gold is over 2100 and more then likely no interest rate cuts by the fed this year, due to inflation being over 3 percent, once they do start interest rate cuts, i see gold going over 2200
@pcgscacgold said:
Closed my eyes for a moment and all of a sudden we are making a run for $2100.
@coinpalice said:
gold is over 2100 and more then likely no interest rate cuts by the fed this year, due to inflation being over 3 percent, once they do start interest rate cuts, i see gold going over 2200
Silver has a hard time to break 25. Gold might still have room to go up for the year because while the funds sees outflow in the gld but gold price keeps going up which means central banks are buying.
The two largest gold ETFs based on assets under management, the SPDR Gold Shares (GLD) which began 2024 with $58 billion in AUM, and the iShares Gold Trust (IAU) which started the year with $26 billion, have each experienced net outflows.
From Jan. 11 to Feb. 14, investors pulled roughly $2.6 billion out of GLD and about $507 million out of IAU, according to ETF.com.
Digital sales grew more than 18% compared to a year ago, powered by demand for gold bars, silver, and appliances, Costco CFO Richard Galanti told analysts on a late Thursday conference call.
@jt88 said:
Silver has a hard time to break 25. Gold might still have room to go up for the year because while the funds sees outflow in the gld but gold price keeps going up which means central banks are buying.
The two largest gold ETFs based on assets under management, the SPDR Gold Shares (GLD) which began 2024 with $58 billion in AUM, and the iShares Gold Trust (IAU) which started the year with $26 billion, have each experienced net outflows.
From Jan. 11 to Feb. 14, investors pulled roughly $2.6 billion out of GLD and about $507 million out of IAU, according to ETF.com.
A lot has happened since Feb 14. I'd be kicking myself if I got out of GLD then. Three to seven weeks is an eon in financial market terms. Expect the dollar to continue to weaken and gold to maintain strength.
I think US market as closed today for Good Friday.
Here's a snapshot of 4 metals close from last night. I am considering deleting all but one of my 24k Buffalos when they hit $2300, my goal. Asked my local dealer last week and they no longer pay $100 over spot on 24k Buffalos. Now they pay spot. Silver ASE over spot buy prices were $6 over for years, now they buy at spot.
Palladium is down $2,400 from all time high set two years ago this month.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
@CaptHenway said:
I want to see coins from the 2300's A.D.!!!
Cryogenics may make that possible.
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
When gold moves up this quickly and dramatically, I anticipate a quick and dramatic correction in the other direction. I hope I'm wrong but I don't think so. Am I the only gold buyer here who is sitting on the sidelines until things calm down?
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
@PerryHall That's a good question. The gold coins I buy are not priced off bullion. In many cases AU58's to MS63/64 are going for the same money. I would have a hard time here buying anything under MS64/65 with that pricing pattern.
I am not good at guessing the direction and missed out on many DE's back at $1200 spot because many back then were calling for gold to drop back to $800. Well it never looked back and has now reached this new high.
When gold moves up this quickly and dramatically, I anticipate a quick and dramatic correction in the other direction. I hope I'm wrong but I don't think so. Am I the only gold buyer here who is sitting on the sidelines until things calm down?
I always sell into strength and buy weakness. I don't like to hold for long period of times. There's not enough upside except one blow off top every 20 years or so.
Some analysts now predict gold will hit 3k if the fed will cut rate. That’s a big if. I think the market start to think the fed will not cut rate this year. We shall see.
When gold moves up this quickly and dramatically, I anticipate a quick and dramatic correction in the other direction. I hope I'm wrong but I don't think so. Am I the only gold buyer here who is sitting on the sidelines until things calm down?
@jt88 said:
Costco selling 200 million gold bar and silver coin per month.
I guess people are not sitting on the sidelines. They sell at 2% markup (according to the post I saw on CNBC).
no, you are correct. Chinese are flipping gold now in China while the government increased its gold reserves for the 17th straight month in March, according to available data for that month published by the World Gold Council.
I was sort of on the sidelines in 2019 when gold was $1200/oz... but at least I managed to snag a $5 Liberty and a $2.5 Indian (both AU58) at just a shade over spot. I did buy gold fairly recently (@ $2150) but opted for higher graded material (MS65 $20 Saint) and an older PCGS holder for the other (MS62 $10 Indian). I've just about covered the premium I paid over spot... for an MS65! I probably overpaid for the $10 Indian, they've always tended to get more for numismatic value... but... these aren't those times.
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
Comments
GOLD $2,028.22 (+10.14)
We've been here before.
Resisting the drop to below $2,000 and getting close to that $2,050 level again.
GOLD $2,035.43 (+10.97)
Not a bad place to park for the weekend.
GOLD $2,045.37 (+10.87)
Almost there at $2,050.
GOLD $2,084.75 (+40.50)
Just one day later ......
Wow - wasn't expecting that!
GOLD $2,082.64 (+38.39)
One week later and even a better place to park for the weekend.
Closed my eyes for a moment and all of a sudden we are making a run for $2100.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
gold is over 2100 and more then likely no interest rate cuts by the fed this year, due to inflation being over 3 percent, once they do start interest rate cuts, i see gold going over 2200
GOLD $2,131.27 (+16.88)
And climbing!
