Gold Keeps Pounding Away!!

I don't see many similarities. That doesn't mean it CAN'T end the same way, but I see underlying fundamentals as totally different:

• That move was faster and higher from a lower base.
• European Debt Crisis was real but a poor second act to the 2008 Financial Crisis
• Yields on competing instruments (stocks, bonds) were much better. Markets were weaker.
• Yields on competing instruments today are much worse. Markets are much stronger.
• Silver, which reflects retail speculation, was in the $40's. Today it's in the mid-$20's.

It's like comparing the move in the NASDAQ today vs. 20 years ago. Yeah, similarities but the fundamentals of the stocks then and now are totally different (eyeballs then, cash flow and market dominance today).

 

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So we finally saw $2000 Gold prices. Silver is nicely going up too. From just earlier this year it was $11.70 and now $26.70. 2.28 times higher than 5 months ago is one of the best increases I've seen in years.

 

You're using a depressed March low price, right ? That's a bit unfair.

Use a moving average or pre-March prices of about $18. After all the years of declines since 2012, a 33% move isn't that much.

Silver went up 3 years in a row before the 2011 blow-off and those moves were 70%, 50%, and 30%. It was up 9 out of the previous 10 years. That was a big run preceeding the blow-off.....silver's been DOWN 6 out of the last 8 years heading into 2020.

 

Up another $20 today....spot and futures....$2,060 on spot bullion.

 

When Silver was at 11.70 I couldn't find any no where at 11.70 there was a premium on.. spot was 11.70... that was all.. But had purchased for several years before between 15-18 dollars and though I thought I would load up at 11.70 not the case at all.. I am not using a depress March
GoldFinger1969 BUT AN AWESOME AUGUST....

 

If you can't buy physical silver (or gold) at a depressed price, then just buy SLV or GLD (or IAU) and lock in the price that way.....when you get your coins or bars or whatever, sell the ETF.

This way you lock in the price with no premium and liquidity is not an issue.

 

OH, alright I just got schooled

 

I'm surprised nobody has mentioned the little dip gold took today! Not a huge dip at $2030 right now! Anyone buying on the dip? j/k

 

Staying still. No market goes up forever.

 

Markets may not go up forever but the printing press makes it seem like there are infinity dollars as long as there is ink in them.

 

You got that right and this dip was expected by most everyone anyways. May even dip a bit more for a few days, we'll find out!

 

Gold went down today and so did Apple. Both have had monster runs. Silver too.

 

Key was closing off the lows Friday and OVER $2,000.

 

Wow.....latest 13-F filing shows that Warren Buffet and Berkshire Hathaway sold bank stocks and other cyclicals and bought Barrick Gold, a bet on higher gold prices.

Small potatos for WB and BRK, but still a noticeable move. He's always been dismissive of gold.

 

Considering some of Buffet’s recent buys, it might be time to sell gold with both hands.

 

I'm okay holding, surprised to hear about Warren Buffet but he's in a completely different world than I'm in! My only regrets as far as gold is concerned is owning mainly numismatic coins as opposed to bullion coins. No matter where the price goes, it's gonna be difficult for me to sell many of my smaller coins, I already know that!

https://finance.yahoo.com/news/berkshire-makes-bet-gold-market-213804384.html

 

What kind of coins do you hold ?

MOST of my coins are probably silver and numismatic...but the bulk of the INVESTED DOLLARS are probably in bullion and Saints and Liberty's.

You may have to discount for liquidity reasons, but I would think gold coins should have a market. But yeah, aside from gold bullion coins and Saints/Liberty's, you may have an LCS that won't bid fairly on some obscure gold coins that are way above bullion price.

But there's always the online sellers........

 

Gold coins, I could easily sell but I don't want to is what I'm saying. It's gonna be hard for me, that's why I'm really hoping for that $3,000 an ounce price tag! That would definitely make it easier!

 

Well, I personally think you might have a chance.

I see the political whackos and 70-IQ nut jobs in California are proposing a "wealth tax" that will only hit "The Rich" (defined as anybody with more than 1 smartphone and an IRA). Needless to say, it won't be paid by many of the folks who voted in the present incumbents.

Anyway, more of that stuff happens or talk....and you'll be posting here crying about selling your gold at $3,000 and ounce and wondering if will dip back to the low $4,000's where you can get back in.

 

Maybe you're right, actually I hope you're right, $4,000 sounds great to me!