Gold Monitoring Thread £ GBP only

[ZRPMs]

To da Moooooooooooooon

[Paul]

To da'mooooooooooooonn!!! Back through £1600oz 

Yay first Republics demise.

£2000oz here we come, Choo Choo !! 

[Upsidedown]

Relax guys, we still have that 400/oz dip coming

[CaptCaveMan]

Should've...

[Paul]

13 minutes ago, CaptCaveMan said:

Should've...

I bought the dip but it was a coronation SOTD and a 2oz gold from RM 

[Paul]

19 minutes ago, Upsidedown5318008 said:

Relax guys, we still have that 400/oz dip coming

He never said when it would happen, it wouldn't be a straight line 

 

[Paul]

What's the reason for the +2% spike up today ???

First Republic collapse or is it anything else ??

[Upsidedown]

3 minutes ago, Paul said:

What's the reason for the +2% spike up today ???

First Republic collapse or is it anything else ??

No idea, with the fed expected to raise rates tomorrow I thought gold would trade sideways for at least this week.

Don't think it would be First Republic because the markets would have already reacted to that days ago.

In short no one seems to know, it might just be a fluctuation and the price might spike back down (perhaps as far as 400 🤣)

I have a theory though, I'm getting paid in a couple days and have my eye on an oz of gold. So that's probably why.

[SeverinDigsSovereigns]

8 minutes ago, Paul said:

What's the reason for the +2% spike up today ???

First Republic collapse or is it anything else ??

Maybe the expectation of PacWest and Western Alliance being the next

[Upsidedown]

2 minutes ago, SeverinDigsSovereigns said:

Maybe the expectation of PacWest and Western Alliance being the next

I heard cormerica is next, apparently they're getting hammered right now

[HonestMoneyGoldSilver]

1 hour ago, flyingveepixie said:

OK, I give up.  What's driving it up today then..? 

I can't find anything obvious and I'm sure it's not uncerrtainty over the bloody local council elections..

It's weird. If it repeats yesterday and gold/silver have a mini boom then reverse it all in the space of a few mins, that would be very suspicious

I have three guesses:

1) Speculation the Fed won't raise rates tomorrow which would be very bullish for gold

2) Our friends at JPM, Comex and LBMA are pumping the price today in preparation for the big short tomorrow when the Fed does raises rates

3) Market reaction to First Republic and wider contagion such as to PacWest or Western Alliance as @SeverinDigsSovereigns said

Regardless if gold is still > $2000 (£1605) by close tomorrow that is a seriously bullish indicator for gold (and silver)

[GoldDiggerDave]

14 minutes ago, Paul said:

What's the reason for the +2% spike up today ???

First Republic collapse or is it anything else ??

FED looks likely will hike the interest rates 

[LemmyMcGregor]

37 minutes ago, CaptCaveMan said:

Should've...

We are, with inflation as it is, £1,600 IS THE DIP 

[flyingveepixie]

14 minutes ago, Upsidedown5318008 said:

Don't think it would be First Republic because the markets would have already reacted to that days ago.

yeah I agree with that. JP Morgan Chase bought it out yesterday I think. That's why I never mentioned it earlier. It doesn't seem that relevant to today's movement.

[SeverinDigsSovereigns]

9 minutes ago, Upsidedown5318008 said:

I heard cormerica is next, apparently they're getting hammered right now

They're all queueing up. But it will be harder for JPM to buy another for antitrust reasons. And when the buyers run out...

[gji25]

the price rise is all to do with the right alignment of the stars 😃

 

 

[Midasfrog]

[CANV]

They said in 2008,  that with bank bail outs being done as they were, everyone in America would end up banking with JP Morgan 

well that’s coming along nicely.  With zero  ‘state based’ banking in the Uk we are not as exposed to this lunacy .

golds up on the back of this, there will be another bank next week. America has thousands of em 

[EdwardTeach]

Pac West Bank or Pacific Western Bank may be the next banking failure.

