Pound is weak, UK gold price increases
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- Опубликовано: 29 сен 2024
- In this video, I discuss the price of Gold. How the £ pound has hit lows against the dollar which results in higher price for gold for the UK.
Just thinking out loud really my thoughts and showing my Journey.
I am not a financial advisor, this video is for entertainment purposes only.
email: averagestacker@hotmail.com
february 2022 £1592 was the all time gold high
It's great and not so great at the same time. 🤣. It's near that price right now. But in dollar terms it's not near the all time highs. Thanks for stopping by
Tip ! get your £cash out of the banking system
Thanks for the tip, but what if you want to buy a house or a car? We need the banking system for that?
Meaning to get another sov but since the queen died premiums are more like 6-8% rather than the 3.5% I used to pay. Also no doubt when the first Charles one comes out it will get worse. Any recommendations?
I don't think I can recommend what to do as your situation might be different. For me, I am in the same boat assuming you talking about 2022 sovereigns, I'm just playing the waiting game because I have the proofs. I just want some 2022 bullions. Tough choice but as im not really a sovereign collector until this year, I don't feel the great connection, which is why I went for the 1/4oz lion of england, but tbf looks like everywhere the sovereigns are selling out and I was hoping to buy some in November but looks like I won't be able to if they are selling out. What is your gut thinking?
Just any sovereign I can get will do that is bullion. Don’t have enough aside for a full ounce and seeing as the DXY is at 20 year highs I see the price skyrocketing when that collapses
Reckon we'll see parity on GBP/USD? Gold has protected well from the £ but frustrating when you are still shopping hard
Its looking that way and not looking good for the £, but my guess it will soon but then rebound (hopefully). Yeah frustrating in the UK but across the pond I think they are liking the cheaper prices 🤣. Seems like UK always get the end of the straw 😭. Cant complain though 😃
A strong dollar and interest rates rising will force gold down we could be looking at 1300 gold 15 or less silver unless a Magor recession happens and a stock crash then its plus 2000 for gold
Getting paid in dollar is a good bet at the moment. 🤣. I think rates has to keep going up to be honest. It will be interesting but alot of pain ahead I feel regardless which way. 😭
As you know I love Britannias. The gold is always a great purchase. Keep stacking my friend. Great video
👍Defo need to get more lol. Thanks sir
Would it be sensible to make an order this weekend before the market opens? I'd been pondering all week whether to buy some gold as a hedge against inflation.
If in US then I wouldn't need to think about it, In UK its near record highs because of the weak £. Depends on how big the purchase is and whether you need the gold or have stacks of it already. Which gold are you thinking of getting? I wouldn't be so sure its a hedge against inflation at this moment. Thanks sir
@@averagestacker I'm in the UK. I've held a small amount of gold for the last 15 years and it's doubled in value. This time I want to put away 20 grand so it will at least hold it's value during the looming crash.
@@WDeranged That is a sizeable chunk and I cant tell you what to do. I can however tell you what I see, gold currently in terms of £ is at its all times high, (Actually surpassed it this morning but back down now.) However thats because of the weakening £ against the dollar, in dollar terms it's gone down year on year. My advice is enjoy the time researching and pondering and don't rush into it, do your research and go with your gut, only you will know what to do Im afraid. Consider also slow and steady purchases to cost average in. Sorry I can't be much more help
It's the same problem for the €.
A strong dollar causes prices to rise. Be it gold, silver and even gasoline.
Yeah, looks like we are feeling it more than america prices.
@@averagestacker In fact, it seems that is the case.
@@NCstacker tbf everyone is suffering, however we shouldn't really complain tbh. 😰
@@averagestacker It is on, there are much worse off than us
The vast addition to the money supply across the west in the last few years especially but also the last few decades is driving the devaluation of currencies. Search m2 money supply for each western currency.
Nice video get the stack stronger 💪🏻
Trying to my friend, it's been difficult to stack cause of summer and the world at the moment. How about you? Assume still stacking big 😁👍
I added some already but my budget don’t let me buy more but little by little the stack is growing 👍🏻
@@ericson5412 I know that feeling at the moment. Has to be little by little at the moment. 👍
I think most currencies are going to see a similar trajectory apart from the dollar and if the demand for dollars to trade with falls the dollar will catch up rapidly
I read a lot of currencies are in the same state as gbp. Dollar is still king.
@@averagestacker yeah I've been watching them over the last year or so and there all falling at different times against each other. The dollar is protected by the demand for them to trade oil and alot of other things. The dollars position is being threatened by brics nations though so that safety net could fall away fast. All western nations have increased there money supply alot since 2000 and drastically more during covid. The value of a currency is based on the money supply and the value of goods and services of the country (profits, gdp). Search m2 money supply for western currencies and then look at gdp growth over the same time in each country. Our currencies are set to nosedive IMO
@@ricardosmythe2548 Thanks mate, the money supply has also increased a lot in china, also they have a crisis with housing industry at the moment. I believe its a world crisis soon 😭
@@averagestacker no doubt. Where it'll lead is something I'm not sure about. I've herd alot of ideas floating around concerning Central Bank based digital currencies. I don't think people can go wrong holding physical assets at the moment despite the odd behaviour of some of there prices.
@@ricardosmythe2548 Yeah, the future is uncertain thats for sure.