Gold Monitoring Thread £ GBP only

[Paul]

6 minutes ago, SidS said:

$400oz

I've heard that figure thrown around somewhere before.

who said such a pearl of wisdom ?? 

[bluemoon]

1 hour ago, watchesandwhisky said:

Without wanting to be a downer in this exciting time for many, a few observations...

When doing some early morning shopping on my day of today I heard three builders walking round Tesco's talking about buying gold bullion, when I'm at work I regularly hear a radio ad saying "golds gone galactic" and offering to buy your gold.. When delivering the mail I recently saw a leaflet drop to over 800 houses offering to buy any gold and silver or old watches and medals.. When I was delivering mail at a residential park home two blokes were going door to door trying to buy gold. 

This is precisely what I saw happen back in 2012 before a rather large price reversal of 35% ish over the next two years. 

A lot has happened since 2012, past performance is not indicative of future performance ect - Just an observation. 

 

I had a similar post all written out last Thursday then decided against posting it because I didn't want to be the miserable git spoiling the party! But now that you've given me cover, we can do a little crossfire...

Yes the hype I'm seeing in public is familiar to the last bubble. The optimism on this forum reminds me of the Kitco forums when I was on there after the 2011 bubble burst. There was huge anguish and despair from people who bought at the top and were losing their money. I even remember one thread title on there that was "AAAGGGGHHHHHH!!!!!" - That's how painful it is to lose money after you jumped on the bandwagon. I've seen this sheepy FOMOness not only in silver in 2011 but also twice in Bitcoin's 2 bubbles so far.

Lesson here is be sensible, don't celebrate and don't have visions of buying a mansion just yet. Keep making money and putting it into the gold safe haven using cost averaging.

I'll get my coat!

[Paul]

46 minutes ago, Paul said:

who said such a pearl of wisdom ?? 

. .  . . . Was it Harry Dent ? 

[flyingveepixie]

1 hour ago, SilverDrum said:

Helps if people can read charts with some basic competence. 

Of course!  It says NYSE on it clearly enough.  Sometimes the old brain is a bit numb in the mornings. I blame it on the bottle of Shepherd Neame 1698 and the accompanying two (large-ish) nips of whisky last night..🥴🍺

Edited March 20, 2023 by flyingveepixie

[Goldfever20]

2 hours ago, watchesandwhisky said:

Without wanting to be a downer in this exciting time for many, a few observations...

When doing some early morning shopping on my day of today I heard three builders walking round Tesco's talking about buying gold bullion, when I'm at work I regularly hear a radio ad saying "golds gone galactic" and offering to buy your gold.. When delivering the mail I recently saw a leaflet drop to over 800 houses offering to buy any gold and silver or old watches and medals.. When I was delivering mail at a residential park home two blokes were going door to door trying to buy gold. 

This is precisely what I saw happen back in 2012 before a rather large price reversal of 35% ish over the next two years. 

A lot has happened since 2012, past performance is not indicative of future performance ect - Just an observation. 

 

It's going back down to $400/oz!!! Sell, sell, sell😅

[EdwardTeach]

2 hours ago, artalien said:

"Meanwhile, six of the world's biggest central banks are working together to keep credit flowing by boosting the flow of US dollars" BBC

Does this mean more "printing" more inflation?

Yes this will be massively inflationary over the next 6 months to 2 years.

[Smiler999]

*sighs* buys gold at 1622, drops to 1616 FML 

[MBTPSilver]

2 hours ago, KevjustKev said:

Why the big price difference from dealers buying gold? 

As of now, sov's

Atkinsons -  £385.94

Chards - £388.31

HGM - £366.57

Sharps Pixley - £379-382

Apart from a few quid here and there HGM £20 less, ideas?

Each dealer has their own costs, and the profit they want to make. If you're a small operation taking a few sales a day, and only need a couple of people to process it that won't cost you a whole lot, and you might offer 100% of spot for such a popular coin.

If you're one of the big boys employing many people each one has a salary to be paid that will result in offering a lower buy back rate.

HGM are in London so they're already paying loads more just for a shop and staff in that location alone, so again they'll offer an even lower buy back rate.

[KevjustKev]

4 minutes ago, MBTPSilver said:

Each dealer has their own costs, and the profit they want to make. If you're a small operation taking a few sales a day, and only need a couple of people to process it that won't cost you a whole lot, and you might offer 100% of spot for such a popular coin.

If you're one of the big boys employing many people each one has a salary to be paid that will result in offering a lower buy back rate.

HGM are in London so they're already paying loads more just for a shop and staff in that location alone, so again they'll offer an even lower buy back rate.

HGM are a larger company, yet the shop is a lot smaller than Sharps Pixley, and in need of a good lick of paint. But £14 for a sov, and difference of only 2 miles, wouldn't think the business rates would make much difference

[Orpster]

.

