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 Replies: 16 / Views: 3,731 |
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Pillar of the Community
United States
722 Posts |
Yesterday I bought a substantial amount (for me) of gold. This is a clear indication/predictor that spot gold price is due for a major downward correction.
Going out to wash my car now. (Hmmm, are those rain clouds in the distance? Naaah, I'm going for it.)
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Pillar of the Community
United States
2235 Posts |
Gold is good. It would be disappointing if gold tanks soon after a large purchase. Gold is down some so today I bought one 2022 gold Buffalo which is a big buy for me. I like to watch YouTube silver/gold stacker channels. One says silver/gold going high soon, another says, nope, a coming recession will mean less demand so silver/gold heading down for a while. NOBODY knows. I believe spot prices are manipulated by the big banks, paper trading. I just keep stacking when I can. I buy, hold, don't sell. I'll sell if I need money, but plan to pass it on to my daughter.
Edited by livingwater
05/10/2022 4:24 pm
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Moderator
 United States
188770 Posts |
To be a winner with PMs... someone has to lose.  I wish you luck, though.  |
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Valued Member
Canada
107 Posts |
actually the price goes down is because the raise of interest. Big guys put more money to the bonds for a fixed and better profit. And due to the massive release of cash last two years, the increase of interest will continue, and the trend of gold price will not change for short term. Moreover, the competition between Russia + China vs Usa + Euro implies there is a possibility that those wall street financial big guys will manipulate the gold and silver price to a much lower price, given that Russia and China all have quite a lot gold reserved. Remember that, just before the rise of interest and hence the drop down of gold price, all youtube related channels predicting the rise of gold because of the war happening and the recession coming. I don't trust them at all after all this happen. Since the rise of interest is already predicted by some of those channels, and they cannot relate this and the gold price drop.
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Pillar of the Community
United States
1479 Posts |
after physical / mental exhaustion have come to realize not to take silver so dang seriously and keep buying 10 oz a month put it in bankbox and forget about it. Hecla mining at $4.34 today so bought 100 shares instead of a 10 oz bar (smile) good old Hecla always tanks then goes up to $9.00 then back to 5 I just like hecla.
Livingwater congrats on your one ounce gold, feels good don't it. I'm a poorboy myself and one ounce is a small ransom. Don't forget silver its cheap and shiny too.
Edited by luvmyCAM
05/10/2022 9:24 pm
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Pillar of the Community
United States
2235 Posts |
I mostly stack silver but I like having some gold. My dad gave me 25 shares of Newmont MIning Stock years ago. I kept them for about ten years, they didn't do much so I sold them. I found a site that discusses the relationship to gold and interest rates. Interesting. https://elements.visualcapitalist.c...golds-price/Edited by livingwater
05/10/2022 10:58 pm
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Pillar of the Community
United States
533 Posts |
Dollar is up to other currencies so gold/silver is down
Eventually prices will catch up to inflation so personally I think it's a good time to buy
Buying bullion is not an investment that you can expect to make money on but basically a long term inflation hedge
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Pillar of the Community
United States
7276 Posts |
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Moderator
United States
188770 Posts |
Quote:
I buy bullion because its pretty and the premiums are low compared to lots of other coins. Looking good!  |
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Valued Member
United States
314 Posts |
It doesn't take too many articles or videos before you realize nobody really has any critical insight. Prognosticators show no embarrassment year after year repeating the same stories. Before it was just to sell you newsletters, now it is just to get clicks.
I'm with hfjacinto. I like gold because it is shiny. I handle the one Krugerrand my Dad gave me and it is pretty cool.
Besides being shiny the 2 best attributes of PMs are 1) It is simple and only a handful of things to learn and 2) It is anonymous (so far).
Lot of headwinds for PMs now. Dollar index (DXY) is at the highest level in 20 years. Stock market is tanking and crypto is in the most precarious position ever. Take a look at the BTC chart. If BTC drops much below 30,000 there will be a lot of people underwater. There was a recent article about large BTC players that have margined their positions. Works great on the way up, not so much on the way down.
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Pillar of the Community
United States
2854 Posts |
If Jeremy Grantham (co-founder of GMO Capital w/ more than US$118 billion in asset management) is correct in regards to the Market being in a "Super-Bubble", the 5th Great Bubble of the Modern Era, IMO.... Gold & Silver will return to safe havens. BTW, he correctly predicted ALL the recent market crashes.
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Pillar of the Community
 United States
5191 Posts |
"It is not a stockmarket, it is a market of stocks."
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Pillar of the Community
United States
3343 Posts |
Gold is a hedge. One of many. Right now stocks and bonds aren't looking as good as the cash I didn't reinvest in December. I would have lost 15% of it by now. Even in inflationary times, cash is sometimes a good hedge too.
"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
3343 Posts |
One thing I've noticed is a steady ratcheting up of prices for common gold coins. While the price of gold rises, this makes sense. But when it goes down, bullion dealers respond and reduce prices immediately. Regular coin dealers stick with the inflated bullion price levels. Dead stock is their problem, not mine.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
Canada
402 Posts |
just a point to file away in the back of your mind.....when people get margin calls on stocks ( or financially squeezed in any way), they tend to liquidate their "winners" {i.e. stocks or holdings that have risen in value, ...we are it seems reluctant to 'lock in' a loss},,,so a they may liquidate their gold/silver holdings that have appreciated rather than investments that have lost or are "losing money:.
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Bedrock of the Community
Australia
21788 Posts |
I have never seen bullion generally as an investment.
Much more a fiat currency hedge.
The only bullion I have is 7 x One Ounce Platinum coins, bought about 5 years ago
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Replies: 16 / Views: 3,731 |
Posted 05/10/2022 4:31 pm
