Gold Monitoring Thread £ GBP only

[Glorfindel]

27 minutes ago, JSILVER said:

Isn't this this point though? Safe haven assets, I can't say I was collecting back then, I was too young to know any better. Did gold and silver go up during the recession? 

Yes. 

[vand]

2 hours ago, JSILVER said:

Isn't this this point though? Safe haven assets, I can't say I was collecting back then, I was too young to know any better. Did gold and silver go up during the recession? 

Yes, but that doesn't mean there isn't a huge paper market also which, for the most part, is what determines the price. We live in hope that one day the physical markt will reassert itself, but when that day comes it will be impossible to buy any more physical anyway.

[vand]

Stealth Rally!

Gold now punching through $1280, yet nobody is talking about it. That's £1023 in our money.

[vand]

3 hours ago, Glorfindel said:

Yes. 

 

Those charts are misleading because they are not log scale.

If you study them you will see that PMs spent most of 2008 in a deep corrective phase as they were sold off (along with everything else). Silver went from >$20 to <$9 before the climb to $50.

Edited April 12, 2017 by vand

[SpacedMarine]

3 hours ago, JSILVER said:

Isn't this this point though? Safe haven assets, I can't say I was collecting back then, I was too young to know any better. Did gold and silver go up during the recession? 

No but stock market PE ratio went to 120 in 2009 at height of crisis!So people saying the stock market will crash are full of crap in my opinion.If the value of fiat goes down how could assets such as gold,blue chip stocks not go up?Sovereign debt is the problem.Hedge funds won't buy lots of gold as imagine trillions of dollars going into gold!The market couldnt absorb it whereas the stock market can.Everyday people with savings can buy gold and silver if you have a pension in gilts or sovereign debt good luck.The only way stock markets crash is if we go full mad max its the money thats the problem not assets.Gold went up because they were printing money and everyone expected massive inflation which didnt happen because the money they printed went into the banks and they parked it as extra reserves at the central bank so the money never entered the real economy.Now theyve supposedly stopped doing as much qe the money is slowly seeping into gold and the stock markets.Thats tge way i see it anyway.

Edited April 12, 2017 by SpacedMarine

[vand]

$1290 is the key level that needs to be taken out for confirmation of the end of the long term bear market.

 

 

[SpacedMarine]

12 hours ago, vand said:

$1290 is the key level that needs to be taken out for confirmation of the end of the long term bear market.

 

 

Think we may be disappointed for now which is good as I want to buy some more!

[Bumble]

The $20/ozT rise in gold price over the last week has set up a nice battle between the bulls and bears. The physical price in Shanghai briefly touched $1300 on Friday. If the price holds at this level or rises for another week, the momentum traders will come in and drive it up further. If geopolitical events calm down, it may well return to $1260 or lower. I would far rather be on the long side. In two recent interviews with King World News, Andrew McGuire has said that shortage of supply of physical gold has reached the point where there is serious competition for buyers and availability of the physical has started to determine the price. If he's right, we should see higher prices later this year.

[SpacedMarine]

2 hours ago, Bumble said:

The $20/ozT rise in gold price over the last week has set up a nice battle between the bulls and bears. The physical price in Shanghai briefly touched $1300 on Friday. If the price holds at this level or rises for another week, the momentum traders will come in and drive it up further. If geopolitical events calm down, it may well return to $1260 or lower. I would far rather be on the long side. In two recent interviews with King World News, Andrew McGuire has said that shortage of supply of physical gold has reached the point where there is serious competition for buyers and availability of the physical has started to determine the price. If he's right, we should see higher prices later this year.

They've been saying that for years.Not saying that it won't move higher still as the big shorts must be crapping their pants at the minute and one thing a short is,a GUARANTEED BUYER when they have to cover!

[Pipers]

When did HGM go to live pricing from fix pricing?

[sovereignsteve]

30 minutes ago, Pipers said:

When did HGM go to live pricing from fix pricing?

What makes you think they have? Their prices haven't changed in the last 15 mins I've been looking and they are off the spot prices at the moment.

[Oldun]

http://www.funds-money.com/gold-prices-uk/

[Paul]

What is the consensus folks ?  are we due to be going any lower this week ?

Got an itchy trigger finger here 

[SilvergunSuperman]

17 minutes ago, Paul said:

What is the consensus folks ?  are we due to be going any lower this week ?

Got an itchy trigger finger here 

I scratched my itch the other day for 10g... could've saved £2 if I'd waited.

Strange times at the moment. With everything going on in the world you wonder what it would take for gold to shift up a gear.

