Gold Monitoring Thread £ GBP only

[DisplayName]

Just now, 9x883 said:

Up

They haven't hit anything significant. It'll go down.

[Chronos]

58 minutes ago, Spyder said:

I have 5 sovereign that I want to list. What are we saying up or down when markets open tonight?

Yes.

[Dankanugget]

Do they have copper spots?

[Spyder]

16 minutes ago, Chronos said:

Yes.

Looks like the listing is off. A member PM'ed and did not want to wait for the market to open. 

[SovereignBull]

Was it a 5 sovereign or 5 sovereign’s out of interest?

[Spyder]

Just now, SovereignBull said:

Was it a 5 sovereign or 5 sovereign’s out of interest?

It was 5 carded Sovereigns with different years

[SovereignBull]

1 minute ago, Spyder said:

It was 5 carded Sovereigns with different years

God dammit! Would have had some of those! Oh well another time

[bobski]

Live Gold Price

Au

Current Price

£1,818.77

Live Change

-0.12% £-2.07

Live high £1,821.01

 

Live low £1,818.17

[bobski]

Current Price

£1,825.17

Live Change

0.11% £+1.85

Live high £1,825.99

 

Live low £1,823.32

[HerefordBullyun]

 

[Bratnia]

1 hour ago, HerefordBullyun said:

 

The UK is the central time zone between Australia and US and a primary hub for law, accounting and finance. London gold bars were once literally moved between country cages within the London vaults in reflection of international trade settlements when gold was money. Repatriation of gold distances that gold from the main markets, countries/central banks hold London bars in London for the assurances and liquidity in times of domestic crisis that provides. If for the instance the Rupee crashed and India had run low on US Dollars then gold can substitute rather than defaulting (that subsequently tends to lead to much higher interest rates etc.). Removing gold from London into India is a bad move, those bars are no longer trusted, might have to be moved back to London and assayed etc. in insufficient time to avoid a potential default and adds local geopolitical risk factors. The move is predominately a political slap/insult against capitalism/West likely driven by Russia/China. The amount of savings not having to pay London storage fees is much lower, near insignificant compared to what it will cost via other channels due to India's risk rating being increased.

[HerefordBullyun]

3 minutes ago, Bratnia said:

Removing gold from London into India is a bad move, those bars are no longer trusted, might have to be moved back to London and assayed etc. in insufficient time to avoid a potential default and adds local geopolitical risk factors. 

There's a reason BRICS

I= India 

Given the fact UK plundered 30 trillion from India from its rule its hardly surprising..... Many other african countries are starting to repatriate - welcome to the new norm...

[Bratnia]

5 minutes ago, HerefordBullyun said:

There's a reason BRICS

I= India 

Given the fact UK plundered 30 trillion from India from its rule its hardly surprising..... Many other african countries are starting to repatriate - welcome to the new norm...

Typical woke comment. Imagine India today without its present day railway system. Yes the BRIC's are being fooled into moving away from the capitalist markets, take a look around the world at where that is the preference and that's typically where the worlds 50% poorest populations "live". Neither gold standard nor fiat is perfect, but of the two fiat is the better of the two. India's shift is fundamentally a move towards war war rather than jaw jaw. Hands a platter to China to increase their land border disputes.

[HonestMoneyGoldSilver]

3 minutes ago, HerefordBullyun said:

There's a reason BRICS

I= India 

Given the fact UK plundered 30 trillion from India from its rule its hardly surprising..... Many other african countries are starting to repatriate - welcome to the new norm...

If the UK really plundered $30 trillion from India, why are we so bloody poor? 

[HerefordBullyun]

8 minutes ago, Bratnia said:

Typical woke comment. Imagine India today without its present day railway system. Yes the BRIC's are being fooled into moving away from the capitalist markets, take a look around the world at where that is the preference and that's typically where the worlds 50% poorest populations "live". Neither gold standard nor fiat is perfect, but of the two fiat is the better of the two. India's shift is fundamentally a move towards war war rather than jaw jaw. Hands a platter to China to increase their land border disputes.

