Talk about pm crashing

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mikee999
mikee999 Posts: 619 ✭✭✭✭✭
in Precious Metals

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  • Goldminers
    Goldminers Posts: 4,414 ✭✭✭✭✭
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    Good time to buy over the weekend.
    A lot of people seem to want to buy gold on up days and seem to avoid sale prices when it is down.

    My US Mint Commemorative Medal Set

  • mikee999
    mikee999 Posts: 619 ✭✭✭✭✭
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    @Goldminers said:
    Good time to buy over the weekend.
    A lot of people seem to want to buy gold on up days and seem to avoid sale prices when it is down.

    But will dealers/sellers adjust their prices downward to reflect current spot?

  • Goldminers
    Goldminers Posts: 4,414 ✭✭✭✭✭
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    @mikee999 said:

    @Goldminers said:
    Good time to buy over the weekend.
    A lot of people seem to want to buy gold on up days and seem to avoid sale prices when it is down.

    But will dealers/sellers adjust their prices downward to reflect current spot?

    Most of the bullion dealers I buy from have direct minute by minute pricing updates with spot ask prices. I just checked and can see very low pricing on several silver bars that I like, very close to $30 which is only about 70 cents above spot. I do not buy overpriced eagles as their premiums are a joke.

    I bought 300 ounces yesterday before the drop, but they were scarce bar types, so I don't really care too much. I bought one specifically just to post for Blitz soon, which I know his reaction already, LOL.

    My US Mint Commemorative Medal Set

  • stevek
    stevek Posts: 32,681 ✭✭✭✭✭
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    If ya follow the old adage of gold is a hedge against inflation, and silver is the poor man's gold, whatever happens in November, money is still going to be excessively printed.

    Therefore, I can't envision gold or silver crashing. Perhaps some profit taking, especially if the various world "problems" currently out there get settled.

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
    edited June 8, 2024 4:18PM
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    two reasons: Knee jerk reaction to slow down in China buying gold (there were those here who claimed the price runup had nothing to do with Chinese buying) and a spectacular (LOL) jobs report that will, as always, be revised downward.
    1. Look for China to take advantage of lower gold prices that it helped to create.
    2. Jobs report, as always, will be revised lower. What the MSM is not telling the public:

    And, there has been ZERO INCREASE in jobs for native-born workers in over five years, since July 2018! How much of this income will be reported to the IRS. LOL

    As always PMs will recover from misinformation. Buy the dip Mortimer.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Soldi
    Soldi Posts: 2,177 ✭✭✭✭✭
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    @morgansforever said:
    I walked in to a local pawn shop the other day and asked what's your buy price for 1 oz. AGE's, the best he could do was $1550.

    Come to South Carolina they make you pay them $1600 to take it off your hands

  • Soldi
    Soldi Posts: 2,177 ✭✭✭✭✭
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    @derryb said:
    two reasons: Knee jerk reaction to slow down in China buying gold (there were those here who claimed the price runup had nothing to do with Chinese buying) and a spectacular (LOL) jobs report that will, as always, be revised downward.
    1. Look for China to take advantage of lower gold prices that it helped to create.
    2. Jobs report, as always, will be revised lower. What the MSM is not telling the public:

    And, there has been ZERO INCREASE in jobs for native-born workers in over five years, since July 2018! How much of this income will be reported to the IRS. LOL

    As always PMs will recover from misinformation. Buy the dip Mortimer.

    Derryb SPEAKS THE TRUTH end of discussion. I'm telling you Up reports mean down , Down mean Up

  • derryb
    derryb Posts: 38,605 ✭✭✭✭✭
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    The jobs report is nothing more than "narrative management."

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Koinsarefun
    Koinsarefun Posts: 36 ✭✭✭
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  • JimTyler
    JimTyler Posts: 4,100 ✭✭✭✭✭
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    I’m not talking about it

  • pmbug
    pmbug Posts: 117 ✭✭
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    Rollercoasters aren't thrilling if they only go up.

    Yelling at clouds on pmbug.com

  • JimTyler
    JimTyler Posts: 4,100 ✭✭✭✭✭
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    @pmbug said:
    Rollercoasters aren't thrilling if they only go up.

    So wise grasshopper

  • bidask
    bidask Posts: 14,057 ✭✭✭✭✭
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    Costco m> @mikee999 said:

    That barely 7% correction

    Hardly a crash !

    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.




  • bidask
    bidask Posts: 14,057 ✭✭✭✭✭
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    @bidask said:
    Costco m> @mikee999 said:

    That barely 7% correction

    Hardly a crash !

    So much for the crash !

    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.




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