Gold Monitoring Thread £ GBP only

[DarkChameleon]

10 minutes ago, goluckystayhappy said:

All time high in £ is just shy of £1200/oz.

We are nowhere near jn the U.S....and with inherent greed here no record will never be enough, they want crypto levels of return...lol.

[mr-dead]

They just did a story on the increasing gold price on the BBC 1 Breakfast show flashing about a 1g bar and a gold sovereign.

Hopefully we'll start getting more of the public jumping on the stacking train and those cash for gold shops will soon start popping up all over the place.

[Goldmick]

Yer just it 2 wonder what year that sovereign was 

[Cornishfarmer]

There she drops.   Mr trump given a little to China.     Well done to the ones what cashed in a little

[DarkChameleon]

4 hours ago, Cornishfarmer said:

There she drops.   Mr trump given a little to China.     Well done to the ones what cashed in a little

When it comes to trump never count your chickens or your silver.

[goldmember44]

It's interesting to see that silver is not falling... showing some resilience here at just over £12... 

[Caratacus]

11 hours ago, Cornishfarmer said:

There she drops.   Mr trump given a little to China.     Well done to the ones what cashed in a little

Just as Hong Kong starts to get wound up by Chinese politics.....

[HighlandTiger]

12 hours ago, Cornishfarmer said:

There she drops.   Mr trump given a little to China.     Well done to the ones what cashed in a little

Exactly as I said it would yesterday. The sheep mentality of the traders is mind-blowing. 

[sovereignsteve]

4 minutes ago, HighlandTiger said:

Exactly as I said it would yesterday. The sheep mentality of the traders is mind-blowing. 

These things are self perpetuating. They know it will happen so they have to go with the crowd.

its like the "buy the rumour sell the fact" rule.

[Caratacus]

It would be interesting to know how many short traders of Gold were caught out and how this will affect future short trading- Does any one have insight into this?

The $100/£100 rise must have surprised a few?

[HawkHybrid]

16 minutes ago, Caratacus said:

It would be interesting to know how many short traders of Gold were caught out and how this will affect future short trading

 

there's no affect on the longer term shorting of

gold. similarly the longs that lost money on last

year's drop until august have no affect on the

longer term longs.

 

HH

Edited July 1, 2019 by HawkHybrid

[DarkChameleon]

We'll see what happens when Wallstreet opens, the big guns will have traded already, now it will be the smaller traders that add upto the big guns, they will either think high and sell or blip and buy, I'm know which way I'll trade in my own little way, Trump is still trump so gold will rise, it is nice to see that silver didn't drop as much, this is all gold traders, you can see the massive sells on it through thenight, stopped it setting off back up again...my stash is still just as shiny so I'm good.

[AuricGoldfinger]

Looks like we might be back in the game anyway!

Edited July 2, 2019 by AuricGoldfinger

[goldmember44]

Gold trounces bitcoin this week. Definitely the only reliable store of value... as liquid as cash and doesn't depreciate like cash over time.

[HighlandTiger]

So it appears that someone had stuck two star petrol in the rocket fuel tanks over the weekend, however that has now been sorted, re-loaded with grade A rocket fuel, and we are back on track to reach the moon and beyond. 

[DarkChameleon]

5 minutes ago, HighlandTiger said:

So it appears that someone had stuck two star petrol in the rocket fuel tanks over the weekend, however that has now been sorted, re-loaded with grade A rocket fuel, and we are back on track to reach the moon and beyond. 

Where there's ups there's downs and where there's downs there's ups......you can quote me on that...lol.

[Paul]

Some new info from Mike "I own a giant gold & silver Company" Maloney.  He highlights some new cracks in the dam wall that could bring further problems on the US $ dollars & its dimise.

Launch of new trading platform for INSTEX circumventing the USD $ 

https://financialtribune.com/articles/business-and-markets/98681/eu-says-instex-operational

[Stu]

1 hour ago, Paul said:

Some new info from Mike "I own a giant gold & silver Company" Maloney.  He highlights some new cracks in the dam wall that could bring further problems on the US $ dollars & its dimise.

Launch of new trading platform for INSTEX circumventing the USD $ 

https://financialtribune.com/articles/business-and-markets/98681/eu-says-instex-operational

More and more ways to circumvent the dollar, good article thanks for sharing, didn't know that was in the pipeline 

Edited July 2, 2019 by Stu
.

[Caratacus]

1 hour ago, Paul said:

Some new info from Mike "I own a giant gold & silver Company" Maloney.  He highlights some new cracks in the dam wall that could bring further problems on the US $ dollars & its dimise.

Launch of new trading platform for INSTEX circumventing the USD $ 

https://financialtribune.com/articles/business-and-markets/98681/eu-says-instex-operational

Nearly a  £2.5% increase today must imply something is afoot   - (pound fell only a smidge)

[Bumble]

The price fall from 1409 to 1390 happened on Sunday 30th in the evening. At the time, even the Asian and Australian markets were not yet open. It was one of a series of attempts to drive the price down by selling large quantities of gold when no buyers are around. Legitimate sellers of gold do not do this: they want to get the best price, so they sell when London and/or NY are open for trade and lots of buyers are around.

During 2013-2015 this kind of price manipulation worked and it scared the bulls away and resulted in the gold price continuing to fall. In late 2015 it stopped working. We started to see price knockdowns recovering quickly, indicating that bulls are no longer scared and are willing to come straight back in. The bottom of the gold market followed shortly after in December 2015, and I doubt this was a coincidence.

On Monday 1st the gold price tracked sideways and then on Tuesday 2nd it recovered back to $1418. The recovery took a little longer, but I think the message is still the same: the gold bulls are not scared of a price fall and will continue buying. This is a bullish indicator. We could still see a fall if the trade war negotiations conclude with a good deal, and the tensions in the Straits of Hormuz ease, but if gold continues to hold above £1350, then it is likely to continue to rise between now and next February.

[Oroargento]

Maybe unrelated but reports of VP Pence as below and a Russian submarine incident may be influencing price. 

https://www.foxnews.com/politics/pences-plane-called-back-to-dc-for-unspecified-emergency

[goldmember44]

Spiked to £1,139 in the last hour... madness.

[sixgun]

19 minutes ago, goldmember44 said:

Spiked to £1,139 in the last hour... madness.

The madness has only just started...... 🤡

There has been an number of attempts by the usual culprits to smash price down - in past years we would have seen price tumbling down over the summer (quiet season) - price has come back and back and back. They have destroyed the value of their fiat currencies and now the chickens are coming home to roost. 

Edited July 2, 2019 by sixgun

[goldmember44]

Yeah. The only regret I have is not owning more gold. But at this point, any gold is better than no gold.

[DarkChameleon]

6 minutes ago, goldmember44 said:

Yeah. The only regret I have is not owning more gold. But at this point, any gold is better than no gold.

I think we'd all have that regret buy if we had all the gold wed want more...but if it's doing this now what's it going to do over the next year?.