Gold and silver prices are down

[Varmint]

I think the double bottom in GDXJ as indicated in this chart will be a great time to buy the larger miners if it happens. Some juniors are very cheap right now but others are not (Great Bear).

Silver stocks are kinda risky cause if there's a scare about economic slowdown that could hurt silver (while helping gold). Silver stocks are very cheap but could get cheaper.

Well, it was just the right time to jump back into gold and gold stocks today. Tax loss selling is about extinguished. I don’t think they’ll get much lower. A disinflationary event in 2022 is possible for all commodities. Bullish.

 

[76Too]

How much will they give me for the Morgans?

How much do you WANT for the Morgan’s!?!?

I’m kinda kidding, but really I’m not

 

[HappyHarry]

Or maybe the opposite, cause anyone who loaded up on $35 gold in the 60s is rich now.

Holding gold from the 60's until now would have been a horrible investment. besides the fact that from 1933 until 1974 it was illegal for U.S. citizens to own gold bullion. If you bought gold in 1961 at $35 and now, 60 years later it's at $1780, then you've effectively earned about 6.77% compounded annually. If you invested elsewhere wisely and were able to earn, say 8.5%, then your $35 would now be worth $4675, and you wouldn't have had 60 years worth of storage and security issues.

 

[Varmint]

Holding gold from the 60's until now would have been a horrible investment. besides the fact that from 1933 until 1974 it was illegal for U.S. citizens to own gold bullion. If you bought gold in 1961 at $35 and now, 60 years later it's at $1780, then you've effectively earned about 6.77% compounded annually. If you invested elsewhere wisely and were able to earn, say 8.5%, then your $35 would now be worth $4675, and you wouldn't have had 60 years worth of storage and security issues.

Let’s be fair and pick 1971 since the gold price was fixed until then.

Gold return from 1971 to 2021 was 8.23%. The S&P returned 7.69% during the same span. And that’s when the gold to s&p500 ratio is at a 15 year low. Let’s check again in 2 years.

 

[HappyHarry]

Let’s be fair and pick 1971 since the gold price was fixed until then.

Gold return from 1971 to 2021 was 8.23%. The S&P returned 7.69% during the same span. And that’s when the gold to s&p500 ratio is at a 15 year low. Let’s check again in 2 years.

I don't think that S&P return you're quoting takes dividends into account. The S&P has an overall average dividend of about 2% per year.

There are lota of arguments for and against precious metals as a serious investment, but despite owning a relatively small amount as a SHTF, last ditch store of value, I think they consistently prove to be poor investments. I have people who have been buying precious metals and numismatic coins from me for many years who would be worth far more had they been buying quality stocks all those years.

 

[smokey-seven]

I have people who have been buying precious metals and numismatic coins from me for many years who would be worth far more had they been buying quality stocks all those years.

I hear and agree with that statement, unless you take the people that buy and SELL in the market.

I've been dealing in and out of silver since 1964 when you could buy 90% at face value. I have sold and re bought many times sine then.

The market swings in spot silver are a money maker when properly played and even with the 2% dividend, my silver is outperforming the stock market.

 

[smokey-seven]

How much will they give me for the Morgans?

Yea, put me on the interested party list as well.

 

[HappyHarry]

I hear and agree with that statement, unless you take the people that buy and SELL in the market.

I've been dealing in and out of silver since 1964 when you could buy 90% at face value. I have sold and re bought many times sine then.

The market swings in spot silver are a money maker when properly played and even with the 2% dividend, my silver is outperforming the stock marke

You can certainly do well if you can constantly buy and sell, flipping for a profit, just as you can outperform the S&P doing the same with stocks. I was comparing holding metals vs. S&P long-term.

 

[Varmint]

I don't think that S&P return you're quoting takes dividends into account. The S&P has an overall average dividend of about 2% per year.

There are lota of arguments for and against precious metals as a serious investment, but despite owning a relatively small amount as a SHTF, last ditch store of value, I think they consistently prove to be poor investments. I have people who have been buying precious metals and numismatic coins from me for many years who would be worth far more had they been buying quality stocks all those years.

Gold is not an investment, it’s insurance, which never looks like a good investment until you need it.

You can buy gold as a trade cause it tends to have long bull and bear markets. But you can’t just buy and hold like you can with assets the Fed is backing (stocks, bonds and real estate). I’m big into gold miners but they are NOT a buy and hold investment.

People buy gold instead of Tesla cause when gold’s price is down they know it’s temporary. When Tesla is down people (who don’t think the Fed is all powerful) worry if it’ll keep going to zero.

The S&P500 is weighted to the stronger stocks, so it drops the ones going down, making the returns look stronger than stocks in general. So you can’t use the S&P500 as a representation of your stock returns unless you actually own an S&P500 ETF (with fees also not represented in the return).

 

[Varmint]

I hear and agree with that statement, unless you take the people that buy and SELL in the market.

I've been dealing in and out of silver since 1964 when you could buy 90% at face value. I have sold and re bought many times sine then.

