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

[angie_nrs]

We're getting into a bit of a thread drift here.....

Heartbroken, might I suggest this thread for you?
https://www.homesteadingforum.org/threads/preparing-for-retirement.14799

 

[Supervisor42]

We're getting into a bit of a thread drift here.....

Heartbroken, might I suggest this thread for you?
https://www.homesteadingforum.org/threads/preparing-for-retirement.14799

I'm partly responsible

so I will reboot the other thread to get it back up on the table for her.
It is full of great advice.

 

[angie_nrs]

Well lookie at Gold today. Interesing, especially considering what's going on. $1865 and change as I post this.

When looking at the candlestick charts, Gold is at a weak MACD support level now, but has went slightly below the stronnger support at 1900. It's interesting that it broke below that. Some say they think Gold could go down to 1800ish before it bounces back. Who knows? I guess it's possible, but this is just weird considering inflation and the market fears, not to even mention a 'war'. Usually all those factors push gold up.

 

[Supervisor42]

Well lookie at Gold today. .
Some say they think Gold could go down to 1800ish before it bounces back. Who knows? I guess it's possible, but this is just weird considering inflation and the market fears, not to even mention a 'war'. Usually all those factors push gold up.

...Unless someone, like Russia, was dumping tons of it into the market.
How do you think they pay for something/anything they buy today, with rubles?

 

[Tacitus]

Well lookie at Gold today. Interesing, especially considering what's going on. $1865 and change as I post this.

...Some say they think Gold could go down to 1800ish before it bounces back. Who knows? I guess it's possible, but this is just weird considering inflation and the market fears, not to even mention a 'war'. Usually all those factors push gold up.

I'm certainly an amateur on this, but I guess I assumed that rising US interest rates means people are shifting wealth into the USD from other currencies and from paper gold and other digital assets. This makes the dollar stronger, and a stronger dollar can buy more (at least in the short term). This is exactly why they raise the interest rates...to make the dollar stronger. Remains to be seen if this will be a long term effect.

I think quick changes in the spot price are caused by people selling digital/paper gold investments, not physical gold. It is very easy to move those digits around to go after short term opportunities, and it affects the price of physical gold...but the demand for physical gold remains largely the same. Many factors go into the spot price, though.

 

[Neb]

I'm certainly an amateur on this, but I guess I assumed that rising US interest rates means people are shifting wealth into the USD from other currencies and from paper gold and other digital assets. This makes the dollar stronger, and a stronger dollar can buy more (at least in the short term). This is exactly why they raise the interest rates...to make the dollar stronger. Remains to be seen if this will be a long term effect.

I think quick changes in the spot price are caused by people selling digital/paper gold investments, not physical gold. It is very easy to move those digits around to go after short term opportunities, and it affects the price of physical gold...but the demand for physical gold remains largely the same. Many factors go into the spot price, though.

People trying to cover stocks they shorted is one reason would be selling gold or others thinking they should take profits now.

Others have said Russia may be selling gold. That doesn't make sense if you look at the Rubble to buy dollars ( see here ) which has dropped from 100 Rubbles to the dollar just over a month ago to about 70 today.

So I am voting for coverint shorts or profit taking.

Ben

 

[angie_nrs]

How do you think they pay for something/anything they buy today, with rubles?

Oh sure, laugh now......but Putin might get the last laugh sooner rather than later. I guess we'll see.

I'm certainly an amateur on this, but I guess I assumed that rising US interest rates means people are shifting wealth into the USD from other currencies and from paper gold and other digital assets. This makes the dollar stronger, and a stronger dollar can buy more (at least in the short term). This is exactly why they raise the interest rates...to make the dollar stronger. Remains to be seen if this will be a long term effect.

Many factors go into the spot price, though.

My thoughts were that interest rates were being raised to try and put the brakes on inflation. Although, this time I think it's too little too late. Even the rise in interst rates are minimal compared to what we are seeing with real (not reported) inflation.

Yeah, I don't know diddly about how they determine spot prices. That is beyond me.

Usually market fears and currency fears send people running to PM's......both paper and physical. Personally, I think this is just another indication that the PM markets are being manipulated.

