Gold Monitoring Thread £ GBP only

[Dankanugget]

Hi all what's a good price to pay for a double 2022 sov cheers?

[James32]

Just now, Dankanugget said:

Hi all what's a good price to pay for a double 2022 sov cheers?

Proof or bullion? Graded or raw? Jubilee or memorial?

[Dankanugget]

Just now, James32 said:

Proof or bullion? Graded or raw? Jubilee or memorial?

Sorry bullion raw QE11

Just now, Dankanugget said:

Sorry bullion raw QE11

Jubilee 

[James32]

Just now, Dankanugget said:

Sorry bullion raw QE11

Jubilee 

Bit thin on the ground so around £910-£920 I'd imagine. 

[Dankanugget]

Just now, James32 said:

Bit thin on the ground so around £910-£920 I'd imagine. 

Ok thanks 🙏 

[Paul]

Just now, James32 said:

Bit thin on the ground so around £910-£920 I'd imagine. 

https://www.chards.co.uk/2022-gold-double-sovereign-uncirculated-coin/15698

£909 delivered

@ 4.1% premium over spot 

[James32]

Just now, Paul said:

https://www.chards.co.uk/2022-gold-double-sovereign-uncirculated-coin/15698

£909 delivered

That's a relative bargain.. @Dankanugget jump on this

[Dankanugget]

Just now, James32 said:

That's a relative bargain.. @Dankanugget jump on this

Ok

[Paul]

My commission is 10% for finding good deals though  

Edited July 9 by Paul

[Dankanugget]

6 minutes ago, Paul said:

My commission is 10% for finding good deals though  

I'm on pheasant suppers 

[Dankanugget]

15 minutes ago, Dankanugget said:

I'm on pheasant suppers 

Thanks for advice...still chewing steak at the mo

[Chronos]

As Political Parties Fall, Gold & Silver Will Rise:

https://vongreyerz.gold/as-political-parties-fall-gold-and-silver-will-rise

[BLOOMMAN101]

[bobski]

Current Price

£1,849.50

Live Change

0.00% £0.00

Live high £1,849.50

 

Live low £1,849.50

[Brit2023]

7 hours ago, Dankanugget said:

I'm on pheasant suppers 

Nice! Pigeon or duck tomorrow ?

[katyc]

Great seeing someone young understanding economics and spreading the word about the importance of gold and assets

/as

[m3rlin]

10 hours ago, JamesH said:

Would say £220 assuming London Mint. More if Melbourne or Perth mints as far smaller mintage (esp Perth)

thank you

[BLOOMMAN101]

[Bratnia]

21 hours ago, Chronos said:

As Political Parties Fall, Gold & Silver Will Rise:

https://vongreyerz.gold/as-political-parties-fall-gold-and-silver-will-rise

A big and potentially wrong assumption is that the price of gold will rise if/when the Wests fiat/financial system crumbles

Quote

The world and in particular the West is now entering a period of political and social unrest that signifies the end of a major era. 

As political parties, currencies, stocks, bonds and other bubble assets fall, the indisputable winners will be gold and silver.

The West has made gold also fractional, you can go into the London market and buy or sell as much as you like in total disregard of how much physical gold is available, its a cash settled market. The US Comex gold market can be physical settled, but when there's N times multiples more paper gold than physical gold as there is then a repeated large/fast demand for delivery of physical gold couldn't be met. The recent way that's being addressed is to offer a bonus for settling in cash rather than physical. If a financial war were to occur where large scale demands for physical delivery were to occur one option would be to collapse the price of gold, either via state (US) based large short/selling of paper gold or via rule changes such as reinstating gold as a tier 3 (Basal) asset, central bank book valued at 15% of its value rather than its more recent move to being a tier 1 asset that's valued at 1:1 of its value. Such a move would collapse trading of gold along with its price, central banks might typically start dumping physical gold in favour of other tier 1 assets. If that financial war was lost the US is ... broke, China would rule the world. The US would not transition to that state without a exceptionally strong fight (market manipulation of gold to levels where holding/trading physical gold was at best awkward and the price/value of gold low).

