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Gold at all time high in UK as Pound Tanks

Discussion in 'Money Matters' started by KeithAngel, Jul 30, 2019.

  1. Bootsonground
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    Bootsonground Guest

    An easing in tensions between the US and China over trade has helped global equities markets to recover sharply over the past month, driving the FTSE 100 index of top UK companies to the highest levels this year. Expectations of major central banks cutting interest rates has also fueled a sense of optimism in share dealing rooms. The weaker pound has also driven the FTSE 100 higher, as many firms in the blue-chip index make the bulk of their earnings in foreign currency. The FTSE 100 has risen by about 200 points in the past month to trade around 7,670.

    https://www.theguardian.com/busines...xit-vote-affected-the-uk-economy-july-verdict
  2. Bootsonground
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    Bootsonground Guest

  3. KeithAngel
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    KeithAngel 2063 Lifetime Member

    Most of the big players get paid in dollars

    The stock market world wide now is the next big bubble lets see if the world can print its way out of that.

    Free Markets love capitalism untill they all face bankrupcy then they become socialists :)
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  4. KeithAngel
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    KeithAngel 2063 Lifetime Member

    do tell mark in what way did the banks not socialise there bankrupcy?
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  5. KeithAngel
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    KeithAngel 2063 Lifetime Member

    Current Price £1,185.82
    Week High £1,192.98
    Week Low £1,143.82
  6. Dave_E
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    Dave_E Well-Known Member Trusted Member

    Last edited: Aug 2, 2019
  7. Dave_E
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    Dave_E Well-Known Member Trusted Member

    Last edited: Aug 2, 2019
  8. KeithAngel
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    KeithAngel 2063 Lifetime Member

    Not selling any time soon Dave could get to £1500 an ounce soon:)
  9. Bootsonground
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    Bootsonground Guest


    Sounds very much like a private owner for profit strategy..
    That makes you a Capitalist!
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  10. KeithAngel
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    KeithAngel 2063 Lifetime Member

    Makes me a saver that doesnt believe in bubbles
  11. Bootsonground
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    Bootsonground Guest

    You lived your whole life in a bubble.
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  12. oss
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    oss Somewhere Staff Member

    So have you, just a bubble with different dimensions.
  13. Bootsonground
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    Bootsonground Guest


    Incorrect..
    I did once live in a bubble back there in the UK and it was a horrible experience for me personally.
    Believe it or not,there was once a time when I believed all about the investments and pension garbage/lies that they spewed weekly.
    That bubble burst many years ago and now I am free!
  14. KeithAngel
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    KeithAngel 2063 Lifetime Member

    Your free to burn plastic and keep your mouth shut where you live:)
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  15. Markham
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    Markham Guest

    So that's your idea for promoting freedom of speech, is it? If I were Boots I'd tell you to crawl back into your box and hopefully someone will nail the lid firmly this time.
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  16. KeithAngel
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    KeithAngel 2063 Lifetime Member

    None of you had or have free speech in the Fils
  17. Markham
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    Markham Guest

    Didn't I? There again I don't go out of my way to upset my hosts nor do I believe that "free speech" means that one can say anything to anyone at any time.
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  18. Dave_E
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    Dave_E Well-Known Member Trusted Member

    If you are buying and selling gold, you are an investor not a saver.
    • Saving is setting aside money you don’t spend now for emergencies or for a future purchase. It’s money you want to be able to access quickly, with little or no risk, and with the least amount of taxes. Financial institutions offer a number of different savings options.
    • Investing is buying assets such as stocks, bonds, mutual funds or real estate with the expectation that your investment will make money for you. Investments usually are selected to achieve long-term goals. Generally speaking, investments can be categorized as income investments or growth investments.
    https://www.smartaboutmoney.org/Cou...g/The-Difference-Between-Saving-and-Investing

    Glad to be of assistance. :like:
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  19. KeithAngel
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    KeithAngel 2063 Lifetime Member

    Its a mute point given that UK gold coins have a face value can be instantly cashed for fiat currency are Vat and Capital Gains excempt & have acheived more than 20% in the last quarter

    Current Price £1,185.25
    3 Month High £1,193.22
    3 Month Low £974.59
    3 Month Change £+208.70 (21.38 %)
  20. oss
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    oss Somewhere Staff Member

    It's just an example of a commodity holding its value while a currency tanks, the same is true in a slightly different way regards the stock market at the moment, the only reason it is appreciating in the UK is that the currency is tanking and many of the companies that constitute the FTSE 100 earn overseas, it's the overseas earnings that hedge against the currency problems in the UK.

    Right now thank god that's happening, otherwise I would be in the s**t.

    In other words globalisation is protecting my investments, god knows what will happen as the country becomes more and more insular in future and likely forces business to become more insular as well.

    The majority who don't have the opportunity to make investments just lose out as their currency is devalued and the inevitable inflation eventually ruins their lives.

    Gold's value though is really a bet on global issues, it's high because people are scared globally.
    Last edited: Aug 4, 2019

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