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The Sh*t hits the fan and precious metals falls like rocks...

AUandAGAUandAG Posts: 24,515 ✭✭✭✭✭

explain that.

bob :)

Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
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Comments

  • philographerphilographer Posts: 1,310 ✭✭✭✭✭
    edited March 14, 2020 3:30PM

    It would be more valuable in a situation where the currency is devalued. That has not happened. Currency is strong. What people are focused on is household supplies should this become more significant.

    He who knows he has enough is rich.

  • hchcoinhchcoin Posts: 4,825 ✭✭✭✭✭

    Great question Bob. I just can't see margin calls being the main reason.

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭

    A lot of this is it not hitting the fan enough, so some folks are aiming more handfuls so that it does more.

    Liberty: Parent of Science & Industry

  • isaiah58isaiah58 Posts: 385 ✭✭✭

    ETFs are paper, people are pulling their money out of paper assets. Try logging into a online bullion site and buying something. Many are overwhelmed with orders of physical and not allowing new orders to be placed. The eBay stores have raised prices on most unslabed bullion.

    IMHO, based on current premiums, this is probably the best time to buy paper over physical.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    While ETFs are paper, they do not set or affect the spot price of gold. Spot price of gold is determined on commodity exchanges such as CRIMEX COMEX where gold futures (paper) trading sets the spot price. The futures contracts are not backed by physical gold with the supply of contracts being infinite. Unlike free markets, the supply and demand of physical gold is not a part of the pricing mechanism for spot price. Growing premiums over spot price however are the result of increased physical demand and/or decreased physical supply.

    Paper gold (futures market) sets the base price (spot). Premiums over spot for physical gold are determined by fabrication costs and supply/demand.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • DNADaveDNADave Posts: 7,239 ✭✭✭✭✭

    Imagine what all would happen in a real nation wide disaster.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    @DNADave said:
    Imagine what all would happen in a real nation wide disaster.

    Ask the Italians, they know. Guess whose in line to be next?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • jmski52jmski52 Posts: 22,309 ✭✭✭✭✭
    edited March 14, 2020 9:02PM

    If you are referring to the coronavirus situation as a true SHTF scenario, then I would think that metals went down because more immediate necessities took priority over holding precious metals.

    However, assuming that all of this is a consequence of the coronavirus, isn't it just a little bit strange that only the discreet group of precious metals investors are the ones being affected adversely on a day like Friday - but not stock investors?

    One conclusion might be that it's not the same SHTF scenario for stock market investors on the day that the market went from down -700 pts to up +2,000 pts in one trading day - a positive stock market swing of 2,700 pts - as it is for precious metals investors.

    Clearly, something else is at work. Either the SHTF scenario is unrelated to the coronavirus, or there is another significant influence affecting both the PM markets and the stock market - in exactly the opposite ways - or both.

    Interesting stuff, eh?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BLUEJAYWAYBLUEJAYWAY Posts: 7,941 ✭✭✭✭✭

    @rte592 said:

    @AUandAG said:
    explain that.

    bob :)

    Yeah explain that BOB :D

    I heard from all 3 of the charmin bears that PMs are out and TP is the new must have for stackers.

    "is the new must have for stackers"- or crappers.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    edited March 15, 2020 5:53AM

    A strong dollar. Can also substitute as toilet paper. Seriously, have you ever wiped with an eagle ?

  • blitzdudeblitzdude Posts: 5,367 ✭✭✭✭✭

    Spring is coming, plenty of oak and maple leaves for wiping.

    Spreading the eagles throughout the bunker for the antimicrobial effects, certainly wouldn't be using them to wipe my backside.

    The whole worlds off its rocker, buy Gold™.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭

    ...as the markets go, so does logic.

  • MilesWaitsMilesWaits Posts: 5,301 ✭✭✭✭✭

    I see APMEX is selling their 1 ounce silver rounds at nearly 3 dollars over spot and Provident easily two dollars over spot.
    Clear me up here but I don’t see that as a “spot plunge” bargain.

    Now riding the swell in PM's and surf.
  • WeissWeiss Posts: 9,935 ✭✭✭✭✭
    edited March 15, 2020 9:00AM

    How much did gold fall vs. the Dow or S&P?

    In the last 30 days, the Dow has dropped 20%.
    In the last 30 days, gold has dropped 4%.

