@mav are you still renting? What’s the housing sitrep?
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Gold and silver prices are down
- Thread starter Rider
- Start date
Varmint
NES Member
Zillow says our house is down like 5% from the peak.
I don’t rent. I own a home in MA and am currently waiting to buy a home down south, likely in Tennessee.
Varmint
NES Member
Gold touched $2900 overnight. 
Is that what that was? I thought my wife rolled over and touched me.Gold touched $2900 overnight.
Trafficdiver
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I'm not saying this is definitly happening. But it sure looks it.
Varmint
NES Member
Varmint
NES Member
Thank you whoever steps in a 3 am to stop the futures dumps of gold and silver. Another overnight attempt at 2-3 am weathered.
Individualist
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Varmint
NES Member
Surgical strike by bullion banks, repulsed by our mystery buyers? Which could be just hedge funds.
richc
NES Member
I heard a wall street type, who is not a "gold bug", say that the 20 year gold chart is one of the prettiest in all of wall street.
FYI the 20 year CAGR (compound annual growth rate) is about 10.1%.
FYI the 20 year CAGR (compound annual growth rate) is about 10.1%.
Individualist
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What I’ve been watching… The doubling of roughly 1000-2000 can suggest from after the handle breakout another doubling of 2000-4000.
Now look at silver’s long-term chart. See any similarity, albeit on a longer scale? Once we break the handle around 50 then what’s not to say the 10-bagger from 5-50 presents a path for 15 to 150?
Now look at silver’s long-term chart. See any similarity, albeit on a longer scale? Once we break the handle around 50 then what’s not to say the 10-bagger from 5-50 presents a path for 15 to 150?
Varmint
NES Member
Beautiful cup and handle breakout, which points to like $3400 or something, hopefully this year.
If $3000 crests and holds above, maybe, just maybe we will finally see the leverage plays of miners add streams of joy to our boredom.
Varmint
NES Member
I have two silver junior miner 3-baggers in the last year, Skeena Resources and Discovery Silver. If silver follows that chart, silver miner 10-baggers will be a dime a dozen.
Silver is tough though, cause central banks don’t buy it and it’s small enough that the bullion banks can easily manipulate it. We might get some action if it gets above $35.
Varmint
NES Member
Yeah maybe, but I’m ok with the slow move up, makes it more sustainable. Don’t want a repeat of 2016 and 2020. I’ll be selling on the way up regardless.
Trafficdiver
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I just inspected a 1 oz gold Krugerrand and I am sad to say that the $2900 version is no different from the $1800 version produced 2 years ago.
Varmint
NES Member
I have a couple $1500 versions, I’ll buy a new one to check.
Varmint
NES Member
It’s weird to think my gold and silver coins have mostly doubled, but I don’t get excited about that like I would a stock.
It’s cause I’ve no plan to sell unless forced to like I need to smuggle my kids out of the country.
But I’m glad I bought what I did when they were cheaper.
It’s cause I’ve no plan to sell unless forced to like I need to smuggle my kids out of the country.
But I’m glad I bought what I did when they were cheaper.
Varmint
NES Member
Banks are struggling to keep gold under $2900, now $2903. Silver battling over $33.
Trafficdiver
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There is just nothing they can do about gold. It's far too big of a market to control with paper.
Silver, OTOH, is small enough that they can tamp the price by flooding the market with paper derivatives.
Until they can't, then they have to climb out of the hole they dug. That could be soon.
It’s a beautiful thing to see
Meh 
Varmint
NES Member
In its annual and fourth-quarter Gold Demand Trends report, published Wednesday, the World Gold Council said that central banks bought more than 1,000 tonnes of gold in 2024 for the third year in a row. This accounted for roughly 20% of total demand last year.
Varmint
NES Member
Meh
I don't think any trader wants to be long anything before the weekend. Trump might decide we're annexing the Belgian Congo this weekend, or drop more tariffs on the world.
I think the miner and gold rally will resume next week.
Anyone seeing that a mine in China may have hit a 1000 tons or more of gold.
dailygalaxy.com
Geologists Uncover One of the Largest Gold Reserve Ever, Worth 78 Billion Euros
A hidden deposit, long buried beneath the earth, has just been uncovered, revealing an astonishing amount of gold. Experts are still piecing together the full scale of this discovery, but early estimates suggest its value is beyond expectation. The implications for the industry are only...
dailygalaxy.com
