Alert: I’m officially calling a top in GOLD, on 7/30/2020. $1972.00
Dave99B
Posts: 8,550 ✭✭✭✭✭
$1972
Sold a bunch today, you know, because, well...it’s a top.
Thanks,
Dave
Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
3
Comments
Is it true the 1/10 ouncers make your hand look bigger?
How close to the top did you get?
So, BRC (or their IRC branch), Renton, or Redmond?
Or, online?
If local, how did you choose and, since it seems you were fine with the deal, did you feel happy about it or just accept it?
Just wondering (I just sold 1.5 ounces Tuesday to a friend who wanted to diversify a little. Gave him a bit under my BST price (a PCGS MS69 30th Annv 1/2oz and a NGC ER MS70 1oz). I knew, locally, they wouldn't care that much and I really didn't charge him much for the holders because of that. Just the normal premium for the bullion right now.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Not anywhere close to a top IMO, just a little consolidation before the big push north of $2K.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
1991 at 6am today. Now 1987.
I believe you get three tries before the crystal ball committee comes after you.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
AU/AG are dipping right now (09:30).....and stocks will likely go positive ....not sure what the end of the day will bring... perhaps a Friday bump. Cheers, RickO
bought the dip, AGQ. Do I get three tries?
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Bellevue Rare Coin (Bellevue location). Very busy when I walked in, and I had to wait. Lots of people appeared to be selling 90%. I was offered $1940 each for the 17 Rands. $32,800 total. Very simple transaction. I sort of thought they might weigh each coin. Nope, They just looked at each side, said ‘looks good’, and printed up a check.
Gold was down about $15 when I sold them. Of course, by the time I got home, it was up $9. Arg!
Stay safe!
Dave
@Dave99B If you don't mind me asking what is your endgame for that $30k+ now that you have cash? The US is currently in a recession and the defaults are just beginning to ramp up, I see more economic turmoil in the future. I personally think metals have another 25%+ to go before leveling off, but I'm also beginning to bet against the equity markets, I think the "V" recover is going to quickly turn into a "W" with another big sell off.
Why bet against the equity markets? Doncha know that when the COVID scare is over, everyone's gonna get rehired, get big raises and the stores will all reopen and America will rush to the mall?
@ShadyDave - Honestly, I'm not much of a gold bug. I just decided to ring the register. I'd paid $1200-$1300 for most of this stack, so I figured I'd take a profit. I'll be a buyer again under $1500, should it drift back down.
Dave
selling is fine now if what you sold is less then 10 percent of what you own, i myself am holding too many depreciating dollars already, real estate is a good venue, i don't see gold going down to 1,500 ever again
That's what they say every time!
Probably this time is different though
😉
Liberty: Parent of Science & Industry
Who can know when it is a good time to sell the stack? I once sold a 8x stock and it doubled after that. I'm still reminded of that.
Selling , buying and trading is a good gig. But metal is still sharp as it is heavy and can cut deep.
You mean like when the extremes (i.e TSA making me take off my smelly shoes) of the Patriot Act went away? lol
Never let a good crisis go to waste, especially when it provides permanent change that you would not otherwise be able to sell.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Taking "profit" in physical metal doesn't make much sense if one is just going to let the cash depreciate. I sell only because I see a temporary dip or I need the cash for a purchase. Gold is my savings account that pays a hidden interest that equals the loss of purchasing power of the dollars that are in the account.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@ShadyDave
Didn’t say I was putting the check in the drawer to collect dust!
Dave
Been thinking about this thread lately
He who knows he has enough is rich.
I invested 25,000 in AIG at ~89 cents. Got rid of them for something else and they were selling for ~89 bucks less than a year later.
https://www.cnbc.com/id/32865451
Gold is now less than $4 from your call of the "top".
I knew it would happen.
i think it will be 2,275 by January 1st 2021, and top out at 3,200
Gold went almost $100 over his top since he made the call but who's counting.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Some gold eagles on Ebay are selling for the same price as they were when it was 2100. Those pricetags seem to have stuck for a lot of things. As gold dropped $200, maples climbed even higher. When silver stagnated Australian silver skyrocketed. Proofs have exploded and krugerrands are disappearing. Be ready to pay. Philharmonic are back down to meltyish and pandas got a little higher.
You guys need to sell all your gold so I can buy it all. I agree with OP and encourage you all to sell sell sell even if you gotta take a big loss.. just get it done asap, and preferably do it all at once, tomorrow or now whichever is best for you.
There are dozens of SHTF situations happening in dozens of places around the world that people said would be a game changer for gold. The list keeps growing longer and gold goes down? How does it go down at a time like this?
