Gold Monitoring Thread £ GBP only

[Gruff]

8 minutes ago, James32 said:

And closer to £1000 than £4000

Alright negative Norman. Are you secretly Wonga hoping for £400

[Paul]

11 minutes ago, James32 said:

And closer to £1000 than £4000

Reported 

[GoldenGriffin]

Discussions in gov. regarding changes in the way council tax will be calculated, using the value of your property to determine what you should pay at circa 0.5% of your property value.

If there was a severe housing "crash", I think they would perceive the new changes in calculating council tax as a "sweetener" to take some of the edge off.

Imagine getting your council tax bill every year and the bill reducing!

If there was a severe crash, the value in the market doesn't just disappear - I think the value will drip feed into gold and we'll see gold go much higher.

If happens, i think interest rates will be high against much lower property values, so banks don't lose out on making their profits.

To be implemented by the end of October for April next year? Let's see!

[Gruff]

6 minutes ago, GoldenGriffin said:

Discussions in gov. regarding changes in the way council tax will be calculated, using the value of your property to determine what you should pay at circa 0.5% of your property value.

If there was a severe housing "crash", I think they would perceive the new changes in calculating council tax as a "sweetener" to take some of the edge off.

Imagine getting your council tax bill every year and the bill reducing!

If there was a severe crash, the value in the market doesn't just disappear - I think the value will drip feed into gold and we'll see gold go much higher.

If happens, i think interest rates will be high against much lower property values, so banks don't lose out on making their profits.

To be implemented by the end of October for April next year? Let's see!

They wouldn't lower the amount, they'd pause it at that level until the house prices picked up and exceeded that level again. There is no way they would want people to have more surplus FIAT to spend.

[James32]

11 minutes ago, Gruff said:

Alright negative Norman. Are you secretly Wonga hoping for £400

Aren't we all, at heart?

[BLOOMMAN101]

Roll up roll up for the Mystery Tour
Roll up roll up for the Mystery Tour

Roll up
That's an invitation
Roll up for the Mystery Tour
Roll up
To make a reservation
Roll up for the Mystery Tour

The Magical Mystery Tour
Is waiting to take you away
Waiting to take you away

 

[artalien]

The war drums are getting louder!

[Paul]

Silver, not to be forgotten is also completely smashing 🔨 ⚒️ it like a total boss MOFO

Nearly knocking doors down of the nauseatingly dizzy heights of nearly £23oz ! now 

[Orpster]

1 hour ago, James32 said:

And closer to £1000 than £4000

And closer to nothing than, erm, some other number.  I'm going to say £4000 🤷‍♂️

Which I now realise is actually the same number, ffs

Edited Friday at 08:36 by Orpster

[Lyrinn]

Oh no, it's dipped £0.23!

@Paul, abort the moon landing - £2,000/oz is a no-go for today!

[Paul]

4 minutes ago, Lyrinn said:

Oh no, it's dipped £0.23!

@Paul, abort the moon landing - £2,000/oz is a no-go for today!

Buy the dip ! 

Edited Friday at 09:03 by Paul

[Thelonerangershorse]

2 hours ago, James32 said:

And closer to £1000 than £4000

And T-Rex was closer to owning a mobile phone than meeting a Brontosaurus,

which is also not a useful fact.

[Lyrinn]

2 minutes ago, Thelonerangershorse said:

T-Rex was closer to owning a mobile phone than meeting a Brontosaurus.

[Chronos]

4 hours ago, bobski said:

SELL GOLD BRITANNIA

spend it on silver

sell silver

buy more silver

sell silver

buy more silver

sell silver

buy more silver

sell silver

buy more silver

sell silver

buy more silver

sell silver

buy more silver

sell silver

Reported.

Edited Friday at 09:56 by Chronos

[PapaLazarou]

3 minutes ago, Thelonerangershorse said:

And T-Rex was closer to owning a mobile phone than meeting a Brontosaurus.

Damn right...

[Thelonerangershorse]

1 hour ago, Paul said:

Silver, not to be forgotten is also completely smashing 🔨 ⚒️ it like a total boss MOFO

Nearly knocking doors down of the nauseatingly dizzy heights of nearly £23oz ! now 

FYI, if this holds, I'll probably be running an auction tonight to dump the last of my non CGT stuff before the allowance drops to zero in the budget.

[Paul]

46 minutes ago, Thelonerangershorse said:

FYI, if this holds, I'll probably be running an auction tonight to dump the last of my non CGT stuff before the allowance drops to zero in the budget.

