warpig Posted September 23, 2022 Share Posted September 23, 2022 On 21/09/2022 at 07:33, Crashley Banjo said: Well that’s my plans down the toilet then. Now I know why certain other “assets” have gone up in price so much Seems not all gold is the same... my mortgage lender is OK (in principal) with gold now they know it's held in UK legal tender... Britannias... awesome! Quote Link to comment Share on other sites More sharing options...
warpig Posted September 23, 2022 Share Posted September 23, 2022 Thanks Liz 🤑 Quote Link to comment Share on other sites More sharing options...
warpig Posted September 23, 2022 Share Posted September 23, 2022 On 21/09/2022 at 12:16, Pop321 said: Agree completely. If someone gets their mindset right basically Gold is passive....its all the other stuff that makes our perception of it 'rise and fall'. It protects. Biggest issue on house prices will be finance costs and mortgage availability. I think we have over shot on house prices but the decline will be reflective of the increases we have seen. So in your case if £390k is fair value and if your house is even a stretch now at £450/500k it still might NOT drop alot. However....that little flat in London that has gone from £264k in 2003 to maybe £1.5m....then they are in trouble. Home.co.uk: House Prices Report for London - January 2003 to June 2022 Yep... those that have risen the most, will fall the most for sure. 👍 Quote Link to comment Share on other sites More sharing options...
warpig Posted September 23, 2022 Share Posted September 23, 2022 3 hours ago, headmelter said: The flight to PM's has begun in the UK, IMO. It does look pretty good in GBP to be fair... imagine what it will look like when it starts rising in dollars as well... double win! Quote Link to comment Share on other sites More sharing options...
Blobsy Posted September 24, 2022 Share Posted September 24, 2022 (edited) Not bought phys for a long time but just checked out the price, a sov now over £400 jeezo! I never like to buy at ATH but all is going to shit here in uk. Might get some with Charlie on to go with the rest of my collection Edited September 24, 2022 by Blobsy Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 24, 2022 Share Posted September 24, 2022 4 minutes ago, Blobsy said: Not bought phys for a long time but just checked out the price, a sov now over £400 jeezo! I never like to buy at ATH but all is going to shit here in uk. Might get some with Charlie on to go with the rest of my collection £400 no way! Get your coins from here (£382 currently but could be higher after Monday am fix): https://www.goldinvestments.co.uk/product/buy/buy-gold-coins/sovereign-2021/ They're very good, have bought from them numerous times both collection and delivery. Use code "maneco64" for a slight discount. Quote Link to comment Share on other sites More sharing options...
Blobsy Posted September 24, 2022 Share Posted September 24, 2022 1 minute ago, nero120 said: £400 no way! Get your coins from here (£382 currently but could be higher after Monday am fix): https://www.goldinvestments.co.uk/product/buy/buy-gold-coins/sovereign-2021/ They're very good, have bought from them numerous times both collection and delivery. Use code "maneco64" for a slight discount. Cheers! 👍 Yea I like maneco64’s channel, watch it a lot. Quote Link to comment Share on other sites More sharing options...
warpig Posted September 26, 2022 Share Posted September 26, 2022 (edited) Very close to a new all time high in GBP... £1,564/oz £1,574.37 £1,578.58 7th August 2020 Edited September 26, 2022 by warpig Quote Link to comment Share on other sites More sharing options...
TopBanana101 Posted September 26, 2022 Share Posted September 26, 2022 I'm really thinking of selling gbp and rebuy usd now. I'm expecting an interest rise before the next BOE meeting now, unless I'm missing something and this was the plan. Gbp/usd partity kills whatever help they gave out imho Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 26, 2022 Share Posted September 26, 2022 44 minutes ago, TopBanana101 said: I'm really thinking of selling gbp and rebuy usd now. I'm expecting an interest rise before the next BOE meeting now, unless I'm missing something and this was the plan. Gbp/usd partity kills whatever help they gave out imho Think you're in the wrong thread... Quote Link to comment Share on other sites More sharing options...
TopBanana101 Posted September 26, 2022 Share Posted September 26, 2022 39 minutes ago, nero120 said: Think you're in the wrong thread... The vast majority of my profit in gold comes from currency plays. I rarely rotate out of the gold market, I buy and sell it on different markets. I assume you are LTBH? Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 26, 2022 Share Posted September 26, 2022 1 hour ago, TopBanana101 said: The vast majority of my profit in gold comes from currency plays. I rarely rotate out of the gold market, I buy and sell it on different markets. I assume you are LTBH? Cool story bro, just saying this is the gold thread not the FX thread. Would be even better if it was the physical (not fake) gold thread. Quote Link to comment Share on other sites More sharing options...
