PM Downward Slide??
erwindoc
Posts: 5,090 ✭✭✭✭✭
I am not complaining about the slide with silver and gold since I am more of a collector as opposed to a stacker. In fact, it will allow me to buy more gold! What are your thoughts as to why silver and gold are down so much lately with inflation going up?
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Coins ate beginning to become distressed the same as pm . I got dealers calling
PMs are strong to all other investments. People are swallowing everything the Fed tells them.
PMs typically fall at onset of recession. Margin calls. Conversion to cash for safety and any yield as long as interest rates are rising. Gold and silver will rise once the Fed is forced to abandon QT and rate hikes.
I wouldn't want to be in bonds or a bond fund or a fund with a bond component right now. Just sayin'
I knew it would happen.
Will pick some up for food measure (I hope)
The dollar is super strong right now.... PM's down - for now. Hold on, do not panic - the tsunami is building....
Cheers, RickO
Be glad you’re not one of the big boys watching these declines while you wait for locked in deals to arrive in the mail let alone stock on hand. I suppose they can afford it.
It will be glorious when the SHTF
While I try to figure this market out, I think I'll sit on the sidelines for awhile. Looks like a mini bear to me right now. If it pukes into the mid 1700's.....that might be good. If it can't hold that number, look out below.
cash is king. . . till it ain't.
"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
Lots of folk very happy getting 3% -or more on some good ole USA Govt bonds- on 1 year paper right now.
Knowledge is the enemy of fear
Back to the gutter perhaps? RGDS!
The whole worlds off its rocker, buy Gold™.
I-Bonds.... as long as you trust the U.S.A. to not default...
Lots of folk very happy getting 3% -or more on some good ole USA Govt bonds- on 1 year paper right now.
Fabulous! That means they are only losing somewhere between 5% and 15% on their money, depending on whether or not you believe gov.com data.
I knew it would happen.
If the US were to default, it would be the 5th time.
But still, I bonds are probably better than anywhere else to put one's savings right now. There's a reason the limit is $10k per person per year.
7% plus on i-bonds
true you cant get in and out but still
This is not the first time PM's have dipped.... They will recover, and there will be significant future peaks. Relax... If you don't need the cash, don't worry. Cheers, RickO
Speaking of gold and bonds, I recently bought me a gold bond on the internet. A couple days later I received a bottle of medicated body powder in the mail.
The 7% + rate was the previous rate. As of May 1st, I believe it went up to 9.62%. It's true you cannot get in and out immediately. Rates change every 6 months; you cannot cash in until 1 year is up (you can then cash in but have to pay a 1/4 year interest penalty). You normally have to hold for 5? years until you can cash out without the quarter year interest penalty.
But the way one can play it: get your I-bond at 9.62% which will hold for 6 months; at 6 months the interest rate will change again depending on inflation and cost of living. Even if it changed to '0%' (lol,lol.lol), you could hold for the necessary 1 year anniversary, cash out with the quarter year interest penalty, and still have a pretty good return left due to the previous 9.62 rate. Most likely, in 6 months we will still have a high inflation rate and continued high percentage on the I-Bond. One of the few available options to get decent 'short term' rates, and government issued.
You have a short memory....Silver has had a crew cut since 2011....
Down side... you are limited to $10,000 per year (unless you use your income tax return); and you have to trust the U.S. government as to the risk.
@OPA... Sure... but when stacks were accumulated at $4.50 - $6/7 per ounce, one does not consider haircuts like this.... Cheers, RickO
Agree, but what purpose do you have in mind from your gains from 20+ years ago? I'm curious, from you own comments, you have not sold any of your PM's and do not intent to do so. So what are your plans, if any, for your accumulation?
@OPA.... Stacking of PM's is insurance against the dollar.... and obviously has worked. Cheers, RickO
Slide on down. Lap some up.
i honestly hope it craters to 10 bucks an ounce as i am in it for the long haul, maybe premiums will follow. waiting to back the truck up. no offense intended.
yet that 1964 JFK will still buy a gallon of gas. . . and probably always will.
"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
For now....down to 1 gallon. However, you could get 2 or more gallons not that long ago.
It used to be a 1964 Roosevelt would get you a gallon of gas.....perhaps just inflation or maybe just gutter math. lol
The whole worlds off its rocker, buy Gold™.
