Not gonna lie. I'd love to see $500 gold and $10 silver for about 4-5 years so I could stock up very heavy on both. I'd pull all the OT I could at work if that happened. Don't see that happening, but I can only dream
<< <i>Not gonna lie. I'd love to see $500 gold and $10 silver for about 4-5 years so I could stock up very heavy on both. I'd pull all the OT I could at work if that happened. Don't see that happening, but I can only dream >>
The big boys, particularly JPM, remain extremely long in gold, oil is up, dollar index shows no strength. What we are seeing is preliminary panic that FED will taper next week. They may do so, but it will most likely just be a small, token gesture and gold will continue to provide dollar insurance. If they don't taper at all gold will have a field day in lieu of the pre FED meeting declines.
I personally think it all amounts to just another tree shaking to free up physical gold at a cheap price.
"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
Most asset classes have outperformed gold since it was $850, even bonds.
Gold is just another asset class that will have to wait again for its day in the sun.
lol, I'll do you this favor and tell you what gold really is, and why you want so badly to think otherwise.
Yes, it is a store of value. It's also a vote against and a hedge against the gross mismanagement and malfeasance by the people who run the system in which you place so much confidence. It's much more than just another asset. I'll continue to use metals as my savings plan. You can keep trading the charts. See? Everybody's happy.
Q: Are You Printing Money? Bernanke: Not Literally
I suspect that people in the paper metals contracts are pretty unhappy at this juncture.
Did some major news happen that we should all know about? Has anything affecting the metals markets changed? Did the Fed and gov.com decide to become fiscally and financially responsible all of a sudden?
Yeah, I didn't think so either.
I note that all of the wishful thinking about $500 or $900 gold in this thread never did happen. What iteration of QE are we in now? I forget.
...............waiting for the trolls to chime in.................
Q: Are You Printing Money? Bernanke: Not Literally
Maybe the pandemic is ending, HotVax summer is starting, and gold coins still just sit there. Is it trollish to suggest that some of the new PM investors might be moving back out?
I like other things, although this is the precious metals forum.
In 2008 these were like $800. IIRC Now they're $2000 ( or close to).
Now we are in a new decade.
Enjoy the ride !
So here is the most recent ten year gold chart.
@cohodk said:
Performance of "stores of value" since the OP..
Gold ....up 98%
Silver ....up 53%
TLT-treasury bond etf...up 130%
SPY-SP500 etf....up 314%
Median home price....up 55%
I've paid tens of thousands for insurance for my home and autos since then.
Compared to that my dollar insurance (PMs) is very cheap.
You left out cryptos (my other dollar policy). . .
up a zillion%
"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
Funny how a thread started in 2008, last posted in 2013 is still valid today.
In my opinion gold is a short term investment, if you buy low and sell high, and a long term store of wealthy. If you had $200,000 in 2000 and used $100,000 to buy gold and did nothing with the other $100,000 the purchasing power of your dollars would have declined 27% while the value of the gold would have increased 500%. Of course if you had purchased Apple stock then you would have done much better.
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
@Higashiyama said:
And turning to lumber...market forces are bringing them down to earth as well.
Thank goodness. I just built a greenhouse in April and it cost 4x of what it would have in 2019. I've been waiting for lumber to fall so I can start a new out building
m
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Since you apparently are not aware, the purpose of insurance is to protect, not to profit. 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
"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
Oh, and the crazy bulgarians were spot on with their last prediction of failure concerning a FED rise in rates:
"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
"Data over the past 4 reporting weeks indicate that a large non-commercial trader has amassed as many as 40,000 COMEX gold contracts, the equivalent of 4 million ounces of gold. The large, long gold futures position was established and added to on the deliberate price smash into August 10 – almost as if the buyer was waiting to start accumulating on lower prices."
John Paulson?
"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
Crazy amount of money here... Question, do we know how "long" the position is? I know it means roughly that it was bought to hold long term, but how long?
For the record, nearly 40,000 contracts of COMEX gold futures has a total notional dollar value of $7.2 billion (at $1800 per ounce) and each dollar move higher or lower would equate to $4 million for the holder, and $400 million for each $100 move in the gold price. Minimum initial margin requirements would run $8250 per contract or $330 million for 40,000 contracts. My best guess is that the position in question was acquired at roughly a $1770 per ounce average price.
@Meltdown said:
Crazy amount of money here... Question, do we know how "long" the position is? I know it means roughly that it was bought to hold long term, but how long?
