Gold price going up

Hi all. Can any of you explain why the gold price has gone up by £100 an ounce in a month?

I was watching a few financial news channels. And it seems that shares are also going up. Something is not right.

I put a article in the silver section that confused me as well.

I think it is because the Western Central Banks are panicking that they are being left behind by the East who have already been buying more and more gold with the US worthless dollars that they have.

Gold and silver are being bought more and more for investment by young Brits.

But most of the UK buying activity in precious metals is being driven by our ethnic people who live here, they understand what is real money and they are buying it big style today.

CBDC's really are coming to us all this year. They will use FTX theft of $11 billion by a 30 year old idiot, as the reason why they have to protect our money for the people, ha ha, what a joke.

I think a lot of money is moving from crypto to gold too with FTX collapsing and negative sentiment towards crypto

"The total market capitalization of the global cryptocurrency market peaked at over $2.9 trillion in November 2021. As of the end of 2022, that market cap now stands at just $798 billion."
https://www.forbes.com/advisor/investing/cryptocurrency/crypto-market-outlook-forecast/

Obviously a lot of the drop was from crypto prices collapsing or vaporizing, but I think some of the above has moved towards gold in Q4 2022.

denby wrote:But most of the UK buying activity in precious metals is being driven by our ethnic people who live here, they understand what is real money and they are buying it big style today.

Unfortunately most of the young ethnics I know spend money like it's going out of fashion and then they get into debt, e.g. spending £1000 a month on a BMW they don't own, despite still living with parents (Actually, that's probably why they can spend £1000 a month on a beamer)

The old school ethnics get it (Saved money, bought gold, property, etc.), but they are dyeing out now.

I don't talk about precious metals to "real" people (both ethnic & white) anymore as they think I'm some crazy silver foil hat wearing nutjob   !

21C Bullion wrote:

denby wrote:But most of the UK buying activity in precious metals is being driven by our ethnic people who live here, they understand what is real money and they are buying it big style today.

Unfortunately most of the young ethnics I know spend money like it's going out of fashion and then they get into debt, e.g. spending £1000 a month on a BMW they don't own, despite still living with parents (Actually, that's probably why they can spend £1000 a month on a beamer)

The old school ethnics get it (Saved money, bought gold, property, etc.), but they are dyeing out now.

I don't talk about precious metals to "real" people (both ethnic & white) anymore as they think I'm some crazy silver foil hat wearing nutjob   !

We all are a bit crazy because society has programmed us to use banks, spend to help the economy , and so on. Having physical Gold , Silver .. heck any precious metal as a lump verse having it as Jewellery or something like that it just crazy.... well no... it is honestly one of the best things you can do. Some moan about not being able to sell it quickly. Again that is a bit of a fake situation. It is a case of pricing. Most want to get the highest price on EBAY but have to realise that it really boils down to what spot is and what a dealer is charging. NO dealer will overpay. And Spot is as good as you can hope for. Again there are many variables in this situation.

But walk into a bank and ask to take out £50,000 or even £10,000 Seriously Do that in Dollars, Pounds where ever it is you are. And you will be shocked that the banks just can not do it. I recently was told that someone deposited a large sum of money into a bank... Ok it was 1 million dollars in CASH! And the bank and its staff closed the bank.... because they do not handle that amount of money. They closed it for their safety.... and spent all day dealing with this one person. Ironically they do a lot of transactions... And have no problem doing things electronically. BUT OMG Physical CASH.... LOL Again just something to think about.

Admin wrote:... And have no problem doing things electronically. BUT OMG Physical CASH.... LOL Again just something to think about.

Can you imagine the "fun & games" the banking system will have when we go 100% electronic with cash? It'll make the 2008 financial crash look like a walk in the park. They think inflation is bad now!?!

This is why a lot of us like precious metals, cash (especially £2 & 50p coins), physical media, etc.

21C Bullion wrote:

Admin wrote:... And have no problem doing things electronically. BUT OMG Physical CASH.... LOL Again just something to think about.

Can you imagine the "fun & games" the banking system will have when we go 100% electronic with cash? It'll make the 2008 financial crash look like a walk in the park. They think inflation is bad now!?!

This is why a lot of us like precious metals, cash (especially £2 & 50p coins), physical media, etc.

I agree, I think that we would be heading to a China effect where the Government could essentially control what you spend and where. Yikes. This is why Physical wealth being precious metals etc are worth more in my opinion. Yes I dabbled in Crypto. I earned or won as I see it on everything I put on .. But I pulled out and I am soo glad I have done that. As for £2 coins and 50p .. omg ... I have a box that I am keeping everything in and they are all secured too... I just love it.

Cryptos are currently pumping as well, for all the narrative from the US Fed to the contrary it does look like the financial instituions are preparing for 0% interest rates returning.

denby wrote:I think it is because the Western Central Banks are panicking that they are being left behind by the East who have already been buying more and more gold with the US worthless dollars that they have.

Gold and silver are being bought more and more for investment by young Brits.

But most of the UK buying activity in precious metals is being driven by our ethnic people who live here, they understand what is real money and they are buying it big style today.

CBDC's really are coming to us all this year. They will use FTX theft of $11 billion by a 30 year old idiot, as the reason why they have to protect our money for the people, ha ha, what a joke.

Have a look at everything DCG Group owns and imagine the carnage if that did an FTX.

https://dcg.co/portfolio/

https://www.msn.com/en-us/money/markets/central-banks-bought-the-most-gold-on-record-last-year-wgc-says/ar-AA17f8EP

In my opinion there are a number of reasons. the main one being when things start going to sh!t people generally turn to gold or other forms of physical assets to guard against inflation and/or the government stealing their money. Inflation is having a factor, most things that have value are going up. Russia making big moves to go back to gold back currency is also having a big impact as they are buying lots of gold.

The main reason I am stacking more is due to the threat of CBDC, which are becoming an ever more likely thing. In the UK there is currently a consultation on Digital ID and CBDC and practically nobody knows anything about it. Even if they did the questions are loaded in a way to make them difficult to understand.

Keep stacking gold and silver.

Indeed a central bank digital currency is bad news

They will use tax evasion, crime, controlling inflation, etc as the excuse for bringing it in.
But just like paper money, it will be based on nothing but confidence in the IOU

I'm beginning to get the notion all this chaos and the war posturing is down to the battle for what global financial system is to be used going forward. The West want their way to continue but they are completely insolvent and it's all in need of a "reset". The East and others have realised that if the Western unbacked hyper financialisation model is allowed to continue there is no way any aspiration from them can ever be reached so are seeking a different path. It's undoubtedly going to get nasty as things progress and I don't think war will solve anything for the West as it will emerge that proper industrialised nations will always beat financialised nations when it comes to the harsh reality of war.
What will always scupper globalism is the sheer scale of the project, it's like a team of decorators trying to decorate a huge mansion, by the time they get to the last room the first room needs done again.

ArcaneCollector wrote:Hi all. Can any of you explain why the gold price has gone up by £100 an ounce in a month?

The bank crashes will effect the price of gold positively - https://en.wikipedia.org/wiki/2023_banking_crisis

The first one this March did - https://www.bullionbypost.co.uk/gold-price/gold-price-chart/

I expect there will be more this year, so good time to buy in at the beginning, and sell a couple of months later when everyone forgets about the crisis.

I don't think CBDCs will safely scale for Joe and Jane public.