metaladdict
Elite Member
Today at $2051.00! Time to sell!
Gold price!
- Thread starter metaladdict
- Start date
markinmichigan
Forum Supporter
Just think about it, a mere 7 years ago, 2016, spot was just under $1,200 OZ. Had you invested in gold in 2016, you would have been up more than 50%, That means if you invested $50,000 in gold years ago, you would be sitting on $75,000 now. Gold pays no dividends or income, all speculation. All in US DOLLARS.
Gold will continue to march upwards because it has no counterpoint. Imagine getting dropped into a random village somewhere in the world. You won’t be in danger and there will be opportunities to trade for goods with locals, but you won’t necessarily be able to speak the language. Make a list of five items you’d like to bring with you as currency.
There's no sideways, gold wins against every currency. Anyone else? I'm thinking $2,500+
Mark in Michigan
Gold will continue to march upwards because it has no counterpoint. Imagine getting dropped into a random village somewhere in the world. You won’t be in danger and there will be opportunities to trade for goods with locals, but you won’t necessarily be able to speak the language. Make a list of five items you’d like to bring with you as currency.
There's no sideways, gold wins against every currency. Anyone else? I'm thinking $2,500+
Mark in Michigan
FreeBirdTim
Elite Member
It should go up more, but the commodities market is manipulated. They tank silver whenever it hits $25 and they tank gold whenever it hits 2k. Just the way it's been for years. The commodities market is almost as corrupt as the stock market and the incredibly ridiculous crypto market.
Rock Jock
Elite Member
If gold were to account for every dollar out there you would be astounded at what an ounce would be worth. As it is, it is again approaching record valuation in dollars. It needs $2063+ change cited as "spot" to take out the record. If the ETFs (such as GLD) were not used to control (manipulate) the paper price of gold, you would likely see the price much higher during inflation spikes. If you go for gold, go for minted gold bullion coins such as gold eagles, buffalos or maple leafs, preferably in the random year one ounce size to minimize sovereignty costs. While valuable numismatics are nice to find, it is the bullion you want to secure when you buy. Premiums are usually down when coin value goes up (like now!) and up when opposite. With higher prices dealers need less cushion I guess. Seems like people (gold bugs) will hold onto their bullion coins unless they are in dire straits. Silver bullion coins are pocket change.
I agree but silver is going to hit 26 then get slam down to 23 again it's just a controlled market by paper silver .sube
IDXMonster
Elite Member
For the limited real world uses (industry) that gold is good for, it’s almost stunning that gold and silver prices aren’t reversed. Also, I‘d have to assume that there are silver mines that shutter when prices go below a certain amount and re-open when they go up. So there’s essentially a tap already in place, and the other tap is private resources in bullion. Remember when silver went to 28$ an ounce because of Reddit? I sold a kilo of silver cull coins right as it spiked, the most I’ll probably ever see. The exact reason why the silver market is artificially screwed with might have to do with its uses in government backed projects….can’t say. It’s incredibly frustrating though to see it constantly NOT able to reach its real apparent potential. Watch, they’ll let it go, it’ll go sky high and then the government will make it illegal to own more than 100$ worth.
Tom_in_CA
Elite Member
- Joined
- Dec 23, 2013
- Messages
- 21,645
Conversely, there's persons who bought when it was high, and for economic reasons had to sell when it was low. And : Took a bath. So your narrative can work the other way too.
I knew a guy who bought a BUNCH of silver in 1980 (when it reached 20x face). Swearing that it would "only go up". The poor guy was forced to sell about 10 yrs. later (d/t he needed some of his investment back). Needless to say, he took a big bath
Martin_V3i
Elite Member
I remember silver hitting 45 back in 2012 right after I started metal detecting. That didn't last long. I sure thought I'd picked the perfect hobby.
Cherry Picker
Forum Supporter
I sold a good amount of my gold back around 2012. Wish I had it now.
hoser
Forum Supporter
I'm stoked! If I sold all my gold I could take the wife out for a good meal at Red Lobster. WOOHOO!
Gold hit $46.00 an ounce in the mid '80's as I recall and I dumped my pile to buy an outboard for my fishing boat! I could retire as a world traveler living on a cruise ship had I sold it today!!!
CJ
Silver mines don't shut down they have to mine the best grade they have , they have bills to pay and shutting down would cost them to much to restart and put them farther in debt , Actually they mine more and higher grade silver deposits when the price is low making price go down farther , Then when the price is high they mine lower grade deposits because now there worth to mine opposite of what one would think same for gold . Flood the market when price is low tighten the supply when price is high .I did sell a crapload in 80 when it spiked smartest thing I did I actually was making money for a while but that ended fast . sube
FreeBirdTim
Elite Member
Yup, I remember my parents selling all their Sterling silver and junk silver coins back then. It was a good windfall for them during tough times...
diggin4clad
Elite Member
I was buying gold in 2000-2004 when it was around $350. Just remember though, gold and other precious metals are subject to price fluctuations, both up and down. Like always buy when it's on the downside and sell when it's up.
diggin4clad
Elite Member
diggin4clad
Elite Member
I dumped a pile of silver back in 1980 when it hit around $45-50 per ounce. It tanked shortly after because the high price was a result of the Hunt Brothers manipulating the market.
Cherry Picker
Forum Supporter
I remember my Dad fell for that. He kept telling us to invest in silver because it was going way up then the Hunt Brothers were pulling their stunt.
Remember the saying a few years back: Silver is the new gold...when it hit 20 bucks an ounce, which was the classic price for gold when the US government was its controller. That is when KT started CRHing for silver halves. HA HA, so no matter if it cycliable, up or down, KT did that for 7 years, until Covid hit and the banks ruined it for Him. Now KT continues to purchase half dollar silver coins off eBay....sure he has to bid on 30 items, but KT never pays a large premium...silver is silver. Whoever cashes out KT's Royal Hoard, will get what the Refineries are willing to pay. Leaving a hoard for His Royal Progeny to deal with! Stay tuned for the early January accounting to see what KT stacked in 2023!
And for those who cashed out their silver coins when the Hunt brothers were trying to corner the market on silver....when it all crashed, you should have poured everything you profited back into the crashed market! Principle rule.....buy low, sell high! Unless you are an average upper! HA HA
And for those who cashed out their silver coins when the Hunt brothers were trying to corner the market on silver....when it all crashed, you should have poured everything you profited back into the crashed market! Principle rule.....buy low, sell high! Unless you are an average upper! HA HA
Cherry Picker
Forum Supporter
I wish I'd taken all the clad I found and invested it in buying gold & silver. I'd have a really good stash right now after 50 years.
