Gold Monitoring Thread £ GBP only

[Bumble]

I ordered 100 tons of gold for my personal stash this morning. Somebody at the dealer must have leaked the news.

[Kookaburracollector]

Did someone leave the fire door open at Fort Knox?

Any ideas for the spike?

[5huggy]

I think the "Plunge protection team" (ergo - suppression)  are not at the desk due to US government shutdown

That and peeps starting to run "SCARED"! 

COMBO of two above = UP!

 

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Added 0 minutes later...

$20 jump is a little significant - IMHO

[Kookaburracollector]

Maybe someone at the PPT has a fat thumb today and hit the button with dust on it lol😳

[Kookaburracollector]

 I see a golden cross looming....let’s hope so.

Then watch everyone complain about the high price of gold...it will be a double edged sword for some..

[5huggy]

36 minutes ago, Kookaburracollector said:

 I see a golden cross looming....let’s hope so.

Then watch everyone complain about the high price of gold...it will be a double edged sword for some..

No complaints here buddy - - but I know what you mean  😉

[Kookaburracollector]

Just looked at my trading account..paid for the 1oz Reverse Proof Libertad I ordered today lol! Not a realised profit of course, but I feel a bit richer...let’s hope the trend continues...been here sooooo many times before..

[sixgun]

Yes a pop in price today - hit and very briefly got through $1300. Get through $1300 and hold - the next target is $1400 (in the Summer perhaps).

 

[shortstack68]

Just be wary if you buy from here

 

https://mol.im/a/6628963

[sixgun]

Through $1300 again and from the price action it triggered some short stops - looks like it could end the week above this big round number and at its highest dollar price since June 2018. Price will likely come back to $1300 and then it needs to hold turning resistance into support.

 

[Kookaburracollector]

Not heard of them fortunately. Read the article..that fellow better keep his trap shut about Bernie..a man that has some very interesting friends...I wouldn’t want to cross him in any way!

[KitboyE17]

12 minutes ago, shortstack68 said:

Just be wary if you buy from here

 

https://mol.im/a/6628963

Coincidence?

 

[Kookaburracollector]

@sixgun I don’t use charts myself, but understand $1302 is a key level to close at...what are you reading in the golden tea leaves at present...just curious.

[sixgun]

My impression of the chart is as long as price holds the $1300 level, all things being equal price will zig zag up to $1400 by the early summer.

GBP has been strong over the last few days - something to do with the market movers interpretation of Brexit.

 

[Kookaburracollector]

If gold hits $1400, then the GBP price of gold will be close to, if not above it’s all time high..around £1100 /oz I think. As I only started collecting coins 3 years ago, I have not witnessed the coin market in this environment. Based on comments in TSF, I guess a lot of coin collectors will reduce their purchases ...do you agree or am I way off the mark ...

As I hold investments in gold mining companies and get leverage on the price of gold, I will look forward to a higher price, but I guess most on the forum would not...will be interesting to see how this plays out..

[sixgun]

When the price of gold and silver is strong you see members of the forum selling more coins. They are familiar with the previous price action where price goes up to the top of the channel only to go down again. i expect this is why coins collectors would be holding off buying and or selling. At the same time, if gold goes on a tear there will be new collectors enter the market.

Gold and silver are longer term investments. All fiat currencies eventually go to zero. What coin collectors are buying isn't relevant to the gold price.

[shortstack68]

10 hours ago, Kookaburracollector said:

If gold hits $1400, then the GBP price of gold will be close to, if not above it’s all time high..around £1100 /oz I think. As I only started collecting coins 3 years ago, I have not witnessed the coin market in this environment. Based on comments in TSF, I guess a lot of coin collectors will reduce their purchases ...do you agree or am I way off the mark ...

As I hold investments in gold mining companies and get leverage on the price of gold, I will look forward to a higher price, but I guess most on the forum would not...will be interesting to see how this plays out..

Its high was $1824 in Aug 2011 which is around £1384 

[Kookaburracollector]

@shortstack68 The USD GBP (cable) exchange rate back then (Aug 11) was about $1.60 to $1.65,  so $1824 would be around £1100 and not £1384 unless I am mistaken...happy to stand corrected..

[shortstack68]

1 minute ago, Kookaburracollector said:

@shortstack68 The USD GBP (cable) exchange rate back then (Aug 11) was about $1.60 to $1.65,  so $1824 would be around £1100 and not £1384 unless I am mistaken...happy to stand corrected..

Yes, you are correct, i was using todays price exchange 🙄

[Kookaburracollector]

Not sure I would like to see gold that high...would make our collecting a lot more expensive.

[shortstack68]

I think a double top to $1309 before dropping again, possibly forming a cup and handle which i think is a bullish formation

Edited January 26, 2019 by shortstack68

[HawkHybrid]

my guess is the wave d of a horizontal top triangle at $1360.

there might be more years of retracement yo-yo before we

finally move to challenge the 2011 highs.

 

 

HH

Edited January 26, 2019 by HawkHybrid

[sixgun]

Price breached $1300, returned to $1300, so resistance became support. Now is pushing ahead. GBP fell today against USD so we see gold back over £1000 an ounce.

[sixgun]

On 26/01/2019 at 10:12, shortstack68 said:

I think a double top to $1309 before dropping again, possibly forming a cup and handle which i think is a bullish formation

The top of the cup is around the $1350 level - then a pull back if we are to see the cup and handle and then the push on up from there.

There is a good deal of chart resistance at the $1350 level, so a pull back seems likely. Then another run up and through the resistance so completely the cup and handle.

 

 

http://www.newtraderu.com/2012/08/20/why-the-cup-handle-chart-pattern-works/

Edited January 29, 2019 by sixgun

[HawkHybrid]

55 minutes ago, sixgun said:

Price breached $1300, returned to $1300, so resistance became support.

 

doesn't work like that. we are currently at ~$1310 which is

within the ~$1300 support/resistance zone. it's still deciding

what it wants to do as nothing has happened yet.

 

HH