Gold Pumpin' Up!

Discussion in 'Bullion Investing' started by fretboard, Mar 29, 2024.

  1. fretboard

    fretboard Defender of Old Coinage!

    Gold was at $2233 a minute ago pretty exciting, so what's the happenings, anyone here buying, selling or holding where you at?! :smuggrin: Having just moved last November money is really tight for me right now so I'm holding, but at the end of April there's gonna be a coin show here in Sacramento so that's exciting as well, maybe I'll just look! :D
     
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  3. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Fundamentals remain bullish, $2,255 on the COMEX yesterday. New all-time highs.

    I wonder what a common Saint will cost when gold is $3,000 an ounce ? :D
     
    fretboard likes this.
  4. derkerlegand

    derkerlegand Well-Known Member

    and a gallon of milk, loaf of bread and a dozen eggs:joyful:
     
  5. GoldFinger1969

    GoldFinger1969 Well-Known Member

    We're not seeing hyperinflation or even the 1970's inflation.

    If you run the CPI vs. gold from 1998 or 2002 or 2012 or 2020 you will see that inflation hasn't been high except for right after Covid and Russia/Ukraine.

    I'm not sold it's going back to 2% where the Fed wants it, but even 3% or so is NOT a rerun of the 1966-1981 period.
     
  6. -jeffB

    -jeffB Greshams LEO Supporter

    Hmm. The site I use to check prices (goldprice.org) is showing a flat line at $2233 today. Seems to think the markets (EVERYWHERE) are closed.
     
    Mkm5 likes this.
  7. rte

    rte Well-Known Member

    Easter is on the horizon...Good Friday...the market is suspended.
     
  8. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Futures (COMEX) and spot are different. NY prices are usually COMEX; spot is London.
     
  9. fretboard

    fretboard Defender of Old Coinage!

    Yep it's even been higher than I thought, that's okay new ATH's on gold are always welcome! thumbupp.gif
     
    GoldFinger1969 likes this.
  10. pmbug

    pmbug Taking steps on my thousand mile journey

    Wall Street is still hating gold. It's moving higher because of demand from foreign central banks (and Chinese and Indian retail). I don't see those demand drivers diminishing too much. There's a decent chance that Wall Street sentiment changes. It seems to me to be very bullish for gold.
     
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I posted a ton of supply/demand structural charts in another thread.

    Big thing now is gold ETFs are bleeding cash which means this move up is CB and retail driven around the globe.
     
  12. fretboard

    fretboard Defender of Old Coinage!

  13. -jeffB

    -jeffB Greshams LEO Supporter

    Yep, pre-33 gold is knocking at the door of 110x face value...
     
  14. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Up another $45 in overnight. Reeks of panic short-covering.

    Not too far from $2,300. :cigar:
     
    -jeffB, longshot and fretboard like this.
  15. -jeffB

    -jeffB Greshams LEO Supporter

    Aaaand back down to $2245 around 8 EDT. But a fairly sharp bounce back from that low over the past hour. Silver seems to be mirroring the trend.
     
    GoldFinger1969 likes this.
  16. GoldFinger1969

    GoldFinger1969 Well-Known Member

    $2,253...not bad considering risk-assets including BTC are down.
     
  17. -jeffB

    -jeffB Greshams LEO Supporter

    Someone's getting pranked.

    upload_2024-4-1_10-45-25.png
     
  18. rte

    rte Well-Known Member

    Someone is playing with the switch on silver too.
    Electrician must have wired them together at some point in the circuit :p:p:p
    silver.gif
     
    slackaction1 likes this.
  19. Heavymetal

    Heavymetal Well-Known Member

    Silver $25.75 and climbing
    Ain’t selling just to buy another CD
    And gold. Just wow
     
  20. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Up $18 this morning while everything other than bond yields is LOWER.

    $2,275 on the COMEX.
     
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    They tried to test and probe $2,300 but we got repelled at $2,290 and change. Too many sell orders there. :oops:

    Like the last 500 feet of Mt. Everest, we need to rest and rebase and prepare for an assault after basing. :D
     
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