Gold Monitoring Thread £ GBP only

[silvernewbie]

Do we think this will continue to 1k? Im holding off buying think it will keep falling

[HawkHybrid]

On 09/10/2019 at 19:19, HawkHybrid said:

 

https://thesilverforum.com/topic/25363-my-take-on-gold-short-term-trend-graphic/

 

I'm currently waiting to see if gold is going to

get to ~$1415 this winter.

 

HH

I'm still waiting until either

a, it breaks out of the channel(invalidates it).

b, it reaches my target of a possible channel

bottom.

 

HH

[AndrewSL76]

8 minutes ago, silvernewbie said:

Do we think this will continue to 1k? Im holding off buying think it will keep falling

It dropped as the £ rose. The £ rose because of the ongoing positive media reports of a deal on Brexit. I think the £ will continue to rise over the next few days then nose dive early next week after the realisation that a deal isn’t possible. Likely the gold price will dip to c.£1,100 or possibly less before rising back up to c.£1,250 or even up to £1,300. Factor in the events in Turkey/Syria and the possibility of American influence...

All just an opinion, of course. 

[AurumArgenti]

8 minutes ago, silvernewbie said:

Do we think this will continue to 1k? Im holding off buying think it will keep falling

My crystal ball is in the shop so I can't tell you. 😋 It might even go back upwards. 🤯

[AurumArgenti]

3 minutes ago, AndrewSL76 said:

It dropped as the £ rose. The £ rose because of the ongoing positive media reports of a deal on Brexit. I think the £ will continue to rise over the next few days then nose dive early next week after the realisation that a deal isn’t possible. Likely the gold price will dip to c.£1,100 or possibly less before rising back up to c.£1,250 or even up to £1,300. Factor in the events in Turkey/Syria and the possibility of American influence...

All just an opinion, of course. 

The amount of quantitative easing in Europe and America might also be another factor. A world recession is very possible.

[Miganto]

4 minutes ago, AndrewSL76 said:

It dropped as the £ rose. The £ rose because of the ongoing positive media reports of a deal on Brexit. I think the £ will continue to rise over the next few days then nose dive early next week after the realisation that a deal isn’t possible. Likely the gold price will dip to c.£1,100 or possibly less before rising back up to c.£1,250 or even up to £1,300. Factor in the events in Turkey/Syria and the possibility of American influence...

All just an opinion, of course. 

 

It's all this.

The other option will be the non-nose dive should a deal be created and accepted, the pound will rise a good way which'll lower the price of gold in pounds.

Other worldly events will come and go as they always do and will be as uncertain as they always are, but Brexit affecting the pound (and thus gold price for us) is a certainty.

[Xander]

 I have been watching some 1oz gold coins for the past 3 weeks waiting for the price drop and when it did drop slightly they were immediately gone. How long do you wait? 

Some people are impatient. 

 

 

[AndrewSL76]

6 minutes ago, Xander said:

 I have been watching some 1oz gold coins for the past 3 weeks waiting for the price drop and when it did drop slightly they were immediately gone. How long do you wait? 

Some people are impatient. 

 

 

I believe in coin karma. I know that makes me sound like a hippy (I am anyway) but it’s true. The amount of times I have watched and watched coins at HGM and waited and waited only to see them go, but then I see something on eBay that very same day at an even better price. Doors close and other doors open. Things are either meant to be or they’re not. Sounds really hippyish, I know. But in my limited experience it is true.

[JunkBond]

I don't mind getting the odd half sov at these prices but won't be buying any oz coins unless we get back to sub £1000.

[silvernewbie]

12 minutes ago, JunkBond said:

I don't mind getting the odd half sov at these prices but won't be buying any oz coins unless we get back to sub £1000.

Agreed when its falling over a period why catch a falling knife!! Watch and wait.  If anyone has any 1/10 libs they want to sell before Gold prices hit zero, let me know

[KDave]

58 minutes ago, AurumArgenti said:

The amount of quantitative easing in Europe and America might also be another factor. A world recession is very possible.

We are living through debt deflation right now standby for more debt related bankruptcies. It is now a case of how much CB's print as to how bad it will get over the next 18 months, followed in turn by inflation to the extent that they print. The FED have caused this through tightening for too long and will create huge inflation when they try to fix it. It will be a good time for gold soon, I just need it to get a bit cheaper for some christmas sovereigns first. 

[KDave]

Just an opinion but Sterling bottomed 2 months ago and gold has had seasonal price action for several years now - the trends have nothing to do with Brexit. 

