Anybody watching Gold?

[EL34]

Just curious if anyone here watches Gold and Silver?
The dollar loses value while Gold goes up.

[mresistor]

I've been waqtching it..   wonder how high it will go and also wonder why silver isn't keeping pace..  silver is still pretty affordable.

[EL34]

Silver has been catching up a bit lately, but it is considered a industrial metal more than Gold as a financial instrument.

Governments and big institutions hold Gold
I doubt they hold silver?
But Silver is more affordable for every day people.
Silvers chart definitely does not look as good as Gold
More sideways action than up.
But I think it will do better down the road

[EL34]

I've been watching it..   wonder how high it will go

The government prints money out of thin air.
So the value of the dollar goes down because there are more of them
People think inflation is some mystery
It happens because the government printing money and making it worth less.

Hard to say how high Gold will go
It's worth way more than the $35 per ounce it was many years ago

[shooter]

Silver is more affordable for every day people.

since I resemble that remark...
I've been buying n sellin silver since I was 14


just went to the bullion store last week and picked up 3 oz.
the last 10 years i've been "converting" paper slowly, not so much as a "capital" investment but as an alternative to paper when the 21st century has it's '29 moment.
I have 2 5 pound blocks of lead n the guy down the street has a small kiln n "projectile" press, figure we'll barter over chicken n such   

[mresistor]

When the dollar crashes, how is the everyday guy going to spend gold in the market? An ounce may be way to much to spend on everyday needs. I like the onces or gram offeringings that can be split into smaller pieces to be able to use easily. Silver offers an advantage in this case, everyday spending on commodities. Some companies are offering gold and silver notes, and some have gold threaded into them. 
Also there's that fact that smaller demoninations of gold bullion are priced with way higher premiums, which to some is very discouraging.
Lots of people invest in gold IRAs and precious metal funds. Those can be as risky as the stock and commodities markets. Holding preciouse metals is a better way to go.  I notice companies offering storage of physical bullion, for a cost, some like the new Money Metals depository seem to be alluring.   

[EL34]

90% Constitutional silver coins are smaller denominations than a 1 ounce Gold coin

Much easier to trade a silver dime than a Gold coin
At $25.91 silver today
A 1964 and earlier dime is worth $1.87
A 1964 and earlier quarter is worth $4.68
http://coinapps.com/silver/quarter/calculator/

[EL34]

When the dollar crashes, how is the everyday guy going to spend gold in the market? An ounce may be way to much to spend on everyday needs. I like the onces or gram offeringings that can be split into smaller pieces to be able to use easily. Silver offers an advantage in this case, everyday spending on commodities. Some companies are offering gold and silver notes, and some have gold threaded into them. 
Also there's that fact that smaller demoninations of gold bullion are priced with way higher premiums, which to some is very discouraging.
Lots of people invest in gold IRAs and precious metal funds. Those can be as risky as the stock and commodities markets. Holding preciouse metals is a better way to go.  I notice companies offering storage of physical bullion, for a cost, some like the new Money Metals depository seem to be alluring.

Full one ounce Gold coins are like $100 bills I suppose
You still need ones, fives, tens and twenties in your wallet

So if you have a bunch of Gold like banks and governments, you have big bars
Serious Gold bugs buy bars and 1 ounce coins

If you have 100K in Gold, you would not be buying small coins

If you don't have much Gold, you would probably buy smaller Gold coins.

[shooter]

how is the everyday guy going to spend gold in the market?

if we get to bullion as a currency, "the market" will be the farmers market, circa 1880's.  You'd be surprised at the "currency" that can be used there, currently.


working the beerBaitnGas the last 10 years, (now officially retired from there, new owners.) the locals would ask "What's new?" "Oh I'm working on my 1880's life with gas horses and limited WiFi"


I heat with wood, started cooking all my meals on it in December, shut it down yesterday, end of heating season, used the electric stove for the 1st time since dec, got up a 8AM this morn and stoked it up to cook!!  I forgot to turn off the electric stove when I was done, the cook times were way to "fast" on it, food tasted funny....  doesn't take long to find "the simple life" 

[mresistor]

These are proabably the most beautiful silver coins I have come across..   and xcellent purity the background is mirror finish     really nice in person 


https://www.moneymetals.com/koala-1-oz-silver/116

[mresistor]

Shooter my grandparents went through the 1929 depression. He was a dentist and people paid him with anything they could trade for services.  So I'm keen on the farmers market and trading and you're right that will be how people live, through barter. I think there will still be a need for precious metals in small quantities for larger purchases. You've read the old testament haven't you.


