Gold Monitoring Thread £ GBP only

[Petra]

Not about the odd mad hike in price followed by a quick fall each day, it’s the steady gradual closing at a high, dropping later only a little, then sneaking up so gradually it isn’t dropping much just gradually upping to new highs🤔 Keep buying!🤔😮😮

Edited March 27 by Petra
add

[ant1882]

£1739!

[Spyder]

Have noticed that as spot rises, the dealers price over spot reduces. Now HGM best value Sovereign 1.67%  and 1oz Britannia less than 1% by UK Bullion.

I guess they too have noticed that less are buying above a certain price.

[gji25]

1 hour ago, MrStacker said:

It’s insane how fast it’s gone up. Never anticipated it to be honest at this early part of the year.

Probably going to hit 1800 before the summer. 

indications at the moment could see gold reach £2000 and above per oz by the end of 2024 😉

[HonestMoneyGoldSilver]

5 minutes ago, Spyder said:

Have noticed that as spot rises, the dealers price over spot reduces. Now HGM best value Sovereign 1.67%  and 1oz Britannia less than 1% by UK Bullion.

I guess they too have noticed that less are buying above a certain price.

Yep - stackers and personal buyers are not the driving force behind gold appreciation

If gold was going up due to consumer demand then the premiums would rise to match. What's happening is gold is being pumped by central banks and money managers hoovering up the available physical for long-term storage. Like you said the ordinary consumer isn't willing to pay the same premiums on top of spot when gold price is high

[MBTPSilver]

Dealers will also sometimes have a fixed margin rather than % above spot. So for example they might say spot + £10 for a Sov as that covers postage etc. So as the spot price rises that £10 margin becomes a lower premium %.

This morning's LBMA gold price was also another record. There has to be a 24 hour lag on public feeds, but we did beat the previous high.

Edited March 27 by MBTPSilver

[theman73]

The sale page is flooded with gold...

Ah, the stackers... they are rejuvenating their collection, right?

[ZRPMs]

I know guys, lets kick the gold collectors and when they tell us silver hasn't moved and is almost at parity with copper we'll run off and tell the teacher.

[Upsidedown]

2 minutes ago, ZRPMs said:

I know guys, lets kick the gold collectors and when they tell us silver hasn't moved and is almost at parity with copper we'll run off and tell the teacher.

It must be massively frustrating for those all-in on silver watching the current gold gains.

Of course I'm not against anyone that is all-in on silver, lots of gold bugs here also have lots of silver and I will genuinely be happy for them if silver moons.

[theman73]

4 minutes ago, ZRPMs said:

I know guys, lets kick the gold collectors and when they tell us silver hasn't moved and is almost at parity with copper we'll run off and tell the teacher.

I know I know is going only one way, both ways are not good, you are right.

[ZRPMs]

Its nice to see the gold rise. Hurts a little when your still buying but if you continue to add to the collection with your available disposable funds you manage to pound cost average. the longer your at it, the better the collection looks. I like to keep between 12 and 8ish times silver to gold in weight. Whilst I'm still picking up sovereigns for the collection I haven't done so for the silver for a while apart for the odd bit. At some point I'll get some more as I think I'm just about to go sub 8 to 1, so cheap silver is great. It's just golds moved 9.41% up over the last 12 months and silver has only managed 3.99% at time of writing (BBP charts) in other words my gold has kept up with inflation whilst I've lost on the silver. Almost would have been better to leave it as fiat in a savings account. I suppose it makes it feel cheap. As I'm a collector and not a seller, the short term fluctuations don't benefit me other than my pound cost averaging. Just can't be ar$ed with the effort of buy today sell, pack, post next week buy back 3 weeks later. Great for those set up for that nice way to add a bit more gains. 

Gold to da moooon, Silver we'll put out a chair for when you get here.

[HerefordBullyun]

20 hours ago, Britannia47 said:

Perhaps free silver rounds for long serving members?😁 Ha, Ha. This all started by monitoring Silver, not Gold!

 

Reported for not giving us young un forum members a chance. 😇

[Darr3nG]

6 minutes ago, HerefordBullyun said:

Reported for not giving us young un forum members a chance. 😇

Who put 10p in the Bully?

[James32]

3 minutes ago, Darr3nG said:

Who put 10p in the Bully?

Not keeping up with inflation..£1 these days.

[BLOOMMAN101]

FWIW

 

[Paul]

c**p day today, we've only gone up a tenner  😡🤬

[ZRPMs]

1 minute ago, Paul said:

c**p day today, we've only gone up a tenner  😡🤬

That's just over another 1/2 oz of silver added per ounce without even having to go shopping or pay VAT

[Paul]

1 minute ago, ZRPMs said:

That's just over another 1/2 oz of silver added per ounce without even having to go shopping or pay VAT

  

Dont you threaten me !

Edited March 27 by Paul

[JamesH]

3 hours ago, theman73 said:

The sale page is flooded with gold...

Ah, the stackers... they are rejuvenating their collection, right?

Golden bank account mate. Whilst a majority of it will remain a long hold (assuming nothing awful happens) there will be a small portion that remains liquid and ready to cash in when needed. Thankfully, I learned early and went down the gold route

[kimchi]

4 hours ago, HonestMoneyGoldSilver said:

Yep - stackers and personal buyers are not the driving force behind gold appreciation

If gold was going up due to consumer demand then the premiums would rise to match. What's happening is gold is being pumped by central banks and money managers hoovering up the available physical for long-term storage. Like you said the ordinary consumer isn't willing to pay the same premiums on top of spot when gold price is high

As well as other points mentioned, some folk with gold stored at dealers are cashing out to some degree (and the sum is very big, even for very big dealers). This isn't the dealers' routine business flow and if they can take profit now (or even get rid of this surplus) they will. Once there is a 'new normal' (that phrase rings a bell!) premiums will follow as soon as dealers can get away with them.

[BLOOMMAN101]

[apachebleu]

12 hours ago, Paul said:

 

 I never imagined the gold price thread would end up with Irish drinking songs that are probably about pirates but why not?

[Paul]

6 minutes ago, apachebleu said:

 I never imagined the gold price thread would end up with Irish drinking songs that are probably about pirates but why not?

" Come out you black and tans "

@James32 @treetop1280

Fuse lit 🕯️ I'm running away I'm away to bed 

( Discuss )

#askingforafriend 

 

[James32]

1 minute ago, Paul said:

" Come out you black and tans "

@James32 @treetop1280

Fuse lit 🕯️ I'm running away I'm away to bed 

( Discuss )

#askingforafriend 

 

I was born in the Dublin street
Where the loyal drums do beat,
And the loving English feet walked all over us;
And every single night when me dad would come home tight,
He'd invite the neighbours out with this chorus:

[Paul]

@James32