Gold Monitoring Thread £ GBP only

[FriedrichVonHayek]

14 minutes ago, Earthmetal said:

Yes I'm aware of that, but 97% copper bronze is probably worth about 75% of what 999 copper is worth

Still by my reckoning according to this price 240 old Pennies would be worth around £11.50.

https://www.greengatemetals.co.uk/scrapmetal/Braziery Copper.html

[Earthmetal]

And probably make three times that on Ebay

[FriedrichVonHayek]

8 minutes ago, Earthmetal said:

And probably make three times that on Ebay

It's pretty sobering to think we have gone from Silver Pennies to Copper plated Steel, each new material introduced worth less than the previous one.

[Spyder]

18 minutes ago, FriedrichVonHayek said:

It's pretty sobering to think we have gone from Silver Pennies to Copper plated Steel, each new material introduced worth less than the previous one.

Do not forget paper with numbers on

[dicker]

If anyone is else watches Kitco’s prices you will see them moving even though the market is closed. Not by much, but they are moving.

Why is this?  Can I humbly suggest this is a result of punters placing orders with brokers over the weekend causing the price to flex in their systems (big buy order and the price goes up and vice versa).  Kitco is then taking a brokers price and publishing.

Any other ideas?

[Spyder]

2 minutes ago, dicker said:

If anyone is else watches Kitco’s prices you will see them moving even though the market is closed. Not by much, but they are moving.

Why is this?  Can I humbly suggest this is a result of punters placing orders with brokers over the weekend causing the price to flex in their systems (big buy order and the price goes up and vice versa).  Kitco is then taking a brokers price and publishing.

Any other ideas?

I think some has to do with currency as that market is open. 

https://tradingeconomics.com/united-kingdom/currency

[NGMD]

10 minutes ago, Spyder said:

I think some has to do with currency as that market is open. 

https://tradingeconomics.com/united-kingdom/currency

Is that the sound of a microphone being dropped😁

[dicker]

17 minutes ago, Spyder said:

I think some has to do with currency as that market is open. 

https://tradingeconomics.com/united-kingdom/currency

Good idea.  Will check on Sat / Sun when the FX market is closed.   Thanks!

[Earthmetal]

1 hour ago, FriedrichVonHayek said:

It's pretty sobering to think we have gone from Silver Pennies to Copper plated Steel, each new material introduced worth less than the previous one.

Very yes. Even our 5p & 10p are now coated steel...

I heard a good comment the other day from an American source, something like "In 1969 a Quarter would by a gallon of gas. Today that same Quarter would still buy a gallon of gas".

[SlugForAButt]

6 hours ago, flyingveepixie said:

The Saudis turning their backs on the US, both in terms of oil production and militarily, is a pretty big thing which isn't really being reported.  BRICS is also becoming ever more prominent which is another big thing, and ongoing.

ANZ bank in Australia is also making moves to try to ban cash..

Indeed. The BRICS nations buying large quantities of gold, while at the same time de-dollerising and setting up a commodities based currency will have a huge effect on the value of the dollar. In effect, some BRICS countries & Saudis already trading with each other using their own currencies instead of the dollar will make the dollar redundant, and all those trillions of dollars round the world could well come back home to the U.S, creating hyperinflation.

I believe this is why we are seeing the U.S. ramping up the miltary rhetoric against countries like China, Russia, Iran & Mexico in the same way they did against Gadaffi, who was planning the African Gold Dinar as an African currency to trade oil. I mean, Jesus, that idiot Biden has already threatened Saudi Arabia with "consequences".

 

Edited April 7, 2023 by SlugForAButt

[FriedrichVonHayek]

31 minutes ago, SlugForAButt said:

Indeed. The BRICS nations buying large quantities of gold, while at the same time de-dollerising and setting up a commodities based currency will have a huge effect on the value of the dollar. In effect, some BRICS countries & Saudis already trading with each other using their own currencies instead of the dollar will make the dollar redundant, and all those trillions of dollars round the world could well come back home to the U.S, creating hyperinflation.

I believe this is why we are seeing the U.S. ramping up the miltary rhetoric against countries like China, Russia, Iran & Mexico in the same way they did against Gadaffi, who was planning the African Gold Dinar as an African currency to trade oil. I mean, Jesus, that idiot Biden has already threatened Saudi Arabia with "consequences".

