Gold is Taking a Beating Today!

Price of gold is tumbling downward, it's sitting at $4578 right now and unfortunately it will likely drop more! What are you thinking, no panic sellers please!

https://goldprice.org/

 

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For those who bought their gold before early 2025, that's still a good price, even if it went down almost $500 or so. I would only get worried if it went below $3500.

 

What if someone bought under $500
No Sweating the current environment.

 

As a coin collector, I'm thinking GOOD!

I will be giving a presentation at Summer FUN about the $20 gold piece. The sad part is with the price of gold at $5,000+, most collectors can't afford to buy even a couple of type coins. At the same time, with the wholesale bids flat from EF-40 to as high as MS-64, there is good chance that many old collector coins are going to go to the melting pot. Once they are gone, they are gone; there is no bringing them back. Gold will never be as cheap as it was, but at least this might take some pressure off the melting pot angle.

Even with CAC stickers, I see certified $20 gold pieces in decent grades like MS-62 priced close to the spot price. Those coins might be more interesting to the speculators than a boring gold bar. At least one can hope.

And yes, big old gold bars are boring. Back with the SS Central America gold recovery bars were on the market, a bunch of them were melted down and turned into "restrike California gold pieces" because no one was buying them.

 

Silver's rebounding this afternoon a good bit more strongly than gold.

I've given up trying to make sense of the patterns. I'm watching, and wondering whether it'll be more tempting to be a net seller or a net buyer when the big local show comes in June. (Most likely outcome: spreads wide enough that neither buying nor selling is tempting.)

 

I just looked, it is 4668. No reason to panic. Everything is in flux during instability. Relax. If we all get mushroom clouded, it's not going to matter anyway.

 

There are reasons for the drop in PM’s. It will go back up when the right things take place.

 

Just looked again and its up to $ 4693 so we got a little recovery going on there

 

I am with @johnmilton on this one. Last years crazy spike has made coin collecting unaffordable for most. And i need young collectors getting into the hobby so I'll have someone to sell to when the time comes!

 

YIPPEE!!!!!!
Hope its keeps plummeting down to $2K

I can then bid on the larger gold types again.

 

Oh gawd, the sky is falling....