The coming Gold crash

[Oldun]

I do not follow your every post surprisingly enough to you it seems.  😄Good luck with buying at $400. I hope you are right...rooting for ya big fella.

I’ll be all over that price like a fly on terrible. 

 

Edited March 26, 2020 by Oldun

[Wonger]

2 minutes ago, Zhorro said:

Why don't we all just sit back and see what happens?

Though...

If you think everything is going to collapse, why are you so worried about gold and silver?

I didnt say i was worried, im a futures trader and I think the Gold price will now collapse, so Im short, its just another day at the office

[Wonger]

2 minutes ago, Oldun said:

I do not follow your every post surprisingly enough to you it seems. 😄Good luck fella. with buying at $400. 

 

 

I dont trade luck, I trade probability im afraid! 

[Oldun]

Would be excellent if you actually posted some trades so we can see how your mind works with such things.

[Oldun]

11 minutes ago, Wonger said:

I dont trade luck, I trade probability im afraid! 

You bloody well should be trading probability as a trader or you would be an awful trader ! How often do you find the probability factor is right or wrong ? Do you use technicals ? I assume you do. Please do post some trades here. It would be far more helpful for everyone. You let yourself down when you say you expect gold to fo down $300 tomorrow and it doesn’t. You should try to see it from the readers’ perspective.

Edited March 26, 2020 by Oldun

[Wonger]

5 minutes ago, Oldun said:

You bloody well should be trading probability as a trader or you would be an awful trader !  Please do post some trades here. It would be far more helpful for everyone.

Yesterday I did, shorting into June futures near $1700, also posted intentions the day before on the Silver thread that I would be shorting into $1630/40 area

[Oldun]

9 minutes ago, Oldun said:

You bloody well should be trading probability as a trader or you would be an awful trader ! How often do you find the probability factor is right or wrong ? Do you use technicals ? I assume you do. Please do post some trades here. It would be far more helpful for everyone. You let yourself down when you say you expect gold to fo down $300 tomorrow and it doesn’t. You should try to see it from the readers’ perspective.

 

[Oldun]

4 minutes ago, Wonger said:

Yesterday I did, shorting into June futures near $1700, also posted intentions the day before on the Silver thread that I would be shorting into $1630/40 area

So what are you up for next ? This type of thread, morphing into a real trading chat is waaaaay more useful. Just keep posting your intentions for trades and encourage discussion opinions on trades, orherwise this thread just becomes another pissing match between traders and stackers.

Edited March 26, 2020 by Oldun

[Wonger]

23 minutes ago, Oldun said:

So what are you up for next ? This type of thread, morphing into a real trading chat is waaaaay more useful. Just keep posting your intentions for trades and encourage discussion opinions on trades, orherwise this thread just becomes another pissing match between traders and stackers.

Well Intention was to short into $1630/40 spot but due to complete dislocation yesterday in the Gold markets, was getting filled between $1650-70 June contracts, so we will see what happens now, anyone who said they knew what was going on yesterday is full of c**p, we were flying blind  

[Oldun]

I have technicals for a push to 1800 through April. I will not play short term trades as the swings are too wild right now and it is far too much guesswork intradaily.

Agreed that nobody can call the market right now....

Edited March 26, 2020 by Oldun

[5huggy]

South African Gold Shipments to London Have Been Cut Off!

From here - - > >https://www.bnnbloomberg.ca/south-african-gold-shipments-to-london-have-been-cut-off-1.1412974

(Bloomberg) -- A South African refinery has stopped shipping gold to London because of a lack of commercial flights, adding to the disruption that’s upending the physical bullion market.

South Africa’s Rand Refinery Ltd., the continent’s only gold refiner, said it’s exploring back-up plans and alternative measures to be able to meet its delivery commitments to the London gold market.

“The supply from the established mines on the African continent to the refinery is currently disrupted,” said Chief Executive Officer Praveen Baijnath. “We are working hard with global logistics service providers to ensure our inbound and outbound commitments can be achieved.”

He didn’t specify how much gold could be affected. Still, it’s another example of how the supply chain -- which runs from deep African mines to refineries and storage vaults -- is being upended by the coronavirus. Earlier this week, refineries in Switzerland also announced they would temporarily close.

In one sign of how things have slowed down, shipping Russian gold overseas can now take about a week instead of a day, said Alexey Zaytsev, head of commodities & funding products at Otkritie bank.

