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....

 

Pretty amazing to see Silver down to $67 on Comex and some double eagles for less than $4600 on the bay, seems like PM's are performing a limbo dance, how low will she go!

 

Still thinking about that time a couple of years ago when I made some money by buying a pair of DEs for $1200 each and selling them around $1400.

 

You profited a rounding error

 

It will be interesting to see what happens when US forces land on Kharg Is., Iranian coast near Hormuz. If they can secure the coastal areas, Iran is cooked, and the Strait will re open. Then oil prices will plummet. Better, if US can takeover Iran, then all that new oil will tank oil prices And, the Kremlin will not only have Ukrainians torching all their oil/ gas refineries, but their Ural stuff will drop below $20 a barrel. Putin has not been seen in 21 days, maybe hiding? or coup?

 

Let's see if $4,500 or so holds. Gold and PMs are selling off on expectations that the Fed will be tighter -- maybe even hiking rates let alone not cutting -- and this is bad for the sector.

For me, this is about where gold was at FUN 2026 when I bought my Liberty Head DE and my Saint. So a nice round-trip.

 

My clients in the 1990's and 2000's were buying Saints and mentioned them and I never put 2 and 2 together.

Could have grabbed a few Saints for ~$500 or so.

When gold was super cheap and just laying there in price for years... an MS-64 was ~$500.....I've been told if you went up to MS-65 price doubled...and then doubled again for MS-66.

So $1,000 or so for an MS-65 and $2,000 or so for an MS-66 !!!

 

A 15% profit on a quick flip is nothing to sneeze at. If I could do that month on month... but I can't. Opportunities to buy low are too rare, and searching for them takes too much time; it's fun to spend time that way, but it's not healthy in the long term.

 

Our financial news stated that gold will end the year at $5200US
I think nobody knows.
It will be interesting once US forces open the Hormuz Strait and oil prices plummet, will gold go up again? Will Dollar drop? Its a guessing game at best.
Personally, I would love gold at $2000 or less. I am adding to my collection.

 

If it's at $3,000 or about next January @ FUN 2027.... even if it looks weak technically....and headed lower....I would hope I am in a position to buy at least 2-3 more coins.

Assuming I don't try and stretch for an MCMVII HR which I would NOT expect to fall more than 10% if gold fell 40%.