Gold and silver prices are down

Gold looking good. Yes, if the Russia thing fades it'll drop but the trend was up before Russia, and the Canadian Communists up north are probably helping gold.

Gold and silver juniors are still dirt cheap, though some have moved 20% off the bottom already.

Clive Maund Technical Analysis

www.clivemaund.com

gold4year200222.jpg


barrick6month200222.jpg
 
xtry51 said:
Are you sure that is Ukraine driven and not Canadian bank run driven? A shit ton of people pulled money from banks when Trudeau used the emergency powers.
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Some of that yes, and gold was moving up before the Russia thing. But the $50 move to $1950 is definitely the invasion, it jumped on the news.
 
Coyote33 said:
OK, what are "silver juniors"?

Another quick question, how would people know, recognize, or believe some of these odd coins, like the kiwi farmer one above? To me, it looks like cereal box money.
Click to expand...

Sorry, silver juniors are junior silver mining stocks, like $200 million market cap or less. Explorers with no defined resource or developers who have a resource but haven’t built a mine yet.
 
ASHDUMP said:
I was watching my silver stocks rise a bit.... Then checked this afternoon and was like WTF. Someone has to be pulling strings somewhere. The world is in a f***ing tailspin and everyone is selling off gold and silver?
Click to expand...

At times folks liquidate gold holdings to cover margin calls. Not sure if that's the case this time.
 
ASHDUMP said:
I was watching my silver stocks rise a bit.... Then checked this afternoon and was like WTF. Someone has to be pulling strings somewhere. The world is in a f***ing tailspin and everyone is selling off gold and silver?
Click to expand...

Silver went up today as part of the fear trade + commodity inflation trade. When both of those faded later in the day, silver went back down, taking the silver stocks with it.

Silver stocks won't perform until gold breaks $1900 for good (like if it goes to retest $2080). That may not happen til the Russia scare is passed.
 
enbloc said:
^^^
This situation always makes me wonder how well the masses will embrace silver and gold as cash (especially something as discernable as a Maple Leaf) in a Fiat-is-worthless scenario... 🤪
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I've wondered the same, and when I've bought gold or silver it was with a view toward saleability. I think more folks are familiar with 90% junk silver than with odd foreign coins, and I don't know how many would trust silver or gold bars unless they were sophisticated enough to test them. Even then, they'd just be testing the surface. Fisch testers, magnet slides, and common coins for me!

Long ago I read a couple of (presumed) real-world SHTF experiences in foreign countries that melted down. One thing that surprised me was that people found it easier to barter with gold jewelry than with bars or bullion. No idea how bad a beating they took on the value, though.
 
enbloc said:
^^^
This situation always makes me wonder how well the masses will embrace silver and gold as cash (especially something as discernable as a Maple Leaf) in a Fiat-is-worthless scenario... 🤪
Click to expand...
tinhorn said:
I've wondered the same, and when I've bought gold or silver it was with a view toward saleability. I think more folks are familiar with 90% junk silver than with odd foreign coins, and I don't know how many would trust silver or gold bars unless they were sophisticated enough to test them. Even then, they'd just be testing the surface. Fisch testers, magnet slides, and common coins for me!

Long ago I read a couple of (presumed) real-world SHTF experiences in foreign countries that melted down. One thing that surprised me was that people found it easier to barter with gold jewelry than with bars or bullion. No idea how bad a beating they took on the value, though.
Click to expand...
There does appear to be a lot of confusion among the general public. I would say that most survivalist types I've known are at least familiar with the concepts of gold and silver as barter money if they are not hoarders of gold and silver themselves.
 
Win said:
There does appear to be a lot of confusion among the general public. I would say that most survivalist types I've known are at least familiar with the concepts of gold and silver as barter money if they are not hoarders of gold and silver themselves.
Click to expand...
That's why the masses will go to trusted family members and honorable locals who can determine if genuine PM or not. The guy with an XRF will be priceless...
And wealthy! Charging 5% a pop will add up fast...

1645823101315.png
 
My guess is the World's Oldest Profession will be better barter than Silver or Gold...

Another guess: When the World Economy goes tits-up.
People won't hesitate to take a cordless drill or a pair of dykes to a beautiful numismatic AU/AG coin to see if it is real or plated or tungsten core or...

1645824619230.png 1645824641062.png
1645824679630.png 1645824837586.png < 100 troy oz silver bar with lead cores.
 
Last edited:
enbloc said:
My guess is the World's Oldest Profession will be better barter than Silver or Gold...

Another guess: When the World Economy goes tits-up.
People won't hesitate to take a cordless drill or a pair of dykes to a beautiful numismatic AU/AG coin to see if it is real or plated or tungsten core or...

View attachment 582269View attachment 582270
View attachment 582271View attachment 582274< 100 troy oz silver bar with lead cores.
Click to expand...

Man, he fell for the chocolate Kruggerand trick!
 

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