[JSILVER]

spot at 950 oz now, I must admit I am just stopping myself from pulling the trigger on an order.
 

[forgottenmemorie]

6 minutes ago, JSILVER said:

spot at 950 oz now, I must admit I am just stopping myself from pulling the trigger on an order.
 

Better price on Friday..?

Edited May 4, 2017 by forgottenmemorie

[JSILVER]

Just now, forgottenmemorie said:

Better price increase Friday..

Do you think itll increase tomorrow? I dont really know why Im holding out but I am saving money really so I am enjoying it falling.

 

[forgottenmemorie]

Just now, JSILVER said:

Do you think itll increase tomorrow? I dont really know why Im holding out but I am saving money really so I am enjoying it falling.

 

*Typo 

It should get lower tomorrow..

The question is what coins to buy

 

[JSILVER]

Need the most recent 2 queens beasts 1/4oz. Like the look of the 30th year brit too, Been waiting for the price to fall for ages. Would love to see the days of £700 gold again! 

[sixgun]

1 hour ago, JSILVER said:

Do you think itll increase tomorrow? I dont really know why Im holding out but I am saving money really so I am enjoying it falling.

 

The banks were very short. They have off loaded the shorts on hot money now. We can expect an upwards flush of price dislodging the shorts now. We have seen these wash and rinse cycles many times, where price is taken up and down wrong footing the speculative money to the profit of the banks which work together. The problem is the physical market has been draining the available physical and it has been going East.

Price entered the central bank buy zone for gold over Wednesday and Thursday. There has been significant [many tonnes] of buying. Much of this is on the spot market - XAU/USD etc. There are 600 tonnes a day cleared through London but only a fraction results in physical deliveries and these physical transaction fly under the radar until delivery is demanded, which will be happening over the next few days. These prices are expensive when it comes to Asia buying up gold on the cheap.

These wash and rinse cycles are more difficult to pull off b/c there isn't the volume of physical necessary available at the alleged prices on the charts.

People can buy coins at the click of a mouse, so keep a close eye. It is Non Farm Payroll on Friday. It would not surprise me if the data was not that good. We have had indications from the Fed saying the slump in the economy is a temporary phenomenon [not] and the ADP job figures weren't good. There has been other negative data floating through. They are rigging the jobs numbers so any number could appear but if the number is a truer number i don't expect anything sparkling which is positive for the price of gold.

Edited May 4, 2017 by sixgun

[Bumble]

Anyone else think it is odd that gold is going down while bitcoin has risen to an all-time high? Is this just a long-term trend in bitcoin price resulting from the fact that it is still a new currency and its ownership is widening? Or is it that there are no leveraged instruments for shorting bitcoin?

[forgottenmemorie]

3 hours ago, Bumble said:

Anyone else think it is odd that gold is going down while bitcoin has risen to an all-time high? Is this just a long-term trend in bitcoin price resulting from the fact that it is still a new currency and its ownership is widening? Or is it that there are no leveraged instruments for shorting bitcoin?

Bitcoin is a wild horse that has bolted for the hills, it can not be stopped..

[KDave]

Bitcoin and its copies are in the manic stage at the moment, fortunes are being made and lost and when all is said and done, there will be another crypto currency to buy. Bitcoins market share of the crypto market has collapsed in the last couple months, due to the parabolic price rises of its competitor currencies. It seems that while you can't print bitcoin, you can achieve the same effect by marketing a new crypto currency. But who care so long as the price keeps going up. Demand for bitcoins and its copies appears insatiable. If the next pullback is hard enough I think I will join the fun for the next wave, so long as sentiment has not been too badly damaged. 

Meanwhile commodities have been falling mostly across the board. No one wants real stuff and recession is on its way, we are overdue one.   

[Scuzzle]

6 hours ago, Bumble said:

Anyone else think it is odd that gold is going down while bitcoin has risen to an all-time high? Is this just a long-term trend in bitcoin price resulting from the fact that it is still a new currency and its ownership is widening? Or is it that there are no leveraged instruments for shorting bitcoin?

Just tells me they would rather you owned Bitcoin than gold.  Bitcoin not being manipulated helps and demonstrates what commodities should be doing but I do believe Bitocin and Etherium etc.(which is also going up at a rapid rate) are only being allowed to do so to get cryptos into the public awareness as thats ulimately where the next financial paradigm is headed.  When the time is right they will bring out their own and regulate the others to death.

[morezone]

Gold unrelated crypto talk moved to crypto thread.