Will gold hit $1,500 this year?

[NicksLottery]

On 30/01/2018 at 13:06, sixgun said:

BullionCoin and the ABX attempted a link up last year. The Whitepaper was released and then the ABX walked away in September. i was interested in this coin, there were to be 1g gold and 50g silver coins but then out of the blue they presented it as a big investor coin with a minimum investment of $250 000 and not something for the average guy.

Kinesis will be selling $1000 coins in the ICO. i do not know quite how that works, not a logical unit when dealing with metals. i have not followed BullionCoin since September so i do not feel i am in a position to comment. BullionCoin was about to launch and i expect ABX walking away put everything back for them but the ABX were unhappy about the vaulting arrangements (which did not favour them as much) and there was apparently doubts about ownership of the metal that it would not be allocated, it would be an asset of BullionCoin - a massive red flag. How it stands now i have no idea.

Having studied BullionCoin as it was and Kinesis as it is, Kinesis is streets ahead. The main thing is there is big money lining up to invest which will create liquidity and high velocity in the coin - all good for minters.

Bullioncoin has come a long way since it parted company with ABX.  Bullioncoin will be available vin 10,000 units to primary and secondary, however it has also partnered with legacygold whereby we can supply from 1 unit upwards ( the price of 1 gram of gold or 50 silver) making it accessable to ' the many, Not the few' ??,.  Affording a yield to the digital title owner ,who will have spend their initial purchase,. Hence the lifetime yield is forever free..   I am very much in the dark over kinesis as they are yet to release a white paper 

[Alex]

1 hour ago, JCRJM said:

Everything is dipping, gold, silver, crypto and at this time I have 0 money to blow?

You have time my friend.If my crystal ball is right it`s gonna be a bearish year 

[FlorinCollector]

1 minute ago, Alex said:

You have time my friend.If my crystal ball is right it`s gonna be a bearish year 

I hope your crystal ball is correct. I missed the sale of Wireless festival tickets so paid a fairrrr amount over to get one :/ 

[Alex]

1 minute ago, JCRJM said:

I hope your crystal ball is correct. I missed the sale of Wireless festival tickets so paid a fairrrr amount over to get one :/ 

I would have done the same.Better to enjoy life that way 

[mr-dead]

Seems @nickslottery has joined to forum to spam bullioncoin

2 posts, 2 bullioncoin hits.

[Alex]

22 minutes ago, mr-dead said:

Seems @nickslottery has joined to forum to spam bullioncoin

2 posts, 2 bullioncoin hits.

Just another tulip/ponzi scheme. 

[sixgun]

2 hours ago, NicksLottery said:

Bullioncoin has come a long way since it parted company with ABX.  Bullioncoin will be available vin 10,000 units to primary and secondary, however it has also partnered with legacygold whereby we can supply from 1 unit upwards ( the price of 1 gram of gold or 50 silver) making it accessable to ' the many, Not the few' ??,.  Affording a yield to the digital title owner ,who will have spend their initial purchase,. Hence the lifetime yield is forever free..   I am very much in the dark over kinesis as they are yet to release a white paper 

1 unit of gold is 1g - 10 000 units is 10kg of gold. This is an even bigger initial cash investment than it was before.

10g of gold through Legacygold is charged at £ 348.10 (0.32 troy oz) £1087/oz = $1538/troy oz.

Larger amount of gold are not quoted, so i do not know how this scales up. That is a 15% premium on the spot price. This makes BullionCoin either something for a bigger investor willing to put at least 10kg in the mix and for the smaller investor it is not viable.

Point out any failings in my calculation or conclusions. i do not know what the exact figures for Kinesis will be but you can buy gold on the ABX for a lot less than a 15% premium.

i have been told that Kinesis kicks off its pre-sale on Monday so i will be able to compare directly. If BullionCoin does not match up positively then it is pretty much doomed to fail.

[Alex]

2 minutes ago, sixgun said:

1 unit of gold is 1g - 10 000 units is 10kg of gold. This is an even bigger initial cash investment than it was before.

10g of gold through Legacygold is charged at £ 348.10 (0.32 troy oz) £1087/oz = $1538/troy oz.

Larger amount of gold are not quoted, so i do not know how this scales up. That is a 15% premium on the spot price. This makes BullionCoin either a bigger investor willing to put at least 10kg in the mix and for the smaller investor it is not viable.

