Gold and silver prices are down

Varmint said:
Or maybe stocks and gold and going up together for the same reason - as safe havens from government debt.
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Quite possibly. I guess I’d be ok with either scenario but our junior miners would probably underperform if the latter case if evident.
 
DJBrad said:
Quite possibly. I guess I’d be ok with either scenario but our junior miners would probably underperform if the latter case if evident.
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Yeah, not sure, we're in uncharted territory. I'm just not in the camp that the stock market needs to take a dump for miners to do well. They said the same thing about gold, that it wouldn't break out with stocks so strong, but it did just that.
 
Varmint said:
Yeah, not sure, we're in uncharted territory. I'm just not in the camp that the stock market needs to take a dump for miners to do well. They said the same thing about gold, that it wouldn't break out with stocks so strong, but it did just that.
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Nothing seems to be even close to sure. I would be a bit concerned if stocks, gold, and everything else just keep going up. While I don’t see evidence of any bad news yet the zeitgeist is ripe for a marked change. Governments failing causing a flee to all these safe havens would keep my head on a continuous swivel.
 
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richc said:
Check out this offer. Free returns for 30 days?

Generally gold/silver sales are no returns... and for good reason.

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US Gold $20 Saint-Gaudens Double Eagle - NGC MS64 - Random Date and Label | eBay

Certified NGC MS64. The coin(s) you receive may be all one holder type or a mix. The reverse design features a bald eagle in flight. The sun appears below with its rays extending upwards into the fields.
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Click to expand...

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Bought Erdine Resources, a junior gold miner with deposit in Mongolia.

Junior miners aren’t down much, though they’d probably go down a lot more if gold loses $2300. But right now the higher highs and higher lows trend in gold is intact.

Silver is beyond hope, probably need a gold frenzy to get silver to make its big move.
 
Varmint said:
Bought Erdine Resources, a junior gold miner with deposit in Mongolia.

Junior miners aren’t down much, though they’d probably go down a lot more if gold loses $2300. But right now the higher highs and higher lows trend in gold is intact.

Silver is beyond hope, probably need a gold frenzy to get silver to make its big move.
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I got into Erdine too a few weeks ago. That mine will be built soon.
 
steven grammont said:
I really don't know a damn thing about this stuff besides that I like to buy some silver when I think the price is right. I'm happy to see it still sitting over 30 an ounce , but in the same breath I don't like it because I will not buy it while it sits at that number.
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I'm the same as you, it feels like two days ago I was buying rolls of '64 JFK halves based on a spot price of like $20/oz so $30/oz feels crazy to me.

However if in two years, silver is at $50/oz, we're probably both gonna wish we had bought a lot more silver back when it was "only" $30/oz
 
Went to the bay state coin show yesterday. Spur of the moment decision after my wife took my son and his friend to water country - I was free. I brought a few coins that I've fallen out of love with. Nice coins, just no longer for me. I walked the floor looking for treasure - my first choice is always treasure. After two laps I didn't see anything that I needed to add to my treasure chest. I turned my attention to some older, poured and tarnished silver bars that I like. I'm short silver anyway - have almost all gold and little silver. I ended up trading a few raw gold coins for some nicer old silver bars. I was able to get 84:1 silver for gold even with the more collectable silver bars. Very fair IMHO even with silver falling out of favor recently. Had positive experiences with a dealer named Walker from Waltham. He's a part time dealer, show's only, with a full time job in IT security. Walker had a nice selection of modern and vintage silver bars among other items. Had another enjoyable Stephen Vorchheimer from CT. Steve had a nice selection of silver bars as well.

I'm planning on going to Nashua in Aug. Maybe I'll try to be a regular at the shows. I really enjoyed it.
 
Win said:
Went to the bay state coin show yesterday. Spur of the moment decision after my wife took my son and his friend to water country - I was free. I brought a few coins that I've fallen out of love with. Nice coins, just no longer for me. I walked the floor looking for treasure - my first choice is always treasure. After two laps I didn't see anything that I needed to add to my treasure chest. I turned my attention to some older, poured and tarnished silver bars that I like. I'm short silver anyway - have almost all gold and little silver. I ended up trading a few raw gold coins for some nicer old silver bars. I was able to get 84:1 silver for gold even with the more collectable silver bars. Very fair IMHO even with silver falling out of favor recently. Had positive experiences with a dealer named Walker from Waltham. He's a part time dealer, show's only, with a full time job in IT security. Walker had a nice selection of modern and vintage silver bars among other items. Had another enjoyable Stephen Vorchheimer from CT. Steve had a nice selection of silver bars as well.

I'm planning on going to Nashua in Aug. Maybe I'll try to be a regular at the shows. I really enjoyed it.
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I bought some silver from Walker Friday night. My buddy did a large trade with him as well. Nice guy.
 
Varmint said:
Nice recovery today by silver and the miners.
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Pretty weak for my holdings. Thoughts on Integra Resources buying Florida Canyon Gold? Both sold off heavily on the deal but that seems to be the case with all these mergers and acquisitions lately.
 
DJBrad said:
Pretty weak for my holdings. Thoughts on Integra Resources buying Florida Canyon Gold? Both sold off heavily on the deal but that seems to be the case with all these mergers and acquisitions lately.
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At quick glance I think it makes good sense, since they are close together physically and they should be able to cut some overlapping costs. I wouldn’t worry about the sell off, that’s typical of juniors these days.
 
DJBrad said:
Pretty weak for my holdings. Thoughts on Integra Resources buying Florida Canyon Gold? Both sold off heavily on the deal but that seems to be the case with all these mergers and acquisitions lately.
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What I mean is silver went to $27.5 and could have kept going but recovered to finish above $28.

GDXJ also moved up $1 after touching $43.5.

If Powell announces rate cuts (unlikely) or at least strongly implies Sept rate cuts this Weds, the correction will probably be over.
 
Varmint said:
What I mean is silver went to $27.5 and could have kept going but recovered to finish above $28.

GDXJ also moved up $1 after touching $43.5.

If Powell announces rate cuts (unlikely) or at least strongly implies Sept rate cuts this Weds, the correction will probably be over.
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Yeah, I’m hearing 50 pts in the September meeting and every meeting after.
 
Varmint said:
They must be seeing something scary in the banks or credit markets if that’s the plan.
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Banks almost guaranteed. Credit markets would obviously follow lockstep. There have been some huge capital movements this last week or so due to the yen trade. We also know if rates are being cut that big money will move from short dated bills into forex or other higher yielding instruments.
 

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