Gold and Silver Flat for Now?
pmh1nic
Posts: 3,335 ✭✭✭✭✭
I've been stacking since 2018. Over the last year I took some profit (sold about 20% of my stack). That profit has gone into equities that I purchased cheap at the beginning of the year (Nvidia, AMD, Walmart, SMTC, Micron, Coca Cola) that have done very well while the metals have been flat.
Now that the Iran issue has died down, the Big Beautiful Bill has passed, trade deals are being made I don't see any major motivation for gold or silver to make a major move from where the are now. Other than some silver rounds I like I have purchased any gold or purchased silver for stacking. Dealers I've listened to say there are not a lot of buyers and they are dumping inventory to smelters to get cash.
Where is the next major movers for pms coming from?
Comments
I keep trading I.O.U’s for silver and gold. I even turn my social security check into metal. The scrap and overflow does go to the refinery , but they afford me an opportunity to “pool” it so that it is still working for me. Cash , stocks, etc., are just another form of wealth. Still; metal can be flat , rolled, squared and cubed…. It is coined (article 10 section 1 U.S. Constitution ) as money , for the same thing it always was. Money for the satisfaction of debt. Quite boring…., our short history. When the mint marks our coins up 30% over current melt value, it should be an indication of the true value of the dollar. So put it in paper, mutual funds, ETFs , index funds, bitcoin or pick a stock. I’m satisfied with it as money.
``https://ebay.us/m/KxolR5
Short answer : China, as usual.
``https://ebay.us/m/KxolR5
national debt and the dollar's decline
Perhaps the big, beautiful bankruptcy? SMH!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
My local dealer is buying tons of 90% over the counter. TONS. Not a lot of retail buyers, so he's had to sell much of it to wholesalers just to stay liquid. He says gold, on the other hand, is still moving quite well.
Dave
If the BBB holds the debt increase under a trillion a year ($4.1 trillion over 10 years) that would be an average debt of under $500B a years. I think growth is going to take off and if Trump holds the House and JD can win in 2028 we might be able to turn this ship around. A lot of big IFs but we’re in the best situation for those ifs to materialize than we were a year ago.
In my opinion the success of this administration means a flat line for pms. I’m keeping most of my holdings in metals but parking more cash into equities for the next two years.
i thought it was an additional amount over what would exist otherwise
I tried to correct @pmh1nic on the same statement over in the $5K gold discussion.
@MsMorrisine, you are correct, the $4.1T reflects an average $400B dollar deficit per year above the baseline (which is already well over $1T yearly). Total debt increase over next decade with OBBB enacted raises debt by $20T at least. Most people don't even realize that once the debt ceiling is raised by $5T, it will be reached again sometime by 2027.
We thrive on debt. How that makes us rich is beyond me. The debt ceiling is a deeper hole. And the deeper the hole the closer the gold….. I guess.
``https://ebay.us/m/KxolR5
If a ceiling is a hole then a floor is a .......?
Knowledge is the enemy of fear
Taco? THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
I cant speak for reasons or the political issues, but: Locally, silver sales have crashed. Rounds and 90% no buyers, even discounted. Silver eagles still sell somewhat if priced near spot. Large gold 1 oz or larger dead for me, small 1/10th 1/4 oz still decent demand. World gold unless really small and cheap dead.
It's a pretty good time to be buying some silver.
I knew it would happen.
I stand corrected regarding the annual deficits.
That said there isn't a direct correlation between an increase in the deficit and an increase in price of gold. The increase in the federal deficit from 2013-2023 was 150% while the increase in the price of gold over the same period was 39%. Obviously there are other factors involved like the DOW and consumer confidence. Not great but not in the toilet. I think gold and silver have priced themselves to the sell or hold level.
Silver really has some legs this morning.....Over 38.00
Square
It's all about what the people want...
There is always a chill in physical buying when prices run up. ETFs however, are going wild. Play paper on the up swings.
Wait for some guy dancing with a sandwich board that says "We pay cash for gold/silver!" to sell your phyzz.
Loves me some shiny!