jiltedjen Posted February 19, 2020 Share Posted February 19, 2020 Crazy to think we are not that far off all-time highs. just shows how far sterling has fallen. still gold should still be multiples times higher given the money printing Quote Link to comment Share on other sites More sharing options...
warrior88 Posted February 19, 2020 Share Posted February 19, 2020 14 hours ago, reddog said: So gold seems to have cracked $1600 again, any idea what caused a quick run-up? I would have thought that the contraction in Japanese economy in Q4 2019 and now recession due in Japan and Germany from Q1 is causing global economic concern. Quote Link to comment Share on other sites More sharing options...
Crashley Banjo Posted February 19, 2020 Share Posted February 19, 2020 Also safehaven buying on the back of Corona virus fears Quote Link to comment Share on other sites More sharing options...
Crashley Banjo Posted February 19, 2020 Share Posted February 19, 2020 Also safehaven buying on the back of Corona virus fears Quote Link to comment Share on other sites More sharing options...
reddog Posted February 20, 2020 Share Posted February 20, 2020 I do get the point that we have Corona virus etc. But I would have thought that was already priced. Gold has shot up again today, you almost wonder if someone knows something we don't know! Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted February 21, 2020 Share Posted February 21, 2020 If gold continues on this trajectory we could be past GBP all time high next week. Yet again we have to puzzle why? The 2019 full year report from the World Gold Council showed that the biggest sector for a substantially higher demand was in gold backed ETF's. The WGC does monthly updates on gold ETF's and January 2020 purchases continued with higher demand. It explains in part the rise in price, but not the reason for the purchases. It is institutional investors that buy gold this way in the main, maybe with zero and negative rates it's turning into the best place for cash they have spare..._ Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted February 21, 2020 Share Posted February 21, 2020 Maybe it’s a rising sea raises all boats kind of thing, money is flowing into everything, and now even good is getting a few splashes Quote Link to comment Share on other sites More sharing options...
longgone Posted February 21, 2020 Share Posted February 21, 2020 Someone msg me when 20's are cheaper than bog roll. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted February 21, 2020 Share Posted February 21, 2020 5 hours ago, jiltedjen said: Maybe it’s a rising sea raises all boats kind of thing, money is flowing into everything, and now even good is getting a few splashes Not as daft or as wild as you may think, QE and low rates do seem to have boosted all asset prices. Maybe this is as just a reflection of gold as a commodity being similarly affected. Only with the double bubble of being used as a substitute for cash balances. As posters know, Digger Mansions buying days are over, and we are in bucket list selling territory. We've hedged a good profit by selling some and stacking it in PB's, but are holding tight for now on selling..._ Quote Link to comment Share on other sites More sharing options...
Crashley Banjo Posted February 22, 2020 Share Posted February 22, 2020 12 hours ago, DiggerUK said: Not as daft or as wild as you may think, QE and low rates do seem to have boosted all asset prices. Maybe this is as just a reflection of gold as a commodity being similarly affected. Only with the double bubble of being used as a substitute for cash balances. As posters know, Digger Mansions buying days are over, and we are in bucket list selling territory. We've hedged a good profit by selling some and stacking it in PB's, but are holding tight for now on selling..._ Waiting and watching.. should we be looking to sell within months / few years ? Quote Link to comment Share on other sites More sharing options...
warpig Posted February 22, 2020 Share Posted February 22, 2020 No, this is the second leg, it's only just getting started. 6 minutes ago, Crashley Banjo said: Waiting and watching.. should we be looking to sell within months / few years ? Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted February 22, 2020 Share Posted February 22, 2020 Having not checked the Gold price this year until just now, Roman Roady is pleasantly surprised! Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted February 24, 2020 Share Posted February 24, 2020 So, we didn't have to wait far into this week to pass the all time GBP high. For me it has a special significance, at over £1300 an ounce it is more than double my average cost per ounce. My average cost is sub £650 an ounce and I can remember the price falling to £700 in 2015. It gave me a worrying time. I often think back to that period when I see the scenes in "The Big Short" when he keeps going back to his calculations and comes away still convinced he's right. I can also remember making a large purchase of Britannias in 2009 at nearly £700 each, which within six months could be purchased for less than £600 each. For you still stacking the price rise is bad news, but somewhere back on the gold thread I can remember posting about the wisdom of buying gold when it went over £400..._ Quote Link to comment Share on other sites More sharing options...
