Gold Monitoring Thread £ GBP only

[Bars]

4 minutes ago, HonestMoneyGoldSilver said:

😂

Your wife is in me DMs

Taking @Leonmarshs pants down moniker to another level

[HonestMoneyGoldSilver]

@Leonmarsh @Midasfrog

Gold and silver are going down in price until early June (next Fed meeting 14th June) or July if the Fed actually hikes on 14th June, which I think they will. Thus the buying window for cheap gold (and silver) is between now and early June/July. When it becomes clear the Fed has paused and will pivot, prices will start to rise then rocket when the cuts actually happen. That will be taking place towards the end of 2023 and we will see £1800 gold before the year is out. I made that prediction (calling this current dip and future price action) a month ago in either this thread or the silver thread, possibly both 😂. The official declaration of the recession we're already in should also occur between now and July, further pushing down gold but especially silver. Historically even without these pressures, gold and silver trade at their low points in the summer months. So BTD and reap the rewards towards the end of 2023 and all throughout 2024

[SlowFrog]

32 minutes ago, HonestMoneyGoldSilver said:

@Leonmarsh @Midasfrog

Gold and silver are going down in price until early June (next Fed meeting 14th June) or July if the Fed actually hikes on 14th June, which I think they will. Thus the buying window for cheap gold (and silver) is between now and early June/July. When it becomes clear the Fed has paused and will pivot, prices will start to rise then rocket when the cuts actually happen. That will be taking place towards the end of 2023 and we will see £1800 gold before the year is out. I made that prediction (calling this current dip and future price action) a month ago in either this thread or the silver thread, possibly both 😂. The official declaration of the recession we're already in should also occur between now and July, further pushing down gold but especially silver. Historically even without these pressures, gold and silver trade at their low points in the summer months. So BTD and reap the rewards towards the end of 2023 and all throughout 2024

I don't agree. Gold is going down the shitter! You'll all panic if you know what's good for you. Sell, sell, sell everyone!

By the way, I'm buying at the moment so if anyone has any good deals just let me know 

[EdwardTeach]

Doomed?

[Paul]

1 hour ago, SlowFrog said:

I don't agree. Gold is going down the shitter! You'll all panic if you know what's good for you. Sell, sell, sell everyone!

Wonga ? Is that you have you rejoined

Nice to see you back, keep the faith ! 

[Paul]

1 hour ago, EdwardTeach said:

Doomed?

$400oz next step, a special forum advisory consultant of many years told me. Dooooooooooommmed 100%

 

[Upsidedown]

If gold does ever hit 400 wonger will be back descending down from heaven on a white stallions back complete with flaming sword to rag all your arses around this forum lmao

[Dazlenk]

6 minutes ago, Upsidedown5318008 said:

If gold does ever hit 400 

If this ever happens 🤔 I'll be spending every last pound I can get my grubby little hands on. If that means I have to shake my mum upside down to get the last of her small change then hey ho needs must, I'm sure she'll thank me, ummm eventually. 🤣

[Paul]

2 minutes ago, Dazlenk said:

If this ever happens 🤔 I'll be spending every last pound I can get my grubby little hands on. If that means I have to shake my mum upside down to get the last of her small change then hey ho needs must, I'm sure she'll thank me, ummm eventually. 🤣

I did that at 1500oz

[Leonmarsh]

3 hours ago, HonestMoneyGoldSilver said:

😂

Your wife is in me DMs

Your wife is at the rugby club in Rhyl doing yoga 

[bobski]

29 minutes ago, Paul said:

I did that at 1500oz

You should never shake other peoples mothers, no matter spot price

[Dazlenk]

2 minutes ago, bobski said:

You should never shake other peoples mothers, no matter spot price

Apparently she liked it 🤷‍♂️

[SidS]

11 hours ago, HonestMoneyGoldSilver said:

@Leonmarsh @Midasfrog

Gold and silver are going down in price until early June (next Fed meeting 14th June) or July if the Fed actually hikes on 14th June, which I think they will. Thus the buying window for cheap gold (and silver) is between now and early June/July. When it becomes clear the Fed has paused and will pivot, prices will start to rise then rocket when the cuts actually happen. That will be taking place towards the end of 2023 and we will see £1800 gold before the year is out. I made that prediction (calling this current dip and future price action) a month ago in either this thread or the silver thread, possibly both 😂. The official declaration of the recession we're already in should also occur between now and July, further pushing down gold but especially silver. Historically even without these pressures, gold and silver trade at their low points in the summer months. So BTD and reap the rewards towards the end of 2023 and all throughout 2024

Well I haven't got any spare cash until September so it looks like I'll miss this dip.

