I been holding PM’s since the 1990’s. Back then I was glued to the charts. Every little gain made me feel like Scrooge McDuck..... Fortunately I got over all that. And now at my age it takes a whole lot more than a PM chart to get my juices flowing.... Just was thinking today. With all the incredible negative stuff going on right now, it is a a small pleasure to pull up the charts. It does manage to give me a little zing at a time when a little zing is a darned big deal.
I am happy that I bought the bulk of my hoard when silver was like $14/oz and gold was $1200/oz. A bit bummed that I can't add more since I am in it for the collection and the long term.
I restarted buying gold at $1,240 so I guess I do feel some excitement. But too much excitement can be a bad thing when investing.
I'm not excited at all. It goes up and it goes down. It's up enough that if I sold I'd make good money but it's not up enough to get me excited.
Twitter showed a name I didn't recognize trending this afternoon. Apparently it's a new Fed board appointee, one who's said favorable things about the gold standard and cryptocurrencies. As "reasons for PM spikes" go, I guess this one is less scary than "possible nuclear explosion reported in financial district of NYC"...
You are thinking of Judy Shelton who is a nominee to join the Fed. She is a long time proponent of a gold standard including a universal gold depository. She recently flipped flopped in favor of current low interest rates and fiscal stimulus. Who knows what she would do if confirmed.
The same movie has been filmed about half a dozen times, but my favorite version of Titanic is the movie A Night To Remember (1958). 123 minutes long. It's a screenplay adaptation of the collapse of the dollar. At first there is concern which translates into orderly abandonment, but by the end it's every man for himself and total pandemonium. In case you're wondering where we are at in the story, the iceberg has already been hit, but only a select few already know the fate of the ship.