Gold and silver prices are down

What's interesting about this breakout is that it's not driven by FOMO retail sales. Dealers are reporting there are more sellers than buyers. This is Central Banks, Governments and perhaps institutional activity. They know something we don't and appear to be preparing. If thats the case then this price at 2345 should still be considered low and we should be buying
 
So on Weds the FRB denied a FOIA request for NYFB gold custodial holdings before and after the freeze on Russian gold and treasuries. 😂 This was after Rep. Alex Mooney of WVa asked Powell about US gold holdings back in a December letter

“Board staff consulted with staff at the Federal Reserve Bank of New York (‘Reserve Bank’) and have been advised that such records, if they exist, would be Reserve Bank records, and consequently, not subject to the Board’s Rules Regarding Availability of Information,” the Fed said.

The Federal Reserve said that this publication could take its request to the New York Fed. However, that institution isn’t subject to FOIA.


According to Stefan Gleason, CEO of Money Metals Exchange, a large online precious metals dealer and depository based in Idaho, "The Fed doesn't want anyone to know that foreign governments and other central banks are yanking their gold from America's shores because it would reveal the folly of U.S. monetary and foreign policy."


“They’re just passing the buck to the New York Fed. The FRB could obtain the data from the New York Fed if it wanted to, and then could share it with you if it wanted to. The Fed chairman has already essentially told Representative Mooney that the Fed doesn’t want to disclose the information,” said Chris Powell, secretary-treasurer of the Gold Anti-Trust Action Committee.
 
Back in 1980 silver hit $50/ounce. So I got to wondering what that would equate to in today's inflated dollars?

Screenshot 2024-04-06 at 4.59.59 PM.png

For the record in 1980 the Hunt Brothers tried to corner the silver market. There were certainly unusual forces at work. But even half of that would be awesome!

So what about gold?

At the same time silver as hitting all time highs, gold went along for the ride hitting $900 an ounce. So what would that be in today's dollars?



Screenshot 2024-04-06 at 5.04.35 PM.png
 
Now I can see some of you arguing that I took the high end of pricing for those metals in 1980. Fair argument, actually. So I went looking for lows to make a comparison.

In 1999 silver traded as low as about $5.00/ounce. In today's dollars that would be...

Screenshot 2024-04-06 at 5.12.16 PM.png

So in 1999 gold hit a low of about $260/ounce. So what would that cost today in inflation adjusted dollars?

Screenshot 2024-04-06 at 5.07.59 PM.png

All I can say about the giant disparity in these numbers is... I have no idea what it means. And it appears the starting point for one's analysis has a huge impact on the results you see...

:-)
 
In the early '70's' the billionaire Hunt Brothers by correctly, forecasting looming inflation caused by the Vietnam War and 'The Great Society' spending. They began leveraging massive silver contracts, eventually, 'owning' about 1/3 of the World's silver. But like all mortals the Hunt brothers silver was actually revealed to be pot metal, by 1980 they were bankrupt. Silver Thursday - Wikipedia

With the BRIC Nations accumulating golden and silver reserves, "past performance doesn't guarantee future results".
1712506331672.png
 
Guess they are out. Tried to add it to my cart, but tells me after there is nothing in my cart.
 

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chris_1001 said:
Guess they are out. Tried to add it to my cart, but tells me after there is nothing in my cart.
Click to expand...
I get that from Safari on my phone. Worked for me using the desktop web interface, though. Added then selected payment method. Had me ready to check out. I didn't complete the purchase because I'm not in the market for more physical silver at present.
 
If you like losing while the sp500 goes up and gold goes up. Buy silver. All I ever do is lose on silver. I tell everyone I know. Anything but silver.

Pretty sure silver has lost to inflation. I'd make more profit putting my cash in a money market the last few years
 
Berrymac65 said:
If you like losing while the sp500 goes up and gold goes up. Buy silver. All I ever do is lose on silver. I tell everyone I know. Anything but silver.

Pretty sure silver has lost to inflation. I'd make more profit putting my cash in a money market the last few years
Click to expand...
My guy, if you’re that down on them I’ll buy all the silver eagles you have at $30/ea. Boston Bullion currently has them at $31.43.

Otherwise, learn patience and stop bitching.
 
richc said:
Back in 1980 silver hit $50/ounce. So I got to wondering what that would equate to in today's inflated dollars?

View attachment 869981

For the record in 1980 the Hunt Brothers tried to corner the silver market. There were certainly unusual forces at work. But even half of that would be awesome!

So what about gold?

At the same time silver as hitting all time highs, gold went along for the ride hitting $900 an ounce. So what would that be in today's dollars?



View attachment 869982
Click to expand...

Well I’ll be disappointed if this bull market only gets us to $3400 and $188.
 
Berrymac65 said:
If you like losing while the sp500 goes up and gold goes up. Buy silver. All I ever do is lose on silver. I tell everyone I know. Anything but silver.

Pretty sure silver has lost to inflation. I'd make more profit putting my cash in a money market the last few years
Click to expand...

I've been dollar cost averaging collectible coins and bars for awhile and yes, gold has been a better return, but diversification is good, and I think an argument could be made silver would be easier to sell because of the lesser cash needed by buyer.
 

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