EL34   even though the feds have shut down mining in many of it's forms because of "the environment" there will be people out there prospecting and disregarding the law. They already do it, it will be much worse. Is there a new gold rush on the horizon? Maybe.


And I'll stop there..  might be heading into forum unsafe territory.

[acheld]

Thing is, USD has been up when compared to all (?) the other major currencies. 

Blame it on the Ayatollah . . . or Putin . . . or whomever.

[EL34]

These are proabably the most beautiful silver coins I have come across..   and xcellent purity the background is mirror finish     really nice in person 


https://www.moneymetals.com/koala-1-oz-silver/116

Yeah, those look great!
Eagles, Maple Leafs, Buffalo and Philharmonic are what I have
I started gathering many years ago at lower prices

I was into silver way back when the Hunt brothers cornered the market and drove the price up to $50

[EL34]

Thing is, USD has been up when compared to all (?) the other major currencies. 

Blame it on the Ayatollah . . . or Putin . . . or whomever.

The dollar is the world reserve currency, but I don't follow currency markets.
BRICS is trying to get around that.

[acheld]

BRIC. (a BRAC).  They wish.   Someday probably they will, but not for awhile yet. 

Yeah, it's been kinda weird.  I do follow the currency markets, albeit from a distance, but it's been interesting to watch the dollar do well against the major currencies this past year.   

[EL34]

Not sure how measuring one FIAT currency against another has any benefit?
To me, it's about like comparing one apple against another
Both are in different states of decay
Both are decaying, one is just ahead of the other

[shooter]

there will be people out there prospecting and disregarding the law. They already do it

one of the former Presidents decided to close ALL national parks, and forests.  I was out in the high desert, road-side park in a National forest, the gate was locked, got my gear, pan's n metal detector. 3 cars of families were there just looking at the locked gate.  One guy asked me "Is it ok to be here?"
I laughed said yep, we own it, there just won't be any Guvmint officials to tell you how to properly picnic..  I panned for an hour, ran the detector for an hour, perfect day.  Heading back I saw 7-10 families all enjoying their picnics, kids laughing n playing.


these are a couple rounds i've bought, sorry for the blur, to much caffeine, not enough food

[EL34]

The buffalo's are cheaper to buy because they have less of a premium

The Liberty rounds are the most expensive of the normal non custom types

Maples are between those two in the premium

I bought that American prospector back in 1984

The liberties look the coolest to me with that matte finish

[shooter]

the store I buy from has been in the community since the '70s.  I pay between Spot+$1 to spot +$4 for "custom rounds".  I asked one time since the 1-4 didn't seem to "align" with anything about the coins or press, Scot said, "It's based on that 'ol fashion thing called supply n demand" we laughed.


lunch is served, BBQ pork n Noodles, like it has been since the Iron-age 

[EL34]

Some crazy Gold action going on today

[EL34]

Thing is, USD has been up when compared to all (?) the other major currencies. 

Blame it on the Ayatollah . . . or Putin . . . or whomever.

Comparing currencies to each other is not the same thing as dollar value
That is just one rotten FIAT currency compared to another one
You can't spend that

A $5.00 bag of apples is now $6.00, that is inflation because of government money printing.
That is a loss of dollar value and affects us all at the grocery store. 

[shooter]

 
i save ~~~ $15 a month by cooking with wood, I use the $15 i didn't pay the electric man to pay the inflation man, what a world.


