GGPChat

What on earth is driving this fall of Gold price today? Seems pretty dramatic and the wrong way considering other news. I'm confused.

It's all to do with the hypothetical market of Gold futures. If I told you that you can buy an oz of gold in a year's time for $1863, you may decide not to buy today but to use your capital elsewhere. Of course, there's nothing to guarantee that they'll actually sell at that price in a year's time. Indeed, you may sell today and take a futures contract so you have the capital today.

ALl IMO.

Thanks, I need to try to wrap my head around Futures!

Hi All. If you can buy an oz of gold in a years time for $1860 i will eat my girlfriends cat. Buying a futures contract is just playing with fire. Leave that to the bullion banks. ATB Speedy

speedymeadie wrote: ↑Sun Jul 03, 2022 8:58 am Hi All. If you can buy an oz of gold in a years time for $1860 i will eat my girlfriends cat. Buying a futures contract is just playing with fire. Leave that to the bullion banks. ATB Speedy

Only want to understand them, and how they can affect the market. Wouldn't want to dabble!

Baldylocks wrote: ↑Mon Jul 04, 2022 1:12 pm

speedymeadie wrote: ↑Sun Jul 03, 2022 8:58 am Hi All. If you can buy an oz of gold in a years time for $1860 i will eat my girlfriends cat. Buying a futures contract is just playing with fire. Leave that to the bullion banks. ATB Speedy

Only want to understand them, and how they can affect the market. Wouldn't want to dabble!

Might be worth taking a look at this video. Might be too simplistic but a good starter for 10.

https://www.youtube.com/watch?v=1Mhk4UHJsRc

Hi All. The futures market is full of failed, broke, homeless individuals and a very few billionairs. If you are unable to divide 1993044 by 291120 in your head then the market is not for you. On the other hand if you think the $ is going up and gold is going down then hold $s. I hold gold. ATB Speedy

Gold futures (August '22 contract) just fell below $1,700, a 15 month low.

Copper struggling badly too @ $3.17/lb

Double ouch today. Need a reversal please!

I think we are now waiting for the dollar to pop. - some of the folks I follow are saying this is part of the process.

Hi All. The gold market is false. Govs in the west are pretending to fight inflation but really want high inflation to shave away their debt. Talk of higher interest rates are just that "talk" With so much debt in the world a rise in rates to stop inflation would bankrupt all govs and most businesses and joe public. The real POG should be much higher but the Fed and BIS are acting in unison to drive down the POG to make the USA$ look better than it really is. It will be a very interesting COT report this week and i expect the banks to have covered at least a further 10% of their short contracts. The POG can not be held back much longer and my prediction of $2500oz by end of year still stands. My portfolio consists entirely of physical gold?silver and GGP (and a nice house). I may be wrong and the USA$ will keep its status as the "go to asset" but i have no confidence in that outcome. ATB Speedy