Gold is driving me bananas

[SilverStacker]

Right when theres a deal I just can't pass up on, like BE with spot Krugerrands, then gold gets cheaper. And when I buy a coin when its even cheaper guess what ? It then gets cheaper. Today I had no plans to buy gold because, frankly, I'm just not a wealthy guy and while this is money I can afford to spend it doesn't mean I want to spend it.

But I haven't bought from JM lately because Ive been buying my gold from BE "Bullion Exchanges" exclusively. Well JMBullion has this incredible 3 per household sale on 1oz ASE's, with another little bone for US Veterans, for $3,352. Now its been a long, long time since Ive seen 1oz ASE's for $3,352. The next cheapest right now that I see is Summit at $3,390 and everyone else is at $3,400 + an oz. But thats for now.

So naturally gold then take a dive off the deep end and makes it to $3,334 and right now is $3,336.16 and no doub't will go even lower when peace breaks out and the markets stabilize which means gold will get even cheaper. Everyone is predicting expensive gold by 2026 but I sure dont see it. Instead with every new coin I buy I seem to be taking it up the keister and I'm starting to see a pattern here. Obviously the big players and big bullion houses know a lot that we dont. Its a cut throat business and they do it for a living, so when you see a deal to good to believe then dont believe it. I bought a 10 oz silver bar from Silver Gold Bull for $371.26. Same type deal and silver was at $38.79 so I figured why not ? Despite having no plans for buying more silver. Well shortly after that silver started to plunge and now is at $38.08.

Its just interesting how the PM markets play out in both the short term and the long term. They are beautiful metals and great ways to park money other then with paper and ink and I'm glad I picked it to hide 15% to 20% of my wealth away from prying eyes, the Govt. most of all. Gold will always be gold, I learned that over seas, and I think silver has a nice future as well. Sometimes tho its a difficult market to understand.

 

[Voodoo]

Unless your trading I suggest taking a bit of a step back and not watch the prices as often...It will end up being a lot of noise. If we get an "event" gold could sell off a bit in the next few months. I could easily see Gold pulling back to the $3,080 level. Not a big deal considering its huge move. However, miners are arguing against that so its muddy. Perhaps this event actually spikes silver... Many drew that triangle a bit different too so it may not breakdown.

 

[Casey Jones]

^^^^^

Absolutely, don't watch it. Buy and hold and don't think about it. Markets are messy, and especially now as the nihilist Left is taking our social-fabric apart.

I bought at $600; then the bulk of my holdings at $900-$1100. When gold pulled back from $2000 to about $16 and change, I wasn't happy. Especially not because I had to sell some of it to survive three years of no-income.

I can't say I made it back up - my erratic work history (picked the wrong time, 2008, to leave a job with seniority for a better one where I was the newest hire) wound up having me spend almost half my savings to keep alive in those years. BUT. I toured the nation, in that time. Saw and did things I could never have done had I stayed put. And my gold savings kept up with inflation, and then some.

So it is, now. The most I spent on gold, other than fractional coins, was $2050. When gold hit $3000 a few months ago, my first thought was, that's interesting. Then, some ominous thoughts about what might be happening that the nooze liars were spiking.

I'm not worried about it falling, now; because - in dollar terms - it can only go up. Because inflation cannot be stopped.

Some "experts" assert that gold price isn't tied to inflation; that it's only about central-bank desires for hard assets. I say, bull. People, for forty years, didn't buy gold because dollar investments paid returns. That's now gone; and the midwit money-managers have to re-calibrate their thinking. That's hard for mid-wits to do.

But they will. People in Wiemar Germany didn't buy stonks or hedge-fund assets. The few who had money, bought gold and silver.

 

[SilverStacker]

Good advice. Its all a new way of thinking, especially for an American. I dont forget I'm in it for long term and will never cash any myself, until after I died, and if your dead then whats it matter ? My goal was always to protect loose cash from inflation and these corrupt hack politicians and the way they like to print and spend my beloved greenback.

I spent money I could afford to easily. And any loss so far aint much more then dinner money. Its more a desire to win then an expectation to. Like a football game I watch the charts. I'm just competitive. And who wants to lose money anyway ?

I get an assured pension and should be dead and buried before the Democrats screw us out of it. I'm hoping anyway.

 

[Voodoo]

I really hate spending money. So that makes it much easier for me to kinda wait on buy points that feel pressing.

 

[SilverStacker]

I'm going to take a break for the rest of the summer and then spend the rest of 2025 collecting. I prefer collecting numismatics anyway I just buy bullion cause I'm a greedy little shit and I have Dwarfs sickness.

 

[Fatrat]

Dollar Cost average, timing the market is rarely possible.

 

[nickndfl]

I bought a couple of AGEs at spot from JM. I am not worried about a few bucks up or down because I will probably be done buying @ $3500.

SD has been running spot deals on junk silver.

FWIW I have never regretted buying any PM at spot and wish I bought more.

You would also be way ahead today if you bought at the top of the market every year for the last 10 years.

Relax bro.