Gold Monitoring Thread £ GBP only

[AurumArgenti]

3 minutes ago, Bigmarc said:

Yes it's turning my stomach evey time I look at it, I am over invested in alts and silver. I do have gold and a tiny bit of Btc but am going to ride it out and see. 

Normally BTC pumps and some alts pop off. Eventually the BTC market dominance drops when in new highs or a retracement. Rotation into alts happens later if the past is any indicator.

Is this time different though...🤷‍♂️

[SlugForAButt]

I'll be interested to see what happens whith BTC.

I can't see them in charge letting an unregulated digital currency ruin their day.

Wonder if they're happy to see the price rocket up before pulling the rug?

[Bigmarc]

5 minutes ago, AurumArgenti said:

Normally BTC pumps and some alts pop off. Eventually the BTC market dominance drops when in new highs or a retracement. Rotation into alts happens later if the past is any indicator.

Is this time different though...🤷‍♂️

Yeah we will see, in my head crypto is gambling money, silver is my money maker and gold in my savings (I am guilty of selling some tho).

[ArgentSmith]

20 minutes ago, Bigmarc said:

Yes it's turning my stomach evey time I look at it, I am over invested in alts and silver. I do have gold and a tiny bit of Btc but am going to ride it out and see. 

Silver will never go to zero 🤗

31 minutes ago, EdwardTeach said:

It’s interesting that BTC is going up more than the altcoins are which is unusual in the crypto markets. This suggests to me that people are looking for a safe haven to keep their money safe rather than to speculating to make a profit.

This is normal during consolidation period or accumulation phase . Alts (terrible coins) tend to do better during final blow off fomo phase of cycle.

Edited March 19, 2023 by ArgentSmith

[EdwardTeach]

4 minutes ago, SlugForAButt said:

I'll be interested to see what happens whith BTC.

I can't see them in charge letting an unregulated digital currency ruin their day.

They want to stop BTC but can they actually do it?

[ArgentSmith]

1 minute ago, EdwardTeach said:

They want to stop BTC but can they actually do it?

Simple answer impossible to stop even if "they" turn off the internet Bitcoin continues thanks to Blockstream satellite.

 

[GoldDiggerDave]

27 minutes ago, EdwardTeach said:

They want to stop BTC but can they actually do it?

Yes just keep ramping up the electricity bills to the point it cost more to mine than they are worth.......

[Zeuk]

2 minutes ago, GoldDiggerDave said:

Yes just keep ramping up the electricity bills to the point it cost more to mine than they are worth.......

Eventually new tech will break its value imo, something new may emerge but ... ceaser ciphers used to be valuable once, enigma etc ... 

[GoldDiggerDave]

8 minutes ago, Zeuk said:

Eventually new tech will break its value imo, something new may emerge but ... ceaser ciphers used to be valuable once, enigma etc ... 

Agree that's the issue with "tech"  theres always something new around the corner that will eat it alive.  

[SlugForAButt]

58 minutes ago, EdwardTeach said:

They want to stop BTC but can they actually do it?

Well, seeing as it's simply digits and has no tangible value, it's only worth what people think it's worth.

Bearing in mind that all transactions will be digital soon (USA govt says July for FedNow), it could become bloody hard for anyone to actually buy anything with it. It could possibly be left with nothing to exchange it for except other BTC? I can't see the local farmer accepting BTC for a few lumps of meat.

[EdwardTeach]

1 minute ago, SlugForAButt said:

Well, seeing as it's simply digits and has no tangible value, it's only worth what people think it's worth.

Bearing in mind that all transactions will be digital soon (USA govt says July for FedNow), it could become bloody hard for anyone to actually buy anything with it. It could possibly be left with nothing to exchange it for except other BTC? I can't see the local farmer accepting BTC for a few lumps of meat.

When people see how bad CBDCs are they might prefer to accept BTC instead. I know I would.

[Zeuk]

8 minutes ago, SlugForAButt said:

Well, seeing as it's simply digits and has no tangible value, it's only worth what people think it's worth.

Bearing in mind that all transactions will be digital soon (USA govt says July for FedNow), it could become bloody hard for anyone to actually buy anything with it. It could possibly be left with nothing to exchange it for except other BTC? I can't see the local farmer accepting BTC for a few lumps of meat.

Pretty much how it started, dodgy dude with stuff to sell on silkroad swapped it for money, less dodgy but somewhat reckless dude swapped a package for it then traded it back out.  It started as a black market currency and become something much different.

[MrStacker]

27 minutes ago, EdwardTeach said:

When people see how bad CBDCs are they might prefer to accept BTC instead. I know I would.

Unfortunately the masses will only come to the realisation on how bad CBDCs (entrapment) are when its too late! I hope I'm wrong but I'm not optimistic at present.

[jultorsk]

That's all. folks! 

--

https://www.ft.com/content/12cde8bc-ddac-48ef-8563-ff4007fa7e9f

Central banks announce new liquidity measures to ease banking crisis

The Federal Reserve and other global central banks have announced fresh measures to improve US dollar liquidity as global financial markets reel from the turmoil hitting the banking sector.

 

 

[Zhorro]

8 minutes ago, jultorsk said:

That's all. folks! 

--

https://www.ft.com/content/12cde8bc-ddac-48ef-8563-ff4007fa7e9f

Central banks announce new liquidity measures to ease banking crisis

The Federal Reserve and other global central banks have announced fresh measures to improve US dollar liquidity as global financial markets reel from the turmoil hitting the banking sector.

If it was that easy I'm sure they would have done this long before now!  They can only do so much before there are CONSEQUENCES - e.g. inflation? debt explosion?

https://www.zerohedge.com/markets/fed-panics-announces-coordinated-daily-us-dollar-swap-lines-ease-banking-crisis

I am sure Powell is looking forward to speaking later this week.

Edited March 19, 2023 by Zhorro
Extra info

[Darr3nG]

Doomed!

Don't forget to buy the dip!

[Zeuk]

Its quite impressive really that the banks manage to mess up their businesses with such regularity, in what other business are you given free money for pretty much nothing in return. So much complexity has been built ontop of the system i doubt anyone really understands it completely, pull a lever and hope for the best

[apachebleu]

4 hours ago, GoldenGriffin said:

 

We'll look back at £1,600 per oz and say, wow that was cheap! 

 Shame nobody looking at my current sales thread shares that sentiment

[Midasfrog]

It's dipping £1622  -0.75% 🙈 

[ArgentSmith]

[scotwasp]

No idea where gold will go next, I suspect within 4 or 5 week it will be a bit lower than where it is now, but While I buy for very long term reasons, I have never been more convinced that we will see real upwards movement over the next few years. As the petro dollar is negatively impacted by the BRICS the probability of Gold moving  upwards becomes ever more inevitable. 
then again, I might be suffering from wishful thinking 🤔 

[jultorsk]

Let's see what happens when USA opens. Meanwhile, here's your selection for the "next Credit Suisse" - any guesses, and why did you pick Intesa? 😁

 

 

Edited March 20, 2023 by jultorsk
other pic

[scotwasp]

Deutsche Bank, if not next, soon.   Ok, I admit no one will believe a German bank could ever be in trouble, but that’s my guess. 

[SidS]

11 hours ago, modofantasma said:

Or more like Tim Robbins escaping Shawshank Redemption?

Just over half a mile...

[SidS]

10 hours ago, flyingveepixie said:

 Def more to come I reckon. Keep an eye on First Republic too.

I read somewhere that JPM didn't have the funds to bail them out (or didn't want to commit to the levels required) either way, pretty telling.