Gold Monitoring Thread £ GBP only

[SeverinDigsSovereigns]

5 minutes ago, HonestMoneyGoldSilver said:

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

If you believe there is concerted effort by governments, banks, etc to manipulate anything, or some worldwide "group thinking" (which is an understatement for conspiracy), and while I agree those are not impossible and do not intend to comment on the validity of such beliefs, the BBC and their internationalist Bolshevik "journalists" are the last people you should trust.

[HonestMoneyGoldSilver]

40 minutes ago, SeverinDigsSovereigns said:

If you believe there is concerted effort by governments, banks, etc to manipulate anything, or some worldwide "group thinking" (which is an understatement for conspiracy), and while I agree those are not impossible and do not intend to comment on the validity of such beliefs, the BBC and their internationalist Bolshevik "journalists" are the last people you should trust.

Agreed. I gave the BBC reference but if you Google that article you will see dozens of different publications running the same story all pretty much saying the same thing. It's not that I believe them, it's that these things have been proven - market manipulation and other financial crimes by governments, central banks and financial institutions. Some have went through the system and there are court records, others have been settled out of court and there are the really big ones like in this article that are never held accountable even with meaningless fines. 

[flyingveepixie]

A drop of around 15-20% in energy prices is expected to be announced tomorrow.  As this implies increased stability to the economy, will it be likely to affect gold spot price adversely..? 

Your thoughts please..

[Zhorro]

1 minute ago, flyingveepixie said:

A drop of around 15-20% in energy prices is expected to be announced tomorrow.  As this implies increased stability to the economy, will it be likely to affect gold spot price adversely..? 

Your thoughts please..

I think this is unlikely to have any significant impact on spot price - I presume the energy prices you refer to are just specific to the UK. 

[GoldDiggerDave]

Just now, flyingveepixie said:

A drop of around 15-20% in energy prices is expected to be announced tomorrow.  As this implies increased stability to the economy, will it be likely to affect gold spot price adversely..? 

Your thoughts please..

Not really a 20% drop after putting the prices up 300%.  
 

And look at the slow motion car crash mortgages are becoming.  The government know how far to push and squeeze people, I can’t see it making any real world difference to people paying a hypothetical £600 per year less when they will be smacked £4,800 more if they have a mortgage.  
 

Implied stability?  Not on your nelly. 

[flyingveepixie]

1 hour ago, Zhorro said:

I think this is unlikely to have any significant impact on spot price - I presume the energy prices you refer to are just specific to the UK. 

Yes UK.   https://www.moneysavingexpert.com/latesttip/#energy

1 hour ago, GoldDiggerDave said:

Not really a 20% drop after putting the prices up 300%.  
 

And look at the slow motion car crash mortgages are becoming.  The government know how far to push and squeeze people, I can’t see it making any real world difference to people paying a hypothetical £600 per year less when they will be smacked £4,800 more if they have a mortgage.  
 

Implied stability?  Not on your nelly. 

Yes, not really much of a drop, but a drop nonetheless, and I noticed the fuel prices at our local pump were a bit lower yesterday too.   In the world of the Good Morning Britain watching masses out there all these little titbits and tasters of implied prosperity will influence their thinking to make it all seem better than it really is and get them booking their luxury holidays and thinking about a new car once again, so I think in the wider sense it does imply stability to the economy, even if it's a lie.

My issue is how it will all affect the gold price, and I suspect if it continues for the next few months gold spot will fall as consumer and market confidence grows, even if it is all a part of the grand manipulation.

There's something wierd going on with my posts this morning...   I had to attempt the above three times as it kept vanishing..??🤔

Edited May 24, 2023 by flyingveepixie

[GoldDiggerDave]

34 minutes ago, flyingveepixie said:

Yes UK.   https://www.moneysavingexpert.com/latesttip/#energy

Yes, not really much of a drop, but a drop nonetheless, and I noticed the fuel prices at our local pump were a bit lower yesterday too.   In the world of the Good Morning Britain watching masses out there all these little titbits and tasters of implied prosperity will influence their thinking to make it all seem better than it really is and get them booking their luxury holidays and thinking about a new car once again, so I think in the wider sense it does imply stability to the economy, even if it's a lie.

My issue is how it will all affect the gold price, and I suspect if it continues for the next few months gold spot will fall as consumer and market confidence grows, even if it is all a part of the grand manipulation.

There's something wierd going on with my posts this morning...   I had to attempt the above three times as it kept vanishing..??🤔

Gold is likely (just my guess to dip in the summer) no doubt we have only just seen the start of the demolition of the US banks so people  will rush to gold……also mate don’t forget the halving of the CGT allowance, that’s going to push many more into the gold market in this country. 
 

what do you lot think the dip will be£1,550 £1,500 less? 

[GoldenGriffin]

1 minute ago, GoldDiggerDave said:

what do you lot think the dip will be£1,550 £1,500 less? 

I'm still waiting for it to drop to £1,200... waiting, waiting, waiting 🤣

I agree I think it'll drop.

Public rush to gold and then plummet.

