Are you still buying gold now its went up in price?

[frugalman]

10 hours ago, James32 said:

Take up a while lot of room though 😁

Highest note is £50 when it should be at least £500 compared with inflation since it's release back in the day. A £500 note would take up less space and would be easy to track and recover, but it would not make any money for the banks. 

If you store cash fg sake write the numbers down. even as proof of ownership  

[TeaTime]

£50 in 1725 (the first time they were issued) would be worth about £12,000 today... 😁

[frugalman]

1 hour ago, TeaTime said:

£50 in 1725 (the first time they were issued) would be worth about £12,000 today... 😁

I was talking about back in the day (my day lol) But you are making the point even more significant.

Banks don't like you storing cash outside of the banking system because they would lose any velocity it had, they don't really encourage saving within the banking system, they prefer you to borrow from them.

Even buying gold and silver keeps the fiat fully inside the banking system.

 

I believe there are databases of serial numbers for the larger denominations.

Otherwise why would they bother in marking them?

Forgive my grammer.

Edited November 12, 2021 by frugalman

[Guest]

I think inflation is going to get a whole lot worse guys, we've only seen the start of this.

I can see gold soaring to highest levels again.

[James32]

34 minutes ago, Floyd1504 said:

I think inflation is going to get a whole lot worse guys, we've only seen the start of this.

I can see gold soaring to highest levels again.

So do I!

Its ironic though because we buy gold as a hedge in the hope it goes up.

but when it does people freak out and hit the pause button on buying waiting for it to go down lol.

 

[Guest]

1 hour ago, James32 said:

So do I!

Its ironic though because we buy gold as a hedge in the hope it goes up.

but when it does people freak out and hit the pause button on buying waiting for it to go down lol.

 

That's so true, I was the same with Bitcoin and sold 4 I had when the price went up to 8k. If only I'd left it I'd have been selling my house and buying a cracker. 😭😭

[KevinFlynn]

Think of weight, not price, people 👆

I'm not price insensitive, but I'm always happy when I can convert cash to gold.

[Guest]

8 minutes ago, KevinFlynn said:

Think of weight, not price, people 👆

I'm not price insensitive, but I'm always happy when I can convert cash to gold.

Oh yes, there's nothing like holding ounces of gold.

Sometimes I'd even take them to bed with me. 😜🤣🤣

[KevinFlynn]

7 minutes ago, Floyd1504 said:

Oh yes, there's nothing like holding ounces of gold.

Sometimes I'd even take them to bed with me. 😜🤣🤣

Right, Scrooge McDuck 🤗

[Guest]

1 hour ago, KevinFlynn said:

Right, Scrooge McDuck 🤗

It's a comfort thing Kevin, it's so nice to hold you don't wanna let go of it and as I'm single and in a king size bed myself, there's room for a bit of gold. 😁😁

Maybe I'm just a bit weird. Lol

 

[Pete]

It is both a roller-coaster and a gamble.
If you were lucky enough to buy on a big dip you will be up, but can spot slide back down - yes.
As soon as some big announcement is made by the Fed - e.g. a nice jump in interest rates - many of the big institutions will move into cash and bonds.
As Covid slowly fades away in the G20 there could be nice rises in stock markets with the big gold buyers switching into funds so gold can dive.
So .. so...so .. unpredictable.

I am not buying any gold at current prices and may regret that but why is platinum still relatively cheap compared to gold ?
It is rarer, more expensive to mine and was once much more valuable than gold so which of the two metals is 'artificially' priced ?

 

[Guest]

9 minutes ago, Pete said:

It is both a roller-coaster and a gamble.
If you were lucky enough to buy on a big dip you will be up, but can spot slide back down - yes.
As soon as some big announcement is made by the Fed - e.g. a nice jump in interest rates - many of the big institutions will move into cash and bonds.
As Covid slowly fades away in the G20 there could be nice rises in stock markets with the big gold buyers switching into funds so gold can dive.
So .. so...so .. unpredictable.

I am not buying any gold at current prices and may regret that but why is platinum still relatively cheap compared to gold ?
It is rarer, more expensive to mine and was once much more valuable than gold so which of the two metals is 'artificially' priced ?

 

Hello Pete, I'd advise getting into Gerald Celente. He's the number one trwnds forecaster and always seems to be on the button.

His market trends magazines are invaluable. 

