Gold Monitoring Thread £ GBP only

[gazer]

In my humble opinion keep if you can afford to, sell obviously if you're desperate for funds. Keep looking for bargains, my one absolute is buy scrap precious metal for a rainy day as you can then keep your your coins ext. The price will keep moving in my opinion like a escalator. The good thing about scrap metal you are ready to sell to a dealer if desperate.

Cheers gazer.

[sixgun]

Another OTH for gold in Sterling. Heading for £1500.

[mr-dead]

just keeps going up, something up with the USD price too

 

Edited September 3, 2019 by mr-dead

[KDave]

Looks parabolic to me I don't see how this move is positive for gold long term. Puts 2011 blow off top to shame. 

[vand]

this is nowhere near a parabolic move.

The current spot price is only 15.3% above the 200dma.

That is not even very extended for a historic market. You can expect several +20% readings at each stage of the bull market before a final blowoff top where there will be very clear warning signs - last time it was very clear when silver quickly went from $20 to $50.

We are technically overbrought, but a common characteristic of strong bull markets is that they can stay overbrought for a long time before a correction.

Edited September 3, 2019 by vand

[KDave]

True looking back at the percentage gained per year in USD its 20-30% jumps in most years since the start of the last bull, this year we are up 25% in GBP and only 18% in USD since the start of the year, some more to go perhaps.

Where is the consolidation, where are the pullbacks - still to come. If we get to £1500 without stopping I will take that as a clear warning sign.

[DarkChameleon]

4 hours ago, KDave said:

True looking back at the percentage gained per year in USD its 20-30% jumps in most years since the start of the last bull, this year we are up 25% in GBP and only 18% in USD since the start of the year, some more to go perhaps.

Where is the consolidation, where are the pullbacks - still to come. If we get to £1500 without stopping I will take that as a clear warning sign.

That's because some of the gains in Pounds is from the fall of the Pound and not the rise of the Dollar.

[vand]

6 hours ago, vand said:

this is nowhere near a parabolic move.

The current spot price is only 15.3% above the 200dma.

That is not even very extended for a historic market. You can expect several +20% readings at each stage of the bull market before a final blowoff top where there will be very clear warning signs - last time it was very clear when silver quickly went from $20 to $50.

We are technically overbrought, but a common characteristic of strong bull markets is that they can stay overbrought for a long time before a correction.

Hmm, actually, on reviewing this, I may have overstated this rgold indicator. 15% can be considered extended, and 20% is quite rare.

Here's an article from the last bull market: https://www.mining.com/gold-overbought/

(incidentally, rgold readings of -5% or lower look like excellent entry points)

Edited September 3, 2019 by vand

[HawkHybrid]

21 hours ago, sixgun said:

Another OTH for gold in Sterling. Heading for £1500.

 

why not £1400 hitting the common 38.2% expanded

wave b ?

 

HH

Edited September 4, 2019 by HawkHybrid

[5huggy]

Well were are away off UP again!

[AndrewSL76]

It just dropped 24 from when I last looked...

Royal Mint Bullion had it at:

METAL	BUY	SELL	CHANGE
Gold	£1,236.40	£1,240.89	(£23.90)-1.90%

[Paul]

8 minutes ago, AndrewSL76 said:

It just dropped 24 from when I last looked...

Royal Mint Bullion had it at:

METAL	BUY	SELL	CHANGE
Gold	£1,236.40	£1,240.89	(£23.90)-1.90%

sell sell sell - the bull market is over - sell now it will be £700oz again a week tuesday

[AndrewSL76]

1 minute ago, Paul said:

sell sell sell - the bull market is over - sell now it will be £700oz again a week tuesday

HAHA!!!

---

Added 0 minutes later...

Nah, mate. I am continuing to buy. I must be MAD...

[Martlet]

And silver down over 4%.  Whats Trump said?

Jokes aside, appears positive US employment data. 

Edited September 5, 2019 by Martlet

[AndrewSL76]

It's the effect of the moves in Parliament and the ease at which the bill is getting through the Lords. Give it a week with the ongoing Brexit nonsense continuing to float around in the air and it will hit over 1300. (I hope!)

Here is the current (including silver in light of @Martlet's comment:

METAL	BUY	SELL	CHANGE
Gold	£1,229.13	£1,233.58	(£31.17)-2.47%
Silver	£15.16	£15.22	(£0.74)-4.65%

[AndrewSL76]

Would love Silver to get back down to the 12 mark. I was saving for 100oz bar and it totally went nuts just as I was nearly there!!!!

[DarkChameleon]

Good time to buy today,it always needs a breather...make $1 an ounce...might not see that happen again...back up the trucks people.

[Kookaburracollector]

Well, no fecker predicted that one coming...whatever method you use..when someone dumps 40 tonnes of paper gold on COMEX in 2 minutes, this is what happens...no charting method can accommodate this. Physical gold is a derivative of the paper market = crazy times!

[1817Karl]

Gold is dropping faster than an Aussie Gold Hunters bank balance, is this the start of a move down to £1100...

[Tickety]

A correction and a bit of profit taking, I think it will slowly start to climb again, there more dramas on the world stage to come.

[5huggy]

27 minutes ago, 1817Karl said:

down to £1100...

🤣

[HighlandTiger]

it's all going Pete Tong.

 

[5huggy]

5 minutes ago, HighlandTiger said:

it's all going Pete Tong.

 

Lower it comes back to increases - purchasing period!😉

[richatthecroft]

38 minutes ago, 1817Karl said:

Gold is dropping faster than an Aussie Gold Hunters bank balance, is this the start of a move down to £1100...

Who know's Karl, wish I had a crystal ball but anything is possible given the regional uncertainty, leadership debacles and conflict worldwide, maybe a retrace below £1100?  Around a year ago Gold was trading at around £900- maybe this price is on the horizon?  

Forecasts point to an upcoming Gold bull market and I suspect that this price shake is purely down to traders wanting to buy more Gold to play with.   

The w*^%ers are running scared from the stock market and want Gold to trade for their next fast buck- I think the pump and dump merchants are greedily feasting on PM's at the minute and what better way to buy more Gold than make waves and let fear drive sales.  

The w*&n@ers are not getting any of my Gold.

 

Edited September 6, 2019 by richatthecroft
Typo

[5huggy]

3 minutes ago, richatthecroft said:

I think the pump and dump merchants are greedily feasting on PM's at the minute and what better way to buy more Gold than make waves and let fear drive sales.  

Yes - quite right!

who (in their right mind)   would pay £ XXXX for a 2002 PF70 NGC slabbed HALF SOVERIEGN!!!

Sit down and take deep breath before the X - figure is revealed in 10 mins!!! 😉