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Big spike on Gold in the past few minutes

Successful BST transactions (as a buyer) with @ArchStanton, @JGnumismatics, @r00kies101, @derryb, @76collector, @Pachucko, @brendanlam, @Coll3ctor. I am looking for fractional gold Krugerrands, by year: 0.5oz: 2014, 2020, 2023 | 0.25oz: 1992, 1994, 2002, 2020, 2023 | 0.10oz: 1990, 1992, 1994, 2010, 2020-2021

Comments

  • pcgscacgoldpcgscacgold Posts: 2,594 ✭✭✭✭✭

    Held the spike all day. Even went a bit higher. Nice to see silver back above $21.

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    @pcgscacgold said:
    Held the spike all day. Even went a bit higher. Nice to see silver back above $21.

    don't tell guttermouth, I hate to see a grown man cry.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,748 ✭✭✭✭✭

    The gutter is sill higher than the hedge. And the hedge is where it's at. :joy:
    Like a good neighbor. Keep the hedge trimmed

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    Crypto markets getting "flushed." B)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Definitely up and holding....Interesting, will see what the end of the week brings.... Cheers, RickO

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    @OPA said:
    Crypto markets getting "flushed." B)

    yepper, looking for a good re-entry on ETH. $1100 oughta do it.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    @derryb said:

    @OPA said:
    Crypto markets getting "flushed." B)

    yepper, looking for a good re-entry on ETH. $1100 oughta do it.

    You're almost there. Less than $40 to go. Good luck.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited November 10, 2022 3:37AM

    crypto drop is a result of collapse of major crypto exchange FTX. While this temporarily affects the value of cryptos traded on their platform (and also on many other platforms) it is likely a knee jerk reaction to FTX's bad news. Cryptos themselves have lost no inherint value (If one can figure out a way to calculate it) and will likely rebound as they have when there was bad PR on other crypto exchanges in the past. While most see fear, I see opportunity. Marking my favorite crypto ETH at a current price of $1085 for future reference.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,269 ✭✭✭✭✭

    @derryb said:

    @OPA said:
    Crypto markets getting "flushed." B)

    yepper, looking for a good re-entry on ETH. $1100 oughta do it.

    Too bad you forgot to sell at $4K lol

    The whole worlds off its rocker, buy Gold™.

  • pmh1nicpmh1nic Posts: 3,116 ✭✭✭✭✭

    @derryb said:
    crypto drop is a result of collapse of major crypto exchange Biance. While this temporarily affects the value of cryptos traded on their platform (and also on many other platforms) it is likely a knee jerk reaction to Biance's bad news. Cryptos themselves have lost no inherint value (If one can figure out a way to calculate it) and will likely rebound as they have when there was bad PR on other crypto exchanges in the past. While most see fear, I see opportunity. Marking my favorite crypto ETH at a current price of $1085 for future reference.

    $65K to $16K in a year. Bitcoin has lost no inherent value because it's not currently valued at zero dollars and some folks willing to hold. It appears many others don't have the faith to hold. The promoters tried selling it as a currency. It's too volatile to be a currency. They tried selling it as a long term store of wealth. It hasn't proven itself over the long term. Bitcoin is a highly speculative asset that has been greatly devalued over the last year. If you traded your fiat currency when it was $20K, $30K, $60K you either take the loss or hope and pray faith in Bitcoin will see a rebound.

    The longer I live the more convincing proofs I see of this truth, that God governs in the affairs of men. And if a sparrow cannot fall to the ground without His notice is it possible for an empire to rise without His aid? Benjamin Franklin
  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    Tulips. But even then there was money to be made. Volatility can be one's friend.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    @blitzdude said:

    @derryb said:

    @OPA said:
    Crypto markets getting "flushed." B)

    yepper, looking for a good re-entry on ETH. $1100 oughta do it.

    Too bad you forgot to sell at $4K lol

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • GoldminersGoldminers Posts: 3,557 ✭✭✭✭✭
    edited November 10, 2022 7:04AM

    Gold at a discount. Buy an ounce of gold, get a $150 bonus one time and 4% credit back.

  • cohodkcohodk Posts: 18,491 ✭✭✭✭✭

    @derryb said:
    Cryptos themselves have lost no inherint value

    Can't lose what you don't have.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,748 ✭✭✭✭✭

    @cohodk said:

    @derryb said:
    Cryptos themselves have lost no inherint value

    Can't lose what you don't have.

    Cmon... we all know a few brothers out there who's minds are gone even though their brains are intact and functioning. .

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    FED starting to stutter on rates, gold reacts to the upside.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • MetroDMetroD Posts: 1,913 ✭✭✭✭✭

    @Goldminers said:
    Gold at a discount. Buy an ounce of gold, get a $150 bonus one time and 4% credit back.

    The $150, one time, bonus is definitely attractive. However, the utility of the 4.0% credit back depends upon how you normally pay for your purchases (i.e., check versus credit card).