    Here's the 1 year chart for the Dow vs. Gold:

    .

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • AUandAGAUandAG Posts: 24,515 ✭✭✭✭✭

    @Weiss said:
    How much did gold fall vs. the Dow or S&P?

    Add a silver chart, it's down 22%. Was 18.50 now $4 less. My point is/was that the precious metals market has fallen which is the exact opposite of a safe haven scenario. Usually stocks drop and metals rise. Not today and I was wondering why is this not so?

    bob

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • WeissWeiss Posts: 9,935 ✭✭✭✭✭

    @AUandAG said:

    Add a silver chart, it's down 22%. Was 18.50 now $4 less. My point is/was that the precious metals market has fallen which is the exact opposite of a safe haven scenario. Usually stocks drop and metals rise. Not today and I was wondering why is this not so?

    bob

    In the last year, silver is flat. You would have bought a year ago at about $15, and today it is "worth" about $15. You wouldn't have "made money", but you also wouldn't have "lost money". If you'd bought the Dow, you'd have lost 10%.

    But as has been said a zillion times before: we don't hold physical precious metals to "make money". We do so to preserve wealth. Even relative wealth.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • morgansforevermorgansforever Posts: 8,428 ✭✭✭✭✭

    I can't imagine what would happen if the dollar lost all of its purchasing power and the shelves were empty. WalMart at 0800 was what a typical day is like at 1300. No tp, no paper towels, no milk, no eggs, no oj, no bread, no alcohol, no peroxide, no bleach, no hand sanitizer, no hand soap and no Tylenol, it was something like out of a science fiction novel.

    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    they will restock and restock, until their supply chain shuts down.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    How about that. I have yet to get the first margin call on my physical PMs.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭

    Yeah, things have changed in the 'ville, even if we turn off the electronics.

    Schools closed. People talking about it, lots of black gallows humor and whistles past the graveyard. Stores packed, some shelves bare and restaurants mostly empty.

    I get the run on pasta and canned food.. not so much on the paper products.

    Liberty: Parent of Science & Industry

  • bigjpstbigjpst Posts: 3,032 ✭✭✭✭✭
    edited March 15, 2020 8:43PM

    Took this picture last Thursday and by Friday it was sold out even with the store placing limits on purchases. People are ridiculous.

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭

    @bigjpst said:

    Took this picture last Thursday and by Friday it was sold out even with the store placing limits on purchases. People are ridiculous.

    It’s the same people that bought/buying silver and gold bullion...

    keceph `anah
  • mariner67mariner67 Posts: 2,746 ✭✭✭

    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • blitzdudeblitzdude Posts: 5,367 ✭✭✭✭✭

    Just wondering when I start trading my silver coins for loaves of bread will the merchants prefer ms70 eagles or will any ole BU do?

    The whole worlds off its rocker, buy Gold™.

  • zski123zski123 Posts: 256 ✭✭✭

    It's because trading stops are in place so they are selling what they can sell. You can't get out of equities this morning and there are only few options available. It's definitely a "paper" dynamic. You'll be sorry if you sell any physical at these prices.

  • philographerphilographer Posts: 1,310 ✭✭✭✭✭

    Time to start nibbling...stocks and metals. Just a nibble ;)

    He who knows he has enough is rich.

  • jmski52jmski52 Posts: 22,309 ✭✭✭✭✭

    I'm still waiting to find out what's going on. We only know what stage 1 is going to be - a "whatever it takes" liquidity approach by the Fed. That's the financial side. We don't yet know how the virus or the response to the virus is going to turn out on the societal side.

    If this is an engineered psyop, it's working. If not, it's an unpredictable, unforeseen event that could turn out any number of ways. There's some real nervousness in CA about what might be considered martial law. Probably in a few other places as well.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ARCOARCO Posts: 4,305 ✭✭✭✭✭

    @AUandAG said:
    explain that.

    bob :)

    Deflation. Inflation is where there is vastly more money being created than destroyed. Right now, vastly more money is being destroyed than created.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    The "blood bath" continues

    Gold.................-74.30............... -4.86%..$1,456
    Silver.........12.55 -$2.14

    Platinum........ 667.00...... -98.00
    Palladium...... 1460.00.... -238.00
    Rhodium .....7000.00..... -2800.00

    Possible buying opportunities? Or wait until the dust settles.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭

    @mariner67 said:
    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    What? You mean derryb has been wrong this whole time?... unfathomable...

    keceph `anah
  • jmski52jmski52 Posts: 22,309 ✭✭✭✭✭

    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    Dow -10.48% right now

    Gold -4.12%

    We report, you decide.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭

    Psyops

  • tincuptincup Posts: 4,748 ✭✭✭✭✭
    edited March 16, 2020 8:08AM

    Let it run its course... hopefully time to buy coming soon.

