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Anybody else think that maybe Gold and Silver is moving up to fast (BUBBLE) ??

Mike59Mike59 Posts: 319 ✭✭✭

As a many year buyer of gold and Silver coins, bars, ASE's and AGE's I want the PM's to move up. Im just concerned that if PM's move to far to fast and the people that "have to have at any price" start piling in. Im thinking watch out below. I hope that it dosent happen this time. PM's havent felt this good since the early 2010's. What do you think??

MIKE B.

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Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Gold is knocking on $2000 as we speak...Not sure what caused this sudden rise, but there it is. Buyers are already piling in....Cheers, RickO

  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 4, 2020 8:21AM

    dollar destruction has escalated as has knowledge of it. Gold/silver will get hammered shortly, but not for long.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • johnny9434johnny9434 Posts: 28,267 ✭✭✭✭✭

    @ricko said:
    Gold is knocking on $2000 as we speak...Not sure what caused this sudden rise, but there it is. Buyers are already piling in....Cheers, RickO

    $2012 as of about ten minutes ago

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @johnny9434.... Not on Kitco, which market are you watching?? Cheers, RickO

  • johnny9434johnny9434 Posts: 28,267 ✭✭✭✭✭

    that was at a quick glance off of yahoo finance

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    Wait til the Robinhood kids figure out they can buy SLV or GLD on the platform. Currently only 36,101 accounts hold GLD and 25,462 holders of SLV. MSFT is quite popular, held in over 629,000 accounts.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    @ricko said:
    @johnny9434.... Not on Kitco, which market are you watching?? Cheers, RickO

    likely futures

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • johnny9434johnny9434 Posts: 28,267 ✭✭✭✭✭

    very well could be

  • tincuptincup Posts: 5,110 ✭✭✭✭✭

    With coronavirus and this economy... we are in unprecedented times. So.... how will metals react? Beats me.

    But I have always viewed precious metals as an insurance policy, and as diversification in one's investments. With that type of view, day to day gains or losses are not as urgent as for those who tend to play the metals for short or mid term profits.

    But of coarse anyone who holds metals does not want to see large drops! If metals lost half their value... I would view that as an excellent buying opportunity to add even more diversification!

    ----- kj
  • maplemanmapleman Posts: 1,052 ✭✭✭✭✭

    Apmex 2008 last.

  • OPAOPA Posts: 17,118 ✭✭✭✭✭

    Kitco...almost

    Low/High..... 1968.80 /........ 1999.80

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,118 ✭✭✭✭✭

    @derryb said:
    dollar destruction has escalated as has knowledge of it. Gold/silver will get hammered shortly, but not for long.

    "Gold/silver will get hammered shortly, but not for long" I hope it's not a repeat of 2011. It took 8 + years for gold, silver still has a long way to go.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    Cue the confetti:

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭

    December is the active futires month....$2016.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    Not worried.

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭

    Gold ran up "too fast" in 2004 and 2008. Eventually went quite a bit higher. If those run patterns play out gold can go to $2250/$2350 by end of year.

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • MilesWaitsMilesWaits Posts: 5,338 ✭✭✭✭✭

    We are in uncharted shark infested salty financial water.
    Seriously, what is not possible?
    As Derry, noted, Hammer Time.

    Now riding the swell in PM's and surf.
  • maplemanmapleman Posts: 1,052 ✭✭✭✭✭

    @MilesWaits said:
    We are in uncharted shark infested salty financial water.
    Seriously, what is not possible?
    As Derry, noted, Hammer Time.

    Agreed but I'm thinking it could be time for a partial au liquidation hold the balance on spec... Decisions decisions....

  • Wolf359Wolf359 Posts: 7,656 ✭✭✭

    @Mike59 said:
    As a many year buyer of gold and Silver coins, bars, ASE's and AGE's I want the PM's to move up. Im just concerned that if PM's move to far to fast and the people that "have to have at any price" start piling in. Im thinking watch out below. I hope that it dosent happen this time. PM's havent felt this good since the early 2010's. What do you think??