There has never been enough silver in a thin dime to cover the cost of a gallon of gas and gas has never cost ten cents.
Makin' stuff up again?
"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
yep, every now and then PMs not only keep up with inflation but perform even better.
"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
Unfortunately, that has not been the case with silver over the last 10 years. And it doesn't appear to be in the future.
yet that 64 JFK still buys me a gallon of gas. Appears silver does offer inflation protection.
"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
I'll Look later for the picture.
A friend had a dollar off gas at Fry's promotion.
We filled up about a year ago under a $1.
No lie.
BRANDON could do it again, but he'd blame _ _ _ _ _.
Anyone like wheel of fortune?
Title is
AMERICAN BUSINESS MAN.
However,. you could have purchased 2 gallons last year and up to 10 gallons 11 years ago. I don't consider that "inflation protection"
a gallon of gas for a fifty cent piece? Definitely inflation protection. Those greenbacks protecting ya? 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
I bonds can be sold after five years penalty free. You can get an additional up to $5k in I bonds through your tax return if you are owed money.
Don't forget about TIPS and EE bonds offer through the archaic Treasury direct.gov website.
I just don't understand your logic that silver is an inflation protection when it has lost half its value over the last 10+ years.
You might as well compare 1lb of ribeye stake and come up with the same scenario.
I guess your 64 JFK's don't buy a gallon of gas. 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
They do, but my 1 lb ribeye steak will get me 2+ gallons now.
I don’t think 58 year old ribeyes will do that 🤮
It's been in a "cryonic deep freeze" waiting to be resurrected.
we have devolved into nonsense here
yes gas was once 10 cents a gallon , just watch an episode of andy griffith
sometimes a silver dime is equal to a gallon of gas sometimes its a quarter or a half or a steak or 3 steaks so what?
gas pricing is not related to beef or silver value.
gas is miraculous. a gallon of gas for those of us not jaded is a wonder. It will move my 5000 pound truck with a full cargo load 15 miles in any direction a thing our ancestors couldnt have ever dreamed of
i think gas is underpriced if anything.
gas price is extremely variable though, mainly due to political factors which cant be plotted in any chart
Our ancestors couldn’t dream of your 5000 pound truck and your descendants will also marvel at the fact you used gasoline to move your 5000 pound truck. I have no idea how they will transport long in the future. It’s fascinating what we will never know. People during the roaring 20’s would think your nuts that an oven can cook food without heat. As my doctor dictated instructions into a microphone last time I saw him with and accent and speed I couldn’t tell what he was saying I asked him if that computer really tell what he’s saying. Of course it knew every word. I was amazed thinking how far voice recognition has come and I said just think what computers will be like in 200 years. He said it is beyond our comprehension (like the microwave oven to someone in the 1920’s).
Glorious? It will be misery and despair... why would it be Glorious?
There already people having to choose between eating or affording fuel to work/take kids to school etc?
If the economy shits the bed... there will be nothing glorious about it. There will be death, misery and sorrow.
People losing their homes....
Glorious why? Because you have some pm's and you are hedged? Or
There were a reported 22 suicides from the $LUNA/UST blowup.
If the housing market goes how many?
Diesel fuel goes to 10$ a gallon and then what?
How will people afford to eat?
Please think what it means from a broader perspective for metals to spike.
Hedges are preservation of wealth not growth vehicles.
10k per social # or LLC.
You can put 10k away for each kid and each business you own.
Saw a Rivian parked in front of the shop yesterday. No gas. Quiet as a mouse. 11000 pounds towing capacity. Impressive. RIVN seems a better investment tool than SLV.
Speaking of gas
An unc 64 Kennedy in 1964 got you about two gals of gas. Today, I can sell that Kennedy for $11. About two and a half gals.
Not as good as a couple of years ago but still strong.
I tried selling oats to buy gas but that is a difficult transaction.
I have to admit....Very strong.
OPA
A couple of years ago that Kennedy was $15. Gas was about $2.00
That's Seven and a half gallons of fuel. Now we've seen silver slide and gas rocket up and we're still at two and a half gallons.
It is beyond me how anyone has the audacity to call silver ' gutter'. Clearly talking their book or don't know which end is up. Sell me all the 64 Kennedy halves you have in stock at 18-20x face.
A great time to buy silver if you can manage the stiff premiums.