Gold nearing £900 - what are your predictions

[Spencer]

Golds gone up and up since january as you all know, its nearing 900 now but how long do people think it will take to breach the 900 mark? im guessing 2 weeks from today.

ideal for me becuase i invested in early january when price was 709 :-)

[ApisMellifera]

I would say this is heavily discussed in this thread ?

http://thesilverforum.com/topic/2355-gold-monitoring-thread-£-only/

 

[mr-dead]

The global financial bad news keeps coming so I see no reason for a significant drop in the short term.

[Spencer]

Had an email form bullion by post, apparently Boris Johnson is to blame haha

40 minutes ago, ApisMellifera said:

I would say this is heavily discussed in this thread ?

http://thesilverforum.com/topic/2355-gold-monitoring-thread-£-only/

 

cheers bumble bee guy

[oliversw5]

Im with Mr Dead on this, Ive recently sold out of my share positions and bought pretty heavily into PM's. Could I be wrong yes but I am trying to stock up on quality rather than quantity

[Spencer]

5 minutes ago, oliversw5 said:

Im with Mr Dead on this, Ive recently sold out of my share positions and bought pretty heavily into PM's. Could I be wrong yes but I am trying to stock up on quality rather than quantity

im not lucky enough to have any other form of investment - cant even buy a house now a days! so im just dumping everything into PMs and hopefully it will pay off one day even if it goes all the way down to a buck an oz ill still keep stocking up for when it rises again.

[oliversw5]

Well if we correlate PM with stock market trouble you are bound to be in the money at some point anyway, I think the usual cycle is around the 15 year mark. The main reason for my purchases is I believe that they didn't fix the problem from the last crash. You can see that the global economy, something I feel that is more prevalent now than when it was before the rise of the internet is on the brink of collapse. We have debt bubbles popping up all over the place and its scary. The yanks are on path to financial oblivion, the Chinese are struggling, Japan if it doesnt sort out its issues will be insolvent at some point, Europe is not out the doghouse yet. 

Just take a look at the supply of money, there is a currency war going on with all the big boys trying to outdo each other to stay competitive. I think you should ask yourself this, would you be buying PM if you had a currency that was stable with little government debt and a government with no inclination of issuing more? As Im not from a country that is doing that, I am investing in assets that have limited supply, I am looking to diversify into holding other currencies (such as the Swedish Crown) and also fine wine and art, to add to my PM stack. 

Don't take my word for gospel however...what do I know?

ATB

[Spencer]

13 minutes ago, oliversw5 said:

Well if we correlate PM with stock market trouble you are bound to be in the money at some point anyway, I think the usual cycle is around the 15 year mark. The main reason for my purchases is I believe that they didn't fix the problem from the last crash. You can see that the global economy, something I feel that is more prevalent now than when it was before the rise of the internet is on the brink of collapse. We have debt bubbles popping up all over the place and its scary. The yanks are on path to financial oblivion, the Chinese are struggling, Japan if it doesnt sort out its issues will be insolvent at some point, Europe is not out the doghouse yet.

Just take a look at the supply of money, there is a currency war going on with all the big boys trying to outdo each other to stay competitive. I think you should ask yourself this, would you be buying PM if you had a currency that was stable with little government debt and a government with no inclination of issuing more? As Im not from a country that is doing that, I am investing in assets that have limited supply, I am looking to diversify into holding other currencies (such as the Swedish Crown) and also fine wine and art, to add to my PM stack.

Don't take my word for gospel however...what do I know?

ATB

I would still buy gold and silver even if the economy was stable, i enjoy collecting the pieces and looking at the shiny. it would be good to diversify my investment portfolio but i only have enough spare cash to invest in PMs at the moment.

Do you think a "Brexit" would send gold up or down? or will it even have any effect at all?

[oliversw5]

I think it would put a lot of uncertainty into the market which should make it go up. 

It is a fun hobby isn't it  , I must admit even I who promised that the gold I would buy would be only 1oz bars close to spot bought a couple of collectible coins the other day! fell in love with the shield sov I bought (hated the price of it though!)

[Guest]

The price hike is almost all exchange driven. The Usd is at almost a high against the pound and so WILL in every likelihood reverse to 1.55 it's historical mid. When it does the spot price will need to move strongly upwards to maintain the high sterling gold price. At these levels i would stay clear of hard core bullion and look for value numismatic pieces.

[Spencer]

25 minutes ago, Numistacker said:

The price hike is almost all exchange driven. The Usd is at almost a high against the pound and so WILL in every likelihood reverse to 1.55 it's historical mid. When it does the spot price will need to move strongly upwards to maintain the high sterling gold price. At these levels i would stay clear of hard core bullion and look for value numismatic pieces.

Thanks or the sound advice Numistacker, dont understand most of it but i will be buying numismatics collectables

33 minutes ago, oliversw5 said:

I think it would put a lot of uncertainty into the market which should make it go up.

