Gold Monitoring Thread £ GBP only

[goldmember44]

I'm thankful for the little "respite".. since if the price will go up too fast, without any retrace, then I probably won't be able to add more gold to my "stack" in the near future... so, now we can still load up with relative ease  Longer term, I'm definitely bullish on gold (and silver), and of course it always acts as a wealth retainer in times of any possible disaster or currency devaluation. We're not out of the woods yet in the UK with this Brexit drama...

[Kookaburracollector]

NFP came in low so gold should pick up again...

[sixgun]

11 minutes ago, Kookaburracollector said:

NFP came in low so gold should pick up again...

This is why gold was taken down yesterday - ahead of poor NFP figures. i have seen this plenty of times before. Certainly in silver, price would have gone through the $20 handle which would have drawn more attention to the Devil's metal. 

Edited September 6, 2019 by sixgun

[Kookaburracollector]

Will be interesting to see what the ECB gets up to later this week..Gold is struggling, and needs a boost from somewhere..I guess the big one is on the 18th September, when the Fed have an opportunity to shake the markets up a little..Trump will explode if there is no rate cut!

Currently sat predominantly in cash, and sat on the fence observing...sometimes the hardest thing to do is wait and do nothing!

[goldmember44]

WHeeee!!!! Here we go again!

[AndrewSL76]

ANYONE GOT A NOSE BLEED YET?

[5huggy]

17 minutes ago, goldmember44 said:

WHeeee!!!! Here we go again!

[Paul]

[Smoggy]

Probably a stupid question but does the Gold Price generally follow basic trading rules such as Support, Resistance, Fib Retracement?

[sovereignsteve]

56 minutes ago, Smoggy said:

Probably a stupid question but does the Gold Price generally follow basic trading rules such as Support, Resistance, Fib Retracement?

A lot of people do rely on these things but in my experience, gold tends not to be as amenable to charting as forex, stocks and other such instruments.

[HawkHybrid]

1 hour ago, Smoggy said:

Probably a stupid question but does the Gold Price generally follow basic trading rules such as Support, Resistance, Fib Retracement?

 

yes, it's no accident that gold futures dropped from

~$1530.(the same broad level that was support at

the end of august)

 

HH

[Kookaburracollector]

Well the ECB rate cut rally didn’t last long..

Buy the rumour sell the news springs to mind...

Like @Frenchie (on a different thread))I think the trend is lower,I’m hoping to buy back into ETF’s at 1450.That said, I will probably start building some sort of  position prior to the 18th, regardless of price...I don’t know anyone with a crystal ball that works for gold..which is a pity!

Edited September 12, 2019 by Kookaburracollector

[AndrewSL76]

Nose bleeds are clearing up, then. 

[5huggy]

[AndrewSL76]

9 minutes ago, 5huggy said:

If anyone on that there roller coaster collects sovereigns, you want to be underneath for the downpour!!

[KDave]

Money going into stocks, new all time highs coming for index investors. The market like a trained dog remembers what happened the last time the QE bell rang. 

[5huggy]

1 minute ago, KDave said:

Money going into stocks, new all time highs coming for index investors. The market like a trained dog remembers what happened the last time the QE bell rang. 

I think the trainer was called "PAVLOV"! 😉

[KDave]

Just now, 5huggy said:

I think the trainer was called "PAVLOV"! 😉

Yellen did look a bit like him but with more beard 

[5huggy]

[5huggy]

Seriously though - - Volatility attracts the herd and will send us "holders" Higher!

 

Edited September 12, 2019 by 5huggy

[Caratacus]

Sorry to change the discussion slightly as the price has had a major 6hour spike, but wondered if anyone had used Malcolm Ellis Coins; and if so were they reliable? and would you recommend them to your Forum friends?

https://www.malcolmelliscoins.co.uk/gold-and-other-coins-for-sale.html

[Miganto]

Sorry for the potentially basic question.

I've always been checking the price of gold in £ as i'm from England, I was under the impression the prices between currencies were just the exchange rate differences.

Can someone explain why, in the past 2 hours, the price in £ has been dropping, yet the price in $ has been increasing?  Are they actually seperately valued and you can actually make money off of buying it in 1 currency and selling it in another, or has the value of the 2 currencies changed so greatly in the last 2 hours?

[AuricGoldfinger]

Gold is yo-yoing and so is the Pound against the dollar. 

This is why the two don’t always correlate. Gold in GBP has reached ATH but In dollars there’s still some way to go. This is because the pound is so weak at the moment.

[Miganto]

So it is just a £ to $ fluctuation that caused this?  Lovely, I thought as much but wanted some confirmation from you fine folks.

[5huggy]

23 minutes ago, Miganto said:

Are they actually seperately valued and you can actually make money off of buying it in 1 currency and selling it in another, or has the value of the 2 currencies changed so greatly in the last 2 hours?

That basically is how futures traders in "PAPER " pm's can make a packet and manipulate pricing - - I know cos I do! 😉

You are quite right as to how the price in different FX can vary considerably

check these out!

https://www.usagold.com/cpmforum/goldpricemajorcurrencies/