And I'm glad I bought a bunch in 2015
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Gold and silver prices are down
- Thread starter Rider
- Start date
And I'm glad I bought a bunch in 2015
Thought the correction would last longer or go sideways for sometime so I’m missing out sitting in cash and not paper gold right now.
Varmint
NES Member
Didn’t foresee Biden trying start WWIII in his remaining time in office? You’re slipping.
Varmint
NES Member
I think when or if the Ukraine war subsides, which may take until inauguration, gold will test $2500. I still have cash to deploy, not buying the rally.
I do buy things that seem crazy cheap. Like ODV dropped to $1.43 this week and I bought it, they got their permit next day and the stock went up $0.45.
I bought some Signal Gold at $0.05. It’s going to get converted to NexGold at 8:1 which means it’s like buying NexGold at a 20% discount.
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Varmint
NES Member
Is this cause Trump's Treasury appointee if going to fix our deficit? Cause that's funny if so.
![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
steven grammont
NES Member
That's fine , I'd like to see it go back down to 25 an ounce , at that point I'll start buying more.
I just kept my PM positions going into the correction, but when it goes down like this, I can't help but dollar-cost average in to add a bit. Honestly, I wish I could invest in equities, instead, but I don't believe in their valuations right now, so it isn't really investing at these prices, just gambling on short-term gains.
richc
NES Member
richc
NES Member
Varmint
NES Member
Invest in miners, you get both equity and PM exposure.
Varmint
NES Member
Today was gold options expiration day. Banks don’t like to pay out options to gold bulls.
yogi
NES Member
Of course, and I do, but what I meant was that I'd like to buy equities that have nothing to do with PMs. I don't want my whole portfolio tethered to PMs.
Varmint
NES Member
We have a lot invested in the general stock market. It's hard to go against a trend that's been consistent for 15 years.
Varmint
NES Member
And gold and silver going back up the next day - looks like it was just banks manipulating the options market.
steven grammont
NES Member
I don't want to buy at 30+ an ounce
richc
NES Member
Hmmmmm……you might be sharing too much
Three friends were on 42nd Street in NYC decades ago. Guys I know from the software world. They were drunk and screwing around.
One of them was, ahem, a bit naive. One of them a former sailor who knew these streets well.
The naive fella wants a little action. So my sailor buddy tells him to go into a place he knows from his days in the Navy. Turns out it is a well know ladyboy location.
In this guy goes with a broad smile hoping to get some.
The two other guys are waiting outside busting a gut. And they wait.
Five or ten minutes later Mr. Naive comes running out at top speed yelling, "She's got a dick!!!!".
OMFG.
The rest of the story. Mr. Naive went to work for Microsoft soon thereafter. Because a top lieutenant to Bill Gates and is now an incredibly wealthy guy. He truly was a good guy and smart. But apparently he was not all that street smart.
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richc
NES Member
Trump has taken a hard line on the BRICS currency plans.
Your thinking on what this might do to the price of gold and silver?
My concern... many countries have been bidding up the price of gold, adding to their central bank stashes, in anticipation of a new currency from the BRICS nations that is 40% backed by gold. Does Trump put a crimp in their plans and reduce demand?
Please, no answers that "I feel". Just the facts and arguments...
"Trump wrote, “The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.” "
Your thinking on what this might do to the price of gold and silver?
My concern... many countries have been bidding up the price of gold, adding to their central bank stashes, in anticipation of a new currency from the BRICS nations that is 40% backed by gold. Does Trump put a crimp in their plans and reduce demand?
Please, no answers that "I feel". Just the facts and arguments...
"Trump wrote, “The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.” "
It’s hard to say if other BRICS nations will say, “How high sir?”.
I think we are on an indomitable path towards a fractured multi polar world. Things set in motion like new global players, new alliances, new trade deals, and newly found freedom from US dollar hegemony are things that nations will not want to give up.
The big question is will the American consumer continue to be the driver of some new form of globalization? I don’t believe so.
The downward trend of the US dollar is clear. Massive deficits, unfettered spending on legacy social programs, and a new mantra for America first with manufacturing and productivity brought back to US soil. There is no way the USD can thrive in this new regime. Other currencies look much more attractive to forex traders than the USD.
No company can survive on American soil with the high cost of labor and an expensive currency. Something has to give. These are long term factors.
On the price of gold and silver it didn’t matter who was elected in November. We are on a long path of a weakening USD. The price of gold and silver can only go up from here in USD. Some financial reset is really unavoidable at this point. No politician has the solution.
Varmint
NES Member
It’s funny cause our economy is all financial money manipulation and gets a lot of investment from foreigners. Threatening that isn’t bullish for our stock market.
Don’t worry about gold. The US fiat ship has already struck the iceberg. It doesn’t matter who is captain anymore, the ship is going down.
richc
NES Member
Should Trump put those 100% tariffs in place, and I do think it's more bluster than reality, then costs of everyday items in the US will explode. Inflation will come roaring back.
Is this a strong point of leverage that Trump can use agains foreign countries that have been raping and pillaging the US economy under the Buden administration? You bet.
Trade balances are way off. This is a way to get them back to more reasonable levels.
Is that actually why they have been buying gold? Sounds like a theory.
Let's hope the goal is to trade these things away for better deals. I don't assume it is a bluff as such, though, rather Trump setting the board in anticipation for negotiation. There is a difference. If they try to call his bluff, he will go through with it.
richc
NES Member
The value of any Trump bluff is his opponents know he's fully capable or doing what he says. That alone means he rarely needs to.
With Biden there was only bark, no bite.
“People use bitcoin as a speculative asset,” Powell told CNBC’s Andrew Ross Sorkin during the New York Times’ DealBook conference. “It’s just like gold only it’s virtual, it’s digital. People are not using it as a form of payment or as a store of value. It’s highly volatile. It’s not a competitor for the dollar, it’s really a competitor for gold.”
Varmint
NES Member
I knew you’d get a lol outta that statement.Yeah the dollar isn’t volatile, it doesn’t go up and down, only down.
Varmint
NES Member
Some gold miners are getting very cheap again, perhaps predicting a test of $2500 gold. Getting close to my stink bid prices.
With literally everyone predicting $2450 to $2500 gold, it probably won’t happen.
With literally everyone predicting $2450 to $2500 gold, it probably won’t happen.
yogi
NES Member
If the new floor is $2,500, I could live with that
Varmint
NES Member
I think there’s a trampoline around $2400-2450. We hit that and we bounce to $3000 or $3400. There’s no big selling or buying around $2600-2700 so we float around getting bored.
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