    As I understand it, when you make a purchase with the "Bullion" card, you pay the credit card price, which is higher than the check price. Great if you usually pay with a credit card, because the credit back effectively lowers your price. Not so great if you usually pay with a check.

    If my math is correct, it is currently a 'wash' at 4.0% credit back (i.e., credit card price - credit back = check price).

    Example: 1.0 oz. Gold Bar from Argor-Heraeus (APMEX Product ID: 43453)

    At the time of this post:
    Check Price (Qty. 1-9) = $1,872.49
    Credit Card Price (Qty. 1-9) = $1,950.51 - 4.0% credit back = $1,872.49

    Note - the 4.0% credit back drops to 3.0% after 2/28/23 per https://thebullioncard.apmex.com

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited December 13, 2022 5:50AM

    Another daily spike as CPI data shows inflation cooling.

    Been a big spike in gold in the past few decades as well:

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Wow... Gold just hit $1820.... Not sure it will hold though.... Cheers, RickO

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Oh yeah... and silver hit $24.10.... Fun morning ahead.... Cheers, RickO

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    What we really need is a couple of $100 days in gold and a few $10 days in silver to really get things moving. B)

    It may still be awhile, then again - maybe sooner than we think.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Big spikes, followed by large dips.... seems to be the formula lately.... Cheers, RickO

  • GoldminersGoldminers Posts: 3,557 ✭✭✭✭✭

    Buy dips, sell spikes. Seems too easy. LOL

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    Russia’s Sber Bank Mints Gold-Backed Coins

    "A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that the operation is a first."

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • ms71ms71 Posts: 1,449 ✭✭✭✭✭
    edited January 14, 2023 12:52PM

    I'm not sure what "digital assets based on gold" means. To me, it would seem to mean that the asset's value is pegged to the current price of gold, not backed by gold.

    Successful BST transactions: EagleEye, Christos, Proofmorgan,
    Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins

    Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.

    My mind reader refuses to charge me....
  • cohodkcohodk Posts: 18,491 ✭✭✭✭✭

    @ms71 said:
    I'm not sure what "digital assets based on gold" means. To me, it would seem to mean that the asset's value is pegged to the current price of gold, not backed by gold.

    It's Russia.....so.....

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • blitzdudeblitzdude Posts: 5,269 ✭✭✭✭✭

    @Goldminers said:
    Buy dips, sell spikes. Seems too easy. LOL

    Gold aka Au, The Metal Of Kings etc. Just keep on buying. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Gold is on the rise again....... We will be seeing $2K gold soon....Cheers, RickO

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,748 ✭✭✭✭✭

    Remember when gold was under a thousand per ounce ? Now it's under two thousand per ounce, except at the mint, where it's just under three thousand per ounce.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Gold is moving up right now.....and silver... Cheers, RickO

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Gold may hit $2K this month.... Cheers, RickO

  • SoldiSoldi Posts: 2,012 ✭✭✭✭✭

    Gold may hit $2100 this month, now the pundits will tear into the .25 and use my word 'pivot' .

    Its not monetary, no cost push , no demand pull its a world stumbling over covid and missteps.

    An aberration, an enigma wrapped in a riddle. I got the right ta-ta , but the wrong ho-ho. Daddy

    $2100 here we come and Amarillo by morning 🌄

  • KeevanKeevan Posts: 146 ✭✭✭

    Lowest unemployment rate in 54 years, gold takes a dive today.

    Successful BST transactions (as a buyer) with @ArchStanton, @JGnumismatics, @r00kies101, @derryb, @76collector, @Pachucko, @brendanlam, @Coll3ctor. I am looking for fractional gold Krugerrands, by year: 0.5oz: 2014, 2020, 2023 | 0.25oz: 1992, 1994, 2002, 2020, 2023 | 0.10oz: 1990, 1992, 1994, 2010, 2020-2021

  • PerryHallPerryHall Posts: 45,179 ✭✭✭✭✭

    A very low unemployment rate means wages will have to increase as businesses will have to complete for their employees from a smaller pool of labor. Higher labor cost will result in an increase in prices reflecting an increase in inflation. I would expect that higher inflation will eventually be good for gold prices.

    Worry is the interest you pay on a debt you may not owe.

  • SoldiSoldi Posts: 2,012 ✭✭✭✭✭
    edited February 3, 2023 8:53AM

    What ever happened to Neo Classical economics as I learned in 1994 at the local University? "(un)Employment above 5 % and we tended toward recession and below 5% and the economy overheated into Inflation" ceteris paribus and it's not ! As the powers to be like to massage the numbers for politically motivated reasons; seems to me, they have massage them into a whole new economic paradigm. One which consists of confusion and constant threats of a New World Order of digital currency and complete government control.

    Perhaps it's true as Jean Baptiste Say would say; Supply can create demand. Please think hard on this quote by Say.

