It gapped higher so I wonder if the front month contract rolled over. I'm too lazy to look it up. APMEX is showing ~$3090 with futures at $3110 a high of $3115 so far.
@Goldminers said:
The main takeaway from this IMO is that the FOMO trend of selling gold ETF's to chase mag-7 stocks has reversed >and more investment money is moving back into gold ETF's reflecting a desire to hedge portfolios with some gold >again.
It is the recent inflows into the gold ETF's that has helped drive gold demand and kept prices at higher levels. This, >along with continued central bank purchases, may be what helped push gold above $3,000 the past month.
Excellent points. The only negatives for gold that I can see are the higher price itself and some increased supply which I doubt can be an annual occurrence (we'll see).
Sticking (for now) with my $5,000 by 2035 prediction but it might be an outside shot by 2030.
gold is simply reacting to weakening faith in the dollar's ability to hold value. Stock market is finally agreeing. Looks like the days of inflated data may be over: the truth always prevails.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
I think with the silver futures price action of the past few days we're ready for $40 SOON.
Saw this and thought it to make a very interesting point:
Stocks are near record highs, housing prices are near record highs, cryptocurrencies near record highs, gold at an all-time high, but SILVER, the one that is STILL so far below its record high, all while the dollar index is at a record high as well, makes me INCREDIBLY excited about silver!
Looking at the Gold/Silver ratio chart it does look like silver is going to outperform gold for a while here.
@DoubleEagle59 said:
It's a little over $4400 an ounce in your possible 51st State!!
Is that in Canadian dollars or in real dollars?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@GoldFinger1969 said: Comments from a firm with a good track record on gold and commodities:
That's not saying much. A high within 10% of current price in 9 months. If they're only saying $3500, I would suggest that they are actually saying they feel it's close to topping out.
@ProofCollection said:
That's not saying much. A high within 10% of current price in 9 months. If they're only saying $3500, I would suggest >that they are actually saying they feel it's close to topping out.
I think if you read between the lines (or the rest of the report, which I can't post as PDFs can't be posted here !! ).....it's actually saying more upside than downside. You RARELY find Wall Street analysts/strategists super-bullish on gold or commodities, except in the 1970's.
@ProofCollection said:
That's not saying much. A high within 10% of current price in 9 months. If they're only saying $3500, I would suggest >that they are actually saying they feel it's close to topping out.
I think if you read between the lines (or the rest of the report, which I can't post as PDFs can't be posted here !! ).....it's actually saying more upside than downside. You RARELY find Wall Street analysts/strategists super-bullish on gold or commodities, except in the 1970's.
But if that's the case they would predict higher numbers wouldn't they?
It looks like the early US Mint sales for 2025 gold is they are down about 35% from a year ago, or even slightly more. However the price for gold keeps going higher despite lower sales (i am guessing that these sales numbers are also translating to other coins outlets).
So the only reason it appears for the rise is fewer sellers are unloading their gold, because they know they will not be able to buy back in at a lower price. Those that did sell regret it now as well.
At this stage it is probably best to trade in high mintage gold for low mintage gold if possible, in case the price drops in the future. Low mintage to me is 2000 or less. Unfortunately the US Mint appears to have overstruck 2025 coins compared to demand, at least so far this year. They will have to lower numbers if they don't want to be selling 2025 gold coins for a dozen years.
@HalfDime said:
It looks like the early US Mint sales for 2025 gold is they are down about 35% from a year ago, or even slightly more. However the price for gold keeps going higher despite lower sales (i am guessing that these sales numbers are also translating to other coins outlets).
So the only reason it appears for the rise is fewer sellers are unloading their gold, because they know they will not be able to buy back in at a lower price. Those that did sell regret it now as well.
At this stage it is probably best to trade in high mintage gold for low mintage gold if possible, in case the price drops in the future. Low mintage to me is 2000 or less. Unfortunately the US Mint appears to have overstruck 2025 coins compared to demand, at least so far this year. They will have to lower numbers if they don't want to be selling 2025 gold coins for a dozen years.
I just wish the mint would hurry up and issue the 2025 Proof Gold Buffalo before it goes up any more.
