Watching Bloomberg Business TV. Gold showing over $3950. Silver nearing $50 . How soon for the next milestones?
If it keeps to that, I'll be happy, because I'll get to sell off a bunch of stuff at the November coin show while we're still hitting record highs. FOMO on selling opportunities is getting unbearable.
I just sent a note to my coin shop buddy. Just teasing with him and saying I was going to unload my safe and bring him all this silver and gold I been piling up all these years.... He was excited about it! Just wow....
The real question is what will the unrealized gain be for precious metals over the next 1 year, 3 years, 5 years compared to other investments. Yes gold is up aprx. 45%+- this year but what about next year and so forth. Precious metals will not continue to see these types of gains; would you pay $7000-$8000 an ounce for gold a year from now? I wouldn't. The gains are only realized when you sell.
Yes, that is the problem with PMs like gold...they are NOT "investments" but speculations. Right now, the fundamentals are lined up for gold and PMs. But they do NOT participate in the growth of the REAL economy...don't pay dividends or interest...and today's buyers/holders can be tomorrow's sellers. That's why I buy coins instead of bars or GLD or SLV.....I can at least enjoy them whatever the price of gold or silver is.
