Gold dips under $1,800 for the first time in months

Discussion in 'Bullion Investing' started by potty dollar 1878, Feb 4, 2021.

  1. baseball21

    baseball21 Well-Known Member

    In the simplest terms yes. If it’s not like you can just fire up the home computer and have any expectation of getting them at this point. There’s a lot of articles and YouTube videos on it

    https://www.coindesk.com/a-new-york-power-plant-is-mining-50k-worth-of-bitcoin-a-day

    This is a good example of how hard they are to mine at this point and the computer farms that are involved in it
     
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  3. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    what goes up always comes down and vice versa...LOL
     
  4. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Sadly my age doesn't.
     
  5. GoldFinger1969

    GoldFinger1969 Well-Known Member

    My friend "Bonddadddy" is under a new name on Twitter...he's a successful Wall Street bond trader (mostly MBS)....outspoken on private property rights and related politics, I note his post here talking about how BitCoin is now being seen as an anti-wealth confiscation device:

    https://twitter.com/PondSagg/status/1364331653615779842
     
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  6. fretboard

    fretboard Defender of Old Coinage!

    Gold took another downer to $1730, time for some to sell and others to buy. :happy:
     
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  7. fretboard

    fretboard Defender of Old Coinage!

    And gold took another dump to $1697! Anyone selling, because you're losing confidence? Not me, I mean I have three or four gold coins I'll be selling but those will be replaced with bullion. ;)
     
  8. Tater

    Tater Coin Collector

    I'm not sure if it was a good time to buy but I sold some items on the farm today and turned the cash into a nice 1959 10 peso approx 1/4 oz of gold. The markets have me confused right now.
     
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  9. fretboard

    fretboard Defender of Old Coinage!

    Yeah, I've been trying to buy a Mexican Libertad from 1981 but they're fairly scarce and on feebay the prices are ridiculous! I'm sure many are confused right now but I don't think you'll regret buying a gold coin as it's always nice to own at least a little! ;) Just be sure to stay in no matter what! The biggest mistake people make is not staying in for the long term. Gold is a long term investment for me, I've learned that over the years of the price dropping and me selling only to kick myself afterwards!
     
  10. crazyd

    crazyd Well-Known Member

    Shortage in fractional gold coins? I had my eye on a 1/2 oz Gold Maple Leaf - and nearly every one is sold out. This even appears to apply to 1/2 oz AGE.
     
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  11. WoodyWW

    WoodyWW Junior Member

    Re: the comment "I should have gotten some at low 1000's"

    That was early 2016, right? I remember that, & thinking the same thing, but I didn't buy any more gold. Then, in Nov. 2019, I sold 2 of my gold coins when gold was about $1460. I'd had them both since the '70's. It was only weeks later when gold started shooting up $100's of $$. Needless to say, I was pis*ed.

    As far as "Bitcoin", I've thought all along that it's one of the biggest scams or bubbles in Human History. What's really galling is people comparing it to Gold. Nouriel Roubini, a professor at New York University's Stern School, a few weeks ago on Bloomberg, really went on a rant about "Bitcoin".
     
    Last edited: Mar 5, 2021
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  12. baseball21

    baseball21 Well-Known Member

    I wouldn't really dwell on it. Without Covid which no one could have predicted it would still be sitting there if not lower
     
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  13. FryDaddyJr

    FryDaddyJr Junior Member


    go big or go home
     
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  14. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    I've seen folks predicting Gold 5000 and Silver 200 range. I've be quite surprised if silver ever did another 50 dollar spike over the span of this generation.
     
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  15. baseball21

    baseball21 Well-Known Member

    Depending what generation you mean yea I would too since it didn’t even do that when everything was locked down and people were panic buying metals for a couple months. Those predictions have been going on for decades, often come from people with a vested interest for people to believe that so they can sell more.
     
  16. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    It was going around 1200 in 2019 and may have briefly dipped 1100's. I remember a phone conversation with my brother about getting into investing that year and thought about getting some.
     
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  17. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    In March last year I remember the online PM dealers being completely cleaned out. lol

    I received an email from ProvidentMetals about them experiencing record sales.
     
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  18. baseball21

    baseball21 Well-Known Member

    Yea everyone was buying out everything they could get their hands on and even then it never even broke 30 and now all those purchases are underwater
     
  19. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Those are just numbers being thrown out. Even lower price predictions are guestimates at best.

    I do believe that gold has been hurt by the BitCoin move and if had been more subdued, gold would be $2,200 - $2,500 by now.

    The reflation move should be a huge tailwind for gold. Instead, it's been a nothing burger.
     
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