Gold and silver prices are down

[Win]

I recently bought a bunch of silver dimes and quarters because I think silver dollars will have too much purchasing power for a bunch of uses if we ever start using silver coins again

 

[HARRYM]

IMHO when silver pops, it will pop big.

Well, honestly with most of my predictions I'm never wrong but it's just a "timing" issue.....

 

[Individualist]

I recently bought a bunch of silver dimes and quarters because I think silver dollars will have too much purchasing power for a bunch of uses if we ever start using silver coins again

It’s good to have both gold and silver standard, well known coins in varying denominations.

 

[CrackPot]

Still feel the same way???

These gold prices mean we will see a stock market "correction" (crash) soon.

 

[richc]

OK, which one of you is responsible for this!!!

 

[tommyh]

OK, which one of you is responsible for this!!!

View attachment 959655

Buy the dip!!!

 

[Varmint]

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.

Yeah they actually banned silver futures margin buying, which forced the Hunt Brothers to sell. The House always wins.

 

[Varmint]

OK, which one of you is responsible for this!!!

View attachment 959655

Trump tariff announcement.

 

[Varmint]

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

Yeah and we don’t really want to see silver go nuts cause that usually happens toward the end of gold bull markets. I’m happy to see the slow grind upwards.

 

[Freddy Q]

Yeah they actually banned silver futures margin buying, which forced the Hunt Brothers to sell. The House always wins.

Well the Central Banks of several huge nations (The BRICS nations, Brazil, Russia, India, China & 6 more large economies) would have a LOT more buying power than a pair of brothers. Russia's Central Bank, for the first time ever, is going to be buying physical silver and adding it to their reserves. Other BRICS nations could soon follow Russia's lead.

I saw an estimate that if just 1% of global reserve assets shifted into silver, it would be the equivalent of 5 years worth of silver supply. Silver above $50/oz within the next two years would not shock me at all. Also, better buy your Maple Leafs and Libertads now, cause once those tariffs hit, forget about buying those anywhere NEAR spot!

https://www.numismaticnews.net/coin-market/russias-central-bank-to-acquire-silver-reserves

 

[richc]

 

[Varmint]

View attachment 959706

I guess this shows the housing prices gains are purely due to inflation. Doesn’t look good for Mav’s prediction of a housing crash.

 

[Varmint]

Well the Central Banks of several huge nations (The BRICS nations, Brazil, Russia, India, China & 6 more large economies) would have a LOT more buying power than a pair of brothers. Russia's Central Bank, for the first time ever, is going to be buying physical silver and adding it to their reserves. Other BRICS nations could soon follow Russia's lead.

I saw an estimate that if just 1% of global reserve assets shifted into silver, it would be the equivalent of 5 years worth of silver supply. Silver above $50/oz within the next two years would not shock me at all. Also, better buy your Maple Leafs and Libertads now, cause once those tariffs hit, forget about buying those anywhere NEAR spot!

https://www.numismaticnews.net/coin-market/russias-central-bank-to-acquire-silver-reserves

Russia might be buying silver as a strategic asset, since the value is too low to be used as a reserve asset. It’s ok cause we don’t need central banks to make silver explode, but we need general investors to buy gold first, they’re not doing that yet.

 

[richc]

Gold up $173/ounce in January, or 6.57%

Silver up $2.33/ounce in January, or 8.04%

It's a good start to 2025!

 

[ASHDUMP]

 

[Varmint]

View attachment 960220

the London Metals Exchange has been shipping massive amounts of gold to the Comex in anticipation of tariffs.

This will make retail gold and silver in the US very expensive but not sure what effect it’ll have on the spot or futures price.

Again the little guy gets the shaft from tariffs.

 

[ASHDUMP]

the London Metals Exchange has been shipping massive amounts of gold to the Comex in anticipation of tariffs.

This will make retail gold and silver in the US very expensive but not sure what effect it’ll have on the spot or futures price.

Again the little guy gets the shaft from tariffs.

Come on man, empty out your Amazon cart and reset the mind. Let's see how this tarriff stuff plays out! I'm only 42 and I can't remember in my lifetime tarriffs being an integral part of US receivables.

Let's give it a go!

 

[Varmint]

Come on man, empty out your Amazon cart and reset the mind. Let's see how this tarriff stuff plays out! I'm only 42 and I can't remember in my lifetime tarriffs being an integral part of US receivables.

Let's give it a go!

I’m hopeful but skeptical, put it that way.

 

[Varmint]

Gold up $10 and S&P500 down 120 points in premarket.

 

[steven grammont]

 

[Parker Schreiber]

Kiyosaki has correctly predicted 15 of the last 2 runups in silver prices. With bid-ask spreads of 10-15% depending on product, I'm holding on to the physical silver I have, but not currently buying.

 

[Win]

 

[Varmint]

So gold’s at a new all time high and silver very close to breaking out, and my miner portfolio is down on the day.

Everyone is too busy buying the falling tech knife.

Gold miner margins are at 100% and rising. NVidia is at 55%.

 

[Varmint]

Silver is over $33, which could attract momentum traders if we can close above $33 today.

 

[richc]

Having lived through the Hunt Brothers attempt to corner the silver market, I've waited in long lines at a coin dealer selling my silver.

A number of times in recent memory big PM dealers have sold at huge premiums. Their web pages showed delays in shipping. They offered decent premiums over spot to get more inventory to sell.

What that all means is, void of lines at dealers and shipping delays at online dealers, this is still not a retail/consumer based rally. I think that's a good thing, actually.

IMHO, based upon quite a bit of reading, the central banks of the world are still stockpiling. The BRICS nations have promised a currency for trade that competes with the dollar and is backed by gold. The US dollar is vulnerable with our huge deficits and national debts.

Consumers/retail buyer demand generally happens near the end of a bullish phase. It indicates capitulation by the consumer. And that's generally something that happens near a top.

Until that happens, I think we're still in for a ride up in prices. It clearly could have pullbacks. It won't be a straight line up. But my best guess is we'll see an uptrend for a while.

Live long and prosper!

 

[Varmint]

Gold is $2883, will we see $2900 overnight?

I’d like to see silver back above $33.

 

[DJBrad]

Gold is $2883, will we see $2900 overnight?

I’d like to see silver back above $33.

This is an exciting time to be in precious metals

 

[Varmint]

This is an exciting time to be in precious metals

I’d say annoying, hopefully it’ll turn exciting.

 

[DJBrad]

I’d say annoying, hopefully it’ll turn exciting.

I’m happy with the gains so far. For junior miners, yes, annoying.

 

[jct61765]

I guess this shows the housing prices gains are purely due to inflation. Doesn’t look good for Mav’s prediction of a housing crash.

2 more weeks.