413guy
NES Member
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Gold and silver prices are down
- Thread starter Rider
- Start date
Varmint
NES Member
Oh ok, yeah, Apmex always quotes a higher spot price, I think they build in their own delivery cost or something. I use the futures price since that's what traders are using - so support/resistance levels will be more accurate.
Gold Feb 23 (GC=F) Stock Price, News, Quote & History - Yahoo Finance
Find the latest Gold Feb 23 (GC=F) stock quote, history, news and other vital information to help you with your stock trading and investing.
finance.yahoo.com
Currently $1901.
Varmint
NES Member
Gold is making a run for it!
$1911, got as high as $1913.
Need a weekly close over $1900.
$1911, got as high as $1913.
Need a weekly close over $1900.
Win
NES Member
I’m not sold on the gold breakout. Bitcoin at 19k indicates a lot of selling left.
Varmint
NES Member
it’s definitely not a breakout yet anyway, and even if we get through $1900 there’s huge resistance at $1950 and $2000. Then it’s back to test $1750 or something.
We’ll get that breakout above $2000 when the Fed pivots, but I think that’s farther away then the markets think.
If they are selling into a rising price, then they are OK. It's the buy back in that costs.
It's all manipulated. 'They' make money on the way up and they make money on the way down!
Varmint
NES Member
Too early to say they’re wrong, if we close under $1900 today it’s probably going down. There’s definitely some warning signs in this gold rally. Silver isn’t participating and volume in miners is low.
It’s ok, hitting $1900 even briefly is a great sign and a pullback to $1780 or $1800 is perfectly healthy. You don’t want gold to go straight to $2100, cause it would probably do a round trip.
richc
NES Member
Decent deal...
www.apmex.com
Buy 1 kilo Silver Bar - Secondary Market | APMEX
1 kilo Silver Bar - Secondary Market | Largest selection & fast free shipping on orders $199+.
Well gold certainly is getting bid after Yellen’s warning to Congress on the debt obligations. This should be fun to see after 2022’s tax loss selling if income tax receipts even come close to what 2021 brought in! We’re in big trouble folks…
Varmint
NES Member
Wait what happens in 4 hours? ![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
Miner and silver rally seems tapped out, they barely went up today, but still great close to the week. All those experts calling for $1500 or even $1400 gold - GLWT.
Miner and silver rally seems tapped out, they barely went up today, but still great close to the week. All those experts calling for $1500 or even $1400 gold - GLWT.
Varmint
NES Member
Could be some China reopening effect on gold too. Chinese have been saving up for 3 years now, maybe we can get them to buy some of our new Treasuries?
richc
NES Member
Wait what happens in 4 hours?
Miner and silver rally seems tapped out, they barely went up today, but still great close to the week. All those experts calling for $1500 or even $1400 gold - GLWT.
On a percentage basis silver was up more than gold today. Silver was up over 2%, while gold was up about 1.3%.
Am I missing something?
I have a question for you experts here...
Say I have 50 oz of gold in a health mix of 1oz coins, fractional coins, some pre-1932 coinage and a few 1oz bars. Of course, the minimum value one would expect at any given time would be melt value. Given the description above, what would a fair percentage premium over melt would you guys think would be a fair estimate of real value (in FRN's)?
10%?
20%?
36.43%?
What say you PM wizards of NES?
Say I have 50 oz of gold in a health mix of 1oz coins, fractional coins, some pre-1932 coinage and a few 1oz bars. Of course, the minimum value one would expect at any given time would be melt value. Given the description above, what would a fair percentage premium over melt would you guys think would be a fair estimate of real value (in FRN's)?
10%?
20%?
36.43%?
What say you PM wizards of NES?
richc
NES Member
Are you selling to a dealer, or personal sale?
That makes a difference.
Personally, if selling by myself, I'd look at melt, and what dealers are selling for, and price it in the middle. Win-win.
Great idea. That addresses my concern whereby dealer prices are vastly over inflated.
![[rockon]](/xen/styles/default/xenforo/smilies.vb/020.gif "Rockon [rockon]")
Thanks!
They gotta make money somehow?Great idea. That addresses my concern whereby dealer prices are vastly over inflated.
Thanks!
I’ve had good luck buying here through personal sale and other sites in FTF transactions.
This is true but there is some price gouging going on, that's for sure!
richc
NES Member
Supply and demand. An informed buyer/seller will always do better.
Again, quite true sir!
Apmex and jm bullion list buy prices for lots of things on their websites.
Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion
Current “sell to us” price of $1,963
Varmint
NES Member
Compare the charts of the last month of silver and gold. Silver is flat and was actually higher than today, while gold just went straight up. Silver should be up around $26 with gold at these levels.
It’s just one negative indicator, there are a lot of positive ones, especially now that gold closed the week not just above $1900 but above the next resistance level at $1920.
Gold and silver miners who tend to lead gold are also acting very bullish although overdue for a short term pullback.
The great thing is so many gold experts have been predicting $1500 gold, and that’s looking very unlikely now. Now they have to scramble to get into positions $400 higher than they wanted.
Varmint
NES Member
Varmint
NES Member
Agree, just don’t sell now, right as the next secular bull market in gold is getting going.
Varmint
NES Member
Interesting article I missed. Zoltan Polzar is considered the leading expert on Fed policy and the Fed consults with him.
He’s saying Russia could peg gold to oil and instantly double its price (in that an ounce of gold buys twice as much oil as $1800 does).
He’s saying Russia could peg gold to oil and instantly double its price (in that an ounce of gold buys twice as much oil as $1800 does).
If Russia accepts gold for oil, gold price doubles to $3,600, says Credit Suisse's Zoltan Pozsar
Outlook 2023
www.kitco.com
Varmint
NES Member
So…about that afterhours chat. Are you content?
I’d be a little happier if my miners moved up more than 1% on gold breaking $1900, but that’s just being greedy.
Varmint
NES Member
My paid newsletter guy is predicting a failed attempt to break $2000, a retracement to $1850 or $1680-1700 (like if we have a major stock market correction), then a successful break through $2000-2100 on way to $2500.
Miners will go nuts if we cross $2100.
Miners will go nuts if we cross $2100.
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