    Bitcoin was just over $11,000. Electrons on a spreadsheet. Totally worthless!

    No, 150 years of price manipulation will be ending. How can this be too fast to move to the price it should be?

  • s4nys4ny Posts: 1,568 ✭✭✭

    Be careful of thinking something has run too fast. Momentum is a very strong characteristic in any market. Players will pile on and the trend should continue.

  • OPAOPA Posts: 17,118 ✭✭✭✭✭

    I'm cautiously optimistic for the short term prospect. But history has a way of repeating itself and I remember 2011 all to well. Same bravado's in PM circles B)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • SurfinxHISurfinxHI Posts: 2,442 ✭✭✭✭✭

    anyone think the dollar moving in a downward trajectory = metals get more expensive?

    Dead people tell interesting tales.
  • Mike59Mike59 Posts: 319 ✭✭✭

    @Wolf359 said:

    @Mike59 said:
    As a many year buyer of gold and Silver coins, bars, ASE's and AGE's I want the PM's to move up. Im just concerned that if PM's move to far to fast and the people that "have to have at any price" start piling in. Im thinking watch out below. I hope that it dosent happen this time. PM's havent felt this good since the early 2010's. What do you think??

    Bitcoin was just over $11,000. Electrons on a spreadsheet. Totally worthless!

    No, 150 years of price manipulation will be ending. How can this be too fast to move to the price it should be?

    Yes you are correct and I Agree BUT we have played this tune before and PM have always given it ( Silver more so than gold) back. There is an old expression "From your mouth to gods ear" . I have not sold an ounce so lets hope you are correct.

    MIKE B.

  • WingsruleWingsrule Posts: 3,009 ✭✭✭✭

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    What's running too fast is the destruction of the United States. :'(
    Gold simply reflects that.

  • maplemanmapleman Posts: 1,052 ✭✭✭✭✭

    2027 apmex ask now

  • DoubleEagle59DoubleEagle59 Posts: 8,296 ✭✭✭✭✭

    Yes, moving up too fast, but no, not a bubble.

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    Nowhere near bubble phase. She will get there no doubt but Joe the plumber isn't even out looking for gold yet. Still early in the cycle. IMO

  • PerryHallPerryHall Posts: 46,084 ✭✭✭✭✭

    When something goes up this fast, I expect a correction to follow. :/

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • JimnightJimnight Posts: 10,846 ✭✭✭✭✭

    @PerryHall said:
    When something goes up this fast, I expect a correction to follow. :/

    You know what I think ... the main correction come with a vaccine.

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    Won't be in a bubble until the FED prints money to buy it.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • PerryHallPerryHall Posts: 46,084 ✭✭✭✭✭

    @Baley said:

    @topstuf said:
    What's running too fast is the destruction of the United States. :'(
    Gold simply reflects that.

    What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

    Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

    Turning a thread political will get a thread shut down by the mods and may result in a few people getting a time out or even being banned. You have been warned.

    P.S.---I'd hate to lose any of you guys.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • jmlanzafjmlanzaf Posts: 33,918 ✭✭✭✭✭

    @PerryHall said:

    @Baley said:

    @topstuf said:
    What's running too fast is the destruction of the United States. :'(
    Gold simply reflects that.

    What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

    Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

    Turning a thread political will get a thread shut down by the mods and may result in a few people getting a time out or even being banned. You have been warned.

    P.S.---I'd hate to lose any of you guys.

    half of this thread has been political

  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 4, 2020 5:22PM

    @Baley said:

    @topstuf said:
    What's running too fast is the destruction of the United States. :'(
    Gold simply reflects that.

    What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

    Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

    What's funny is gold is suddenly telling us that all those warnings about FED mis-management and the coming dollar crisis were based on fact and those that laughed at them didn't get the last laugh. lol

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    Expect much larger price swings with both gold and silver. As price increases so will the volatility.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭

    @Baley said:

    @topstuf said:
    What's running too fast is the destruction of the United States. :'(
    Gold simply reflects that.

    What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

    Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

    Mostly. I like that.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭

    @derryb said:

    @Baley said:

    @topstuf said:
    What's running too fast is the destruction of the United States. :'(
    Gold simply reflects that.

