Gold Price jump

[mr-dead]

Gold just jumped +$20 wonder if it's anything to do with Russia announcing they are ready to pull the plug on the swift payment system?

[Roy]

It's days like this when you can have number fun with such a large stack.

If gold jumps $20+ an ounce and you hold 400ozs that's an $8000 shift!

You must have balls of steel mr-d 

 

 

[Bullionbilly]

1 minute ago, Roy said:

 

You must have balls of steel mr-d 

 

 

I hear one is gold and the other is silver 

[Shinus73]

US inflation figures

[HawkHybrid]

currently I think a lot of the move is the dollar being weaker.

 

HH

[Pete]

21 minutes ago, Roy said:

It's days like this when you can have number fun with such a large stack.

If gold jumps $20+ an ounce and you hold 400ozs that's an $8000 shift!

You must have balls of steel mr-d 

 

 

Many of us invested in stocks, funds etc in ISAs or pensions might have lost about 8% last week when the markets collapsed.
That's a ball breaker and can bring tears to the eyes.

[sixgun]

i got the Kinesis whitepaper this morning - their website goes live later today. The central planners came in with a smack down on price but hit a wall of physical buyers and price bounced up hard and then didn't stop. The clock has started ticking now.

[HawkHybrid]

17 minutes ago, sixgun said:

The central planners came in with a smack down on price but hit a wall of physical buyers and price bounced up hard and then didn't stop.

 

I think it's more likely that papers traders believing a rise

in interest rates is bad for gold got caught out going in the

wrong direction. physical buyers take time to process and

is unlikely to cause sharp spikes/dips in the spot price.

 

HH

[sixgun]

9 minutes ago, HawkHybrid said:

 

I think it's more likely that papers traders believing a rise

in interest rates is bad for gold got caught out going in the

wrong direction. physical buyers take time to process and

is unlikely to cause sharp spikes/dips in the spot price.

 

HH

No it was very large spot buyers sat at 1320 that stop price and turned it around. The fall in price was the usual fall seen with intervention in the market to trigger stops and then a scramble to cover as physical buys were triggered at 1320. The physical market is much tighter than you will ever heard disclosed by the controlled media.

All the flannel about interest rates blah blah - this is to brainwash people into thinking any of this rubbish matters. Four interest rate rises are in the gold price already. To hell with interest rate rises. The game is about up for these paper tigers.

[HawkHybrid]

interest rates do matter to the gold price in dollars.

the gold price in dollars is a made up of 2 things.

1. the price of gold.

2. the price of dollars.

interest rates represents the opportunity cost of dollars

which affects it's price. currently the price gold($) is ~-1%.

price of gold (£) is about -0.5%. assuming the £ is currently

relatively stable means 50% of the current move is the gold

price going up and 50% is a reflection of a weakening dollar.

 

HH

[Scuzzle]

How weak is the Dollar?, gold goes up $24 but only up £9.50 in GBP.

[sixgun]

2 hours ago, HawkHybrid said:

interest rates do matter to the gold price in dollars.

the gold price in dollars is a made up of 2 things.

1. the price of gold.

2. the price of dollars.

interest rates represents the opportunity cost of dollars

which affects it's price. currently the price gold($) is ~-1%.

price of gold (£) is about -0.5%. assuming the £ is currently

relatively stable means 50% of the current move is the gold

price going up and 50% is a reflection of a weakening dollar.

 

HH

There has been a tidal wave of Exchange for Physical contracts being shunted over to London from the COMEX. i am reliably told this has leveraged up the actual physical in the London market to about 1000 to 1. This will blow up. We have all but reached a point where the white flag goes up and there is a reset in price. A few 1/4% shifts in interest rates that are already priced in are neither here nor there. When large physical buyers appear this is stressing the market and these deliveries must be covered. The physical buyers are indifferent to interest rates, they want physical and they can smell the blood in the water. The physical market is increasingly driving price and over the summer it will be the only thing driving price.

[999magnum]

I better get my first 1/10 piece soon