How is it woke? It's a fact the British empire plundered trillions from India when they ruled over them.

And for the record India is concerned over the Chinese presence near their border also, so all is not that rosy. 

Taken from Chat GPT Some estimates suggest that India may have lost trillions of dollars in wealth due to British colonial rule, taking into account factors such as resource exploitation, forced labor, famines, and economic policies that favoured British interests over Indian development.

9 minutes ago, HonestMoneyGoldSilver said:

If the UK really plundered $30 trillion from India, why are we so bloody poor? 

Well we piled in to their space programme for a start, and foriegn aid...

[Bratnia]

7 minutes ago, HerefordBullyun said:

How is it woke? It's a fact the British empire plundered trillions from India when they ruled over them.

And for the record India is concerned over the Chinese presence near their border also, so all is not that rosy. 

Taken from Chat GPT Some estimates suggest that India may have lost trillions of dollars in wealth due to British colonial rule, taking into account factors such as resource exploitation, forced labor, famines, and economic policies that favoured British interests over Indian development.

Well we piled in to their space programme for a start, and foriegn aid...

As did the Spanish empire plunder South American gold. As did the Ottoman empire enslave whites. etc. etc.

The Spanish empire collapse was primarily down to running out of gold to plunder and being left with little/no domestic skills/resources due to over-importing such skills/resources (paid for in gold).

And what did the Roman's do for us?

History is riddled with sadness. What about WW1 when boys/young men were railed into wet/muddy trenches and then at a blow of a whistle had to climb out and run towards cross firing machine guns, or otherwise be shot.

[stackspot]

27 minutes ago, HonestMoneyGoldSilver said:

If the UK really plundered $30 trillion from India, why are we so bloody poor? 

Spending it same as the North Sea oil money that was spent

Norway still has theirs

[Bratnia]

43 minutes ago, HerefordBullyun said:

There's a reason BRICS

I= India 

Given the fact UK plundered 30 trillion from India from its rule its hardly surprising..... Many other african countries are starting to repatriate - welcome to the new norm...

Sadly for those countries they're tying themselves into domination by China for very little present day benefit. Repatriate their gold, send it to China (trade deficits), be bound in by debt ... and broke. The ending of the ice age (global warming) will induce much less stable weather compounding poverty/famines/floods. Capitalism at least directs towards uplift, BRICS are the opposite, a longer term leveling down.

[Bratnia]

4 minutes ago, stackspot said:

Spending it same as the North Sea oil money that was spent

Norway still has theirs

Norway's entire population is fewer than the number of UK population that are unemployed/on benefits/zero hour contracts (fundamentally the same thing, just accounting terminology).

[Dankanugget]

Empires rise and empires fall and along with it whatever they did or accomplished. Romans dominated the UK and most of Europe. Vikings stole from Ireland, slaves and delivered them to Arabic countries as trading ensued. Went as far as Russia with trade and plundering. Turks under the ottoman empire dictated and destroyed Europe making slaves of all who resisted and killed them Even to this day the Armenian people are persecuted and were massacred by the turks It has happened and may well continue to happen. Nothing new under the sun. No country owes another because of ruling it. Some countries may of benefited by actual trade. Yes people were treated harshly under many regimes but it's history. Who pays who? The Italians pay the UK for what the Romans did? Turks pay the Serbs and  Croatians, Spanish and most of Europe etc for taking over their towns and taking their boys as slaves to work with the empire? 

Swedes pay the Irish and the English for destroying monasteries and taking slaves?

Past has gone....forgiveness works for me as if you want to exact the law you have to start with yourself first and you only have two eyes and a few teeth.

