Remember when I said they wouldn't allow $2k gold? Inflation is 15-20% and gold is less than it started the year.
The entire paper market is fake.
The entire paper market is fake.
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Gold and silver prices are down
- Thread starter Rider
- Start date
Varmint
NES Member
Or they want to take advantage of the fire sale and don’t have cash, so they sell gold, knowing it won’t bounce 20% in a month.
Just punched above $1800
Varmint
NES Member
August might be a great month for gold
Varmint
NES Member
August might be a great month for gold
Followed by crappy September. Seen this film before.
Just broke $1800 resistance. Very good 
richc
NES Member
Bought some NEM recently. They've been crushed with lower commodity prices. They were up in the mid 80's in April. Now down to mid 40's.
I bought JNUG and I’m still adding to my FSAGX. Poised for some substantial gains over the next couple years.
Varmint
NES Member
Just broke $1800 resistance. Very good
Double post
Varmint
NES Member
Yes! Buy miners now, not when they’re in a raging bull market.
yogi
NES Member
Interesting WSJ article. This link should get you past the pay wall:
www.wsj.com
A Strong Dollar and Weaker Chinese Yuan Both Drag Down Gold
Investors often rush to buy the haven asset gold when inflation is high, but a strong dollar combined with a weaker yuan are bad news for gold bugs.
www.wsj.com
Amusing:
canadatoday.news
The worst performing precious metal, silver, may have bottomed out - Canada Today
(Bloomberg) - Silver has been the worst-performing major precious metal in 2022, but prices may have fallen enough to trigger a modest recovery.
canadatoday.news
Gold on the Comex is up to $1814. Looks like it sniffing out the inflation report.
yogi
NES Member
US Mint just released 2022 1 oz Silver Eagle Proofs with San Francisco mint mark. I buy two Wes Point and two San Fran every year for my kids. They are nice coins and new reverse side is cool:
Ungraded? What are they running?
yogi
NES Member
Ungraded Proofs are $73 no tax. A bit pricey but over the years proofs have done well.
yogi
NES Member
Just checked the US Mint site, 1oz proof silver eagles S mint is sold out.
Varmint
NES Member
Can I interest you in some paper silver? It’s just like the real thing and much cheaper.
JPMorgan Precious-Metals Traders Found Guilty in Spoofing Trial
The former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader were convicted in Chicago on charges they manipulated markets for years, handing the US government a win in its long crackdown on bogus “spoofing” orders.
www.bloomberg.com
We did it. Let’s see if it holds eod.
Individualist
NES Member
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You are here…. Inflection point. IMHO if it cannot reverse the trend down and ultimately hold a close above 1990, then it is still more likely to go down.
Ugh…I guess I need to decide whether I have the stomach to hold for another 7 years.
Turbulent times, indeed. I wish I knew how to invest and not just buy high/sell low.
Individualist
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You can always not try to guess and time the market by cost averaging - buying a similar $$$ amount monthly.
Varmint
NES Member
I think if you want to look at support and resistance levels I would use the futures price rather than spot, cause the spot price includes storage costs and speculative traders are using the futures market. Gold finished at $1812 on the futures market after a nice bounce off $1800 today.
Varmint
NES Member
If it feels good to buy something, you’re probably buying high. Buy when it makes you sick to your stomach to buy.
Varmint
NES Member
I dont worry much about the gold price, it’s in a trading range til something breaks or the Fed does their next Powell pivot. The stock market thinks that’s imminent, I don’t think so. It’s a chicken and egg thing. Powell won’t turn dovish until the stock market tanks, and the market won’t tank cause it thinks Powell will turn dovish soon.
NJ man arrested for allegedly conning woman into buying $330K in gold bars at Hadley jeweler
NJ man arrested for allegedly conning woman into buying $330K in gold bars at Hadley jeweler
HADLEY — A joint investigation by the FBI and Hadley police this week led to the arrest of a New Jersey man who allegedly convinced an Athol woman to buy $330,000 of gold bars from a local jewelry store in Hadley.Gaurang Contractor, 38, pleaded not...
www.gazettenet.com
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