Not so much hurt, but itch like poison ivy. The scabs where you claw your hide off do hurt afterwards though.
Real estate trades infrenquently, not sure why Zillow is updating daily. Gold and real estate tend to move together but it's more related to outside factors rather than any relationship between the 2 asset classes.
Up $150 even on a day when risk-on Tech stocks are back in vogue. Gold just looks like it wants to go higher: no sellers, lots of buyers. Not sure we've see anything like this since the 1970's and that was an anomaly: 40 years of fixed price controls on gold...end of the Bretton Woods monetary system....inflation...gas lines....legalization of gold ownership. The damn thing just will NOT allow folks who missed out to get back in at a decent correction level.
Physical gold is too high for me. The time and effort (and lost premiums) is not something I want to deal with right now. One of the main issues is the 1oz price, so I would buy fractions. I've bought fractions but stopped last year. But I am buying gold though in a Fidelity Gold Portfolio (mostly miners), all traded via my brokerage account. I can't ignore the gains one those: my March 6th purchase is up 82%, June 6 up 42% .... it's crazy. Good thing is, if I want out I just sell it and later that night it gets cleared. This isn't gold stacking for me, just gold performance to buffer my retirement/investment accounts. It let's me throw smaller $$ amounts to it, which unfortunately due to the oz price is what I prefer.
We've been saying that for about $2,000 of this rise. If it goes to $5,500 in a year and then comes back to $4,500.....well, then waiting did squat. We're entering the seasonally strong time of the year but have already had a good year. If the peak hasn't been seen yet for 2025, then early 2026 -- FUN, Chinese New Year, Indian holidays, etc. -- should see it. A chart showing what month of the year gold/silver have peaked would be interesting.
I still (naively?) expect to see $2000 again in my lifetime. Okay, maybe $2500. Not based on sturdy analysis of fundamentals, just on what's happened after previous price spikes. ($670 in Sep 1980 to $290 in Feb 1985, $1826 in Aug 2011 to $1060 in Dec 2015). I could be wrong, but I'm not loading up on gold at these prices. I am thinking of selling into the spike, but don't know if I will. I'm not sure where else I'd put the cash at the moment.
I am cashing in an ounce Saturday and I know exactly where I’ll be putting the cash….. Coins at the coin show!
Those were spikes coming off really depressed levels. Gold had been price-fixed for 40 years when it went up 20-fold in 9 years in the 1970's. It really "bottomed" at 10x the price from liftoff, which shows you just how undervalued gold was in 1971. It was still $300 in early-1979, the rest of the move up was the spike up into the 1979-80 inflation vortex culminating in the October 1979 Volcker money supply announcement only 2 months after his appointment. We went to $1,800 in 2011 from several years of treading water at about $300 give-or-take. We were there for 4-5 years....if you use $400 as the level, we were there for 2 decades !!! So once again...a multi-decade (or multi-year) basing at a depressed level explains the subequent 6-fold increase in the gold price to $1,800. Now....to the present. Let's assume this bottom was $1,000 or thereabouts from the early-2010's although you could also claim $1,500 from the late-2010's. If we assume similar runs up you are easily talking $4,000 (achieved) to $6,000 on a 4-multiplier. Use a 6-handle (the lower of the previous run-ups) and we have $6,000 and $9,000. Do the math on a 10-fold move up...I'll throw out the possibility of a 20-fold increase as that was a historic, monetary, inflationary, and exchange rate anomaly. Remember, we went up 20-fold (or 10-fold if you are conservative) in the 1970's and 6-fold in the 2000's. The time to load up was $1,500 and below but gold still could go up nicely from here. We could be at the equivalent of $300 gold in 1978. The key will be institutional buying from CBs and other big buyers (SWFs, super-rich, asset managers, etc.). Competition from Bitcoin/crypto is more of a sideshow. If CBs turn into sellers and decide they want more Dollars or Euros or Yuan or Yen and less gold, then throw out all my multiplier crappola, gold is going down as steady sellers keep hitting the bid (think 1990's and all the false-starts). I don't see that right now. The Big Boys are BUYING so when you add in investment and retail demand, more buyers than sellers. Even if CB's were net neutral, I think gold goes up though at a less feverish pace. Look at Indian retail buying trends over a long period of time (see below); right now they are at 800 tons per year....tends to double every 15 years or so....still a per-capita GDP 1/4th that of China and China is 1/7th of ours. Then add in another 2 billion people in Asia, Africa, and South/Central America....they all won't be buying crypto and Bitcoin on Robinhood. What this means is as they get wealthier over time, more demand for gold (offset of course by the rising price). Still, we are talking millions of buyers every years materializing to take up stagnating gold supply.
Was just at the grocery store...spent $50 more than usual and got the usual items for the week. So you are waiting for a correction to back up the truck?
Two years ago a former stockbroker who knows PM said DO NOT SELL, HOLD. That was about 70% lower in the rear view mirror back then. We listened, and I'm still stacking silver although in collector grades and not culls.
When gold started climbing up from $800 / oz ppl who usually invested in Oil, turned their money to Gold. So I started buying gold myself but I preferred it in US coinage + ASE/AGE/APE. Wish I bought more ... food, housing, kids and life tends to cost too much. lol My education was as an economics with several classes about the stock market. Great information it gave. This was back when the DOW was under 2,000 though and the market landscape was far different. Not all buys are winners though but I made plenty from FB, SQ, Apple, and many others. The Gold miner's investment was basically understanding that many Central banks were buying so might as well jump in and go for the ride. I didn't want physical gold/silver so thought I would buy a fund. It's nice watching those % jump so much. Now I have to watch when to jump ship before it sinks.
I'm not a guy who wants to bet on gold. I just want some exposure and I like to play that exposure through coins. So for me, when I have the $$$ and find a coin I like, then I'll pounce. Most civilizations have used and collected gold. So I think over the next few decades you will have millions of new buyers every year. Some might only be able to afford 1/10th of an ounce...others will be able to buy a few ounced. It all adds up !!
I need to get out to the gold claims and get the paperwork in the discovery markers. They see who's been out there claim jumping We usually find a few people, But with the rise in gold prices it's bound to be a few more this year I'm Not going to be as nice as usual...I'm going to collect what gold they found on our claims before they get told to leave.