Today, Saturday I just bought a couple grand worth of Silver

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Mountain trapper said:
Gold is down over $55 today.
Click to expand...
Update time.
Gold is down another $55 today, to $2302.60 .
Hopefully, anybody looking to sell, nailed it when it was over $2400.
Silver is back down to $26.61 .
Sorry, it's annoying graph time:(:
Screenshot_20240430-134016_kindlephoto-1600069671.png

Looks like we need a new panic:(.
 
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Supervisor42 said:
Update time.
Gold is down another $55 today, to $2302.60 .
Hopefully, anybody looking to sell, nailed it when it was over $2400.
Silver is back down to $26.61 .
Sorry, it's annoying graph time:(:
View attachment 129022
Looks like we need a new panic:(.
Click to expand...
I was probably late to the PM game simply due to life, but I am still way in the black. Anyone who has had it for a while is far beyond me.
 
Supervisor42 said:
Update time.
Gold is down another $55 today, to $2302.60 .
Hopefully, anybody looking to sell, nailed it when it was over $2400.
Silver is back down to $26.61 .
Sorry, it's annoying graph time:(:
View attachment 129022
Looks like we need a new panic:(.
Click to expand...
I got the fun money out when it was peaking. Still keeping my 10% in to cover for crazy stuff.

There are some trends that only look at month end numbers. Dow vs gold is an example. Jim Rickards news letter suggested the gold price is being manipulated to ensure it didn't finish the month above $2300.

I am ok with that because the primary method of driving down the price of gold is to sell it cheap. Eventually they will run out of gold to sell.

Ben
 
China is buying gold. It kinda makes one wonder exactly why? Perhaps they see the US Treasuries as future junk? Some think it's an indicator that China is getting ready to invade Taiwan. Still, if China is buying gold and not US debt, then it is worth paying attention to.

Personally, I think inflation is going to get much much worse. In that environment, PM's would be a good place to store wealth. I bought my PM's with the intention of keeping them and that's exactly what I'm going to do. I don't put too much stock in the daily or montly values b/c it's a long term investment for me. IF all goes well in our economy (doubtful) then my kids will have some metal to deal with. I'm sure they won't mind.

https://www.bloomberg.com/news/arti...nt-and-center-of-gold-s-record-breaking-rally
 
angie_nrs said:
China is buying gold. It kinda makes one wonder exactly why? Perhaps they see the US Treasuries as future junk? Some think it's an indicator that China is getting ready to invade Taiwan. Still, if China is buying gold and not US debt, then it is worth paying attention to.

Personally, I think inflation is going to get much much worse. In that environment, PM's would be a good place to store wealth. I bought my PM's with the intention of keeping them and that's exactly what I'm going to do. I don't put too much stock in the daily or montly values b/c it's a long term investment for me. IF all goes well in our economy (doubtful) then my kids will have some metal to deal with. I'm sure they won't mind.

https://www.bloomberg.com/news/arti...nt-and-center-of-gold-s-record-breaking-rally
Click to expand...
Not just Chin@: 🐝 R l C $ (yep - code on that one) They are forming a "backed" cu rren cy.
 
angie_nrs said:
China is buying gold. It kinda makes one wonder exactly why? Perhaps they see the US Treasuries as future junk? Some think it's an indicator that China is getting ready to invade Taiwan. Still, if China is buying gold and not US debt, then it is worth paying attention to.

Personally, I think inflation is going to get much much worse. In that environment, PM's would be a good place to store wealth. ...
Click to expand...
With gold so high, it is so tough to "buy."

And yet, if we remember we are just transferring wealth from one form into another (with a transaction cost, of course), and if we really believe the other form of wealth (gold) is more durable in tough times than our normal form of wealth (currency), and if we believe tough times are coming, then it totally makes sense to exchange the less durable form of wealth for the more durable form of wealth.

I thought I might be done buying when gold went over $2000/ozt. But........
 
Tacitus said:
With gold so high, it is so tough to "buy."

And yet, if we remember we are just transferring wealth from one form into another (with a transaction cost, of course), and if we really believe the other form of wealth (gold) is more durable in tough times than our normal form of wealth (currency), and if we believe tough times are coming, then it totally makes sense to exchange the less durable form of wealth for the more durable form of wealth.

