Gold Monitoring Thread £ GBP only

[ZRPMs]

Bloody typical. 

What the gold price? £1,851

Great, so the MS61 canadian 1918 and the MS63 1919 canadian are £xxxxx postage included. Ok I'll take them.

Transfer done 

 What the flip is happening to the gold price £1,826

Don't worry, could be worse. It could be  Silveeeeeer

[Chronos]

Japan Confirms It Spent A Record $62 Billion In Failed Attempt To Prop Up Yen:

https://www.zerohedge.com/markets/japan-confirms-it-spent-record-62-billion-failed-attempt-prop-yen

4 minutes ago, ZRPMs said:

 Silveeeeeer

Reported.

[bobski]

Current Price

£1,827.07

Live Change

-0.05% £-0.87

Live high £1,828.00

 

Live low £1,826.85

[Spyder]

7 minutes ago, ZRPMs said:

Bloody typical. 

What the gold price? £1,851

Great, so the MS61 canadian 1918 and the MS63 1919 canadian are £xxxxx postage included. Ok I'll take them.

Transfer done 

 What the flip is happening to the gold price £1,826

Don't worry, could be worse. It could be  Silveeeeeer

If you just bought those two coins, I do not think that spot dropping by a few quid would make any difference to those two coin prices.

Congratulations on taking another couple off your list.

[Chronos]

After Japan, Now it’s Europe’s turn to sacrifice itself to keep the US Market alive until elections …:

https://justdario.com/2024/05/after-japan-now-its-europes-turn-to-sacrifice-itself-to-keep-the-us-market-bubble-alive-until-the-elections

Edited May 31 by Chronos

[ZRPMs]

2 minutes ago, Spyder said:

If you just bought those two coins, I do not think that spot dropping by a few quid would make any difference to those two coin prices.

Congratulations on taking another couple off your list.

Only trying to raise a chuckle. I'm getting there slowly with the old sovereign bingo sheet. Many thanks.

[Thelonerangershorse]

28 minutes ago, ZRPMs said:

What the flip is happening to the gold price £1,826

 

7 hours ago, Thelonerangershorse said:

Just made my purchase so expect a smackdown in gold price in 3...2...1...

 

Can't say you weren't warned.

[Chronos]

Chicago PMI Unexpectedly Craters To Depression Levels:

https://www.zerohedge.com/economics/chicago-pmi-unexpectedly-craters-depression-levels

[Chronos]

Houthi Rebels Claim Missile Attack On US Nuclear-Powered Carrier; DoD Official Says This Is "False Info":

https://www.zerohedge.com/geopolitical/houthis-claim-missile-attack-us-nuclear-powered-aircraft-carrier-red-sea

[Agaupl]

Is this true?!?

[Bratnia]

47 minutes ago, Agaupl said:

Is this true?!?

Wasn't aware that you could still even trade such US ETF's/funds, EU directives to put up barriers against europeans holding US funds have been in place for years now. I had to sell out of a great US mutual fund many years ago (that paid 1%/month in cash that I'd held for over a decade) as it had become prohibited by the EU backed further up by the UK opting to tax all gains/returns at income tax rates rather than capital gains. As per then existing holders were permitted to continue holding, but not in a ISA and where only sell trades were permitted (and any gains/returns counted as income taxable).

The EU is much more of a closed/controlled market than what many perceive. Citizens pay more for less. Ejecting investors out of other markets such as US funds is just a small part of that.

[Bratnia]

21 hours ago, Brit2023 said:

Price fixing.

I noticed that the nationaldebtclock for gold has seen around 0.11 times more the amount of physical gold having been paper-gold created in the last couple/few days. When 11% more gold is just 'found' like that then it will tend to push prices lower. Who might be behind that, well the dollars been weakening so to better keep the dollar aligned to gold then lowering the price of gold is one way to achieve that. The Fed have gold certificates provided by the Treasury at $42.22/ounce, so over a 50x leverage factor there. 20 cents on the dollar. If that is also deployed into Futures/Options then there's a 124x leverage factor there, so combined 0.16 cents for each dollar. So the US central bank can relatively easily/inexpensively manipulate the price of gold.

