Precious Metals And The Coronavirus

Discussion in 'Bullion Investing' started by Joe2007, Feb 21, 2020.

  1. Joe2007

    Joe2007 Well-Known Member

    What impact will the Coronavirus that is currently rapidly spreading through Asia and possibly the world in the coming months have on precious metals? Even if the virus doesn't have a widespread impact on Europe or the U.S. it still may crash the economy. Do you see precious metals going up as economic certainty falters and the world possibly heads into a repeat of the Great Recession?
     
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  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    While it may take some time, the coronavirus will eventually run out of steam, and metals will too.
     
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  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Need to see a GDP print from China.
     
  5. longnine009

    longnine009 Most Exalted Excellency

    China is too much of the world economy. There has to be a ripple. Even people in copper mines will feel it when electrical parts aren't getting made.

    But hey it may not matter to us as long as the Zombie Fulfillment Center promises more "accommodative policies."

     
    Last edited: Feb 22, 2020
    Jayyk38 and GoldFinger1969 like this.
  6. longnine009

    longnine009 Most Exalted Excellency

    Needs to get some unicorns in there. ^
     
  7. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I had been sort of wondering in the back of my mind if the current PM run up was tied somehow to fears of this virus.
     
  8. longnine009

    longnine009 Most Exalted Excellency

    Gerald Celente refers to it as "Rosie Queen of Corona." :p

     
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    It is, and also the political situation.
     
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  10. Brian Calvert

    Brian Calvert Active Member

    Just be sure to do your own homework. Too many over bearing stock pushers here that want to sell you investment advice... i.e. stay the course of your 401k and investment guru as if you cant figure things out for yourself.

    The Truth is out there and you can't PRINT money forever, flood a market with Paper and expect it to "just work out" They will also try and use Corona, Global problems, and everything else they can to justify why Gold will do good for only so long. That you will need to be part of the BANKING CARTEL Pyramid Ponzi Scheme the FED and Central Bankers have forced us into since 1913.
    Crooks is all they are. Politicians play along.

    Same thing in the Medical field now but ONLY in the USA.
     
  11. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Brian, you talk about "over bearing stock pushers" (?) and then go off on a rant about banking cartels, pyramid Ponzi schemes, the Fed, etc.

    Just sayin'............:D:D:D
     
  12. Collecting Nut

    Collecting Nut Borderline Hoarder

    PM's are not driven by viruses. They are driven by economic and political means.
     
  13. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Yes, but the virus is having a major impact on global growth.
     
    -jeffB likes this.
  14. 2011steeny

    2011steeny Member

    If you can't stay on topic, and be serious about the topic/issue, then don't waste the writing space, and the time of others, by having to read your stupid comments!

    Yes, the coronavirus is going to have an impact on the world's economy. Whether the impact is going to be very significant or not, is going to depend upon many different factors.

    It has already started to effect Precious metals with major PM distributors. Apmex, JM bullion, Silver towne, and other's have already posted increases on their items. Some of them have even mentioned that they are expecting to see spot prices increase on PM's because of the economic impact from the coronavirus.

    Whatever happens is going to make a bunch of people upset. If PM prices go up, buyers are going to be mad they didn't buy sooner, and if they go down, sellers are going to upset that they are not making as much money as they could have.

    Each of us have to make our own decisions about whether to start buying, or wait until spot prices go up and start selling.
     
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  15. crazyd

    crazyd Active Member

    Deleted post.
     
  16. Gilbert

    Gilbert Part time collector Supporter

    Assuming the virus becomes more of an issue, people will sell stocks and bonds and buy PMs.
     
    xCoin-Hoarder'92x likes this.
  17. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    Hope we never become Venezuela. You need a backpack full of paper to get a night at a hotel. Twice now in the last 3 years they've dropped zeroes off their currency and issued new sets of money. This new set (forget the name) has already hyper inflated. :eek:
     
  18. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    My father thinks PM's are useless during times of worldwide turmoil, but I think as long as we still use money that it has value. Sure, it also makes sense to stock up on non perishable foods in a situation like that, but people with more money in my opinion will still be out looking for an investment.
     
    crazyd likes this.
  19. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    I agree with your dad. In ultra-serious times ( not yet here), people will give over PM for antibiotics, face masks, condensed milk, gasoline, etc. without considering the original cost if they need the supplies to survive. PM value as seen now is fake on both sides of the equation , money and value of metal. If you need the chemicals to make ditch water drinkable, gold is worthless. IMO, Jim
     
  20. crazyd

    crazyd Active Member

    When I think of the most likely "serious event" I most often think of a weeks or months long event like a pandemic or localized dirty/bio/chemical attacks, or some short term climate disaster (Hurricane tornado, flood). I just dont see something that would take the US dollar to zero or shut down all banks and ATM's and bring us back to the 1800's. In this case its prudent to keep a month of food, medicine, Toilet paper, clean water abilities on hand. Maybe ammo if your so inclined to fire arms. PM might be used to barter with your neighbors for somethings in these shorter term calamities (months) but more likely bartering and cash on hand would of more use. I suppose if I had to get out of town due to a local/regional disaster (example Aussie or California fires) - once I got to where it was safer I could sell my PM's for some cash.

    However the more common non serious disasters are simple medical illness/accident/disability, job loss, great recession, where having PM's as a kind of rainy day emergency fund - makes sense to me.



    P.S. - stocking up on a month of food is really fairly easy with buying a few cans of food from Mountain House, Augason Farms, etc. though out the year as sales happen. You buy a can and its good for 25-30 years. Its actually very tasty and good quality.
     
    Last edited: Feb 23, 2020
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    They are buying bonds BIGTIME. Government bonds, at least.

    10-Year approaching all-time low in yield.:wideyed:
     
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