Why is gold shooting though the roof of late

[goldrush]

So its been fairly much a 6 week hit now, where it has just gone up and up and up with out coming down. And No news in the main stream or alternative media why. Last time it spike it was because of some bank went broke but prices dropped back down in a couple of weeks (in a panic buy); but not this time! So why?

Why I ask. I have bough gold for a few years now but I now need to get rid of some funds/ cash and I am worried that this price will come back down in a crash so dont know when to time it and with no idea of why this is happening I do not know how to plan it

Or should I just buy my first stock of Silver instead?

 

Thanks

[Xeros]

My opinion, having gold at what could be a high price is far better than having cash sitting around or funds in bank. 

I thought the exact same thing at around £1800-1900/oz and was hoping for a pull back, it didn't happen and now I'm glad I bought what I did when I did

I don't really see gold going down a considerable amount to where you'd regret buying it at these prices, especially if your holding it for years/long term

 

For why it's going up, wars, elections, economic uncertainty, a lot more people having less trust in there countries currency increasing the demand etc..

 

And for buying your first stock of silver, also a good idea, bit of diversification would never be bad

[Thelonerangershorse]

I saw a 2012 quintuple sov some time ago, the price was £1270 and dropping slowly, when it hit £1220 I thought "only another £20, and It's mine"

 

 

 

Still waiting for that last £20 drop.

[goldrush]

1 hour ago, Xeros said:

 

 

For why it's going up, wars, elections, economic uncertainty, a lot more people having less trust in there countries currency increasing the demand etc..

 

So we might see it drop after the election then?

[goldrush]

56 minutes ago, Thelonerangershorse said:

I saw a 2012 quintuple sov some time ago, the price was £1270 and dropping slowly, when it hit £1220 I thought "only another £20, and It's mine"

 

is that a full on 24 carrot gold coin that is face valued at a fiver?

 

Where and how would you store and look after it? How much would you loose to buy and resell it off of its spot price?

[Xeros]

3 minutes ago, goldrush said:

So we might see it drop after the election then?

If the US dollar goes down after an election gold would generally go up but that doesn't necessarily mean that the GBP price of gold could change 

I do believe it's a trend that gold goes up before elections though then dips a little after but not by much and not for long 

I'm still fairly new to all of it aswell but I have watched a lot of videos and am heavily interested in what makes gold fluctuate 

[Zhorro]

3 hours ago, goldrush said:

So its been fairly much a 6 week hit now, where it has just gone up and up and up with out coming down. And No news in the main stream or alternative media why. Last time it spike it was because of some bank went broke but prices dropped back down in a couple of weeks (in a panic buy); but not this time! So why?

Why I ask. I have bough gold for a few years now but I now need to get rid of some funds/ cash and I am worried that this price will come back down in a crash so dont know when to time it and with no idea of why this is happening I do not know how to plan it

Or should I just buy my first stock of Silver instead?

 

Thanks

I think the current surge in the gold price is to do with the BRICS meeting next week.  The BRICS countries (Brazil, Russia, India, China and South Africa - plus quite a number of others)  have been looking to reduce their dependence on the US Dollar for their reserves and international trade.  There is the possibility that at next week's meeting they may move forward with their "Unit" which could be 40% backed by gold.  In addition to the gold that Central Banks have been buying, China, Russia and India have also been buying silver.  So, there is the possibility that people are positioning themselves in anticipation of some sort of announcement next week.