Gold prices

dewcon · Mar 12, 2020

And they put Madoff in jail for that.

beachclad · Mar 12, 2020

Steve said:
A little over $16,000,000,000 in paper gold contracts sold at the open today. That's not people selling gold or closing out longs. Thats $16,000,000,000 in paper contracts conjured out of thin air and thrown at the gold market. All at once. ... to do the most damage possible.
Roger rabbit, dick tracy and colonel Sanders will be hard at work investigating these fraudulent actions for the foreseeable future.

Where are you seeing the $16B?

Today's volume was 4,399. Each contract is 100 oz. of gold.

4,399 x 100 x $1,600 = $703.8 million worth of gold traded today.

Gold usually doesn't go up during market crashes. Everything sells off except government bonds.

Did you see the move in Palladium? From $2,700/oz. on Feb. 27 to $1,770.

Finding a PD ring was #1 on my bucket list at $2,700, but at this pace it won't be for long.

Steve · Mar 13, 2020

beachclad said:
Where are you seeing the $16B?

Today's volume was 4,399. Each contract is 100 oz. of gold.

4,399 x 100 x $1,600 = $703.8 million worth of gold traded today.

Gold usually doesn't go up during market crashes. Everything sells off except government bonds.

Did you see the move in Palladium? From $2,700/oz. on Feb. 27 to $1,770.

Finding a PD ring was #1 on my bucket list at $2,700, but at this pace it won't be for long.

COT. You don't get an $80 drop on 4000 contracts. Red number at the bottom is contract numbers.
PD is nearly impossible to naked short. Price drop was likely longs closing out positions

dewcon · Mar 24, 2020

Is gold on the move....... i see it jumped $108 this morning? WOW.... its now $1659. Thou that kind of jump is never a good sign of our economy. This may be another one of those fast moving gold buys making it go up to the magic $1900 again.

Steve · Mar 24, 2020

dewcon said:
Is gold on the move....... i see it jumped $108 this morning? WOW.... its now $1659. Thou that kind of jump is never a good sign of our economy. This may be another one of those fast moving gold buys making it go up to the magic $1900 again.

Dew long term chart is $2200 and change. It will get there eventually :laughing:

. If 8t blows through $2300 like it's nothing this is going to be a massive bull run.
Mints and mines are closed around the world right now. Phyz short squeeze is ripe for the picking.

garviso8 · Mar 26, 2020

And also have you noticed how as soon as the price of gold went up supply mysteriously appeared out of no where, when it was hard to find. A day ago.

Beachhunter · Mar 26, 2020

garviso8 said:
And also have you noticed how as soon as the price of gold went up supply mysteriously appeared out of no where, when it was hard to find. A day ago.

Yep!

dewcon · Mar 27, 2020

It always concerns me spending a lot of paper money .... for a piece of paper. Like someone else said..... im not in the stock market i like THINGS (i can put my hands on.) Pretty simple if you dont have a run on them to print um all day long...... surely someone oversees this?

KOB · Mar 27, 2020

dewcon said:
It always concerns me spending a lot of paper money .... for a piece of paper. Like someone else said..... im not in the stock market i like THINGS (i can put my hands on.) Pretty simple if you dont have a run on them to print um all day long...... surely someone oversees this?

For the people who believe in the "I like things , I can touch , use , etc" mentality....well guess what , you ARE in the stock market. Just at the lowest level !!! No different than the people who say they don't or have never gambled. Well...guess what....every day you get out of bed , get in your car or walk across the street: you're gambling !

Steve · Apr 6, 2020

Another 5 or $600 spike and I might start considering to sell a little.

amc rulz · Apr 8, 2020

Steve said:
Another 5 or $600 spike and I might start considering to sell a little.

Trade your precious for paper? :lol:

Steve you know better than that!

Steve · Apr 8, 2020

amc rulz said:
Trade your precious for paper? Steve you know better than that!

Price hit an upper target. I knew the drop was coming. I still didn't sell any actual gold. Paper traded some silver and bought a few lbs of phyz... sold the paper to lower my overall cost。
Not riding it down though

Beachhunt1 · Apr 8, 2020

So a Question. Is everyone getting a 1099 when they sell?

Thanks Dave

dewcon · Apr 8, 2020

Nope.... but I’d be careful about selling to much in the 10 gran range. Homeland security keeps an eye on it i was told. All seemed for when it got high and there were a lot of cash for gold fly by night people and drug people.

amc rulz · Apr 8, 2020

Beachhunt1 said:
So a Question. Is everyone getting a 1099 when they sell?

Thanks Dave

What is this selling you speak of? I don’t hold gold to sell. I can’t think of any reason to, unless you’re broke.

3.14R8 · Apr 9, 2020

I've been saving gold for a rainy day. Well that rainy day came being "locked down" and a couple of unexpected large bills came in. I just sold enough for a few months of bills. Yes this great hobby just saved my A$$ again!!!!! Good Luck everyone!!

amc rulz · Apr 9, 2020

3.14R8 said:
I've been saving gold for a rainy day. Well that rainy day came being "locked down" and a couple of unexpected large bills came in. I just sold enough for a few months of bills. Yes this great hobby just saved my A$$ again!!!!! Good Luck everyone!!

Gold is good for that. Good luck to you also!

Beachhunt1 · Apr 9, 2020

amc rulz said:
What is this selling you speak of? I don’t hold gold to sell. I can’t think of any reason to, unless you’re broke.

Good for you, but I sell high and buy low. I am not keeping it till I die.

Beachhunt1 · Apr 9, 2020

dewcon said:
Nope.... but I’d be careful about selling to much in the 10 gran range. Homeland security keeps an eye on it i was told. All seemed for when it got high and there were a lot of cash for gold fly by night people and drug people.

DEW, when is the last time you sold gold? And was it over $500???/ I know at least at one refinery it is required to give them your SS#

When I sold some gold 5 years ago or so, I did get a 1099.

So I ask AGAIN, Has anyone that has sold gold last year did they get a 1099? OR have the rules changed?

Thanks Dave

KOB · Apr 9, 2020

Beachhunt1 said:
DEW, when is the last time you sold gold? And was it over $500???/ I know at least at one refinery it is required to give them your SS#

When I sold some gold 5 years ago or so, I did get a 1099.

So I ask AGAIN, Has anyone that has sold gold last year did they get a 1099? OR have the rules changed?

Thanks Dave

THE KOB has sold physical gold 5 times over the last 2 years. Never , Never , EVER has he had it 1099d. You are either doing it wrong , selling to the wrong guy OR you have massive quantities that is difficult to unload in smaller increments. ALWAYS , ALWAYS , ALWAYS get CASH ! No checks , No ETs.

Your welcome , THE KOB

Disclaimer: THE KOB is not a financial advisor, nor registered with anybody , always do it legally !

Gold prices

dewcon

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Steve

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