Point out any failings in my calculation or conclusions. i do not know what the exact figures for Kinesis will be but you can buy gold on the ABX for a lot less than a 15% premium.

It`s just bullion 

[sixgun]

13 minutes ago, Alex said:

It`s just bullion 

Well not just bullion. People buy vaulted bullion where title of ownership is held on the blockchain. These units of title are the coins. You can then spend or trade these coins and so sell your gold (or silver).

The coin cost has to be fairly close to spot price or it does not become an investment vehicle that will take off. OneGram had similar frontend costs to the sort of figures i have just worked out for BullionCoin. These costs are way too high to gain traction which is probably why we haven't heard about OneGram other than in passing.

At this moment a 100g Swiss bar can be bought on the ABX Metal Desk platform through Hong Kong for a rate of $1331/oz. Compared Legacy $1538. Granted i cannot directly compare as i cannot see the price of 100g bar from these people but this is nowhere near.

i don't know yet how Kinesis will work out cost wise but with those sort of buying prices for bullion the chances are it will be a more viable solution.

[Alex]

54 minutes ago, sixgun said:

Well not just bullion. People buy vaulted bullion where title of ownership is held on the blockchain. These units of title are the coins. You can then spend or trade these coins and so sell your gold (or silver).

The coin cost has to be fairly close to spot price or it does not become an investment vehicle that will take off. OneGram had similar frontend costs to the sort of figures i have just worked out for BullionCoin. These costs are way too high to gain traction which is probably why we haven't heard about OneGram other than in passing.

At this moment a 100g Swiss bar can be bought on the ABX Metal Desk platform through Hong Kong for a rate of $1331/oz. Compared Legacy $1538. Granted i cannot directly compare as i cannot see the price of 100g bar from these people but this is nowhere near.

i don't know yet how Kinesis will work out cost wise but with those sort of buying prices for bullion the chances are it will be a more viable solution.

I was being sarcastic. I agree with you,It has to be near spot.Vaulting is good if you buy a lot and sell a lot.

[BigDave84]

On 1/27/2018 at 09:21, C12 said:

It all depends on whether we get a severe financial crash within the next 12 months. If so, I expect gold will get hit (as with everything) and a rush into cash. 

The other option is we go directly to inflation which may last another 2 -3 years before everything tops out with massive blow off tops. Gold will surely see an impressive move up to $4,000 in this scenario.

I just feel we have to go through a lengthy deflationary period at some point before we get the destructive inflationary cycle that takes gold to $10,000 and beyond. This might be 10-15 years away (which ties in with the 30-year commodity cycle peak). 

I'm positioned for both scenarios with around 40% of my savings in physical gold / silver and have cash sat on the sidelines. 

I'm positioned the same as you. I'm positioned for both scenarios. Either way this is a year to be buying gold and holding it.

 

[mongo28]

Looking for a big bounce/jump this week in spot. Should rebound $15 in the next few days...

[Pampfan]

I have been slowly moving silver out and gold in to the stack - added almost 2 ounces in the past month - while getting rid of the last graded silver coinage I had and some old filthy USA junk silver. 

Still early in the year - gold should have a great bull run to the end.

[mongo28]

I have been slowly moving silver out and gold in to the stack - added almost 2 ounces in the past month - while getting rid of the last graded silver coinage I had and some old filthy USA junk silver. [emoji14]
Still early in the year - gold should have a great bull run to the end.

Nearly 3 oz in the past month! Great minds think alike!

[mongo28]

Calling for a big run on gold this weekend with stocks down the toilets! Breaking $1350

[Pipers]

Here in the UK we have just had a nice dip today . As for Gold breaking $1500 this year the only way i can see that is if there is a run on the $ or a run on the Euro or a war. 

Gold will get there again easy its just a waiting game and if it gets there sooner then just smile and be happy  

[Pipers]

Oh yeah the $ will be devalued over time anyway, thats what was said in Davos 2018

[Alex]

US government shutdown ended after House narrowly passes bipartisan budget measure. 

[PansPurse]

Looking at the price chart for the last few years, I think silver and possibly gold are going to continue down this year (talking sterling only)

First up silver:

There was a bump 2016-17 but other than that it looks like a consistent down trend.

Gold:

Harder to tell. The $ chart looks more like an upturn but sterling gold price had a bigger jump in 2016-17. Reading the overall trend though it doesn't scream up but slightly down.

So, there's my prediction, a good time to stack build and hodl.