 

 

[HonestMoneyGoldSilver]

7 hours ago, HonestMoneyGoldSilver said:

It's weird. If it repeats yesterday and gold/silver have a mini boom then reverse it all in the space of a few mins, that would be very suspicious

I have three guesses:

1) Speculation the Fed won't raise rates tomorrow which would be very bullish for gold

2) Our friends at JPM, Comex and LBMA are pumping the price today in preparation for the big short tomorrow when the Fed does raises rates

3) Market reaction to First Republic and wider contagion such as to PacWest or Western Alliance as @SeverinDigsSovereigns said

Regardless if gold is still > $2000 (£1605) by close tomorrow that is a seriously bullish indicator for gold (and silver)

Looks like the answer was 1) - Speculation the Fed won't raise rates today. That would be a huge surprise to me but check this out at 17:30 onwards:

 

 

[flyingveepixie]

7 hours ago, EdwardTeach said:

Pac West Bank or Pacific Western Bank may be the next banking failure.

 

 

Looks familiar huh......🤔

 

[LemmyMcGregor]

15 minutes ago, flyingveepixie said:

Looks familiar huh......🤔

 

Buy the dip 🤣

[GoldDiggerDave]

I do see it a lot with silver stackers, we seam to get some almost wishing for armageddon a collapse of the economic system.  Will your stack save you.....really?  

You lose your job, you or your landlord  defaults on the mortgage and you are turfed out , basic services collapse..........  how much would your stack have to be really worth to get you though this?  And that's if  whats left of the economic system will allow you to liquidate it.....Think about that for a moment, you get what you wish for an economic collapse and there is no system for you to liquidate your PM's as the very same system you hope will fail is the only system that allows you to liquidate your gold.   How's @James32 Supposed to buy it from you at £6000 per oz?  

I do think holding PM's gives some people a very false sense of security. 

Just a thought for the day! 

 

 

 

 

[Frenchie]

5 hours ago, GoldDiggerDave said:

I do see it a lot with silver stackers, we seam to get some almost wishing for armageddon a collapse of the economic system.  Will your stack save you.....really?  

You lose your job, you or your landlord  defaults on the mortgage and you are turfed out , basic services collapse..........  how much would your stack have to be really worth to get you though this?  And that's if  whats left of the economic system will allow you to liquidate it.....Think about that for a moment, you get what you wish for an economic collapse and there is no system for you to liquidate your PM's as the very same system you hope will fail is the only system that allows you to liquidate your gold.   How's @James32 Supposed to buy it from you at £6000 per oz?  

I do think holding PM's gives some people a very false sense of security. 

Just a thought for the day! 

 

 

 

 

Definitely...what would be this world with silver at 300$ or gold at 10000 or 50000$.... probably chaos with total collapse of money, of economy that would lead to poverty, violence and wars. People imagine that they would live quietly and securely in their bunker of silver and gold and keep their standard of living as nothing had happened. ..So be careful what you wish for.   

Some PM coins would help you a little bit in some circumstances but gold and silver would only make sens when the collapse is over and useful to rebuild a new world

Edited May 3, 2023 by Frenchie

[flyingveepixie]

44 minutes ago, GoldDiggerDave said:

I do see it a lot with silver stackers, we seam to get some almost wishing for armageddon a collapse of the economic system.  Will your stack save you.....really?  

You lose your job, you or your landlord  defaults on the mortgage and you are turfed out , basic services collapse..........  how much would your stack have to be really worth to get you though this?  And that's if  whats left of the economic system will allow you to liquidate it.....Think about that for a moment, you get what you wish for an economic collapse and there is no system for you to liquidate your PM's as the very same system you hope will fail is the only system that allows you to liquidate your gold.   How's @James32 Supposed to buy it from you at £6000 per oz?  

I do think holding PM's gives some people a very false sense of security. 

Just a thought for the day! 

 

 

 

 

You're totally right.  At best a stack is a store of wealth which will see you through certain crises, like a period of high inflation or a war (provided you have a safe haven to run to and come out the other end of it intact) but not others, like a complete economic collapse or reset deliberately caused by government or rogue bankers.  Think CBDC - programmable currency under complete control of central banks.   In that case you'll be stitched up

Edited May 3, 2023 by flyingveepixie