Gold Monitoring Thread £ GBP only

[Tonyb959]

2 hours ago, AuricGoldfinger said:

Gold seems to just keep creeping up these last week or two!

Don't remind me, had my eye on a coin I've wanted for a while, and now I'm reconsidering 😢

[AuricGoldfinger]

9 minutes ago, Tonyb959 said:

Don't remind me, had my eye on a coin I've wanted for a while, and now I'm reconsidering 😢

😂 Tell me about it. I should be happy but i want cheap cheap! I’ve been buying on the dips but the dips have turned to jumps so dont know what to do 😭

[sovereignsteve]

27 minutes ago, AuricGoldfinger said:

😂 Tell me about it. I should be happy but i want cheap cheap! I’ve been buying on the dips but the dips have turned to jumps so dont know what to do 😭

just be happy what you own is rising in value. have a review of your stack and perhaps take the opportunity to sell some things that don't fit in with your strategy or just take some profit. hold the money back to buy on the next dip.

[AuricGoldfinger]

@sovereignsteve yep just gonna accept it and hold fire for a bit and see what happens 🤞 

[Nick1368]

3 hours ago, Tonyb959 said:

Don't remind me, had my eye on a coin I've wanted for a while, and now I'm reconsidering 😢

the life of a gold stacker 😂 when it goes down you panic, when it goes up you get annoyed because you have to pay more to buy the coin you've been planning to buy.

 

[StackingItAll]

On 23/10/2018 at 21:13, sovereignsteve said:

just be happy what you own is rising in value. have a review of your stack and perhaps take the opportunity to sell some things that don't fit in with your strategy or just take some profit. hold the money back to buy on the next dip.

I was thinking just this earlier 

[Paul]

Gold Price 

Current Price    £967.39
Month High Oct    £969.28
Month Low Oct    £900.03
Month Change    £+54.87 (+6.02 %)

Not bad for a month 

Is this the gold train leaving the station, next stop to da'moon ?

 

[CorvusCorax]

10 minutes ago, Paul said:

Gold Price 

Current Price    £967.39
Month High Oct    £969.28
Month Low Oct    £900.03
Month Change    £+54.87 (+6.02 %)

Not bad for a month 

Is this the gold train leaving the station, next stop to da'moon ?

 

I've also been keeping an eye on the price this week.  I hope it keeps going up as I pulled the trigger on another couple of Oz this afternoon.

[Paul]

[RoughDog]

 

Looks like were seeing a sudden bust of acceleration

[Martlet]

2 hours ago, Paul said:

Is this the gold train leaving the station, next stop to da'moon ?

 

It's certainly halted and reversed the downward march that looked heading for 2 year lows.  However the weakening £ is exaggerating the Gold/$ price which is modest rise this week. 

Edited October 26, 2018 by Martlet

[HawkHybrid]

my guess for those waiting to buy on the dip would be to

see if the mid term elections brings some stability to the

stock market and maybe a pullback in the gold price.

 

HH

[Jarred]

On 28/10/2018 at 15:28, HawkHybrid said:

my guess for those waiting to buy on the dip would be to

see if the mid term elections brings some stability to the

stock market and maybe a pullback in the gold price.

 

HH

What if the opposite happens and stocks freak out and gold flies. Then we should be thinking about buying now? 

[HawkHybrid]

that's unlikely as markets don't move in a straight line. a freak out

usually means the end of one of the cycles. an update is always

better than no update as it allows for people to prepare with more

data(even if that data is bad news). knowing what to expect can

sometimes prevent a mass freak out. emergency/core holdings

should be held now/soon. imo the insurance aspect of this should

out weigh any possible gains in fluctuations.

 

HH

[HawkHybrid]

https://www.gold-eagle.com/article/analysts-totally-wrong-about-gold-price-top-gold-miners-production-cost-still-provides-floor

 

interesting gold price chart(the update to harry dents resistance

trend). it shows that we could currently be trying to not break

back into the old down trend. if the price holds on this breakout

re test then this could be a low point for higher prices.

fed rate decision is on 18th dec. in anticipation of a rate hike,

buying before this decision usually gets lower prices.

 

HH

[Paul]

any ideas why we have had a sudden spike upwards today?

