Gold Monitoring Thread £ GBP only

[AuricGoldfinger]

At least you can wash and re use it

[goldking]

53 minutes ago, 5huggy said:

Who smashed gold yesterday afternoon? Let's 'round up the usual suspects'

<snip>

Shuggy, a couple of interesting comments picked out:

"OPTIONS EXPIRE TOMORROW. COULD BE A RESCUE MISSION FOR SOMEBODY CAUGHT SHORT." ?

"Yes absolutely this is all about minimizing losses on the expiry of Comex options. Shame because just for once it would be a thing of beauty to watch the Bullion Banks taken behind the wood shed for a taste of their own medicine."

Bullion Banks you say?  Who is the largest gold trust?  SPDR Gold Trust.  Who is their custodian?  HSBC.  Remind me again of their current financial health? ......... 

[Tn21]

Bbp "high demand banner"

[HawkHybrid]

1 hour ago, sixgun said:

Who mentioned gold as an actual circulating currency?

When a fiat currency collapses it's value tends to zero - the 1932 £1 was a sovereign. i see sovereigns changing hands for £300+ now. So the modern £1 is one three hundredth of the 1932 £1. These would have appeared ridiculous numbers but they are reality now. The pace of that change has been accelerating - the last time i put this to you it was about one two hundredth and fortieth.

There will be gold backed crypto currency systems. The gold will be vaulted and the crypto coins will circulate. This is what will happen over the next few years. 

No point putting forward arguments about gold and silver coins in circulation - i haven't seen members here proposing that is no point creating a straw man to knock down.

 

we've been using fiat currency for over 70 years now.

what are the odds that it will collapse in the next few

years?

dotcom burst, housing market crisis have yet to make

it collapse.

 

HH

Edited February 25, 2020 by HawkHybrid

[paolo]

Anyone know why gold and silver are going so much down today with stocks going down too and panic increasing?!

[goldking]

4 minutes ago, Tn21 said:

Bbp "high demand banner"

Well of course.  No better way to drum up business than by creating some hysteria for the FOMO lot.  They are one of the more expensive dealers too. 

---

Added 0 minutes later...

1 minute ago, paolo said:

Anyone know why gold and silver are going so much down today with stocks going down too and panic increasing?!

See the post from Shuggy a few hours ago.

[sixgun]

24 minutes ago, HawkHybrid said:

we've been using fiat currency for over 70 years now.

what are the odds that it will collapse in the next few years?

dotcom burst, housing market crisis have yet to make it collapse.

HH

We have been on a full fiat system since the dollar came off the gold standard in 1971.
As i explained - there were fixed exchange rates - currencies were linked to the dollar and the dollar was convertible into gold.
So only since 1971 have been had a full fiat system. 

What are the odds the fiat system will collapse in the next few years?

i would say as a percentage over 95% certain it will blow up. 

The Fed is doing QE right now. It denies it is doing QE but it is hosing $billions every night into the Repo system and every dollar gets taken.  The Emperor is wearing no clothes even if no-one will say so - the Fed is doing QE even if the officials won't say so.
Short dated Treasury notes are being dumped.  The dollar is being rejected - the US sanctions the world and it is a surprise that the dollar is rejected. The US has weaponised the USD and the world is sick of it. The yield curve is inverting. Interest rates on $trillions of government bonds are negative. The Fed can't raise rates and likely they will drop. The Fed claims inflation is below 2% - that is ridiculous - look at property prices, look at stock prices (except in the last few days) - look at people's cost of living - the USA rate of inflation is well over 10%. If the truth were told the interest rates would have to rised very significantly and the system would come down very rapidly. There are $trillions of dark money - the missing $21 trillion is only the start. There are $trillion of Eurodollars the Fed has not control over. A massive debt orgy where everyone has caught the clap.

The real indicators are flashing red, the sirens are sounding. The Titanic is sinking and the band keeps playing in case it scares the passengers. When the end comes it will be blamed on this that and anything but the gross criminality and utter mismanagement of the world economy. Perhaps this is the end - this COVID-19 epidemic - pandemic - this will be blamed - confidence falters and the house of cards starts tumbling. We are way way down the road and near the end. 
 

Edited February 25, 2020 by sixgun

[Kookaburracollector]

The bull market is over..I am now using CFD’s to short just about everything. Change the way you think people..make money as asset prices fall...that’s what the professionals do...join them...Use the profits to buy physical. 

[goldking]

 The bull market is not over at all.  Patience..

[Kookaburracollector]

2 minutes ago, goldking said:

 The bull market is not over at all.  Patience..

I have all the patience In the world....I have traded for 30 years...but we are in unchartered waters at the moment...a lot of people are about to lose an awful lot of money imho...just make sure you are not one of them...

[goluckystayhappy]

Never seen in POG drop so quickly as in the last few mins.  Must be another big paper dump just as the DOW closes and the gold market quiet for most effect.

[goldmember44]

10 minutes ago, Kookaburracollector said:

I have all the patience In the world....I have traded for 30 years...but we are in unchartered waters at the moment...a lot of people are about to lose an awful lot of money imho...just make sure you are not one of them...

This bull market is far from over, it is merely beginning. To have a better view, look at the long term chart. I'd venture a guess that within 5 years from now the price of gold would be double what it is now. You can print this out, date stamp and hang on your wall

[Guest]

43 minutes ago, paolo said:

Anyone know why gold and silver are going so much down today with stocks going down too and panic increasing?!