[flyingveepixie]

55 minutes ago, GoldDiggerDave said:

Gold is likely (just my guess to dip in the summer) no doubt we have only just seen the start of the demolition of the US banks so people  will rush to gold……also mate don’t forget the halving of the CGT allowance, that’s going to push many more into the gold market in this country. 
 

what do you lot think the dip will be£1,550 £1,500 less? 

Yes I had forgotten about the CGT cut, and the US banks..🤣   I suppose only time will tell...

[ant1882]

Back on the up again, maybe gold will join the UK bond yields in going to da moon today... Almost back at kami-quase / Truss levels.

Edited May 24, 2023 by ant1882

[ant1882]

Back to £1600!

[ZRPMs]

Any reason why gold decided to go abseiling

 

[MBTPSilver]

US inflation was revised higher I believe, and some unemployment claims revised lower; so more expectation for another interest rate hike, stronger dollar, weaker gold.

[CazLikesCoins]

1 hour ago, ZRPMs said:

Any reason why gold decided to go abseiling

 

Won't matter. if it goes does to a penny an ounce and stays there people will still buy it. Addicted. Only reason I can think why people keep on buying silver. 

(I don't exclude myself from the above lol)

[HonestMoneyGoldSilver]

1 hour ago, ZRPMs said:

Any reason why gold decided to go abseiling

 

In the simplest terms, yes, a stronger USD. You can earn 5.59% PER MONTH with the US 1-month T-Bills. People who would have otherwise invested in gold or bought physical precious metals are being advised to put their money in those high-yield monthly treasuries instead. It's solid advice. The rates won't stay at 5.59% for long but if they did, compounded over a year that's 80% return on a "risk-free" asset. If anyone is wondering you can't buy them directly in the UK but you can use a broker/buy secondary market bonds or buy ETFs linked to US treasuries:

How to buy US Treasury Bonds from Europe & the UK (2023) (investingintheweb.com)

When the Fed cuts rates a lot of the money in these risk-free cash and cash-equivalent assets will flood into precious metals

[SidS]

2 hours ago, ZRPMs said:

Any reason why gold decided to go abseiling

 

It's Lawrence Chard!

[ZRPMs]

The US have it sorted. They're looking for a coin collector, @James32 are you interested. It'll be Platinum though.

 

The Telegraph

Follow

The crazy plan to pay off America’s debt with a $1 trillion coin

Story by Melissa Lawford • 2h ago

Coin collectors do not generally have a reputation as the most influential lobby group in American policy making. 

But in 1995 they won an unassuming concession that has since become the root of the weirdest solution on the table to fixing the US debt ceiling crisis.

A cohort of Democrats are calling for the US Treasury to mint a one trillion dollar coin, to bypass the need to get the Republican House to approve an increase in the debt limit.

Specifically, the coin must be made of platinum.

Back in the 1990s, coin collectors were disgruntled. They wanted to buy collectible coins in platinum, but the only ones available cost $600 – beyond the reach of many numismatists.

In order to allow lower-cost alternatives onto the market, the Republican congressman Mike Castle added a few lines to a bill, which read: “The Secretary of the Treasury may mint and issue platinum coins in such quantity and of such variety as the Secretary determines to be appropriate.”

It was only later that Washington insiders realised the implications of the law. It offers a possible loophole through which the US Government could solve the debt ceiling standoff.

Andrew Hunter, deputy chief US economist at Capital Economics, said: “The idea is that to avoid a debt ceiling default, the Treasury could mint a very large denomination coin, deposit it at the Federal Reserve and then the Fed credits their account with the appropriate funds.”

Edited May 25, 2023 by ZRPMs

[katyc]

The false bull in the economy is why gold is tanking (for now). The same old.... Fools believing the hype and listening to morons like Jim Cramer... They won't know what's hit them by the end of the year!

 

(they they'll be buying your gold at 50% more 😉🤞)

[HonestMoneyGoldSilver]

@katyc - that is INSANE, more than 200 times price-to-earnings valuation on Nvidia. Added more market cap overnight than Intel and Micron combined!!!

[katyc]

1 hour ago, HonestMoneyGoldSilver said:

@katyc - that is INSANE, more than 200 times price-to-earnings valuation on Nvidia. Added more market cap overnight than Intel and Micron combined!!!

He's a good follow is Nobody Special Finance. He helps my tiny mind understand things better.

[katyc]

Apologies if already been mentioned  but Germany have admitted to being in recession.

 

Da moooooon sooooooon 🚀 

Edited May 26, 2023 by katyc
Spelling of a 6 year old

[jultorsk]

8 hours ago, katyc said:

He's a good follow is Nobody Special Finance. He helps my tiny mind understand things better.

Been following Nobody ever since he was a youtube... nobody? 😉 Good stuff, especially when he delves into energy and food security.

[SeverinDigsSovereigns]

When £400/oz? I'm really looking to buy some more and sleep on them like Smaug

[Smiler999]

Any predictions now the debt ceiling debacle is almost resolved?

[SidS]

£1200