smuf-ww Posted March 4 Share Posted March 4 6 minutes ago, reddog said: Why has gold gone up? Has there been any particular news? I would have thought the insane levels of deficit spending, wars, etc. were long known about!! Yes there's an abundance of news.... a long drawn out affair that picked up pace around 6 months ago. The fed are trying to get out of the $ and are deliberately funnelling money into just about anything they can to destabilise the financial system. The fed needs the $ to die to relinquish US debt. Other western countries are working in syndicate. Most of the freshly printed money is going into stocks and crypto but some of it is finding its way into gold. The fed don't like ordinary people increasing their wealth through gold one bit but will tolerate it until they've had enough then digitally monkey hammer it back down. Of course you won't be safe in the long run in any other asset either (apart from property and particular stocks) but that's another story. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 4 Share Posted March 4 3 hours ago, reddog said: Why has gold gone up? Has there been any particular news? I would have thought the insane levels of deficit spending, wars, etc. were long known about!! It's time. Quote Link to comment Share on other sites More sharing options...
TenYearToGetMyMoneyBack Posted March 4 Share Posted March 4 4 hours ago, reddog said: Why has gold gone up? Has there been any particular news? I would have thought the insane levels of deficit spending, wars, etc. were long known about!! Serious question Has Gold gone up or is it just currencies falling ? I am just doing some tidying up ready for the end of the tax year. In 2006 I bought £100 of Gold Bullion Securities ETF. That is now worth £440 which by my calculations is an annual return of 8.6%. With CGT allowances dropping I think I will Bed and ISA that one. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 5 Share Posted March 5 5 hours ago, TenYearToGetMyMoneyBack said: Serious question Has Gold gone up or is it just currencies falling ? Gold is going up more than the currencies are falling. Quote Link to comment Share on other sites More sharing options...
reddog Posted March 5 Share Posted March 5 8 hours ago, TenYearToGetMyMoneyBack said: Serious question Has Gold gone up or is it just currencies falling ? I am just doing some tidying up ready for the end of the tax year. In 2006 I bought £100 of Gold Bullion Securities ETF. That is now worth £440 which by my calculations is an annual return of 8.6%. With CGT allowances dropping I think I will Bed and ISA that one. Yes, I understand that in the linger term gold is the stable thing and every other currency is falling against it. O was just wondering why gold has gone up a fair bit over the last few days. Quote Link to comment Share on other sites More sharing options...
ftb_fml Posted March 5 Share Posted March 5 35 minutes ago, reddog said: Yes, I understand that in the linger term gold is the stable thing and every other currency is falling against it. O was just wondering why gold has gone up a fair bit over the last few days. Seems gold's growth is "real" as there has been no siginificant movement in USD v GBP in the past few days. While you'd expect gold value to grow in GBP as as out bogroll currency weakens against the dollar, in the past year gold has gone up by 13% yet the pound is up against the dollar by 5%. Given the growing lack of stability in the world and that literally everything seems to be sliding into the sea, I'm surprised it's not higher than it is; although it has doubled in value since 2015. Quote Link to comment Share on other sites More sharing options...
70PC Posted March 5 Share Posted March 5 5 hours ago, warpig said: Gold is going up more than the currencies are falling. An image so I can visualise your point would be helpful. Quote Link to comment Share on other sites More sharing options...
nero120 Posted March 5 Share Posted March 5 I think people need to remember that in this day an age, the price of "gold" is set in the "paper" markets (mainly COMEX futures and LBMA OTC market). The gold ETFs are a side show, merely acting to draw retail capital away from the physical market whilst pocketing a tidy fee. The reason why stawks and crypto have surged recently is not due to any kind of "flight from fiat", it is simply because financial conditions are currently the loosest since the mortgage finance Bubble period! And this, despite the central banks holding rates steady around 5% and selling bonds into the market via QT. Crazy. This is all speculative funny money flooding into casino markets to make a quick buck, there is no fundamental argument to be made, just gamblers chasing their next score. The paper gold price has been rising despite the COMEX net long position dropping to levels not seen since around 2013-2015. Basically, speculative capital has not been buying gold futures contracts lately as much as they were in the recent past. So something else is pushing up the gold price steadily. This could be due to the physical market getting tighter and tighter as central banks have been buying the most gold in more than 50 years decades for the past few years with no sign that it's slowing down. The physical market does have a passing connection to the paper market, but when a futures contract leverages 100:1 ozs paper to physical, the effect on the paper price is not nearly so great. Watching the paper price of gold move up and bit and down a bit is pointless, because all you are watching is the speculative price of some worthless contracts. I doubt there will ever be true price discovery for the gold market as it is a strategic asset and no government would give away control of it's price to potential rivals/opponents, hence why London then New York have kept such a close grip on the price for so long using futures markets, not to mention the rest of the commodity complex (oil, copper, etc). However, what we will see is the physical gold market move to China and other eastern nations, and as that happens the price of gold in those markets will become more and more detached from the paper price in western markets, as they seek to use gold for balancing international trade, as well as their citizens favouring physical gold over paper financial assets. At that point, the price of physical gold in the west will either be irrelevant as you wouldn't be able to buy any (due to arbitrage), or if they allow the price to rise then it will depend on the strength of western currencies vs eastern. Once the western financial markets lose control over rigging commodities prices using futures then we'll really see price inflation roar higher in the west and that's when gold will shine. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 5 Share Posted March 5 3 hours ago, 70PC said: An image so I can visualise your point would be helpful. Quote Link to comment Share on other sites More sharing options...
