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1979-1984
1989-1991
2006-2019
This is not looking good for gold as we come up to inflation news. if it goes down after 30 seconds you know where the futures chart gaps are.
Forget all that- US CPI data in a few mins ago, that’s why gold has now risen up to 2027 as I type plus markets up…
They liked the drop in the inflation figure. Gaps remain.
And again- charts wrong,
The data creates the charts NOT the other way around
Steve,
The data move made little sense for gold to push higher in my opinion. Anyway I took profits from 97p to early on 109p 50% sold, but it was a double dipping play anyway. Managed to use all my CGT last year. Unfortunately the allowance is only £6,000 this year. All the best. Tony
But my point is that the charts remain a complete coin flip- the vast majority of traders lose money and the vast majority use charts. I've used several trading platforms over the years, and the millions of people who post chart data is endless- all that happens is the vast majority lose- it's worse than flipping a coin. As I said before, algos are way more advanced than years ago, it's a simple way to mop up all the money from the chartists... I repeat, worse than coin flipping...
So much for the Tory party claims to be the party of low taxation, in reality they are masters at squandering public money on schemes and scams run by their Tory party mates whilst by the imposing stealth taxes on the majority of ordinary people!
https://www.moneysavingexpert.com/banking/tax-rates/
https://www.moneymarketing.co.uk/news/chancellor-halves-cgt-allowance-to-6000/
https://www.gov.uk/government/publications/reducing-the-annual-exempt-amount-for-capital-gains-tax
Government has wasted £26.8 billion under Sunak’s watch
https://www.independent.co.uk/news/uk/labour-rishi-sunak-chancellor-government-ppe-b2291581.html
Dominic Raab’s department wasted ‘staggering’ £238m on array of botched projects, according to new figures – an increase of 14 times on the year before.
https://www.independent.co.uk/news/uk/politics/dominic-raab-moj-waste-justice-b1988526.html
https://hansard.parliament.uk/Commons/2022-02-01/debates/151F8D55-94D6-408A-88CC-970D350C6F9D/TacklingFraudAndPreventingGovernmentWaste
mrtibbles
while we are on this conversation I would add.
What happened to all the millions if not billions the Tory where awarding to ghost covid related companies, in 2020 and what happened to BBC coverage on that.
If they at least would collect taxes only via VAT and not personal income, it would be a fearer society, where more money you have to spend and more you pay taxes.
More over that is when they could control and effectively implement policies. No real need to making many laws really, just put up or down a VAT on items that you want to promote or prohibit and the Gov. job is down....but then again can you imagine how many Ministers would be queuing at the unemployment office?
Hi LuckyLuciano,
You may find this link of interest,
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Full Fact fights for the right information to reach the people who need it most, whether that’s individuals making decisions about their health or who to vote for; or politicians debating the future of our country.
Our principles are simple. Anyone making serious claims in public debate—fact checkers included—should be prepared to:
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We fight bad information in different ways. First, we fact check claims made by politicians, public institutions and journalists, as well as viral content online. We all deserve information we can trust.
https://fullfact.org/
Hi mrtibbles
Thanks for the link but...no thanks.
Your link seems to have "org" extension and I wonder who is paying the bill of this organization.
Freedom of speech is a very much grey area, hopefully will never be regulated.
I wouldn't like that even a simple personal opinion, get policed by someone that as the means to prove differently, based on past information. Noting would change and the world would become more and more polarised by economic interest.
I do agree though, that the owners of social medias and those whom facilitate similar platforms, would take some responsibility for the negative consequences their platforms cause, to the lives of some individuals.
My apologies for the off topic on (gold chart).
Hi Lucky,they are a registered charity and as such have to be impartial
https://fullfact.org/about/impartiality/
1989-1991 is the only gap remaining.
The one I mentioned that was lower was a misread and apologies for that error. The gap to 2005-2019 got closed. Small 2 dollar gaps may not necessarily get filled for awhile.
The breakout the day before had to retreat today. I retained all positions as the miners report soon and that may influence how they get rated afterwards.
There was no "had to" about it. It's funny how chartists forget when it's doesn't happen and pipe up IF it does- the tealeaves lol- the volatility was very good over the past few days and great opportunity to make money- the data points made profit making possible, not the chart- had I listened to the charts I'd have made nothing as it was the same now as it was- so, as I say, the charts are useless for trading, this is more clear, up to date demonstrable evidence, that it is worse than flipping a coin.
There’s more gaps left unfilled than potholes in roads…
Gaps mean nothing
Yes they just have to be impartial, they would in no way be motivated to align themselves with the interests of the parties who provide them with the funding they require to operate. Maybe ask them to check the definition of naivety?