warrior88 Posted February 24, 2020 Share Posted February 24, 2020 55 minutes ago, DiggerUK said: So, we didn't have to wait far into this week to pass the all time GBP high. For me it has a special significance, at over £1300 an ounce it is more than double my average cost per ounce. My average cost is sub £650 an ounce and I can remember the price falling to £700 in 2015. It gave me a worrying time. I often think back to that period when I see the scenes in "The Big Short" when he keeps going back to his calculations and comes away still convinced he's right. I can also remember making a large purchase of Britannias in 2009 at nearly £700 each, which within six months could be purchased for less than £600 each. For you still stacking the price rise is bad news, but somewhere back on the gold thread I can remember posting about the wisdom of buying gold when it went over £400..._ Question is how much further gold has to go? Quote Link to comment Share on other sites More sharing options...
reddog Posted February 24, 2020 Share Posted February 24, 2020 1 hour ago, warrior88 said: Question is how much further gold has to go? Citi bank (not some internet pumper) see it going to $2k in 12-24 months. One thing of caution though, is because it has ripped higher, it may correct. I see this as being reasonable. Quote Link to comment Share on other sites More sharing options...
Errol Posted February 24, 2020 Share Posted February 24, 2020 (edited) 1 hour ago, warrior88 said: Question is how much further gold has to go? My view (which has been stated continually on this epic thread) is ultimately $10,000 an ounce. Minimum. Could be far higher. This is all part of a long process. No hurry. Next important juncture will be when the US all-time high price is beaten. Edited February 24, 2020 by Errol Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted February 24, 2020 Share Posted February 24, 2020 58 minutes ago, Errol said: This is all part of a long process. No hurry. Next important juncture will be when the US all-time high price is beaten. This is when it’s off to the races. no one cares about GBP prices (apart for those of us in old Blighty) I think it’s going to take maybe 9 years to breach $2k at which point it will probably shoot up much higher. there is nothing to solidly drop the stock markets, only thing that will do that is a blow off top. So come 2029 gold would of risen considerably from the 2025 lows, as it became more and more obvious that the massive stock market would blow. gold probably held down aggressively with paper gold printing, but when it goes pop gold will rocket again. but in 9 years time. Nothing soon Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted February 25, 2020 Share Posted February 25, 2020 Well, £1300 didn't last long, but it felt good to be out in the sunshine. $USD is still north of $1600, but $200 odd dollars off it's all time $USD high. GBP buys a cent less at $1.29, and dollar price slipped back $40/$50. A lot of fuss was made about a "crash" on the stock markets, but when markets are compared to the position they were in a year ago it's no big deal.........for now anyway. Happy stacking campers..._ Quote Link to comment Share on other sites More sharing options...
warrior88 Posted February 25, 2020 Share Posted February 25, 2020 21 hours ago, Errol said: My view (which has been stated continually on this epic thread) is ultimately $10,000 an ounce. Minimum. Could be far higher. This is all part of a long process. No hurry. Next important juncture will be when the US all-time high price is beaten. hmm how long is the question, 10 years, 20 years , 30 years, or 100 years. I don't doubt price should be above $10K in 100 years. I would expect $3K in 2 years time. Quote Link to comment Share on other sites More sharing options...
KieranE Posted February 25, 2020 Share Posted February 25, 2020 On 2/21/2020 at 6:16 PM, longgone said: Someone msg me when 20's are cheaper than bog roll. Judging by this news article, it could happen sooner than you think ! Coronavirus: Armed robbers steal hundreds of toilet rolls in Hong Kong For the record, I make the current exchange rate about £20 = 50 Andrex rolls. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted February 26, 2020 Share Posted February 26, 2020 On 24/02/2020 at 11:59, Errol said: My view (which has been stated continually on this epic thread) is ultimately $10,000 an ounce. Minimum. Could be far higher. Why do you think it will go so high? Just inflation reducing the value of fiat or something specific to Gold? Because obviously thanks to inflation you’d always expect it to go up...and yes one day reach 10k...? Quote Link to comment Share on other sites More sharing options...