 

The USA is like an ageing Tough guy who has been throwing his weight around in the local Pub for years, he's not what he once was and a few of the cheesed off regulars now fancy their chances.

[SidS]

11 hours ago, Earthmetal said:

Very yes. Even our 5p & 10p are now coated steel...

I heard a good comment the other day from an American source, something like "In 1969 a Quarter would by a gallon of gas. Today that same Quarter would still buy a gallon of gas".

Probably a 1964 quarter.

[SidS]

9 hours ago, SlugForAButt said:

Biden has already threatened Saudi Arabia with "consequences".

Biden probably needs to be reminded several times a day that he is the president.

[GoldDiggerDave]

9 hours ago, SlugForAButt said:

Indeed. The BRICS nations buying large quantities of gold, while at the same time de-dollerising and setting up a commodities based currency will have a huge effect on the value of the dollar. In effect, some BRICS countries & Saudis already trading with each other using their own currencies instead of the dollar will make the dollar redundant, and all those trillions of dollars round the world could well come back home to the U.S, creating hyperinflation.

I believe this is why we are seeing the U.S. ramping up the miltary rhetoric against countries like China, Russia, Iran & Mexico in the same way they did against Gadaffi, who was planning the African Gold Dinar as an African currency to trade oil. I mean, Jesus, that idiot Biden has already threatened Saudi Arabia with "consequences".

 

Do you not find it strange that  theres almost been media silence about China brokering the peace deal between Saudi Arbia and Iran?  They have been at each other for generations.  If this was the US the ambassadors and mediators would all be up for the next nobel peace prise.   

[bobski]

14 minutes ago, GoldDiggerDave said:

Do you not find it strange that  theres almost been media silence about China brokering the peace deal between Saudi Arbia and Iran?  They have been at each other for generations.  If this was the US the ambassadors and mediators would all be up for the next nobel peace prise.   

Obama got the peace prize, and during his regime he oversaw 7 wars (5 of which he started). He also drone striked American citizens at civilian locations on foreign soil in countries that he wasn't even at war with (with no trial prior).

 

Western media is controlled by a handful of people. People with an agenda.

[SidS]

Tony Blair was a peace envoy for the Middle East. He also won best US lapdog at Crufts - no wait... That second bit didn't happen. 😁

Edited April 8, 2023 by SidS

[MetalMandible]

15 hours ago, FriedrichVonHayek said:

It's pretty sobering to think we have gone from Silver Pennies to Copper plated Steel, each new material introduced worth less than the previous one.

Be thankful you at least get copper plated steel... Here in the U.S., our pennies are made out of copper plated bull💩.

[SlugForAButt]

2 hours ago, GoldDiggerDave said:

Do you not find it strange that  theres almost been media silence about China brokering the peace deal between Saudi Arbia and Iran?  They have been at each other for generations.  If this was the US the ambassadors and mediators would all be up for the next nobel peace prise.   

It seems the Chinese (whatever the media tell you about them) are far more iterested in brokering deals without the use of threats, and doing their best to create better relations between countries instead of the Western policy of dividing them and picking a side to support. There will be many winners out of this Chinese policy, namely the countries involved. In the meantimem, the West will be the region to suffer from united "producers" being able to support themselves without the need for Western "consumers" financial or military support.

And let's be honest, the West's miltary support doesn't mean much any more as shown in Ukraine. If the West can't out manufacture Russia alone in weapons, how the hell could they even dream of competing with China? Far better for the BRICS wannabes to ally with the rising powers that are moving from FIAT to commodities based currency. That's one of the reasons I stack now.

Even the Saudis, Indians & Japanese are breaking away from Western influence which tells me the game is up.

[SidS]

The West is like an injured animal backed into a corner, lots of snarling, lots of biting - no change in circumstances.

[Petra]

Not so much countries breaking away from one side or the other, but playing off one side or the other to get what they want. Nothing new. China has been using trade to spread their influence for years, was mainly in Africa but have now spread their wings. 

[SlugForAButt]

8 minutes ago, Petra said:

Not so much countries breaking away from one side or the other, but playing off one side or the other to get what they want. Nothing new. China has been using trade to spread their influence for years, was mainly in Africa but have now spread their wings. 

True. But China using trade so gain international influence is far more preferable to the West using military threats and toppling governments for their own ends.