The Rand Refinery is running at reduced capacity during a national lockdown, even though the company was exempted from restrictions, said Baijnath.

He said it’s important to keep some processing going because selling gold is an important source of foreign exchange revenue. The facility refines gold for companies including AngloGold Ashanti Ltd. and Gold Fields Ltd., which operate mines throughout Africa.

“A complete shutdown of the refinery would have had a domino effect on the production on the continent,” he said. “Moreover, stockpiling of mined gold on the surface would have heightened security risk for any mine.”

[Uksilverstackers]

5huggy - Not just Gold....

National shutdown in South Africa

https://www.miningmx.com/top-story/40909-sa-mining-faces-15-production-knock-in-2020-as-it-prepares-for-national-lockdown/

[Viga]

Dent as well has predicted that will go down to 400/600 before jumping to new record...

I don’t know but I’m hoping so! I still need to buy a lot more, I only started couple of years ago.
I will be start buying when goes back at 39£ And keep buying from there though!

 

 

 

[Wonger]

7 hours ago, Viga said:

Dent as well has predicted that will go down to 400/600 before jumping to new record...

I don’t know but I’m hoping so! I still need to buy a lot more, I only started couple of years ago.
I will be start buying when goes back at 39£ And keep buying from there though!

 

 

 

Dont worry, I think you will be very happy that you didnt buy all your stack up at these prices as its going to go far lower than anyone can ever imagine on here and lower than that because it can and then lower some more in my experience of trading!

[sixgun]

18 minutes ago, Wonger said:

Dont worry, I think you will be very happy that you didnt buy all your stack up at these prices as its going to go far lower than anyone can ever imagine on here and lower than that because it can and then lower some more in my experience of trading!

But Wonger can you guarantee that the physical price members can buy their gold and silver at will be far lower than anyone can ever imagine?
Only if you can guarantee that is what you are saying going to be of any use to members.
The paper price fell and it became harder to buy physical and it was often more expensive.

[Foster88]

You can have your opions on gold but through 2020/2021, it’s going up. Not down. I remember clearly the 2008/2009 recession, I think this one will be worse.

Don't get me wrong, I’d rather we were not in these unprecedented times and I fear we won’t be the same nation after this. I’d rather we have a stable economy any day and see little gain in my small gold reserve but recession is coming and an increase in gold is going up.

Regardless, I’ve done what matters most and signed up to be an NHS Volunteer. At a time like this I couldn’t care less about the price of gold.

Edited March 29, 2020 by Foster88

[Melon]

On 26/03/2020 at 21:14, Wonger said:

Called it 2 years ago, please keep up if you want to play the game!

If you called the price of gold crashing 2 years ago, doesn't that just mean you're wrong? 🙄

[AuricGoldfinger]

🍿 

[Wonger]

Interesting that Eurodollar futures are pricing in just .29 basis points on USD Libor in 12 months time, if we are going to get a huge USD rally short squeeze to bring this house of cards down then these Eurodollar futures are not backing this up, its quite the opposite, its pricing in USD weakness!   

[Wonger]

Heres the latest Gold COT, it flies in the face of the commercial banks scrambling to get out of their short positions causing the recent sharp rally in the Gold price, quite the opposite they just increased their short exposure!

[sixgun]

Let them crash the price - the rush to physical will continue. i want physical. Keep it coming.

[silenceissilver]

On 28/03/2020 at 03:19, Foster88 said:

I think, I might be wrong but I think we are heading for a huge recession.

I think, I might be wrong but I think we are heading for rain somewhere in the UK, in 2020/2021.

But I might be wrong.

[sixgun]

2 minutes ago, silenceissilver said:

I think, I might be wrong.....

More potential Wrong Think on the forum - this has been detected and reported to the Thought Police.

[Michal]

1 minute ago, silenceissilver said:

I think, I might be wrong but I think we are heading for rain somewhere in the UK, in 2020/2021.

But I might be wrong.

Globaly, and not rain but storm from hell. Interesting times we are living in. I just regret didn't accumulate more PM.

[Michal]

2 minutes ago, sixgun said:

More potential Wrong Think on the forum - this has been detected and reported to the Thought Police.

Wonger said he will buy gold for 400$ he just forget to say that will buy 1g of gold for it 😀