Anybody else think that maybe Gold and Silver is moving up to fast (BUBBLE) ??

Mike59 · August 4, 2020 8:22AM

As a many year buyer of gold and Silver coins, bars, ASE's and AGE's I want the PM's to move up. Im just concerned that if PM's move to far to fast and the people that "have to have at any price" start piling in. Im thinking watch out below. I hope that it dosent happen this time. PM's havent felt this good since the early 2010's. What do you think??

ricko · August 4, 2020 8:28AM

Gold is knocking on $2000 as we speak...Not sure what caused this sudden rise, but there it is. Buyers are already piling in....Cheers, RickO

derryb · August 4, 2020 8:31AM

dollar destruction has escalated as has knowledge of it. Gold/silver will get hammered shortly, but not for long.

johnny9434 · August 4, 2020 8:32AM

@ricko said:
Gold is knocking on $2000 as we speak...Not sure what caused this sudden rise, but there it is. Buyers are already piling in....Cheers, RickO

$2012 as of about ten minutes ago

ricko · August 4, 2020 8:35AM

@johnny9434.... Not on Kitco, which market are you watching?? Cheers, RickO

johnny9434 · August 4, 2020 8:38AM

that was at a quick glance off of yahoo finance

derryb · August 4, 2020 8:39AM

Wait til the Robinhood kids figure out they can buy SLV or GLD on the platform. Currently only 36,101 accounts hold GLD and 25,462 holders of SLV. MSFT is quite popular, held in over 629,000 accounts.

derryb · August 4, 2020 8:40AM

@ricko said:
@johnny9434.... Not on Kitco, which market are you watching?? Cheers, RickO

likely futures

johnny9434 · August 4, 2020 8:41AM

very well could be

tincup · August 4, 2020 8:44AM

With coronavirus and this economy... we are in unprecedented times. So.... how will metals react? Beats me.

But I have always viewed precious metals as an insurance policy, and as diversification in one's investments. With that type of view, day to day gains or losses are not as urgent as for those who tend to play the metals for short or mid term profits.

But of coarse anyone who holds metals does not want to see large drops! If metals lost half their value... I would view that as an excellent buying opportunity to add even more diversification!

mapleman · August 4, 2020 9:04AM

Apmex 2008 last.

OPA · August 4, 2020 9:14AM

Kitco...almost

Low/High..... 1968.80 /........ 1999.80

OPA · August 4, 2020 9:20AM

@derryb said:
dollar destruction has escalated as has knowledge of it. Gold/silver will get hammered shortly, but not for long.

"Gold/silver will get hammered shortly, but not for long" I hope it's not a repeat of 2011. It took 8 + years for gold, silver still has a long way to go.

derryb · August 4, 2020 9:22AM

Cue the confetti:

cohodk · August 4, 2020 9:23AM

December is the active futires month....$2016.

Jimnight · August 4, 2020 10:39AM

Not worried.

roadrunner · August 4, 2020 10:57AM

Gold ran up "too fast" in 2004 and 2008. Eventually went quite a bit higher. If those run patterns play out gold can go to $2250/$2350 by end of year.

MilesWaits · August 4, 2020 11:08AM

We are in uncharted shark infested salty financial water.
Seriously, what is not possible?
As Derry, noted, Hammer Time.

mapleman · August 4, 2020 11:37AM

@MilesWaits said:
We are in uncharted shark infested salty financial water.
Seriously, what is not possible?
As Derry, noted, Hammer Time.

Agreed but I'm thinking it could be time for a partial au liquidation hold the balance on spec... Decisions decisions....

Wolf359 · August 4, 2020 11:48AM

@Mike59 said:
As a many year buyer of gold and Silver coins, bars, ASE's and AGE's I want the PM's to move up. Im just concerned that if PM's move to far to fast and the people that "have to have at any price" start piling in. Im thinking watch out below. I hope that it dosent happen this time. PM's havent felt this good since the early 2010's. What do you think??

Bitcoin was just over $11,000. Electrons on a spreadsheet. Totally worthless!

