Gold ? Is it time to buy ?

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SilverStacker

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What do you think ? Has it hit rock bottom yet ? $3,300 seems to be the new "Low" and it hasn't gone much past that. I bought a 1oz Krugie for $3,303 the other day, which is still outrageous, but it is what it is. And now with tariff talk starting up again and NATO being drawn into Ukraine this might be as low as gold can go. What do you think ?

Its very difficult to predict.
 
SS, short term prices go up and down as the big boyz manipulate and profit regardless of price direction
We’ve seen big moves in short timeframes recently.
It’s curious that geopolitics does not seem to massively impact price though ……
You keep asking for opinion/ moral support for decisions on purchasing gold or silver and unsurprisingly, no one is keen to step up in support of any decisions you make .
I think most here have experienced a drop in price almost immediately after purchasing metals .

The bigger picture though, remains unchanged .
If you trust fiat money then spread your risks but if you don’t, then dump whatever you can and convert it to silver or gold.

As to whether to focus on silver rather then gold, we’ve been waiting 13 years for the big move in silver and I am still down 5% on my silver purchases back in 2012 . I will happily sell my silver at break even cos I am fed up with sitting on it but my gold is up 200% in the same timeframe, so I can take a view. The arguments for silver having to rise a lot, have been around for all those 13 years and so far, have not played out. Either the arguments are wrong or those who control prices / markets have decided that gold can rise but not silver.
Maybe one day soon, the control system and / or the us$ breaks . Then the metals go bidless as it makes no sense to convert your metal to something useless. Bic lighters and whiskey could be more beneficial than precious metals.
At the end of it all, the question becomes ‘ what is important to you ?’
For me it’s quality of life, for me and those I care about and this leads to health, quality of what we eat and drink and community.
I now see my stash as my rainy day fund that hopefully I will not need and am happy to spend whatever seems appropriate on resilience and health.
 
I nibble when I can, I intend to keep nibbling...look at this way, do the politicians look anymore honest???
 
If you have the money buy the spot deals at Bullion Exchange or any other dealer. Right this second silver is a better deal @ spot. Buy both.
 
I think gold will continue up. I expect silver to go up more. I do not predict timeframes. I have no crystal ball.

The choice of what to buy depends a lot on your personal circumstance and goals and what deals you can find. $.02
 
I predict Bitcoin will make a new high very shortly.
 
Well gold is shooting back up again so I probably made a mistake not buying more. At $3,300 it leaves me a little weak in the knees. Yeah the abraded Liberty's that were $3,315 are now $3,336 and gold is at $3,327 from just under $3,300. The Krugie I bought for $3,303 is 30 bucks more right now. I knew the dip wouldn't last.

Maybe I'll just concentrate on my silver for now as much as I'd like more gold.
 
It's gonna shoot up. Continuously.

Yet, an ounce of gold probably won't buy much more than it does now. Certainly not long-term.

This is just currency debasement on display.

$16/hour is now a minimum wage in many places and most industries. Certainly people won't work for much less. $24 an hour seems a wage for valued employees in light-manufacturing or profitable-service businesses.

I never made $24 an hour in my LIFE, until I went railroading. Even then, it was figured another way, by the mile, not the hour. I worked state jobs, drove a cab and even a union job driving a bus...nope.

But then I never paid $2000 a month rent, either. My rent in Denver, 1995, height of a boom, was $550 a month. Not a beautiful place, but clean and safe.

I had a new pickup, purchased that year, that cost me $5700.

Both of those things have gone up between 4x and 10x. So did gold.

So if you can swing it, I'd be backing the truck up to buy.
 
I was saying the same thing when I bought a bunch of 20 francs for $350s and a couple weeks later the vendor sent me a special email offering me whatever I wanted @ $325 each. I bought another 16 and wish I bought 50.
 
A bit of a milestone today ,

After a 13 year wait my silver has hit breakeven !
In fact I’m seeing a 1.6% profit !!!

GSR down to 90 too as it hopefully moves to a more average 40 …..
Good job I mostly loaded up on gold then

So yeah if I had never purchased silver, now might be the time to start .
 
Why did you not average down ?
 
I remember when gold going to $3000 USD was CRAZY talk. Get out the butterfly nets and shock treatment for whoever uttered that phrase.