[SpacedMarine]

Capital flows to America Dow up 400pts.The riots in France have probably got anyone invested in Europe spooked.Plus Trump got concessions out of China at G20 so US is probably a safe haven ATM.

There's probably a variety of reasons tbh take your pick.

Edited December 3, 2018 by SpacedMarine

[SpacedMarine]

4 minutes ago, SpacedMarine said:

Capital flows to America Dow up 400pts.The riots in France have probably got anyone invested in Europe spooked.Plus Trump got concessions out of China at G20 so US is probably a safe haven ATM.

There's probably a variety of reasons tbh take your pick.

 

[SpacedMarine]

On 26/11/2018 at 23:25, HawkHybrid said:

https://www.gold-eagle.com/article/analysts-totally-wrong-about-gold-price-top-gold-miners-production-cost-still-provides-floor

 

interesting gold price chart(the update to harry dents resistance

trend). it shows that we could currently be trying to not break

back into the old down trend. if the price holds on this breakout

re test then this could be a low point for higher prices.

fed rate decision is on 18th dec. in anticipation of a rate hike,

buying before this decision usually gets lower prices.

 

HH

Sorry but Harry dent is a pillock

[HawkHybrid]

the article shows a possibility of where harry dent might

have misinterpreted the charts to arrive at his conclusion.

knowing where others might have gone wrong is also

trying to get a better understanding of the situation.

 

HH

[SpacedMarine]

I put him in the same category as Bo polny baloney.He also said the stock market going to crash a million times but people keep buying his books.Dont take it personally but in my opinion he's a bit of a charlatan.Kind of a stopped clock scenario.I did use to listen to these kinds of people myself at one point but these days I don't waste my time.

[HawkHybrid]

for the record I am not a harry dent supporter and have

always thought his claims of a coming $700 gold price

to be 'optimistic'. it's not an article that defends harry

dent. it just mentions his way of predicting.

 

HH

[Bumble]

I'm not a Dent fan either, but to be fair to him, he does have one thing right, which is that one of the major factors that influence future developments is demographics. Everybody gets older at a rate of one year per year and this is not going to change, so the future distribution of people by age is entirely predictable. Most western countries are about to tumble over the demographic cliff as the baby boom generation retires and this will have major consequences. Dent thinks that the next financial crash, when it comes, will result in a huge deflationary bust that will send all prices, including gold, downwards. This will only be true if governments and central banks sit on the sidelines and do nothing. We know from experience that they won't. Their response will be to print money and reduce interest rates, and they will keep doing so until price inflation is restored. This will be positive for gold, not negative.

[HawkHybrid]

I think mass measurable currency deflation is a myth.

if currency deflation is too many goods/services chasing

too few currency in circulation,

and banks can use fractional reserve banking to balance

currency flow by the use of assets(goods and services),

then won't banks be able to balance the flow of currency

indefinitely?

(this is very different to money deflation where you need

time to mine and mint the gold coins in question)

 

HH

[SpacedMarine]

1 hour ago, HawkHybrid said:

I think mass measurable currency deflation is a myth.

if currency deflation is too many goods/services chasing

too few currency in circulation,

and banks can use fractional reserve banking to balance

currency flow by the use of assets(goods and services),

then won't banks be able to balance the flow of currency

indefinitely?

(this is very different to money deflation where you need

time to mine and mint the gold coins in question)

 

HH

I'm not talking about banks I'm talking about investors with capital.Yes banks can create as much currency as they like but without people willing to borrow and rising interest rates who would be fool enough to borrow?

It's the world we live in,we don't use gold and silver as money it's a "reserve asset"/"tradeable commodity" whether you believe it or not!

Ok you could set up a private exchange using gold Vs whatever you want to trade but as a general rule it isn't money at the moment.

What happens when a state or government defaults on its debt?It causes a massive deflation as the debt was an asset on the bank/central banks books.Ok they can roll it over but that money/currency has vanished and means the banks can't count it as an asset.This then means the bank has to call in loans to reduce its reserve ratio unless the rules are changed.Which is what usually happens.

Also the fact that interest rates are so low and money has poured into real estate.What happens when people can't afford their mortgages and house prices tumble as a result?How is that not deflation? It's by definition deflation expressed as a housing crash.

Again the rules could change.In Greece there are people who haven't paid their mortgages for years yet they still live in the same house.

Edited December 3, 2018 by SpacedMarine