Gold and silver prices are down

Never would have guessed:

State Street discovered a surprising market trend: gold investors are getting younger. According to the study, Millennials have the highest percentage of gold in their investment portfolio at around 17%. Both Generation X and Baby Boomers hold about 10% of their portfolio in gold.
 
Varmint said:
Never would have guessed:

State Street discovered a surprising market trend: gold investors are getting younger. According to the study, Millennials have the highest percentage of gold in their investment portfolio at around 17%. Both Generation X and Baby Boomers hold about 10% of their portfolio in gold.
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I wonder if this is paper and not physical gold/silver. I don't think anyone knows how much physical gold/ silver I own
 
Varmint said:
He said so many incorrect things I wouldn’t listen to him. He’s right in that governments love fiat and would not willingly choose gold. They might be forced to back a future currency with gold if the people lose all faith in fiat currency, like after it collapses.

China and Russia might be starting a gold backed currency for trade, only cause the dollar is being used as a political weapon.

His point there’s not enough gold to back all the fiat is retarded. That’s the whole point, gold would have to be revalued much higher cause fiat is so worthless.
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Agree
 
kiver said:
I wonder if this is paper and not physical gold/silver. I don't think anyone knows how much physical gold/ silver I own
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I think it was a poll of PM investors, not the general public. No way general investors are at 10% gold. They say institutions are at 0.5% gold and silver in their portfolios.
 
Varmint said:
It’s weird, why would so many sites show December futures now? At least it’s labeled properly now.
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It was the rollover of the August contract to the front month futures for December. The $40 move in that futures price is based on costlier interest on that contract. October is ignored. This was solely for futures traders but it confused many including myself. It was explained very clearly with the Lanci interview on the Daily Gold.
 
DJBrad said:
It was the rollover of the August contract to the front month futures for December. The $40 move in that futures price is based on costlier interest on that contract. October is ignored. This was solely for futures traders but it confused many including myself. It was explained very clearly with the Lanci interview on the Daily Gold.
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I’ve never seen these sites show a futures price from 3 months ahead. They’d usually show the Sept contract price.
 
Just heard the US mint is going to double production of ASEs. Prices seem to have crashed to as low as $4 over spot. 😮

www.ebay.com

Roll of 20 - 2023 1 oz Silver American Eagle $1 Coin BU (Lot, Tube of 20) | eBay

Find many great new & used options and get the best deals for Roll of 20 - 2023 1 oz Silver American Eagle $1 Coin BU (Lot, Tube of 20) at the best online prices at eBay! Free shipping for many products!
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The roll I ordered from Bullion Exchanges arrived today.
Any of you break the mint seal on the tube? In the end I don't think it makes a difference to the coins value, just curious what others think.
 
tommyh said:
The roll I ordered from Bullion Exchanges arrived today.
Any of you break the mint seal on the tube? In the end I don't think it makes a difference to the coins value, just curious what others think.
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I only own physical metal in case of emergency, not as a "buy low sell high" thing, so I neither know nor particularly care whether it matters. I've never sold a coin and pretty much hope I never will. But since you asked, several months ago I bought three rolls of philharmonics from BE. I had to break the seal on one of them because these are the first philharmonics I've ever bought. I don't regret that, but there they sit, in the closed tube.
 
HappyHarry said:
I thought some on this forum might be interested in this article. Although I deal in gold and silver, I don't personally invest in precious metals, so I'm putting this link here just for discussion, not recommendation.

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This story shows up almost every year - Comex wont' be able to come up with the physical silver if everyone stands for delivery. Wall St Bets even tried to force a run on silver this way, they got silver up to $30 if I remember?

But it never pans out - could it happen some day? Sure, but don't adjust your investing based on it.
 
Great explanation of why gold hasn’t taken off. I’m the past a bear market in the stock market triggered big runs in gold.

Although we may already be in a bear market for stocks, the market doesn’t know it yet.