No, 150 years of price manipulation will be ending. How can this be too fast to move to the price it should be?

s4ny · August 4, 2020 11:59AM

Be careful of thinking something has run too fast. Momentum is a very strong characteristic in any market. Players will pile on and the trend should continue.

OPA · August 4, 2020 12:12PM

I'm cautiously optimistic for the short term prospect. But history has a way of repeating itself and I remember 2011 all to well. Same bravado's in PM circles

SurfinxHI · August 4, 2020 12:15PM

anyone think the dollar moving in a downward trajectory = metals get more expensive?

Mike59 · August 4, 2020 1:18PM

@Wolf359 said:

@Mike59 said:
As a many year buyer of gold and Silver coins, bars, ASE's and AGE's I want the PM's to move up. Im just concerned that if PM's move to far to fast and the people that "have to have at any price" start piling in. Im thinking watch out below. I hope that it dosent happen this time. PM's havent felt this good since the early 2010's. What do you think??

Bitcoin was just over $11,000. Electrons on a spreadsheet. Totally worthless!

No, 150 years of price manipulation will be ending. How can this be too fast to move to the price it should be?

Yes you are correct and I Agree BUT we have played this tune before and PM have always given it ( Silver more so than gold) back. There is an old expression "From your mouth to gods ear" . I have not sold an ounce so lets hope you are correct.

Wingsrule · August 4, 2020 1:25PM

topstuf · August 4, 2020 1:40PM

What's running too fast is the destruction of the United States.
Gold simply reflects that.

mapleman · August 4, 2020 1:41PM

2027 apmex ask now

DoubleEagle59 · August 4, 2020 1:51PM

Yes, moving up too fast, but no, not a bubble.

blitzdude · August 4, 2020 2:49PM

Nowhere near bubble phase. She will get there no doubt but Joe the plumber isn't even out looking for gold yet. Still early in the cycle. IMO

PerryHall · August 4, 2020 3:31PM

When something goes up this fast, I expect a correction to follow.

Jimnight · August 4, 2020 3:36PM

@PerryHall said:
When something goes up this fast, I expect a correction to follow.

You know what I think ... the main correction come with a vaccine.

derryb · August 4, 2020 4:45PM

Won't be in a bubble until the FED prints money to buy it.

Baley · August 4, 2020 6:01PM

@topstuf said:
What's running too fast is the destruction of the United States.
Gold simply reflects that.

What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

PerryHall · August 4, 2020 6:09PM

@Baley said:

@topstuf said:
What's running too fast is the destruction of the United States.
Gold simply reflects that.

What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

Turning a thread political will get a thread shut down by the mods and may result in a few people getting a time out or even being banned. You have been warned.

P.S.---I'd hate to lose any of you guys.

jmlanzaf · August 4, 2020 6:10PM

@PerryHall said:

@Baley said:

@topstuf said:
What's running too fast is the destruction of the United States.
Gold simply reflects that.

What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

Turning a thread political will get a thread shut down by the mods and may result in a few people getting a time out or even being banned. You have been warned.

P.S.---I'd hate to lose any of you guys.

half of this thread has been political

derryb · August 4, 2020 6:11PM

@Baley said:

@topstuf said:
What's running too fast is the destruction of the United States.
Gold simply reflects that.

What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

What's funny is gold is suddenly telling us that all those warnings about FED mis-management and the coming dollar crisis were based on fact and those that laughed at them didn't get the last laugh. lol

derryb · August 4, 2020 6:17PM

Expect much larger price swings with both gold and silver. As price increases so will the volatility.

cohodk · August 4, 2020 6:35PM

@Baley said:

@topstuf said:
What's running too fast is the destruction of the United States.
Gold simply reflects that.

What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

Mostly. I like that.

cohodk · August 4, 2020 6:39PM

@derryb said:

@Baley said:

@topstuf said:
What's running too fast is the destruction of the United States.
Gold simply reflects that.

