Gold Monitoring Thread £ GBP only

[Bratnia]

2 hours ago, Paul said:

My initial predictions of £2000oz are now proved wrong 

wonger must be correct

$400oz any day now 

Sell sell sell 

Don't try to catch a falling knife 🗡️ 

[silversky]

9 hours ago, PhilB said:

£1870, It looks like a perfect setup for a friday Mr Slammy event. Hope not but it's all noise on the multi Yr time frame! 

Well spotted.  Taken quite a slamming.

[silversky]

4 hours ago, Paul said:

Cut the Sky TV subscription and make do with FreeView first would help get that bill down a bit 

Finally back on topic....  Cut the Sky and Freeview... allowing you to cut the TV licence... saving yourself £170 a year!!  This frees up more time to enjoy all of the glorious content on TSF instead!!  Win win.

According to chit GPT 6, if 67 Million people did that, then we could pay off the national debt, go on holiday, and still have enough change left over to buy a half sovereign each!!!  Magnificent.

[bobski]

6 hours ago, Paul said:

I'm doing @bobski's job here for him  

where do I pick up my wages for the day ? hope its not paid in silver 

it tipped over £1875 in the past hour 

I got a promotion from a fortune cookie

My new job is coin photographing tutorials + superiority

[gji25]

9 hours ago, 9x883 said:

Rotten 🍎 

Smackdown underway?

Will it stay above £1850 for the weekend?

No

[gji25]

6 hours ago, Paul said:

China and Russia probably did when today's white shoe wall street boys shorts paid for the after work champagne 🍾 🥂 and lines of Columbia's finest white sniff 

You mean Columbia,s Finest potatoe produce 😎

[Thelonerangershorse]

19 hours ago, 9x883 said:

Rotten 🍎 

Smackdown underway?

Will it stay above £1850 for the weekend?

£1836.54

So, Nope,

[Bratnia]

[Dankanugget]

59 minutes ago, Bratnia said:

Quite a difference on the gold price here and Shanghai....buy the dip?

[Bratnia]

2 hours ago, Dankanugget said:

Quite a difference on the gold price here and Shanghai....buy the dip?

Out of hours, so wide and varying spreads. In hours and the spreads narrow/different vaults tend to see the prices more align, they (BullionVault) claim a average 0% spread. Order Board fees are 0.1% after the first $75K of value traded in a single year, so comparable to a £300/year account fee and 0.1% buy (or sell) trading fee, so to move gold from one vault to another is a sell and then buy type action/cost (0.2%). Transfers out (withdrawals) below £20,000 are free (via BACS) and you can buy/sell gold from/to different currencies ($, £, Euro, Yen) - so in some cases a relatively inexpensive way to do some currency conversions (FX). Not as narrow/small FX costs as Interactive Broker however (another good feature with IB is that they come under US deposit protection limits i.e. multiples more than the typical UK 100K Euro/£85K protections).

Like with owning both UK and US exchanges stocks, so you can sell at least some shares between 8am and 10pm (during London then New York market hours) and a spread-bet account, its worthwhile also holding a gold trading account such as BullionVault alongside your physical gold for potential out of hours trading. If some news event breaks then the potential to exit (or add) ahead of others. Diversification is always a good thing, concentration risk is a major risk factor.

[Chronos]

As Dominoes Fall, Gold Will Stand Stronger Than Ever:

https://www.zerohedge.com/markets/von-greyerz-dominoes-fall-gold-will-stand-stronger-ever

[James32]

1 minute ago, Chronos said:

As Dominoes Fall, Gold Will Stand Stronger Than Ever:

https://www.zerohedge.com/markets/von-greyerz-dominoes-fall-gold-will-stand-stronger-ever

Who's playing dominoes? Get to work

[bipolar]

27 minutes ago, Chronos said:

As Dominoes Fall, Gold Will Stand Stronger Than Ever:

https://www.zerohedge.com/markets/von-greyerz-dominoes-fall-gold-will-stand-stronger-ever

The author of that article, along with others such as Alasdair Macleod, make a living through spreading fear.

Gold preserves wealth; it won't make you the next Jeff Bezos

Edited June 22 by bipolar

[HonestMoneyGoldSilver]

-

Edited June 22 by HonestMoneyGoldSilver

[Paul]

49 minutes ago, Chronos said:

As Dominoes Fall, Gold Will Stand Stronger Than Ever:

https://www.zerohedge.com/markets/von-greyerz-dominoes-fall-gold-will-stand-stronger-ever

I'm starting to begin to get a sneaky feeling, that zerohedge are peddlers of doom and gloom porn. 

[Paul]

24 minutes ago, bipolar said:

The author of that article, along with others such as Alasdair Macleod, make a living through spreading fear.

Gold preserves wealth; it won't make you the next Jeff Bezos

The same as the likes of Andrew Maguire, the end is nigh is just around the corner.

Remember him saying collapse was imminent listening to him on king world news in 2009. Still saying the same things today.

Stopped ⌚ ⏰ clocks are still right twice a day 

[Dankanugget]

It's 4 am and It's sunny outside and all is well....here ye here ye..

[James32]

7 minutes ago, Dankanugget said:

It's 4 am and It's sunny outside and all is well....here ye here ye..

Bit early for the vodka. 