It is a fun hobby isn't it  , I must admit even I who promised that the gold I would buy would be only 1oz bars close to spot bought a couple of collectible coins the other day! fell in love with the shield sov I bought (hated the price of it though!)

Super Fun hobbie! ive always been a collector at heart so PMs fit the bill  im regretting not buying sovs back in january when they were about 160 - now there well over 200 quid

[Bumble]

Positives for gold:

Wars, disasters, bank runs, stock market crashes, negative real interest rates, currency devaluations, rapacious governments, strong demand from the far east, uncertainty and fear generally.

Negatives for gold:

Stability, booming stock and bond markets, high positive real interest rates, central bank sell-offs, economic growth and optimism generally.

I would say right now that the positives outweigh the negatives.

[Murph]

Don't luxuries like wine drop in price when there are recessions?

I do have a little port and some noble rot wines stored but only because I like the occasional tipple.

[oliversw5]

37 minutes ago, Murph said:

Don't luxuries like wine drop in price when there are recessions?

I do have a little port and some noble rot wines stored but only because I like the occasional tipple.

That may or may not be true, but my rationale is this. Wine is tax free as it is regarded as a wasted chateaux (if that is spelt correctly) it is also ever diminishing and lastly I am 25, I have time on my side to simply sit on it for multiple years.

[HighlandTiger]

5 hours ago, oliversw5 said:

Wine is tax free as it is regarded as a wasted chateaux (if that is spelt correctly) 

The word you are looking for is chattels.

http://www.hmrc.gov.uk/manuals/cgmanual/cg76901.htm

[Pipers]

Sterling is in a bear run against the USD, Gold has done well as a safe haven plus there was a big bear squeeze put on (read Gold money report early Jan) by the banks. The big question is where does Gold go from here.

IMO the banks after squeezing the hedge funds as much as possible will the banks then squeeze the new (equity lot) money in Gold so the price will drop back to the $1170 range, I may buy at that price.  Now as far as the £ goes it will stay weak until the EU election in June, the markets will position an exit and this will be 70% baked into the pie, if we stay in the EU the £ will rally back over $1.50  if we exit the £ will weaken even further.

Plus , I have been reading industry news and the mining companies are still reducing costs paying down debts, next week the miners annual conference is held, Kitco will be having interviews from there I will be watching the interviews to see if there is higher world demand as we are led to believe.

         

[Spencer]

8 hours ago, Murph said:

Don't luxuries like wine drop in price when there are recessions?

I do have a little port and some noble rot wines stored but only because I like the occasional tipple.

i saw a program the other day - a man was going to flog his wine investment, he had waited 25 years and the wine was at its best to drink - however when it reachs that age its no longer an investment, as its time to drink - so no one wants to buy it!!

22 minutes ago, Pipers said:

Sterling is in a bear run against the USD, Gold has done well as a safe haven plus there was a big bear squeeze put on (read Gold money report early Jan) by the banks. The big question is where does Gold go from here.

IMO the banks after squeezing the hedge funds as much as possible will the banks then squeeze the new (equity lot) money in Gold so the price will drop back to the $1170 range, I may buy at that price.  Now as far as the £ goes it will stay weak until the EU election in June, the markets will position an exit and this will be 70% baked into the pie, if we stay in the EU the £ will rally back over $1.50  if we exit the £ will weaken even further.

Plus , I have been reading industry news and the mining companies are still reducing costs paying down debts, next week the miners annual conference is held, Kitco will be having interviews from there I will be watching the interviews to see if there is higher world demand as we are led to believe.

        

awesome, keep us updated

[Murph]

Most people don't even keep their investment wine at home as it's better to keep it in a temperature controlled storage depot or in bond.  You're taking a risk buying from someone who has had it at home but as I say I really believe in drinking it so I want it at home in general.

If he can't manage to drink all his wine that he's had for 25 years I'm sure there wil be plenty of volunteer to help.

Roll on the referendum so we can get this vote over and done with then hopefully prices will stabilise and hopefully drop back a bit.

[HelpingHands]

@Spencer I think it was Posh Pawn and he had kept the wine under the sink.

[Spencer]

15 minutes ago, HelpingHands said:

@Spencer I think it was Posh Pawn and he had kept the wine under the sink.

yeah it was posh porn, i only caught the last 15 mins of it.

[sovereignsteve]

Yes I saw that. The guy was wanting too much, he should have sold it 5 years ago.

I've never understood the wine investment game. People pay way over the top for the top Chateau which is very good but not worth the high prices. The wine then increases in value due to scarcity and demand with people paying ridiculous money in the end before the value then plummets as the wine is ready for drinking! Madness!

It's a bit like a Ponzi scheme or a game of dare as everyone looks for "the greater fool" to take the wine off them at even greater prices.

[steve1905]

I prefer Gateaux to Chateaux.

[Murph]

Should have bought Chateau d'Yquem, it keeps for a lifetime.  

 

The only thing I don't like is LVMH own them now, along with many other vineyards and luxury brands.