For the record, nearly 40,000 contracts of COMEX gold futures has a total notional dollar value of $7.2 billion (at $1800 per ounce) and each dollar move higher or lower would equate to $4 million for the holder, and $400 million for each $100 move in the gold price. Minimum initial margin requirements would run $8250 per contract or $330 million for 40,000 contracts. My best guess is that the position in question was acquired at roughly a $1770 per ounce average price.
Bi hi sel lo. Thanks!
PS By it all. The Bulgarians will thank you.
"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
Thanks for the reminder----shoulda bought land which could have been had for 25c to $2/acre in the 1800s. So that $20 double eagle would have gotten 10 to 80 acres which would be worth upwards of $500,000 now.
Thanks for the reminder----shoulda bought land which could have been had for 25c to $2/acre in the 1800s. So that $20 double eagle would have gotten 10 to 80 acres which would be worth upwards of $500,000 now.
which of those years since the 1800's would that land have been exempt from property tax? There is an annual fee to hold real estate.
"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
Thanks for the reminder----shoulda bought land which could have been had for 25c to $2/acre in the 1800s. So that $20 double eagle would have gotten 10 to 80 acres which would be worth upwards of $500,000 now.
which of those years since the 1800's would that land have been exempt from property tax? There is an annual fee to hold real estate.
Oh, you mean the annual "gain" one gets from holding real estate.
Any tax would be much less than the value of the goods produced from that land. Timber was harvested, grains were grown, naturally reproducing proteins were harvested. Rocks were turned into building material. Energy was produced. All of these things, and many more, vastly overcame any "tax". The value of goods produced over the years in many cases has far exceeded even the current land value.
Aside from the banality of your argument? You chose to ignore all the events that would have occurred during the 200+ years you would have owned the land - not the least of which is people wondering how a 200+ year old person is still kicking around on his 10 to 80 acres selling logs, grains, proteins, rocks and oil/gas...
deleveraging
profit taking
conspiracy
worthless yellow stuff
no faith in the paper trades
no physical settlements
take your pick more than one may be right
i would think that the carry traders would need another place to go, maybe they are "here", too?
It's a good post by "57". It seems to me one of the bigger investment banks had given out a prediction of $1650 and an end of year rise back towards $2000. I'd post the article if I can find it. "no physical settlements" looms large, but a rise to $2000 is one heck of a coaster ride.
Comments
<< <i>Not again!!!!!!
I'm getting "sea sick"
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
Opportunity is better than no opportunity. It's better having some than none.
<< <i>Not gonna lie. I'd love to see $500 gold and $10 silver for about 4-5 years so I could stock up very heavy on both. I'd pull all the OT I could at work if that happened. Don't see that happening, but I can only dream >>
I'll take 900 gold and 14 silver.
<< <i>Sea sick would imply and up and down motion---this is just dddown! >>
I get sea sick on minor daily swings
<< <i>The thread is five years old and this chart is a ten year history.
Opportunity is better than no opportunity. It's better having some than none.
Love your chart, TS2C.
I personally think it all amounts to just another tree shaking to free up physical gold at a cheap price.
"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>Just another day in the gold market....hang on, towards the end of the year it will be up......Cheers, RickO >>
I enjoy your confidence RickO.
I knew it would happen.
Most asset classes have outperformed gold since it was $850, even bonds.
Gold is just another asset class that will have to wait again for its day in the sun.
Knowledge is the enemy of fear
<< <i>
<< <i>Just another day in the gold market....hang on, towards the end of the year it will be up......Cheers, RickO >>
I enjoy your confidence RickO. >>
I'm happy for you. Personally, I'd prefer some one who is more accurate with their crystal ball gazing or gut feelings.
Most asset classes have outperformed gold since it was $850, even bonds.
Gold is just another asset class that will have to wait again for its day in the sun.
lol, I'll do you this favor and tell you what gold really is, and why you want so badly to think otherwise.
Yes, it is a store of value. It's also a vote against and a hedge against the gross mismanagement and malfeasance by the people who run the system in which you place so much confidence. It's much more than just another asset. I'll continue to use metals as my savings plan. You can keep trading the charts. See? Everybody's happy.
I knew it would happen.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>
<< <i>The thread is five years old and this chart is a ten year history.
Opportunity is better than no opportunity. It's better having some than none.
Love your chart, TS2C.
Couldn't resist posting this chart yet again!
This thread is 15 years old.
There are some great posts from some of the old timers.
I suspect that people in the paper metals contracts are pretty unhappy at this juncture.
Did some major news happen that we should all know about? Has anything affecting the metals markets changed? Did the Fed and gov.com decide to become fiscally and financially responsible all of a sudden?
Yeah, I didn't think so either.
I note that all of the wishful thinking about $500 or $900 gold in this thread never did happen. What iteration of QE are we in now? I forget.
