Hitting $30 tonight?

Discussion in 'Bullion Investing' started by xCoin-Hoarder'92x, Aug 6, 2020.

  1. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    I know this is probably a spike. But... fun to watch.

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  3. slackaction1

    slackaction1 Supporter! Supporter

  4. furryfrog02

    furryfrog02 Well-Known Member

    My guess is that it will end closer to $31 tomorrow than $30. I still can't believe how fast it has risen in the last couple of weeks after years of basically stagnation and drops.
     
  5. -jeffB

    -jeffB Greshams LEO Supporter

    Blowoff top, coming right up...
     
  6. Tuco

    Tuco Active Member

    GSR below 70!

    gold_silver_ratio.jpg.gif
     
    xCoin-Hoarder'92x likes this.
  7. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Storm Tracker

    It wouldn't surprise me if right now local coin shops are not taking in silver. Or just lowball the sale.
     
  8. FBLfinder

    FBLfinder Active Member

    I saw online that sd bullion was paying almost +3 over spot for 2020 ASE and +2.90 for randoms.
     
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  9. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter



    It's gonna change real soon as things slowly come back 'online'........
     
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  10. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    I'm not sure about that green.

    They printed tons of money and could this not be the beginning of inflation mixed with a scared market looking for a safe haven?
     
  11. CoinCorgi

    CoinCorgi Derp, derp, derp!

    Midnight eastern time and it's down to $28+
     
  12. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Gold and silver are going ALOT higher.

    In a world of 0% rates....killer viruses....Socialists determining how much of your income is yours and how much of a slave you will be.....gold and silver are way-underowned by Western wealthy individuals, to say nothing of China and India, let alone Asia and Africa and South/Central America.

    I can make a case for $20,000 gold. I'm not predicting it, but I can make a plausible case that doesn't require a re-run of the 1970's.
     
  13. Jeffjay

    Jeffjay Well-Known Member

    A bit of a correction. I predict more increase next week.
     
  14. Legomaster1

    Legomaster1 Cointalk Patron

    I believe it could definitely go above $30, albeit going down a bit, and then spiking by a few dollars again. Still a lot of uncertainty in the economy, and in general. With that, gold and silver can only increase in value, at least for now.
     
    GoldFinger1969 likes this.
  15. MeowtheKitty

    MeowtheKitty Well-Known Member

    Meow is bummed, as Meow was waiting for high premiums to go away to buy ASE. Well, looks like this Cat will get none.
     
  16. -jeffB

    -jeffB Greshams LEO Supporter

    upload_2020-8-7_10-16-3.png
    Now, the question: is this a May 2011 drop (to be followed by a surge higher), or a September 2011 drop (to be followed by a long, long decline)? Or something unlike either one?

    (The answer, of course, is that it depends on everything in the world, and not just a pattern on a chart...)
     
  17. medoraman

    medoraman Supporter! Supporter

    I would disagree with the supposition that gold is underowned by those in the Far East, India, Middle East, etc. Everyone I know with family there probably has gold as their #2 asset held, after land. Many have it as #1 if land is not easy to own. MASSIVE amounts of gold are owned by every family in those areas of the world. My mother in law probably owns 70 or 80 ounces and she is not rich. Such ownership is actually the main reason the GSR is not 16 to one anymore, but more like 80 to 1, since there are so many families around the world wanting gold and only gold.
     
  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

    But there are millions of new middle-class families EACH MONTH in China and Asia and India alone, forgetting about the ROTW.

    I think the data and stats show that on a per-capita basis, gold is not that widely held. I can probably dig out the numbers.

    Yes, for a select few like your family members, they probably held the bulk of their assets in gold since they remembered and didn't trust the non-traansparent financial institutions of the 1970's and 1980's.
     
  19. medoraman

    medoraman Supporter! Supporter

    No, not what I see. My sister in law does not have much money, but whatever she has she has it in gold too, and that has been purchased in the last 8 years.

    You ever been to the Far East, India, or Middle East? Gold shops EVERYWHERE. They are worst than Starbucks in the US. Even in small towns dozens of them. A friend owns 2 in Lumphun Thailand, a town of about 15K only 10 miles from Chiang Mai. You would think they wouldn't need ANY gold stores, but she has about 8 competitors in that town, but she still turns over a few million USD a year in sales in EACH store. You go to larger stores in Chiang Mai or Bangkok and you have about 25 sales staff and you have to wait usually 10 minutes to get anyone to help you they are that busy.

    My wife has poor relatives, do not own a car but only have a scooter, and by the looks of their house you would think maybe they own $500 to their name, but they will show up with 4 ounces of gold jewelry on fancy occasions on them.
     
  20. GenX Enthusiast

    GenX Enthusiast Forensic grammatician

    My first thought was, how could a CFA be so absolutely wrong? Goldfinger, you may be right in general or on some other level with gold, just not at all about gold in India or the middle east, not to mention the Arab countries.
    Basically what medoraman said - I spent years in India, going through the Middle East to get there, and it was all gold, all the time. Temples in India have fortunes of it in them, and every Indian family I know bought gold. And the last time I was there was 2013 or so, before everyone had cars;)
    Indian workers in Bahrain and UAE buy gold to return home with illegally. Go to the Dubai airport if you want to see hordes of duty free gold, it's patently ridiculous. It's the fricken currency, dude;) Hell, they've probably got the gold form fort knox in the Dubai airport.
     
  21. GenX Enthusiast

    GenX Enthusiast Forensic grammatician

    My own beloved Guru started looking a little like a rapper toward the end;)
    images.jpg
     
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