[Agaupl]

15 minutes ago, Bratnia said:

Wasn't aware that you could still even trade such US ETF's/funds, EU directives to put up barriers against europeans holding US funds have been in place for years now. I had to sell out of a great US mutual fund many years ago (that paid 1%/month in cash that I'd held for over a decade) as it had become prohibited by the EU backed further up by the UK opting to tax all gains/returns at income tax rates rather than capital gains. As per then existing holders were permitted to continue holding, but not in a ISA and where only sell trades were permitted (and any gains/returns counted as income taxable).

The EU is much more of a closed/controlled market than what many perceive. Citizens pay more for less. Ejecting investors out of other markets such as US funds is just a small part of that.

Sounds great 🤣🤣 what a joke. 

[Gruff]

 

 

[Bratnia]

5 hours ago, Agaupl said:

Sounds great 🤣🤣 what a joke. 

This goes back around 5 years : UK Retail clients are restricted from trading in US funds. Opening orders from retail investors residing in the European Economic Area (EEA) who attempt to enter an opening order that are associated with a product that does not comply with the EU's Packaged Retail and Insurance-based Investment Product Regulation (PRIIPS) will be rejected. The regulation is intended to enhance understanding of these products through the provision of disclosure documentation. This documentation is referred to as the Key Information Document (or "KID") which. The KID provides information such as product description, costs, risks & performance. KID's are mostly a useless document and US fund managers can't be bothered with creating/registering/maintaining/administering them on the behalf of potential European potential investors and the different compliance matters that involves.

Just as bad is that Americans will find it difficult to open/run bank/brokerage accounts within Europe. Most banks/brokers simply refuse. Again due to the reporting/compliance matters that involves.

In many cases for major funds like the US S&P500 you'll find that there are ETF's listed in Ireland that you can trade from within Europe. A factor there is that now that the UK is outside of the EU there is a risk that access to Irish (EU) based funds might at any time be dropped/changed, which if that investment has built up a considerable capital gain could mean a large tax hit in having to sell/move that capital. There are no ETF's domiciled within the UK that I know of, typically the alternative is Investment Trusts, stocks that list in London, whose primary 'business' is buying/selling shares i.e. same/similar to a ETF/fund. A factor there is that like any other stock you'll pay a 0.5% stamp duty to buy. FCIT https://www.fandc.com/ for instance has been running since 1868 and might be considered similar to a world stock index fund. There are loads of other Investment Trusts that individually target particular choices of asset allocations/styles. Trustnet https://www.trustnet.com/factsheets/t/fj19/foreign-&-colonial-inv-tst is a good web site for researching those.

For yet further reading https://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act FATCA was largely responsible for the EU opting to go with PRIIPS/KID's. Fundamentally a shift towards where states knowing where every penny you have came from and is saved/spent, as when others know such detail its no longer your wealth, instead its just a loan. All driven through under the pretext of anti money laundering/tax evasion - but that gives no regard/protection against extreme levels of taxation or other forms of state driven confiscation. Physical gold and hard cash are the last remaining stands, but likely in time they also fall. Crypto is a potential counter, however states are doing their utmost to hinder/cripple/ban that, might still exist but in a form that the state(s) directly control.

The UK tax rulebook (HMRC) has also been massively expanded and is obscure in many ways to the extent that anyone could be found to have broken a rule somewhere i.e. a transition from innocent until proven guilty to a automatic assumption of guilty unless you can prove otherwise. Society reflects that and socially its more like a Open Prison, where your movements, transactions, thoughts ..etc. are all recorded/monitored by the state. But the younger gen have just accepted/aided such a transition - seemingly just don't care. A couple of centuries ago and the state couldn't even introduce income taxes - because too many considered that to be none of the states business of how much they earned/had.

