Gold and silver prices are down

[Varmint]

Gold is flirting with $1800, some think a strong jobs report tomorrow will tank gold, but I’m not so sure - inflation might be taking over as the driver. Not that inflation by itself is good for gold but the risk of high inflation to other markets could drive people into gold. And if inflation shoots up and the Fed doesn’t raise rates or uses rate control, gold will go ballistic.

 

[Varmint]

Spot gold is $10 over futures price. Nothing to see here folks, move along.

 

[not new guy]

Man I hope gold goes on sale soon.

 

[DJBrad]

Gold is flirting with $1800, some think a strong jobs report tomorrow will tank gold, but I’m not so sure - inflation might be taking over as the driver. Not that inflation by itself is good for gold but the risk of high inflation to other markets could drive people into gold. And if inflation shoots up and the Fed doesn’t raise rates or uses rate control, gold will go ballistic.

We did it!!!

Gold races past $1,800/oz as bond yields, dollar slide

Gold jumped over 1% on Thursday with a weaker dollar and easing Treasury yields propelling it over the key $1,800 psychological level.

www.cnbc.com

 

[Win]

This morning I contacted a numismatic dealer that I've worked with before. There are still a few gold coin "types" that I would like to acquire before gold really takes off. I wanted to try to buy a certified French 100 Franc "Standing Genius" gold coin. He said that he didn't have any and they were very difficult to locate at the moment. He does coin shows every weekend so he would know. I then inquired about a certified Victorian gold 5 Pounds. He said that he owns a few but that he isn't selling at the moment - that he is "more a net buyer than seller." I just told him that I understood - that his position makes sense to me as well. The numismatic market seems hotter than I ever recall though I should note that I'm more of a hobbyist than a real insider.

 

[Varmint]

We did it!!!

Gold races past $1,800/oz as bond yields, dollar slide

Gold jumped over 1% on Thursday with a weaker dollar and easing Treasury yields propelling it over the key $1,800 psychological level.

www.cnbc.com

Yeah and we almost touched $1850! I think $1825 was resistance also and we went through that. The concern is gold miners are not really rallying with gold but that may happen later today. If it does that’s very bullish.

 

[smokey-seven]

Interesting article

April American Eagle silver and gold bullion coins sales down

Demand has cooled for the silver and gold American Eagle bullion coins, with the April figures recording a double digit drop from the sales reports of the previous month.

www.coinworld.com

 

[Manomet]

It reads as though it was written in 2017

 

[Varmint]

Gold and silver selloff in the face of massive inflation would be a gift. It may happen cause the last thing the Fed wants is for the public to see gold going ballistic. So the big players are in there shorting gold right now.

 

[not new guy]

They’ll be doing the one armed paper hanger routine before long though.

 

[Win]

It’s been a gift for a while and will continue to be a gift for as long as it lasts. I’m trying to fill some gold “type” coins I’m missing from my collection before the gift ends.

 

[Varmint]

Gold at $1840, and the gold bears and big banks are probably panicking cause a weekly close above $1850 would put a major hurt on gold bears. The gold paper contract printing machine is overheating trying to meet real demand with paper derivatives.

 

[DJBrad]

Gold at $1840, and the gold bears and big banks are probably panicking cause a weekly close above $1850 would put a major hurt on gold bears. The gold paper contract printing machine is overheating trying to meet real demand with paper derivatives.

Let’s break that m*****f*****

 

[kiver]

Interesting article

April American Eagle silver and gold bullion coins sales down

Demand has cooled for the silver and gold American Eagle bullion coins, with the April figures recording a double digit drop from the sales reports of the previous month.

www.coinworld.com

I think what is also killing the American Eagle is the ridiculous premium they are charging. I picked up some Krugarrand's for $7 less then the AE

 

[RumRunner]

I think what is also killing the American Eagle is the ridiculous premium they are charging. I picked up some Krugarrand's for $7 less then the AE

Yeah, JM is 14.99 over spot. A Sunshine 1oz round is 4.39 over spot. $10+ difference, yikes.

 

[not new guy]

I think what is also killing the American Eagle is the ridiculous premium they are charging. I picked up some Krugarrand's for $7 less then the AE

Same with gold. Was doing some ebay shopping and the premium for US coins were pretty steep.

 

[Varmint]

I think what is also killing the American Eagle is the ridiculous premium they are charging. I picked up some Krugarrand's for $7 less then the AE

The article is stupid, they don’t even realize the US mint is shut down for product changeover. Seemed like a computer generated article.

 

[smokey-seven]

I think what is also killing the American Eagle is the ridiculous premium they are charging.

True, but it's a good thing if you held SE's for a long time. I'd rather buy 90% US silver coin around spot than pay the SE premiums. Hell, check out the premiums for 90% these days. Spot right now is $27.52 and here's the current ask.

JM: 90% Silver Washington Quarters ($100 FV, Circulated) As Low As: $2,676.96

 

[DJBrad]

Hell ya

1850’s mofos. Resistance is futile.

 

[Varmint]

Hell ya

1850’s mofos. Resistance is futile.

View attachment 483387

$1867 now, $1850 is fading in the mirror. There was/is probably a lot of buy orders for gold above $1850. A lot of the big money waits til gold clears major resistance before buying, that drives it quickly to the next major resistance which I think is $1950?

 

[NavelOfficer]

I hope some of you have Hecla Mining Company (HL).

 

[Varmint]

I hope some of you have Hecla Mining Company (HL).

I stick to juniors though I do own SILJ and they’re probably in there. Good day for miners in general.

 

[DJBrad]

I hope some of you have Hecla Mining Company (HL).

HL has a lot of volume due to RH traders who got that as free shares and marketing last year. I’m not surprised the bump. That being said I just have FSAGX as my senior play.

 

[Win]

I have FSAGX as well - my only brokerage link mining option (at least that I could find)

 

[DJBrad]

I have FSAGX as well - my only brokerage link mining option (at least that I could find)

It’s a good choice for a mutual fund and pretty much follows GDX. I like it.

 

[DJBrad]

Can’t complain a 5% gain today in FSAGX. Let’s keep that uptrend shall we?

One thing I must be mindful of is another 2012 scenario where I left it all to burn lol.

 

[Varmint]

Can’t complain a 5% gain today in FSAGX. Let’s keep that uptrend shall we?

One thing I must be mindful of is another 2012 scenario where I left it all to burn lol.

That is a huge gain for 1 day.

 

[DJBrad]

That is a huge gain for 1 day.

Add that to my stock acct gain of 4% and it’s celebratory

 

[Varmint]

Add that to my stock acct gain of 4% and it’s celebratory

Oil stocks up a lot today? I noticed all the industrial metal stuff was way up. I don’t have much of that, and no oil stocks. Never got that pullback.

 

[AJK129]

Got some more of these in, cool coins