Gold at another new record high. Ho. Hum.

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

The new highs are saying that interest rates are too low if it were a free market economy. The rate cuts are to bail out real estate refinancing. Instead of devaluing currency in the middle of the night they are letting inflation run wild.
 
An affection for silver kilos developed when I could buy them in the $650s around the same time. Nobody wanted them the same as gold roosters @ $335 which are $500+ today.
 
I need 2 more ounces of gold to complete a midterm goal. It's going to be too expensive in the near future. Only rich people will own gold.
 
nickndfl said:
I need 2 more ounces of gold to complete a midterm goal. It's going to be too expensive in the near future. Only rich people will own gold.
Click to expand...
LOL....i set goals too...even though i am well set i always have a goal out there, really just a hobby at this point

need ~185ozt of silver, 3.5oz PT, been giving my grandkids gold for all the holidays the last few years and need to replace some maybe ....but not in a hurry and not in a fomo issue...

did buy some silver last week nothing to get to excited about
 
Do your grandkids, or their parents, understand what they're getting?

That's an important part of this. Frankly, a child isn't able to understand the importance of long-term future planning. It takes time, and brain maturity, for them to grasp it.
 
Casey Jones said:
Do your grandkids, or their parents, understand what they're getting?

That's an important part of this. Frankly, a child isn't able to understand the importance of long-term future planning. It takes time, and brain maturity, for them to grasp it.
Click to expand...
i did the same thing to my kids as they were growing up ...they were able to buy cars etc when the time came so they understand...my daughter(mother to the grandkids) still has some of the PMs from her childhood so she understands and she is the major breadwinner in their family, my son-in-law a fine man is more of a "stocks" kind of guy .....the kids are still young (preschool) so we shall see as time develops...... but it sure beats buying them piles of throwaway Chinese toy crap

both of my children are very financially astute and responsible so i see no reason for the grandchildren to be trained otherwise

i 100% agree that financial understanding and training should be a major component to a childs upbringing
 
Last edited:
I thought I would feel better when gold went parabolic. All thew silver bugs will experience brief euphoria too until they realize what parabolic silver means to the overall state of the economy.
 
Last edited:
Rather childishly, I check my balance when we hit a new ATH in gold.
And curiously, I no longer feel better on seeing the new headline number.

There was a moment when it hit my year of birth (in £sterling terms) and I am now able to evoke a memory for the year that gold currently sits at.

Today for a moment, it looked like we might hit 1984 and that somehow seemed appropriate ..........
 
I think the recent move is based on recession fears. For now anyway. I do think the metals are sniffing out a recession that is a lot worse than what Wall Street is pricing the market at. For now. Wall Street might also just be loading up on shorts waiting for the spark (that they will probably create) to drive the markets lower so they make billions on the way down. Just speculation on my part.
 

Nick, your receipts are great. Here’s one that can bring a tear. From 2021. Finally almost broke even….
(Not gold)
 
I bought plenty of 1oz silver @ $30, but kilos and kilos @ $17. I sold about $100 of junk silver for around 12x years ago too. Wish I kept it.
 
Reckon a down day as we hit month end, Q3 end and a significant run up in pog to encourage profit taking .........
 
... And from what X/Twitter is telling me, gold/silver trading is closed in China (SGE/SFE) this week for a holiday.
 

Gold breaks $2,700 barrier for first time on safe haven demand​

  • Hezbollah says it will escalate war with Israel
  • Gold hits record high of $2,714.00; prices up 2% for the week
  • Silver set for weekly gain
Oct 18 (Reuters) - Gold raced past the $2,700 mark for the first time on Friday, extending a rally driven by expectations of further monetary policy easing and safe-haven demand due to uncertainty about the U.S. presidential elections and Middle East conflicts.

Spot gold rose 0.7% to $2,711.75 per ounce by 0933 GMT, having hit an all-time high of $2,714.00 earlier in the session. Bullion has gained over 2% so far this week. U.S. gold futures gained 0.7% to $2,726.90.

