Gold - What Happened?

I used to watch these charts religiously. Found that was a source of stress so now I take a look maybe once a week. Looks like we have fallen in the neighborhood of forty bucks an ounce since last week. Seems a fairly dramatic swing in a weeks time…… But then again, there isn’t much normalcy in the world right now…..

 

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I found it to be a source of stress as well. Same with silver and stocks. I only look at prices every few months.

 

My bad. I bought some.
Silver went down a couple weeks ago because I finally bought some of that, too, after holding off for almost 2 years, because it was ‘too high’, lol.

 

That was basically a one day drop Randy. I noticed it by accident as I don’t look at the price all that often.

 

Could you let us know when you are going to buy again so we can wait a day or 2 for it to drop again and we will buy? ;-}

 

As noted, a good jobs report was most likely the driver of the drop. An emotional reaction, not one based on a long term inflation probability, thus not holding gold as protection.
I notice that the new alternative safe haven, crypto, did not drop, though.

 

Day by day fluctuations can only drive you nuts...Markets have been flat for several months now and will likely stay that way til winter. The real numbers come once a year when you know if markets faired well or not.

 

Will you do me a favor and let me know next time you plan to buy?

 

For me the answer is simple. I bought some gold so it went down in price. I think this is temporary. Looking for next week's market.

 

The way I see it, investors are betting that returns from other investment options will be sufficient to outpace inflation and generate positive real returns. I question this logic, given the huge increase in money supply of late. Then again, no one listens to me

 

Right brain, left brain, neither listen to me. Oh yeah, my wife too! Comes in threes ya know...

 

Nothing makes sense anymore.

If a global pandemic can't get gold above $2000 or silver above $30, while the stock market sets records when 25 million people weren't working, I guess I'll just wait it out on the sidelines for now!

Oh yeah, forgot to mention inflation at what feels like 20-30%, and PMs tank??!!

 

That's exactly why short term markets don't make any sense.

 

I had a similar experience when I brought a snow thrower and we only had a couple of inches of snow during the entire winter. The next winter I was glad I had the machine.

 

Well….. I’ll give you all fair warning. I plan to wash my truck this afternoon so count on rain tomorrow.

 

Where's the "like twice" button?!

 

I picked the "Best Answer" option for this one, hopefully Randy is on board!

The past 2 months I've held off on PMs in favor of stocking up on spare parts for my old Jeep, (parts that I don't need yet).

She's 23 years old and nearly 100k miles, and parts are getting scarce and expensive. I hope to drive this one for as long as I can still afford gasoline, so it seems like a worthwhile investment.