Don't get me wrong, the Chinese aren't engaging in a BRICS love fest for free, they're going to do well out of it financially. But it's also going to benefit all these countries on the belt & road, and the countries who's infrastructure is being improved. How many countrie's infrastructures have been improved under the U.S. hegemony? The U.S. seems to rely keeping countries poor so they are dependent on the U.S.

[HonestMoneyGoldSilver]

8 hours ago, GoldDiggerDave said:

Do you not find it strange that  theres almost been media silence about China brokering the peace deal between Saudi Arbia and Iran?  They have been at each other for generations.  If this was the US the ambassadors and mediators would all be up for the next nobel peace prise.   

What is achieved is not important, what counts is who achieved it and what their pronouns are. The Trump Administration managed some pretty huge peace deals. No Nobel Prizes for Trump but yes to Obama who failed where Trump succeeded:

What Media Won't Tell You About Trump's Middle East Peace Deal (thefederalist.com)

Trump's Legacy of Peace | Opinion (newsweek.com)

-----------------------------------------------------------------

What for so long eluded presidents from Dwight D. Eisenhower to Barack Obama seems to have come effortlessly to President Donald Trump. In the space of just four months, together with Israeli Prime Minister Benjamin Netanyahu, Trump has achieved four peace deals between Israel and Arab states—twice the number achieved by all his predecessors combined. Last Thursday, Trump announced Morocco has joined the United Arab Emirates (UAE), Bahrain and Sudan in the Abraham Accords normalization agreements with Israel

Trump's sundry Middle East peace deals are humiliating for his predecessors. Not only did they fail where Trump has succeeded, but they insisted that his achievements were impossible.

For instance, John Kerry, who as Barack Obama's secretary of state oversaw the administration's failed Middle East peace efforts, insisted back in 2016: "There will be no separate peace between Israel and the Arab world."

Speaking at the Brookings Institution, Kerry continued emphatically:

"I want to make that very clear with all of you. I've heard several prominent politicians in Israel sometimes saying, 'Well, the Arab world is a different place now. We just have to reach out to them. We can work some things with the Arab world and we'll deal with the Palestinians.' No. No, no, no and no. ...There will be no advanced and separate peace with the Arab world without the Palestinian process and Palestinian peace. Everybody needs to understand that. That is a hard reality."

8 hours ago, bobski said:

Obama got the peace prize, and during his regime he oversaw 7 wars (5 of which he started). He also drone striked American citizens at civilian locations on foreign soil in countries that he wasn't even at war with (with no trial prior).

 

Western media is controlled by a handful of people. People with an agenda.

Obama got a Nobel Prize due to the colour of his skin and his acceptance of gay marriage, which, like Joe Biden, he once denounced as unnatural:

 

[ChrisSilver]

Please keep this topic on track and use the non PM section of the forum if wanting to discuss politics etc in further detail. 

This topic is for monitoring the Gold Price in GBP only. 

[HonestMoneyGoldSilver]

So what are we saying the market is doing on Monday/Tuesday? Is this bank holiday in any way similar to 1933 or a non-event? I feel as if we're going higher and will test gold's ATH this week or soon after. As someone somewhere in this thread said (paraphrasing): "We should keep buying even at these prices. People said the same thing, that gold was expensive, when gold was at £300, £500, £1000, £1300 ..... yet we would bite your hand off for gold at those prices now, right?"

Edited April 8, 2023 by HonestMoneyGoldSilver
Tuesday

[GoldDiggerDave]

26 minutes ago, HonestMoneyGoldSilver said:

So what are we saying the market is doing on Monday/Tuesday? Is this bank holiday in any way similar to 1933 or a non-event? I feel as if we're going higher and will test gold's ATH this week or soon after. As someone somewhere in this thread said (paraphrasing): "We should keep buying even at these prices. People said the same thing, that gold was expensive, when gold was at £300, £500, £1000, £1300 ..... yet we would bite your hand off for gold at those prices now, right?"

£1600 is looking like the new support level now.  I'm still trying see at what point higher interest rates will start to have a negative effect on gold.  However we are in bizarre times and less people have faith in the banks so we could have the perfect scenario interest rates keep on rising and it doesn't have an impact on gold and that keep on rising......what's not to like about that? 

£1850-£1900 for the end of this year is not looking unrealistic