[HawkHybrid]

dec 2016 gold price(£) low is lower than dec 2017 gold price(£) low.

if this trend continues shouldn't that suggest that dec 2018, if it

creates a low then that low should be higher than the dec 2017 low?

( think the more reliable way to guess is to chart the gold price($)

and chart the $ to £ and use these data to make a guess)

 

HH

[GavinC]

On 2/2/2018 at 19:35, sixgun said:

Well not just bullion. People buy vaulted bullion where title of ownership is held on the blockchain. These units of title are the coins. You can then spend or trade these coins and so sell your gold (or silver).

The coin cost has to be fairly close to spot price or it does not become an investment vehicle that will take off. OneGram had similar frontend costs to the sort of figures i have just worked out for BullionCoin. These costs are way too high to gain traction which is probably why we haven't heard about OneGram other than in passing.

At this moment a 100g Swiss bar can be bought on the ABX Metal Desk platform through Hong Kong for a rate of $1331/oz. Compared Legacy $1538. Granted i cannot directly compare as i cannot see the price of 100g bar from these people but this is nowhere near.

i don't know yet how Kinesis will work out cost wise but with those sort of buying prices for bullion the chances are it will be a more viable solution.

There seems to be a fundamental misunderstanding. Its more about the yield for those promulgating the coins. not the price.

Price for Kinesis on the ABX, BullionCoin on the BCX & Shangai Gold on the SGE & the DGCX in Dubai will all be necessarily the same within approximation, but still marginally higher than the paper price. These will be markets with deep liquidity. This should not be confused with present day pricing on the Legacy Gold website which until BC launch remains a UK centric Gold Saving Plan in partnership with Betts. Using a referral scheme where small slivers of the premium over spot are distributed amongst referrers such that with a modicum of diligence the net cost of a referrers own purchases of Gold, in time, fall below spot. Legacy Gold is merely re-deploying its marketing budget to share amongst the participants in the Savings Plan.

Andrew, in his radio interview referred to yield @ 8% +. The Kinesis White Paper is not yet out but this number is not disimilar to BullionCoins 8 Basis Points Daily Share of transaction fee income with a 30% yield. (0.3 X 0.08% x 365 ) 8.76%. 8 Basis Points on the BCX Volume Incentive scale is for Institutional participants onboarding with a purchase value of BullionCoin in excess of $3m. There are lower volume breaks at $2m+, $1m+  & $250k+. Legacy Gold participants receive 5BP on their purchases with a minimum buy of either 1g AU or 50g AG.  (0.3 X 0.05% x 365 ) 5.475%.  Variation on yield is determined by the daily velocity and the daily price of Gold. I hope that might help clarify a couple of points.  

 

 

 

 

[sixgun]

1 hour ago, GavinC said:

There seems to be a fundamental misunderstanding. Its more about the yield for those promulgating the coins. not the price.
 

i am not sure i understand what you mean by price. i think you are saying something about the price of a coin in relation to the value of the metal it is title over.

The Kinesis coin is title of ownership - the title cost cannot be significantly out of line from the underlying asset it is title over (gold or silver).  You cannot pay $1000 for a coin and then only get $950 worth of gold if you redeem it.

Yes yield is important to the minters but the coin will stand or fall on the secondary market. No point minting coins unless there are buyers in the secondary market and these guys are not getting a yield they are getting the metal with blockchain title over it and easy of trading on the German stock exchange.

1 hour ago, GavinC said:

Price for Kinesis on the ABX, BullionCoin on the BCX & Shangai Gold on the SGE & the DGCX in Dubai will all be necessarily the same within approximation, but still marginally higher than the paper price.

i presume from this you are commenting on the price of a coin and the value of the underlying gold and that all the trading vehicles will be just about the same cost of vehicle to value of underlying gold. Yes they will be slightly higher than the underlying spot price metal. The paper market is about to die so the paper price is not relevant to Kinesis. The paper price can be anything it is a 1000 to 1 leveraged bonfire.

1 hour ago, GavinC said:

 These will be markets with deep liquidity.

Some will have deep liquidity. Don't think BullionCoin will have the legs or liquidity. We will see very soon.

[mongo28]

Gold on the move, currently $1334 USD.

[Alex]

13 hours ago, mongo28 said:

Gold on the move, currently $1334 USD.

Chinese holidays physical demand 

[mongo28]

Bouncing off $1350 today, will we break through? Currently $1349...