warpig Posted September 26, 2022 Share Posted September 26, 2022 2 hours ago, TopBanana101 said: I'm really thinking of selling gbp and rebuy usd now. I'm expecting an interest rise before the next BOE meeting now, unless I'm missing something and this was the plan. Gbp/usd partity kills whatever help they gave out imho I was reading about how high they're expecting USDX to go, last night. They think it will rise to 116 (currently 113/114) by year end, so there's still some time in the USDX trade. However... if the BOE hike IR's again (I agree with you - that's a distinct possibility) then that `should` strengthen the pound against USD... The only problem with interest rates, is a higher rate is considered a positive for the underlying currency, unless the rate hike is born out of desperation, then it's considered a weakness. Quote Link to comment Share on other sites More sharing options...
warpig Posted September 26, 2022 Share Posted September 26, 2022 3 minutes ago, nero120 said: Cool story bro, just saying this is the gold thread not the FX thread. Would be even better if it was the physical (not fake) gold thread. He's talking about selling gold for USD... not GBP. I've done this tons of times. Gold is a monetary metal... so FX is very much a part of gold's story. Quote Link to comment Share on other sites More sharing options...
nero120 Posted September 26, 2022 Share Posted September 26, 2022 2 minutes ago, warpig said: He's talking about selling gold for USD... not GBP. I've done this tons of times. Gold is a monetary metal... so FX is very much a part of gold's story. GBP is gold now? Ok I'm confused, nevermind. Quote Link to comment Share on other sites More sharing options...
Blobsy Posted September 26, 2022 Share Posted September 26, 2022 13 minutes ago, warpig said: I was reading about how high they're expecting USDX to go, last night. They think it will rise to 116 (currently 113/114) by year end, so there's still some time in the USDX trade. However... if the BOE hike IR's again (I agree with you - that's a distinct possibility) then that `should` strengthen the pound against USD... The only problem with interest rates, is a higher rate is considered a positive for the underlying currency, unless the rate hike is born out of desperation, then it's considered a weakness. ‘If’ this happens then I’m all in gold with the rest of my cash, I’m not f*cking about any more with these clowns in charge. Quote Link to comment Share on other sites More sharing options...
warpig Posted September 26, 2022 Share Posted September 26, 2022 4 minutes ago, nero120 said: GBP is gold now? Ok I'm confused, nevermind. The price of gold `typically` rises or falls in all currencies at the same time, so there's never `usually` any advantage to selling your e-gold for dollars and buying back your e-stash in USD... it's pretty much a zero sum game. However... if the price of gold in GBP is going the opposite direction to the price of gold in USD, which is happening at the moment... then there's potentially a profit to be made using this trade. He might potentially sit in USD and wait until he thinks the USDX has finished it's meteoric climb around 116 and then buy back in... capish? Quote Link to comment Share on other sites More sharing options...
warpig Posted September 26, 2022 Share Posted September 26, 2022 1 minute ago, Blobsy said: ‘If’ this happens then I’m all in gold with the rest of my cash, I’m not f*cking about any more with these clowns in charge. We are certainly in the monetary end-times... it's just USDX is the best horse in the glue factory. Quote Link to comment Share on other sites More sharing options...
warpig Posted September 26, 2022 Share Posted September 26, 2022 15 minutes ago, nero120 said: GBP is gold now? Ok I'm confused, nevermind. Remember gold's price can change because of supply/demand issues across the globe, but also because of local currency strengths or weaknesses. Right now, gold is mainly moving because of local currency issues, USDX up/GBP down... Quote Link to comment Share on other sites More sharing options...
doomed Posted September 27, 2022 Share Posted September 27, 2022 I have bought some of this useless rock as I had no idea what else to do. Things look bad. Quote Link to comment Share on other sites More sharing options...
Crashley Banjo Posted September 27, 2022 Share Posted September 27, 2022 On 23/09/2022 at 20:58, warpig said: Seems not all gold is the same... my mortgage lender is OK (in principal) with gold now they know it's held in UK legal tender... Britannias... awesome! Ok that’s good news ! 😎 Quote Link to comment Share on other sites More sharing options...
warpig Posted September 27, 2022 Share Posted September 27, 2022 1 hour ago, doomed said: I have bought some of this useless rock as I had no idea what else to do. Things look bad. Getting worse by the day! Quote Link to comment Share on other sites More sharing options...
warpig Posted September 27, 2022 Share Posted September 27, 2022 22 minutes ago, Crashley Banjo said: Ok that’s good news ! 😎 Yeah fingers crossed... It's still subject to the underwriter giving the thumbs up during the application... but I have it in writing from another underwriter... it's golden! Quote Link to comment Share on other sites More sharing options...
Timm Posted September 27, 2022 Share Posted September 27, 2022 2 hours ago, warpig said: Yeah fingers crossed... It's still subject to the underwriter giving the thumbs up during the application... but I have it in writing from another underwriter... it's golden! What are you buying? Quote Link to comment Share on other sites More sharing options...
warpig Posted September 27, 2022 Share Posted September 27, 2022 19 minutes ago, Timm said: What are you buying? A house. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.