Gold Monitoring Thread £ GBP only

[Deputydog]

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

[paolo]

11 minutes ago, Deputydog said:

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

i think it depends on how many you already have. If you have zero then you should buy now, if you already have some good reserve then i would wait a bit still.

[maminzlaten]

20 minutes ago, Deputydog said:

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

This is not a crisis like anything we could have imagined. It will hit the financial system hard, but right now the real gold are respirators, desinfectants and gloves. At least here people are freaking out and fighting over bread. I want to buy this dip, but I am a bit worried if I will actually receive my stuff any time soon. Countries are closing borders. Who knows if the EU will actually exist.  And in the local auction site, people are rising prises, not lowering them

Edited March 16, 2020 by maminzlaten

[Sparrow]

24 minutes ago, Deputydog said:

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

Think of it this way.  These are extraordinary times.  Whether you buy now or wait and see if it goes lower, you're probably still getting a great deal compared with what the prices will do when the normal price patterns resume.  One day £1,200 an ounce will be a low that we will never be able to even dream of seeing again.  So even if you buy at the "wrong" moment, you're still winning.

 

Edited March 16, 2020 by Sparrow

[Nick1368]

15 minutes ago, Deputydog said:

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

in my opinion it is a very very good time to buy gold now.

countries are in lockdown because of coronavirus, there is an oil war between Russian and Saudi Arabia, Iran keeps attacking US and UK military camps in Iraq, climate change causing bushfire and heavy flooding and there is a global economy crash approaching us.

By what I learnt whenever there is chaos in the world is a good time to buy gold and since I've been alive there has never been more chaos in the world .

I will continue buying and see what happens.

 

[Deputydog]

Thanks for all the replies, i might be visiting Chards then, other places seem sold out.

Deputydog

[goldking]

39 minutes ago, Deputydog said:

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

If anyone wants to offload their sovereigns at the current £282 spot price before gold goes back under a grand  and you lose all your money, you can click the private message button on my profile and send me your bank accounts details and I'll give you my address to send them off to. 

Edited March 16, 2020 by goldking

[JunkBond]

[goldking]

Sharps are doing sovs for 1.7% over premium, ie. fiver over spot.  Usually it's about 3.5%.  Site is really slow to load and update, but the price is legit and goes all the way through to the payment screen if any of you want to load up.  That includes postage as well btw.  I'd be buying if I had the funds right now.

Edited March 16, 2020 by goldking

[Safestacker]

God dam. Just bought one from the RM for £304. Wish I’d have saw this before. 

[Xander]

The last time ( Feb 2018 ) l I bought 10 Sovs it cost me £2310. Now its around £2950 not sure if it will ever return to that price, you never know though.

[goldking]

52 minutes ago, Safestacker said:

God dam. Just bought one from the RM for £304. Wish I’d have saw this before. 

You bought a standard bullion sov from RM ?!  

[Safestacker]

27 minutes ago, goldking said:

You bought a standard bullion sov from RM ?!  

Yep. Didn’t think they were cheaper elsewhere. I checked around and they were more expensive than the RM bullion website but didn’t check sharpes. 

Edited March 16, 2020 by Safestacker

[Minimalist]

9 minutes ago, Safestacker said:

Yep. Didn’t think they were cheaper elsewhere. I checked around and they were more expensive than the RM bullion website but didn’t check sharpes. 

Here is a great resource, mate.

Quote

http://goldprice.eu5.net/

 

[goldking]

Well I don't know about you guys but I was surprised to see gold get a nice little boost at the end of the day even though the DJIA tumbled by over 1000 points in the last hour to close just shy of 3000 points down .  That is freakin insane!  GBP closed on £10 down for the day which isn't bad going considered the huge wall of bad news that hit the world today.  Picture looks worse in USD though, losing around $30 on the day.  More turbulent skies ahead, buckle up tight!

[Empire]

11 hours ago, Deputydog said:

Is this the right time to buy gold coins or do people think the spot price will get lower, checked some UK websites, not many sovs left in some.

Probably a stupid question but if you dont ask.

Thanks

Deputydog

I'd say yes, but it depends. I'd prioritise physical cash, then gold. If SHTF, then gold won't really be much use anyway, until after things have calmed down.

[Safestacker]

Yeah what happens if no one buys the gold and silver then we have a load of money that can’t be used if needed. 

[5huggy]

14 minutes ago, Safestacker said:

Yeah what happens if no one buys the gold and silver then we have a load of money that can’t be used if needed. 

there will be signs - then youcan blow your cash into GOLD +SILVER before the "Herd" of the WHOLE PLANET tries

Just imagine if they can PANIC like they have over bog roll - I CAN'T WAIT for the same raid on PM's

[paolo]

https://investmentresearchdynamics.com/extreme-disconnect-between-paper-and-physical-gold/

[goldking]

4 hours ago, Safestacker said:

Yeah what happens if no one buys the gold and silver then we have a load of money that can’t be used if needed. 

I don't know about silver but gold will always sell.  Even if a SHTF situation comes, if you advertise on here a bit under spot price someone will buy it to add to their long term stash.  It doesn't matter what the variant of "money" is at the time.  Let's imagine fiat disappears and we're all using bitcoin; if 1 oz of gold is deemed to be worth 5000 btc then there'll be people with 5000 btc to transfer to you in exchange for the gold coin.

[Zhorro]

4 hours ago, 5huggy said:

Just imagine if they can PANIC like they have over bog roll - I CAN'T WAIT for the same raid on PM's

But again, that was the paper market!

[5huggy]

Well thats a nice turn around lets see how far it will go!

v   

STILL a SEA of red on LSE!

Edited March 17, 2020 by 5huggy

[Midasfrog]

8 hours ago, Safestacker said:

Yeah what happens if no one buys the gold and silver then we have a load of money that can’t be used if needed. 

Gold and silver will always be a currency silver bullion coins and sovereigns can be cut into smaller fractions using simple tools ( a hammer and knife ) 

[paolo]

Did anyone notice that all main dealers in europe have pratically all silver out of stock, except collectables?

Pratically all standard bullions are sold out everywhere, and very few available are over 16.5 euros, with silver at 11.30 euros..

spread is almost 40% if anything available at all

Edited March 17, 2020 by paolo

[goldmember44]

Just now, paolo said:

Did anyone notice that all main dealers in europe have pratically all silver out of stock, except collectables?

Pratically all standard bullions are sold out everywhere, and very few available are over 16.5 euros, with silver at 11.30 euros..

Yes, I don't think it's really sold out... they're just not selling it for giveaway prices. It will miraculously come back into stock when the price has recovered...