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.
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
@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.
for it being almost midnight in the usa ... (asia is open, but they also have their own mkts) ... the volume overnight is on par with regular trading hours
@Clackamas1 said:
I use it as a hedge against inflation.
There are much better hedges against inflation. Gold should do OK but it's not the 1970's anymore.
I think gold moves up even IF inflation stays low. It's a supply/demand issue and it's going higher.
Lots higher.
You make a good point—things are different now compared to the 1970s. Gold might not be the go-to inflation hedge it used to be, but it’s still a solid safe haven.
I agree that supply and demand are driving it. With central banks buying more and folks looking for stability in uncertain times, I think gold’s got plenty of room to climb, no matter what inflation does. What do you think—are central banks the big reason behind the demand?> @derryb said:
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.
Yeah, it’s pretty clear that gold’s jump is a reaction to growing doubts about the dollar and the economy. People have always turned to gold when inflation and uncertainty start creeping in. Now the stock market is finally catching up, and we’re seeing the effects. Hard to ignore the fact that gold has held its value for centuries while paper money keeps losing purchasing power.
I'm hoping for a further $300 to $500 drop in Gold so I can buy more.
Gold to silver ratio at 96:1 is crazy........trading your gold for silver right now, to me, is a no brainer that may not pay off in the short term, but long term will make you extremely happy.
"Gold is money, and nothing else" (JP Morgan, 1912)
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
@MsMorrisine said:
3200 on front month futures contract
WTF? Futures contracts don't count. Only real time prices count.
Why would you say that? Someone in the world bought 1000oz of gold for delivery in May at $3201.6 last night. Why doesn't that count?
Because the person that bought that 1000 ounces bought it on paper and will never take delivery?
That is just my guess.
I'm not sure how that's relevant. They paid $3201.6/oz, and if they sold it this morning at a loss because now someone else owns the contract that was originally purchased at $3201.6. Nothing changes the fact that someone thought buying gold at $3201.6 was a good idea and they did it which establishes a new high price.
@MsMorrisine said:
3200 on front month futures contract
WTF? Futures contracts don't count. Only real time prices count.
Why would you say that? Someone in the world bought 1000oz of gold for delivery in May at $3201.6 last night. Why doesn't that count?
Because the person that bought that 1000 ounces bought it on paper and will never take delivery?
That is just my guess.
I'm not sure how that's relevant. They paid $3201.6/oz, and if they sold it this morning at a loss because now someone else owns the contract that was originally purchased at $3201.6. Nothing changes the fact that someone thought buying gold at $3201.6 was a good idea and they did it which establishes a new high price.
My assertion would be that they are not buying gold, they are buying a piece of paper. Nobody is paying futures price for physical gold. They are paying for the speculation of a future price.
I'll go with AI -
"As of today, April 3, 2025, the highest price gold has ever been in US dollars is $3,167.77 per ounce, which occurred in April 2025. "
@MsMorrisine said:
3200 on front month futures contract
WTF? Futures contracts don't count. Only real time prices count.
Why would you say that? Someone in the world bought 1000oz of gold for delivery in May at $3201.6 last night. Why doesn't that count?
Because the person that bought that 1000 ounces bought it on paper and will never take delivery?
That is just my guess.
I'm not sure how that's relevant. They paid $3201.6/oz, and if they sold it this morning at a loss because now someone else owns the contract that was originally purchased at $3201.6. Nothing changes the fact that someone thought buying gold at $3201.6 was a good idea and they did it which establishes a new high price.
My assertion would be that they are not buying gold, they are buying a piece of paper. Nobody is paying futures price for physical gold. They are paying for the speculation of a future price.
A contract to purchase is pretty much the same thing as actually buying. I guess when you sign a purchase contract for real estate you are buying a piece of paper because you might not take possession for 30 days? Yes, some people buy gold futures to speculate, and some people actually take delivery. I don't see why having a portion of the buyers be speculators makes it any less valid. Additionally, many sellers sell with futures contracts as well. The near month contracts have very little time premium which is why I consider those prices to be just as valid as any OTC price.
