mornin oldman11 not a whole lot is happenin .. they was down earlier .. what kinda movement are ya seein? either way gold aint a buy right now .. internet tokens are down sharply ..
If you are a gold and silver dealer sitting on a bunch of inventory, shit is hitting the fan for you. Gold is down to about a 18 to 20 month low. Not a horrible buy. I'm probably going to buy some here fairly soon. I sold almost all my gold at 1,350 when I was telling people not to buy.
I had to sell off a good bit of mine about a year ago to help my daughter,, was wanting to restock. Looks like I need to start watching prices again. Can anyone speculate on how low they're expecting prices to go ?
Knee Jerk Reaction to some false news. Never found any Gold I could Eat or keep me warm. Makes pretty poor bullets and takes to much to build a cabin. Kinda cold to snuggle up to.
Bottom of this gold market down turn is supposed to be around $1,180. I think it could go as low as $1,150. The gold price is down because our stock market is soaring, the price of oil isn't that scarry and China is still doing a massive commodity sell off. Not a knee jerk this has been going on for the last 2 months. Gold doesn't knee jerk lower, it typically slowly creeps lower and shoots up or knee jerks up when there is bad news. Cash, gold reserves are precisely what you want during a financial melt down.
I keep all my Reserves in my pocket. Never have to pay a commission or worry about the ups and downs.
The Old time Ranchers and Doctors around here never had Bank accounts and both always controlled large amounts of commerce. Ready Cash Money talks and I have seen some amazing exchanges from one front pocket to another's. No checks, no let me cash in my gold,just cash transactions. Free trade at work. In fact I'm living on part of what use to be a 1400 acre small ranch. Oldman died kids rushed to sell it off.
I assume this is an open question? Silver is a manufacturing metal, good times mean its use goes up so figure it to go up if good times roll.
Junk silver is pocket money, always good to have around along with FRNs until things bottom and settle out. FRNs are scrip and always possible to be devalued or have the color changed.
I have been watching gold like a hawk these pass months exactly for the reasons you gave. I still don't think it is quite the right time for purchase yet as see the economy continue to gain ground, deregulation continue and the administration continue to be business friendly which will cause gold to go down even further. I expect to see a quick peak/bubble as people pull the trigger to purchase but then continue down. Oh, I think also it will go as low as $1150, possibly more. I don't think it will get down to $1000 but somewhere between $1000-$1150 is what I am betting. Well, it might get to a $1000 if Trump gets in for a second term... I think gold is a real indicator of economic certainty and the people's faith in it. My intent is to purchase a big chunk (coins) for insurance so I will continue to watch because cannot see anything that would hurt the economy for the next 2 years besides a war so...
Fact is all fiat currencies have always failed throughout history. There is no exception. Rubles, dollars, yen, the list goes on will also eventually fail. Gold, silver, and other metals are the opposite - over the course of thousands of years they have kept value. During those thousands of years fiat currencies have all come to nothing. Notice how the US dollar has decreased in value about 5% per year for quite some time. The price of virtually everything has gone up. Other fiat currencies have decreased in value even more. Put $100 in your pocket for a year. Next year that $100 is only worth $95 of what it was. Year after year this occurs. Not a great way of staying wealthy. I find it a good idea of value to keep some gold and silver on hand just in case. Bitcoin is also anti-fiat and could very well change the world much as engines changed the use of horses and the printing press knocked out the use of scribes.
bitcoin has crashed in a yuuuuuuuuuuuuuuuuuuge way it went from an artificially inflated $20,000 to a still artificially inflated $6,492 in a real short period of time other internet coins have gone to near $0 nvidia said it expects their revenue from selling mining chips to drop to about $0 in the near future
But if ya bought bitcoin under 10 bucks .. it gained in a yuuuuuge way as well. I guess timing is everything. That said .. only exchange fiat for crypto if you can afford to lose both.
With comparisons being made to the economy now doing as well as the economy did in the late 1990s and early 2000s the gold price was around 200 to $400 per ounce. No one wanted gold when you could put your money in the stock market make a crap load of money. If the economy continues to boom we may see a return to the historic 1:1.5 gold/platinum ratio. Which if platinum stayed around $1000 an ounce that would put gold around $650. In a booming economy platinum usually stays around $900 to $1,200 an ounce.
Platinum is down because of the Asian commodities sell off. Everyone holding platinum over there is selling it now so they don't get hit with tariffs later on. All this excess supply is coming out of china. It's probably a good buy being at a 7 year low. As far as PM goes I have the most money tied up in platinum right now.