How often do you check gold prices?

[Kitalon]

Here's quick a question for you how often do you check gold prices?

Do you check it monthly, weekly or daily?

Ever since I first learned about sovereigns back in Nov '23 I've taken a keen interest in what the gold markets are doing and how they behave. I have learned a lot about spot value, price action, technical and fundamental analysis and geopolitical events, etc. I have since moved on from physical bullion/coins to making investments through gold ETFs/ETCs. I have also gone one step further and started day trading exclusively on gold CFDs, and you know what it's turned out to be really quite profitable especially in this current bull gold market.

I've learned a lot about why gold prices have been increasing and have used this knowlegde to my advantage. As a newly started gold trader I can now take full advantage of not only the bull runs to the moon but also the dips and volatility as a whole. These are exciting and profitable times and I have found it to be a real opportunity to get rich on gold (something I didn't originally think was possible). I'm still developing my long-term trading and investment strategies and looking forward to quitting my job, retiring early and a radical change of lifestyle. All thanks to gold!

And to answer my original question for myself; more times than can be counted, minute by minute, morning and afternoon, every day between the open and close bells. Ding ding, kerching!

 

Edited April 21 by Kitalon

[CoinCupboard]

@bobski never checks it. 

[KitchenCollector]

When I started it was twice a day, then I got bored and that changed to be a couple of times a year, but since I joined TSF it's there on the banner, so back a few times a day again.

For me, if I'm looking to hold long term, I would hardly ever bother.

[Petra]

16 minutes ago, CoinCupboard said:

@bobski never checks it. 

Just wild guesses🤔😮😁😁

9 minutes ago, KitchenCollector said:

When I started it was twice a day, then I got bored and that changed to be a couple of times a year, but since I joined TSF it's there on the banner, so back a few times a day again.

For me, if I'm looking to hold long term, I would hardly ever bother.

Depends what and where buying or selling🤔

[refero]

I check it multiple times per day, even if i m not very active on the market and not able to grab good deals as they pop. It s more like “woooot” or “nooooouuuu”

[SidS]

When the banner on here doesn't work maybe once a year. Some years in the past, I never looked at all.

The banner catches my eye now, so I see it all the time.

Edited April 21 by SidS

[AaaGee]

Browse a couple of times a day.

Then a more calculated look (per gram) just before a purchase.

Edited April 21 by AaaGee

[Minted]

At least once a day when I'm looking to buy something.  Rarely check at all the rest of the time.

[bobski]

4 hours ago, CoinCupboard said:

@bobski never checks it. 

It’s just always there in front of me. By following the gold monitoring thread, you’re constantly checking it with me

[bobski]

I work from home, have a nice computer with plenty of screen real estate. It’s always there

[Gordy]

all the time, even when i'm asleep..... 

[SidS]

4 minutes ago, Gordy said:

all the time, even when i'm asleep..... 

It's even better because the numbers you see, James32 is typing in on his terminal at the other end. 😁

[Petra]

Don’t forget the running total of your stack🤔😮🔥⬆️⬆️⬆️

[TeaTime]

My gold has never been an alternative to a pension fund or a savings plan, just a short term holding i will sell when the price gives me enough profit.

Right now i am checking every day waiting for the £2k ounce.  When (?) it hits i will sell..

[Abyss]

I check the Gold price in USD 16 times in single day or 80 times week and the same goes for Silver. You would logically think I have a problem or suffering from some kind of addiction..... But I only check because it is part of my role as I am trading these metals and other instruments on the 1 hourly chart. @Kitalon you mentioned gold ETFs/ETC I am using CFD's with AfterPrime as my broker. The spreads are very good $0.013 Gold and $0.006 or Silver leverage 100:1 and round turn commission $3.5 per contract (negotiate with the broker for lower fees) using TradingView as my charting package. I find this to be the most efficient way to speculate on the short term price swings of the metals.

 

My physical stack of Gold that I have already accumulated and will add to I have decided a long time ago will never be sold and passed down to my son when I pass away.

