Are we still buying on the way down? What's changed if anything?

Soldi

Well, what do you all think? Gold $1800.

Where are the stops other than a strong dollar what's changing.

derryb

Nothing has changed. Buyers are reloading their wallets.

Higashiyama

Even though we were at 1300 five years ago, I wouldn’t be surprised if we never saw 1800 again. A drop back to 1800 would seem to require progress on our deficits and an improvement in the global Geo political situation. Both are possible but seem pretty far out. (timewise)

derryb

Central banks, who are exchanging US dollars for gold, will likely take advantage of the price drop.

MsMorrisine

@Higashiyama said:
Even though we were at 1300 five years ago, I wouldn’t be surprised if we never saw 1800 again. A drop back to 1800 would seem to require progress on our deficits and an improvement in the global Geo political situation. Both are possible but seem pretty far out. (timewise)

traders have the "All Is Well" thing stuck in their heads. 1600 wouldn't surprise me. we are the ones preaching deficits and federal debt for all these years. i'm saying what makes you think that is in traders heads now?

cohodk

@Soldi said:
Well, what do you all think? Gold $1800.

Where are the stops other than a strong dollar what's changing.

I would not expect a 25% decline.

jmski52

I wouldn’t want to be in stocks if gold heads towards $1,800.

bidask

tough to fight a guaranteed 5% + 2 year treasury note where the interest paid is exempt from state taxes

GoldFinger1969

None of what you all are posting is relevant to the short-term or long-term price of gold.

Treasury yields were HIGHER when the gold price was LOWER -- so all of a sudden it matters ? Nah...more likely profit-taking.

BitCoin and crypto much weaker last few days and in April.

Soldi

So, Gold and Silver just did the opposite of what I thought they would. What do you think short covering?
Fed stayed pat and I figure metals would or will drop.

MsMorrisine

the day-to-day moves on gold and silver seem divorced from reactions to stuff like the fed

blitzdude

@Soldi said:
So, Gold and Silver just did the opposite of what I thought they would. What do you think short covering?
Fed stayed pat and I figure metals would or will drop.

Perhaps to the rest of the earth, planet, universe the fed is irrelevant? THKS!

derryb

@blitzdude said:

@Soldi said:
So, Gold and Silver just did the opposite of what I thought they would. What do you think short covering?
Fed stayed pat and I figure metals would or will drop.

Perhaps to the rest of the earth, planet, universe the fed is irrelevant? THKS!

Unfortunately, most western economies are at the mercy of the FED. Their central banks are forced to react to FED decisions.

TwoSides2aCoin

Unsure of we,they, them or us. But I buy / sell on the down and up. To the left and to the right

rte592

@TwoSides2aCoin said:
Unsure of we,they, them or us. But I buy / sell on the down and up. To the left and to the right

Same here, but depends on the piece.
Paul has a 10 ounce year of the snake silver in the classified this morning and I had to take a closer look.
It took a little bit for my eyes to focus and I was wondering if someone else would swoop in and grab it before I did...that happens sometimes.
It wasn't the bar I was looking for so it's still available... shameless plug

GoldFinger1969

@MsMorrisine said:
the day-to-day moves on gold and silver seem divorced from reactions to stuff like the fed

They ALWAYS are.

We're down 4% from the ATH and folks react like it was January 1980 with gold getting cut in half in a few weeks.

blitzdude

@GoldFinger1969 said:

@MsMorrisine said:
the day-to-day moves on gold and silver seem divorced from reactions to stuff like the fed

They ALWAYS are.

We're down 4% from the ATH and folks react like it was January 1980 with gold getting cut in half in a few weeks.

I think they are still panicking over the gutter metal, not the metal of kings. Some are at the highs, some are half of what they once were. RGDS!

TwoSides2aCoin

@Soldi said:
Well, what do you all think? Gold $1800.

Where are the stops other than a strong dollar what's changing.

I'm thinking the ones who keep thinking about it are still on the other side of the fence. Adding to the stack at a lower cost is better than thinking about it, when there is a price drop.
Told my ex partners in another business to "let's load up" at $900 per oz. in 2009. Hello ? Who's still thinking about it ? When was gold $1800. ? It's $3200 at the US mint.

tincup

So still a buying opportunity?

TwoSides2aCoin

@tincup said:
So still a buying opportunity?

I ordered more today. That's a "yes", if directed to me. Opportunities are more often than not. .

jmski52

Soldi said:
Well, what do you all think? Gold $1800.

Where are the stops other than a strong dollar what's changing.

I think that trading gold with a hair trigger trading mentality is less effective than taking a longer-term fundamental approach.

Cost-average in; cost average out. You won’t be sorry.

Soldi

@jmski52 said:
Soldi said:
Well, what do you all think? Gold $1800.

Where are the stops other than a strong dollar what's changing.

