Silver getting crushed today

Come onnnnn, $15.99.

 

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YES That is what I was thinking

 

I want to see it because it's another one of those "we'll never see gold|silver below price X in our lifetime" things.

 

with US Dollar Index still going up


It's getting CLOSER ..



and gold at 1261 ??


platinum
I've been waiting for Platinum to drop since it was around $960. Well it has. But the Platinum coins that I want to get haven't dropped !!! grrrrr .. those Numismatic types out there holding on to their platinum margins. They need to sell Platinum eagles at spot and lose money on their investments just so I can save money !!

 

is that a Gold
DEATH CROSS ??

a technical pattern known as a death cross, where the 50-day moving average crosses (currently at $1,309.13 an ounce) falls beneath its 200-day moving average ($1,307.76)


This can be a technical chart situation where short term downwards trends, can become a long term downwards trend in relations to a 50 day moving trend avg to a 200 day moving trend avg

lately, PMs have lost their "safe haven" market. Crypto came into the fray last year even, ironically, we know if doom and gloom occur all the electronic systems would be down and yet preppers were buying into crypto ? .. that made no sense. Of course, how much of a safe haven is crypto with all the volatility .. guess it depends when you bought it and it's current price. PMs are at least fairly steady and you won't get thousands of dollars of potential losses in, well, 10 minutes at times lol.

Anyways, gold/silver is getting bogged down by the US Dollar Index.
And Supply/Demand may be a factor here (read a previous post of mine) with China having scaled back demand.

With Trade tensions also peeking monetary moves around (and seem to be skipping PMs) it should be an interesting 60 days coming to see where PMs are headed.

@abuckmaster147 @LA_Geezer

might be a good time for stackers though to fill up their war chests.
I think I calculated one could put over 12,000 oz of PMs in their tubes in a Gardall B2018 safe. Oh my, I'd rather just put $50 or $100 bills in that safe stacked from wall to wall and floor to ceiling. But with my budget, I guess I'll just collect pennies.

 

Which "cross" are you referring too?

 

Oh wait, that's an iron cross. Don't ask me, I don't DO technical analysis. I never got into the habit because my Investments professor only ever made fun of technical analysis. And he was BRUTAL about it, too. You guys think I'M snarky!!!

 

All the technical analysis garbarge is just learning stuff.

We always learned the technical chart analysis stuff, but delve more into the economic impact analysis details to understand why numbers are moving in the directions they are.

So I don't really like charts too much. But for PMs, hey the "DEATH" is coming might be scary to the hoarders.

 

According to the chart, it has died 7 times in the last 5 months.

 

just totally terrify those hoarders now why don't you ??

Next, they'll be afraid of flying hot dogs ....

 

I lived and died by the charts for a couple years. My working theory is you could lay a chart of gun sales over a chart of PM sales from '07 to now and it would show a similar trend. Sales of both are driven more by uncertainty and fear rather than favorable economic conditions. Now it is also true that 1/2 of the country views the current administration favorably, just as the other 1/2 viewed the previous administration favorably... So why the day and night differences in PM sales volumes? I'll have to let someone with more wisdom sort that out.

 

Or not, depending on whether Jupiter is aligned with Mars...

 

They SHOULD be afraid - they're Hatfield.

 

It all depends on whether the demographic that like the current administration are NBA fans or not.

 

I really think that Gold will Ketch-up to to $1800 dollar mark sooner or later.

But Gold is poopy in a sense as it Must-tard be inflicted from low Demand as one has to do a lot of Bunning to mine gold which can be expensive ...

But the weakening of PM prices is just like a big weenus.

 

I have no idea what will happen to PM in the next two years, but several major economists are predicting the next recession will hit in two years and will be worse than the last one (which was very bad). Again how PM's would do in great recession is unknown to me. Just wish my house was paid off sooner (another 8 years to go).

 

https://philadelphia.cbslocal.com/2...ospital-hit-face-hot-dog-launcher/?yptr=yahoo

 

A paid off home mortgage is the way to go. I'm currently paying an extra $300/mo to reach that goal sooner, rather than later.

It's the only debt I have. Having an emergency fund of 6 months of expenses (in my case, 15 months, lol) and no other debt is very liberating.

 

I do the same. One thing I learned though, when I bought my first house in the 90s I always paid more each month. Each January the mortgage company would reamortize the payment schedule. So my payment would go down (less interest etc) although I always paid much more anyways. So even though they recalc'd for a 30yr the payment would dwindle a lot and I would just keep making my regular payments pushing it further down.

My current mortgage I noticed the other year nothing was done each January. So I inquired. My current mortgage holder requires $5k (which is 100% applied to the balance) to reamortize the loan. This can be significant over the time of the loan. For my example for first payment after remortization is a savings of interest of $25 dollars, which then increases by more than a dollar a month.

So, you may be able to save even more money by having the mortgage balance reamortized, and you can then save much more on interest, pay more principal with the same payment and cut the term down ever further with your higher payments.

I keep a spreadsheet of my payment and the entire schedule. And I calculate how each month payment cuts the total term of the mortgage. Nice to see an end in sight, getting closer and closer.

 

Thanks for that info. I'll have to look into that.

Found this, so far https://www.bankrate.com/finance/mortgages/what-is-mortgage-recasting-and-why-do-it-1.aspx

edit, after speaking to bank:
Oh, man. Going to have to figure out some algebraic equations to see if this makes sense for me, lol.
I have to do an initial payment of 10k, which will reduce my payment by $186/mo.
10k/186 = 54 months (to 'get back' my 10k)
Save $31/mo interest (+ another dollar added each mo) = ~$390 1st year

Looks like I would save $3k in interest, over the full remaining term of the loan. (hmm, now what is the rate of return on my 10k 'investment'?)

If I then add a total of an extra $500/mo, then:
Estimated Payoff Date
March 23, 2024

And an extra $900/mo (really ambitious, lol):
Estimated Payoff Date
August 23, 2022