Cautionary warning. I strongly advise anyone against trading on margin on Gold or other financial instruments (FX, Indexes, Crypto, Metals, Energy, Stocks,) unless you have a proven edge in the market place that has been thoroughly back tested (ideally 3 years). You have trading plan backed up with thousands of screenshots and notes collated during the back testing process and have a proven money management / risk management approach and have significantly worked on your emotions and can place margin trades without getting emotionally involved. If you don't have this in place then trading on margin will be fastest way to financial ruin / psychological damage.

[Thelonerangershorse]

On 21/04/2024 at 16:40, Petra said:

Don’t forget the running total of your stack🤔😮🔥⬆️⬆️⬆️

Been on holiday this week, and one of the things I did was an accurate check on my stack, to the gram, since the total is written on the notepad next to my computer, I can't help but do this every time the price changes.

[Paul]

You don't need to look it up in the gold monitoring GBP £ thread, we have our our own personal gold price butler @bobski

Edited May 11 by Paul

[DisplayName]

When updating the spreadsheet after a new purchase. Helps keeping track of all kinds of things like average purchase price, historical trends and may provide an idea of where pricing could be headed. 

[Kitalon]

On 09/05/2024 at 09:58, Abyss said:

I check the Gold price in USD 16 times in single day or 80 times week

You totally converted me to watching the XAU/USD when you previously told me about gold being traded in dollars. I rarely even look at the price of gold in good old Stirling now except as a passing interest (because I'm not currently buying physical bullion in the UK) and all my trades are conducted in USD anyway.

Great info and thanks for the heads-up about AfterPrime I will certainly check it out. Yes I totally agree Trading View is a great platform (even the free version) although I only use it for my watch list, charting, researching fundamentals, and watching the price action of gold in the background, I carry out my trades elsewhere (for free). I'm all up for freebies me! 😎

Edited May 10 by Kitalon

[Spark268]

TSF members think about the gold price on average every six seconds 🤓

[Happypanda88]

I check the gold price religiously everyday, even at weekends when markets have closed. 🙃

I've book-marked goldprice.org on my mobile devices and PCs ( home and work ) since Q1 2015. 

I remembered gold price dropped below £700 spot when working from home in my sister's house. 

Look where we are now ! 🤑

Edited May 10 by Happypanda88

[Abyss]

20 hours ago, Kitalon said:

You totally converted me to watching the XAU/USD when you previously told me about gold being traded in dollars. I rarely even look at the price of gold in good old Stirling now except as a passing interest (because I'm not currently buying physical bullion in the UK) and all my trades are conducted in USD anyway.

Great info and thanks for the heads-up about AfterPrime I will certainly check it out. Yes I totally agree Trading View is a great platform (even the free version) although I only use it for my watch list, charting, researching fundamentals, and watching the price action of gold in the background, I carry out my trades elsewhere (for free). I'm all up for freebies me! 😎

I am also not buying physical Gold mainly due to planning to migrate to the USA next year. When black Friday deals happened I purchased multiple Premium subscription of TradingView for £260.40 per year still have 800+ days left. Best advantages of TradingView is broker integration and the ability to place trades directly from the charts, you can manage trades and move stop loss or profit targets directly from the charts in TradingView IMHO it is the best charting software in the world (I am using Windows Desktop Application for TradingView). You can see all the brokers supported by TradingView in the image below.

[Petra]

19 hours ago, Happypanda88 said:

I check the gold price religiously everyday, even at weekends when markets have closed. 🙃

I've book-marked goldprice.org on my mobile devices and PCs ( home and work ) since Q1 2015. 

I remembered gold price dropped below £700 spot when working from home in my sister's house. 

Look where we are now ! 🤑

What price we at 🤔😁

[Chronos]

I have an implant that sends the price right into my brain.

Works great, it just that I hear this humming sound when the price is falling. The more the price falls, louder the sound gets.

Annoying.

 

[James32]

5 minutes ago, Chronos said:

I have an implant that sends the price right into my brain.

Works great, it just that I hear this humming sound when the price is falling. The more the price falls, louder the sound gets.

Annoying.

 

I'd see a doctor about that, sounds like Schizophrenia