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PM's in a free fall
OPA
Posts: 17,104 ✭✭✭✭✭
Gold: 1,607... -36.50... -2.22%
Silver...............16.73............. -1.02
Platinum.....857.00.... -44.00
Palladium....2462.00.... -292.00
Rhodium...10,900.00 .... -300.00
Thanks to Coronavirus fears.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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Not what, but "who?"
Japan is suspect of intervention in order to pump its dying fiat.
All one has to do is hit gold, the rest will follow.
Give Me Liberty or Give Me Debt
Wow. Haven't seen that volume of movement in a while.
Click on this link to see my ebay listings.
Alright...which one of you stocked up last night?
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
look for central banks to, more than ever, coordinate their efforts to save influence markets.
Give Me Liberty or Give Me Debt
That's an impressive hit on gold.
I knew it would happen.
china was dumping cash into markets early on when their markets took limit down days.
as posted earlier, HK just gave every permanent resident HK$10,000
they can try to influence the usa market, but I think it is too early -- too much daily volume and too much pessimism -- to have a good effect. they can have a great effect once new infections start to climb at a slowing pace.
Bitcoin is holding steady today...just saying.
Governments do not like Gold to soar in price. It makes their currency look weak. Draw your own conclusions.
100% Positive BST transactions
I cannot support this with hard evidence, however, I believe there has been a move from PM's into hard cash...Cheers, RickO
BTC is down 2%+ today, and 16% in the past two weeks. Gold is down only 6% after recent high on 24 Feb. Rhodium and Palladium getting beaten up finally - which makes sense because how many fewer cars will the Chinese build this year?
PMs (no apostrophe needed) ARE hard cash... or so we were told 😉
Cheers, BaleO
Liberty: Parent of Science & Industry
they is sure taking a major dump today. if it goes low enough ill get some more
The precious metals recovered quickly after the Lehman Brothers hit, the stock market took about 1 1/2 years longer to recover. At this point, we don't even know which financial institutions are going down or what the official response will be.
I knew it would happen.
And the winner is? Cash
latest figures as of 2PM ET
Gold........ 1568........-$76.00
Silver 16.39.............. -$1.36
Platinum 849.00 .......-$52.00
Palladium 2430.00 .........-$324.00
Rhodium 10300.00.... -$900.00
Gold Silver ratio has moved from 85-1 to 95-1 very quickly.
go cash!!
actually bond prices are in a high nosebleed area.
msnBS just suggested that central banks might sell gold to raise cash. after all, as suggested by ben Bernanke, gold is not money; central banks only hold it for traditional purposes. I guess they feel it is time to break with tradition.
Or possibly a butter reason:, maybe it's just margarine calls on everything.
Oh, that's just precious!
Liberty: Parent of Science & Industry
What goes up must come down I suppose. 93 octane here in the Consumption State hasn't gone down, still $3.24 a gallon.
Gold has only one purpose:
To be sold at one point for $$.
A lot of gold is being dumped to cover margin calls in a tanking market..
This will turn. Get ready to buy the dip.
Anyone have any good stock picks during this freefall?
Cramer's top ten picks:
https://www.cnbc.com/2020/02/27/jim-cramer-10-tech-stocks-to-buy-now-in-a-coronavirus-plagued-market.html
"I cannot support this with hard evidence, however, I believe there has been a move from PM's into hard fiat cash."
Fixed it for you.
Give Me Liberty or Give Me Debt
@derryb....Thank you... that is appropriate....Cheers, RickO
Don't butter him up.
Lysol.
TVIX
Give Me Liberty or Give Me Debt
Some good picks if the selloff continues are ticker "SH" which is an inverse S&P 500 ETF (goes up when the S&P goes down) and BND which is a total bond fund that is useful to have when rates drop and investors are looking for safehaven places to put their $$$ like now. Always do your due diligence but it doesn't look like the market is liking the coronavirus...which doesn't look like it is going to slow down anytime soon.
It's nerve racking, never bought a share of stock in my life, it's always been 401k, roth ira and pm's. I'm glad I stayed away from the cannabis stocks, I believe some will be booted from the exchange. Two I was considering were ACB and HEXO, both have lost 75% or so in the last year.
The equity carnage is forcing investors to seek alternatives. The recent climb in gold showed their preference. The recent hammer on gold sends these investors where the FED wants them, US treasuries. Treasuries will soon prove to be the wrong place to be. Gold will continue to be attacked, but it will not fail.