[gji25]

constantly around the £1600 for a few weeks now ( give or take the £20 mark )   if not months .

a new stair step imho. November 2023 will be the real test. A weather man told me . ( the stormy season ) 😉

 

 

 

[SidS]

29 minutes ago, gji25 said:

constantly around the £1600 for a few weeks now ( give or take the £20 mark )   if not months .

a new stair step imho. November 2023 will be the real test. A weather man told me . ( the stormy season ) 😉

 

 

 

He's my go to weatherman.

[HonestMoneyGoldSilver]

8 hours ago, SidS said:

Well I haven't got any spare cash until September so it looks like I'll miss this dip.

Everything is relative. I predict it will be July/August before we break the nominal ATH of £1635/$2067, which will be after the Fed pauses. The real upside rocket won't kick in until 2 weeks or so before the Fed actually starts to cut. Most people (fund managers) are predicting the cut in Q4 2023 or Q1 2024 so as long as you get in before that you should capture most of the upside

[Bigmarc]

What do you think will happen to the pound if the fed does a pause and the UK carries on with hikes? We are way behind everyone on trying to curb it. 

[SeverinDigsSovereigns]

18 minutes ago, Bigmarc said:

What do you think will happen to the pound if the fed does a pause and the UK carries on with hikes? We are way behind everyone on trying to curb it. 

The forex market trades on expectation. When BoE hikes rate the pounds would have risen already, and it's really down to your expectation on the UK inflation. Our economic woes are quite different from America's, as they don't need to worry about slow marching zombies on the motorways when they drill  their own oil and gas, and they don't have to worry about strikes because they drive cars anyway. Their main worries are the government debt which we need to worry less, and unemployment rate (here we have a labour shortage). Inevitably inflation will be stickier in the UK, and to an extent higher inflation will cause the cable to rise under the current circumstances. But expect the pound to drop if 1) inflation eases 2) unemployment rises. Both are very difficult to predict.

[Midasfrog]

[HonestMoneyGoldSilver]

15 minutes ago, Bigmarc said:

What do you think will happen to the pound if the fed does a pause and the UK carries on with hikes? We are way behind everyone on trying to curb it. 

If the Fed pauses and the UK hikes then GBP will strengthen significantly against the USD and Euro. Currently GBP is on somewhat of a tear, relatively speaking, against both USD and Euro, with markets perceiving the UK banking sector and economy to be in ruder health than their contemporaries regardless of inflation.

In practice the Fed, BoE, ECB (and BoJ) are essentially one brain with different limbs. Sometimes they disagree with each other and knock over the coffee cup or trip and fall but in general they act as one coherent body. The BoE will mirror the Fed, as it has been doing. When the Fed pauses the BoE will likely follow suit within 1 or 2 meetings. Likewise if the Fed keeps hiking for whatever reasons, the BoE will keep hiking too. It's pretty much essential for the UK being a large net importer to mirror Fed hikes as a weakening pound by itself causes inflation

It's possible the BoE will continue to hike after the Fed pauses, maybe the BoE will seek to mirror the peak rates of the Fed at around 5.5-5.75%, or maybe the BoE will draw the line at 5%. Like you said the UK is struggling to contain inflation and may keep hiking if inflation remains sticky, provided the banking and property sectors can handle the strain of even higher rates

[Midasfrog]

[gji25]

They have just completed an audit on the feds gold reserves in the us. This is what they found .

 

[ChrisSilver]

Off topic posts being hidden. Please post in the relevant sections of the forum. Members are welcome to discuss such political topics etc in the non PM section of the forum, likely there is a topic already around the topic you wish to discuss, if not please feel free to start one there.

[Earthmetal]

I have successfully bought sovereigns from my local auction numerous times. This month however I only got one half-sov. I was going too high allready but was still outbid. With the buyers premium added someone has paid £434 each for plain bullion sovs...
Also, at work on Friday I heard someone say in passing conversation, "gold's going up..."

[HonestMoneyGoldSilver]

If anyone is still unsure whether or not the central authorities manipulate markets, including the UK gov, US gov, EU, BoE, Fed, ECB and JPMorgan Chase ....

Interest rate 'rigging' evidence 'covered up' by banks - BBC News

On the plus side gold and silver are pretty much holding their gains from Friday. The Fed has been giving indications of a pause on 14th June. If that's true we should see the insiders bidding up gold over the next 2 weeks. I still think they will hike on 14th June and we're trading sideways/down from here to July but I'll happily accept the alternative