Gold high spot price

[Abyss]

Not to to far off all time high in Gold when priced in GBP £1200.

[Elements]

3 minutes ago, Abyss said:

Not to to far off all time high in Gold when priced in GBP £1200.

 

Got there already in AUD, soon be our turn

https://www.zerohedge.com/news/2019-06-19/gold-surges-all-time-record-highs-1974oz-australian-dollars

 

[DarkChameleon]

7 minutes ago, Abyss said:

Not to to far off all time high in Gold when priced in GBP £1200.

it's high was almost $1800.

[Abyss]

Just now, DarkChameleon said:

it's high was almost $1800.

When buying Gold in GBP cannot ignore the GBP/USD price. When Gold USD $1800 GBP/USD 1.68. If the GBP/USD was 1.68 today then Gold priced in GBP would be £1455 and in £ Gold would be at an all time high.

[AuricGoldfinger]

These are pretty dizzying heights. Is the only way up?

[Goldmick]

Update high today

[Kookaburracollector]

I knew this would happen when I sold some bullion at 1055 last week😂.

Will be interesting to see what happens to the mining shares today in which I am heavily invested..if they rocket then the market believes this rally will last..an interesting day beckons for us all!

[Tn21]

Not seen a big jump in price so early in the price of au in a while. Would be good to see silver go up proportionately aswell.

[HighlandTiger]

1 hour ago, Abyss said:

When buying Gold in GBP cannot ignore the GBP/USD price. When Gold USD $1800 GBP/USD 1.68. If the GBP/USD was 1.68 today then Gold priced in GBP would be £1455 and in £ Gold would be at an all time high.

 

Ok, my maths might be a little off, but if Gold at $1800 when a pound was $1.68, then it would be £1071. If the £ was $1.68 today on the current gold price of $1384, then that's only £823

I'm confused to the £1455 figure

[Kookaburracollector]

23 minutes ago, Tn21 said:

Not seen a big jump in price so early in the price of au in a while. Would be good to see silver go up proportionately aswell.

Just thinking the same, at this time silver is only up 1.4% vs 3.1% for gold...I’m led to believe that gold usually leads then silver follows...

This is a double edged sword for most people..a much higher price for our coins is nice to know but makes buying a leap of faith experience for a while!

[Abyss]

3 minutes ago, HighlandTiger said:

Ok, my maths might be a little off, but if Gold at $1800 when a pound was $1.68, then it would be £1071. If the £ was $1.68 today on the current gold price of $1384, then that's only £823

I'm confused to the £1455 figure

I quickly done some rough figures and may have gotten my calculations wrong lets try and work it out correctly.

Current USD $1385

Current GBP/USD 1.27

Current GBP/Gold £1087

Suppose current GBP/USD 1.68 every £ converted into $ would give you an extra $.41 would make gold cheaper in £ so $1385/1.68 = £824. @HighlandTiger you are right stronger £ vs $ would make gold cheaper in £.

[silenceissilver]

5 hours ago, Kookaburracollector said:

Just thinking the same, at this time silver is only up 1.4% vs 3.1% for gold...I’m led to believe that gold usually leads then silver follows...

This is a double edged sword for most people..a much higher price for our coins is nice to know but makes buying a leap of faith experience for a while!

Indeed, if it goes on like that rather than bouncing back I will have to change my plan I had for buying gold the next years - buying a set amount of bullion Sovereigns (with the odd numismatic Sovereign) on a regular basis. Now I might have to set a certain fiat amount on a regular basis and see how many Sovereigns I can buy with it and use the rest the next time I buy Sovereigns. I see my future Sovereign stack dwindling 🙁

[HighlandTiger]

12 minutes ago, silenceissilver said:

Indeed, if it goes on like that rather than bouncing back I will have to change my plan I had for buying gold the next years - buying a set amount of bullion Sovereigns (with the odd numismatic Sovereign) on a regular basis. Now I might have to set a certain fiat amount on a regular basis and see how many Sovereigns I can buy with it and use the rest the next time I buy Sovereigns. I see my future Sovereign stack dwindling 🙁

I wouldn't worry too much. When brexit is shown to be a success, you will see the pound rocket against the dollar, and gold prices will fall in sterling. I think you will see a sterling gold price well under £1000 next summer. 

