Gold and silver prices are down

I bought my only gold eagle a few years back, a bit over $1300. I only bought it because I like the look of it and if I cared about value, I'd sell it now and wait to replace it when gold goes down to the $700 - $600 range. Leave yourself a note to check page 100 of this thread so you remember where you heard it!

It costs companies $800-1000 to mine an ounce of gold. To get it for $600-700 you'd probably have to open your own mine.

I saw something I haven't seen before, Apmex posted "special price" sales, and the price was the same as normal. Never seen that before, kinda weird. Companies simply aren't selling at these prices, or aren't discounting from their usual $100 over spot kind of pricing. The paper market can keep driving the price down, but if physical remains at these prices, the paper market will not be able to go lower.

My prediction is we'll test the 2015 lows before the bottom is in, so we'll see $1080-1125 gold and $13 silver. Maybe after the Sept fed meeting shows everyone the Fed is not turning dovish, or maybe in December when it's tax loss season (people will sell their loser stocks like gold miners).
 
Closed for the weekend at 14.06! Should I make a big silver purchase this weekend or do you think it' going $13s next week?

We're in a short-term rally in gold/silver, don't go for the bait. You'll see sub $14, but if you're hooked into Ebay Bucks you can get silver Eagles for $16 or Maples for $15 today, hard to beat that.
 
Got some advertising today from eBay. No deals to be had on PM's. Most everything seems to be $75-$100 above spot.

In general, when I see this it indicates they expect a short term bump in prices. If there are lots of deals to be had, generally it means they expect lower prices. $25 above spot is not uncommon when the dealers are trying to move inventory.

YMMV...
 
We're in a short-term rally in gold/silver, don't go for the bait. You'll see sub $14, but if you're hooked into Ebay Bucks you can get silver Eagles for $16 or Maples for $15 today, hard to beat that.
Interest rates are rising and dollar is falling. Do you perceive those as short term trends or longer term trends? You're much better than I am at these predictions.
 
Got some advertising today from eBay. No deals to be had on PM's. Most everything seems to be $75-$100 above spot.

In general, when I see this it indicates they expect a short term bump in prices. If there are lots of deals to be had, generally it means they expect lower prices. $25 above spot is not uncommon when the dealers are trying to move inventory.

YMMV...

Yeah, both the PMs and paper gold/silver are rallying. I think it's a dead cat bounce - traders are probably expecting the Fed to go dovish in the Sept 25-26 meeting, despite them being consistently hawkish at each meeting. Hope springs eternal on Wall St.

So when the Fed reiterates its full on hawkish stance, gold/silver's rally will crash to earth. I think you'll get better prices after that meeting, and maybe even better ones in December's tax loss season, but I'm not gonna wait for that if prices tank.
 
Interest rates are rising and dollar is falling. Do you perceive those as short term trends or longer term trends? You're much better than I am at these predictions.

Yeah, as I said above I think it's short term, perhaps due to hope for dovish talk at the Sept meeting. Also seems like China and emerging markets are rallying despite the trade war escalations. I think it's all short term dead cat bounces. Dollar is still going up medium term, barring either an agreement with China, or a turnaround in Fed stance. Neither is likely imo.
 
I went to Boston Bullion this morning to buy some silver eagles, but he was closed, closed as in his sign was down, office was empty and a large for lease sign over the windows. He didn't have a sign saying where he moved to.
I'm guessing that he went back to his old business model of meeting you somewhere by appointment.
 
I guess you can hold it in your hand like gold and silver... sort of.

iu
 
I imagine that business is either feast or famine. He had a lot of overhead expenses to support during famine times.

I'll bet there's also a lot more online purchases, taking biz away from them. There are a number of companies with solid reputations out there, such as Apmex. They stand behind their product in my experience.




I went to Boston Bullion this morning to buy some silver eagles, but he was closed, closed as in his sign was down, office was empty and a large for lease sign over the windows. He didn't have a sign saying where he moved to.
I'm guessing that he went back to his old business model of meeting you somewhere by appointment.
 
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What's happening that will cause Ripple i particular to explode?

thx

It would take way too long to explain in a post.

Check out of few of that latest videos on this channel: Digital Asset Investor

This is also a good video, but dry.
View: https://youtu.be/nSwSJQf1FOg


Ripple has over 100 banks using their software, but without using the digital asset XRP. What's expected to cause the growth explosion is when they flip the switch and start using the XRP token which is expected to be announced at Ripple's Swell conference which is tomorrow and Tuesday. By using XRP banks will save 40-70% of the cost of cross border remittances and will no longer need to tie up liquidity in Nostro and Vostro accounts.

Digital assets are in the infancy stage now and will eventually replace paper currency. There are thousands of digital assets, Bitcoin being the most well known, but very few have a solid use case and XRP has the most solid IMO.

Now is the early adoption stage, getting in now would be like buying Google stock back when people were using modems to connect to the internet.

But do your own research and only invest what you are willing to lose. The crypto space is highly speculative and extremely volatile. Some of that will be mitigated by tokens that have a solid use case once the market matures.
 
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It would take way too long to explain in a post.

Check out of few of that latest videos on this channel: Digital Asset Investor

This is also a good video, but dry.
View: https://youtu.be/nSwSJQf1FOg


Ripple has over 100 banks using their software, but without using the digital asset XRP. What's expected to cause the growth explosion is when they flip the switch and start using the XRP token which is expected to be announced at Ripple's Swell conference which is tomorrow and Tuesday. By using XRP banks will save 40-70% of the cost of cross border remittances and will no longer need to tie up liquidity in Nostro and Vostro accounts.

Digital assets are in the infancy stage now and will eventually replace paper currency. There are thousands of digital assets, Bitcoin being the most well known, but very few have a solid use case and XRP has the most solid IMO.

Now is the early adoption stage, getting in now would be like buying Google stock back when people were using modems to connect to the internet.

But do your own research and only invest what you are willing to lose. The crypto space is highly speculative and extremely volatile. Some of that will be mitigated by tokens that have a solid use case once the market matures.


It’s more akin to buying a random internet stock in 1995. Yeah, you might get Google, but way more likely you’ll get Pets.com.
 
Digital assets are the new gold/silver. Look into Ripple XRP. It is going to explode in the 4th quarter.

XRPUSD - Ripple Price Chart — TradingView

Gold is first mentioned in the Bible in Genesis 2:11. That’s page number 2 of my Bible. Historians date that portion of the Bible to around 3,500 years ago. Cryptocurenncies have held their value for how many years now? Maybe ripple is solid technology. I wouldn’t be a good judge of that. It might be an attractive if risky investment. Again, I wouldn’t be a good judge of that. But I don’t see how these cryptocurrencies are similar to or new replacements for gold and silver.
 
Maybe Chinese Aggression?

Chinese warship nearly hits U.S. destroyer in South China Sea near disputed islands
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Noticed that the Canadian dollar has bounced up a bit recently. Is the US dollar under pressure?

Because of the new NAFTA? I think the dollar has two strong pushes, down from the massive US deficits, and up from high interest rates and all the havoc that is causing overseas.

So the dollar is just sitting in a trading range til one of these issues is resolved, and we know which one that will be.
 
Gold up today $27 or so, or 2.25%. Silver up .28 cents, or about 1.9%.

Emotional reaction to falling stock market? Flight to "safety"?
 
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