The primary casualty would be the cash based London gold trading market, transitioned over to Singapore where trading requires 1:1 deposit of physical gold before it can be traded, perhaps also with US prohibitions on any gold being held or moved out of the country. No longer a financial instrument, just a relatively inexpensive cosmetic/jewelry metal. Under such circumstances the BRICS that had bought up much gold instead of US Treasury's would have lost out, made themselves relatively poorer, paramount to having written off much of their loans to the US - who in turn would be relatively richer in having such large debts written off.

[Thelonerangershorse]

£1847.35

Just in case anyone here is looking for the gold price.

[Bogart]

Expect a rise now we are in the final.

[HonestMoneyGoldSilver]

7 hours ago, Bratnia said:

A big and potentially wrong assumption is that the price of gold will rise if/when the Wests fiat/financial system crumbles

The West has made gold also fractional, you can go into the London market and buy or sell as much as you like in total disregard of how much physical gold is available, its a cash settled market. The US Comex gold market can be physical settled, but when there's N times multiples more paper gold than physical gold as there is then a repeated large/fast demand for delivery of physical gold couldn't be met. The recent way that's being addressed is to offer a bonus for settling in cash rather than physical. If a financial war were to occur where large scale demands for physical delivery were to occur one option would be to collapse the price of gold, either via state (US) based large short/selling of paper gold or via rule changes such as reinstating gold as a tier 3 (Basal) asset, central bank book valued at 15% of its value rather than its more recent move to being a tier 1 asset that's valued at 1:1 of its value. Such a move would collapse trading of gold along with its price, central banks might typically start dumping physical gold in favour of other tier 1 assets. If that financial war was lost the US is ... broke, China would rule the world. The US would not transition to that state without a exceptionally strong fight (market manipulation of gold to levels where holding/trading physical gold was at best awkward and the price/value of gold low).

The primary casualty would be the cash based London gold trading market, transitioned over to Singapore where trading requires 1:1 deposit of physical gold before it can be traded, perhaps also with US prohibitions on any gold being held or moved out of the country. No longer a financial instrument, just a relatively inexpensive cosmetic/jewelry metal. Under such circumstances the BRICS that had bought up much gold instead of US Treasury's would have lost out, made themselves relatively poorer, paramount to having written off much of their loans to the US - who in turn would be relatively richer in having such large debts written off.

Honestly none of that makes sense to me

You're describing a short squeeze on gold, which would send gold to the moon on a few laps around Pluto.

The west does not control precious metals trading - already 55%+ is Asia-Pacific and that does not mean the other 45% is the USA. The USA is a major producer and important market but it's smaller than the EU + UK. It's also not the largest gold producer, with South America, Canada, Australia, China and Russia being substantially larger gold producers than the USA. Note also the EU central banks/Treasuries own substantially more gold than the Fed/US Treasury

While gold on western markets might be priced in USD and controlled by the COMEX-LBMA cartel, gold is a global commodity with many inputs that are not denoted in USD (vast majority of gold mining and refining is outside the USA). The Moscow-Shanghai exchange is practically divorced from London-New York

In the scenario you outlined above, the value of unallocated paper gold might go to zero but the value of physical gold and allocated gold would go in the opposite direction. If the USA or any other nation put an arbitrary floor on the "free market" price of gold, the free market would sell it to another country and accept Euros, GBP, Yen, oil, wheat or anything else of equivalent market value

When it comes to ETFs or other allocated funds, the rule is already 1:1 in the west. For every ounce of gold sold via allocated funds, there is an ounce of gold sitting in a vault somewhere. There is no reason why that market should abruptly come to a halt. Unallocated gold is a different story though. 

The real reason to own gold is for it to be physically in your custody and NOT tied to the financial system or modern technology. 

[CDH]

20 minutes ago, HonestMoneyGoldSilver said:

If the USA or any other nation put an arbitrary floor on the "free market" price of gold, the free market would sell it to another country and accept Euros, GBP, Yen, oil, wheat or anything else of equivalent market value

Indeed. Everyone sane person would instantly grab every ounce they could and attempt to arbitrage it. Artificially depressing the price of anything anywhere simply ensures that it leaves the country more quickly -- as seems to be happening currently with the flow of silver Eastwards.

[modofantasma]

US CPI at usual time today folks.

Get your popcorn ready and watch your SL get ravaged by spreads and slippage 

For those holding physical gold for the long run.... It will weigh the same and be just as shiny either way 🥱

Edited July 11 by modofantasma

[flyingveepixie]

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Edited July 11 by flyingveepixie