Gold Monitoring Thread £ GBP only

[goldmember44]

2 minutes ago, goldking said:

Gold would need to be $1896.51 to be at record levels.  It's a long way off that.

Yeah I edited my post with that. I personally don't think the dollar will remain under that level for much longer, we will see... 

Edited February 20, 2020 by goldmember44

[Safestacker]

Is now a good time to keep buying or not? Should we wait or should we keep buying now ?

[KevjustKev]

1 minute ago, Safestacker said:

Is now a good time to keep buying or not? Should we wait or should we keep buying now ?

Open to offers😃

[goldking]

2 minutes ago, goldmember44 said:

Yeah I edited my post with that. I personally don't think the dollar will remain under that level for much longer, we will see... 

It's interesting to note that historically when the currency is strong, gold price drops, but that isn't happening this time.  Rick Rule said in one of his recent podcats that he doesn't see the dollar crashing in the short-term, but instead expects to see an increase , primarily to make the figures look better than they actually are because of the upcoming election, then it's likely to crash at some point after.

As for the GBP price, a couple of days ago we were at $1.3023 to the dollar.  Today we're down to $1.285..

Now at £1254 for gold. 

[Paul]

6 minutes ago, goldking said:

he doesn't see the dollar crashing in the short-term, but instead expects to see an increase 

$ = The cleanest dirty shirt in the laundry basket 

[Oldun]

Dollar, yen and gold safe havens. Yen taking a hit on weakened economic figures so that leaves the other two.

[Paul]

8 minutes ago, Paul said:

$ = The cleanest dirty shirt in the laundry basket 

just remeber to ignore $23 trillion national debt and all is good 

[sixgun]

The reaction of China and other countries dealing with China to this corona virus event is obviously having an effect but i suspect it is a cover more than an effect.

i follow London Paul (Sirius Report) - it is a paid sub - $4 something a month. I listened to him on Rogue Money on youtube on Mondays but then he went behind a pay wall and i missed his commentary so i forked out the $4 something a month and continue to support the guy. He is worth a lot more in my view but if he sells his podcast subscription for the price he does i am very happy. 

Paul is getting more and more pessimistic over the USD. Foreign governmental entities have not been buying US Treasuries for several years. The Russians have effectively got rid of all of their Treasuries. China is offloading. Due to all the craziness of sanctioning the world - even Europe is threatened, the world is sick of the abuse of the world reserve status and the USD being used as a weapon. So they are moving out of dollar trading. This will kill the US stone dead. The Eurodollar market where non-US banking concerns lend (create) USD out of thin air is running rampant - the Fed has no control over this and it is like a time bomb getting ready to blow up. 

We have not had audits of the US gold for decades - the seals on the vaults have been broken multiple times which means official audits should occur but they aren't. (There is an interesting thread on the forum dealing with this). The US built up a huge stack of gold before and after WWII over 20 000 tonnes - then it got whittled down to 8000 something - then the audits stopped and Nixon took the USD off the gold standard. It is all gone. The US knocks and knocks gold - if the US truly had the biggest gold reserves why knock gold? Where has all the gold that goes to China/Russia and elsewhere come from? Why were the gold bars returned to Germany new bars - what happened to the originals? Why have Fort Knox bars that ended up in China and then were drilled - why did they turn out to be plated tungsten?

China, Russia et al will know many more details than we can hope to know - they will know the gold in the West is running down low but they want every ounce. The price cannot be smashed down indefinitely when there is strong physical demand - there has to be some physical around at around the paper prices. 

The Neo Cons have run amok in the Trump administration - the USD is in terminal decline - and accelerating. It is getting desperate - cracks are appearing - the Repo event in September showed there were serious problems and the Fed has been hosing liquidity in since - we have non QE QE which will only step up and up.

Stack gold and silver. Store up food and access to water. We live in interesting times which are about to get more interesting.

Edited February 20, 2020 by sixgun

[sixgun]

Hmm the USD price of gold just did a pop up - now we are defo highest since the last 7 years. Cricky even £1257. I'm getting giddy now.

The other side of that Andrews fork is over £1300 - we are heading for £1300.

Edited February 20, 2020 by sixgun

[goldking]

12 minutes ago, sixgun said:

Hmm the USD price of gold just did a pop up - now we are defo highest since the last 7 years. Cricky even £1257. I'm getting giddy now.

If it carries on moving at this rate it'll be a new GBP ATH in a couple of days, surpassing the current £1278 ATH from 3/9 last year. 

[Pipers]

Whos bought on this rally, i bought in December and in January

[sixgun]

4 minutes ago, Pipers said:

Whos bought on this rally, i bought in December and in January

i bought my brother's 4 coin Britannia set yesterday. i just keep buying - i am in this for a good while longer, God willing.

[Pipers]

Just now, sixgun said:

i bought my brother's 4 coin Britannia set yesterday. i just keep buying - i am in this for a good while longer, God willing.

 

I thought you just sold one i was thinking of making you an offer for it?   Did you change your mind?

[sixgun]

Just now, Pipers said:

 

I thought you just sold one i was thinking of making you an offer for it?   Did you change your mind?

It was my brother's set. i was selling it for him and then ended up buying it off him. 

[Pipers]

Just now, sixgun said:

It was my brother's set. i was selling it for him and then ended up buying it off him. 

Makes sense 👍

[goldking]

7 minutes ago, Pipers said:

Whos bought on this rally, i bought in December and in January

I bought 2 krugs and 49 full sovs last month all for marginally under spot which was £1185 at the time.  I will still buy if I can pick up for spot or below.  I'll be holding for 20+ years so any short-term dips wouldn't bother me.

[richatthecroft]

Just now, goldking said:

I will still buy if I can pick up for spot or below.

Here you go- below Spot 22ct Goodness 😉

 

 

[Roy]

6 minutes ago, goldking said:

I bought 2 krugs and 49 full sovs last month

Any interesting sovs? 😊

[goldking]

8 minutes ago, Roy said:

Any interesting sovs? 😊

I'm a stacker so only interested in their gold value .  3 were 2020s from HB and all the others are 1966s.

@richatthecroft see your PM momentarily.

[goldking]

  £1260 is here. 

[vand]

just 1.5% off the GBP all time high. How did that happen?!

[GoldElliott]

4 hours ago, Pipers said:

Whos bought on this rally, i bought in December and in January

Just bought 3 coin Britannia set last Fri (spot was about £1210). I intend to 'cash in' in 30+ years so don't really care about the price now.

[vand]

As others have mentioned this strength in gold is in the face of a firm dollar, meaning the gbp and other currency prices has shot up. It’s very impressive and is one of the differences in this the market that we see today. 

[goluckystayhappy]

Is gold getting to expensive for people to buy. I have advertised a number of one ounce gold coins at spot including delivery, even offering a free Proof silver 1 ounce eagle with a gold ounce at spot but no takers.  Gold listed at spot used to sell almost instantly but now there are no takers.

[vand]

The cartel are losing grip of the market here.

Gold has decisively broken out of its consolidation pattern and continues setting new 7 year highs and silver is breaking out past the important $18.40 level. 

There could be quite a lot left in this rally as the shorters are forced to cover.