Hecto Posted February 26, 2020 Share Posted February 26, 2020 I feel gold has the potential to go much higher. The amount of global wealth in gold is currently very small, compared to bonds, stocks and property. Bonds are and increasingly negative yielding. Gold is currently a false and very opaque market due to large amounts of derivatives and futures. LBMA and Comex cannot continue this paper gold market for ever. Much more awareness of the corruption in the precious metals markets by the likes of JP Morgan etc. Gold being mined is currently very low grade compared to the past. High grade deposits mined out. Talk of peak gold. US Dollar will likely no longer be the reserve currency. Possible switch to currency which is actual value backed, may involve gold. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted February 26, 2020 Share Posted February 26, 2020 (edited) i cant see how anyone can stop paper gold until demand is soooo high that what little current physical demand there is actually starts to become quite large its all about the physical delivery, and thats the key. but as everyone involved in gold knows they would rather people buy paper-gold and discourage any kind of actual physical delivery. They would go as far as banning or taxing physical gold if the demand every got larger. i own a lot of gold and its a good hedge against downturns as its value will go up in any large downturn, but that value, although increased dramatically will still be several times lower than its 'true value' given paper gold contracts. if you want to see how gold should be reacting value wise, look at the long term bitcoin price chart. As they is no paper-bitcoin as there is a visible triple entry book-keeping ledger. in fact the best chance for gold to reach its true value is for the powers that be get too worried about the rise of bitcoin, and in tern let gold rip as the 'lesser evil' its better the devil they know and can control (eventually crashing gold value once again with more paper gold once bitcoin is slain, and can never recover). A huge surge in gold prices would damage bitcoin long term, even kill it, as whats the point in bitcoin if gold turns out to be the true value store instead of endlessly suppressed. Thus any gold-bug should own bitcoin, and any bitcoin bug should hold gold. if you hold both you will still have a life changing amount of value. And any rational investor should also gold shares, long dated bonds, cash in addition to bitcoin/gold. Its all an interesting power play. At this moment in time the money printers, and the gold paper contract printers still control all value in the system. they can steal value right out of your pocket. The only threat is Bitcoin, where as historically gold was the threat (100 or 200 years ago), gold having long since been tamed (technology overtook the relic) may turn out to be the only tool they have to combat bitcoin. Either way the money printers win in the end. They can trash the value of gold, and the value of bitcoin. they dont need either to reach sky high levels to make a mint, as they already basically own all the value in the world, they just need to protect their position. Edited February 26, 2020 by jiltedjen Quote Link to comment Share on other sites More sharing options...
Crashley Banjo Posted February 26, 2020 Share Posted February 26, 2020 On 20/02/2020 at 17:45, reddog said: I do get the point that we have Corona virus etc. But I would have thought that was already priced. Gold has shot up again today, you almost wonder if someone knows something we don't know! https://www.google.co.uk/amp/s/www.cnbc.com/amp/2020/02/24/gold-markets-coronavirus-in-focus.html Gold surges to 7-year top as pandemic fears spark safe-haven rush Investors view gold and other assets like government bonds and the U.S. dollar as safe havens during times of stress. The curve inversion between the 3-month and 10-year U.S. Treasury bond yields deepened, in what economists view as a recession signal. The benchmark 10-year Treasury yield fell to its lowest since July 2016. Quote Link to comment Share on other sites More sharing options...
Crashley Banjo Posted February 26, 2020 Share Posted February 26, 2020 2 hours ago, jiltedjen said: they dont need either to reach sky high levels to make a mint, as they already basically own all the value in the world, they just need to protect their position. Luckily for them some giant diversion always seems to happen when they most need to do so. Quote Link to comment Share on other sites More sharing options...
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