Gold over $2800 an ounce!

safari_dude · January 30, 2025 6:32AM

Gold still on an upward trajectory. Hmmmmm….how high will it go? $2823 this morning. 🤔

WQuarterFreddie · January 30, 2025 6:34AM

Unfortunately my crystal ball is out of service. Please check back tomorrow!🤣🤣

Mr_Spud · January 30, 2025 6:37AM

Cool, I feel richer already 😉

DoubleEagle59 · January 30, 2025 6:48AM

First time it's over $4000 an ounce here in Canada!!

I wonder how long it'll be before it's $4000 an ounce US?

MFeld · January 30, 2025 6:57AM

I think you're looking at the futures price, not the spot price.

Edited to add: Here's the spot price (with a high of $2,787 as of a few moments ago):

jmlanzaf · January 30, 2025 6:58AM

@MFeld said:
I think you're looking at the futures price, not the spot price.

He is. People like the higher number... unless they are buying

GoldFinger1969 · January 30, 2025 8:05AM

@MFeld said:
I think you're looking at the futures price, not the spot price.

They are, but the added liquidity and near-term delivery make the futures price on COMEX the one most professionals and institutions look at.

logger7 · January 30, 2025 8:20AM

When it was in the several hundred dollar range it was a lot more friendly to the hobby. Premiums have dropped for many gold series, except small gold.

lermish · January 30, 2025 8:26AM

Unfortunately gold is going to crash at least 15% in the next two months, I have it on good authority.

skier07 · January 30, 2025 8:32AM

@lermish said:
Unfortunately gold is going to crash at least 15% in the next two months, I have it on good authority.

Thanks for the tip. I’m giving up my day job.

safari_dude · January 30, 2025 8:46AM

…

Goldbully · January 30, 2025 8:48AM

Live 24hr. Gold Spot Price

logger7 · January 30, 2025 9:00AM

I'd say follow the commentaries, Kitco, Zero Hedge, etc.. Major governments are buying, they may dump it as well if peace treaties replace war. Gold often follows oil, financial instability etc..

NorthStar · January 30, 2025 9:29AM

Wow @lermish that gold chart looks like a double top. Or is it a head and shoulders?
It reminds me of the song by the Clash: Should I Stay or Should I go!

jmlanzaf · January 30, 2025 9:33AM

@GoldFinger1969 said:

@MFeld said:
I think you're looking at the futures price, not the spot price.

They are, but the added liquidity and near-term delivery make the futures price on COMEX the one most professionals and institutions look at.

Please buy your bullion from me at that price.

RedRocket · January 30, 2025 9:39AM

I am banking on pre-1982 cents being worth a fortune one day.

jmlanzaf · January 30, 2025 9:41AM

@Sanddollar said:
I am banking on pre-1982 cents being worth a fortune one day.

Calculate the transportation costs. Lol

[I won't even mention the opportunity costs. ]

GoldFinger1969 · January 30, 2025 9:54AM

@lermish said:
Unfortunately gold is going to crash at least 15% in the next two months, I have it on good authority.

Gold is seasonally weak at that time....but a 15% drop can occur at any time...and after a runup post-Chinese and Indian buying, it's not exactly Nostradamus to predict weakness.

Of course, if he's way wrong, I doubt he will tell us what he saw that led him to that conclusion.

On the other hand...I've been pretty public with my twin $3,000 by 2030 and $5,000 by 2035 predictions. I've outlined the bullish case for gold -- no/limited CB sales, declining/higher cost mining supply, more demand (doubling every 7-10 years for low-income countries) from India/China/Asia and U.S. and OECD nations -- which means it has a bid underneath and a tailwind to go higher.

BitCoin and crypto are definite negatives -- without them, I think gold is probably low-$3,000's right now.

But previous gold bull cycles have taken the metal up 6-10 fold so I think this bull market (starting from about $1,100) has plenty of price and years to run.

lermish · January 30, 2025 10:13AM

@GoldFinger1969 said:

@lermish said:
Unfortunately gold is going to crash at least 15% in the next two months, I have it on good authority.

Gold is seasonally weak at that time....but a 15% drop can occur at any time...and after a runup post-Chinese and Indian buying, it's not exactly Nostradamus to predict weakness.

Of course, if he's way wrong, I doubt he will tell us what he saw that led him to that conclusion.

On the other hand...I've been pretty public with my twin $3,000 by 2030 and $5,000 by 2035 predictions. I've outlined the bullish case for gold -- no/limited CB sales, declining/higher cost mining supply, more demand (doubling every 7-10 years for low-income countries) from India/China/Asia and U.S. and OECD nations -- which means it has a bid underneath and a tailwind to go higher.

BitCoin and crypto are definite negatives -- without them, I think gold is probably low-$3,000's right now.