More:

 
Nobody trusts bonds since the USSA is weaponizing them against anybody that disagrees with the DS.
 
I don't know anyone in person who is talking about the BRICS. Only online peeps. It is coming but not right now. Going to take some time to implement it. Also will be just for governments to transact in. Wont affect the average person who will still use local currency. For now anyway.
 
They have a debit card and phone app with QR code that is decentralized. It looks like a better mousetrap so far.
 
1 month ago

We Need To Discuss Gold IMMEDIATELY​

18
 
Since around July, gold has been in a very nice uptrend and pretty much staying within that narrow channel. Top of the channel is about 20 dollars above where we are now and bottom is about 80 below where we are now. Gold is up about 37% for the year. Silver up about 33% for the year.
 

Safe-haven demand secures gold near all-time highs​

  • Gold has risen more than 32% so far this year
  • We should see silver cross above $35/oZ - analyst
Oct 22 (Reuters) - Gold climbed on Tuesday, trading not too far away from the record peak it hit in the last session, as concerns over rising geopolitical tensions, U.S. election uncertainties and prospects of central banks lowering interest rates boosted demand.

More:

 
^^^ It's not "safe haven demand". It's monetary insurance against fiat dollar malfeasance. "It's the economy debt, stupid!"
 
I miss Axstone.
 
Cigarlover said:
I don't know anyone in person who is talking about the BRICS. Only online peeps.
Click to expand...
You won't hear a peep about it from the average until it becomes absolutely imminent.
Just don't make the mistake of thinking it's gonna take Decades, 'cause it won't. It'll be before end of this Decade. Have no doubt about that.
They aren't doing all this to have a workable system in place 2, 3, or even four Decades down the road.
 
Now that it's happened...time to batten down the hatches. Check your **OTHER** metal supply - and your technical skill in using it. Time to check your own fuel tank - closet, boxes or hole in the ground. Protein and fat. The same people who want to kill you with not-vaxxes, tell you your diet should be carbohydrate-based.

I think it's in months, maybe weeks. I don't think this political season will end well - it will end with Martial Law and a fast, public execution of Literally-Hitler.
 
My time for cake and champagne will be when my silver stash breaks even . It’s only down 4% today

I don’t know if the bullionvault numbers deduct the storage and insurance costs but after more than 10 years it will not be insignificant.

Having waited this long and we are not there yet , should I ride the wave and seek an actual profit or should I cash in and buy me a bitcoin ?
 
Yes
 
Well, you've held this long. Might as well wait for some profit. My own thoughts are as follows.
The metals I have are a preservation of wealth. Yes they are there in an emergency but mostly as preservation of buying power. If your intention was just to turn a profit then probably better investments out there. However right now seems like a pretty good time to ride the wave.

My thesis is that eventually the dollar will fail and whatever I have in metals will get me to the other side. Probably start off fairly well on the other side. Much better than if I was holding dollars that eventually go to 0.
 
Cigarlover said:
If your intention was just to turn a profit then probably better investments out there.
Click to expand...
Absolutely. As George Gammon and others keep pointing out, short-term, other investments, such as stonk in industries approved by the Regime (MIC, wind power, battery "cars," Big Pharma) will rise in value with the erosion of the dollar's value. The feeling will be, the value of the business, or at least its break-up value, remains stable, unlike the fiat-dollar. So its share price should go up. And erosion of the dollar means more financial chaos, which means MOAR QE!!! BAD NOOZE IS GOOD!

QE, we all know, is using three-card monte between the Fed, the mega-Banksters, and the Stonk Market to launder printed-up/digital-creation fiat.

So, yeah, if you want to see your figures on your device grow faster than the dollar falls, go to Stonx.

If you want something after it all collapses in a smoking pile - and maybe even have something if Armageddon is put off a few moar years, however it's done - then PMs, in hand, are a safer bet.
 
You must log in or register to reply here.
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more…