Gold Monitoring Thread £ GBP only

[SilverPirate007]

Just now, Paul said:

Why feckin risk it? Have some in bullion vault, some in gold money, some in safe deposit, some in stocks, done buried in garden, some in ya sock drawer, some as fiat, some at your mother's\dads spread your risk people

 

I do mate!

[goldking]

18 minutes ago, mr-dead said:

What about recent events with Glint?

Peoples funds frozen, no access to fiat or metals owned for some time.  Turned out ok after several weeks but could have just as easily gone the other way.

Its suprising how many historic conspiracy theories actually turned out to be true.

Indeed.  People have short memories and that only happened 6 months ago.  But as long as you have your paper promise of some gold lodged with a third party vault co in Zurich, Singapore or some other random supposedly safe place, it will all be fine and there's nothing to worry about. 

Edited February 23, 2020 by goldking

[Paul]

Just now, SilverPirate007 said:

I do mate!

Best way, one thing ever goes tits up you've not lost everything for the sake of saving a couple if quid going all in on one thing

[Guest]

4 minutes ago, Paul said:

Best way, one thing ever goes tits up you've not lost everything for the sake of saving a couple if quid going all in on one thing

Wise words indeed, Stieff Bears and Dinky Toys are also great fun

[mr-dead]

10 minutes ago, Paul said:

Best way, one thing ever goes tits up you've not lost everything for the sake of saving a couple if quid going all in on one thing

How much are you actually saving after factoring storage and transaction fees on bullion vault.

The other positive in physical gold is price increase above spot with queens beasts for example, or if you were super lucky una .

Edited February 23, 2020 by mr-dead

[Robda1986]

4 hours ago, SilverPirate007 said:

Haha depends on your friends family then. I have around 8 sovs from them so far. Each to their own.

also how do you know they wouldn’t ship to a different address? I may try that with my card tonight and get back to you.

Why bother with postage friends and family head to a local town find a jewelers and ask if the have any sovs for sale take cash then no record I find I get better deals paying cash anyway 

[SilverPirate007]

4 minutes ago, Robda1986 said:

Why bother with postage friends and family head to a local town find a jewelers and ask if the have any sovs for sale take cash then no record I find I get better deals paying cash anyway 

Which jewellers do you buy from?

[goldmember44]

I would never, ever risk my money to buy "gold" that is stored somewhere else, that I will never see. Sorry. Just physical for me.

[mr-dead]

1 hour ago, SilverPirate007 said:

Which ones turned out to be true? Fake moon landings?

Testing drugs such LSD on soldiers.

Tuskegee Syphilis Study.

US government poisoning alcohol during prohibition

Governments globally investigating UFOs despite stating they had zero interest.  Many files now released.

Gulf of Tonkin Incident

Nayirah's fake testimony that Helped Launch the Gulf War

and many more..

 

Edited February 23, 2020 by mr-dead

[goldking]

5 minutes ago, goldmember44 said:

I would never, ever risk my money to buy "gold" that is stored somewhere else, that I will never see. Sorry. Just physical for me.

Lunatic ! 

[GoldElliott]

6 minutes ago, goldmember44 said:

I would never, ever risk my money to buy "gold" that is stored somewhere else, that I will never see. Sorry. Just physical for me.

agreed- defeats the point of holding gold as a hedge against the collapse of financial systems if it exists virtually like paper gold or is held by the very institutions that are prone to collapse/ confiscation by govt

Edited February 23, 2020 by GoldElliott

[Guest]

3 minutes ago, GoldElliott said:

agreed- defeats the point of holding gold as a hedge against the collapse of financial systems if it exists virtually like paper gold or is held by the very institutions that are prone to collapse/ confiscation by govt

in the event of a collapse of the financial system your gold will be taken off you by those with more power than you just as they can take away your house that you think you own anytime they choose, the legislation is in UK law for that very reason and every other nation, this is way off topic now anyhow, I had a target of £1300 given back in December to hit by April, looks like that is coming true, Silver price target will come later, it always does, bit like Seabiscuit coming round the last bend

[GoldElliott]

1 minute ago, bullionbob said:

in the event of a collapse of the financial system your gold will be taken off you by those with more power than you just as they can take away your house that you think you own anytime they choose, the legislation is in UK law for that very reason and every other nation, this is way off topic now anyhow, I had a target of £1300 given back in December to hit by April, looks like that is coming true, Silver price target will come later, it always does, bit like Seabiscuit coming round the last bend

can't confiscate it if they don't know you have it

I can see £1300 for gold this year. Silver I can never predict

[Guest]

On 19/12/2019 at 16:03, bullionbob said:

Hi all, the next upcycle in gold and silver has begun, i'm expecting upside 20% in gold price and c.30-35% from the recent lows over the next 5 months, just from a charting perspective if you believe in that sort of thing 

 

[Guest]

On 19/12/2019 at 16:12, bullionbob said:

I make those targets 1300.84 for gold and 16.89 for silver over the next cycle 20 odd weeks or so, i'm thinking that silver will spike on the very last day of the upwards cycle, i'm looking for 17.50 or near as for a top out, we'll see. 1300.84 & 16.89 look like a good bet to me, the last upcycle from may to September 2019 moved up by these %s, no reason to think it won't happen again, history repeats, human nature never changes 

 

[goldking]

9 minutes ago, bullionbob said:

in the event of a collapse of the financial system your gold will be taken off you by those with more power than you

Well I wish them all the luck in the world trying to find it  .  Sovereigns being the tiny little coins that they are make them extremely easy to hide in a wide variety of ingenious places.

