Gold and silver prices are down

I like to buy when things are unpopular and cheap. That was gold and silver coins from like 2016 to 2019, where I bought all I could afford. Right now physical gold and silver are expensive and popular and mining stocks are hated and dirt cheap.
So true. I haven’t bought gold since 2008. I found more silver 2 years ago. I am in and out of etfs for big gains. I will fill out my miner portfolio after Powell makes his move next week. It’s a gamble to trust he will go either way. The fiscal side? Not so much. We know what they will do irregardless of what happens.
 
@76Too
So you got rid of the carpet in your bathroom?
floor-out-of-pennies.jpg
 
I’d be shocked if the big banks and central banks allow gold to top $2000. That would look bad for the financial system.

Eventually the demand will be so strong it’ll overwhelm attempts to suppress it.

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I knew the equities would pull back on Monday hence why I sold during the high on Friday. The bank crisis kept central bankers busy to not pay attention to gold and that’s why it gripped higher towards the end of last week. Still, we made the weekly close above $1950 and the monthly close above $1970 will be next up.


And look at that. It’s almost comical.

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I knew the equities would pull back on Monday hence why I sold during the high on Friday. The bank crisis kept central bankers busy to not pay attention to gold and that’s why it gripped higher towards the end of last week. Still, we made the weekly close above $1950 and the monthly close above $1970 will be next up.


And look at that. It’s almost comical.

View attachment 733764

I predict they will throw trillions at the banks and the crisis will dissipate at least temporarily, bringing gold down below $1950.

But the Fed pivot is looking more and more imminent, so gold will be breaking out this year for sure.
 
There’s nothing left to worry about - everything was fixed

The Fed told banks, give me all your bad assets for a year and I’ll give you what you paid for them. You have to pay it back in a year, wink, wink.

Banks already gave the Fed $300 billion of those bad assets in just a few days.

Imagine if the Fed bought all your underwater stocks and gave you what you paid for them? Party time, right?

The toxic assets are still out there only now the Fed owns them.

This is actually bullish gold, but in the long term. In the short term it’s back to interest rate hikes and fear trade gone.
 
Posted this in two threads just because:

Gold hit new all time highs this week in British Pound, Japanese yen, Indian rupee and Australian and New Zealand dollar.

Does the world know something we don’t? Buy the Focking Dip, gold is a useless relic!
 
Posted this in two threads just because:

Gold hit new all time highs this week in British Pound, Japanese yen, Indian rupee and Australian and New Zealand dollar.

Does the world know something we don’t? Buy the Focking Dip, gold is a useless relic!

I think the US Dollar is the true useless relic... or soon will be...
 
Not a precious metal (yet), but I'm taking a small bite on uranium. Actually, a few Jan 2025 calls on UEC.
We'll see what happens...

I think uranium is going to pull back if the stock market ever corrects with recession fears. I'll add to my UUUU position or buy URNM if that happens. But prices are already good so worth a shot I think.
 
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