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 Replies: 12 / Views: 861 |
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Pillar of the Community
United States
2213 Posts |
Gold and silver spiking up, gold a record high...will be interesting to see if these levels can be sustained or when/if the paper traders profit sell and slam down spot prices, it's a roller coaster ride.
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Pillar of the Community
United States
3342 Posts |
Back in the 1990's gold was at $400. It's a roller coaster ride but over the long term inflation keeps gold moving up.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
311 Posts |
Those quick moves up look like short covering. Every single gold short is a losing position now. With each higher close, the margin calls go out.
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Pillar of the Community
United States
2456 Posts |
lol, I had to look twice at the chart; I failed to see the 1 in $2143...
well isn't that interesting..
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Pillar of the Community
United States
2456 Posts |
I'm glad I nabbed a 1/10oz AGE last week; the same coin is $50 more expensive today.
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Pillar of the Community
 United States
2213 Posts |
I'm glad I got a gold coin too last month when spot was briefly down to $2,003. It's melt value is now worth more than what I paid. Of course spot price could get hammered down as fast as it's gone up, always good to buy the dips. I buy and hold, don't sell anyway, in it for the long haul.
Edited by livingwater
03/05/2024 5:51 pm
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Pillar of the Community
United States
2456 Posts |
Quote:
in it for the long haul me too!  |
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Valued Member
United States
465 Posts |
I'm in it for the long haul or zombie apocalypse. Which ever comes first.
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Pillar of the Community
United States
3342 Posts |
I remember when spot gold was $400, and when it was $1200, and when it was $1500. Spot moves up and down but it has never gone back to the old levels, despite everyone's wishful thinking.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
2456 Posts |
Quote:
I remember when spot gold was $400, and when it was $1200, and when it was $1500. i was pondering that yesterday as I looked at the spot gold & spot silver 10 year charts. i, too, remember spot gold at those levels. in the years right after 9/11 (2002-2004, -ish... yes, that's farther back than just 10 years) I remember telling ppl to start buying gold. I began dabbling in it by 2008. Quote:
Spot moves up and down but it has never gone back to the old levels could it? on these boards we speculate whether spot will rise or fall, but could it fall precipitously, say, back to the $400-level (or any other ridiculously low figure of your choosing; I picked $400 just as a hypothetical)? what would be the mechanism to get it to do that? would it be something like a huge re-valuing (or de-valuing) of the dollar? I'm just spitballin' here, I really don't know. edit: I see the PMs are popping upward again today, too.. another edit: ...and just as I typed that I see the PMs have popped downward.. this is why I don't watch the daily market action...  Edited by MrPink2018
03/06/2024 1:33 pm
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Pillar of the Community
United States
3342 Posts |
Over the years, I've seen a lot of "when gold hits x I'll buy" posts. You buy the dips, but setting a low target price is more of an excuse for not buying at all. If you want it you have to pay for it.
It would take a huge deflation/depression to drive gold back to $400. It would be a buyer's market, but probably not too many buyers.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
03/06/2024 9:00 pm
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Valued Member
United States
311 Posts |
If gold went down to $400 it might as well be zero. At that point both gold and USD and every other fiat currency would be basically worthless. It would be a scenario where food, guns, ammo and medicine would be worth everything and everything else worth nothing.
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Pillar of the Community
United States
2456 Posts |
i just re-read the 'gold is not an investment' thread.
when I began picking coins off the pavement in 2018, gold was in the $1200-$1300 range. now it's pushing up to $2200.
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Replies: 12 / Views: 861 |
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Posted 03/05/2024 12:51 pm