Give Me Liberty or Give Me Debt
Central banks don't need to sell gold to raise cash, they can print all they want. Central banks hold gold for the same reason you and I do: so we have something of value when the currency has little to none. Like I have said many times, "insurance."
Give Me Liberty or Give Me Debt
_msnBS just suggested that central banks might sell gold to raise cash. after all, as suggested by ben Bernanke, gold is not money; central banks only hold it for traditional purposes. _
That doesn't explain why BIS reclassified gold as a Tier I asset a couple years ago. Gold has no counterparty risk.
I knew it would happen.
1st confirmed death in Washington state, not good news for any of us.
10,000 people die of the flu every year don't they? And there is a vaccine for flu , which most people don't even get .
seems like a media driven frenzy , if it wasn't repeated every 60 seconds by the media we wouldn't even notice
I had a sinus infection this winter that lasted like 8 weeks, should I call Dan Rather?
The winner is if you are long ( long term high quality bonds)
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Looking hard at Boeing and Microsoft right now. I like Boeing at $250, once this media hysterics are over and the 737max is cleared to fly this will jump (my opinion at least)
Best investment MRE !!!
stands for meals ready to eat , prices have tripled I've got 6 cases I might have to flog them on ebay for ruinous prices. Exploit the frightened sheep
Monday l be interesting. Might re-load JNUG again. GLTA
100% Positive BST transactions
I forget which MRE'S came with the chocolate peanut butter bar, might have been Chicken Cacciatore. I called it Chicken Catchya Later. The dehydrated burger was nasty unless you had hot water to reconstitute it.
Interesting, I always went for the dehydrated beef patty, Place on those saltine crackers, topped with that slag city cheese and powdered ketchup. Instant desert cheeseburger.
The whole worlds off its rocker, buy Gold™.
long time ago , 80's era there was a good chicken ala king.
I have low standards when it comes to food, as a kid I loved powdered milk and voluntarily purchased it as an adult
Media coverage is possibly a bit overblown, but yours is an ignorant statement. This is an extremely infectious virus, and 20% of all cases are critical. This means that when it shows up in a community, it leads to an outbreak, and when there is an outbreak it overloads local hospital facilities (bad news not only for people with the virus but anyone else with medical issues). Of that 20% who are critical, fatality rates are about 10%. Also, unlike the flu, there is evidence that immunity resistance isn’t developed in those who have been sick, as there have been a lot of examples of reinfections. What this means about the development of a vaccine is still unclear.
It’s not useful when people panic without knowing what is actually going on (and there’s plenty of that, though it does create buy opportunities) but also not useful when people spout off about not worrying when there is a real problem, which can lead to a worsening of the spread of the virus. Do your research before you say things.
Preparation H
Possibly? 1 death so far and every channel is a non stop corona panic fountain. Im in Mass I saw about 20 people at the super market wearing masks yesterday
The coronavirus virus appears to be very contagious with a relatively high mortality rate. The influenza virus has a mortality rate of 0.25% while the coronavirus virus may be as high as 5%. If the virus does indeed spread rapidly things may get very ugly. There’s no reason to panic but on the other hand let’s not downplay it either.
Not “possibly,” these are statistics. On the other hand, I don’t know where you’re getting “1 death” from; thousands of people are documented to have died from this virus since December.
Mass, by the way, has already been on high flu alert for almost a month now as the weather conditions are conducive to the spread of viruses, and the universities have been struggling with high rates of absences because students don’t practice good hygiene (nor do people on the T). That includes simple behaviors like covering your mouth (with an elbow or, yes, a mask) and washing your hands. Or do you not believe in that, either?
1 death in the US right? Not talking china , not talking worldwide 1 death here in the US . In the last two months here in the US how many deaths from seasonal flu?
CDC estimates* that, from October 1, 2019, through February 22, 2020, there have been:
32,000,000 – 45,000,000
flu illnesses
14,000,000 – 21,000,000
flu medical visits
310,000 – 560,000
flu hospitalizations
18,000 – 46,000
flu deaths
The mortality rate looks to be around 2%, depending on the medical facilities available, which is very high compared to the flu. It’s that 20% critical rate though that has overwhelmed health care systems in other countries and caused social unrest.