I think that trading gold with a hair trigger trading mentality is less effective than taking a longer-term fundamental approach.

Cost-average in; cost average out. You won’t be sorry.

Presumptuous.
Elaborate on your fundamental approach.

jdimmick

Locally, as silver zoomed thru 30 up to 32 last thur/fri, had a few folks buying lightly, 3-7 oz here and there then comes sat, mon, and tuesday, silver coming in by the pure pile, so much that I couldn't get rid of it. No local buyers period, sold zero at spot., called several places that buy, they were between 1.50 back to 50c back. Unloaded about 1500+ oz , wednesday, came piling in again, people wanting to sell .At that point had to back off buying to spot minus 2, some still sold, others called somebody else thank goodness as still no buyers locally. Thursday , some more sellers early on, then the price drop stopped the sellers calling, a few minor buyers fri, but still not enough to suck up the amount that came in. Kept a few oz for the shop , the rest locked in with refinery for sun delivery.

I asked a couple of dealers in the area how it was going, one told me he was buying at 5 bucks back and still getting a ton of sellers. And I thought I was bad at 2 back. One other dealer next town over was at 3 back, he was buying a pile as well.

jmski52

Presumptuous.
Elaborate on your fundamental approach.

My basic presumption is that precious metals are real, and that fiat is never going to hold its purchasing power over the long run because the politicians and bankers simply can't resist the temptation to extract money from the public by whatever means necessary for their own benefit.

I owned stocks for over 30 years and haven't been in the stock market since 2006. I made some good money during the dotcom runup, but I saw what happened to the speculative part of my holdings when that market went to zero. My feeling is that the dotcom experience was just a practice run for what is happening in the stock market (including cryptos) now.

I did buy some real estate in 2017, and made a nice gain when I sold it in 2023. I may go that route again, but not yet. I think that there's a blowoff coming in real estate, but it will be worse in the urban areas.

My fundamental approach is to accumulate gold, silver and platinum over the years, and to keep very good records for tax purposes. I've been accumulating fairly steadily since 1998, but sporadically before that. The only timing I've done for many years has been to buy more when my income was higher, and to buy less when my income wasn't as high. The caveat is also that when prices are high, it is somewhat self-limiting and serves to make me pause before buying.

I have a mixed approach in maintaining several coin collections that keep my interest high but my main focus has been bullion accumulation in proportion to my disposable income for the year. I keep a healthy enough cash reserve so that I'm not selling when prices drop, (such as the sellers in jdimmick's post, above).

I do sell some of the coins & bullion occasionally when I have a special project in mind, but I always try to weed out the stuff that has a nice gain, or the stuff that no longer captures my interests. I'm careful to match up any losses with the gains on my sales, whenever I sell anything to raise capital. Call it good luck or good planning, but I've never been forced to sell because of being boxed in by a drop in any market.

Coin collecting is interesting history, and besides Large Cents, I've found some ancient Greek & Roman coins interesting, as well as some historical German Notgeld and Weimar issues. There's a story to be told, and while history never repeats exactly, it does rhyme.

What is your approach?

blitzdude

@jdimmick said:
Locally, as silver zoomed thru 30 up to 32 last thur/fri, had a few folks buying lightly, 3-7 oz here and there then comes sat, mon, and tuesday, silver coming in by the pure pile, so much that I couldn't get rid of it. No local buyers period, sold zero at spot., called several places that buy, they were between 1.50 back to 50c back. Unloaded about 1500+ oz , wednesday, came piling in again, people wanting to sell .At that point had to back off buying to spot minus 2, some still sold, others called somebody else thank goodness as still no buyers locally. Thursday , some more sellers early on, then the price drop stopped the sellers calling, a few minor buyers fri, but still not enough to suck up the amount that came in. Kept a few oz for the shop , the rest locked in with refinery for sun delivery.

I asked a couple of dealers in the area how it was going, one told me he was buying at 5 bucks back and still getting a ton of sellers. And I thought I was bad at 2 back. One other dealer next town over was at 3 back, he was buying a pile as well.

I can report that the market is still paying spot for the SLV, no calls, no shipping, no driving to a shop. Just a simple click of the mouse. This just illustrates what a poor decision it is to invest in the physical gutter. Pay premiums when buying lose premiums and get offered back of spot when selling. Sure, hoard the stuff for a few decades and you may be up on paper but inflation pretty much wipes out any gains. THKS!

cohodk

@jdimmick said:
Locally, as silver zoomed thru 30 up to 32 last thur/fri, had a few folks buying lightly, 3-7 oz here and there then comes sat, mon, and tuesday, silver coming in by the pure pile, so much that I couldn't get rid of it. No local buyers period, sold zero at spot., called several places that buy, they were between 1.50 back to 50c back. Unloaded about 1500+ oz , wednesday, came piling in again, people wanting to sell .At that point had to back off buying to spot minus 2, some still sold, others called somebody else thank goodness as still no buyers locally. Thursday , some more sellers early on, then the price drop stopped the sellers calling, a few minor buyers fri, but still not enough to suck up the amount that came in. Kept a few oz for the shop , the rest locked in with refinery for sun delivery.

