Gold Monitoring Thread £ GBP only

[morezone]

28 minutes ago, vand said:

Never got there... and that is why you need a long term strategy for buying rather than just setting random price point targets on a whim.

I'm a collector so it doesn't really bother me.  I can't predict prices so I buy whenever I feel like and have the funds available.  If all goes well I would never have to sell and it will be up to my children to dispose of my collection.  If there was a winning strategy I and many others wouldn't be here but rather sunning it up on our own private island.

[HawkHybrid]

http://www.silver-phoenix500.com/50-trillion-cash-sidelines-could-be-good-news-stocks-and-gold-price

 

more info for those thinking about post election moves.

 

http://www.gold-eagle.com/article/how-gold-traders-are-positioning-themselves-what-could-be-most-volatile-week-year

 

HH

Edited November 7, 2016 by HawkHybrid

[Pipers]

11/10 against Trump winning the presidency in my book, if he did win then Gold would climb to  over $1400, but here in the UK the £ would strengthen so we would not see as much of the increase though it would still be a big move.  

The price of Gold is not high its the price of the £ is very weak! all thanks to the BOE and Mr Carney who has been giving lots of free money to his friends in the City which means the £ is worth less now.    

[sovereigns]

you could not make this up..... the media and wall street played a blinder through the night and look....not even 8 hours later the markets are not bad at all, some are actually positive and gold rallied well...until it did not!

[Kman]

8 minutes ago, sovereigns said:

you could not make this up..... the media and wall street played a blinder through the night and look....not even 8 hours later the markets are not bad at all, some are actually positive and gold rallied well...until it did not!

What caused that £20 drop

[HelpingHands]

People were moving their dollars into pms and other currencies and then moved them back out when the picture wasn't so bleak...... I think.

[sovereigns]

Just like brexit, trumps picture is not so rosy, its simply that nothing has yet been done.  If and when we actually serve Article 50 then the £ will drop again, and will significantly drop further until actual leave. £ $ parity is certainly not absurd at present.

Donald Trump has won yes, but he first has to take office in January, then and only then will we will see whether he has the backing of the Republicans or whether his policies will be guided by those same Republicans.

Gold price - who knows, it could go either way by $100 or more, either way we know the media control what the public really hear, and wall street controls the money.

[HelpingHands]

No matter what happens, and which ever way markets go, bullionbypost send out an email with the header 'buying opportunity?'

[sovereignsteve]

The Dow is scarily quiet since the open.

[HawkHybrid]

my guess is people who are buying gold as insurance are buying

physical. over leverage means that high volatility is a real problem,

stop losses must be contained. traders trade on the moves but

know there is a limit to one day moves. 

 

HH

Edited November 9, 2016 by HawkHybrid

[sovereigns]

once again gold going through the floor, will be sub 1000 by the weekend. 

[Clens92]

17 minutes ago, sovereigns said:

once again gold going through the floor, will be sub 1000 by the weekend. 

What makes you say sub-£1k by the weekend?

The markets have realised that a Trump presidency isn't the apocalypse that the media predicted - the price is still settling.

[sovereigns]

well earlier today it was 1027, then up to 1035 then 1037 and then dropped to 1014, currently 1017.

 

It average over last 2 days is to drop £15 a day, hence if it settles below 1015 then tomorrow it could and would get sub 1000.

 

Wall street is convinced that trump is a puppet for the republican party and as such, they are seeing highs across the board, the dollar is gaining, and gold is falling.   Until that perception is changed (which ofcourse if should be) then gold will continue to fall

[sovereigns]

atkinsons right now gold at £1009.....

[Ravinella]

Got to take a two three year look at this at least in my view.........If your a flipper your in for alot of work even since yesterday and today and lot of money to be made or lost...................Good Luck.............Longer term totally different situation...........collector total different situation.

I can see £950/£930 coming up fairly quickly and I'd consider that as a buying opportunity but still with a long terrm view.

Others have said above Brexit/Trump isnt going to have a steadying effect on spot till at least end of 2018 probably longer ,I agree......................Too many people read that MIke Maloney and Rickhards bollox of gold hitting $10 and $15000 by middle of next year,with total destruction of monetray system as we know it............load of B/S and if it did happen be a lot of use to you anyway in Starbucks with a standard Mocha being about £15.

Have to keep reminding yourself" why you are in this game................."flipper,one set of rules,long term invester,another set,numismatic collector another set" but as the saying goes "you can keep some of the people happy some of the time,most of them happy most of the time but NEVER all of them happy all of the time".............sorry but will repeat myself..........................".why you are in this game................."flipper,one set of rules,long term invester,another set,numismatic collector another set" .

Make your mind up time Ladies and Gents..................

[Danny-boy]

Sub £1000 now.

