Gold and silver prices are down

[xtry51]

"The dollar is strong"

We're watching a bunch of stage 4 cancer patients die. Saying one is stronger than the other is laughable. Don't fall into the propaganda speak.

If someone offered to hand you any paper currency or gold right now, which would you take? That's the only question that matters.

 

[DJBrad]

The western media failed to mention that this meeting that just occured 2 weeks ago in St. Petersburg. Instead it has a hyper focus on social ills and wokeness. BRIC nations met with Russia and China. Western sanctions and SWIFT warfare will arguably be the worst policy decision of the last 50 years. This could have easily changed the course of history for a very long time….

“Together with BRICS partners, we are developing reliable alternative mechanisms for international settlements. The Russian Financial Messaging System is open for connection with the banks of the BRICS countries. The Russian MIR payment system is expanding its presence. We are exploring the possibility of creating an international reserve currency based on the basket of BRICS currencies.”

Greetings to BRICS Business Forum participants

en.kremlin.ru

St Petersburg International Economic Forum Plenary session

The President attended the plenary session of the 25th St Petersburg International Economic Forum.

en.kremlin.ru

 

[tinhorn]

A-a-r-r-r-g-h! $1776?! Hahaha--I held off selling a few 1/10 Britannias when gold was at 1830 because I didn't want to take a beating at that low price. Will need to sell them by the end of the month to pay August's property tax bill. (Dipped into the tax account when I found a must-have revolver.)

I'll tell you guys when I sell them so you'll know we've hit the bottom.

Sheesh.

 

[enbloc]

Sell them here...

 

[enbloc]

Grabbed another roll at $24.25/oz. earlier today. Deal's gone now or I'd double-down...

roughly SPOT + $5

 

[In God We Trust]

Maybe it will hit $40 so I can recoup some of my investment?

 

[enbloc]

Maybe it will hit $40 so I can recoup some of my investment?

You bought as an investment. I buy as a preparation/hedge. I call it "Preparation-H"...

 

[HARRYM]

You bought as an investment. I buy as a preparation/hedge. I call it "Preparation-H"...

And you are correct.

 

[enbloc]

Maybe it will hit $40 so I can recoup some of my investment?

Imagine what those 40 US Dollars will buy you when Inflation really gets going...

 

[AJK129]

You bought as an investment. I buy as a preparation/hedge. I call it "Preparation-H"...

I just like shiny stuff I can hold

 

[76Too]

I just like shiny stuff I can hold

Get your wang pierced.

 

[enbloc]

Get your wang pierced.

 

[76Too]

 

[AJK129]

Get your wang pierced.

I was saving up to get it gold plated

 

[76Too]

I was saving up to get it gold plated

It’d be cheaper today that it was yesterday!

 

[Individualist]

Didn’t hold resistance at 1990. Looking eerily similar to 2011-12.

 

[Win]

I anticipate the dollars strength to be temporary - maybe a couple of months. Investors buy dollars when they are nervous of other investments. But unlike recent history investors can’t stay in dollars for long stretches of time because of the high inflation. They’re going to be forced to redeploy their capital in other investments. IMHO.

 

[Varmint]

I anticipate the dollars strength to be temporary - maybe a couple of months. Investors buy dollars when they are nervous of other investments. But unlike recent history investors can’t stay in dollars for long stretches of time because of the high inflation. They’re going to be forced to redeploy their capital in other investments. IMHO.

Yes, it’s also related to Fed interest rates, if the US is raising rates more than other countries the dollar goes up. When the Fed has to start cutting, as most are predicting as early as this fall, dollar will go down.

 

[DJBrad]

Yes, it’s also related to Fed interest rates, if the US is raising rates more than other countries the dollar goes up. When the Fed has to start cutting, as most are predicting as early as this fall, dollar will go down.

Until then could gold continue to test lower lows? We could be looking at $1500 by fall if things continue at this rate. Gold futures at $1737 so it’s breaking down even further.

 

[Varmint]

Until then could gold continue to test lower lows? We could be looking at $1500 by fall if things continue at this rate. Gold futures at $1737 so it’s breaking down even further.