[Bratnia]

24 minutes ago, Paul said:

I'm starting to begin to get a sneaky feeling, that zerohedge are peddlers of doom and gloom porn. 

Well the article suggests : "All currencies will lose dramatically in real terms which means against gold".

Failures - "the death of money" - as suggested ... collapse of currencies and treasury debts isn't a issue if you're appropriately diversified/invested and don't lend to someone who has a money printing press. Pounds/dollars/cash/cash deposits/Gilts/Treasury's ... whatever are only for very near term spending (or receiving) - should be dumped out of your wallet asap in return for (or drawn from) real assets, stocks/land/gold. For those that are appropriately invested the collapse of money can leave you vastly wealthier than those around you who opted to perhaps store all their money in a cash-savings account or who bought/held Gilts.

 

[Paul]

13 minutes ago, Bratnia said:

Well the article suggests : "All currencies will lose dramatically in real terms which means against gold".

Failures - "the death of money" - as suggested ... collapse of currencies and treasury debts isn't a issue if you're appropriately diversified/invested and don't lend to someone who has a money printing press. Pounds/dollars/cash/cash deposits/Gilts/Treasury's ... whatever are only for very near term spending (or receiving) - should be dumped out of your wallet asap in return for (or drawn from) real assets, stocks/land/gold. For those that are appropriately invested the collapse of money can leave you vastly wealthier than those around you who opted to perhaps store all their money in a cash-savings account or who bought/held Gilts.

It's always nearly doom and gloom o'clock until it happens.

Then they'll milk it like they are Nostradamus michael burry style when it actually happens

[GoldDiggerDave]

Kick the pants out of evert  price scenario story .......Can the average stacker hold enough gold for it to have a meaningful effect on their life?'  

Whats the average Joe really on the hook for?   Mortgage, rent, debt,  car loans, student debt, cost of living etc etc.     Most would need 400-500k  just to get to the point where there bank balance and debt equal ZERO.  So a stacker today woudl need 200-250k in gold and hope it doubles in price, instantly. 

100k in gold would need prices   4-5x 

50k in gold would need  prices 8-10x 

10k in gold would need prices  40-50x  

oh and the 1 sovereign millionaire. (and you know who you are 🤣) ...........1000-1250x

Its different for everyone,  but ask yourself how much money to you need today to have exactly ZERO not a 1p's worth of debt or a 1p's positive balance.

 

 

[Bratnia]

[Bratnia]

36 minutes ago, GoldDiggerDave said:

Kick the pants out of evert  price scenario story .......Can the average stacker hold enough gold for it to have a meaningful effect on their life?'  

Whats the average Joe really on the hook for?   Mortgage, rent, debt,  car loans, student debt, cost of living etc etc.     Most would need 400-500k  just to get to the point where there bank balance and debt equal ZERO.  So a stacker today woudl need 200-250k in gold and hope it doubles in price, instantly. 

100k in gold would need prices   4-5x 

50k in gold would need  prices 8-10x 

10k in gold would need prices  40-50x  

oh and the 1 sovereign millionaire. (and you know who you are 🤣) ...........1000-1250x

Its different for everyone,  but ask yourself how much money to you need today to have exactly ZERO not a 1p's worth of debt or a 1p's positive balance.

Guessing you're in your 20's/30's. By your 40's you may very well own your car, and your home and some savings built up - some even to the point of thinking about retiring. 50's/60's and that has grown to enough to retire and a redirection of focus onto wealth preservation rather than growth.

I retired in my mid 40's, now early 60's and ... more than enough, couple of homes, a reasonable portfolio of stocks and gold and where pensions will also soon kick in to supplement income/spending.

Frugality is key, don't have the latest computer or phone, drive a reliable but bland car, spend less than your income/savings cover. The initial biggie is getting the house paid down to a comfortable level, I originally bought at a peak and when interest rates subsequently rose to 15%+, had to work all the hours I could and even had to move back to my parents for a while and rented the property out. But persistence paid off and inflation helped erode the mortgage etc. until we up-sized ... paid that down and then started accumulating savings. Retired with worries that the savings were perhaps not enough, but that over time have grown considerably in real terms.

Caution - strong language ...

 

Edited June 22 by Bratnia

[James32]

23 minutes ago, GoldDiggerDave said:

Kick the pants out of evert  price scenario story .......Can the average stacker hold enough gold for it to have a meaningful effect on their life?'  

Whats the average Joe really on the hook for?   Mortgage, rent, debt,  car loans, student debt, cost of living etc etc.     Most would need 400-500k  just to get to the point where there bank balance and debt equal ZERO.  So a stacker today woudl need 200-250k in gold and hope it doubles in price, instantly. 

100k in gold would need prices   4-5x 

50k in gold would need  prices 8-10x 

10k in gold would need prices  40-50x  

oh and the 1 sovereign millionaire. (and you know who you are 🤣) ...........1000-1250x

Its different for everyone,  but ask yourself how much money to you need today to have exactly ZERO not a 1p's worth of debt or a 1p's positive balance.

 

 

I've 2 x full sovereigns and 11ozs of silver..is this enough?

[Paul]

Just now, James32 said:

I've 2 x full sovereigns and 11ozs of silver..is this enough?

Your portfolio is unevenly balanced James

you need some platinum in there to spread the risk and HMRC coffers need the VAT they're nearly £3 trillion in the hole, so do your bit for king and country