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Paul

Gold Monitoring Thread £ only

736 posts in this topic

Well Silver has its own thread for daily ongoing discussion, so we may as well have one for Gold to !

 

5th November 2014 Gold bottomed at its low for 2014 @ £718oz

 

Now today just two and bit months on @ £832 

 

I not to shabby turnaround in such a short space of time, nearly 14% appreciation!

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Yes it is good and bad news, the GOOD I am up 2k on my gold, the BAD I want more at a cheaper price.

 

I guess I will just have to play the waiting game.

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I bought a little before the low point and a little after, overall up slightly as of today. I still think it's cheap so will buy some more this month and next.

 

Some of the markets are a little haywire today after the Swiss announcement so that's probably why it has spiked.

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I think I will get my wife to call my local supplier and see what he has in or should I wait for gold to drop a bit first!!!!

 

Decisions, decisions. ;)

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It's an impossible decision. I've spent alot more than I intended to at the start but I'm confident it will be a good investment. I keep telling myself I'll buy next month's lot this month then skip a month but I never do  :lol:

Keithoil likes this

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Just read this.

 

Mmmmmmmmmmmmmmmm, so we are back to the Greeks again, it looks like a matter of sooner rather than later.

 

So the question is "when will it implode".

 

Edit: But more to the point will we see a run on our PM's, I still need to buy more precious.

Edited by Keithoil

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Looks like the swiss de pegging has been a black cygnet exposing structural weakness in the eurozone. Reckon more will be due and then the mother black swan.

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Yeah im hearing creaking sounds in the dam wall

 

When they no doubt announce the next round of QE next week, it may shoot up further or drop back like a stone

 

Certainly these graphs of the past week have been interesting seeing how gold reacts to big news.

2 to 5% moves per day

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Well for the first time ever, every one of my gold coins, (apart from my proofs) are in the black and showing a profit. I didn't think I'd see that happen so quickly. 

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Well for the first time ever, every one of my gold coins, (apart from my proofs) are in the black and showing a profit. I didn't think I'd see that happen so quickly. 

 

 

Gold still has to go up a further just another £205 an oz for me to break even on my dearest gold coin

di854ddie.jpeg

........and its a crappy stock krugerrand, nowt flash or proofy :(

Edited by Paul

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I'm not buying at these prices.

 

You do realise we are still 25% UNDER the high of 2011. All highs eventually get surpassed, so there is plenty of money to be made at these prices. And for the whole period between Sept 2010 and Sept 2013, Gold was at a higher price than today. It that scenario plays out again you won't be buying any gold for years to come .

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Gold still has to go up a further just another £205 an oz for me to break even on my dearest gold coin

di854ddie.jpeg

........and its a crappy stock krugerrand, nowt flash or proofy :(

 

LOL I need it to go up about another £100 for my proofs to break even

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I bought my two 1 oz Britannia's for £825

 

Atkinsons buy back price atm is £829

 

Ebay Id pay fees

 

On here I doubt anyone would give me £825, so I'm about even on them really. 

 

I want to buy more gold so this price increase is no good  <_<

Edited by Kman

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You do realise we are still 25% UNDER the high of 2011. All highs eventually get surpassed, so there is plenty of money to be made at these prices. And for the whole period between Sept 2010 and Sept 2013, Gold was at a higher price than today. It that scenario plays out again you won't be buying any gold for years to come .

I know what you mean it's just my very first gold purchase in September of 2013 at £862 has always weighed my stack down ever since. The rest of my 8 1/2 oz was brought between £756 and £811 so it's not so bad. I'm thinking and hoping gold will fall back into the £700s again. It was only a few days when even the ultra bulls were saying golds going down to $1000.

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UBS has downgraded its average gold price forecast for gold largely because of greater downside risks stemming from lower oil prices and the implied absence of an inflation threat, it said.

The broker lowered its 2015 gold price forecast to $1,190 from $1,200 – the spot metal price was last at a little-changed $1,228/1,228.70 per ounce.

“While the expected price direction remains the same, the magnitude of our previous price expectations was too aggressive and needed to be revised lower,” it said in a release on Thursday.

“Fed [monetary policy] normalisation and dollar strength are considerable hurdles for gold, but reduced market length and the fact that much of the adjustment had already been made in the last couple of years should help limit the force behind a move lower,” it added.

Uncertainty about the eurozone economy, which is stagnating and risks falling into recession again, is burnishing gold’s safe-haven qualities. But the resultant weaker euro and stronger dollar are muddying the waters; the same reaction is likely should the ECB launch large-scale sovereign QE.

The dollar is firm against the euro, holding around nine-year highs at 1.1761.

Another risk is that a wider gap between market expectations on US rates and the Federal Reserve’s own forecasts increases the potential for a bigger adjustment should the Fed turn more aggressive, bringing market consensus more in line with its thinking, UBS aid.

For silver, it lowered its forecasts across the board to reflect weaker-than-expected sentiment, highlighted by the gold:silver ratio staying above 70.

Restoring investor interest is likely to play out over a longer timetable, the bank said, maintaining the view that silver should outperform gold but that this must take time to unfold.

“Despite silver’s year-to-date positive performance and gains in positioning, it’s still premature to call for a significant return of investor interest – more evidence is needed and industrial demand needs to step up,” UBS said.

It lowered its average silver price forecast for this year to $18.20 from $18.40 and sees it averaging $20.00 in 2016, down from $21.0 previously. For 2015, UBS sees silver averaging $21.00, down from its earlier forecast of $22.00.

The lacklustre fourth-quarter performance of platinum suggests continued weak investor sentiment, the bank said, pushing back its expected recovery.

It lowered its 2015 average price forecast to $1,400 from $1,500, its 2016 prediction to $1,500 from $1650, its 2017 expectation to $1,650 from $1,800 and its 2018 forecast to $1,800 from $2,100.

This downgrade also coincides with smaller deficits than previously forecast, which have been driven by higher than expected mine supply and downgrades to expected autocatalyst demand, UBS said.

While it expects deficits in future, market positioning presents a challenge amid concerns that the trade may become too crowded, it said.

For palladium, UBS lowered its 2015 average forecast to $900 from $925 but kept its forecasts further unchanged, which it said is in line with robust fundamentals and favourable underlying investor sentiment.

(Editing by Mark Shaw)

- See more at: http://www.bulliondesk.com/gold-news/focus-ubs-lower-2015-gold-price-forecast-others-also-revised-downward-88279/#sthash.Ce6eGbNr.dpuf

Stretch likes this

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Paul - thx for starting the thread, as this is going to be the hottest topic!

I only started in summer 2014, so i am totally bamboozled now - like Stretch I cannot bring myself to buy, as the only prices i have known are below this ... But my brain and HT are obviously logical in saying that we are still historically low.

All i do know is I am happy I bought as much as I could in the last 3 months. Getting nostalgic looking at the receipt for my 1 ounce UK lunar horse from November for less than £760 new!! Lesson learned ? Buy more PMs. Hindsight is awesome....

Its ebay for the odd quirky bargain, or trading with fellow forum members/collectors.

Stretch likes this

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