    What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

    Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

    What's funny is gold is suddenly telling us that all those warnings about FED mis-management and the coming dollar crisis were based on fact and those that laughed at them didn't get the last laugh. lol

    Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭

    @derryb said:
    Expect much larger price swings with both gold and silver. As price increases so will the volatility.

    And the rhetoric. Good to be a trader, eh derryb?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    @cohodk said:

    @derryb said:
    Expect much larger price swings with both gold and silver. As price increases so will the volatility.

    And the rhetoric. Good to be a trader, eh derryb?

    better to not be you, eh?

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 4, 2020 6:20PM

    @cohodk said:

    Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

    But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

    you can't just create wealth from a printing press

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭

    Gotta look at as if a guy went to a bank with a scaled down equivalent of the United States' financial condition, the bank wouldn't lend him a nickel.
    :/

  • bigjpstbigjpst Posts: 3,097 ✭✭✭✭✭

    @blitzdude said:
    Nowhere near bubble phase. She will get there no doubt but Joe the plumber isn't even out looking for gold yet. Still early in the cycle. IMO

    They’ve jumped straight to platinum and palladium. The amount of Catalytic converters stolen(sawed off)at the grocery store here in town is rising. Had one customer and one co worker experience that drama last week.

    The local Morning news did an interview with a coin dealer in town last week. Spent the spot showing off silver bars and monster boxes and talking about how silver is flying off the shelves.

  • BochimanBochiman Posts: 25,375 ✭✭✭✭✭

    I was "interviewing" a new financial dude today, that wants my business.
    He was telling he, personally, is buying some gold right now, and has been, due to all the bailout money and more to come. He is still the hell away from the electronic PMs and going for gold in hand. Let the "uninformed" worry about the stock ETFs for PMs he said and buy physical.

    I laughed because that's what many here have been saying for years now.

    The bigger financial guys are worried about all the influx of "newly printed" money and see gold going up a bit more, with maybe a temporary pull back.

    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

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭

    @topstuf said:
    Gotta look at as if a guy went to a bank with a scaled down equivalent of the United States' financial condition, the bank wouldn't lend him a nickel.
    :/

    And that's called reductio ad absurdum I guess we're ginna set em up and shoot em down tonight?

    Liberty: Parent of Science & Industry

  • cohodkcohodk Posts: 19,070 ✭✭✭✭✭

    @derryb said:

    @cohodk said:

    Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

    But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

    you can't just create wealth from a printing press

    I believe you are saying that you and your RUSSIAN BOT ZH have been wrong, wrong, wrong, and its taken $12 trillion--which more than the entire value of all the gold ever mined-- just to get gold back to the value of nearly a decade ago, and silver back to where it was in 2013, 2008, 1980.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,774 ✭✭✭✭✭

    @cohodk said:

    @derryb said:

    @cohodk said:

    Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

    But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

    you can't just create wealth from a printing press

    I believe you are saying that you and your RUSSIAN BOT ZH have been wrong, wrong, wrong, and its taken $12 trillion--which more than the entire value of all the gold ever mined-- just to get gold back to the value of nearly a decade ago, and silver back to where it was in 2013, 2008, 1980.

    yet all these trillions later and your FED can't get the economy back to where it was 20 years ago. lol

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭
    edited August 5, 2020 3:28AM

    @cohodk said:

    @derryb said:

    @cohodk said:

    Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

    But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

    you can't just create wealth from a printing press

    I believe you are saying that you and your RUSSIAN BOT ZH have been wrong, wrong, wrong,

    Bulgarian bots actually:

    Owner ABC Media Limited (Bulgaria) :joy:

  • derrybderryb Posts: 36,774 ✭✭✭✭✭
    edited August 5, 2020 5:59AM

    kinda strange that Bulgarian news is more accurate at reporting US financial news than is US news.

    That in itself should tell you something about the reality of US news.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • MsMorrisineMsMorrisine Posts: 32,984 ✭✭✭✭✭

    I think they are moving up too fast.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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