Be interested to see your proof on your accusation of political party funding?
FullFact aren't funded by any political party and if you care to check the you will find they offer analyse and check statements and policies from all the political parties and media channels.
As for being naive then Spoonington possibly you might like to reconsider if your views on Mr Putin and his war crimes in Ukraine?
Strange how Spoongton is always right but never offers any credible evidence or even evidence at all to support his statements?
lol
No doubt this tread is becoming confusing, I am trying to understand if political parties and freedom of speech, has something to do with gaps in POG...
Sticking with the post headline, imo "gaps" in a price chart are only relevant when unjustified.
Not every gap get filled, apparently depending at what stage of a price action it forms...but no doubt a price gap where the fundamentals/data are not justifying the price value, are more likely to get filled.
The only gap I see on POG is on the 12 March and is a very tiny gat $1.45 hour or $1.40 day (this from my chart platform data, been investing.com)
Who knows if POG will go so low, if Friday little drop is due to good financial numbers from bank, overshading bad retail sales, imo its irrelevant for POG and the drop can be a healthy correction.
To close this tiny gap POG needs to drop to $1874.25, implying USD Index back at 105 levels
I did not mention “political” parties in anyway so maybe read things more carefully before entering into your rants - I have looked at where they receive their funding from & surprise, surprise the ideological leanings that are evident in their “unbiased” presentations match those of the major funding parties.
Credible evidence is right in front of you in the form of facts and actual occurrences. Just because you choose to ignore these as they do not fit with your preferred narrative does not mean I will feel motivated nor obligated to educate you - seeking truth & thus a proper education is primarily a personal responsibility.
Hi LuckyLuciano, possibly not confusing , but far more intentionally complicated ,complex, corrupt and politically influenced than the privileged shadows that pull the levers behind closed doors would like us ordinary mortals to realise , or even worse question!
But how ridiculous that the fate and livelihoods of so many of the world's communities should have become so dependant and influenced to the good or bad by the announcement of some manipulated figures on the first Friday of each month supposedly providing the total monthly increase or decrease in paid U.S. workers across most businesses!
Increasing numbers may show economic expansion but may also give investors reason to be concerned about inflation and decreasing numbers suggest a broader economic concern.
How could the privileged position of the USA and it's dollar backed up by nothing more than a paper promise to repay ever more debt with yet more unbacked paper carried on for so long?
Trump's misguided notion of imposing tariffs to trade with the US because the rest of the would was taking advantage of the US has exposed the truth that exactly the opposite is true and this will accelerate the demise of the dollar as the world's reserve trading currency and should help bring about a fair price for gold.
The UK is is much the same position as a result of a bungled and disastrous Brexit led by those inward thinkers who put heir own greed and self interest first , but now the reality is apparent the UK has lost trade, jobs, workers, civil liberties, freedom of travel and most of its influence on the word stage being now regarded a non entity by many other nations!
The sham of the London Metal Exchange is out and its now desperately trying to save it's self from going down the pan as it is forced to comply with Basel 3 by playing fairly!
But once again thank you for your thought provoking posts to this debate!
Hi Spoonington,
Be very interested to see your evidence in support of your claims?
Have a nice day !
Your old mate Tibbs!
Hi mrtibbles
Just to connect your thought on US job payroll, with something posted on the other tread about USD been a Fiat currency.....
Indeed the $ may be a Fiat currency, but the purchase power of USA citizens is still much greater than many other Countries. So is not only the unemployment rate that create inflation, but also how much more USA citizens get paid.
Incidentally with the U$D been the world currency, the Fed and Co. are able to control more directly and efficiently the US finances. Risky business going against the free market, when you have 150% of GDP in private debit.
The UK is expected be the only country to shrink this year across all the advanced and emerging economies. Even sanctions-hit Russia is now forecast to grow this year.
Paul Johnson, director of the Institute for Fiscal Studies, said that the IMF's forecasts were not always right, and he noted the fund was "actually being more optimistic than it was a few months ago".
Forecasts from the Bank of England due later this week are likely to be more positive than they were two or three months ago, he added.
"My best guess is that the economy will be broadly stagnant this year. That we're not going to get much in the way of growth but we're not going to have a deep recession either," he told the BBC's Today programme.
"Now that's not great, particularly as we should be bouncing back more strongly from Covid and particularly as we've not been growing terribly well for the last decade and more."
https://www.bbc.co.uk/news/business-64452995
https://actionnetwork.org/petitions/break-free-from-fossil-fuels-to-bring-down-food-and-energy-prices/#01