Gold and silver prices are down

NavelOfficer said:
Palladium looks interesting at historically low price levels.

Palladium Price Today | Price of Palladium Per Ounce | 24 Hour Spot Chart | KITCO

Live Palladium Charts and Palladium Spot Price from International Palladium Markets, Prices from New York, London, Hong Kong and Sydney provided by Kitco.
www.kitco.com www.kitco.com
Although it's all fiat currency, I've been diversifying currency at a small scale. Interestingly, the Thai Baht has appreciated about 13% against the USD since May 1st. Being in Thailand, the baht is my everyday currency.
Click to expand...

Are you permanently in Thailand? Retired? It's on my Need to Visit list.
 
Varmint said:
Are you permanently in Thailand? Retired? It's on my Need to Visit list.
Click to expand...
Somewhat permanently; I'm not totally visa'd up for permanent resident status, but am at a Non-immigrant Type O level currently. More to be done, but we have a condo rental along the Chao Phraya river for now. Most of my wife's family is in the greater Bangkok area.
Although you can find all manner of videos on Bangkok and Thailand, here's one from one American's perspective (not my video). It's not all peace, love and harmony, but it has its good and bad points.

View: https://www.youtube.com/watch?v=q0E3HjEtDhg
 

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A few more pics around Bangkok...
View downstream from Tower A Ivy-River condo.
Temple guard at Grand Palace.
View upstream from Tower A.
kingpowermahanakhon.co.th

SkyWalk - KING POWER MAHANAKHON

SkyWalk, Thailand’s highest observation deck at 314 meters offers 360 degree panoramic views from an indoor and outdoor viewing area,
kingpowermahanakhon.co.th

MahaNakhon - The Skyscraper Center

www.skyscrapercenter.com www.skyscrapercenter.com
 

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Gold fans may want to listen to this. Luke Gromen explains that gold is on a big run because of the world getting out of long term Treasuries and into gold, and that the trend will accelerate as the Fed does a form of yield curve control to manage the national debt.

castbox.fm

MacroVoices #448 Luke Gromen: Why the Gold Recycling Trade is Accelerating

<p>MacroVoices Erik Townsend & Patrick Ceresna welcome back, Luke Gromen. They’ll discuss the dollar, inflation, monetary policy, China, energy, preciou...
castbox.fm castbox.fm
 
Varmint said:
Gold fans may want to listen to this. Luke Gromen explains that gold is on a big run because of the world getting out of long term Treasuries and into gold, and that the trend will accelerate as the Fed does a form of yield curve control to manage the national debt.

castbox.fm

MacroVoices #448 Luke Gromen: Why the Gold Recycling Trade is Accelerating

<p>MacroVoices Erik Townsend & Patrick Ceresna welcome back, Luke Gromen. They’ll discuss the dollar, inflation, monetary policy, China, energy, preciou...
castbox.fm castbox.fm
Click to expand...
This was a great podcast. Very important for all here to listen to it.
 
DJBrad said:
This was a great podcast. Very important for all here to listen to it.
Click to expand...

They won’t though. just the nuts in this thread. Educating yourself on markets is probably the most important thing people need to do, although mindlessly buy and forget has worked the best. But if that stops working people won’t know what to do.
 
They say don’t watch the markets all the time, but I check gold every night and it’s always the same pattern. Around 2-4 am someone dumps a bunch of futures contracts on the market at the worst time to sell, but the best time if your goal is not to make money but to suppress the price.

And then an hour later gold rebounds. I’m sure the sellers are JP Morgan and other bullion banks since they’re the only ones who will lose money to drive down gold.

Not sure who the buyers are who always step in.

IMG_7693.jpeg
 
multiple commentators are saying the BRICS will announce or at least discuss a new trading currency called the Unit that’s 40% backed by gold and the rest BRICS currencies.

Don’t know if this explains why gold keeps going up when it should correct.

The BRICS summit is Oct 22.
www.jpost.com

BRICS is considering a new currency. Here’s what you need to know

Precious metals investors will pay close attention to the upcoming 16th rendition of the annual BRICS summit scheduled for Oct. 22-24 in Kazan, Russia.
www.jpost.com www.jpost.com
 
Varmint said:
multiple commentators are saying the BRICS will announce or at least discuss a new trading currency called the Unit that’s 40% backed by gold and the rest BRICS currencies.

Don’t know if this explains why gold keeps going up when it should correct.

The BRICS summit is Oct 22.
www.jpost.com

BRICS is considering a new currency. Here’s what you need to know

Precious metals investors will pay close attention to the upcoming 16th rendition of the annual BRICS summit scheduled for Oct. 22-24 in Kazan, Russia.
www.jpost.com www.jpost.com
Click to expand...

The US debt has diminished its value in the world. Countries no longer feel safe holding dollars. It’s an asset that has and likely will continue to lose value.

China, Russia and others have never liked being forced to trade in dollars. And now the US has opened the door to an alternate through crappy monetary and fiscal policies.

That giant flushing sound you hear is the US dollar going down the drain to a powerful of competitors who would like nothing better than to kick the US and our currency to the curb
 
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richc said:
The US debt has diminished its value in the world. Countries no longer feel safe holding dollars. It’s an asset that has and likely will continue to lose value.

China, Russia and others have never liked being forced to trade in dollars. And now the US has opened the door to an alternate through crappy monetary and fiscal policies.

That giant flushing sound you hear is the US dollar going down the drain to a powerful of competitors who would like nothing better than to kick the US and our currency to the curb
Click to expand...

The dollar hasn’t lost value relative to other currencies, that’s why DXY doesn’t go down. I think the BRICS action is due to the US response to the Ukraine invasion, not due to the debt. The US showed the dollar is only useful as a reserve asset if the US likes you. So 2/3rds of the world is trying to get off the dollar.
 
Just a bit of info that I have become aware of being in Thailand: Thai gold is generally .965 fine and a standard weight is 1 Baht, which is 15.244 grams. A Salung is 1/4 Baht or 3.81 grams. Baht is also their currency (currently about 33 Baht to the USD). Not that this has anything to do with your metals purchases.
From an article I came across:
"Baht is a unit of weight measurement for Gold in Thailand where 1 Baht is equal
to 15.244 grams in raw bullion form or 15.16 grams when it sold as jewelry. Thai
Gold is also measured in "Salung" which is a smaller unit than Baht, where 1 salung is
a quarter baht (0.25 baht) or 3.81 grams. A purity of 96.5 percent means in 1 Baht of
Gold 96.5 percent of it is pure gold while the rest is made of metals such as silver.
Hence, in 1 Baht Gold there is normally 14.71 grams of pure gold which is a little less
than half a troy ounce (0.473 ozt)."
 
This is idle speculation. IMHO we're getting closer and closer to Israel's attack on Iran. Many don't want to let the weekend go by without owning PM's.

People/institutions are loading up in case. If nothing happens over the weekend, look for a bit of a sell of on Monday.
 

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