What sounds crazier now?
A: Gold is going to $5000!
B: Gold is going to $2500!
 
I started buying silver at less than $5, but I also bought when it was much higher like you. Gold was $314ish when I dipped into that for the first time.
 
nickndfl said:
Why did you not average down ?
Click to expand...
we were told that silver was going to the moon and if we all bought silver we would break JP Morgan who were apparently shorting silver and silver would go even higher .
I had just sold my house, paid off the ex and didn’t need to buy another house, so I bought 50 kilograms and watched it loose up to 50% of what it was when I bought it
Then of course I did what all losers do and waited …… and waited ……
And
The uk banks looked like they were about to collapse in august 2012 and a pile of digits in a failing bank computer seemed like a massive risk, so I was greatly relieved to get it all into precious metals .
 
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Viking said:
I started buying silver at less than $5, but I also bought when it was much higher like you. Gold was $314ish when I dipped into that for the first time.
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Youv done well then. Good for you. To think that $3,300.00 gold is a dip really sounds kind of crazy but I'm glad I bought during some dips "not that I have a lot". For a working guy $3,300.00 is a lot of money.
 
I'm done buying and selling PM's. I've got a decent stash, a fair amount purchased from some here and the old GIM2 crowd. By far most of my purchases were from a local dealer I got to know back in Albuquerque. (I knew I shoulda turned left back in Albacoikee). I'd shop around on-line and find the best deal I could & then go see him right at closing time, but our deals usually took 2 or 3 days.

He'd lock the doors and we'd BS around for an hour or so. He was a great mentor and taught me what to buy and what to stay away from. I wish I had paid more attention to his advice about gold, shoulda bought more. Hell just a year and a half ago gold was at $2200. I did buy some then but wish I'd bought more.

I learned a lot from him and he'd always make me a smokin deal especially on junk silver. He usually talked me into buying a bit more than I really wanted just so he could give me a better deal. He was a sweet & generous old guy, with a great outlook on life. Its too bad many in his family didn't have the same mindset. RIP Mr. Castle, I was lucky to have gotten to know you,.....you'd be welcome at my campfire anytime.

 
Voodoo said:
Why am I seeing coded messaging in Bugs Bunny now... Man
Click to expand...
I'm seeing the cultural roots.

Bugs' accent...Mel Blanc's accent - is NYC Yiddish. That's what you'd hear onstage at the Borscht Belt comedy circuit in the Catskills resorts.

Of course, in the 1960s, many of the NeYawkers who made the move to Hollywoodland in the 1920s, were still very active. It became a sort of Yiddish mafia - you had to either be Jewish, or tied to the New York culture (or else homosexual) to get steady work.

And to Jewish NeYawk transplants, there was nothing less relevant than Albuquerque (I'll-be-quirky).

Of course that's changed, now. The Jewish Mafia in movieland, welcomed the SJWs and sexual deviants, and then themselves died off...and what we have now is a hellscape of Woke.
 
I dont blame anyone for sitting on their stash since both gold and silver have really got expensive, gold most of all. And while PMs have got more expensive, for most of us, our earnings haven't kept up. But that alone tells you what ? It tells you PM's are a pretty damn good place to park your money.

And looking at the big picture I think most of us can agree they days of cheaper gold are pretty much over and silver as well. Big Govt.'s, big finance interests, and yes us smaller players, are flocking to the yellow metal due to economic concerns and the devalued fiat currencys. There will be dips, in the last few weeks I bought at $3,000, but I just dont see gold ever going under $3,000 for any length of time. $3 K for me is a lot of money. I'm no rich oil Baron. Tell me if you disagree with my thoughts on PMs.

And silvers future looks assured to me. Its in its 5'th year of demand outstripping production and its importance in the generations of new technology is fixed. Its beauty in jewelry and other uses just make it to important to ever see us in the $30 oz range again. My predictions are more conservative but I see $40 by the end of the year, or sooner, and $50 in 2026. Probably sooner then later.

Silver ain't a bad place for the working man to park his spare money. The sheer beauty of the metal, at least to me, even outshines gold. And saving fiat currencys in low interest type accounts is just a bad move. My silver money is the money I'd use to "stupidly" save in a low interest bank savings account. Being raised with the perception the Greenback is king.