Wouldn't soil my hands with such peasants metal, one has personal standards you know 

[Chronos]

2 hours ago, Paul said:

Silver, not to be forgotten is also completely smashing 🔨 ⚒️ it like a total boss MOFO

Nearly knocking doors down of the nauseatingly dizzy heights of nearly £23oz ! now 

Reported.

[James32]

£1957

[Joshua723]

It'll be at moon landing year soon.

[James32]

Just now, Joshua723 said:

It'll be at moon landing year soon.

Which year?

[Bratnia]

4 hours ago, GoldDiggerDave said:

At what price per oz will give you and your family a significant quality of life change?   This is different for all people,  for example if you have 180k left on your mortgage and you hold 20 oz of gold (is this a reasonable stack?)  you need gold at £9000 per oz to clear your mortgage or gold at 4.5k if you are holding 40oz .    In the mean time  180k debt most today would be paying 9.9k per year in interest payments servicing that debt per year while slowly compounding that down depending on the term time.   

If you have debt,  is that debt that you are servicing per year greater or less then than your gold sack is rising? (dependant on the size of each)    Its great to aim or have a positive offset here,  those who have held for a good number of years are likely to be quids in and have a positive offset ie their  gold holdings is increasing more per year than the debt if any they are servicing.

New stackers......the current financial challenges and inflation is going to make it far harder of those to buy and hold gold going forward,  do most people have a spare 2k+ per month for 1oz of gold or even £460+ for a sov?    its a bigger mountain to climb in 2024 than it was in 2017 for example as we are in a totally different financial climate.   The cost servicing 180k  back in 2017 were only likely to be paying around 2k per year in interest payments it  was £197 to buy a sovereign and around 1k per oz.  

People say buy in the dip, don't disagree however some don't take into account their personal circumstances and the financial climate they are in.  

There will be a point  were people are holding gold and driving down debt were it tips positively in their favour where there debt liabilities become less than gold is rising.  (biggest impacts here is the variable interest rates and term time )   Would be an interesting  for a gold stacker with a mortgage/debt to look at.  

"Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.” ― Albert Einstein

50/50 US stock/gold over the last 10 years (in GB Pound terms start of 2014 to year end 2023) has yielded a 11.6% annualised total return. Adding additional savings would have enhanced that. That's far larger/faster than mortgage interest rates.

With a mortgage compounding works in your favour. Buy a home and the mortgage interest is initially (typically) high. As the property price rises in reflection of Pound debasement inflation so the mortgage becomes a relatively smaller percentage/proportion of the property value. Relatively small initial savings compound/grow, typically reach a point where the growth rate from the portfolio value/size is greater than the amount of additions/savings.

If you're paying £10K/year in interest on a mortgage that's initially no different to not be buying but renting instead for £10K/year. After a number of years however when the mortgage interest may still be £10K/year, a renter might be paying £15K/year, whilst your wages/income might have risen 50%, as might the house value.

Older people tend to be richer due to more years of having saved/compounded. They need that greater wealth because their human capital declines - may not be physically able to go out to work. Human capital rich, low financial capital may envy the financially capital rich, human capital poor, however one day they too may have transitioned to that state and similarly envy the younger generations.

The general suggestion is that once you have 25 times yearly spending in liquid assets (stocks/gold), alongside owning your own home (where maybe you downsized after the kids had flown the nest), then you have enough to retire. More so if supplemented with a state and occupational pensions. 4% SWR https://www.bankrate.com/retirement/using-safe-withdrawal-rate-method/ Financial independence. There is no particular price of gold per ounce where that occurs. Could even be where gold had performed poorly - halved in price, stocks did well, where repeated selling of some stocks to buy more ounces of gold had quadrupled the number of ounce you held in your safe.

[KRO]

28 minutes ago, James32 said:

Which year?

now look what you've done
poor chaps only been here five minutes and your asking to use his obvious expertise😀

[Bratnia]

1 hour ago, Thelonerangershorse said:

FYI, if this holds, I'll probably be running an auction tonight to dump the last of my non CGT stuff before the allowance drops to zero in the budget.

Reasonable taxes are fair. Punitive taxes are legalised theft - that might otherwise have been considered as illegal within a fair system. CGT and IHT are both optional taxes. In every case where a state pushes extremes (punitive taxation) financial engineering adapts and more often results in the state receiving less than under fair/reasonable taxation. It may not be necessary to let the tail wag the dog outside of utilising the yearly CGT allowance amount - flog some of it to yourself to rebase to a higher cost basis.

[Bratnia]

55 minutes ago, Joshua723 said:

It'll be at moon landing year soon.

Luna 2 (first human made object to land on the moon in 1959) or Apollo 11 (1969 first man to land on the moon)?