Gold Monitoring Thread £ GBP only

[flyingveepixie]

I don't reckon there will be a smackdown this weekend. It seems to me that the manipulators are buying hard in the last two days in preparation for a possible negative event this weekend when all the markets are shut. Safe haven behaviour for some reason....🤔

I've been seeing this pattern quite often over the past year. If nothing happens there might be a big sell off at the beginning of next week....

...or there might not be....🤔

This might have something to do with it...

 

Edited June 7 by flyingveepixie

[flyingveepixie]

£1838.63    Down from £1867.05 at 06.03am this morning.  So much for crystal ball gazing...🤒

[HerefordBullyun]

4 minutes ago, flyingveepixie said:

£1838.63    Down from £1867.05 at 06.03am this morning.  So much for crystal ball gazing...🤒

I find that odd as my Gold miners ETF is UP this morning.

[Dankanugget]

9 minutes ago, HerefordBullyun said:

I find that odd as my Gold miners ETF is UP this morning.

Cheap prices needed before a black swan

[James32]

3 hours ago, flyingveepixie said:

I don't reckon there will be a smackdown this weekend. It seems to me that the manipulators are buying hard in the last two days in preparation for a possible negative event this weekend when all the markets are shut. Safe haven behaviour for some reason....🤔

I've been seeing this pattern quite often over the past year. If nothing happens there might be a big sell off at the beginning of next week....

...or there might not be....🤔

This might have something to do with it...

 

Aged well 😂 

[HerefordBullyun]

This is unprecedented, the ECB cut interest yesterday, this could be now the tagline for FED to follow suit.... interesting times

https://www.euronews.com/business/2024/06/04/ecb-expected-to-cut-interest-rates-this-week-what-you-need-to-know

[Gruff]

7 minutes ago, HerefordBullyun said:

This is unprecedented, the ECB cut interest yesterday, this could be now the tagline for FED to follow suit.... interesting times

https://www.euronews.com/business/2024/06/04/ecb-expected-to-cut-interest-rates-this-week-what-you-need-to-know

And then we will follow suit, but I would assume only after all the GE shenanigans in this country, so a rate cut in August? However, if we are late to the party, it will strengthen the pound as money market players look to get a higher rate of interest in UK Gilts, as opposed to US T-bonds or EUR bonds

[9x883]

Smackdown Friday as predicted.

Gold price consultations are available.

PM for pricing

Use code SF7June for 10% off your first session

😂😅

[Spyder]

Now that interest rates are predicted to come down, if anyone wants some decent fixed bond price interest have a look at STAB and RSAB both pay about 6% and for an even higher rate IPF3 paying close to 11%.  If anyone wants to buy, make sure it is in a stock and share ISA. I use HL just for information  DYOR.

https://www.hl.co.uk/shares/shares-search-results/i/international-personal-finance-plc-12-2027

https://www.hl.co.uk/shares/shares-search-results/r/rsa-insurance-group-7-38-cum-pref

https://www.hl.co.uk/shares/shares-search-results/s/standard-chartered-7-38-noncum-ird-prf

[Gruff]

https://www.zerohedge.com/markets/gold-overtakes-euro-global-international-reserves

 

Gold Overtakes Euro in Global International Reserves

BY TYLER DURDEN

FRIDAY, JUN 07, 2024 - 11:30 AM

ByJan Nieuwenhuijs of Gainesville Coins

Sturdy central bank gold buying since 2009 and a rising gold price has grown the precious metal’s share of global international reserves to the detriment of fiat currencies.
By the end of 2023 gold surpassed the euro and the next fiat currency to be challenged is the US dollar.

Often when financial analysts draw charts on the distribution of international reserves they focus on foreign exchange (omit gold) and start when the euro was introduced in 1999.
Based on such charts the dollar’s share of total reserves appears to be falling slowly, from a peak of 72% in 2001 to 58% in 2023. In addition, it seems there is not one specific currency that is competing with the dollar.

But why not include gold and look back as far as possible? By combining multiple sources, we get a glimpse of the dissemination of reserve currencies from 1899 until 1935 (both fiat and gold), and a full picture starting from 1950.

This paints a whole different story. Instead of showing only the demise of the dollar at snail pace, the historic balance between gold and fiat currencies is revealed. It’s not the dollar that normally backs the international monetary system, it’s gold.
Gold used to make up the majority of international reserves, even when sterling was said to be the world reserve currency before the dollar. In a chart covering more years but only gold and the dollar, the latter’s reign becomes even more relative.

The above chart displays that the dollar’s share of total reserves has fallen to 48% in 2023—caused by a declining trust in “credit assets” (fiat currencies), due to worrying asset bubbles, escalating wars, and fear of inflation—while gold is making ground.
Based on personal calculations of official gold reserves that include covert acquisitions, for example by the Chinese central bank, gold's percentage of total reserves reached 18% in 2023, up from 11% in 2008. Gold has currently surpassed the euro, which got stuck at 16%.
As the problems haunting fiat currencies won’t fade anytime soon it’s possible gold will overtake the dollar as well in the decade ahead (explained more detailed here). Be sure not to miss the X-post below that includes a video illustrating the development of reserve assets since 1950 in a bar chart race!

 

[bettyswollocks]

1800 and I'll buy!

[HonestMoneyGoldSilver]

$2280-2450 (£1790-1923) should be the range this summer. If we have consecutive closes outside of those then something major has happened. Yep, we're flirting pretty close to the lower end right now but it's all gonna be OK, don't sell your stack just yet! 

Buy the dips all summer and it's likely you will be rewarded in September. I'm planning on making a significant investment in July-August the same as I did last year, which worked out pretty good

[modofantasma]

3 minutes ago, bettyswollocks said:

£1800 and I'll buy!

I can help .. how many sovs do you want at £1800 a pop?

[James32]

3 minutes ago, bettyswollocks said:

1800 and I'll buy!

Buy what?

£1800 and I'm buying new underwear. 

[bettyswollocks]

11 minutes ago, modofantasma said:

I can help .. how many sovs do you want at £1800 a pop?

Got any of those eddy eights?

[modofantasma]

6 minutes ago, bettyswollocks said:

Got any of those eddy eights?

Will do you some Ed VII same same ish

[Spyder]

11 minutes ago, bettyswollocks said:

Got any of those eddy eights?

Was he not on Coronation Streets hundred years ago?

[KRO]

3 hours ago, 9x883 said:

 

Use code SF7June for 10% off your first session

😂😅

Would that be for your up and down services 😀

[9x883]

3 minutes ago, KRO said:

Would that be for your up and down services 😀

Nope, that's extra

[gji25]

5 hours ago, flyingveepixie said:

£1838.63    Down from £1867.05 at 06.03am this morning.  So much for crystal ball gazing...🤒

Its called a slam dunk

 

[BLOOMMAN101]

DOLLAR CHART

 

[BLOOMMAN101]

GBP

 

[James32]

Just now, BLOOMMAN101 said:

GBP

 

Make it stop, make it stop now!

[9x883]

I just can't anymore 

[BLOOMMAN101]

5 minutes ago, James32 said:

Make it stop, make it stop now!