I asked a couple of dealers in the area how it was going, one told me he was buying at 5 bucks back and still getting a ton of sellers. And I thought I was bad at 2 back. One other dealer next town over was at 3 back, he was buying a pile as well.

My dealer said the monthly show he does last weekend was dead, dead, dead.

Honestly though, I do like the thought of "stackers" selling at 5 back.

dcarr

@cohodk said:

@jdimmick said:
Locally, as silver zoomed thru 30 up to 32 last thur/fri, had a few folks buying lightly, 3-7 oz here and there then comes sat, mon, and tuesday, silver coming in by the pure pile, so much that I couldn't get rid of it. No local buyers period, sold zero at spot., called several places that buy, they were between 1.50 back to 50c back. Unloaded about 1500+ oz , wednesday, came piling in again, people wanting to sell .At that point had to back off buying to spot minus 2, some still sold, others called somebody else thank goodness as still no buyers locally. Thursday , some more sellers early on, then the price drop stopped the sellers calling, a few minor buyers fri, but still not enough to suck up the amount that came in. Kept a few oz for the shop , the rest locked in with refinery for sun delivery.

I asked a couple of dealers in the area how it was going, one told me he was buying at 5 bucks back and still getting a ton of sellers. And I thought I was bad at 2 back. One other dealer next town over was at 3 back, he was buying a pile as well.

My dealer said the monthly show he does last weekend was dead, dead, dead.

Honestly though, I do like the thought of "stackers" selling at 5 back.

.

"Stackers" don't sell at 5 dollars under spot, and they generally buy more than they sell (by definition).

.

dcarr

@blitzdude said:

@jdimmick said:
Locally, as silver zoomed thru 30 up to 32 last thur/fri, had a few folks buying lightly, 3-7 oz here and there then comes sat, mon, and tuesday, silver coming in by the pure pile, so much that I couldn't get rid of it. No local buyers period, sold zero at spot., called several places that buy, they were between 1.50 back to 50c back. Unloaded about 1500+ oz , wednesday, came piling in again, people wanting to sell .At that point had to back off buying to spot minus 2, some still sold, others called somebody else thank goodness as still no buyers locally. Thursday , some more sellers early on, then the price drop stopped the sellers calling, a few minor buyers fri, but still not enough to suck up the amount that came in. Kept a few oz for the shop , the rest locked in with refinery for sun delivery.

I asked a couple of dealers in the area how it was going, one told me he was buying at 5 bucks back and still getting a ton of sellers. And I thought I was bad at 2 back. One other dealer next town over was at 3 back, he was buying a pile as well.

I can report that the market is still paying spot for the SLV, no calls, no shipping, no driving to a shop. Just a simple click of the mouse. This just illustrates what a poor decision it is to invest in the physical gutter. Pay premiums when buying lose premiums and get offered back of spot when selling. Sure, hoard the stuff for a few decades and you may be up on paper but inflation pretty much wipes out any gains. THKS!

.

I offer you $10 under spot for all your physical silver.
Now you can go about quoting that, saying how bad physical silver is because someone offered $10 under.
But that would not be an accurate assessment of the market.

Just because one low-baller offered $5 under spot doesn't mean that is where the general market is.

If the silver "spot" price were to drop to $20 from here, your SLV would drop all the way with it (sub $20).
But physical silver is less volatile than paper silver. If silver spot dropped to $20, premiums on physical silver would likely increase, mitigating losses.

SLV is a poor long-term holding.

For longer terms, physical silver is much better, especially when it is in the form of interesting and/or collectible items.

.

cohodk

@dcarr said:

@cohodk said:

@jdimmick said:
Locally, as silver zoomed thru 30 up to 32 last thur/fri, had a few folks buying lightly, 3-7 oz here and there then comes sat, mon, and tuesday, silver coming in by the pure pile, so much that I couldn't get rid of it. No local buyers period, sold zero at spot., called several places that buy, they were between 1.50 back to 50c back. Unloaded about 1500+ oz , wednesday, came piling in again, people wanting to sell .At that point had to back off buying to spot minus 2, some still sold, others called somebody else thank goodness as still no buyers locally. Thursday , some more sellers early on, then the price drop stopped the sellers calling, a few minor buyers fri, but still not enough to suck up the amount that came in. Kept a few oz for the shop , the rest locked in with refinery for sun delivery.

I asked a couple of dealers in the area how it was going, one told me he was buying at 5 bucks back and still getting a ton of sellers. And I thought I was bad at 2 back. One other dealer next town over was at 3 back, he was buying a pile as well.

