Gold and Silver on a Downhill Slope! ¯\_(ツ)_/¯

Surprisingly to many that the price of gold and silver are slipping downward, price for gold is $4660 and silver is down to $64 and change and they're still on a downward trend. With any luck, it goes down a little bit more and more importantly dealers start dropping their crazy friggin' premiums!

https://goldprice.org/

 

Log in or Sign up to hide this ad.

The bubble has well and truly popped.

 

There will be higher highs in the future, even in inflation-adjusted (not nominal) dollars.

I just don't know whether any of us will live long enough to see it.

 

The drop is the calm before the storm.

 

I think that's one (of many) reasons so many people were selling the hype train - if you look at inflation adjusted prices, we didn't get anywhere near the peak of the 1980 Hunt Brother's spike. That peaked at (inflation adjusted) values of around $170. People reasoned that we weren't anywhere near that... and completely ignored the fact that peak was incredibly manipulated.

And look what happened to the price when that bubble popped!

 

I think you misspelled $74.

 

No. It got down to $64.

It is back up on another mini-bounce.

 

I was out travelling most of the day. Yikes. I haven't looked at the intraday chart.

 

I think (and I don't know anything) that by mid March we'll know which way the rocket is headed, stratosphere or back to 40.

https://finance.yahoo.com/news/bank-america-predicted-silver-prices-123002375.html

 

Gold didn't have the hyperbolic increase that silver did. It had a massive run-up, and if it continued would have reached the same hysteria, but because gold is so much mor expensive it needs a lot more momentum. If you look at the 3 year or 5 year chart, you see the beginnings of a hyperbolic rise.

When the silver bubble popped, the gold pimple popped as well. You aren't seeing the same swings as silver, but gold reached a peak and dropped dramatically at the same time.