Gold - Is $1900.00 the New Normal?

I made a mistake ten years ago or so. Silver seemed to stabilize at around $30.00 an ounce so I got comfortable buying again. Well, we all know what happened after that.

I like gold. It takes up far less space…. I stopped buying a few years back when we got up in the $1400.00 range. Then we had Covid and nothing made sense……. Do you think we have been stable at the $1900.00 level long enough to start buying again?

 

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I wish I knew. I bought a little bit of gold right before Brexit and was hoping to buy a few more pieces. I passed on a couple of US gold coins because at the time they were too high of a premium. Now I will never be able to touch them with a 10 foot pole.
I'd not mind if gold dipped a few hundred an once

 

Sorry Randy but my crystal ball stopped talking to me due to price fluctuations.

 

up and down the price goes, I buy on average about 2 onces of GOLD per month
rain or shine, some time I am on the low end of the cycle sometimes not but you
can add or deduct the premium, I am a longe term investor so those issues dont
concern me much.

 

As we've discussed, I buy regularly, dollar cost averaging as I find material believed to outperform future dollar performance.

I've done this consistently for >70 years. It's worked for me.

If you need to ask others, it may not be good for you.

My key to success is finding appropriate commodities that retain value with advanced time, where it's believed the majority don't.

JMHO

 

Tough question for sure, all I can say is I still buy even at today's prices but I'm careful to only buy gold coins that are special to me, no bullion. That means if I don't make a profit off a coin I buy today, it won't stress me because that's not why I bought it, it's part of my collection.

 

Investing for my kids future is job #1, but if there's something I like I will buy
it, but for the GOLD content first, second is the numismatic value but again
somethings only worth what someones going to give you for it, investing in
bullion the price is the price so anything on top of that is the gravy

 

Today:

Gold $1908.97/oz -23.06

 

No idea sir. I buy what I feel like usually, but haven't bought much gold at these prices. I could easily see a correction down to $1500-1600 levels in the next few years. As it is, I have enough stuff to waste money on, so just buy it instead right now.

 

First of all lets not get ahead of are selves, everything is down right now
palladium is off over $240 and all PM,s are in the minus column, stocks are
down as well, you will have days like these, life cant always be a bowl of
cherries as far as GOLD prices are concerned, its anybody's guess but I
will continue to buy monthly as I am long term, bumps along the way can
always be expected.

 

Big numbers make little swings look big. Gold's been roughly $1900oz for a while now, but even when it bounced up to $2000, that's only a bit over 5% increase. When my wife looks at the 401k's (which always seems to only be after the bad quarters), she is aghast at the amount of dollars 'lost', but it's only 5-6% of the total; where was she the previous 8 quarters when we were blowing the roof off? I don't quite dollar cost average, I chase '0' to minimal premium gold, which doesn't make it self readily buyable, but you can get at it now and again. Picked up a sealed pair of 2019 $5 Canadian Polar Bears (1/10 oz) for $406 in pocket just 2 weeks ago.

 

I'm lucky. I picked a wife whose attitudes toward money match mine -- closely enough that, when one of us starts to go off the rails due to a short-term setback or windfall, the other is there to make sure things stay on course.

Right there with you -- except that it's been a lot longer than a few weeks since I last found any.

But I also sell when I can get a good premium over melt, or at least an offer ahead of the usual; I unloaded a white elephant (an Eagle in a particularly ugly 14k mount) a few weeks ago, a bit under melt, but well ahead of previous offers. A lot of the gold weight was in the mount, and this was the first buyer who didn't want to completely discount the mount, or make a jeweler-level well-below-melt offer for the mount and the coin. It worked out to a fair price for an ex-jewelry coin, plus a fair price for a lump of 14k.

 

I don't know where the next $200 is on gold, up or down.

But I'm pretty sure the next $1,000 is UP.

The cryptos have been a disaster, including BitCoin. Stablecoins are as stable as the San Andreas Fault.

I'll keep buying bullion, proofs, and pre-1933 gold.

 

When it comes to BTC, you just need
to buy on the cycle, as it moves fast
during the day

 

Randy, there are so many wild cards in trying to figure out investments that I think gold prices — not unlike the stock and bond markets — are something of a shot in the dark. Inflation, energy shortages, problems with supply chain, how much and how quickly the fed will raise interest rates are only a few of the unknowns right now.

And how will investors react? Some look at gold as an inflation hedge, but what if inflation is tapped down by higher interest rates? Predictions of a recession in 2023 (some even earlier) likely will figure in individual moves. Will gold be regarded as a hedge to a generally sour economy — or will unemployment take upward pressure off prices?

I’ve been having the same debate about buying non-numismatic gold. If the light happens to hit you, please let me know.

 

I don't know there are over 11 million jobs available for good wages.
Have we entered an era of the Government just taking money from US?
No taxes my ass.

 

They are still paying folks to stay home.

 

And there doing just that, everything is more especially gas here in Vegas next to
impossible to find gas under $5.00, I get gas at Conoco mostly, just more convenient then going to Costco and waiting in line just to save pennies, it use
to be 25 to 30 cents but that gap has closed over the past several weeks.

I went in to chili's for dinner the other night and they were out of dishes, so the
manager was doing them, there offering $25 an hour for a dishwasher and no
takers, pretty pathetic really

 

25$ for a dishwasher.
Just got off the phone with my Cuz in Texas, He is making bank in Austin.