Edited February 23, 2020 by goldking

[Dobber]

6 minutes ago, bullionbob said:

I make those targets 1300.84 for gold and 16.89 for silver over the next cycle 20 odd weeks or so, i'm thinking that silver will spike on the very last day of the upwards cycle, i'm looking for 17.50 or near as for a top out, we'll see. 1300.84 & 16.89 look like a good bet to me, the last upcycle from may to September 2019 moved up by these %s, no reason to think it won't happen again, history repeats, human nature never changes 

Bullionbob is a Soothsayer 😲, wish I could read the trends as well as him, nice one.

[Abyss]

27 minutes ago, goldmember44 said:

I would never, ever risk my money to buy "gold" that is stored somewhere else, that I will never see. Sorry. Just physical for me.

I think it all depends on your time horizon and your beliefs. I can certainly see the appeal of using a service like Bullion Vault the spreads between buying and selling is competitive and if you bought and had to sell in a short time frame (provided spot price did not move) then in theory you only stand lose 0.02% (Gold London £) and it is impossible to achieve this spread in physical Gold and practicality and flexibility to buy and sell 24 hours day seven days a week without having pay postage costs or a need to find a buyer/seller.

I believe in the last 10+ years this probably one of the most efficient ways to buy Gold but the economic, political environment that we have recently entered has changed. HSBC are the custodians GLD and the majority of their profits are derived from Hong Kong the most overvalued housing market on earth, Deutsche Bank derivatives exposure, corona virus black swan event and central banks around the world attempted trying to keep stock markets at all time highs by pumping liquidity, federal reserve started QE4, we have no idea over last five decades how much gold leased out but still on the balance sheets central banks as reserves. Nobody can predict in the interconnected financial/global economy that we live in today if one domino falls what implications it will have on others.

If your objective is to be completely out of the system, have zero third party risk and lock in purchasing power indefinitely then holding physical gold is the way to go.

Plus holding physical Gold is good enough for these fine fellows then good enough for me.

[goldmember44]

Of course, one could trade gold via a spreadbet account, too...and often get very favourable spreads. If that is your type of thing. I've been there, done that ..it certainly holds a certain attraction and it can be done, but requires a whole lot of discipline and a big bank balance for margin. And you could even leverage your trades a lot to profit greatly on even small movements in your favour. Conversely the risk is considerable if the market moves against you. 

[goldking]

14 minutes ago, Abyss said:

I think it all depends on your time horizon and your beliefs. I can certainly see the appeal of using a service like Bullion Vault the spreads between buying and selling is competitive and if you bought and had to sell in a short time frame (provided spot price did not move) then in theory you only stand lose 0.02% (Gold London £) and it is impossible to achieve this spread in physical Gold and practicality and flexibility to buy and sell 24 hours day seven days a week without having pay postage costs or a need to find a buyer/seller.

 

Does that 0.02% loss include all of their commission, storage, transaction and insurance fees?

https://www.bullionvault.com/help/tariff.html

[Pipers]

Spread betting is ok though you will get flushed out!  Weak hands.  

[5huggy]

1 hour ago, GoldElliott said:

agreed- defeats the point of holding gold as a hedge against the collapse of financial systems if it exists virtually like paper gold or is held by the very institutions that are prone to collapse/ confiscation by govt

AGREED! 

"If you can't HOLD it - you don't OWN it!

[Abyss]

11 minutes ago, goldking said:

Does that 0.02% loss include all of their commission, storage, transaction and insurance fees?

https://www.bullionvault.com/help/tariff.html

Good point @goldking have to read the small print so many different charges apart from just the spread........

https://www.bullionvault.com/help/tariff.html

[5huggy]

Well - IMHO - this suggests to ME - a further rise 

OF THIS!

lets watch a little later tonight !

BTW - -THESE CHARTS ARE INTERACTIVE - SO WILL UPDATE AUTOMATICALLY!

[goldking]

Using their cost calculator - buy 1 oz of gold and sell it after a year would cost you £49.77 .  To store long term, say 10 years, a whopping £383.45  .  I'll give it a miss thanks and stick to my hidey place where it costs me absolutely nothing and don't have the worry over the holding company going pop and losing all my gold.