It's hard to imagine now with gold premiums so low, but the day will probably come when John Q Public "discovers" gold and demand goes through the roof and numismatic premiums shoot up. Then the TV hucksters will be shilling gold spouse coins and other commems at unbelievable prices... and getting it. That will be the time to sell.
About 25 years ago the gold mining stocks were still being traded for their gold business as a direct proxy on the price of the metal, but once the gold ETFs arrived that money switched away from them. There is probably a gold price that will change the trading in them, but I think it may take a major implosion scenario for it to happen.
PS It was also about 25 years ago that the gold mining companies finally started to remove the hedges they had on production, which had held down the price for gold for many years. Also China opened up to allowing common citizens to own gold. This started the bull run that still lasts to today.
@HalfDime said:
About 25 years ago the gold mining stocks were still being traded for their gold business as a direct proxy on the price of the metal, but once the gold ETFs arrived that money switched away from them. There is probably a gold price that will change the trading in them, but I think it may take a major implosion scenario for it to happen.
Everything is cyclical. Things that are out of favor will have their day again, and vice versa. I think for mining, the sector is particularly challenging. As I understand there's not very much "good ground" left, and the political environment is not very supportive of mining, a double whammy.
PS It was also about 25 years ago that the gold mining companies finally started to remove the hedges they had on production, which had held down the price for gold for many years. Also China opened up to allowing common citizens to own gold. This started the bull run that still lasts to today.
The world as a whole views gold differently now. 20 years ago it was a relic, something banks (including central banks) and Wall St wanted to get rid of and laughed at. Now the opinion is quite the opposite.
@HalfDime said:
About 25 years ago the gold mining stocks were still being traded for their gold business as a direct proxy on the price of the metal, but once the gold ETFs arrived that money switched away from them. There is probably a gold price that will change the trading in them, but I think it may take a major implosion scenario for it to happen.
Everything is cyclical. Things that are out of favor will have their day again, and vice versa. I think for mining, the sector is particularly challenging. As I understand there's not very much "good ground" left, and the political environment is not very supportive of mining, a double whammy.
PS It was also about 25 years ago that the gold mining companies finally started to remove the hedges they had on production, which had held down the price for gold for many years. Also China opened up to allowing common citizens to own gold. This started the bull run that still lasts to today.
The world as a whole views gold differently now. 20 years ago it was a relic, something banks (including central banks) and Wall St wanted to get rid of and laughed at. Now the opinion is quite the opposite.
.
If something was once in favor, then fell out of favor, and then comes back into favor (like gold), perhaps that bodes well for ...
.
.
.
wait for it ...
.
.
.
Stamp collecting.
.
Actually, I hope so, because I have a bunch of stamps.
I wish the mining stocks were cyclical, but 25 years ago on the business channel the first thing they brought up when the price of gold went up was the mining stocks. Now they bring up the gold ETFs instead. Many of the mining stocks have more than just one metal to worry about as well. De Beers was purchased by a mining stock years ago, and now it is losing billions of dollars. Mining stocks in South Africa have to dig deeper and deeper for every new ounce they want to extract, so it increases costs. The easy money is made early in the life of a mine.
If something was once in favor, then fell out of favor, and then comes back into favor (like gold), perhaps that bodes well for ...
I never knew that gold ever fell out of favor. I learned something new today.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Comments
That $8 billion of gold redemption for GLD was just in the last Q of CY2024...
front month futures are right now 3115
i think in these auspicious times the thread title should be live updated
thank you
I'm slacking tonight. $3100+!
http://ProofCollection.Net
just kidding
it broke 3100 sometime this afternoon
been edging higher all night
don't know what will happen after 8:30 tomorrow
It gapped higher so I wonder if the front month contract rolled over. I'm too lazy to look it up. APMEX is showing ~$3090 with futures at $3110 a high of $3115 so far.
I didn't see silver hit $35.75 earlier, wow.
http://ProofCollection.Net
declining to name my broker, but the "day 2" started at 6pm globex open. the "27th" was the first day of the new front month
i'm guesstimating a $25 gap
Excellent points. The only negatives for gold that I can see are the higher price itself and some increased supply which I doubt can be an annual occurrence (we'll see).
