Gold Monitoring Thread £ GBP only

[Dankanugget]

Seatbelt time.

[BLOOMMAN101]

The Federal Reserve in a dramatic move lowered US interest rates by 0.5 percentage points on Wednesday night, warning the economic outlook was “uncertain”.

The Fed cut its lending rate from what was a 23-year high of between 5.25pc and 5.50pc to a lower range of 4.75pc to 5pc.

Edited 21 hours ago by BLOOMMAN101

[James32]

1 hour ago, Dankanugget said:

Seatbelt time.

Where you travelling to?

[BLOOMMAN101]

 

https://www.telegraph.co.uk/us/news/2024/09/18/fed-interest-rate-decision-live-jerome-powell-wall-street/

[MrStacker]

7 hours ago, bazbigfoot said:

will gold prices drop to september 2022 i had just started to buy sovereigns in august that year and was paying £350 to £390 for full and £150 to £185 for half, last ones i bought in august this year were £450 and £225 gold best investment there is 

It's always interesting to look at old records/receipts of bullion purchased over the years. 😃 I miss the 300 quid days let alone the early 2000 rates. It feels like a life time ago that I paid 280 for a full sovereign. It will always hold value and the only way is up. Keep stacking bit by bit no pressure 😎

As for if we'll see the old prices again? I don't think so. Even low 400s per a full sovereign seems unlikely at the current rate. I just hope it doesn't creep over the 500 mark sooner then later...

[Dankanugget]

10 minutes ago, James32 said:

Where you travelling to?

Emerald state

[Dankanugget]

1 minute ago, Dankanugget said:

Emerald state

Get me some stargazy pie...or commonly known as fish head cake

 

[Bratnia]

45 minutes ago, BLOOMMAN101 said:

The Federal Reserve in a dramatic move lowered US interest rates by 0.5 percentage points on Wednesday night, warning the economic outlook was “uncertain”.

The Fed cut its lending rate from what was a 23-year high of between 5.25pc and 5.50pc to a lower range of 4.75pc to 5pc.

So far looking like both Pound and Gold (in Pounds) jumped up, battled briefly - Pound won, gold in Pounds sat back down again.

Bank of England's turn tomorrow, looking like they'll hold rates. The government directional move towards handing out large wage increases across the public sector is inflationary. 

So perhaps gold up in USD, level in Pounds, US and UK base rates equalised, but where recently there's perceived better value in UK stocks than either Euro or US stocks.

Edited 20 hours ago by Bratnia

[BLOOMMAN101]

10 minutes ago, Bratnia said:

So far looking like both Pound and Gold (in Pounds) jumped up, battled briefly - Pound won, gold in Pounds sat back down again.

Dollar chart

[Chronos]

De-Dollarization: China Now Uses Yuan in Over Half of Bilateral Trade, Dollar's Share Fell from 80% to Under 50%:

https://geopoliticaleconomy.substack.com/p/china-yuan-half-bilateral-trade-dollar

[HerefordBullyun]

1 hour ago, BLOOMMAN101 said:

 

https://www.telegraph.co.uk/us/news/2024/09/18/fed-interest-rate-decision-live-jerome-powell-wall-street/

Told you all - Bully knows!