Gold Monitoring Thread £ GBP only

[Chronos]

Core Consumer Prices Hit New Record High - Up For 50th Straight Month:

https://www.zerohedge.com/personal-finance/core-consumer-prices-hit-new-record-high-50th-straight-month

[Dankanugget]

37 minutes ago, Bratnia said:

Shortly after buying my first place mortgage interest rates rose to peak at more than 15%, which was more than 100%+ of my wage. Had to move back in with parents and rent the place for a while, along with working much overtime. Negative equity was common - property price/value had declined to being considerably less than the then market value, so selling would still have left you in considerable debt. Many had no other choice than to sell, those that manage to struggle through eventually saw things work out OK.

Very true my friends flat in the mid 99s was 15 % mortgage but the price was a lot lower. Keep going if you can but....house prices 2to 3 years ago were and still are crazy.

Remortgage now is a killer 

[Chronos]

One Step Away From The Biggest Oil Shock In History:

https://internationalman.com/articles/one-step-away-from-the-biggest-oil-shock-in-history/

Mild inflation reading offers Fed a 'green light' to cut rates in September:

https://finance.yahoo.com/news/mild-inflation-reading-offers-fed-a-green-light-to-cut-rates-in-september-142425506.html

Edited August 14 by Chronos

[pricha]

55 minutes ago, Chronos said:

One Step Away From The Biggest Oil Shock In History:

https://internationalman.com/articles/one-step-away-from-the-biggest-oil-shock-in-history/

Mild inflation reading offers Fed a 'green light' to cut rates in September:

https://finance.yahoo.com/news/mild-inflation-reading-offers-fed-a-green-light-to-cut-rates-in-september-142425506.html

Why worry? I'm sure Milliband will have enough windmills to keep the lights on.

[James32]

£1903

Get out now!

[pricha]

8 hours ago, burns718 said:

Where do people think the price of gold and silver is actually heading by the end of this year then? 

To da moon. Well if I'm selling it'll drop.  If I'm buying it'll go up.

Edited August 14 by pricha

[pricha]

4 hours ago, Gruff said:

It's as I see it. I hope I'm wrong, but there is already escalating poverty and more full time workers depending on food charities and government hand outs. 
The government is also looking at ways to fill the budget deficits and that will be further taxation and pain for people. We are resilient, but can only be pushed so far. 

Then we turn the focus back on those that have caused this, the governments and bankers. They don't like the focus, so you get what we have at the moment. 

It'll be the Tories fault for the next 10 years. After that it'll run a bit  thin. 

Edited August 14 by pricha

[Dankanugget]

1 hour ago, James32 said:

£1903

Get out now!

Buy those deals

[GoldenGriffin]

10 hours ago, burns718 said:

Where do people think the price of gold and silver is actually heading by the end of this year then? 

Higher, but not in the way you might think...

Spot gold price - it has strong indications to be much higher, as most of us, I believe, would think....

However, after the RM releasing the Seals in July 2024 and charging tax, I'm wondering whether we'll see new changes coming into effect in the next budget?  Tax on PM's / on gold coins?

If that happened, in the short term it would slow down private gold purchases, but if later, if it was publicly announced that gold was to back a new digital currency / financial system, the private gold purchass would pick up again, very quickly.  Printing money would guarantee a higher gold price to extinguish the debt and thus increase the value of your gold holdings.

If new tax rules come into effect straight away, without notice, we'd all wish that we had bought more gold before the changes came out!

Edited August 14 by GoldenGriffin

[modofantasma]

22 hours ago, HerefordBullyun said:

Did you know Trump signed an executive order during his time as president to mine PMs on the moon? There is gold silver Pl and titanium on the moons surface albeit its gonna face some challenges.

But what do you say to all the doubters and conspiracy theorists out there that ask.... Does the moon really exist? 

Edited August 15 by modofantasma

[AaaGee]

1 minute ago, modofantasma said:

But what do you say to all the doubters out there that ask.... Does the moon really exist? 

Look up.

[Darr3nG]

1 minute ago, AaaGee said:

Look up.

Nice ceiling

[James32]

1 minute ago, AaaGee said:

Look up.

Nope can't see it from the attic. False news

[AaaGee]

Sorry.

Step outside and...

[ZRPMs]

5 minutes ago, modofantasma said:

11 hours ago, HerefordBullyun said:

Did you know Trump signed an executive order during his time as president to mine PMs on the moon? There is gold silver Pl and titanium on the moons surface albeit its gonna face some challenges.

But what do you say to all the doubters out there that ask.... Does the moon really exist? 

[James32]

2 minutes ago, AaaGee said:

Sorry.

Step outside and...

Step outside the attic? You want me to either punch a hole through the felt and tiles or fall through the hatch? You are a monster.

