Gold up over 3% on war news. Will it continue to climb over $2k? Common dates should get a boost.
Goldbully
Posts: 17,562 ✭✭✭✭✭
Should give a nice kick to your common date gold coin values.
1
Comments
yes is my guess
If war doesn't keep gold rising, the continuing high inflation rate which shows no sign of abating most certainly will.
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
Stackers will be smiling for a while..... maybe a long while.... Cheers, RickO
Remember folks, your gold isn't really worth more, your dollar is just worth less.
2022 Gold Eagles due March 17th......
It will be going higher no doubt for some time during these sad times. Personally, I'm about to suspend buying any expensive coin for the foreseeable future.
$25.68 & $1965. Yippee 🥳
🎶 shout shout, let it all out 🎶
While that’s true given the inflationary environment, it isn’t true today in particular. Gold is up against the EUR too.
Good news! Your gold is now up to over $100k an ounce!!!
Bad news: the world has been destroyed, you can only buy juicy grubs to eat with it.
I don't mind gold and sliver rising in price, but I don't think stability can be overrated either. Be careful on what you wish for.
10-4,
My Instagram picturesErik
My registry sets
Yes, I would say that $2,000 gold is in our future. The good news for me is that I have many gold coins. The bad news for me is that most of them are numismatic pieces. I should have bought more St. Gaudens $20s.
Tis was but a FLEETING MOMENT. I have my doubts, that we see $2k gold any time soon. $25 silver seems to be a "short lived wish." It's been there before, numerous times, in the last 10 years.
Indeed. Gold now down $75 from its overnight peak. Down to $1897 as I type
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Both getting smashed!! Dang!
Just like usual - Gold goes up a bit and the hope for $2000/ounce is all the rage. Then it goes back down and all you hear is crickets again.
"When they can't find anything wrong with you, they create it!"
I think we are seeing that the risk of war was already built into the price of gold and the equity markets.
In many past geopolitical events, markets have been shown to be wiser than the pundits.
prices will be very volatile for a while, enjoy the ride
The Russian stock market is down over 33% today. The ruble at an all time low. The US stock market is in rally mode today. Interesting times
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Global isolation will do that.
I, for one, an secretly cheering for $1750 gold and $18 silver.
Bad way to keep a secret
I own my fair share of both. Gold both paper and physical I treat as asset insurance. Silver as purely speculative.
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Could the central banks be dumping gold on the market to push down the price? It's been done before.
It's an open secret. Lol
Metals right back down today and even below what they started at a few days back. Only comment: try to buy physical silver at the spot price. The reality is silver is being valued in physical form at 30-35% above the published spot price.
It keeps dropping. The last I looked, less than an hour ago, it was below $1,900. Maybe the Russian take-over has been worked into the market?
@Schmitz7 said: try to buy physical silver at the spot price. The reality is silver is being valued in physical form at 30-35% above the published spot price.
This has been discussed at length on the precious metals forum. If you want to buy silver in small units there is a large premium over spot. If you want to make major investments, you can get as much as you want (in 1000 ounce units) for very close to spot.
This. There is NO premium to spot on silver. There is a premium to spot based on the form of silver.
You can buy silver right at spot if you buy a 5000 ounce COMEX contract and opt to receive delivery. If you want it minted into small bars or silver eagles, you're going to have to pay for the cost of forming it.
A number of financial analysts believe this to be true. There is also some thought that the market thought that the sanction response was going to be more severe. in the end, they didn't sanction energy or food which mitigates the pain of those sanctions.
There is also some thought that it may change the calculation of the FED at the March meeting.
So, expect the next move to be in either direction. LOL. The market is largely guessing at the future, as it usually does, but the visibility is murkier than it usually is.
Here we go again....up almost 2%
Silver up over 3½%
Can you say Putin?
Gold is reasserting itself as the safest of safe havens.
Interesting to see after the economic data next week what happens to generic premiums.
You guys suck.
Children and old folks are being killed. Stupid young men are being sent to die by a midget oligarch.
But you cheer because your silver is up 3 1/2 percent.
Seriously, you guys need to look at yourselves and decide if your worthless lives deserve to continue to consume oxygen.
It is a finite resource that shouldn't be wasted on war profiteers.
Wow! No one here is happy with what going on in the world. They're just happy that they were smart enough to buy insurance (gold) against the destruction of their money (inflation) due to the incompetence of our leaders. Gold is not increasing in value as much as the value of the dollar is falling.
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
That's a little harsh but I do find it unseemly to be cheering a war premium.
They will feel less smart when it disappears.
The murderous aggression we are witnessing is certainly distressing. That being said, it is not the only reason, nor the primary reason, for the increase in PM values. The dollar is crashing, therefore, intelligent people will have satisfaction viewing the increased value of their gold insurance. While their is physical war being waged beyond our borders, their is financial war being experienced here. We must tend to our immediate needs. Cheers, RickO
Good point. Most of the recent price rise of gold occurred before the invasion of Ukraine and was mostly caused by the rapidly rising inflation rate caused by the current administration's economic policies.
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
I think you give a little too much credit to the current admin. The easy money and deficit spending goes back more then just a year or two. Higher gold prices have been brewing for years. I can't wait to see how we handle 4-5% interest rates with the current deficit.
People complaining about high gas prices or drops in their retirement accounts are the real people oblivious to what is going on in the Ukraine.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$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
The price of gas seems to be more steadily climbing than gold in the past ten days
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
Gold really isn't up that much as a percentage. $100 is just 5%. Gold is up $160 in 30 days which is less than 10%. Oil, on the other hand, is up 20%.
Gold bugs are like gamblers. They only remember the wins. In the last year, gold is up to 16% and the stock market (S&P 500) is up 18%.
OK but gold is trending up and the S&P is trending down.
I have a generic auction ending Sunday to test to the market.
So we'll gauge current sentiment.
That's why we're hearing from the gold bugs now. When gold pulls back, it's all very quiet here. Look at the "1850" thread. That started a year ago and it was very quiet when gold was in the 17s.
And that's how it will be here again when the stock market levels/gains and the price of gold will drop back.
Say I make a few hundred selling a gold coin - how is that relevant to spending so much more for gas and food (everything) right now?? Gold will probably go back down but food and gas will keep rising - I'm thinking Even Steven reappears........
And really, how many amature gold stackers are going to drop all their gold right now for a profit when there's so much uncertainty going on ??
(not my absolute view - just a discussion point)
"When they can't find anything wrong with you, they create it!"
I think that's true.
At this point, $10 away from $2k.
Numismatic premiums often shrink when precious metal prices go up.
Gold price to hit $2,150 as Russia escalates war in Ukraine
https://www.kitco.com/news/2022-03-05/Gold-price-to-hit-2-150-as-Russia-escalates-war-in-Ukraine.html?sitetype=fullsite
Is this any correlation to what BOA was taking about in 2020?
https://www.kitco.com/news/2020-04-21/Bank-of-America-calling-for-3-000-gold-in-18-months.html
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
With all that's going on, there aren't too many people out there who regret their precious metals purchases, regardless of when they bought. The swings are all part of the process.
I just checked. Gold is up to $1,990. The $2,000 price is coming.
How is gold doing compared to the Russian stock market?
The reason to buy gold is not necessarily to get the highest return. It is a way to diversify your assets.
And if you buy Pre-33 gold coinage you can get some really neat looking coins as you diversify.
Successful BST with drddm, BustDMs, Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino
$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
At the time of this post, equity markets down, commodity/overseas volatility plus crypto scuffling/regulation uncertainty... gold is the safest of safe havens.
Some sleepless nights ahead for Wall Street