I've been buying/selling this obscure Canadian mining company that mines south of the American boarder since their original IPO
I use the ~~~ $100 a year I make in small trades to buy bullets, since it's all earthly metals 
and yep, MISSED this run-up so gotta sit it out.

[EL34]

Mining stocks are moving now because of gold and silver moving up
I have over 10 mining stocks that I forgot about
At one time they were worth way more than they are right now
I should have cashed in years ago

At this point, I will just sit and wait again.
Maybe I can remember to check on them more often. 

[shooter]

I should have cashed in years ago

I started "retail day-trading" in the '90s, after the smart kids that my Company used for our 401K lost me $80k and they had the gull to say "hang on to it, it'll come back", fool me once.
now that I have no real income coming in it's down to 1 or 2 small buys, never hold more than a month.  I'll take the 5% loss to free the capital for a 7% gain and be happy

[EL34]

Holy smokes, look at Gold now
There's bound to be a correction soon after this rise

[acheld]

I heard the Dogecoin boys were selling and buying gold . . .  maybe?   

I tend to agree with Doug.  However, when a correction will happen, I have no clue.   I've watched gold go up and down like a yoyo for the past 45 years, and while I understand some of the factors involved, I sure don't 'really' understand it.

The big economic issues right now, it seems to me, are the big disruptions in supply chains from the Iranians (aka Houthis), the Panama Canal drought, and the bridge that just got taken out up the road from me. Not to mention Putin's war.

[shooter]

However, when a correction will happen, I have no clue.

nobody really does anymore
prior to 2000 humans made most of the trades, with some semblance of "Logic", market trends, etal.  Post 2000, specialized algorithms do all "the heavy lifting"  the computer will make 1,000's of "micro-trades" a minute.  The human overlord simply sets the "min-Max" and the computer takes care of making it happen.


There was a great, real-time example a few years back when a group of "Reddit"(?) investors started shorting the "big-boyz"  I watched the tickers move so fast, most "home-software" sorta hung up.  I jumped in for $100, within 30 seconds I sold for $160, jumped back in for $100, lost $80 20 seconds later, jumped out, treated my fingers for burns   

[EL34]

Corrections are just part of a market.

People get into buying frenzies until a certain price.
Then buyers retreat and so the price goes back down to some support level.

If the support level holds, it will probably start back up again
If the support level is breached, it will most likely go down.

Can't predict that with 100% certainty, but charts reveal market sentiments most of the time.
So in the image below, when the price breached that upper line, that's a buy signal
That upper line may now become a support level
Gold may retreat to that upper line
If it holds there, that may start another buy
It it breaches, it may retreat down to the lower support line

[shooter]

yep, that's been the "classic" model we all learn, the software trades use something quite different.  They typically "predict" a trend before we have our 1st coffee, make more short-term cash by noon than a human could in a full day of charts n graphs.


Humans can and still do "make it work", once you've followed a single ticker long enough, you just know the Buy/sell lines....Until the unexpected.
EXK has always been a good buy at ~~ $1.50, sell at $1.80.  once you "miss" a break-out, STAY out til it quits being anomalist.


one article I haven't got around to reading yet, may indicate "why" the metals jump;  Headline was something like "Federal reserve is operating in the RED for the 1st time" true/false??, only Orwell knows any more 

[mresistor]

Silver went up a couple of bucks too.  Some folks have been saying silver has been underpriced for quite a while.

[EL34]

Silver went up a couple of bucks too.  Some folks have been saying silver has been underpriced for quite a while.

Yeah, the Gold to Silver price ratio is way off, for sure
Gold $2295 and silver $27.11 currently

[EL34]

Silver chart is moving now though

[shooter]

IIRC there was indications about 5 years back that "major players" were artificially manipulating Silver.  My "load" of silver has an Avg price I paid at about $19.  If it was an investment, I'd probably cash out if it hit $30, but it's not a "capital" investment, so i'll just hold for now.
last time I did cash out, silver hit like $40, made $500 profit, bought the "gun of my dreams"  a Winchester Model 94 lever action 3030, a hundred rounds.  That was way before these stupid years we're in.