Edited March 20, 2023 by Orpster

[MBTPSilver]

11 minutes ago, KevjustKev said:

HGM are a larger company, yet the shop is a lot smaller than Sharps Pixley, and in need of a good lick of paint. But £14 for a sov, and difference of only 2 miles, wouldn't think the business rates would make much difference

Hence the "and the profit they want to make." Next step would be what are they selling those second hand Sovs on for. Are HGM selling them cheaper than the others? I suspect not, so it will either be hidden costs, or they just want to make more on each coin while they can. It's part of why I wouldn't bother with London dealers, already paying extra just for the city name.

[bluemoon]

Forgive my ignorance but are HGM the same as Bairds or is is just coincidence that Bairds are in Hatton Garden?

[Paul]

1 minute ago, bluemoon said:

Forgive my ignorance but are HGM the same as Bairds or is is just coincidence that Bairds are in Hatton Garden?

Baird's and sharps pixley are far bigger than HGM both are approved LBMA refiners German firm degussa own sharps  

 

 

[MrStacker]

4 hours ago, GoldDiggerDave said:

I know how your feel, I'm gonna get strung buying the next gold bullion TB for my sets.    Luckily I loaded up on the TB Loin 1oz golds😁   The problem is that if you wait you will end up waiting forever.  If you have it and can afford it then keep on buying..........does It really matter if you paid £197 or £215 for a sovereign back in 2017?  

ITS GOING DOWN DAVE. I can ...maybe afford yellow shinies again!

Very sooooooooooooon! 

Totally agree with you mate. It’s easy to think backwards with gold and dwell on the past but it’s always been a long term game for me and like many others 😉

 

It’s going doooooooooown!
 

“Awaiting stock, out of stock, orderable” messages here I come! 
 

 

[Smiler999]

I'm just consoling myself that even with my latest shafting my average cost per oz is still lower than spot 🙏

[SidS]

22 minutes ago, MrStacker said:

ITS GOING DOWN DAVE. I can ...maybe afford yellow shinies again!

Very sooooooooooooon!

I've looked into my crystal ball and from the mists came this image:

 

 

 

Edited March 20, 2023 by SidS

[Paul]

The rocket ship to da'moon hasn't continued today 

[MBTPSilver]

Markets seem somewhat placated today by the Credit Suisse rescue, and the fact that not too many companies have drawn on the liquidity funds made available by central banks last night. It's going to depend on the next couple days now really. If any more banks collapse under the numerous withdrawals from investors and customers then it could make some more progress.

It could slip back below £1,600 today/tomorrow if there's no more bad news in the banking world.

[AuricGoldfinger]

£1600? Dirt cheap!

[Stacktastic]

1 hour ago, Paul said:

The rocket ship to da'moon hasn't continued today 

Credit Suisse was force bought out over the weekend. 
Gold and silver were on a pretty heavy pull back anyway, so may continue harder if all this banking stuff clears up.  
Markets are very quiet - I choose a great day to start a day trading career - Im bored to tears. 😛 

I can potentially see a lot of the money moving back from the tech plays into the banks again by the end of there week. 
& gold back to £1580 ish. Its been fabulous to watch as it shows the true power of gold - not witnessed that yet (started in 2020). 

I can see £4-5,000 gold before too long actually, but what do I know - continually catches me out, but its usually a great buying opportunity..  

Edited March 20, 2023 by Stacktastic

[MancunianStacker]

3 hours ago, SidS said:

I've looked into my crystal ball and from the mists came this image:

 

 

 

Ah yes, the World Central Bank spy / troll 🧌 😂 Remember that one well 🤣 

[Roy]

4 minutes ago, MancunianStacker said:

Ah yes, the World Central Bank spy / troll 🧌 😂 Remember that one well 🤣 

I wish he'd show his face again!

@sixgun promises he won't go down too hard on him 🤣

[LemmyMcGregor]

3 hours ago, SidS said:

I've looked into my crystal ball and from the mists came this image:

 

 

 

I've looked into mine, but they're not crystal all I've seen was a bit of hair, not sure how to interpret that.

[Cityman1]

Let's get back on topic now. This is the gold monitoring thread. So whilst monitoring them, did you notice if they were golden..

[Petra]

4 hours ago, MBTPSilver said:

Each dealer has their own costs, and the profit they want to make. If you're a small operation taking a few sales a day, and only need a couple of people to process it that won't cost you a whole lot, and you might offer 100% of spot for such a popular coin.

If you're one of the big boys employing many people each one has a salary to be paid that will result in offering a lower buy back rate.

HGM are in London so they're already paying loads more just for a shop and staff in that location alone, so again they'll offer an even lower buy back rate.

Be really stupid and try selling one in a pawn shop!😮