But previous gold bull cycles have taken the metal up 6-10 fold so I think this bull market (starting from about $1,100) has plenty of price and years to run.

As is a common occurrence, I agree completely with your analysis. I'm bullish on most commodities and believe we are at the beginning of a bull super cycle.

But I don't particularly care if he or I or you are right or wrong. There is so much noise in the system, particularly when trying to time a prediction, that the vast majority of short term correct or incorrect price predictions of anything can be written off to dumb luck.

But, separate from any distaste I may have for that poster, I HATE when people make iron clad predictions when it comes to something over which they have no control, whether it be gold prices or sports betting or whatever, with no skin in the game. A guarantee? It's pathetic macho posturing with nothing at stake. Less than worthless without anything behind it; show me the short or shut up.

@NorthStar I'm not a big fan of charting. To each their own but I view it like numerology.

NorthStar · January 30, 2025 12:07PM

I've always found charting a nice addition to a fundamental toolbox. Its a nice visual tool to help establish support and resistance. It helps show were the buyers and sellers stand. I better stop here because this is a coin forum.

Elmhurst · January 30, 2025 12:16PM

I’m accepting donations, thank you !

BillJones · January 30, 2025 12:25PM

I thought that the gold price would settle down after the change in administrations. I was kicking myself for buying a type set of modern “eagle head” gold coins. At least for now, that purchase looks okay.

lilolme · January 30, 2025 1:59PM

RedRocket · January 30, 2025 3:53PM

@jmlanzaf said:

@Sanddollar said:
I am banking on pre-1982 cents being worth a fortune one day.

Calculate the transportation costs. Lol

[I won't even mention the opportunity costs. ]

Drive electric. Charge a work. Free transportation.

291fifth · January 30, 2025 4:05PM

Who needs gold when you have parking lot pennies!

Texas77 · January 30, 2025 4:38PM

@NorthStar said:
Wow @lermish that gold chart looks like a double top. Or is it a head and shoulders?
It reminds me of the song by the Clash: Should I Stay or Should I go!

It's only a double top if it fails from here, has not done it yet. Also, don't see a head and shoulders pattern, if anything the chart has a neutral to positive stance. Addressing your comment in a subsequent post, I agree, charts can be very useful, particularly when combined with fundamental analysis.

Elmhurst · January 30, 2025 4:39PM

@Elmhurst said:
I’m accepting donations, thank you !

I stand corrected…Ralph Solomon and Chet Smith, I wish you were to see it !

SoFlo · January 30, 2025 4:42PM

Allow me explain my prediction, quite simple actually -

The United States is going to start drilling again. Mainly in the Gulf of America because the last administration cancelled all of the oil leases in ANWR (Arctic National Wildlife Refuge) which has more oil than Saudi Arabia. This is also why the Gulf of Mexico was recently renamed so we can drill there immediately.
When all of the oil rigs are up and producing, the economy is going to take off like a rocket. In turn, strengthening the Dollar. When the dollar is stronger, the price of gold and silver will drop.

lermish · January 30, 2025 5:13PM

@GoldFinger1969 I have a sneaking suspicion that you don't think those political talking points carry much market or economic relevance?

I do not see eye to eye with that poster on several topics but his "market and economic forecast" is laughable and carries exactly zero weight. I started typing up my analysis and just deleted it, it's pointless and a waste of time.

He can believe whatever he wants to believe. No amount of me saying how ridiculous it is or backing it up will convince him that it's ridiculous. And it is ridiculous. It's random speculation based on political propaganda.

It doesn't change the fact that a "guarantee" is worth absolutely nothing without anything behind it. Just peeing in the wind.

jmlanzaf · January 30, 2025 6:03PM

@Sanddollar said:

@jmlanzaf said:

@Sanddollar said:
I am banking on pre-1982 cents being worth a fortune one day.

Calculate the transportation costs. Lol

[I won't even mention the opportunity costs. ]

Drive electric. Charge a work. Free transportation.

You drive an electric box truck?

RedRocket · January 30, 2025 6:23PM

Holds and transports 1.8 million copper pennies.

Clackamas1 · January 30, 2025 6:44PM

@lermish said:
Unfortunately gold is going to crash at least 15% in the next two months, I have it on good authority.

Do the inverse Cramer trade.

jmlanzaf · January 30, 2025 6:54PM

@Sanddollar said:

Holds and transports 1.8 million copper pennies.

Doubtful. 5000 cents weigh 34 pounds. So 1 million cents would weigh 6800 pounds with a volume of 92 gallons. Can you get 160 gallons and 13000 pounds in that car?