70PC Posted March 5 Share Posted March 5 45 minutes ago, warpig said: 😁 Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted March 6 Share Posted March 6 Gold and silver really starting to pop again. Wonder how long it's gonna take for them to smash back down? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted March 7 Share Posted March 7 On 3/5/2024 at 3:31 AM, warpig said: Gold is going up more than the currencies are falling. Just not against Bitcoin. I guess there will always be a market for antiquated old men into metals that are extremly hard to store, move, divide, and use as a currency. 🤷♂️🤷♂️🤷♂️🤷♂️ Quote Link to comment Share on other sites More sharing options...
sell2rent Posted March 7 Share Posted March 7 10 hours ago, MonsieurCopperCrutch said: Just not against Bitcoin. I guess there will always be a market for antiquated old men into metals that are extremly hard to store, move, divide, and use as a currency. 🤷♂️🤷♂️🤷♂️🤷♂️ It is interesting that a kilo of gold is similar value to one BTC. If expecting a recession which would you want to hold, or something else instead? Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8 Share Posted March 8 On 07/03/2024 at 01:18, MonsieurCopperCrutch said: Just not against Bitcoin. I guess there will always be a market for antiquated old men into metals that are extremly hard to store, move, divide, and use as a currency. 🤷♂️🤷♂️🤷♂️🤷♂️ When their CBDCs are ready, TPTB will not tolerate BTC any longer. They're going to attack BTC, you know it, I know it, they know it. I'm not saying it will go to zero... but parabolic rises will be met with parabolic falls, it's just a question of when. Don't get greedy. Quote Link to comment Share on other sites More sharing options...
lie to bet Posted March 8 Share Posted March 8 I have always thought of they can't tax it they won't allow it. Bitcoin is very difficult to track. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8 Share Posted March 8 I'd love to know what's driving the current price spike... just up $20/oz in a heartbeat Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted March 8 Share Posted March 8 19 minutes ago, warpig said: I'd love to know what's driving the current price spike... just up $20/oz in a heartbeat Joe Biden. lol Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8 Share Posted March 8 1 hour ago, Dreamcasting said: Joe Biden. lol Looks like it might be US payroll... dollar just took a reasonable hit. Quote Link to comment Share on other sites More sharing options...
Blobsy Posted March 8 Share Posted March 8 I just sold some phys. Happy really as I x3 on it and I need to make use of the cgt this year before the allowance halves yet again in April. Will top up stocks ISA or rebuy sovs if it dips in the next few weeks Quote Link to comment Share on other sites More sharing options...
cnick Posted March 8 Share Posted March 8 3 hours ago, warpig said: I'd love to know what's driving the current price spike... just up $20/oz in a heartbeat Just honest supply and demand at work. Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8 Share Posted March 8 20 minutes ago, cnick said: Just honest supply and demand at work. If only that were true! Quote Link to comment Share on other sites More sharing options...
warpig Posted March 8 Share Posted March 8 I hope everyone's watching the charts... it's moving! Quote Link to comment Share on other sites More sharing options...
ftb_fml Posted March 8 Share Posted March 8 Just breached £1700/TOz for the first time. Calculated some compound annual growth - since £1050 in mid 2016 it's around 6.7%, and £1490 in late 2022 it's around 10%; so it's so far outstripped inflation... as usual on the good days I now wish I'd bought more! Interesting to note that if you ignore the odd spike here and there, growth has basically been linear since the early 2000s. Quote Link to comment Share on other sites More sharing options...
reddog Posted March 8 Share Posted March 8 4 hours ago, warpig said: I'd love to know what's driving the current price spike... just up $20/oz in a heartbeat Isn't it something to do with the US will try to manufacture the latest US job figures into a reason for lowering (already too low) interest rates? Quote Link to comment Share on other sites More sharing options...
Blobsy Posted March 8 Share Posted March 8 47 minutes ago, ftb_fml said: Interesting to note that if you ignore the odd spike here and there, growth has basically been linear since the early 2000s. In other words it’s doing what it is supposed to do/always has done. A store of wealth not crypto bro ponzi. Quote Link to comment Share on other sites More sharing options...
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