65545BE8-5CE4-4A6F-8850-9D61655A993B.jpeg
 
Varmint said:
Great explanation of why gold hasn’t taken off. I’m the past a bear market in the stock market triggered big runs in gold.

Although we may already be in a bear market for stocks, the market doesn’t know it yet.

View attachment 784745
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Principal question in my mind is when I should move money in my trading accounts back into PMs and mining. I think current prices will seem low in hindsight in several months, but there could be a nice dip when the stock market falls. Anything that makes PMs attractive during the stock market correction could attenuate the dip this time around, so when to move….
 
meh said:
Principal question in my mind is when I should move money in my trading accounts back into PMs and mining. I think current prices will seem low in hindsight in several months, but there could be a nice dip when the stock market falls. Anything that makes PMs attractive during the stock market correction could attenuate the dip this time around, so when to move….
Click to expand...

Have to separate those things:

Gold isn’t that low, it’s just 8% off it’s all time high. So gold would likely sell off initially in a market crash (which is not a given since it’s so bullish now).

Major gold producers (anyone making a profit selling gold) aren’t that cheap either, and are well off their bottoms. They could certainly go retest their lows.

Junior gold miners are at rock bottom, and won’t likely go much lower since nobody owns them. You could safely buy those now.
 
HappyHarry said:
I thought some on this forum might be interested in this article. Although I deal in gold and silver, I don't personally invest in precious metals, so I'm putting this link here just for discussion, not recommendation.

Click to expand...

Leverage is very, very good when it works in your favor. And very, very bad when it moves against you.

Clearly having far more contracts for silver than physical silver is a glaring opportunity for someone to manipulate the market.

Even a sudden, large move in the price of silver would crush those selling naked silver purchase contracts.

Massive leveraged positions almost always end in big pain for someone.
 
Varmint said:
This story shows up almost every year - Comex wont' be able to come up with the physical silver if everyone stands for delivery. Wall St Bets even tried to force a run on silver this way, they got silver up to $30 if I remember?

But it never pans out - could it happen some day? Sure, but don't adjust your investing based on it.
Click to expand...

It will happen when there is massive public demand for silver. Some sort of political upheaval, war, bank failures, whatever. That's something that the market manipulators can't stop.
 
richc said:
Leverage is very, very good when it works in your favor. And very, very bad when it moves against you.

Clearly having far more contracts for silver than physical silver is a glaring opportunity for someone to manipulate the market.

Even a sudden, large move in the price of silver would crush those selling naked silver purchase contracts.

Massive leveraged positions almost always end in big pain for someone.
Click to expand...

It’s difficult to move the price of silver cause the Comex can create unlimited paper contracts without increasing the price to meet any demand for silver. Someone could ask for physical but they would need to pay to store it. To overcome the Comex’s supply of physical silver would take a lot of buying over several months, and no one seems to want to do that.

I think it won’t happen til gold breaks out above $2100 and then silver will break $30 and attract a lot of buying. The trip from $30 to $50 might be very quick.
 
richc said:
It will happen when there is massive public demand for silver. Some sort of political upheaval, war, bank failures, whatever. That's something that the market manipulators can't stop.
Click to expand...

The public wants retail (1, 10 oz) bars and coins. That’s only 20% of the silver market, so retail demand isn’t enough to move the silver price much. All that happens is the premiums go up so high it kills demand, without moving the spot price.
 
Curious what you guys think, as people seem pretty split about this.

Junk/Constitutional/90% silver. Common dates, heavily circulated, NO numismatic value coins. OK to clean? (Non-destructively, with baking soda bath or non abrasive silver cleaning cloth, etc) Or not.
 
Freddy Q said:
Curious what you guys think, as people seem pretty split about this.

Junk/Constitutional/90% silver. Common dates, heavily circulated, NO numismatic value coins. OK to clean? (Non-destructively, with baking soda bath or non abrasive silver cleaning cloth, etc) Or not.
Click to expand...

Maybe people say no cause clean junk silver doesn’t look real? No idea. I don’t bother but I’m lazy.
 

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