I'll go with AI -
"As of today, April 3, 2025, the highest price gold has ever been in US dollars is $3,167.77 per ounce, which occurred in April 2025. "
@MsMorrisine said:
3200 on front month futures contract
WTF? Futures contracts don't count. Only real time prices count.
That's how I feel as well. What is the highest price "TODAY" FOR "TODAY".
When I saw it was based on "futures contract", I just say "Ah..." and move on from thinking this thread is relevant to 99% of the people watching and caring about current gold prices
Is it cheaper to just buy the futures contracts vs physical? Every time I buy one at a local coin shop I pay a 3% premium over spot. paper sales have a 3% premium? Never bought one before. Do they have a fee to deliver when requested?
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+!
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.
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.
Capital investment depends on confidence. - Martin Armstrong
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.
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.
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.
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.
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?
.
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:
Capital investment depends on confidence. - Martin Armstrong
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.
.> @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
Updated for $3200.
To the best of my knowledge Gold has been on a 5,000 year winning streak.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Very good example....
Using what measuring stick?
@OnlyGoldIsMoney said “To the best of my knowledge Gold has been on a 5,000 year winning streak.”
As a store of value, absolutely. As an investment, not so much.
Where are you seeing it hit $3200 and when?
Highest I've seen on Kitco is ~$3163...today, after hours
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
3200 on front month futures contract
Ah
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
for it being almost midnight in the usa ... (asia is open, but they also have their own mkts) ... the volume overnight is on par with regular trading hours
WTF? Futures contracts don't count. Only real time prices count.
You make a good point—things are different now compared to the 1970s. Gold might not be the go-to inflation hedge it used to be, but it’s still a solid safe haven.
I agree that supply and demand are driving it. With central banks buying more and folks looking for stability in uncertain times, I think gold’s got plenty of room to climb, no matter what inflation does. What do you think—are central banks the big reason behind the demand?> @derryb said:
Yeah, it’s pretty clear that gold’s jump is a reaction to growing doubts about the dollar and the economy. People have always turned to gold when inflation and uncertainty start creeping in. Now the stock market is finally catching up, and we’re seeing the effects. Hard to ignore the fact that gold has held its value for centuries while paper money keeps losing purchasing power.
Nice pullback this morning.
I'm hoping for a further $300 to $500 drop in Gold so I can buy more.
Gold to silver ratio at 96:1 is crazy........trading your gold for silver right now, to me, is a no brainer that may not pay off in the short term, but long term will make you extremely happy.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Why would you say that? Someone in the world bought 1000oz of gold for delivery in May at $3201.6 last night. Why doesn't that count?
Because the person that bought that 1000 ounces bought it on paper and will never take delivery?
That is just my guess.
I'm not sure how that's relevant. They paid $3201.6/oz, and if they sold it this morning at a loss because now someone else owns the contract that was originally purchased at $3201.6. Nothing changes the fact that someone thought buying gold at $3201.6 was a good idea and they did it which establishes a new high price.
My assertion would be that they are not buying gold, they are buying a piece of paper. Nobody is paying futures price for physical gold. They are paying for the speculation of a future price.
I'll go with AI -
"As of today, April 3, 2025, the highest price gold has ever been in US dollars is $3,167.77 per ounce, which occurred in April 2025. "
A contract to purchase is pretty much the same thing as actually buying. I guess when you sign a purchase contract for real estate you are buying a piece of paper because you might not take possession for 30 days? Yes, some people buy gold futures to speculate, and some people actually take delivery. I don't see why having a portion of the buyers be speculators makes it any less valid. Additionally, many sellers sell with futures contracts as well. The near month contracts have very little time premium which is why I consider those prices to be just as valid as any OTC price.
You do you.
That's how I feel as well. What is the highest price "TODAY" FOR "TODAY".
When I saw it was based on "futures contract", I just say "Ah..." and move on from thinking this thread is relevant to 99% of the people watching and caring about current gold prices
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Is it cheaper to just buy the futures contracts vs physical? Every time I buy one at a local coin shop I pay a 3% premium over spot. paper sales have a 3% premium? Never bought one before. Do they have a fee to deliver when requested?