 

[Supervisor42]

Oh sure, laugh now......but Putin might get the last laugh sooner rather than later. I guess we'll see.
My thoughts were that interest rates were being raised to try and put the brakes on inflation. Although, this time I think it's too little too late. Even the rise in interst rates are minimal compared to what we are seeing with real (not reported) inflation.
Yeah, I don't know diddly about how they determine spot prices. That is beyond me.
Usually market fears and currency fears send people running to PM's......both paper and physical. Personally, I think this is just another indication that the PM markets are being manipulated.

Yeah, I'm grasping at straws here because it is going opposite to inflation, which is illogical.
If a dollar was worth less today, it would be reflected (pun) in gold first.
I am totally with you that 'something' is tweaking it though.

 

[Supervisor42]

Yep, gold in the upper $1800's, oil at $97.~, and my Exxon stock at $80.~ (was $88 a while ago), what's the world coming to?
Welcome to the show folks, keep your seatbelt securely fastened at all times, things can go up and down a bunch.
Enjoy the ride!

Aaaand today, gold is at $1874, oil at $107, and my Exxon stock above $90.
Guess why I didn't panic before?
...I have been on the rollercoaster for years.

 

[Spikedriver]

Aaaand today, gold is at $1874, oil at $107, and my Exxon stock above $90.
Guess why I didn't panic before?
...I have been on the rollercoaster for years.

Playing the long game!

I have a few stocks in my 401. I'm not even going to look at it until I go to pull it out. I have no idea where those things are at. But I do know that they've been through three recessions now. And they keep going up in the long run.

 

[LadyLocust]

I just learned that my husband had some life insurance. I'm considering investing it in silver. Is there a good place to go to watch silver prices that doesn't require a subscription? And do most of y'all do the purchasing and such on your own, or do you use a financial advisor? I just made an appointment to see one next week to discuss my 401K and options of what to do with it. My husband was the brains of the outfit, so I'm really at a loss trying to figure out what would be a wise course of action. I'd like to retire before I'm too old to enjoy it.

Gold Price (It's gold and silver prices in case you still want those.)

 

[Neb]

We ordered some more silver last night but...

Today my sister gave a bunch of beanie babies. A rather large collection. I searched on one that is a rare misprint. One on ebay for $12,000.

Another first edition one of the first 200 ebay asking $39,500.

Guess who is going to be researching beanie babies.

Edit
Over $100k potential so far.
Edit
$250k

Ben

 

[Supervisor42]

Gold Price (It's gold and silver prices in case you still want those.)

Anybody remember me telling the guy to sell gold when it was at $2K?
Of course not! That would be investment advice.
But he said he was looking for it to hit $2K, and I did tell him when it hit his price-point.
Today, not a good day to sell...

...Now back to beanie-babies!

 

[LadyLocust]

Anybody remember me telling the guy to sell gold when it was at $2K?
Of course not! That would be investment advice.
But he said he was looking for it to hit $2K, and I did him when it hit his price-point.
Today, not a good day to sell...

...Now back to beanie-babies!

I should go buy some

 

[Rick]

Actually Gold and silver are now pretty much at their pre crises levels.
What does this mean?
Since the dollar lost approx 20% of tis value since then, they are actually a fantastic value to buy!
Imagine being able to buy Gold and +silver at (almost) pre crises prices.

 

[Neb]

Anybody remember me telling the guy to sell gold when it was at $2K?
Of course not! That would be investment advice.
But he said he was looking for it to hit $2K, and I did tell him when it hit his price-point.
Today, not a good day to sell...

...Now back to beanie-babies!

The gorilla in the room is...

Why is gold tracking with the markets?

There is something strange going on.

https://www.macrotrends.net/1378/dow-to-gold-ratio-100-year-historical-chart
Ben

 

[SheepDog]

Is that graph the "futures" price or the "spot" price? I am thinking it is the futures price based on the two biggest miners in the world. Inflation and fuel prices costs too much to make a profit in the mine and they close it down. Now is not a good time to invest in gold futures - or most anything else.