[FriedrichVonHayek]

Trumps victory could be bearish for Gold as I believe that stocks will do well under him as he is going to cut taxes.

I would have been very bullish on Gold if Clinton had won as she is a Socialist warmonger.

[Pipers]

2 hours ago, FriedrichVonHayek said:

Trumps victory could be bearish for Gold as I believe that stocks will do well under him as he is going to cut taxes.

I would have been very bullish on Gold if Clinton had won as she is a Socialist warmonger.

Disagree here FVH, Trade wars means inflation, with all the western countries in large Debt both public and private sanctuary will be sort in Gold and other tangible assets rather than paper. Trump also has around a 25% of his vote and 33% of Hilarys Vote who are Angry at being left behind and he has promised them a job and better pay!!!   This is a very big promise to live up to, I hope he does it just not at the UK's expense.  As far as calling Clinton a Socialist you made me laugh her politics are closer to Mussolini (apart from the racism) than she is to the late Tony Benn.  Clinton is a Neo-Liberal  who wants to cosy up to big business wall street basically the 'fire' economy and that is why she lost enough normal ordinary people, people no longer believe the lies told by the old right and left parties they feel betrayed and its the left that is losing, though there is a warning from history the further the pendulum swings one way it will swing the other way just as hard.  

Also has anyone else noticed the mainstream media propaganda is not as effective anymore.  

[breaktwister]

Too many people now waking up to the mainstream biased media, I read it for a laugh then go onto youtube for the truth

[FriedrichVonHayek]

6 hours ago, Pipers said:

Disagree here FVH, Trade wars means inflation, with all the western countries in large Debt both public and private sanctuary will be sort in Gold and other tangible assets rather than paper. Trump also has around a 25% of his vote and 33% of Hilarys Vote who are Angry at being left behind and he has promised them a job and better pay!!!   This is a very big promise to live up to, I hope he does it just not at the UK's expense.  As far as calling Clinton a Socialist you made me laugh her politics are closer to Mussolini (apart from the racism) than she is to the late Tony Benn.  Clinton is a Neo-Liberal  who wants to cosy up to big business wall street basically the 'fire' economy and that is why she lost enough normal ordinary people, people no longer believe the lies told by the old right and left parties they feel betrayed and its the left that is losing, though there is a warning from history the further the pendulum swings one way it will swing the other way just as hard.  

Also has anyone else noticed the mainstream media propaganda is not as effective anymore.  

You are right she is a Neo-Liberal rather than a Socialist but I do believe that Gold will perform poorly in Trumps honeymoon period.

If I am correct there could be some good buying opportunities on the horizon, long term nothing has changed and Gold will prevail.

The mainstream media is on the ropes but it still exerts far too much influence on the populace.

It looks as if people hold two points of view,one for public consumption that makes life easy for themselves with regard to the thought Police and also their real opinion that emerges when they go to the ballot box,no wonder opinion polls get it so wrong as people are scared to say what they really think for fear of a backlash from the SJW's. 

[vand]

Trying to make sense of short term action is pointless. The markey will go where it will no matter what, and it seems like gold was always destined to test the long term down trendline and fail again, resulting in another brutal selloff and  continuation of the consolidation that we have seen since July. I firmly believe this would have been the case no matter what the events of this week, and all that happened was that it was compressed by increased volatility.

Trump isnt a game changer for anything. The paper money machine will work itself to its assured destruction no matter eho is piloting it.

[FriedrichVonHayek]

26 minutes ago, vand said:

Trying to make sense of short term action is pointless. The markey will go where it will no matter what, and it seems like gold was always destined to test the long term down trendline and fail again, resulting in another brutal selloff and  continuation of the consolidation that we have seen since July. I firmly believe this would have been the case no matter what the events of this week, and all that happened was that it was compressed by increased volatility.

Trump isnt a game changer for anything. The paper money machine will work itself to its assured destruction no matter eho is piloting it.

I wouldn't underestimate the impact that Trump could have on the world in the next year or so.

The world is changing rapidly with the advent of Brexit and President Trump and more elections in Europe next year where Nationalist parties are certain to do well.

[Pipers]

1 hour ago, FriedrichVonHayek said:

I wouldn't underestimate the impact that Trump could have on the world in the next year or so.

The world is changing rapidly with the advent of Brexit and President Trump and more elections in Europe next year where Nationalist parties are certain to do well.

The Trump victory actually gives the UK a stronger hand negotiating Brexit it has put the Federalists in the EU on the back foot.     

[Pipers]

Gold sell off here? 

 

[morezone]

Down to £980 or so now.  Really is dropping and has been helped by the exchange rate too.  $ is up to 1.26 from 1.22 a couple of weeks ago and spot is around $1240.