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Precious Metal Wizards
ricko
Posts: 98,724 ✭✭✭✭✭
OK all you gold and silver market wizards.... What caused the precipitous drop in gold and silver today??
Cheers, RickO
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ricko
Posts: 98,724 ✭✭✭✭✭
ricko
Posts: 98,724 ✭✭✭✭✭
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This is part of the story:
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Because cnbc says the risk is “off” and to buy stocks because the Fed has your back?
Yeah, sure thing. (Cough).
I knew it would happen.
PM prices also usually drop right after I buy a few silver bars. Then I buy the dip.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Strong USD. RGDS!
The whole worlds off its rocker, buy Gold™.
compared to what, the euro? lol
Look deeper grasshopper. What caused dollar strength?
It was hotter than expected Institute of Supply Management (ISM) Non-Manufacturing Index data combined with FED whisperer Nick Timiraos pushing the 'higher rates for longer' narrative.
Give Me Liberty or Give Me Debt
Dang recessions. Lol
Knowledge is the enemy of fear
dang inflation. lol
Give Me Liberty or Give Me Debt
dang inflation. lol
I'm just so relieved that it's only transitory. The privately-owned banking cartel, aka the Fed said so.
I knew it would happen.
the beauty of the market...months worth of gains can be erased in a few days lol...just when my mutual funds were even for the year, now down 10% after 2 days
Peter Schiff: You Think Inflation Is Bad Now? Wait Until Next Year!
"Every dollar that the government spends must be paid for by the public, one way or another. There are two ways the government gets money from the public. One is honestly, through taxation, where it takes our money and then spends it. But the other way is dishonest. They just print money. They don’t tax us. They print money, and then they spend that into circulation. But when they do that, the price of everything we buy goes up. And so, instead of taking our money, they take our purchasing power. Every time you go to the supermarket and you’re paying a higher price, you’re paying a tax. Those higher prices are the cost of big government. And the more government spends, the higher prices are going to rise.”
Give Me Liberty or Give Me Debt
Good grief...all that bs from different so called "knowledgeable" sources is mind-blowing.
PM's went down because there were more sellers than buyers. And if there was a profit to be made, it was taken. Expect the markets to regain some lost ground shortly, so that we can continue on our roller coaster adventure.
OK. Let's ask the original question with different words: Why were there more buyers than sellers?
Give Me Liberty or Give Me Debt
Why were there more buyers THAT day, and less the next?
Knowledge is the enemy of fear
Fluctuations are nothing new. Breathe. It's a breather.
@TwoSides2aCoin .... I agree, breathe.... Holding one's breath for this long could prove fatal.
Cheers, RickO
Here's a 30 day, bro.
Just as I predicted ... The roller coaster ride has continued its journey
The global market is a roller coaster ride. So it's not really a prediction. Rest before rally.
David Morgan gives a good interview on Greg Hunter's USAWatchdog.com, explaining both the silver premiums and the change in the law that explains why the Mint is making fewer Unc Silver Eagles.
I knew it would happen.
Little catching up in store?
Give Me Liberty or Give Me Debt
Probably not. Especially since your chart is a month and 10 days old. That's gutter dinosaur years. RGDS!
The whole worlds off its rocker, buy Gold™.
Shiff is wrong . Fed will ease and rapidly, economy's are going south and rapidly too. Occurs right after new year look out for deflation. This is going to get ugly, real reason for disruptive global economy was indeed COVID causing supply distribution issue and the administration helicopter money.
Hang on tight to jobs, loosen up on silver stacking, gold and especially rare coins. Get fiat while you can you'll need it for everyday expenses. Many will envy you.
Why? I don’t need anymore toilet paper
I believe Fed will continue to raise to meet their 5-ish% rate goal, though much less aggressively. Then hold for a while. Markets traditionally rise for a while when Fed is in a holding pattern. Inflation will remain stubbornly high but is gradually trending down. Central banks around the world are buying gold as an inflation hedge. Watch gold in 2023 (and silver). Gold should easily breach $2000+ again, most analysts think much higher. USA is ahead of the world rate game, though late. Probably more of a controlled rough landing here, not the end of the world. Cool heads always prevail, stay nimble. JMHO.
The USD and skullduggery