My dealer said the monthly show he does last weekend was dead, dead, dead.

Honestly though, I do like the thought of "stackers" selling at 5 back.

.

"Stackers" don't sell at 5 dollars under spot, and they generally buy more than they sell (by definition).

.

So the guy that bought last week sold? Last month? Last year? 2 years ago, 5 years ago? Maybe the guy that bought 10 years ago and finally got back to even? He bought when he was 70, nows he's 80...should he wait till he's 90?

Even stackers sell.

Soldi

The Silver zoom zoom is going to occur mid June into July. Up up and up aways. $40 easily.

Soldi

@jmski52 said:
Presumptuous.
Elaborate on your fundamental approach.

My basic presumption is that precious metals are real, and that fiat is never going to hold its purchasing power over the long run because the politicians and bankers simply can't resist the temptation to extract money from the public by whatever means necessary for their own benefit.

I owned stocks for over 30 years and haven't been in the stock market since 2006. I made some good money during the dotcom runup, but I saw what happened to the speculative part of my holdings when that market went to zero. My feeling is that the dotcom experience was just a practice run for what is happening in the stock market (including cryptos) now.

I did buy some real estate in 2017, and made a nice gain when I sold it in 2023. I may go that route again, but not yet. I think that there's a blowoff coming in real estate, but it will be worse in the urban areas.

My fundamental approach is to accumulate gold, silver and platinum over the years, and to keep very good records for tax purposes. I've been accumulating fairly steadily since 1998, but sporadically before that. The only timing I've done for many years has been to buy more when my income was higher, and to buy less when my income wasn't as high. The caveat is also that when prices are high, it is somewhat self-limiting and serves to make me pause before buying.

I have a mixed approach in maintaining several coin collections that keep my interest high but my main focus has been bullion accumulation in proportion to my disposable income for the year. I keep a healthy enough cash reserve so that I'm not selling when prices drop, (such as the sellers in jdimmick's post, above).

I do sell some of the coins & bullion occasionally when I have a special project in mind, but I always try to weed out the stuff that has a nice gain, or the stuff that no longer captures my interests. I'm careful to match up any losses with the gains on my sales, whenever I sell anything to raise capital. Call it good luck or good planning, but I've never been forced to sell because of being boxed in by a drop in any market.

Coin collecting is interesting history, and besides Large Cents, I've found some ancient Greek & Roman coins interesting, as well as some historical German Notgeld and Weimar issues. There's a story to be told, and while history never repeats exactly, it does rhyme.

What is your approach?

Jmski you're a gentleman.

Well, that is one refreshing, informative and pretty much quite an intelligent answer. I've got quite a bit in the stock market and since LTCM 1998 and the spanking I got in 2006-2008 property, market etc. My Silver and Gold stacking has been opportunistic both buying and selling and I'm not ashamed to say I've jumped on board a rally or two. With precious metals the worst I can do dollar cost average.

It's difficult to catch a falling knife and it's courageous to buy into a market making new highs; for how long?

I'm a collector at heart all the rest is just the times we're in.

TwoSides2aCoin

@cohodk said:

@dcarr said:

@cohodk said:

@jdimmick said:
Locally, as silver zoomed thru 30 up to 32 last thur/fri, had a few folks buying lightly, 3-7 oz here and there then comes sat, mon, and tuesday, silver coming in by the pure pile, so much that I couldn't get rid of it. No local buyers period, sold zero at spot., called several places that buy, they were between 1.50 back to 50c back. Unloaded about 1500+ oz , wednesday, came piling in again, people wanting to sell .At that point had to back off buying to spot minus 2, some still sold, others called somebody else thank goodness as still no buyers locally. Thursday , some more sellers early on, then the price drop stopped the sellers calling, a few minor buyers fri, but still not enough to suck up the amount that came in. Kept a few oz for the shop , the rest locked in with refinery for sun delivery.

I asked a couple of dealers in the area how it was going, one told me he was buying at 5 bucks back and still getting a ton of sellers. And I thought I was bad at 2 back. One other dealer next town over was at 3 back, he was buying a pile as well.

My dealer said the monthly show he does last weekend was dead, dead, dead.

Honestly though, I do like the thought of "stackers" selling at 5 back.

.

"Stackers" don't sell at 5 dollars under spot, and they generally buy more than they sell (by definition).

.

So the guy that bought last week sold? Last month? Last year? 2 years ago, 5 years ago? Maybe the guy that bought 10 years ago and finally got back to even? He bought when he was 70, nows he's 80...should he wait till he's 90?

Even stackers sell.

Some do. They understand commodities. None are dumb.

rte592

Hmmm. Buying on the way down.
I just got outbid on an ounce silver art bar and my bid was $71.23.
The piece sold for $77.77 and $4.85 shipping.