[EL34]

Silver's chart is interesting

It has just broke through some overhead resistance
But it looks like there is another level above that one that it may challenge

We may see Silver make a run also?

Anything can happen
Just a interesting chart observance.

[shooter]

one of the "interesting" things I like to look at on charts, the dates things happen.  You can almost always find a "corollary" to a news report, finding valid news reports is becoming a crapshoot at best.

[RadioComm]

I heard about the US yesteryears saturating the currency market with unstained printed dollars (eurodollars) and Charles de Gaulle buying gold with this "currency". I remember back in the mid 70's (during Pompidou's time) it de-valuated the "real" dollar and raised the price of gold. Obviously not what's driving the market today... Just interesting trivia...

Eurodollars: https://en.wikipedia.org/wiki/Eurodollar

[EL34]

I don't have much optimism on things to come
The excessive money printing and huge spike in the dept and the interest on that is not going to go well.
Politicians think they have an endless check book and have no business spending money we don't have

As much as some people liked to mock Charlie Munger, I think he was correct on many things
Charlie has passed now, but here is his assessment of what we have to look forward to.

[shooter]

March marked the 56th consecutive month with > a million firearms purchase background checks.


On a lighter note, the garlic I planted in October is going block-busters, vampires beware! 

[EL34]

March marked the 56th consecutive month with > a million firearms purchase background checks.


On a lighter note, the garlic I planted in October is going block-busters, vampires beware! 

I did all my shopping back when Obama started his gun grabbing BS back in 2012
I have a buddy who is a firearms builder and license seller
The efforts to take away our 1st and 2nd amendment rights have kicked into high gear once again

[shooter]

I have a buddy who is a firearms builder and license seller

my neighbor was one, He had an indoor archery range, 3d archery, sold gun parts n kits.   Don't know "the  story" but he no longer has either, didn't do time but musta run afoul of the men in black.  This was late '90's  He specializes in Coon dogs, breeds trains, sells for thousands across America.


I've always been just a couple long guns guy til a few years back, Now I have my CPL, the 21st century has become (Your favorite words here)

[EL34]

Glock 9's, Mossbergs 12ga, AR15's, Diamondback 380'ss are brands I am familiar with 

[shooter]

 
I lean a little foreign, RIA tactical urban 12, Rossi 410, American's I know, Taurus, Winchester and Mossberg

[acheld]

Geez you guys.
 
I lean on a combination of rye and a bit of vermouth myself.   That's all it takes now.

[shooter]

 
and now we have my silver dealers "3B's" of the apocalypse Bullion, Bullets, n Booze.  Life is good.


I like my herbal garden arthritis med myself, so when were were talking about the "B's" I asked if it was ok to sub-in Bud for Booze 

[mresistor]

depends on how you're taking it

[EL34]

Gold and Silver ended the week with a bang
I was expecting a selloff after such a rise
Silver is approaching that overhead line I drew in a previous post

If it breaks though that line, it will take off big time

[shooter]

the EXK stock, dropped for most of the day, 3-4%, then about 3pm went positive 2.8%, I smell a breakout


I'm looking at 2020 data compared to 2024, there's a LOT of upward left before it hit's 2020 levels.
"news" rumblings are weirdly like 2020 also, sure hope they don't tell me this time, I can fish from my sailboat but NOT my Bass boat   

[EL34]

Tons of people who can't really afford Gold buy Silver
When metals hit the news again and all those people start buying again there should be a another bull market.

Funny how I used to see all the commercials about Gold and telling people to sell their Gold jewelry and other items
The silly commercials trying to sell overpriced coin sets and other goofy products that contained some Gold.
Silver and Gold clad garbage, not the real deal.

I don't see commercials any more cause I stream everything now but I am sure it will start up again.

[shooter]

my local radio has many adds a day "we buy old jewelry..."


"production" verses "sales" sorta...

[shooter]

looks like Silver is gonna break out, and i'm a day late n dollar short