 

[Mountain trapper]

Yes gold is down a little, which makes it a good time to buy. If you want to gamble on it going up again. Most of my gold I bought prior to $600 an ounce, some much lower than that. I still have gold left over from my placer mine too, fines and nuggets. I'm probably going to sell some gold soon to pay for finishing our construction projects.

 

[Supervisor42]

Yes gold is down a little, which makes it a good time to buy. If you want to gamble on it going up again. Most of my gold I bought prior to $600 an ounce, some much lower than that. I still have gold left over from my placer mine too, fines and nuggets. I'm probably going to sell some gold soon to pay for finishing our construction projects.

A little?
It was only above $2K for a few days in March when I shot my mouth off .

I'm reading it as on sale, 22% off today.

 

[Neb]

Finally found something from RetirementWatch...

"
The strength of the dollar appears to be keeping gold from reacting to rising inflation and geopolitical conflicts. The dollar's strength probably isn't sustainable , so it's a good idea to retain a position in gold.
"


Ben

 

[hiwall]

Or are PMs going down because certain banks are making huge bets(buying derivatives) that PMs will go down?

 

[bkt]

This might help shine a little light on what's going on

https://www.zerohedge.com/markets/p...ng-gold-market-using-bullion-banks-paper-gold
It reflects what hiwall posted. When they lose the ability to keep the price down, buying any precious metals will become a lot more difficult.

 

[Neb]

I am still listening to this now.

https://pro.paradigmnewsletters.org/p/awn_bidenbucks_newlife_0722/LAWNY8AE/?h=true
Biden signed a directive in March for the digital dollar.

Ben

 

[Magus]

I posted on this last week, then it all went 404.
I know how to beat it though. just steal stuff.
Stores are not allowed to stop you if you're already headed out the door with it!

If its gone that far, its over anyway.

 

[Neb]

I am still listening to this now.

https://pro.paradigmnewsletters.org/p/awn_bidenbucks_newlife_0722/LAWNY8AE/?h=true
Biden signed a directive in March for the digital dollar.

Ben

He is selling a news letter.

Ben

 

[angie_nrs]

I looked at PM's today and they are lower than what they were when I made an order at the beginning of the year. What else can you think of that is lower in price now than it was at the beginning of the year? Maybe gas? Although when the reserves are used up, those prices will be short lived. So, in addition to PM's I'm filling those gas tanks too.

Using that logic, I made another order. We stopped our post match IRA contributions a few months ago b/c I don't trust the markets. We were going to buy a piece of property we were interested in, but that deal didn't pan out. So, I thought I'd switch my investment funds to PM's instead.

 

[Biggkidd]

No idea if there would be enough to affect the price but I'd bet quite a few have sold PMs to make ends meet over the last year or so.

 

[Tank-Girl]

I brought some PMs - paid a hefty premium and paid through the nose for priority, secure delivery - that wasn't exactly discrete and I bet it had the crackheads next door wondering.
Cleared the transaction with the bank before I made the buy because large amounts leaving my account get flagged and the bank freezes the transaction and then they ring me to make sure it's "me" doing it.
Their web-site said the metal was available and had none of their usual devious BS of writing an available delivery date
in tiny writing under the number put in the cart - after you've put it in the cart.
The transaction went through, they accepted my money and got a verification e-mail and then......NOTHING!
After two terse and tense phone calls - where they tried their damnedest to sell me vaulting! As if! - My metal was delivered a month after the transaction was completed.
I'm beyond pissed off.
I told the putz on the phone that when silver is at $600 plus an ounce and they're screaming for metal that they'll be the last place I'd be selling to.

 

[Supervisor42]

A little?
It was only above $2K for a few days in March when I shot my mouth off .
View attachment 89184

I'm reading it as on sale, 22% off today.

Ok. I'm guilty of dropping the ball and not watching gold

.
It's at $1,673 today.

 

[Tacitus]

It is so fascinating to see the price go down. Many coins are still constantly out of stock. Current year, full ounce, American Gold Eagles are often the only coin available at my LCS...and even at many online retailers. So, people are obviously holding onto their gold.

I know the global spot price is set by demand for paper gold, not necessarily for physical gold. But, it is still an interesting situation when demand for paper gold goes down, but demand for physical gold remains constant.