The trading range for gold is $1680 to $2000, we're still in that range unless we break below $1680, which I think is very unlikely.

No way the Fed can keep up the pretense til fall, they'll pause before then, and gold will go ripping up.

 

[DJBrad]

Didn’t hold resistance at 1990. Looking eerily similar to 2011-12.

View attachment 634401

I would argue the entire economic picture reflects moreso 2007-2008 instead. Right at the beginning of your chart. Too many factors are going to play well for gold. Back in fall/winter 2008 gold and commodities bottomed. A handle is still being formed on that cup of 10 years right now. Another thing to note is oil spiked in spring 2008 then crashed. Just saying

 

[Individualist]

I would argue the entire economic picture reflects moreso 2007-2008 instead. Right at the beginning of your chart. Too many factors are going to play well for gold. Back in fall/winter 2008 gold and commodities bottomed. A handle is still being formed on that cup of 10 years right now. Another thing to note is oil spiked in spring 2008 then crashed. Just saying

I was hoping it would be more like 2008-9 but where it broke through and closed above resistance then, it did not do so in 2011-12 and again did not close and hold above the 1990ish resistance now. Almost cookie cutter as if controlled by the same algorithm… if you believe in conspiracy theories.

2008-9


2011-12


Now


If the 10-year cup and handle does play out then we need to see short term 1712 or thereabouts hold the line. If that fails then 1567 ish is the long term line to retain the pattern.

 

[alan226]

Is Boston Bullion reputable?

They are listing the Philharmonics at $23.87 and Maple Leafs at $24.38 and regular silver rounds at $22.58

 

[Alien]

Is Boston Bullion reputable?

They are listing the Philharmonics at $23.87 and Maple Leafs at $24.38 and regular silver rounds at $22.58

I have purchased from Ken on four different occasions. I have been happy with the price and purchase each time. A few days ago gold dropped to where I wanted to purchase some more gold eagles. I was not able to get Ken on the phone so I purchased from SD bullion. That order is arriving tomorrow. I would not hesitate to do business with Ken at Boston Bullion.

make sure you put them in your cart to see the total price.

 

[alan226]

I have purchased from Ken on four different occasions. I have been happy with the price and purchase each time. A few days ago gold dropped to where I wanted to purchase some more gold eagles. I was not able to get Ken on the phone so I purchased from SD bullion. That order is arriving tomorrow. I would not hesitate to do business with Ken at Boston Bullion.

make sure you put them in your cart to see the total price.

Do you know if you can walk in off the street and plunk down cash to purchase?

 

[Zarathustra11]

Is Boston Bullion reputable?

They are listing the Philharmonics at $23.87 and Maple Leafs at $24.38 and regular silver rounds at $22.58

Yes, Ken is a great guy to do business with - whether you're buying or selling

I would call ahead to give him a heads up, I've been there when there were lines with appointments only

 

[Alien]

I have purchased from Ken on four different occasions. I have been happy with the price and purchase each time. A few days ago gold dropped to where I wanted to purchase some more gold eagles. I was not able to get Ken on the phone so I purchased from SD bullion. That order is arriving tomorrow. I would not hesitate to do business with Ken at Boston Bullion.

Do you know if you can walk in off the street and plunk down cash to purchase?

As stated on his website you must call for an appointment. You cannot show up unannounced and knock on the door. When you call to schedule your appointment tell him what you’re interested in to make sure he has it in stock.

I have made 4 cash purchases and my last order was a shipped order with wired funds. The problem with a cash sale is the price is not locked in until you are at his desk paying cash. If you are going to do a wire transfer he will lock in the price while you are on the phone. You are limited to $10,000 cash on purchases. There is no limit on wired funds.

 

[chris_1001]

Can we have $30 silver again? This blows. Inflation it at record rates by my silver keeps dropping.

 

[strangenh]

Can we have $30 silver again? This blows. Inflation it at record rates by my silver keeps dropping.

Silver is used significantly - really, primarily these days - in industry, so its price tends to drop in recessions. It's gold that's really confusing right now.

 

[Varmint]

Can we have $30 silver again? This blows. Inflation it at record rates by my silver keeps dropping.