Gold and silver prices are down

[richc]

You can't have a recession when the government is running $2-3 trillion deficits.

But the hangover one gets when the party is over will be legendary!

 

[Varmint]

I hope it's not the usual boring day for gold, a few bucks from its all time high.

Boring day, as expected.

 

[Varmint]

Overnight everything sold off but now gold and silver are recovering while tech stocks and the S&P continue going down.

 

[Win]

I feel confident that we'll hit $2,800 this week which makes me think that we won't

 

[Varmint]

Discovery Silver is up 18% today on news they bought a $400 million silver mine from Newmont. That’s kind of surprising and maybe a sign the junior miner sentiment is improving.

 

[meh]

Sold all my mining stocks (3 of them) and bought MSTR. My only stock that was performing was ORLA Mining. Made $34!

I bought one share of MSTR just to watch the show. I knew who Michael Saylor was, but I didn't know he'd turned MSTR into a proxy for bitcoin. Not a bad idea, I guess, especially if you're going sideways or down otherwise.

 

[Varmint]

I bought one share of MSTR just to watch the show. I knew who Michael Saylor was, but I didn't know he'd turned MSTR into a proxy for bitcoin. Not a bad idea, I guess, especially if you're going sideways or down otherwise.

So MSTR is basically like a GLD, they issue shares and buy Bitcoin with the proceeds? Except they choose when to buy, not just immediately when people buy the shares?

 

[meh]

So MSTR is basically like a GLD, they issue shares and buy Bitcoin with the proceeds? Except they choose when to buy, not just immediately when people buy the shares?

I don't know their operational details, but pretty much. The market cap is like $86B right now, and their bitcoins are worth $48B. When you buy-and-hold their stock, you're betting on bitcoin, not on the tech business that's buried under that pile of bitcoins.

 

[DJBrad]

It’s happening…..

 

[Win]

Time for me to panic buy before any dips occur

 

[Varmint]

Time for me to panic buy before any dips occur

Don’t jinx us please!

 

[Varmint]

View attachment 959115View attachment 959116It’s happening…..

 

[richc]

 

[DJBrad]

Ruh roh the LBMA and bullion banks are in deep doodoo.

London’s bullion market is under pressure as traders rush to borrow gold from central banks following a surge in shipments to the U.S., two sources told Reuters. The Bank of England, a key storage hub for central bank gold, now has a four-week wait time for releases—far longer than the usual few days. The BoE declined to comment.

The wait time to withdraw gold from the Bank of England has stretched from a few days to four to eight weeks as demand overwhelms the central bank’s capacity. “People can’t get their hands on gold because so much has been shipped to New York, and the rest is stuck in the queue,” said one industry executive.

NEWS: RTRS Reports LBMA Scramble for Gold is Real

London Gold Market Borrows Central Bank Gold After U.S. Shipments

vblgoldfix.substack.com

 

[yogi]

 

[richc]

View attachment 959283

But... but... but... can I sell at those prices???

 

[richc]

The last times bought in bulk gold was $300 and silver was $5. I can't seem to make myself do anything but sell at these prices...


Sent from my iPad using Tapatalk HD

Still feel the same way???

 

[yogi]

But... but... but... can I sell at those prices???

Yes to me!

 

[Reptile]

Something Extraordinary Is Taking Place In The Gold Vaults Below Manhattan​

While every central bank has been rushing to buy gold, nobody has been as aggressive as China.

There was an interesting article overnight in the otherwise conservative and establishmentarian Financial Times, perhaps best known over the past decade for religiously keeping its readers out of the best performing asset class of all time (bitcoin in particular, and crypto in general which have been relentlessly and constantly bashed with fanatical obsession by all of its now former FT Alphaville writers whose track record of picking trades leaves Jim Cramer in the dust).

https://www.infowars.com/posts/something-extraordinary-is-taking-place-in-the-gold-vaults-below-manhattan

 

[Varmint]

Ruh roh the LBMA and bullion banks are in deep doodoo.

NEWS: RTRS Reports LBMA Scramble for Gold is Real

London Gold Market Borrows Central Bank Gold After U.S. Shipments

vblgoldfix.substack.com

The banks: “no comment.”

 

[Varmint]

We need one more big up day and junior miners will probably join the party.

 

[richc]

A solid move above $2800. Up $180/ounce YTD.

 

[HARRYM]

I feel confident that we'll hit $2,800 this week which makes me think that we won't

Ask me about my Silver predictions!

 

[richc]

Ask me about my Silver predictions!

What's your thinking, sensei?

 

[HARRYM]

What's your thinking, sensei?

LOL, my previous prediction of Silver hitting $50 per OZ.......2 years ago!

 

[richc]

LOL, my previous prediction of Silver hitting $50 per OZ.......2 years ago!

IMHO when silver pops, it will pop big.

 

[Varmint]

LOL, my previous prediction of Silver hitting $50 per OZ.......2 years ago!

What’s the previous $50 high in today’s dollars, like $200? We’ve got some room to move.

 

[richc]

What’s the previous $50 high in today’s dollars, like $200? We’ve got some room to move.

That $50 high is somewhat artificial. It's when the Hunt Brothers tried to corner the silver market, and subsequently the investment firm giants squashed them with huge short positions.

I'd be thrilled with Harry's price. And I do believe that prices between $50-$75/ounce are possible in the next few years.

 

[GM-GUY]

I'm liking my PM's - not liking what it means, but I say lets get on with it so I'm still young (mid 50's) and able to enjoy it.

 

[Individualist]

What’s the previous $50 high in today’s dollars, like $200? We’ve got some room to move.

Exactly. Where gold can reasonably double in the next couple years, to keep pace silver can potentially triple but is harder to forecast.