Gold Monitoring Thread £ GBP only

[HawkHybrid]

 

my thinking also is if it can form a 1-5 making a larger 1st wave

after the completion of a-c then there's likely to be an overall

move up for a bit.

 

HH

[silverdocket]

still falling hit 1015e 1oz today

if it falls below 1000 i might just buy some......

[HawkHybrid]

https://www.gold-eagle.com/article/gold-price-new-bull-or-same-old-bear

 

HH

[dicker]

What happened today...? Up 1.71pct when I last looked

[BackyardBullion]

11 minutes ago, dicker said:

What happened today...? Up 1.71pct when I last looked

News from Italy about euro scepticism

[dicker]

Thanks - had not clocked that

[Tingles]

Email received from Bullion By Post Gold price rallies as Italy threatens to leave the Euro The price of gold shot up today by more than 2% following claims from one of Italy’s governing parties that it would be better off leaving the Euro, rather than following European Central Bank rules. Gold gained £18.59 per ounce in Sterling to reach £931.16 per ounce, while the price in US Dollars rose by $17.65 (1.49%) to $1,205.74 - softened by yesterday's trade deal. Speaking on national radio, Claudio Borghi – responsible for the Lega Party’s economic policy – said: "I am truly convinced that Italy would solve most of its problems if it had its own currency". There are serious concerns over Italy’s commitment to repaying its large debts, with Hamburg's Berenberg Bank citing Italy’s debt as their biggest homegrown risk since 2016. The fear is that Italy's slower approach to debt repayment - instead prioritising public spending - may lead to a bailout, like in Greece, or worse: Italy might even default on their debt and abandon the Euro.   The European markets were down today, with investors quickly switching from stocks to gold bullion ready to protect their funds in the event of any debt crisis. The recent low gold price has made the metal more tempting, with sudden demand resulting in today's price surge. Gold looks set to continue its gains against a weak Pound as business leaders and investors criticise the UK's lack of progress towards a Brexit deal, warning that manufacturing, construction, and even food supplies could all stop until deals are struck.

[dicker]

EUR won’t survive I am sure.  Politics and national necessity will mean countries bomb out. 

[silverdocket]

14 minutes ago, dicker said:

EUR won’t survive I am sure.  Politics and national necessity will mean countries bomb out. 

there all fecked.....its only a matter of time now..... 

[dicker]

It is I think. 

[GrahamDiamond]

I am still sticking to my Prediction: Gold  £1,000 ounce by Christmas Coinster,s !!!!!!!!

[HawkHybrid]

https://www.silver-phoenix500.com/gold-price-sees-modest-gains-us-stock-market-sell-accelerates

 

gold is holding it's own against problems with bond yields.

if this continues to hold true moving forward maybe we've

seen or are close to seeing a multi month low in the gold

price.

 

HH

[Mike]

For us Brits though, the strengthening of sterling is offsetting any USD gains in the value of gold.  I'm absolutely certain that there is lots of uncertainty ahead...

Edited October 11, 2018 by Mike

[FFkook]

Anyone knows why the gold price did this big rise today? Any known reasons for it?

[mondy41]

3% share drop on Wednesday plus bonds were also hit

[Prometheus]

12 hours ago, FFkook said:

Anyone knows why the gold price did this big rise today? Any known reasons for it?

Bad day for stocks worldwide. Gold up 3% in dollar. 

[GrahamDiamond]

Stock Markets have gone back to a more true level of value, so Punters flock to Gold.

[FFkook]

Hmm, what do you guys think about it, a temporary rise or could this be the change of things?

[HawkHybrid]

bond yields have broken the multi year down trend. money should

begin to flow away from bonds(why take a losing position?). of the

available choices gold looks the best option currently. the dollar

has the risk that if inflation is causing bond yields to rise then

holding cash is probably worse than holding gold.

my guess is overall, gold is more likely to move up or sideways

from this point than down.

 

HH

[mr-dead]

2 minutes ago, HawkHybrid said:

bond yields have broken the multi year down trend. money should

begin to flow away from bonds(why take a losing position?). of the

available choices gold looks the best option currently. the dollar

has the risk that if inflation is causing bond yields to rise then

holding cash is probably worse than holding gold.

my guess is overall, gold is more likely to move up or sideways

from this point than down.

 

HH

You forget logic no longer applies to the markets and its all a big fix.

[HawkHybrid]

follow the money. you can't sell us bonds and not receive dollars.

 

HH

[Martlet]

4 hours ago, FFkook said:

Anyone knows why the gold price did this big rise today? Any known reasons for it?

As well as other reasons suggested, strong buy technical signal, cross over of 20 and 50 day moving averages occurred yesterday. 

[Bumble]

I think it would be rash to suppose that last Thursday's sharp rise in gold and silver means that these prices are now off to the races. These were short term moves in response to falls in the stock markets, which made investors jittery. The significant thing is that it was gold and silver that caught the money moving out of stocks. The money could have gone into bonds, cryptos, or dollars, but it didn't: these all went down too. Gold is still holding up as the safe haven asset of choice.

[HawkHybrid]

why did gold rise this time(silver rose cos gold rose)?

imo there is a treasury bonds problem. the last time it went

to ~3% yield on 10 year notes, gold fell with the stock market

(feb 2018). I believe the difference this time is that 10 year

yields broke their down trend. people who sold bonds put

their money into gold. this could be a sign of things to come.

the coming few weeks should be interesting.

(I think stocks sell off went into bonds)

 

 

HH

Edited October 13, 2018 by HawkHybrid

[AuricGoldfinger]

Gold seems to just keep creeping up these last week or two!