Gold on its way up

[Goldmick]

Wow gold is on its way up again over £1200 

[Varus]

Gold in $ loves war and Gold in £ Brexit.

[Tn21]

Re the price

😲

[Abyss]

I think @Goldmick wants start a thread 40+ pages long . In November 2020 people still on this thread saying yes Gold price is still higher and now above £1500 how high can it go........

[5huggy]

Early days yet  - with a tiddly bit of volatility!

In a little while the "DERAVATIVE " explosion WILL occur! IMHO

Bert wert duz eye know!?

[goldking]

Through £1200 again today.  3rd time for 2020.

[RoughDog]

Yikes 😁

[silenceissilver]

4 hours ago, goldking said:

Through £1200 again today.  3rd time for 2020.

I'm still waiting for the first time under £900 ⏰

[goldking]

I think those days may be gone forever  .  My gut feeling is that even back down to £1100 is looking increasingly unlikely as time progresses .

[silenceissilver]

Just now, goldking said:

I think those days may be gone forever  .  My gut feeling is that even back down to £1100 is looking increasingly unlikely as time progresses .

Of course they are. Am I allowed to dream about cheap gold?

[Oldun]

The US was on holiday Monday so the Asian market bid it up probably. It will be interesting to see the reaction when the yanks come back to work.

[Robda1986]

So I'm not the only one looking at the price wanting it to plummet then even for an hour would do me 

[goldking]

Another day of relative highs, sat over £1200 all day, spiking to nearly £1206 and has closed for the weekend at £1201.  3 weeks solid now where it hasn't dipped below £1180 except for one very brief moment to £1178.  Is £1200 toz becoming the new base line do you think?

What are your predictions for highs this year and what price do you think we'll end the year at?  With all the turmoil in the financial markets it feels impossible to gauge for me.  I think £1300 toz minimum is likely by the year end with some spikes quite a bit higher than that throughout the year.  I also think it would go even higher if the dollar falls over.

Interesting times.

[Abyss]

7 minutes ago, goldking said:

What are your predictions for highs this year and what price do you think we'll end the year at?  With all the turmoil in the financial markets it feels impossible to gauge for me.

Don’t yet have turmoil in the financial markets not seen 700 point fall in the Dow. Since Fed started provide liquidity repo market (QE4) risk on lot speculators bought stocks and today’s decline could just profit taking. Because Brexit to hard provide £ figure for Gold but in dollars $1750 target by year end.

[goldking]

What is $1750 in our money at the current rate?  $1571 today is £1201 so around £1350 would you say?

Brexit is indeed an unknown.  A lot of strong feelings and opinions on both sides of that 'coin' so will be interesting to watch what happens "if" the exit does actually happen for real.  My gut feeling (and that's all it is) is that it won't have a huge effect.  There will be some 'fear' buying for sure, which will see an upwards spike, but I think it will be relatively short-lived.

ETA: I initially misread your comment about Brexit - I see what you're referring to now.

[Oldun]

Brown’s bottom was, what, 250 quid, in 1999ish. Let’s say a 1,000 quid rise in 20 years.....averages out at £50 a year rise per ounce if you had just held since then.

[Oldun]

 

[Abyss]

China expects Coronavirus outbreak to accelerate and that could send the Asian stock markets deep into red which would in turn impact western stock markets. Major sell off in the stock markets around of the world because of the virus then we should have a flight to safety right into Gold. Gold could hit $1750 in couple of days rather than by the end of the year. A pandemic virus definitely counts as a black swan event.

[sixgun]

Slightly messy chart - there are two Andrews forks working and a lot of horizontal support resistance.

Price is at the median line of the fork which starts in 2009. Price got just above the median line and just above the big round number of £1200.

My guess is Sterling will improve once Brexit is allegedly over at the end of the month.

[Pipers]

BoE meeting 30-1-20 noon.  Imo there is going to be a rate cut, as they can always raise rates later on if economy is doing well.  

 

[Martlet]

11 minutes ago, Pipers said:

BoE meeting 30-1-20 noon.  Imo there is going to be a rate cut, as they can always raise rates later on if economy is doing well.  

The inflation and PMI numbers dont support rate cut in UK.

[HelpingHands]

Gold might open higher again if this is true

 

[silenceissilver]

On 24/01/2020 at 22:49, goldking said:

What are your predictions for highs this year and what price do you think we'll end the year at?  With all the turmoil in the financial markets it feels impossible to gauge for me.  I think £1300 toz minimum is likely by the year end with some spikes quite a bit higher than that throughout the year.  I also think it would go even higher if the dollar falls over.

Interesting times.

I think the main place to look at is the Euro zone, it could send the gold price quite high, this year and if not this year, then 2021. Of course the financial system is in a mess in China, the UK and the US too but the Euro zone is in the most mess. I have mentioned Markus Krall's predictions a few times already - the German banking sector is close to collectively being unprofitable. His prediction since 2018 has been, most likely it will cross the line in quarter 3 2020 plus or minus two quarters (so it could be 2021). Krall is the guy who created the internal bank stress tests for 80% of German and many other Euro zone banks, not a random guy on youtube. He also thinks the UK could be a profiteer of the Euro crisis, at least temporarily (most likely fully breaking out in 2022 if the quarter 3 2020 prediction is right) as many continentals could try and send their savings to the UK. Thus the rise in GBP might not be as high, in comparison, during the Euro crash. What we can see already, a few days ago a high ranking socialist politician started working for the Deutsche Bank, which in a way is part of Krall's predictions (politicians will nationalize many/all banks and play bankers - that's due for 2021/22, though).

So, what's my prediction? I think we buyers will be lucky if it doesn't go over 1700 Dollars, this year.

[Abyss]

[Abyss]

Futures market now opened 300 points down on the Dow and Gold $14 dollars up already. Big moves in the market when London trading begins followed by opening US markets.