Torey · January 30, 2025 6:58PM

Pretty sure they have an 11k towing capacity.

skier07 · January 30, 2025 7:29PM

@Mizzou said:
Allow me explain my prediction, quite simple actually -

The United States is going to start drilling again. Mainly in the Gulf of America because the last administration cancelled all of the oil leases in ANWR (Arctic National Wildlife Refuge) which has more oil than Saudi Arabia. This is also why the Gulf of Mexico was recently renamed so we can drill there immediately.
When all of the oil rigs are up and producing, the economy is going to take off like a rocket. In turn, strengthening the Dollar. When the dollar is stronger, the price of gold and silver will drop.

By referring to the Gulf of Mexico as the Gulf of America you lost whatever credibility you ever had.

fathom · January 30, 2025 7:37PM

batumi · January 31, 2025 1:27AM

@lermish said:
Unfortunately gold is going to crash at least 15% in the next two months, I have it on good authority.

Well that is what I heard in the tavern!_

RedRocket · January 31, 2025 1:48AM

@skier07 said:

@Mizzou said:
Allow me explain my prediction, quite simple actually -

The United States is going to start drilling again. Mainly in the Gulf of America because the last administration cancelled all of the oil leases in ANWR (Arctic National Wildlife Refuge) which has more oil than Saudi Arabia. This is also why the Gulf of Mexico was recently renamed so we can drill there immediately.
When all of the oil rigs are up and producing, the economy is going to take off like a rocket. In turn, strengthening the Dollar. When the dollar is stronger, the price of gold and silver will drop.

By referring to the Gulf of Mexico as the Gulf of America you lost whatever credibility you ever had.

Settle down.
I am sure people also had the same poor attitude when the Bank Of Italy changed their name to the Bank Of America back on November 3rd, 1930.

RedRocket · January 31, 2025 1:50AM

@jmlanzaf said:

@Sanddollar said:

Holds and transports 1.8 million copper pennies.

Doubtful. 5000 cents weigh 34 pounds. So 1 million cents would weigh 6800 pounds with a volume of 92 gallons. Can you get 160 gallons and 13000 pounds in that car?

Don't be lazy.
Make two trips.

rte592 · January 31, 2025 2:03AM

@lermish said:
Unfortunately gold is going to crash at least 15% in the next two months, I have it on good authority.

??
September 30, 2025 is the National Day for Truth and Reconciliation.
**What is you're Crystal Ball telling you?
**

SoFlo · January 31, 2025 4:12AM

It's really just common sense, don't make things more complicated than what they are.

jmlanzaf · January 31, 2025 5:12AM

@Mizzou said:
It's really just common sense, don't make things more complicated than what they are.

Common sense tells me that no one has a crystal ball.

Texas77 · January 31, 2025 6:05AM

Spot has breached $2,800 this morning

coastaljerseyguy · January 31, 2025 6:28AM

This post belongs in the Precious Metals category.

Goldbully · January 31, 2025 6:39AM

@coastaljerseyguy said:
This post belongs in the Precious Metals category.

Seems to be leaning that way.

Live 24hr. Gold Spot Price

Texas77 · January 31, 2025 6:46AM

@coastaljerseyguy said:
This post belongs in the Precious Metals category.

If we discuss how all the 63 and 64 Saints just increased in market value does that change anything? Just Asking

lermish · January 31, 2025 6:47AM

@Mizzou said:
It's really just common sense, don't make things more complicated than what they are.

SoFlo · January 31, 2025 7:25AM

@lermish said:

@Mizzou said:
It's really just common sense, don't make things more complicated than what they are.

Don't be so hard on yourself Lermish,

SoFlo · January 31, 2025 7:30AM

@jmlanzaf said:

@Mizzou said:
It's really just common sense, don't make things more complicated than what they are.

Common sense tells me that no one has a crystal ball.

I do have a crystal ball, I can read minds and tell the future also. Let me give you a snapshot of the future...

Lermish thinking to himself in 2027
"I should have listened to Mizzou, he was right. HE WAS RIGHT ABOUT EVERYTHING!!!

P0CKETCHANGE · January 31, 2025 8:21AM

Going to a coin show tomorrow. How much should I expect to pay for double eagles in 63/64, with spot at $2813 (as of the time of my post)?

jmlanzaf · January 31, 2025 8:28AM

@Mizzou said:

@jmlanzaf said:

@Mizzou said:
It's really just common sense, don't make things more complicated than what they are.

Common sense tells me that no one has a crystal ball.

I do have a crystal ball, I can read minds and tell the future also. Let me give you a snapshot of the future...

Lermish thinking to himself in 2027
"I should have listened to Mizzou, he was right. HE WAS RIGHT ABOUT EVERYTHING!!!

My crystal ball is not predicting appropriate humility any time soon.

Gold over $2800 an ounce!

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