As that progresses further things will become even worse, no hard cash, electronic only and the banks can charge fees that cannot be avoided, as might the state define who and what can buy/sell things. Councils will increasingly automatically fine individuals for traps ... jaywalking etc. Similar to Demolition Man where Stallone was repeatedly fined for swearing

[Agaupl]

2 minutes ago, Bratnia said:

This goes back around 5 years : UK Retail clients are restricted from trading in US funds. Opening orders from retail investors residing in the European Economic Area (EEA) who attempt to enter an opening order that are associated with a product that does not comply with the EU's Packaged Retail and Insurance-based Investment Product Regulation (PRIIPS) will be rejected. The regulation is intended to enhance understanding of these products through the provision of disclosure documentation. This documentation is referred to as the Key Information Document (or "KID") which. The KID provides information such as product description, costs, risks & performance. KID's are mostly a useless document and US fund managers can't be bothered with creating/registering/maintaining/administering them on the behalf of potential European potential investors and the different compliance matters that involves.

Just as bad is that Americans will find it difficult to open/run bank/brokerage accounts within Europe. Most banks/brokers simply refuse. Again due to the reporting/compliance matters that involves.

In many cases for major funds like the US S&P500 you'll find that there are ETF's listed in Ireland that you can trade from within Europe. A factor there is that now that the UK is outside of the EU there is a risk that access to Irish (EU) based funds might at any time be dropped/changed, which if that investment has built up a considerable capital gain could mean a large tax hit in having to sell/move that capital. There are no ETF's domiciled within the UK that I know of, typically the alternative is Investment Trusts, stocks that list in London, whose primary 'business' is buying/selling shares i.e. same/similar to a ETF/fund. A factor there is that like any other stock you'll pay a 0.5% stamp duty to buy. FCIT https://www.fandc.com/ for instance has been running since 1868 and might be considered similar to a world stock index fund. There are loads of other Investment Trusts that individually target particular choices of asset allocations/styles. Trustnet https://www.trustnet.com/factsheets/t/fj19/foreign-&-colonial-inv-tst is a good web site for researching those.

For yet further reading https://en.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act FATCA was largely responsible for the EU opting to go with PRIIPS/KID's. Fundamentally a shift towards where states knowing where every penny you have came from and is saved/spent, as when others know such detail its no longer your wealth, instead its just a loan. All driven through under the pretext of anti money laundering/tax evasion - but that gives no regard/protection against extreme levels of taxation or other forms of state driven confiscation. Physical gold and hard cash are the last remaining stands, but likely in time they also fall. Crypto is a potential counter, however states are doing their utmost to hinder/cripple/ban that, might still exist but in a form that the state(s) directly control.

The UK tax rulebook (HMRC) has also been massively expanded and is obscure in many ways to the extent that anyone could be found to have broken a rule somewhere i.e. a transition from innocent until proven guilty to a automatic assumption of guilty unless you can prove otherwise. Society reflects that and socially its more like a Open Prison, where your movements, transactions, thoughts ..etc. are all recorded/monitored by the state. But the younger gen have just accepted/aided such a transition - seemingly just don't care. A couple of centuries ago and the state couldn't even introduce income taxes - because too many considered that to be none of the states business of how much they earned/had.

As that progresses further things will become even worse, no hard cash, electronic only and the banks can charge fees that cannot be avoided, as might the state define who and what can buy/sell things. Councils will increasingly automatically fine individuals for traps ... jaywalking etc. Similar to Demolition Man where Stallone was repeatedly fined for swearing

TLDR

[bobski]

4 hours ago, Agaupl said:

TLDR

 

[BLOOMMAN101]

Sorry if this has already been posted

https://www.fxstreet.com/analysis/india-brings-100-tons-of-gold-home-for-safe-keeping-202405311926

 Mike Maharrey
Money Metals Exchange Follow

 

India brings 100 tons of Gold home for safe keeping

ANALYSIS | 05/31/2024 19:26:50 GMT

 

---

The Reserve Bank of India recently brought a little over 100 tons of gold home.

And more gold may be heading back to India in the near future.

The Indian central bank repatriated the gold from vaults in the UK.

According to a Times of India report, moving 100 tons of gold over 4,000 miles was "a massive logistical exercise, requiring months of planning and precise execution." Transporting 100 tons of gold required specialized aircraft and detailed security arrangements.