[silenceissilver]

5 minutes ago, HighlandTiger said:

I wouldn't worry too much. When brexit is shown to be a success, you will see the pound rocket against the dollar, and gold prices will fall in sterling. I think you will see a sterling gold price well under £1000 next summer. 

That would be great. Given however our monetary system is basically a ponzi scheme, I doubt it. I think once it starts crumbling in one of the following 3 areas - the US, the EU, the UK (with any shape of or without Brexit)- it will spread out to the rest of these areas. There is a financial analyst, Markus Krall, who was part of creating the stress tests for German banks after the 2008 crisis, who thinks the German banks have till the end of 2020, give or take of course, before the German banking system will collapse. Brexit will mitigate the effect from Germany for the UK somewhat but I don't think to a high extent, particularly given the the ponzi scheme is the same in the UK.

• Quote

ver

[Guest]

I've just sold some more gold at lunchtime today, spot was at £1090. Watch the price go stratospheric now...😆

[silenceissilver]

11 minutes ago, RichRock said:

I've just sold some more gold at lunchtime today, spot was at £1090. Watch the price go stratospheric now...😆

At least I know whom to blame!

[Guest]

 

2 minutes ago, silenceissilver said:

At least I know whom to blame!

Yep, me selling some here at £1090 should be good for a rise to £1150, just doing my bit for the forum members 😆

 

[DarkChameleon]

7 hours ago, Kookaburracollector said:

I knew this would happen when I sold some bullion at 1055 last week😂.

Will be interesting to see what happens to the mining shares today in which I am heavily invested..if they rocket then the market believes this rally will last..an interesting day beckons for us all!

Some gold shares had a run last week...so all those worry warts who were checking out at $14.50 and $1250 are now worrying they got it wrong...I might even have to consider checking out of my gold scrap soon, not my sovs (I'm not an animal)...but it's all down to whether I think the dollar will gain strength and alas from that QE there's too much of it floating around for that to happen...only time I wanted a weak dollar was when I moved my pounds over (what a lovely day that was $2/£1).....I was dancing all the way to the bank.

[Roy]

2 minutes ago, DarkChameleon said:

what a lovely day that was $2/£1

2008?

Remember it well.

[DarkChameleon]

54 minutes ago, HighlandTiger said:

I wouldn't worry too much. When brexit is shown to be a success, you will see the pound rocket against the dollar, and gold prices will fall in sterling. I think you will see a sterling gold price well under £1000 next summer. 

So sell all your gold now then buy it all back after brexit?....wow, some heady risk there.

[DarkChameleon]

10 minutes ago, Roy said:

2008?

Remember it well.

I shifted a bunch of pounds to dollars, I mean a truck load, I'd emigrated earlier but still had my cash tied up...but then I saw the exchange get was in the mid $1.90's and thought it was time, took out everything, I like simply math...and love it when you are high on the deal a decade later.

[HawkHybrid]

2 minutes ago, DarkChameleon said:

So sell all your gold now then buy it all back after brexit?....wow, some heady risk there.

 

in moderation, for those who can, taking some profits

on more liquid(low spread) positions will allow for a

reduction in the risk going forward. it doesn't have to

be all in all out.

 

HH

[HighlandTiger]

8 minutes ago, DarkChameleon said:

So sell all your gold now then buy it all back after brexit?....wow, some heady risk there.

Nah I'll buy and sell no matter what the price. As long as I can still sell at a profit In a decade or two.

[DarkChameleon]

4 minutes ago, HighlandTiger said:

Nah I'll buy and sell no matter what the price. As long as I can still sell at a profit In a decade or two.

I figure when my gold scrap hits 1000g then it's away to fleabay...or anywhere else I can get a better return after costs...then it's cash is king and pick up sovs again...my mountain is not big enough...smaug needs more padding.

[silenceissilver]

19 minutes ago, DarkChameleon said:

So sell all your gold now then buy it all back after brexit?....wow, some heady risk there.

No, just keep buying whatever the price unless it's in a bubble but we are far away from that. Also I don't hink a gold price bubble can even happen without an economic/financial crisis.