I thought I might be done buying when gold went over $2000/ozt. But........
Click to expand...
I don't think an all in/ out position is good for us. I like the bottom minimum 10% in. We move in and out when the time seems right.

Not investing advise. Just my musings.

Ben
 
angie_nrs said:
Since my post this morning, my holdings went up just under 5% making my overall investment up 40% :oops:

That's a huge jump in just under 8 hours. WOW. Overall, I'm torn on whether this is a good sign or an ominous one.
Click to expand...
Gold and silver because the dollar is going down.

Ben
 
Cut n paste from Paradigm Press newsletter.

"
ADKq_NbCM2TTZRt7GE2_emuQgp7-ZLse_sCEoe0xx6sRmu-cnlE0Qah2tnwRxeGWff6UUkGbU3MjkpyEk2rlhzOdxnUv-o3dxwrNE6AiWuIPP_9rJajlDOQlKn56M1zs952Tdg=s0-d-e1-ft
On the occasion of President Vladimir Putin’s election to a fifth term in office, President Xi Jinping welcomed his “good neighbor, friend and partner” to Beijing this week.
“[They] pledged to intensify cooperation against U.S. ‘containment’ of their countries, as they warned of growing nuclear tensions between rival powers,” Bloomberg says.​
Clandestine tweet
If you ask the question, you already know the answer…​
“In a joint declaration after more than two hours of talks in Beijing on Thursday,” Bloomberg continues, “Putin and Xi accused the U.S. of planning to station missile systems around the world that ‘pose a direct threat to the security of Russia and China.’”
Then there’s this de-dollarization nugget…
ADKq_NbCM2TTZRt7GE2_emuQgp7-ZLse_sCEoe0xx6sRmu-cnlE0Qah2tnwRxeGWff6UUkGbU3MjkpyEk2rlhzOdxnUv-o3dxwrNE6AiWuIPP_9rJajlDOQlKn56M1zs952Tdg=s0-d-e1-ft
“Putin noted that 90% of trade between Russia and China was settled in yuan and rubles,” Bloomberg reports. “This means we can say our trade and investments are effectively safeguarded from the influence of third countries,” Putin jabbed.
As for trade between the two countries: “Driven by Russian oil and gas sales and purchases of electronics, industrial equipment and cars, Moscow’s trade with China hit a record $240 billion in 2023.” Or its equivalent in yuan and rubles…
“Despite that, China’s exports to Russia have dipped for the past two months,” says Bloomberg. “The U.S. has warned China over its trade with Russia, threatening to sanction banks that prop up the Kremlin’s war machine.”
In case, however, you need further proof that U.S. sanctions are misfiring: “Putin added that Moscow and Beijing had agreed to step up banking ties and increase the use of national payment systems.
“Details of those agreements and the ones signed before cameras were not released.”
ADKq_NbCM2TTZRt7GE2_emuQgp7-ZLse_sCEoe0xx6sRmu-cnlE0Qah2tnwRxeGWff6UUkGbU3MjkpyEk2rlhzOdxnUv-o3dxwrNE6AiWuIPP_9rJajlDOQlKn56M1zs952Tdg=s0-d-e1-ft
Not that our firm hasn’t warned about the dollar’s reserve-currency demise for years… As we’ve said on more than one occasion: It’s a process, not an event.
For further edification, we include something Dave wrote last year: “While the trend has been taking shape for nearly a decade, Washington crossed a Rubicon in its weaponization of the dollar [after] Russia invaded Ukraine — freezing all of the Russian central bank’s dollar-denominated assets.
“Now the blowback is inevitable — and irreversible.”
And today? Imagine if the U.S. and its Western allies cross another Rubicon: liquidating aforementioned Russian assets to fund Ukraine’s war effort. An idea Jim Rickards calls “the dumbest ever.”
In light of which, Russian economist Alex Isakov says: “Putin will continue to press his ultimate goal of seeing China fully replace Europe in terms of energy trade, technology transfer and financial markets.
“A ‘Crussia’ plan would take years and billions of dollars to execute,” he says, “but may be Russia’s only rational option.” We only hope it’s not Russia’s nuclear option.​
"

Ben
 
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