Selling of PMs by the big boys to meet margin calls, usd/cad about to break through major resistance as a flight to safety in the dollar overwhelms the rumour that the Fed will cut rates, technical shorting from resistance areas hit yesterday, 3 billion dump on Crimex, the usual Satanists at BIS, chill out, go to sleep for 5-10 years, wake up and retire, you'll be fine

[Kookaburracollector]

7 minutes ago, goldmember44 said:

This bull market is far from over, it is merely beginning. To have a better view, look at the long term chart. I'd venture a guess that within 5 years from now the price of gold would be double what it is now. You can print this out, date stamp and hang on your wall

Hi..when I said the bull market is over, I did not mean for gold..I meant for equities...as to what will happen to the POG who knows...If the playing field was level, gold would have rocketed today but it didn’t...it is a crooked market for sure...

[goldmember44]

1 minute ago, Kookaburracollector said:

Hi..when I said the bull market is over, I did not mean for gold..I meant for equities...as to what will happen to the POG who knows...If the playing field was level, gold would have rocketed today but it didn’t...it is a crooked market for sure...

Oh I see, my apologies, didn't read carefully. And yes. I agree.

[goldking]

21 minutes ago, Kookaburracollector said:

I have all the patience In the world....I have traded for 30 years...but we are in unchartered waters at the moment...a lot of people are about to lose an awful lot of money imho...just make sure you are not one of them...

Nah, I don't agree.  A pull back was always going to happen after such a sudden increase.  Look at the historical charts - it's done it every time, bumbled along at some artibrary point of resistance for a while and then started up the next ladder to a new high.  I agree with Bob above, there are margin calls to meet so there's a good chance we'll see drops til the end of the month.  I think if it gets down that far it'll hit resistance at £1220.  I don't think anyone holding physical is going to lose money in the mid to long term  .

[goldking]

16 minutes ago, goldmember44 said:

This bull market is far from over, it is merely beginning. To have a better view, look at the long term chart. I'd venture a guess that within 5 years from now the price of gold would be double what it is now. You can print this out, date stamp and hang on your wall

Nail your colours to the mast in my predictions thread I started earlier :

 

Everyone join in, it's just a bit of fun. 

[HawkHybrid]

31 minutes ago, Kookaburracollector said:

Hi..when I said the bull market is over, I did not mean for gold..I meant for equities...as to what will happen to the POG who knows...If the playing field was level, gold would have rocketed today but it didn’t...it is a crooked market for sure...

 

1 hour ago, Kookaburracollector said:

The bull market is over..I am now using CFD’s to short just about everything. Change the way you think people..make money as asset prices fall...that’s what the professionals do...join them...Use the profits to buy physical. 

now is not a good time to be calling tops.

the current drop is already showing signs of

putting in at least a temporary bottom soon.

 

HH

Edited February 25, 2020 by HawkHybrid

[Nick1368]

7 hours ago, sixgun said:

@HawkHybrid it is clear we never agreed about these things. You will come to realise sixgun was right. It might be 2020, it might be a couple of years off but it will not be decades or centuries away. The USD is being rejected massively - Saudi is selling oil in Yuan and has been since September 2018 - something that would have been unthinkable - short dated Treasury notes are being dumped. Foreigners are net sellers of Treasuries. The pace is picking up. The pace of change is in nanoseconds - on September 11th 2008 (a certain irony in the date) there was an electronic run on the banks. The system would have collapsed by the afternoon if steps to shut it down and prop it up had not occurred. It is too big now - the problems were never addressed they just got worse.

You are saving in gold - you are doing exactly the right thing. However much we disagree you will be alright as long as you have taken other prepper precautions. 

I agree with @sixgun , I think gold has it’s best days ahead of it rather than behind it and I think there will come a day that you can’t Buy an ounce of bullion gold for less than £10,000 and that day is not centuries or decades away, it’s around the corner, maximum 5 years from now, an economy crash is inevitable at this point, that’s what I think.

so I wouldn’t hesitate buying gold now just because spot Price has gone from  £1150 in December to £1250 in February.

Gold price will continue to rise at a much faster pace than ever before and it won’t look back.

[goldking]

Looks like another big dump in the last 30 mins to close earlier : $1650 down to $1630.  Another $3bn of futures dumped through the market? 

[paolo]

9 hours ago, bullionbob said:

Selling of PMs by the big boys to meet margin calls, usd/cad about to break through major resistance as a flight to safety in the dollar overwhelms the rumour that the Fed will cut rates, technical shorting from resistance areas hit yesterday, 3 billion dump on Crimex, the usual Satanists at BIS, chill out, go to sleep for 5-10 years, wake up and retire, you'll be fine

Then i would retire at 40😄

[goldking]

Gold finding its feet again after the b1tch slapping it got down to the low £1250s a couple of days ago.  Back up to £1282 as I write.  Who's taking bets for how high it will go until the BIS do another big dump? 

[Nick1368]

2 hours ago, goldking said:

Gold finding its feet again after the b1tch slapping it got down to the low £1250s a couple of days ago.  Back up to £1282 as I write.  Who's taking bets for how high it will go until the BIS do another big dump? 

back to £1300 again by 5 pm today 

[Tattoedamat]

Agreed think it's going to do a series of raise and dumps gradually increasing to new highs.

I've always been told when stocks go down PMs, especially gold goes up...my stocks have dropped almost £200 over all this week!

[Auricsstash]

IMHO This isn’t the big one it’s just a correction...