    What are we supplied with Gold and Silver or panic and concern?

    Is it cost push or demand pull and I'm serious this is a stumbling by distribution due to the pandemic it can be corrected.

    Coins and Cars are beginning to slide downward. What was supplied? Stimmies? Or opportunity knocking ? Once again !

    Fed Chair states emphatically "they buy treasuries and bonds before issuing more currency.....digitally"

  • tincuptincup Posts: 4,719 ✭✭✭✭✭

    Soldi, we are in an age of disinformation. Numbers are messaged, changed, hidden; standards are changed to meet objectives (the inflation rate, etc.), and we hear outrageous and obvious lies every day, from those who are in charge.

    So yep.... the old rules just do not apply any more! Things that traditionally would cause gold and silver to spike.... have the opposite effect! And of course, paper contracts everywhere....

    ----- kj
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Yep.... Strange times indeed.... However, there will be an economic reckoning in the reasonably foreseeable future... and gold will maintain and carry through as the fundamental value. Cheers, RickO

  • cohodkcohodk Posts: 18,491 ✭✭✭✭✭

    @tincup said:
    So yep.... the old rules just do not apply any more! Things that traditionally would cause gold and silver to spike.... have the opposite effect!

    Gold performed exactly as it should have. Good economic numbers means the FED will not necessarily be in a rush to lower rates. This caused the dollar to rise and since gold is priced in dollars, it declined.

    Intermarket relationships and dynamics are working just fine, and have been. It is the interpretation of "how things should be" that is flawed.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • blitzdudeblitzdude Posts: 5,269 ✭✭✭✭✭
    edited February 4, 2023 5:08PM

    @cohodk said:

    @tincup said:
    So yep.... the old rules just do not apply any more! Things that traditionally would cause gold and silver to spike.... have the opposite effect!

    Gold performed exactly as it should have.

    The AU dipped and gave us a gift. Praise Budda! Record speed shipment from the Big A with several more on the way.

    Is there a better gooberment issued reverse out there? I don't think so. RGDS!

    PS/Edit: I love the design DE Saints but our neighbors to the south proceeded to whoop our backsides. THKS!

    The whole worlds off its rocker, buy Gold™.

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    @cohodk said:

    Intermarket relationships and dynamics are working just fine, and have been. It is the interpretation of "how things should be" that is flawed.

    Wake me when market fundamentals are firing on all cylinders and not on juice from the FED.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • tincuptincup Posts: 4,719 ✭✭✭✭✭

    " Intermarket relationships and dynamics are working just fine, and have been. It is the interpretation of "how things should be" that is flawed. "

    Perhaps. But I suspect that is more true for those in the financial world ( those 'in the know', and those who are performing the manipulations, etc.).

    Perhaps not quite 'working just fine' for the average joe in the street?

    ----- kj
  • tincuptincup Posts: 4,719 ✭✭✭✭✭
    edited February 5, 2023 8:04AM

    Like I said previously... we are in an age of disinformation (and manipulation). I can only speak for myself... I have very little trust in anything I now read, truth does not seem to have much importance any more.

    ----- kj
  • GoldFinger1969GoldFinger1969 Posts: 1,133 ✭✭✭✭

    @ms71 said:
    I'm not sure what "digital assets based on gold" means. To me, it would seem to mean that the asset's value is pegged to the current price of gold, not backed by gold.

    It's similar to an ETN -- an Exchange Traded Note -- just a promise backed by the creditworthiness (or lack thereof) of the issuer.

    It's an IOU backed by the bank/issuer.

  • KeevanKeevan Posts: 146 ✭✭✭

    Tomorrow is CPI day. If it comes in above expectations, gold may (or may not) go down :)

    Successful BST transactions (as a buyer) with @ArchStanton, @JGnumismatics, @r00kies101, @derryb, @76collector, @Pachucko, @brendanlam, @Coll3ctor. I am looking for fractional gold Krugerrands, by year: 0.5oz: 2014, 2020, 2023 | 0.25oz: 1992, 1994, 2002, 2020, 2023 | 0.10oz: 1990, 1992, 1994, 2010, 2020-2021

  • GoldFinger1969GoldFinger1969 Posts: 1,133 ✭✭✭✭

    @Keevan said:
    Tomorrow is CPI day. If it comes in above expectations, gold may (or may not) go down :)

    Pretty much in-line. Gold is flat.

    The real action is in the short-term Treasury bill market.

  • GoldminersGoldminers Posts: 3,557 ✭✭✭✭✭

    Picked up a few 6 to18 month Treasurys at 5%. Still below inflation, but better than getting nothing for cash like the past several years.

    Probably not a bad time to add a bit more silver as it is getting closer to $21 again. Platinum and palladium just don't have much demand in spite of scarcity and high production costs. Gold is still resting, waiting for the elusive pivot later in the year. Good luck to all.

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