[Centauri167]

I stopped buying when gold reached around 48000-49000 euro/kg.  50000 euro/kg is my stop limit for the moment. It is now 52377 euro/kg.

 

 I think the next days/ weeks it will still get higher but when inflation will keep getting worse, intrest rates will go much higher and gold will get a big dip, at that moment I will start buying again. Lesson one in investing, that they teached me, never buy at the top !

[Coverte]

Potentially, but it would depend primarily on the Gold Type and % premium over/under spot.

[James32]

2 minutes ago, Coverte said:

Potentially, but it would depend primarily on the Gold Type and % premium over/under spot.

 

14 minutes ago, Centauri167 said:

I stopped buying when gold reached around 48000-49000 euro/kg.  50000 euro/kg is my stop limit for the moment. It is now 52377 euro/kg.

 

 I think the next days/ weeks it will still get higher but when inflation will keep getting worse, intrest rates will go much higher and gold will get a big dip, at that moment I will start buying again. Lesson one in investing, that they teached me, never buy at the top !

Is this the top??? 

[James32]

4 minutes ago, Coverte said:

Potentially, but it would depend primarily on the Gold Type and % premium over/under spot.

Cast bar , slightly under spot,  50grams of pure goldeness??? Gowannnnnnn🤣🤣🤣🤣🤣

[Coverte]

Just now, James32 said:

 

Is this the top??? 

I very much suspect we will see higher as we move along in 2022 - still lots of people wanting out of fiat, and a % of those either not understanding or alternatively not trusting crypto

[James32]

17 minutes ago, Coverte said:

I very much suspect we will see higher as we move along in 2022 - still lots of people wanting out of fiat, and a % of those either not understanding or alternatively not trusting crypto

I'm inclined to agree very much.

[dicker]

I don’t even bother timing it and yes will keep buying - pound cost avg is my friend.  

 

[noddycoder]

8 hours ago, Floyd1504 said:

I think inflation is going to get a whole lot worse guys, we've only seen the start of this.

I can see gold soaring to highest levels again.

Agreed.

[RDHC]

3 hours ago, Coverte said:

I very much suspect we will see higher as we move along in 2022 - still lots of people wanting out of fiat, and a % of those either not understanding or alternatively not trusting crypto

Yes, plus the prospect that central banks may start to issue their own cryptos, which, I assume - but perhaps I am wrong? - would take the wind out of the sails of Bitcoin 'et al'. The Bank of England has already taken a tentative step in that direction. That would still leave Bitcoin with its 'hot money', dodgy clients, but would that be enough for continued support from the speculators and those that believe, rightly or wrongly, in Bitcoin as an everyday medium of exchange? I don't know myself, but perhaps others do.

[Centauri167]

3 hours ago, James32 said:

 

Is this the top??? 

Is this the Top, no, I'm sure it can/ will go higher but I'm also pretty sure that after the Fed increases the intrest rates the price will be much lower than today.

[CANV]

Plenty of scope for loads higher and lower..   as mentioned a few interest  rates rises puts a top on all pm’s .

but then you have Putin,  who must be laughing into his vodka every evening as he takes the piss out of the EU and nato dicking about near the Ukraine and with gas 

but sometimes these ‘cold wars’ can get a bit hot and then gold will kick off.  Along with all commodities.    
 

inflation I think will be a lot harder to deal with than the BOE/FED/ECB et al think.   And the unions are getting a bit feisty on pay now as well ..

our governments solution to any problem seems to be print more money and hose it around 

[Coverte]

1 minute ago, Centauri167 said:

Is this the Top, no, I'm sure it can/ will go higher but I'm also pretty sure that after the Fed increases the intrest rates the price will be much lower than today.

The Fed (and ECB and BoE come to that) all have very limited scope to make any meaningful interest rate rise, because of all of their insane debt levels, it (interest) would need to be into double figures to reflect reality, but they can't afford to do that.

When you get into a spiral like this with real inflation in double digits, they're is no precedent what to do; their biggest mistake was trying to manage deflation - and they overshot - badly - so the only answer IMO is hard assets, but also maybe keeping some fiat money for any forthcoming market/s correction/s which will then very likely offer some much more realistic valued equities, according to individual risk appetite.

[CANV]

I’ve always found the stock market falls that accompany an inflationary  crisis amusing.   What else can you buy.    Property PM’s and stocks .