Anyone have a shot of the new George Jetson quarter?
Fun times here. Seeing $2170 this morning. Pulling for $2200.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Silver has a hard time to break 25. Gold might still have room to go up for the year because while the funds sees outflow in the gld but gold price keeps going up which means central banks are buying.
The two largest gold ETFs based on assets under management, the SPDR Gold Shares (GLD) which began 2024 with $58 billion in AUM, and the iShares Gold Trust (IAU) which started the year with $26 billion, have each experienced net outflows.
From Jan. 11 to Feb. 14, investors pulled roughly $2.6 billion out of GLD and about $507 million out of IAU, according to ETF.com.
Costco gold bar sales help the bottom line.
Digital sales grew more than 18% compared to a year ago, powered by demand for gold bars, silver, and appliances, Costco CFO Richard Galanti told analysts on a late Thursday conference call.
A lot has happened since Feb 14. I'd be kicking myself if I got out of GLD then. Three to seven weeks is an eon in financial market terms. Expect the dollar to continue to weaken and gold to maintain strength.
Mark
GOLD $2,178.83 (+18.75)
As we head into another weekend.
Silver moved to 25 today. Let’s see if it can stay there. 25 looks like a major blocker.
C’mon man!
It will break 2300 for the year
Go hard Gold, go hard!
Sitting at $2241 CNBC COMEX Jun24 and $2223 at MyCollect. Keep it up GLD.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Fresh high this morning. Seeing $2254.80 for June 24 COMEX. APMEX showing $2247. Come on $2300!!
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I think US market as closed today for Good Friday.
Here's a snapshot of 4 metals close from last night. I am considering deleting all but one of my 24k Buffalos when they hit $2300, my goal. Asked my local dealer last week and they no longer pay $100 over spot on 24k Buffalos. Now they pay spot. Silver ASE over spot buy prices were $6 over for years, now they buy at spot.
Palladium is down $2,400 from all time high set two years ago this month.
Gold is on the move tonight. Jun24 COMEX showing $2262.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Silver moved back above 25 now after back and forth many times. I hope it can stay there and move up,
Gold at $2277 has a nice ring to it this morning. Silver doing well too.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
June 24 COMEX sitting at $2316 and silver at $27. Looks like we hit your $2300 a few months early.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Soooo strong, Fuerte.
Posting some one ounce gold, now:
It will break 2300 tomorrow then it might back down in few days. One thing for sure is it will hit 3000 a lot faster than hitting 2000.
And staying over $2,300
GOLD $2,300.21 (+0.29)
It break 2300 a lot faster than I thought. We might see 3k next year.
I like how you think. Just checked and saw $2346.50. Silver doing well too at $27.50.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Loving the Bullion!
Beautiful @MilesWaits
One of my all time favorite designs.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I want to see coins from the 2300's A.D.!!!
Cryogenics may make that possible.
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
Ask DCarr. He's made a 2109-S Lincoln Cent.
fka renman95, Sep 2005, 7,000 posts
GOLD $2,329.96 (+38.81)
And locked for the weekend.
When gold moves up this quickly and dramatically, I anticipate a quick and dramatic correction in the other direction. I hope I'm wrong but I don't think so. Am I the only gold buyer here who is sitting on the sidelines until things calm down?
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
@PerryHall That's a good question. The gold coins I buy are not priced off bullion. In many cases AU58's to MS63/64 are going for the same money. I would have a hard time here buying anything under MS64/65 with that pricing pattern.
I am not good at guessing the direction and missed out on many DE's back at $1200 spot because many back then were calling for gold to drop back to $800. Well it never looked back and has now reached this new high.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I always sell into strength and buy weakness. I don't like to hold for long period of times. There's not enough upside except one blow off top every 20 years or so.
Some analysts now predict gold will hit 3k if the fed will cut rate. That’s a big if. I think the market start to think the fed will not cut rate this year. We shall see.
Some even predicted gold will go as high as to 3600 to 4k.
GOLD $2,353.29 (+14.13)
Looks like the hope to be wrong was granted.
Shorts will be forced to cover soon.
$2375/$2394 depending on site viewed. Maybe Friday can bring $2400.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Costco selling 200 million gold bar and silver coin per month.
I guess people are not sitting on the sidelines. They sell at 2% markup (according to the post I saw on CNBC).
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
no, you are correct. Chinese are flipping gold now in China while the government increased its gold reserves for the 17th straight month in March, according to available data for that month published by the World Gold Council.
I was sort of on the sidelines in 2019 when gold was $1200/oz... but at least I managed to snag a $5 Liberty and a $2.5 Indian (both AU58) at just a shade over spot. I did buy gold fairly recently (@ $2150) but opted for higher graded material (MS65 $20 Saint) and an older PCGS holder for the other (MS62 $10 Indian). I've just about covered the premium I paid over spot... for an MS65! I probably overpaid for the $10 Indian, they've always tended to get more for numismatic value... but... these aren't those times.
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
Just cause, why not!?