I mean for real guys rewind yourselves 18 months. Pick 3 suck things happening now. Okay, what will gold and silver do if even one of those happens? How much would you buy if you knew this in 2015? And no, this isnt hindsight being 20/20 it's called being honest with yourself while enjoying critical thinking and self reflection.
Silver eagle pf69 on Ebay in silly plastic have been fetching $75-$90. Theyll be 100 soon like wedge tails that brought their Krugerrand friends along with them. I expect that sphere to hit 150 first. Itll be the maples, UK and CAN pieces that champion this market forward. SP70 limited edition ANACS are even generally $75.
But what do I know right it's just another week with me calling the prices on this stuff for 7-14 days out but boomers here would rather joke about post length. It's not like its 8 times in a row or anything, almost like it's not just chance or luck.
The $35 raw milk spotty maples are happening. We blew past $50 ms70 silver eagles and that was me the other day not even the other week. We will see $75 ms70 soon enough. Some are only 5 bucks away. We will see 50 silver maples before we see 50 silver eagles, but we will see both in 2 weeks.
If you guys remind me in 14 days and I'm wrong I'll hold a contest and give some silver away.
I'm 100% serious about free silver (I will be holding a contest either way. It's the least I can do after all this time.)
But, in either case, I'm gonna be super right again.
There are dozens of SHTF situations happening in dozens of places around the world that people said would be a game changer for gold
What situations are happening today that havent happened before?
Knowledge is the enemy of fear
Oh man, I dont know how to answer this without getting banned or inciting /inviting discussion that gets people banned.
Uh, I guess the best approach, then is to acknowledge they exist but not discuss? Oof. Someone please msg me or tag me if this needs to come down.
Check Ag[riculture] sites for how your local crop is, reference energy sites for how much your car is gonna cost to run, look at prices on Amazon, now look at how expensive everything got everywhere else too, please check natural disasters in the following states: OR (just started today in Medford yay!), LA, CA, TX, FL, check your local infrastructure (power bridges highways). Look at India today. Look at PNW USA today. Sw USA. Midwest USA. Southeast and west USA.. new England. WI, WA. Poor California, again. All of these happening during the current public health issue is a very unique thing.
UPS and FedEx have had double their christmas volume every day since Nov 2019 and are on their very last breaths. That's not good.
Weather is breaking more records than it ever has before. A temperate rain forest and tropical rain forest with the area of the US have been on fire since last year. A patch of scorched earth larger than NH burned in less than half a day. Storms like Laura are being normalized.
Louisiana just had 20 foot storm surges in the middle of this current health issue. Haven't seen that before. Six water spouts in the gulf were spotted tear-assing through oil refineries together. That's a big "not supposed to happen", just like these storms and perpetual fires in rainforests. California had an unheard of number of lightning strikes (thousands and thousands more than usual) which sparked these wildfires. A derecho laid waste to the corn in IA.
I'd recommend finding people in the middle east, Asia, south America, island nations, and ask people how they are doing, honestly, and what is going on in their communities. You can monitor subreddits like r/portland, r/oregon, r/pnw but for every other region in the US and world.
Look at what France and Italy are going through and I dont mean current health events.
Some smaller island nations might just not come back. Greece and their money problems, back then, but also now, and a few years ago. Kazakhstan. Turkey and their failed currency. My people are tearing each other apart.
There is a lot of suffering right now that is being amplified by current events. I think back to 2012 and people were making up all sorts of fantasies about how the world was gonna end and how rich they'd be, how stupid we were to have pulled out of a waning market.
Now, some of those things are happening after they were wrong for about a decade, and I've seen these very same people saying now is a bad time to get it, its fake, things will fix soon, metals arent worth anything. Historic highs mean nothing. Reality means nothing. The numbers in front of them mean nothing. I still try to wrap my head around how that behavior could even exist in the first place. Oppositional defiant disorder?
But again, I encourage everyone here not to listen to me.
Ok. Thanks for your answer. Its what i expected.
BTW--What is a Cat L storm? At first i thought it was a typo but since you wrote it twice, im now curious.
Knowledge is the enemy of fear
Tbh, I keep seeing it used too and figured I'm the idiot who doesnt know. Its probably idiots reusing the wrong thing, as Laura is our L storm and why it has its name. I'm just following in their footsteps :-( I'm changing it in my other post tho, if something seems odd to someone else. Thanks.
The new range will be between 2200 and 2400 in the months to come.
Anyone else been wondering about colloidal gold and test kits? Every rapid test kit that I've found uses it (immunochromatography). Whether they're a prevalent thing now or not, rapid test kits are gonna be a big damn deal in the years to come. People are already paying hundreds more for quicker results. Some labs are specialising their testing in exactly that.
I only ask because in March/April I was inundated with articles about how gold would perform poorly, how our money was safe in banks, how the economy would keep humming, and how we could make plenty of this stuff the world over and there would never be shortages.