 

 

[HowardW]

1 hour ago, Bratnia said:

The UK is the central time zone between Australia and US and a primary hub for law, accounting and finance. London gold bars were once literally moved between country cages within the London vaults in reflection of international trade settlements when gold was money. Repatriation of gold distances that gold from the main markets, countries/central banks hold London bars in London for the assurances and liquidity in times of domestic crisis that provides. If for the instance the Rupee crashed and India had run low on US Dollars then gold can substitute rather than defaulting (that subsequently tends to lead to much higher interest rates etc.). Removing gold from London into India is a bad move, those bars are no longer trusted, might have to be moved back to London and assayed etc. in insufficient time to avoid a potential default and adds local geopolitical risk factors. The move is predominately a political slap/insult against capitalism/West likely driven by Russia/China. The amount of savings not having to pay London storage fees is much lower, near insignificant compared to what it will cost via other channels due to India's risk rating being increased.

I think you make too much of this ...100 tons is $7.5 billion...that's peanuts given the size of India's economy and peanuts given India's $600 billion+ of total reserves. The Asian Central Banks all learned the lessons from the Asian financial crisis and are loaded with reserves.

If India got into financial trouble, 100 tons of pledgable gold wouldn't help them...and I'm not sure even the IMF could

Isn't this just part of a trend (Germany reserves back from US, Poland back home too...I remember there are others) because US and UK are not safe locations any more? (Aside from freezing, confiscation etc, a Russian nuke on London would render the gold inaccessible..for some time)

[theman73]

1 hour ago, HonestMoneyGoldSilver said:

If the UK really plundered $30 trillion from India, why are we so bloody poor? 

Ask the 1%

[Anteater]

36 minutes ago, theman73 said:

Ask the 1%

@James32 ?

[Bratnia]

56 minutes ago, HowardW said:

I think you make too much of this ...100 tons is $7.5 billion...that's peanuts given the size of India's economy and peanuts given India's $600 billion+ of total reserves. The Asian Central Banks all learned the lessons from the Asian financial crisis and are loaded with reserves.

If India got into financial trouble, 100 tons of pledgable gold wouldn't help them...and I'm not sure even the IMF could

Isn't this just part of a trend (Germany reserves back from US, Poland back home too...I remember there are others) because US and UK are not safe locations any more? (Aside from freezing, confiscation etc, a Russian nuke on London would render the gold inaccessible..for some time)

70% of the Russian population live within the continental Europe western strip, alone the UK response would wipe out that population and a high probability much if not all of the rest of the global population along with it.

Even 100 tons of gold as a backstop, assayed/audited and already in place in the primary gold market place could make a significant difference at points in time. A difference between having defaulted and not and where defaults are subsequently very expensive/detrimental. Fundamentally relatively inexpensive insurance to leave it in London.

All countries sooner or later endure down to the wire conditions (even the US), settle by midday tomorrow or else have defaulted, and a promise of sending gold from India to London, have it assayed and delivered etc. for logistic reasons alone just ain't going to happen. Especially when other central banks are likely to benefit from such a default.

[HowardW]

4 minutes ago, Bratnia said:

70% of the Russian population live within the continental Europe western strip, alone the UK response would wipe out that population and a high probability much if not all of the rest of the global population along with it.

Even 100 tons of gold as a backstop, assayed/audited and already in place in the primary gold market place could make a significant difference at points in time. A difference between having defaulted and not and where defaults are subsequently very expensive/detrimental. Fundamentally relatively inexpensive insurance to leave it in London.

All countries sooner or later endure down to the wire conditions (even the US), settle by midday tomorrow or else have defaulted, and a promise of sending gold from India to London, have it assayed and delivered etc. for logistic reasons alone just ain't going to happen. Especially when other central banks are likely to benefit from such a default.

I did smile when you wrote "the UK response alone". The subs would be sunk at the outbreak of hostilities (only one at sea at a time and I'm sure that s well tracked), the missiles didn t work last time they were tested and anyway the US have the master codes and would have to give permission... highly questionable that we actually have a functional nuclear deterrent and it's certainly not independent.

But more seriously

Why did Germany take its gold home from the US?