The market swings in spot silver are a money maker when properly played and even with the 2% dividend, my silver is outperforming the stock market.

That’s in a way the benefit of gold and silver (and their miners). They actually behave like a free market so you can buy when they’re cheap. You can’t do that anymore with most stocks because the Fed won’t let the stock market correct. All you can do is buy at either a new all time high, or 4% off the latest all time high. That’s not how I like to invest.

 

[xtry51]

You can always earn more money on other investments. The issue is the risk of doing so, as typically it means handing your mo ey over in exchange for a piece of paper and hoping you get money back in return. The very nature of gold is you hold a physical asset not at risk to a third party. It's a completely different invesent type than lending money, which is what the vast majority of other options are

 

[sacksjacked]

I think the double bottom in GDXJ as indicated in this chart will be a great time to buy the larger miners if it happens. Some juniors are very cheap right now but others are not (Great Bear).

Silver stocks are kinda risky cause if there's a scare about economic slowdown that could hurt silver (while helping gold). Silver stocks are very cheap but could get cheaper.



View attachment 549457

juniors are cheap and will get cheaper. entire sector is hated/avoided right now. this can mean some lower than you think prices. i'm not complaining. i welcome the sale prices.

 

[sacksjacked]

That’s in a way the benefit of gold and silver (and their miners). They actually behave like a free market so you can buy when they’re cheap. You can’t do that anymore with most stocks because the Fed won’t let the stock market correct. All you can do is buy at either a new all time high, or 4% off the latest all time high. That’s not how I like to invest.

Plenty of good companies out there to invest in, even in this JPOW printer press environment. That's where solid DD comes in handy to find the gems.

 

[sacksjacked]

You can certainly do well if you can constantly buy and sell, flipping for a profit, just as you can outperform the S&P doing the same with stocks. I was comparing holding metals vs. S&P long-term.

Constantly buying and selling for a profit sounds like an easy plan. Easier said than done to constantly find "buy low, sell high" plays. I prefer to sit in the corner until I see a clearance aisle price then load up.

 

[Varmint]

Plenty of good companies out there to invest in, even in this JPOW printer press environment. That's where solid DD comes in handy to find the gems.

Yeah, true. A few gems are keeping my miner portfolio from being a disaster. Like Great Bear which is up 940% for me.

 

[sacksjacked]

Yeah, true. A few gems are keeping my miner portfolio from being a disaster. Like Great Bear which is up 940% for me.

Great Bear Resources? Must have owned it for a while because past year it hasn't done much, like most miners.

My comment was meant for other sectors, outside of the PM sector.

 

[Varmint]

Great Bear Resources? Must have owned it for a while because past year it hasn't done much, like most miners.

My comment was meant for other sectors, outside of the PM sector.

Yeah, I started buying miners in 2016. But I meant that with due diligence or good stock picking you can buck the trend. Great Bear is up 40% on the year vs negative for most miners.

 

[sacksjacked]

Yeah, I started buying miners in 2016. But I meant that with due diligence or good stock picking you can buck the trend. Great Bear is up 40% on the year vs negative for most miners.

resource stocks are nothing more to me than a guy with a mule and a shovel looking for gold. doesn't matter what the price of gold or silver is, they don't have any of it. once in a while you can land into a promising play but for the most part they are absolute dog$hit and i avoid them. i prefer mid tier producers and the big boys if they are being sold at a discount to their ev/ebitda.

 

[DJBrad]

And Evergrande has finally defaulted on the debt payment. Bada Bump.

 

[Varmint]

resource stocks are nothing more to me than a guy with a mule and a shovel looking for gold. doesn't matter what the price of gold or silver is, they don't have any of it. once in a while you can land into a promising play but for the most part they are absolute dog$hit and i avoid them. i prefer mid tier producers and the big boys if they are being sold at a discount to their ev/ebitda.

You mean explorers, yes they say Mark Twain said a gold mine is a hole in the ground with a liar standing next to it.

I’m the opposite though, I don’t like producers, too many risks and limited upside. An explorer like Great Bear paid like $2 million for the rights to their property and now it’s worth a half billion. I got in late and still got a 10 bagger.

I use a couple paid newsletters for junior miners cause without an expert digging through the details you’ll get burned. When I’ve bought explorers and other miners that weren’t picked by one of the newsletters I usually regret it.

I prefer junior explorers and developers cause if they’re getting good drill results they can do great even when gold is going down. Covid has hurt them cause the assay labs are backed up, and in some countries the teams can’t get in to drill. Also it’s hurt takeovers cause companies can’t go visit potential acquisitions. But I’m patient.

 

[sacksjacked]

You mean explorers, yes they say Mark Twain said a gold mine is a hole in the ground with a liar standing next to it.

I’m the opposite though, I don’t like producers, too many risks and limited upside. An explorer like Great Bear paid like $2 million for the rights to their property and now it’s worth a half billion. I got in late and still got a 10 bagger.

