Is There Something About to Crash with Gold ?

[Pete]

Just woke up to the drop in gold.
Anyone understand the reasons ?

What got me into a buying mode was HGM were listing many gold coins at 3% over spot.
That's not normal when prices are falling so is there an undercurrent and will I now regret buying tonight ?

[Kieran95]

I Haven't got a clue been watching all day don't know if I should pull the trigger myself it's a tempting price 

[MancunianStacker]

Back up to £920 tomorrow no doubt. It goes up with physical demand then gets smashed down the next day. When money can be shorted it’s open to all sorts of manipulation scenarios.

Wouldn’t surprise me if the yanks printed $21 Trillion to buy physical gold because they don’t have the tax income to do it legitimately. 

Could they do this without anyone finding out??? Buying it at a discount price they set themselves.

[Cornishfarmer]

Not a clue but my thinking is that they will announce a deal with the eu and the £ will gain 5% against the € and $ making gold cheaper for us

[Xander]

Why does this never happen when I'm buying.😣

[Uksilverstackers]

Hmm, not sure, but this chart of  Gold -,Jpy/Usd has been tracking pretty close and since August looks like its decoupling. But what do I know....

 

[sixgun]

Price dropped for no reason other than paper contracts got sold in the night (UK time) - the usual antics when seen in price manipulation. No news, just sold off..

Now people are thinking price is heading lower, when a week ago they thought it could be breaking to the upside.

The other issue is bonds have been selling off - holding bonds is not a good option if yields start rising - if you have $10 000 of US Treasuries and they went up from 3% to 3.5%, your Treasuries fall in value to $8570. Makes gold look like a viable option especially when prices are so beat up - so gold gets beaten up some more.

[Oldun]

Raid. Canada, US, Japan all on holiday Monday. China back from a week off. Commercials net long....someone did a smash and grab. And add the bond set up, gold was ripe for it.

[sovereignsteve]

5 minutes ago, Oldun said:

Raid. Canada, US, Japan all on holiday Monday. China back from a week off. Commercials net long....someone did a smash and grab. And add the bond set up, gold was ripe for it.

was just about to say this (well same gist )

[Lowlow]

32 minutes ago, sovereignsteve said:

was just about to say this (well same gist )

I agree, it's likely we go higher I think, even if the destination is lower they won't go straight there, and we've had a bottoming period, time to go a bit higher I think.  I would prefer lower, of course.

[Oldun]

If the stockmarket drops and people get margin calls, the first thing that will get dumped is gold. Flip a coin, could go eitherway but my opinion, and that is all it is, is that it may have further to fall.

[HawkHybrid]

1 hour ago, Oldun said:

If the stockmarket drops and people get margin calls, the first thing that will get dumped is gold. Flip a coin, could go eitherway but my opinion, and that is all it is, is that it may have further to fall.

 

how many that are still long the stock market have their insurance

in gold?

 

HH

[Oldun]

Pension funds have anywhere between less than 1% and upwards to 20% in extreme cases but don’t quote me exactly on that. Couldn’t tell you anything else as I’m not privy to that info. Then there are the speculators and commercials.....

[HawkHybrid]

I read somewhere that by volume pension funds have <1% in

gold?

 

HH

[Oldun]

Different funds have different appetite for risk so that figure maybe overall. And if they had ventured in in usd in the last 7 years, they would be even more heavily underwater.......so the guys running these things know what they doing in an incredibly difficult market with increasing payouts due as each day goes by. There is simply no comparison. Stockmarket has won hands down......so far.

[KitboyE17]

Price dipped under £900 this afternoon. Steady decline all summer. Could hold under £900 by the end of the month. My recommendation get ready to go buying. 

[QStack]

Can anyone recommend a good site that shows the live price of gold in sterling? I'm using live charts.co.uk but that shows it in USD.

[Nick1368]

2 minutes ago, QStack said:

Can anyone recommend a good site that shows the live price of gold in sterling? I'm using live charts.co.uk but that shows it in USD.

I use an app on my phone called 'Gold price'

Hatton Garden Metals, Sharp Pixley, ATS bullion, Royal mint Bullion and pretty much all the dealers have the live price on their website. 

[KitboyE17]

5 minutes ago, QStack said:

Can anyone recommend a good site that shows the live price of gold in sterling? I'm using live charts.co.uk but that shows it in USD.

 I use gold.co.uk they also have an iPhone app and it’s in real time. Pounds sterling dollars and euros

[Pete]

Time to buy more gold.

Surprised to see so many bargains on Atkinsons and HGM.

[QStack]

@Nick1368 @KitboyE17 Thanks for the info. Will check those out.

[Nick1368]

3 hours ago, Pete said:

Time to buy more gold.

Surprised to see so many bargains on Atkinsons and HGM.

agree, its a great time to add to your stack.

what would you buy ?

[Pete]

24 minutes ago, Nick1368 said:

agree, its a great time to add to your stack.

what would you buy ?

Bought some one ounce Brits from HGM as only 3% over spot and a few 2018 sovereigns from Atkinsons.
I am amazed that there has been so much gold on sale with prices so low suggesting more than normal people selling their gold.
Definitely a great opportunity to buy but what do these sellers know that maybe I am missing ?
Will gold drop farther and are people getting out ?
Everything is falling at the moment but volatility makes the financial sheisters loads of dosh - they love it as they win on the ups and also on the downs with their clever complex algorithms. Steady and stable is not what they want.
Unfortunately there are no guarantees but if gold remains around £900 per ounce or maybe lower and popular coins and bars can be bought for 3-4% over spot I will accumulate as long as the fiat is available and the bills are paid.
Never risk what you cannot afford to loose in part.
 

[dicker]

On 10/10/2018 at 23:24, Nick1368 said:

agree, its a great time to add to your stack.

what would you buy ?

 

Brits, QB’s

[Iamdeadboy]

Missed the chance to buy by a couple days... Shot up on Friday...bought monday...would have saved $50 oh well.