[AaaGee]

3 minutes ago, James32 said:

Step outside the attic? You want me to either punch a hole through the felt and tiles or fall through the hatch? You are a monster.

Step outside.

No punching and no falling through holes required 😄

[James32]

1 minute ago, AaaGee said:

Step outside.

No punching and no falling through holes required 😄

Na, I know your game..you're in my garden and planning to scare me. No thanks. 

[Bratnia]

14 hours ago, GoldenGriffin said:

Higher, but not in the way you might think...

Spot gold price - it has strong indications to be much higher, as most of us, I believe, would think....

However, after the RM releasing the Seals in July 2024 and charging tax, I'm wondering whether we'll see new changes coming into effect in the next budget?  Tax on PM's / on gold coins?

If that happened, in the short term it would slow down private gold purchases, but if later, if it was publicly announced that gold was to back a new digital currency / financial system, the private gold purchass would pick up again, very quickly.  Printing money would guarantee a higher gold price to extinguish the debt and thus increase the value of your gold holdings.

If new tax rules come into effect straight away, without notice, we'd all wish that we had bought more gold before the changes came out!

The reason tax was dropped was that other EU countries that applied no tax saw their trading soar, the countries that applied tax lost out. Adding tax in the UK, seeing the LBMA move into a EU country instead, would be net negative for the UK. Not that that means anything to Labour though, who have a habit of directing towards negative outcomes (such as 1968 thinking application of a 130% tax rate would bring in more tax revenues, it didn't, capital just flighted the country). In some quarters whilst within the EU gold was the UK's largest export element to the EU.

Quote

LBMA refiners oversee the annual production of 5,000 tonnes of gold and 30,000 tonnes of silver via OTC trading. Around $25 billion USD worth of gold transactions are finalised daily within the global OTC market, with London acting as its primary hub.

https://www.chards.co.uk/guides/vat-free-silver-and-platinum/293

Seeing a likely transition to few buying physical gold/silver within the UK and the loss of refining and London trading !!!

Another factor is that tax would promote smuggling. Export gold, reclaim the tax ... and the gold mysteriously reappears back in your safe so you export it again, and again ... The UK's border force is a joke, can't even stop blatant people smuggling other than token amounts that are supposed to be suggestive that something is being done.

Yet another factor is that by making gold/silver easily obtained/held by the public reduces the need for the state/Treasury to store large quantities. Fundamentally the Treasury money is the peoples money and storing the nations gold/silver via individuals is perhaps more secure than a central Treasury store. The UK is custodian to around 5000 tons of gold, the second largest to the US's 8000 tons, add on all of the gold held by individuals and at least conceptually the UK "has" a large amount of gold. Kill off that arrangement by dissuading individuals buying/holding gold and that puts the country into jeopardy.

Edited August 15 by Bratnia

[Bratnia]

1 hour ago, modofantasma said:

But what do you say to all the doubters out there that ask.... Does the moon really exist? 

Which one. Kamo’oalewa? Or THE Moon?

[Thelonerangershorse]

UK inflation starts to increase,

https://www.bbc.co.uk/news/articles/ceq59pqr9qxo

In unrelated news, train drivers settle for a 15% pay rise.

https://www.bbc.co.uk/news/articles/cp9rxdrj713o

 

 

 

[Bratnia]

12 minutes ago, Thelonerangershorse said:

UK inflation starts to increase,

https://www.bbc.co.uk/news/articles/ceq59pqr9qxo

In unrelated news, train drivers settle for a 15% pay rise.

https://www.bbc.co.uk/news/articles/cp9rxdrj713o

To put the UK firmly on a economic cliff edge glide path Rachel Thieves is planning to impose repellent capital gains tax adjustments, and may then later wonder why the UK private sector goes into decline whilst the cost of the public sector rises. When the 1% that pay a third of the tax flight the country to green pastures the rest are left with having to pay 50% more in taxes just to fill that hole, and before any additional waste spending.

That's socialism for you, seemingly has to be endured once per generation just to remind those that haven't experienced it themselves just how bad/crazy things can get.

Edited August 15 by Bratnia

[Chronos]

19 minutes ago, Thelonerangershorse said:

UK inflation starts to increase,

https://www.bbc.co.uk/news/articles/ceq59pqr9qxo

Sanjay Raja, chief UK economist at Deutsche Bank Research, said: "A September rate cut should no longer be off the table. And it’s entirely conceivable to think that we could get multiple more rate cuts this year."

[Chronos]

Losing Fiat Faith: Western Currencies Are On A Path Of Secular & Permanent Debasement:

https://archive.is/TLNfw

[Chronos]

Western Battle Tanks Are Invading Russia:

https://www.zerohedge.com/geopolitical/western-battle-tanks-are-invading-russia-sky-news