According to the latest official data released at the end of March, the RBI held 822 tons of gold with about half of that stored overseas.

An unnamed official told the Times of India the bank decided to move the gold for “logistical and storage diversification” reasons.

“RBI started purchasing gold a few years ago and decided to undertake a review of where it wants to store it, something that is done from time to time. Since stock was building up overseas, it was decided to get some of the gold to India.”

The RBI will also save storage costs paid to the Bank of England.

The Reserve Bank of India has been adding gold to its reserves in recent months.  According to the latest data released by the RBI, the Indian central bank increased its gold holdings by 24 tons through the first four months of the year. The RBI added 16 tons of gold to its holdings through the entirety of 2023.

India went on a big gold-buying spree in 2022, adding about 200 tons of gold to its reserves before slowing purchases later in mid-2023.

India is one of several central banks that have repatriated some of their gold holdings for safekeeping in recent years.

According to a World Gold Council survey in 2023, a “substantial share” of central banks expressed concern about potential sanctions after the U.S. and other Western countries froze almost half of Russia’s $650 billion gold and forex reserves in the wake of its invasion of Ukraine. According to the WGC, 68 percent of the banks surveyed said they plan to keep their gold reserve within their country’s borders. This was up from 50 percent in 2020.

One anonymously quoted central bank official told Reuters, “We did have it [gold] held in London… but now we’ve transferred it back to our country to hold as a safe haven asset and to keep it safe.”

Invesco head of official institutions Rod Ringrow told Reuters this reflects a widely held view.

"‘If it’s my gold then I want it in my country,’ has been the mantra we have seen in the last year or so.”

There has been speculation that countries have been moving gold and other assets out of the U.S. in the wake of economic sanctions on Russia, but it’s been difficult to confirm because the Federal Reserve will not release information on the amount of gold in its vaults.

Federal Reserve Chairman Jerome Powell recently evaded Rep. Alex Mooney’s (R-W.Va) questions about the central bank’s foreign gold holdings. The U.S. central bank has also declined to comply with a Freedom of Information Act request for records about such holdings.

As investigative reporter Ken Sylva wrote, Headline USA filed a FOIA request with the Fed for records reflecting how much gold the Federal Reserve Bank of New York currently holds in its vault, as well as records reflecting the ownership stake that each of FRBNY’s central bank/government clients have in that gold following Powell’s evasive response. The FOIA request also sought records about the Fed’s gold holdings prior to Russia’s February 2022 invasion of Ukraine.

The Fed denied the request.

The gold repatriation trend started long before the West slapped sanctions on Russia. In 2019, Poland brought home 100 tons of gold. Hungary and Romania also repatriated some of their gold reserves around that same time. In the summer of 2017, Germany completed a project returning roughly half of its gold reserves back inside its borders. In 2015, Australia launched efforts to bring half of its reserves home. The Netherlands and Belgium have also initiated repatriation programs.

This gold repatriation trend underscores the importance of holding physical gold free from counterparty risk. 

If you store your gold and silver with a third party could lose your metal through theft, fraud, or an act of God. Of course, you could lose silver and gold stored in your home the same way (except for fraud), so you have to weigh the risk of using third-party storage and keeping large amounts of silver and gold at home.

If you opt for third-party vaulting, it is important to choose a trusted company.

Money Metals offers secure precious metals storage in its own state-of-the-art facility.

[Agaupl]

Asking the difficult questions..

[bettyswollocks]

I've read so many articles this weekend but I still have no idea what it all means. Is the price going up or down when the market opens? Thoughts?

[Thelonerangershorse]

If you're driving a convertable with the top down whilst it's raining, then I suggest you seek invetsment advice from the NBS.

[Gruff]

1 minute ago, Thelonerangershorse said:

If you're driving a convertable with the top down whilst it's raining, then I suggest you seek invetsment advice from the NBS.

I've got a bridge to sell you

[Spyder]

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

[SovereignBull]

25 minutes ago, Spyder said:

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

I might be buying so def down after purchase 😂 or if I don’t buy price guaranteed to return to ATH! 
 

happens everytime

[9x883]

37 minutes ago, Spyder said:

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

Up