof business for example. 
Tangibles and collectibles that accrue value could arguably be better than metals. 
Assuming we dont see a complete global meltdown & hyper inflation over an extended period.
But even then you have barter - we are clever also so should do a lot better as we are also mentally ready. 

Case in point - I sold most my gold yesterday. 
Made next to no profit on it as I bought it in 2020.
Its going to a day trading from next week so will be put to work. 
I can trade miners and paper physical also if necessary.  

Edited March 18, 2023 by Stacktastic

[Bars]

2 hours ago, Stacktastic said:

I am staring to think that money put to good work is the best option.
Anything with a 10%+ return, ideally 300% LOL.
Investing in a recession proof business for example. 
Tangibles and collectibles that accrue value could arguably be better than metals. 
Assuming we dont see a complete global meltdown & hyper inflation over an extended period.
But even then you have barter - we are clever also so should do a lot better as we are also mentally ready. 

Case in point - I sold most my gold yesterday. 
Made next to no profit on it as I bought it in 2020.
Its going to a day trading from next week so will be put to work. 
I can trade miners and paper physical also if necessary.  

How have you made next to no profit if you bought in 2020?! 

 

Staktastic what are you doing man!

[ant1882]

26 minutes ago, Bars said:

How have you made next to no profit if you bought in 2020?! 

 

Staktastic what are you doing man!

Could have bought around the 2020 top, would have been a bit of a wait to break even from there... not taking into account premiums as well, depends on what was bought. 

[Midasfrog]

What's the best guess for the coming week a continued climb in Gold spot ?

Or a leveling off sideways 🤔

£1634.77 before opening at the moment 

[MBTPSilver]

12 hours ago, Bars said:

How have you made next to no profit if you bought in 2020?! 

 

Staktastic what are you doing man!

I've seen a lot of people who bought around August 2020 near the previous ATH trying to sell now, but with the buy/sell spread it's not quite enough or they're just about breaking even.

[dicker]

I think the start of the week hinges on CS:

- Merger with UBS and billions from the Swiss government to do so then gold stabilises or subsides.

- Merger can’t be agreed. CS gets hammered further and gold is “off to the races”

Just my thoughts!

Best

Dicker

[FriedrichVonHayek]

15 hours ago, Stacktastic said:

I am staring to think that money put to good work is the best option.
Anything with a 10%+ return, ideally 300% LOL.
Investing in a recession proof business for example. 
Tangibles and collectibles that accrue value could arguably be better than metals. 
Assuming we dont see a complete global meltdown & hyper inflation over an extended period.
But even then you have barter - we are clever also so should do a lot better as we are also mentally ready. 

Case in point - I sold most my gold yesterday. 
Made next to no profit on it as I bought it in 2020.
Its going to a day trading from next week so will be put to work. 
I can trade miners and paper physical also if necessary.  

I am toying with the idea of selling my remaining Gold and buying more scrap Silver and PM Miners.

Both look better value than Physical Gold.

Hopefully in the future I can sell up and exchange my Silver and Mining Shares for Physical Gold.

[ArgentSmith]

Who's thinking USD weakness will cause headwind for £Gold?

[Midasfrog]

2 hours ago, dicker said:

I think the start of the week hinges on CS:

- Merger with UBS and billions from the Swiss government to do so then gold stabilises or subsides.

- Merger can’t be agreed. CS gets hammered further and gold is “off to the races”

Just my thoughts!

Best

Dicker

Sky News have just reported that UK regulators back merger of banking giants CS and UBS 

 

[Midasfrog]

1 hour ago, ArgentSmith said:

Who's thinking USD weakness will cause headwind for £Gold?

Also not much in the news about the US and UK property slow down which will push gold up over the coming two years 

[EdwardTeach]

2 hours ago, Midasfrog said:

What's the best guess for the coming week a continued climb in Gold spot ?

Or a leveling off sideways 🤔

£1634.77 before opening at the moment 

It depends on what the banks do next. If the bailouts and mergers work and they don't collapse within a week or two I think that maybe gold will have a small pullback to around £1600 over the next month. If the bailouts don't work and more banks start to collapse then gold will continue going up to the moooooon!

Edited March 19, 2023 by EdwardTeach

[EdwardTeach]

1 hour ago, ArgentSmith said:

Who's thinking USD weakness will cause headwind for £Gold?

Yeah maybe.

Maybe I'm getting it mixed up here but wouldn't it be the other way round? If the USD drops against the GBP wouldn't that cause gold will go up in GBP?

Edited March 19, 2023 by EdwardTeach

[Zhorro]

6 minutes ago, EdwardTeach said:

Yeah maybe.

Maybe I'm getting it mixed up here but wouldn't it be the other way round? If the USD drops against the GBP wouldn't that cause gold will go up in GBP?

If the Dollar falls, the Pound would go up against it, and so the Pound value of gold would fall - but the fall in the Dollar could push up the Dollar price of gold which might off set the Pound value fall - I think!