What's funny is the number of extremists- on both sides of any controversy-- who say that 🤔

Whatever happened to the rational middle? Oh yeah, everybody hates them for "not being outraged enough!" For having "head in sand", for wearing "rose color glasses that see unicorns and rainbows " so they mostly (mostly) keep quiet

What's funny is gold is suddenly telling us that all those warnings about FED mis-management and the coming dollar crisis were based on fact and those that laughed at them didn't get the last laugh. lol

Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

cohodk · August 4, 2020 6:40PM

@derryb said:
Expect much larger price swings with both gold and silver. As price increases so will the volatility.

And the rhetoric. Good to be a trader, eh derryb?

derryb · August 4, 2020 7:13PM

@cohodk said:

@derryb said:
Expect much larger price swings with both gold and silver. As price increases so will the volatility.

And the rhetoric. Good to be a trader, eh derryb?

better to not be you, eh?

derryb · August 4, 2020 7:14PM

@cohodk said:

Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

you can't just create wealth from a printing press

topstuf · August 4, 2020 7:37PM

Gotta look at as if a guy went to a bank with a scaled down equivalent of the United States' financial condition, the bank wouldn't lend him a nickel.

bigjpst · August 4, 2020 8:36PM

@blitzdude said:
Nowhere near bubble phase. She will get there no doubt but Joe the plumber isn't even out looking for gold yet. Still early in the cycle. IMO

They’ve jumped straight to platinum and palladium. The amount of Catalytic converters stolen(sawed off)at the grocery store here in town is rising. Had one customer and one co worker experience that drama last week.

The local Morning news did an interview with a coin dealer in town last week. Spent the spot showing off silver bars and monster boxes and talking about how silver is flying off the shelves.

Bochiman · August 4, 2020 9:26PM

I was "interviewing" a new financial dude today, that wants my business.
He was telling he, personally, is buying some gold right now, and has been, due to all the bailout money and more to come. He is still the hell away from the electronic PMs and going for gold in hand. Let the "uninformed" worry about the stock ETFs for PMs he said and buy physical.

I laughed because that's what many here have been saying for years now.

The bigger financial guys are worried about all the influx of "newly printed" money and see gold going up a bit more, with maybe a temporary pull back.

Baley · August 4, 2020 10:46PM

@topstuf said:
Gotta look at as if a guy went to a bank with a scaled down equivalent of the United States' financial condition, the bank wouldn't lend him a nickel.

And that's called reductio ad absurdum I guess we're ginna set em up and shoot em down tonight?

cohodk · August 5, 2020 3:02AM

@derryb said:

@cohodk said:

Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

you can't just create wealth from a printing press

I believe you are saying that you and your RUSSIAN BOT ZH have been wrong, wrong, wrong, and its taken $12 trillion--which more than the entire value of all the gold ever mined-- just to get gold back to the value of nearly a decade ago, and silver back to where it was in 2013, 2008, 1980.

derryb · August 5, 2020 3:42AM

@cohodk said:

@derryb said:

@cohodk said:

Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

you can't just create wealth from a printing press

I believe you are saying that you and your RUSSIAN BOT ZH have been wrong, wrong, wrong, and its taken $12 trillion--which more than the entire value of all the gold ever mined-- just to get gold back to the value of nearly a decade ago, and silver back to where it was in 2013, 2008, 1980.

yet all these trillions later and your FED can't get the economy back to where it was 20 years ago. lol

blitzdude · August 5, 2020 4:23AM

@cohodk said:

@derryb said:

@cohodk said:

Its only taken an addition $9,000,000,000,000 dropped in 3 months. And another $3,000,000,000,000 dropped right before an election. Lol

But you have been saying since 2008 that they have it under control. Zero Hedge disagreed with you. Guess who was right.

you can't just create wealth from a printing press

I believe you are saying that you and your RUSSIAN BOT ZH have been wrong, wrong, wrong,

Bulgarian bots actually:

Owner ABC Media Limited (Bulgaria)

derryb · August 5, 2020 5:31AM

kinda strange that Bulgarian news is more accurate at reporting US financial news than is US news.

That in itself should tell you something about the reality of US news.

MsMorrisine · August 5, 2020 8:33AM

I think they are moving up too fast.

Anybody else think that maybe Gold and Silver is moving up to fast (BUBBLE) ??

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