...............waiting for the trolls to chime in.................
I knew it would happen.
Maybe the pandemic is ending, HotVax summer is starting, and gold coins still just sit there. Is it trollish to suggest that some of the new PM investors might be moving back out?
Liberty: Parent of Science & Industry
Performance of "stores of value" since the OP..
Gold ....up 98%
Silver ....up 53%
TLT-treasury bond etf...up 130%
SPY-SP500 etf....up 314%
Median home price....up 55%
No trolls. Just facts.
Let the manipulated conspirators chime in.....
Knowledge is the enemy of fear
Took a big drop yesterday. This thread has legs.
I like other things, although this is the precious metals forum.
In 2008 these were like $800. IIRC Now they're $2000 ( or close to).
Now we are in a new decade.
Enjoy the ride !
So here is the most recent ten year gold chart.
I've paid tens of thousands for insurance for my home and autos since then.
Compared to that my dollar insurance (PMs) is very cheap.
You left out cryptos (my other dollar policy). . .
up a zillion%
"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
Funny how a thread started in 2008, last posted in 2013 is still valid today.
In my opinion gold is a short term investment, if you buy low and sell high, and a long term store of wealthy. If you had $200,000 in 2000 and used $100,000 to buy gold and did nothing with the other $100,000 the purchasing power of your dollars would have declined 27% while the value of the gold would have increased 500%. Of course if you had purchased Apple stock then you would have done much better.
And turning to lumber...market forces are bringing them down to earth as well.
Thank goodness. I just built a greenhouse in April and it cost 4x of what it would have in 2019. I've been waiting for lumber to fall so I can start a new out building
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
>
Performance of "dollar insurance" since the OP..
Gold ....up 98%
Silver ....up 53%
TLT-treasury bond etf...up 130%
SPY-SP500 etf....up 314%
Median home price....up 55%
Knowledge is the enemy of fear
Since you apparently are not aware, the purpose of insurance is to protect, not to profit. 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
You are a living oxymoron. Lol
Knowledge is the enemy of fear
judgement from you is meaningless. 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
Why any interest rate increases will end in disaster. And when the market wakes up to this gold will be on a new cliff looking down at the last one.
Oh, and the crazy bulgarians were spot on with their last prediction of failure concerning a FED rise in rates:
"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
Here we go again!
Bye-bye
Buy-buy
By-bi-metal
Homonyms , like synonyms.
A gold whale surfaces.
"Data over the past 4 reporting weeks indicate that a large non-commercial trader has amassed as many as 40,000 COMEX gold contracts, the equivalent of 4 million ounces of gold. The large, long gold futures position was established and added to on the deliberate price smash into August 10 – almost as if the buyer was waiting to start accumulating on lower prices."
John Paulson?
"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
Crazy amount of money here... Question, do we know how "long" the position is? I know it means roughly that it was bought to hold long term, but how long?
Click on this link to see my ebay listings.
Bi hi sel lo. Thanks!
PS By it all. The Bulgarians will thank you.
The whole worlds off its rocker, buy Gold™.
reminder for those that need one:
"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
Orinting $8T up in here for reelZ
The whole worlds off its rocker, buy Gold™.
Thanks for the reminder----shoulda bought land which could have been had for 25c to $2/acre in the 1800s. So that $20 double eagle would have gotten 10 to 80 acres which would be worth upwards of $500,000 now.
Knowledge is the enemy of fear
which of those years since the 1800's would that land have been exempt from property tax? There is an annual fee to hold real estate.
"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
Stack on.
Oh, you mean the annual "gain" one gets from holding real estate.
Any tax would be much less than the value of the goods produced from that land. Timber was harvested, grains were grown, naturally reproducing proteins were harvested. Rocks were turned into building material. Energy was produced. All of these things, and many more, vastly overcame any "tax". The value of goods produced over the years in many cases has far exceeded even the current land value.
Knowledge is the enemy of fear
Dropping like a rock this morning...
Click on this link to see my ebay listings.
So taxmad, whats so funny about what I wrote?
Knowledge is the enemy of fear
Aside from the banality of your argument? You chose to ignore all the events that would have occurred during the 200+ years you would have owned the land - not the least of which is people wondering how a 200+ year old person is still kicking around on his 10 to 80 acres selling logs, grains, proteins, rocks and oil/gas...
and yes here it is again...
My US Mint Commemorative Medal Set
It's a good post by "57". It seems to me one of the bigger investment banks had given out a prediction of $1650 and an end of year rise back towards $2000. I'd post the article if I can find it. "no physical settlements" looms large, but a rise to $2000 is one heck of a coaster ride.
Oh it's not manipulated.