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What caused the jump in gold and silver prices July 3 and 5

SoldiSoldi Posts: 2,177 ✭✭✭✭✭
in Precious Metals

Any idea?

Comments

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    Speculation that inflation is easing, job market slightly cooling which could translate into interest rate cuts. Bitcoin and Ethereum got pummeled last week -20%+ which I suspect drove some people out and maybe into metals. Wannabe dictators getting closer in their attempt to rule the world etc. RGDS!

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,269 ✭✭✭✭✭

    Manipulators woke up from all the fireworks. They’ve begun to realize some truths.

  • handymanhandyman Posts: 5,343 ✭✭✭✭✭

    I guess people wanted to load up there personal rockets with it and send it into space.

  • derrybderryb Posts: 36,777 ✭✭✭✭✭

    dollar promoters jumping ship

    "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

  • GoldFinger1969GoldFinger1969 Posts: 1,714 ✭✭✭✭✭

    European elections, plus a very weak BitCoin last few weeks.

    BTC is down about 30% in recent months while gold is down about 2% from her ATH.

  • WCCWCC Posts: 2,571 ✭✭✭✭✭

    The same thing as always, buyers and sellers acting on their beliefs.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,269 ✭✭✭✭✭
    edited July 11, 2024 8:59PM

    Van Halen. That’s the short answer. “Jump”.
    Silver: $31.47
    Gold: $2415.30

  • bidaskbidask Posts: 14,016 ✭✭✭✭✭

    weaker cpi yesterday

    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • derrybderryb Posts: 36,777 ✭✭✭✭✭
    edited August 3, 2024 12:28PM

    We are currently in the beginning of an unannounced recession. Equities are beginning their long overdue long term downward spiral. Interest rates are expected to go lower.

    Gold will thrive in such an environment as will UVXY and the miners.

    "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

  • rte592rte592 Posts: 1,658 ✭✭✭✭✭
    edited August 6, 2024 6:19AM

    @derryb said:
    We are currently in the beginning of an unannounced recession. Equities are beginning their long overdue long term downward spiral. Interest rates are expected to go lower.

    Gold will thrive in such an environment as will UVXY and the miners.

    You wouldn't know it from today's outing.
    I went to a delinquent storage locker sale.
    CASH ONLY
    8 units, 2 turned out to be cars.
    There were 34 parties bidding
    These were average units and the cheapest one went for $260

    One with a plastic Kayak and long gun case sold for $$740.
    One unit with 3 well used dirt bikes and 2 plastic Kayaks sold for $860.
    People were spending some serious money on what I don't know. Maybe just gambling on something that I didn't see.
    We picked up a 2004 Volvo XC90 for $200.
    One unit had a standing kickboxing stand , some random stuff and what looked like a tin with what could have been jewelry??
    It sold for $610.
    It sure didn't show signs of a recession.

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    Economy is absolutely BOOMIN!

    Bulguaria Hedge has brainwashed the doomsays to thinking the sky is always falling. Some have been posting almost 20 years here and it's been the same 'Merica is about to collapse BS since their very first post. Exit the bunker people. RGDS!

  • SoldiSoldi Posts: 2,177 ✭✭✭✭✭

    Yes, I've been expecting a turn on the Dow, but a month ago on a holiday weekend. Rte592 experience encouraging

  • derrybderryb Posts: 36,777 ✭✭✭✭✭

    @rte592 said:

    @derryb said:
    We are currently in the beginning of an unannounced recession. Equities are beginning their long overdue long term downward spiral. Interest rates are expected to go lower.

    Gold will thrive in such an environment as will UVXY and the miners.

    You wouldn't know it from today's outing.
    I went to a delinquent storage locker sale.
    CASH ONLY
    8 units, 2 turned out to be cars.
    There were 34 parties bidding
    These were average units and the cheapest one went for $260

    One with a plastic Kayak and long gun case sold for $$740.
    One unit with 3 well used dirt bikes and 2 plastic Kayaks sold for $860.
    People were spending some serious money on what I don't know. Maybe just gambling in something that I didn't see.
    We picked up a 2004 Volvo CX90 for $200.
    One unit had a standing kickboxing stand , some random stuff and what looked like a tin with what could have been jewelry??
    It sold for $610.
    It sure did show signs of a recession

    Damn speculators.

    "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

  • derrybderryb Posts: 36,777 ✭✭✭✭✭
    edited August 4, 2024 11:15AM

    VIX says trouble ahead. The "Everything Bubble" nears its end.

    "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

  • cohodkcohodk Posts: 19,075 ✭✭✭✭✭

    @rte592 said:
    These were average units and the cheapest one went for $260

    Folk typically spend $2000 in storage fees for $500 worth of junk.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    Imaginary CoiNZ sure are GeTTiN spanked. I'll buy back in once that bubble completely pops. THKS!

  • tincuptincup Posts: 5,110 ✭✭✭✭✭

    @blitzdude said:
    Economy is absolutely BOOMIN!

    Bulguaria Hedge has brainwashed the doomsays to thinking the sky is always falling. Some have been posting almost 20 years here and it's been the same 'Merica is about to collapse BS since their very first post. Exit the bunker people. RGDS!

    For sure 'absolutely BOOMIN!'.... wrong direction though.

    ----- kj
  • jmski52jmski52 Posts: 22,804 ✭✭✭✭✭

    It's boomin' in blitz's alternative universe.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,777 ✭✭✭✭✭

    look for an "emergency" rate cut

    "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

  • psuman08psuman08 Posts: 313 ✭✭✭

    @derryb said:
    look for an "emergency" rate cut

    I don't think so. The carry trades from Japan are being unwound. Initial market falls were overreactions this morning.

    Fed is achieving what it set out to by lowering inflation. I am not saying I agree with it, but Powell is not going to suddenly change his mind without "more data."

  • tincuptincup Posts: 5,110 ✭✭✭✭✭

    I don't know about rate cut probabilities or anything like that.... not that knowledgeable on financial matters (other than my own personal finances). Will be interesting to see how this week will close out... and next week starts. And when/if Middle East starts doin more than sabre rattling.... ....does look like something is going to happen.

    ----- kj
  • BLUEJAYWAYBLUEJAYWAY Posts: 8,963 ✭✭✭✭✭

    @rte592 said:

    @derryb said:
    We are currently in the beginning of an unannounced recession. Equities are beginning their long overdue long term downward spiral. Interest rates are expected to go lower.

    Gold will thrive in such an environment as will UVXY and the miners.

    You wouldn't know it from today's outing.
    I went to a delinquent storage locker sale.
    CASH ONLY
    8 units, 2 turned out to be cars.
    There were 34 parties bidding
    These were average units and the cheapest one went for $260

    One with a plastic Kayak and long gun case sold for $$740.
    One unit with 3 well used dirt bikes and 2 plastic Kayaks sold for $860.
    People were spending some serious money on what I don't know. Maybe just gambling in something that I didn't see.
    We picked up a 2004 Volvo CX90 for $200.
    One unit had a standing kickboxing stand , some random stuff and what looked like a tin with what could have been jewelry??
    It sold for $610.
    It sure did show signs of a recession

    These are the new "Vault Boxes" offering.😆

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
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