Gold Monitoring Thread £ GBP only

[stefffana]

The chart for palladium price for last year showing that palladium spot price is half than one year ago:

 

[Bigmarc]

48 minutes ago, Prophecy said:

 

That's exactly what a bot would say to put people off the scent. At least I'm paying for the privilege of using this site for years  How's your stack doing?

Ouch,,,,,,, good one. 

I did ban myself for posting after a Nightshift, now I a can remember why. 

Apologies. 

[stefffana]

£1495/oz!!!

 

[Stacktastic]

19 minutes ago, stefffana said:

£1495/oz!!!

 

I guess its selling before the non farms payroll tomorrow??

[MBTPSilver]

There were some big ADP job numbers out of the US today, double expected figures. So the normal higher expectations now of another hike in July, stronger dollar, lower gold. It's bounced back a touch though, as the job numbers seem quite seasonal.

[EdwardTeach]

Woohoo! It's dropping just in time for pay day at a midnight tonight when I was going to buy some more anyway.

My dollar average buying luck is taking a turn for the better for the first time this year.

 

Edited July 6, 2023 by EdwardTeach

[stefffana]

8 minutes ago, Stacktastic said:

I guess its selling before the non farms payroll tomorrow??

 

2 minutes ago, MBTPSilver said:

There were some big ADP job numbers out of the US today, double expected figures. So the normal higher expectations now of another hike in July, stronger dollar, lower gold. It's bounced back a touch though, as the job numbers seem quite seasonal.

 

I have not any clue, to be honest.

There are only few rumours about a big and serious investor ( @Solachesis) buying tomorrow some 1g gold bars in Turkey. It is the only logical reason in today's drop.

Just sayin'...

[Bogart]

On 29/06/2023 at 14:01, stefffana said:

The chart for palladium price for last year showing that palladium spot price is half than one year ago:

 

Wait until Sunday evening.

[Stacktastic]

30 minutes ago, Bogart said:

Wait until Sunday evening.

I know this is a gold thread but do you think Palladium is undervalued now?? 
I have not gone there due to internal combustion engines being removed. 
Cant believe its almost at Platinum levels? A cheeky £500 in a ETF might be in order is my thinking.  

Edited July 6, 2023 by Stacktastic

[apachebleu]

 Can't say I'm celebrating a big price fall but 1500 give or take is still strong. 

 I know a lot of people will post hoping about this being a great buying opportunity etc. But personally I don't love seeing this much wiped off my stack value.

 I'm glad I've been doing collectable and proof rather than bullion this year as I did feel prices were in a bit of a bubble

[Bratnia]

1 hour ago, apachebleu said:

 Can't say I'm celebrating a big price fall but 1500 give or take is still strong. 

 I know a lot of people will post hoping about this being a great buying opportunity etc. But personally I don't love seeing this much wiped off my stack value.

 I'm glad I've been doing collectable and proof rather than bullion this year as I did feel prices were in a bit of a bubble

Start of 1989 and gold was $524/ounce (I'm using US data for convenience). End of 1999 and it was $291/ounce. Twenty years of price decline in nominal terms, worse if you factor in inflation. A investor who started with 67/33 stock/gold, initially investing $15,720, so started off holding 10 ounces of gold, who rebalanced back to 67/33 weightings once yearly, ended 1999 with a portfolio of $118,369, where a third of that was being held in gold and at a $291/ounce price = 136 ounces of gold being held. Over those twenty years they in effect accumulated 14% annualised more ounces of gold each year. Probably needed a bigger safe to store all of that additional gold. But would have been a stressful period, repeatedly seeing the price of gold going nowhere other than a general downward price trend year after year. Many/most might not have been able to handle the emotions of such a period, those that did, ended up doing OK/well overall.

If you hold just gold in isolation, and look at the price constantly, and worry about the value of the stack, you're more inclined to end up capitulating, and more often at the worst possible time. Those that stay the course in effect take the opposite side of such trades.