I use a couple paid newsletters for junior miners cause without an expert digging through the details you’ll get burned. When I’ve bought explorers and other miners that weren’t picked by one of the newsletters I usually regret it.

I prefer junior explorers and developers cause if they’re getting good drill results they can do great even when gold is going down. Covid has hurt them cause the assay labs are backed up, and in some countries the teams can’t get in to drill. Also it’s hurt takeovers cause companies can’t go visit potential acquisitions. But I’m patient.

producers all the way for me. kirkland, pan american, agnico. royalty plays i also have done well with.

 

[richc]

Pallets of silver coins seized in international fraud case tied to South Dakota

KELOLAND Investigates has obtained photos of evidence seized in an international wire fraud and money laundering case tried in South Dakota.

www.keloland.com

 

[Varmint]

producers all the way for me. kirkland, pan american, agnico. royalty plays i also have done well with.

You should reconsider.

Kinross buying Great Bear for $1.8 billion. Kinda disappointed as usual when a favorite junior gets bought out but at least it’s at a premium.

Kinross Gold to Acquire Great Bear Resources for C$29.00 per Share, Plus a Contingent Value Right

Significant premium of 40% to Great Bear's 20-day VWAP on the TSX-V for Great Bear shareholders Option to select cash or Kinross common shares as c...

www.juniorminingnetwork.com

 

[HKcalnut]

I know my kids will never to pick up the difference of a silver quarter or dime on how much it sounds different when you are dropping change. All the new stuff is towards having an intangible value.

 

[smokey-seven]

they say Mark Twain said a gold mine is a hole in the ground with a liar standing next to it.

I thought that was, "a lawyer standing next to it." but I may have misheard.

my kids will never pick up the difference of a silver quarter or dime on how much it sounds different when you are dropping change.

Way back in Uncle Sugar's navy when they were taking the silver out of the coins, I would bet with my fellow sailors that I could turn my back to them while they dropped a coin on steel deck plates while in the engine room with 2 or 3 diesels running close by. I would tell them what the coin was (dime quarter or half ) and if it was silver or clad. I needed a witness on my side as they always tried to cheat after they lost a couple times. My hearing is nowhere near that today but if a 90% coin is in my change, I instantly know it from the sound.

It is also why cash registers had a marble shelf above the cash drawer. Drop a phony coin on the marble and if it's a dud, you would know from the sound right away.

 

[Varmint]

I thought that was, "a lawyer standing next to it." but I may have misheard.


Way back in Uncle Sugar's navy when they were taking the silver out of the coins, I would bet with my fellow sailors that I could turn my back to them while they dropped a coin on steel deck plates while in the engine room with 2 or 3 diesels running close by. I would tell them what the coin was (dime quarter or half ) and if it was silver or clad. I needed a witness on my side as they always tried to cheat after they lost a couple times. My hearing is nowhere near that today but if a 90% coin is in my change, I instantly know it from the sound.

It is also why cash registers had a marble shelf above the cash drawer. Drop a phony coin on the marble and if it's a dud, you would know from the sound right away.

It’s liar, and holds true today since most junior miners are worthless holes in the ground with someone trying to make money off it.

 

[76Too]

Can someone please explain to me what the f*** is going on?

Inflation came in again today and it’s above 6% (excluding food/fuel which is f***ing retarded I might add).

How the hell is gold holding so steady?

How are ‘they’ (big banks) manipulating the price of gold to this level and keeping the price from skyrocketing?

 

[Varmint]

33 lbs of Roman silver coins discovered in German river bed.

 

[DJBrad]

Can someone please explain to me what the f*** is going on?

Inflation came in again today and it’s above 6% (excluding food/fuel which is f***ing retarded I might add).

How the hell is gold holding so steady?

How are ‘they’ (big banks) manipulating the price of gold to this level and keeping the price from skyrocketing?

End the Comex. Simply put unless the paper market is destroyed gold will have a very hard time to have genuine price discovery. The banks dump paper contracts on the market in huge quantities to drop the spot price. Over and over again and every time is crosses $1800. It’s crazy that this has happened multiple times this year in such perpetuity. One theory is that central banks want to continue to buy cheap gold so it’s suppressed in paper futures markets to keep it cheap. Other than those 2 scenarios I don’t know what else to say.

In terms of steadiness there is a handle still forming on the charts that is connected to the 10 years old cup. Classic cup and handle and a huge one at that. That’s quite bullish for a massive rise in price. The banks and bears can only do this to gold so much longer.

 

[sacksjacked]

Can someone please explain to me what the f*** is going on?

Inflation came in again today and it’s above 6% (excluding food/fuel which is f***ing retarded I might add).

How the hell is gold holding so steady?

How are ‘they’ (big banks) manipulating the price of gold to this level and keeping the price from skyrocketing?

It's a clown market. Nothing is explainable. But it won't be a clown market for long. Buy when you can and sleep like a baby at night. Chickens will come home to roost soon enough.