Gold Monitoring Thread £ GBP only

[CorvusCorax]

My plan for this month's spend was for a 1/4 brit & 1/4 QB falcon and having seen the price rise this month has stalled me in the hope it may go down.  But who knows what may happen.

 

Decisions decisions.

[5huggy]

Just FYI 

https://www.fxempire.com/forecasts/article/price-of-gold-fundamental-daily-forecast-speculators-betting-on-weaker-u-s-economy-543604

[Pipers]

I have stopped for now.  Unless someone has a buy every month strategy it seems silly to buy ATM until we see how things pan out. 

[CorvusCorax]

8 hours ago, Pipers said:

I have stopped for now.  Unless someone has a buy every month strategy it seems silly to buy ATM until we see how things pan out. 

That's what I'm doing now.  Sitting back to see what happens.

[silversky]

very close to the magic 1k number now.

[sixgun]

From the chart i have just plotted the Andrews fork looks like it is working well - there multiple points where price has reacted to the lines. Looking across to the all time high, we might well expect if there is a slow run up in March 2020. Get through and hold about £1000 i expect another run for the midline a lot sooner.

 

Edited December 24, 2018 by sixgun

[MrBlack]

I'm in the US and I'm just sitting back and watching. I made several purchases early in the month, 3 1oz eagles, 1/4 oz Black Bull, 1919 20 Pesos (I got lucky on this, random year purchase and got a non restrike in AU/BE condition), Platinum Eagle (I always wanted one and found a 2014 MS70 at a fantastic price)

Everything I have read recently suggests $1300usd gold by the end of January but who knows...

[Kritika]

So close now, £996.23 @ 15.23 GMT

[Kritika]

Oh so close, but no cigar....

Looks like its going to be in the new year now.

Edited December 24, 2018 by Kritika

[Nick1368]

bang  £1004 

[Kritika]

Just look at it go 😳

Up an up like Willi Wonka’s elevator, where will it stop, nobody knows.

Edited December 26, 2018 by Kritika

[JunkBond]

While the price fixers are on holiday... 😀

[Paul]

1 hour ago, JunkBond said:

While the price fixers are on holiday... 😀

while there are less price fixers in the office  

 

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Added 0 minutes later...

SPOT £1008 - 3 Month Change    £+94.19 (+10.31 %)

[vand]

On 23/12/2018 at 09:26, CorvusCorax said:

That's what I'm doing now.  Sitting back to see what happens.

What you're really saying, then, is that you are trying to time the markets... good luck, but I don't fancy your chances of consistently being able to do so.

[CorvusCorax]

11 hours ago, vand said:

What you're really saying, then, is that you are trying to time the markets... good luck, but I don't fancy your chances of consistently being able to do so.

Either do I.  But as someone new to this I'd rather pace myself.  On the other hand I only had about £500 to buy PMs this month so the profit or loss is not exactly going to be life changing.

It might also work out better to wait and buy a 1 Oz coin instead of the fractionals I was planning and save on premiums.

[5huggy]

Paper meddler's are out of the way and look how it goes!

Edited December 31, 2018 by 5huggy

[AuricGoldfinger]

Fallen back slightly to £1001 hopefully it dips a bit more so i can stop procrastinating on a purchase!

[vand]

On 31/12/2018 at 08:36, CorvusCorax said:

Either do I.  But as someone new to this I'd rather pace myself.  On the other hand I only had about £500 to buy PMs this month so the profit or loss is not exactly going to be life changing.

It might also work out better to wait and buy a 1 Oz coin instead of the fractionals I was planning and save on premiums.

No, you're already trying to outwit the market. If you want to be internally consistent.. you "only" have £500 to buy PMs this months, so what does it matter if spot is £970 or spot is £1010, it's 40 bucks, not worth losing sleep over. 

If you agonise that you missed the low end of the candlestick every month and roll over to the next month then you aren't going to last very long at this game.   What are you going to do if spot is £1050 this time next month? I'd rather get it out of the way, and think of the £40 as money well spent in order to hold the metal. Some months it will work in your favour, some months it will work against you, but if you expend unnecessary mental energy every each and every month then you're already way behind the curve.

[MickB]

Gold at £1015, would this be anything to do with China vowing to re-unite with Taiwan and saying it could use force if necessary?

[Money2Metal]

Gold now at £1018.76. It might have something to do with China-Taiwan. I hope it remains peaceful between them as Taiwan is a lovely place. 

There is a shop near me with a 1913 Sovereign in the window for £250. I'm very tempted 👀

[sovereignsteve]

3 minutes ago, Money2Metal said:

Gold now at £1018.76. It might have something to do with China-Taiwan. I hope it remains peaceful between them as Taiwan is a lovely place. 

There is a shop near me with a 1913 Sovereign in the window for £250. I'm very tempted 👀

In the words of Neil Peart (but that's another thread) "I can learn to resist anything but temptation" or probably originally "I can resist anything except temptation" by Oscar Wilde...

However, just give in and try to get a discount!😉

[SpacedMarine]

It's a currency thing not sure why but USD price is only £2 change.blame Brexit as that's what all the economists and politicians do.

Edited January 2, 2019 by SpacedMarine

[vand]

3 hours ago, SpacedMarine said:

It's a currency thing not sure why but USD price is only £2 change.blame Brexit as that's what all the economists and politicians do.

No, quite the opposite. Gold is strong today even despite a firmer USD, so that means the true price of gold is very strong today and gold priced in other currencies will be even higher than its nominal USD change.

Edited January 2, 2019 by vand

[SpacedMarine]

14 minutes ago, vand said:

No, quite the opposite. Gold is strong today even despite a firmer USD, so that means the true price of gold is very strong today and gold priced in other currencies will be even higher than its nominal USD change.

Wrong.Down 0.1% in dollars up 1.1% in pounds.The pound has had a bad day.Admittedly gold has been quite strong recently but look at a GBP/USD chart.In dollars it's just bumping along in pounds it's having a breakout.Needs to pass about£1100 for some serious action but that means we're having some serious inflation.

Seem to remember the "special relationship" being called in to question somewhere yesterday.

Edited January 2, 2019 by SpacedMarine

[sixgun]

There have been relatively large movement in the currencies today.
USD has been stronger today other than against JPY.
Gold is pretty much unmoved against USD so is stronger against GBP, hence we have seen the price of gold go up few pounds.