Gold Monitoring Thread £ GBP only

[James32]

2 hours ago, Chronos said:

Huge Airstrikes Rock Densely-Populated Beirut Suburb As Israel's Retaliation Begins

Ffs Beirut never gets it easy.

[Darr3nG]

12 minutes ago, Paul said:

keep buying from Westminster mint and Harrington and Byrne on my monthly £1000 recommendation direct debit buys

Keep preaching that faith!

[BLOOMMAN101]

5min chart

Edited July 30 by BLOOMMAN101

[Brit2023]

19 hours ago, Bratnia said:

I opine it to be appalling that one single pensioner on a £11K state pension and a £1K occupational pension in addition to being excluded from pension credits are to be further slapped with no longer having winter fuel allowance payments, whereas another on just the £11K state pension gets £3.3K additional pension credits that also opens up other further benefits such as Council Tax reductions. The last government exported Covid into care homes, killed off 100,000+ elderly/vulnerable; This government is looking to freeze to death the next tranche. A society is judged how much respect/care it expresses towards its elderly/vulnerable.

I didn’t hear that in the announcement, where did you get the £1k idea from?

[silversky]

3 hours ago, James32 said:

Ffs Beirut never gets it easy.

The Druze and Christians are celebrating quietly.  If you know you know.

[modofantasma]

1881

[bobski]

Current Price

£1,884.62

Live Change

0.05% £+0.91

Live high £1,884.81

 

Live low £1,883.33

[modofantasma]

Just now, bobski said:

Current Price

£1,884.62

Live Change

0.05% £+0.91

Live high £1,884.81

 

Live low £1,883.33

Fine then 🤣

[Orpster]

And to save @modofantasma the bother:

[modofantasma]

13 minutes ago, Orpster said:

And to save @modofantasma the bother:

Might get to 1888 soon

[Paul]

59 minutes ago, bobski said:

Current Price

£1,884.62

Live Change

0.05% £+0.91

Live high £1,884.81

 

Live low £1,883.33

Wonger was incorrect it would appear 

[bobski]

17 minutes ago, Paul said:

Wonger was incorrect it would appear 

I think he was talking about the price of a bullion sovereign

[Paul]

1 hour ago, bobski said:

I think he was talking about the price of a bullion sovereign

£500 a sovereign soon 

[Bratnia]

10 hours ago, Brit2023 said:

I didn’t hear that in the announcement, where did you get the £1k idea from?

Could be savings interest, or a small pension a widow might inherit from her partner i.e. at £11K you can get Pension Credits, at £12K you can't. Whilst Pension Credits add £3.3K along with other benefits (Council Tax, TV licence, whatever) and still get the winter fuel payment where as another on £12K doesn't.

[9x883]

1881 palindromic prices!

[Paul]

£1900 before end of Friday 

[Darr3nG]

4 minutes ago, Paul said:

£1900 before end of Friday 

Moon, or just Lagrange point?

[Paul]

9 minutes ago, Darr3nG said:

Moon, or just Lagrange point?

Bit of both 

[silversky]

L2 is beyond the moon...

[Darr3nG]

2 minutes ago, silversky said:

L2 is beyond the moon...

Damn 3-body problem  

[Bratnia]

36 minutes ago, Bratnia said:

Could be savings interest, or a small pension a widow might inherit from her partner i.e. at £11K you can get Pension Credits, at £12K you can't. Whilst Pension Credits add £3.3K along with other benefits (Council Tax, TV licence, whatever) and still get the winter fuel payment where as another on £12K doesn't.

If you've enough savings/pension then yes the WTF £100 is largely irrelevant.

So you retire at 67, with a £10K/year state pension, and have £300K saved up that you drop into a 50/50 stock/gold asset allocation and apply a 30 year 3.33% SWR. A plan to see you through to age 97 if you live that long.

3.33% SWR = you draw 3.33% initially as the first years spending, so £300K of savings, draw (rounding a little) £10K at the start for the first years spending, so you have £10K state pension plus £10K from savings.

After a year you increase that SWR value, £10,000, by inflation and draw that amount as the years spending. If inflation is 4% you increase the £10,000 to £10,400 ... and do that every year. Your state pension might also increase by inflation, to £10,400.

In effect you draw your inflation adjusted money out over 30 years, had the return of your inflation adjusted money.

For the initial 50% stock I assumed FCIT, a global stock Investment Trust fund. Rather than drawing the entire years money at the start of the year I also assumed you drew 1/12th at the start of each month. For the stocks I also assumed that dividends were automatically reinvested to buy more shares. Costs and taxes aren't factored in.

Comparing drawing monthly income from whatever of stock or gold was the higher value at the time and otherwise leaving that as-is, to where you draw the income and rebalance stock/gold back to 50/50 equal amounts/weightings, and the former was generally better, and that's before accounting for the additional costs of rebalancing the portfolio to 50/50 each month.

Generally that ended 30 years with at least (in nearly all cases, a little less in some cases) of your inflation adjusted start date portfolio value still available, more often multiples more. A nice legacy for heirs, or some savings still available if you live beyond age 97. Cake and eat it, the return of your inflation adjusted money via yearly installments for 30 years, and still ending with the cake still available (often more).

Why was the easier/less expensive choice the better, just drawing the income from whatever of stocks or gold had the higher value at the time, better than rebalancing back to 50/50 regularly? Because the non rebalanced tended to ride the winning asset more. In some cases you started with 50/50 stock/gold, but ended 30 years later with 90/10 stock/gold, broadly averaged 70/30 stock/gold - over times when stocks did well, so was better than constant 50/50 stock/gold.

In practice you don't have to be rigid about the actual withdrawals, spend using your credit card and near month end sell enough of either stocks or gold, whichever has the higher value at the time, to cover paying off that credit card bill. Providing that's not too much you'll likely be fine, at least that is if things continue along similar lines as in the past.

Some might get that £300K savings perhaps from downsizing, as they retire sell the larger family home in a city area for a smaller retirement home in a less expensive area. £600K city three bed for a 2 bed £300K country cottage. With combined £20K/year from state pension and savings that might be enough even without winter fuel payments, and also leave a cottage and some savings for heirs (or cover the cost of late/end of life care/nursing).

[bazbigfoot]

i think i'm becoming obsessed with gold when i first came on this forum the only books i had read were the beano, dandy, and glasses guide then i read the sovereign and its golden antecedents bought of ebay for few pounds i could'nt put it down and now i've wore my eyes out i just cant stop i think iv'e got gold fever , does anyone know the symptoms ?

[Tn21]

@bazbigfoot what would you say is the best one of the lot ?

[Paul]

1 hour ago, bazbigfoot said:

i think i'm becoming obsessed with gold when i first came on this forum the only books i had read were the beano, dandy, and glasses guide then i read the sovereign and its golden antecedents bought of ebay for few pounds i could'nt put it down and now i've wore my eyes out i just cant stop i think iv'e got gold fever , does anyone know the symptoms ?

I'm not as clever as some here with my expansive library of literary classics to learn from  

 

[Zhorro]

Is the ticker working?  Or is someone trying to supress the price of gold???

It's £1887.77 on BBP!