[Upsidedown]

Ooh this is nice to look at, appeals to my OCD

[Goldfever20]

45 minutes ago, Upsidedown said:

Ooh this is nice to look at, appeals to my OCD

There is still room for gold to go lower😯

[stefffana]

Just for fun, perfect for a boring evening.

 

[MancunianStacker]

I hear the markets have factored in a BOE base rate of 6.5% until it peaks 😬 Sorry if this has already been mentioned!

[Paul]

2 hours ago, Upsidedown said:

Ooh this is nice to look at, appeals to my OCD

Wonga's says $400oz

[Upsidedown]

2 minutes ago, Paul said:

Wonga's says $400oz

Ah yeah but GBP stands for Guatemalan Bumbaclart Poontangs of which 1500 is roughly $400

Big Wong was right!

[AndrewSL76]

4 hours ago, apachebleu said:

 Can't say I'm celebrating a big price fall but 1500 give or take is still strong. 

 I know a lot of people will post hoping about this being a great buying opportunity etc. But personally I don't love seeing this much wiped off my stack value.

 I'm glad I've been doing collectable and proof rather than bullion this year as I did feel prices were in a bit of a bubble

Buy and it brings your average down. Always works for me!!

[Midasfrog]

4 hours ago, apachebleu said:

 Can't say I'm celebrating a big price fall but 1500 give or take is still strong. 

 I know a lot of people will post hoping about this being a great buying opportunity etc. But personally I don't love seeing this much wiped off my stack value.

 I'm glad I've been doing collectable and proof rather than bullion this year as I did feel prices were in a bit of a bubble

If your holding gold its not loosing anything during the dips unless you sell below your purchase price , we know it will rise again 😃

Also your collectable and proof coins will protect the bullion portion of the stack as they have a built in premium. If you need to sell during a dip sell collectable and proof coins , nothing lost.

[Midasfrog]

7 hours ago, stefffana said:

£1495/oz!!!

 

£1499.69 fixed that for you my bert friend 😉

[CaptCaveMan]

We all keep buying the shiny stuff for multiple reasons.  Spot goes up, sideways and down, what ‘investment’ doesn’t?

For me, as long as I don’t need to sell, it’s savings for the next generation as easier to save than fiat and provides me the enjoyment in collecting.

I don’t have a large stack and may have none due to that unfortunate boating accident so buy when I can, when we have a dip I try my luck…

We have had a few years of exceptional circumstances which appear to be coming home to roost, globally.  imho I expect it to drop back in the medium term once the dust settles.

At the end of the day and in the current climate, we’re not doing too badly in making that next purchase be it at Wonga’s prediction or an ATH.

[Solachesis]

16 hours ago, stefffana said:

 

 

I have not any clue, to be honest.

There are only few rumours about a big and serious investor ( @Solachesis) buying tomorrow some 1g gold bars in Turkey. It is the only logical reason in today's drop.

Just sayin'...

Bought a bar yesterday, will buy another today maybe.

Spot coincidence? I think not.

[GoldDiggerDave]

12 hours ago, Upsidedown said:

Ooh this is nice to look at, appeals to my OCD

Panic over gone up £2.49 today you can sell that 1oz now and get a Costa on the way to work!  🤣

[Zhorro]

48 minutes ago, GoldDiggerDave said:

Panic over gone up £2.49 today you can sell that 1oz now and get a Costa on the way to work!  🤣

I knew it would be a mistake to delay buying a quarter sovereign.

[apachebleu]

15 hours ago, AndrewSL76 said:

Buy and it brings your average down. Always works for me!!

 Oh I've not lost anything in real terms, maybe my comment was misunderstood and I'm not saying the sky is falling. I haven't bought much bullion recently and I'm lucky enough that a movement of a few hundred an oz won't have me eating dog food or prostituting myself down the docks.

 All I'm saying is that if your on crypto reddit and see the cringey nonsense being posted as prices go down you get a bit jaded with people pretending their investment being devalued is a positive thing.

  With that said I'll probably be picking up the bull of clarence gold oz soon for the bullion collection which I've been putting off

 

Edited July 7, 2023 by apachebleu