    ----- kj
  • taxmadtaxmad Posts: 960 ✭✭✭✭

    @mariner67 said:
    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    Try buying it for the price quoted on Kitco...

  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    edited March 17, 2020 12:26PM

    @mariner67 said:
    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    PMs are insurance when everyone runs FROM cash, not to it. They protect against a failing currency, not a falling stock market. Falling stock markets usually result in other falling assets, re: 2008. Falling stock markets bring a run for cash. Everything is on sale.

    We are not experiencing a fiat currency problem (yet) and the one around the corner will not be resolved. There's still time to buy currency insurance on the cheap.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    @rawteam1 said:

    @mariner67 said:
    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    What? You mean derryb has been wrong this whole time?... unfathomable...

    sold at $18, reloading at $12.

    "unfathomable."

    The decline from democracy to tyranny is both a natural and inevitable one.

  • BAJJERFANBAJJERFAN Posts: 30,977 ✭✭✭✭✭

    @zski123 said:
    It's because trading stops are in place so they are selling what they can sell. You can't get out of equities this morning and there are only few options available. It's definitely a "paper" dynamic. You'll be sorry if you sell any physical at these prices.

    There's big difference between selling at these prices and for these prices.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭

    @jmski52 said:
    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    Dow -10.48% right now

    Gold -4.12%

    We report, you decide.

    30 day DOW down 36%
    30 day gold down 9%

    We report, you decide.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    edited March 16, 2020 8:31AM

    "The Sh*t hits the fan and precious metals falls like rocks..."

    Paper contracts have fallen like a rock.

    The difference between the two?

    And even at higher premiums:

    The decline from democracy to tyranny is both a natural and inevitable one.

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭

    @derryb said:

    @rawteam1 said:

    @mariner67 said:
    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    What? You mean derryb has been wrong this whole time?... unfathomable...

    sold at $18, reloading at $12.

    "unfathomable."

    Lol that it is, you can’t fool me, all your moves are always after the fact, much like Armstrong, always right, always after the fact, everyone wins when they are at the casino also...

    keceph `anah
  • SaorAlbaSaorAlba Posts: 7,466 ✭✭✭✭✭

    That will happen for awhile, people want cash - but wait for what happens next when the cash runs out.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • BaleyBaley Posts: 22,658 ✭✭✭✭✭

    @derryb said:

    @rawteam1 said:

    @mariner67 said:
    Despite all the jawboning excuses here.....sad testimony for PMs being a safe haven insurance policy. Not as many expected or hoped for here.

    What? You mean derryb has been wrong this whole time?... unfathomable...

    sold at $18, reloading at $12.

    "unfathomable."

    You sold your ten thousand ASEs at 18 and bought them back at 12?

    Great move! Coingrats!

    Liberty: Parent of Science & Industry

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭

    The Derryb of Oz...

    keceph `anah
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    edited March 16, 2020 1:03PM

    yes, i made some good moves recently with the physical and with the equities. Don't act like it's so impossible. If you two had your eyes on the ball and not on the cheerleader you could have done the same.

    we need new trolls, these are getting stale.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • johnny9434johnny9434 Posts: 27,412 ✭✭✭✭✭

    @rte592 said:

    @AUandAG said:
    explain that.

    bob :)

    Yeah explain that BOB :D

    I heard from all 3 of the charmin bears that PMs are out and TP is the new must have for stackers.

    The tp company laid them off and they gotta do that now

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭

    @derryb said:
    "The Sh*t hits the fan and precious metals falls like rocks..."

    Paper contracts have fallen like a rock.

    The difference between the two?

    And even at higher premiums:

    That’s because the buyer takes the loser’s loss, making the loser the winner and the buyer the loser...

    keceph `anah
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