18 mos in Martial Law Turkey just re-enforced that thinking because back then you could live like a king spending $USD. And of course the Turks loved taking it because it was the one currency they could use to buy gold. That was their end play. Get ahold of $USD and increase the family bank, which was gold. A generational family back. Thats a big reason so many cousins marry cousins in these society's. To keep the gold within the family.
 
SilverStacker said:
...
And looking at the big picture I think most of us can agree they days of cheaper gold are pretty much over and silver as well. ...
Click to expand...

I suspect that the perspective that $3300 gold and $38 silver are not cheap is an example of recency bias. With a broader perspective, it's not difficult to discern a number of metrics that show these values are still quite cheap and the metals should be much higher.
 
"Cheap" PMs exist when there are more sellers than buyers.

In the post-1984 past, it was because the dollar was the place to be - the economy was growing, investment opportunities abounded - and of course, the return on gold is zero-percent.

It wasn't even appreciating, because to invest - and gain compound interest - you had to hold dollars. Dollars could be used in growth investment. PMs just lay fallow.

That's all changed - hard times ahead. Our money isn't going so far because our standard of living is falling. That happens when government regulates industries out of existence, and even restricts FOOD PRODUCTION. That cannot have any effect BUT to make us all poorer.

Not the Elites, because the Elites are still benefiting from seigniorage - as rentiers, as those first in line for the New Money being created. But as the Elites get richer, their numbers shrink - and millions are being thrust into grinding poverty.

How will gold weather a famine? I don't know. I do know how paper fiat, or computer fiat, will weather it.
 
The FED needs to keep printing or the system will collapse. PM prices will vary, but if you expect to be alive in 10 years you can look back at today's relatively cheap prices.

You probably will not recognize the new supply side, low regulation economy that should be in effect by the time Trump leaves office.
 
Looking at my action and last March I bought an AGL anniversary coin at $3,036 and my wife thought I was nutso for doing so. That very same coin is going for $3,588 right now which is insane. The following month an AGE was $3,183 and now is $3,510. Even Krugerrands went up almost $400 an oz in a months time. Its crazy.
 
SS, hopefully you never see 12% down moves but theres plenty of precedent for such things.

I watched my entire lifes savings drop 30% in a few days a couple of years into my going 'all in'

Yes 11 years later, I am up over 200% but I accept it could all disappear in the blink of an eye, e.g. Russians take over Zurich, as could your fiat digits in that bank or insurance / pension fund computer.

Think I am attempting to say, dont get too carried away with the short term moves .............
 
That's the risk you run, when you invest on market value. I got my spanking a few years earlier, 2009. Obamapanic. Lost 30 percent in my M-funds.

And got out. I thought it was the Grater Depression ramping up - a flippin' MARXIST coming to power, someone obviously a puppet, with crude fake papers? The banking system won't SURVIVE this - time to get into something moar elementary.

I was new to investing. Long story why - I had saved haltingly, in my forties; although I had made a nice packet by some Big Pharma stock left me by a distant relative in the 1970s. The legacy was $100. I sold it for $55,000, 15 years later. Nice work...Hank had written a letter to be given me with the inheritance, stressing that I now owned part of American Industry, how the nation became prosperous...you know...an elderly great uncle writing to an underage relative, letter to be delivered on death.

I sound like him now. I wonder if his experience was as painful as mine.

Anyway. I found myself with my parents' house, which was sold. I HAD trusted the stonk market. I didn't know who Glass and Steagall even WERE, or that their work had been repealed, in Bubba's covert plan to make the stonk market a manipulated tool of the money-printers. Didn't know banks were buying index funds for house accounts. Didn't know Fed monies were being loaned to member banks to fund those house accounts - commissions earned for the banks - and then sold, days later at higher prices. Classic manipulation and a hiding of money-printing.

So the stonk market is a joke. Basically, in this fake-and-gay investment climate, there IS no safe investment. I rag on bitcoin; but it's probably no more dangerous than any m-fund being sold, now.

Yeah, I could have made that 30-percent loss back. In fact, I did, with PMs. Could have earned much more by sitting tight.

Could have had my capital appreciation taxed, too. And have had it all on paper, there for the broker to report. AND...now I'd be panicking over the Grate Taking (David Webb) - which, I think, is probably a real thing. We're finding there's no limit to the depths of criminality of our current financial Elites.
 
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