Sticking (for now) with my $5,000 by 2035 prediction but it might be an outside shot by 2030.
gold is simply reacting to weakening faith in the dollar's ability to hold value. Stock market is finally agreeing. Looks like the days of inflated data may be over: the truth always prevails.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
I think with the silver futures price action of the past few days we're ready for $40 SOON.
Saw this and thought it to make a very interesting point:
Looking at the Gold/Silver ratio chart it does look like silver is going to outperform gold for a while here.
http://ProofCollection.Net
It's a little over $4400 an ounce in your possible 51st State!!
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Is that in Canadian dollars or in real dollars?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
$3150 tonight.
http://ProofCollection.Net
Now over $100 / gram!
Close to $60 / gram for 14K scrap. I think the melting pot is getting busy...
Comments from a firm with a good track record on gold and commodities:
That's not saying much. A high within 10% of current price in 9 months. If they're only saying $3500, I would suggest that they are actually saying they feel it's close to topping out.
http://ProofCollection.Net
I think if you read between the lines (or the rest of the report, which I can't post as PDFs can't be posted here !!
).....it's actually saying more upside than downside. You RARELY find Wall Street analysts/strategists super-bullish on gold or commodities, except in the 1970's. 
But if that's the case they would predict higher numbers wouldn't they?
http://ProofCollection.Net
It looks like the early US Mint sales for 2025 gold is they are down about 35% from a year ago, or even slightly more. However the price for gold keeps going higher despite lower sales (i am guessing that these sales numbers are also translating to other coins outlets).
So the only reason it appears for the rise is fewer sellers are unloading their gold, because they know they will not be able to buy back in at a lower price. Those that did sell regret it now as well.
At this stage it is probably best to trade in high mintage gold for low mintage gold if possible, in case the price drops in the future. Low mintage to me is 2000 or less. Unfortunately the US Mint appears to have overstruck 2025 coins compared to demand, at least so far this year. They will have to lower numbers if they don't want to be selling 2025 gold coins for a dozen years.
I just wish the mint would hurry up and issue the 2025 Proof Gold Buffalo before it goes up any more.
It's hard to imagine now with gold premiums so low, but the day will probably come when John Q Public "discovers" gold and demand goes through the roof and numismatic premiums shoot up. Then the TV hucksters will be shilling gold spouse coins and other commems at unbelievable prices... and getting it. That will be the time to sell.
Brakes?
http://ProofCollection.Net
.
would be quite difficult to shill first spouses since finding most of them in quantity is quite difficult
Junior gold miner ETF GDXJ is likely a good bargain. Fifteen year chart:
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
free is looking good to me!
About 25 years ago the gold mining stocks were still being traded for their gold business as a direct proxy on the price of the metal, but once the gold ETFs arrived that money switched away from them. There is probably a gold price that will change the trading in them, but I think it may take a major implosion scenario for it to happen.
PS It was also about 25 years ago that the gold mining companies finally started to remove the hedges they had on production, which had held down the price for gold for many years. Also China opened up to allowing common citizens to own gold. This started the bull run that still lasts to today.
Everything is cyclical. Things that are out of favor will have their day again, and vice versa. I think for mining, the sector is particularly challenging. As I understand there's not very much "good ground" left, and the political environment is not very supportive of mining, a double whammy.
The world as a whole views gold differently now. 20 years ago it was a relic, something banks (including central banks) and Wall St wanted to get rid of and laughed at. Now the opinion is quite the opposite.
http://ProofCollection.Net
.> @ProofCollection said:
.
If something was once in favor, then fell out of favor, and then comes back into favor (like gold), perhaps that bodes well for ...
.
.
.
wait for it ...
.
.
.
Stamp collecting.
.
Actually, I hope so, because I have a bunch of stamps.
I wish the mining stocks were cyclical, but 25 years ago on the business channel the first thing they brought up when the price of gold went up was the mining stocks. Now they bring up the gold ETFs instead. Many of the mining stocks have more than just one metal to worry about as well. De Beers was purchased by a mining stock years ago, and now it is losing billions of dollars. Mining stocks in South Africa have to dig deeper and deeper for every new ounce they want to extract, so it increases costs. The easy money is made early in the life of a mine.
I never knew that gold ever fell out of favor. I learned something new today.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire