Gold and silver prices are down

[Varmint]

I had just bought my first house. Patio sets, furniture, weber grills, gold, silver, housewares. The good times of globalization.

Microsoft lost so much money on that, I don’t think anyone uses Bing.

 

[richc]

@Varmint, come on man, what did we ever do to you???

 

[Individualist]

Microsoft lost so much money on that, I don’t think anyone uses Bing.

Went the way of Alta Vista

 

[Varmint]

Hmm, would you accept $2850?

@richc - promised and delivered. Don't expect any more.

 

[richc]

@richc - promised and delivered. Don't expect any more.

View attachment 969340

Dead to me...

 

[Varmint]

Dead to me...

Miners finished in the green, so this gold selloff could be over. Not the fire sale some were hoping for.

Crazy turnaround in the S&P500 today, Buy the Dip seems to be alive and well.

 

[Trafficdiver]

What's better than buying a kilo of silver on the dip?

Buying twins!

 

[Freddy Q]

Well it aint a KG but... $9/a piece on "gem" 64 Kennedy halves is a steal. Add in the "America the Beautiful 5oz Bullion" coin (Great Smoky Mountain) and two RFK silver dollars, and it wasn't a bad "buy the dip" day for me either.

 

[Freddy Q]

 

[Varmint]

View attachment 969969

Wow those look great! Makes me regret only buying junk silver.

 

[Trafficdiver]

Wow those look great! Makes me regret only buying junk silver.

I may check out the occasional Coinstar return to see if any pre-1965 dimes have been left.

 

[Individualist]

Interesting article and speculation from Kitco

Bulls are now outnumbered on Wall Street and Main Street as near-term doubt saps gold’s momentum.

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

 

[Varmint]

Interesting article and speculation from Kitco

Bulls are now outnumbered on Wall Street and Main Street as near-term doubt saps gold’s momentum.

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

Lot of differing opinions in there which is good. I’m not really worried about Wall St not being bullish gold, cause they’ve missed the entire move already by being bearish gold.

I think gold is likely to sell off if we get a stock market sell off, or any liquidity crunch, it’s probably the first thing traders or institutions will sell. I’d kind of like to see that sell off before we cross $3000. I don’t want to go to $3400 and then back to $2600.

 

[Trafficdiver]

Interesting article and speculation from Kitco

Bulls are now outnumbered on Wall Street and Main Street as near-term doubt saps gold’s momentum.

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

Paper gold traders are going to keep trading their paper gold. In the end they will have just that...paper.

I like the real stuff.

Paper Gold Volumes Vs Physical Gold Volumes - Intelligent Partnership

“This article gives an interesting slant on what “could” happen to the gold price if everyone knew what they were investing into when buying into Golf Funds” Although I have been writing about the subject of gold price manipulation rarely have I seen the relationship of paper gold sales volume...

intelligent-partnership.com

 

[Varmint]

Paper gold traders are going to keep trading their paper gold. In the end they will have just that...paper.

I like the real stuff.

Paper Gold Volumes Vs Physical Gold Volumes - Intelligent Partnership

“This article gives an interesting slant on what “could” happen to the gold price if everyone knew what they were investing into when buying into Golf Funds” Although I have been writing about the subject of gold price manipulation rarely have I seen the relationship of paper gold sales volume...

intelligent-partnership.com

I saw a chart somewhere that investors have recently drained 1/4 of the physical gold from GLD.

 

[Trafficdiver]

I saw a chart somewhere that investors have recently drained 1/4 of the physical gold from GLD.

Smart money gets in and out first. Slow money gets left with the empty bag. It's a story as old as time.

 

[Varmint]

Smart money gets in and out first. Slow money gets left with the empty bag. It's a story as old as time.

I must be really smart cause I got into gold miners way early.

 

[Trafficdiver]

I must be really smart cause I got into gold miners way early.

Miners are wonderful if you have perfect timing.

If you can sell them at a massive profit, and move that into phyiscal, you are golden.

If you try to ride the profits too high, you're going to be fighting with everyone else who tries to sell it and convert to physical.

I'd rather be early on the physical, and lose out on some profits that miners make, than make a massive profit on miners, but have it be paid back in dollars that are worth a trillionth of their original value.

At that point physical will be available, but not for dollars.

 

[Varmint]

Miners are wonderful if you have perfect timing.

If you can sell them at a massive profit, and move that into phyiscal, you are golden.

If you try to ride the profits too high, you're going to be fighting with everyone else who tries to sell it and convert to physical.

I'd rather be early on the physical, and lose out on some profits that miners make, than make a massive profit on miners, but have it be paid back in dollars that are worth a trillionth of their original value.

At that point physical will be available, but not for dollars.

Yeah totally. Investing in miners especially juniors requires severe contrarian mentality and intestinal fortitude. You can’t buy what’s already gone up, you have to wait to buy til stocks are rock bottom, cause they’ll drop another 50% after hitting rock bottom.