[AndrewSL76]

1 minute ago, KDave said:

Just an opinion but Sterling bottomed 2 months ago and gold has had seasonal price action for several years now - the trends have nothing to do with Brexit. 

This is interesting. What do you mean by seasonal action? I’m still newish to this game so haven’t had enough seasons to see repeats etc. (Probably around ten seasons in total of stacking and collecting).

Do you think that the issues happening don’t effect the gold price and £ in general? 

Genuinely interested as I am working on the basis that the ongoing uncertainty re Brexit has played a part in the yo-yo-ing. 

[Stu]

4 minutes ago, AndrewSL76 said:

This is interesting. What do you mean by seasonal action? I’m still newish to this game so haven’t had enough seasons to see repeats etc. (Probably around ten seasons in total of stacking and collecting).

Do you think that the issues happening don’t effect the gold price and £ in general? 

Genuinely interested as I am working on the basis that the ongoing uncertainty re Brexit has played a part in the yo-yo-ing. 

Indian festivals/ wedding seasons and the like I think he is referring to.

Incidently, don't hear of too many "hippy" type lawyers as  a rule, ( or have I confused two members?!  ) There may be plenty but none on my radar. 

 

[AndrewSL76]

1 minute ago, Stu said:

Indian festivals/ wedding seasons and the like I think he is referring to.

Incidently, don't hear of too many "hippy" type lawyers as  a rule, ( or have I confused two members?!  ) There may be plenty but none on my radar. 

 

There are loads of hippy type lawyers, old bean. Tonnes of us. Walk around Lincoln’s Inn fields at any time of the day and play spot the hippy. Don’t be fooled by the wigs and gowns. 

[Stu]

Reminds me of the old joke, what's the difference between a lawyer and a hooker? 

 

A hooker stops f**king you when you're dead. 😀

[AndrewSL76]

PS glad they’re not on your radar. If you need a hippy type lawyer you’re probably in a world of pain.......

[Stu]

No offence intended.

[AndrewSL76]

Just now, Stu said:

Reminds me of the old joke, what's the difference between a lawyer and a hooker? 

 

A hooker stops f**king you when you're dead. 😀

I don’t do private work.

---

Added 0 minutes later...

Just now, Stu said:

No offence intended.

None taken!!! If you go ever need a lawyer, message me. I may not be able to help but can def help you find someone who can...

[AndrewSL76]

Imagine that for a second. You’ve just been arrested. The police ask you if you want your lawyer. You say ‘yeah mate, can I log onto TSF?’

Haha!!!

[Stu]

5 minutes ago, AndrewSL76 said:

I don’t do private work.

---

Added 0 minutes later...

None taken!!! If you go ever need a lawyer, message me. I may not be able to help but can def help you find someone who can...

Do you know much Udal law?

[AndrewSL76]

Just now, Stu said:

Do you know much Udal law?

Sorry, outside my area of expertise. I don’t do land law. My area of law is specific to government and policy. It’s a yawnathon, mate. Udal makes my area seem like Murder She Wrote.

[AndrewSL76]

Anyway, gold, seasonal, Brexit or other? What’s going on? Any chance of it dipping below £1k again?

[Stu]

I can't see it dipping below £1000 ever again, too much printy  printy and debt going on. I mind Jim Rogers banging on about gold falling below a thousand dollars only a year or so ago and that was true value, but believe he is still buying the odd sov in relative terms today. Gold went up around x5 from its low around 2000, I can see the bull run this time doing x10. As they say though, will a loaf of hovis be £20 at this point?

personally I am only adding the odd half sov currently, if it fell below 1k I would increase my purchases. 

[KDave]

15 minutes ago, AndrewSL76 said:

Anyway, gold, seasonal, Brexit or other? What’s going on? Any chance of it dipping below £1k again?

I honestly have no idea. 

My opinion is as crystal ball as everyone else - built on bias, charts and partial information. There appears to be an annual trend in the gold price, who knows what moves the price, Stu is likely correct on cultural demand but it doesn't matter. The historical charts say gold is weak in winter for several years now. Maybe it does the same this year, I reckon it will. Maybe this time is different, sometimes it is.  

If Trump can be elected in the winter of 2016 and gold still falls (because its winter), is it the news, or is it the trend? 

If gold can rise faster in the summer of 2019, compared to the rise in the summer of 2016 after the UK voted to leave the EU, is it the news, or is it the trend? 

I believe there is something larger at work driving the price, seasonal demand in the physical market could be it, maybe not. Perhaps it has nothing to do with anything, but it keeps happening anyway, until it doesn't. I hope that helps