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Gold and silver prices are down



I noticed in the replies to this tweet that another guy was saying XRP is the investment for the future. A different guy was talking about how Bitcoin is the new gold
 
Cryptocurrencies have enjoyed significant growth during our good economic times.

However they have no history during a bad economic time. That will show what they are made of...

Win said:


I noticed in the replies to this tweet that another guy was saying XRP is the investment for the future. A different guy was talking about how Bitcoin is the new gold
Click to expand...
 
richc said:
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"?
Click to expand...

That's a great question - the stock market tanking is relatively easy to understand I think, it's related to the Fed reiterating that they haven't softened their stance one bit, despite the market bending over backwards to interpret the Fed speak as dovish.

But why is gold/silver going up, and dollar going down? If the Fed is getting more hawkish, the opposite should happen.

Inflation came in a little lower than expected, that could be part of it. But I think the real reason is that traders are still telling themselves the Fed hasn't changed, they will still bail the market out, and will change their tune on raising rates when they see stocks tanking. Investors have become addicted to a dovish Fed, and will convince themselves any way they can, that the Fed still has their back. So stocks tanking is good news for stocks! It's the same thinking that has driven the stock market to crazy highs.

If that's the case, then the stock correction, and the gold/silver rally are probably short-lived.
 
Varmint said:
But why is gold/silver going up, and dollar going down? If the Fed is getting more hawkish, the opposite should happen.
Click to expand...

Exactly... rising interest rates should lead to a stronger dollar, which leads to lower PM values.

There's a disturbance in the force...
 
richc said:
Exactly... rising interest rates should lead to a stronger dollar, which leads to lower PM values.

There's a disturbance in the force...
Click to expand...

It might be simply that gold/silver sellers are exhausted, we hit the bottom of the trading range and now buyers have an excuse. The excuse being "Trump called out Powell, and the stock market is correcting, so we'll soon see the end of Quantitative Tightening!"

We're back up in the middle of the trading range, it's not a breakout or anything.
 
Here's an interesting eBay special.

1959 Mexico Gold 20 Pesos (.4823 oz) - BU | eBay

At the Qty 1 price is works out to about a gold price of $1300, or about $75 above spot gold. The coins are 60 years old. They are really quite attractive. There's even design on the edges of the coin. When I bought the other day they were $614 ($1275 spot) and I paid most of it with eBay bucks.

I generally don't buy coins for anything but minimal cost over spot but this one caught my attention.
 
richc said:
Here's an interesting eBay special.

1959 Mexico Gold 20 Pesos (.4823 oz) - BU | eBay

At the Qty 1 price is works out to about a gold price of $1300, or about $75 above spot gold. The coins are 60 years old. They are really quite attractive. There's even design on the edges of the coin. When I bought the other day they were $614 ($1275 spot) and I paid most of it with eBay bucks.

I generally don't buy coins for anything but minimal cost over spot but this one caught my attention.
Click to expand...

hey rich, I own one of those, it's beautiful, such fine detail. I think I bought this one below spot from Apmex when they had a sale plus 10% Bucks. That combo is pretty rare though. This is the Apmex ad but it's AU, not BU.

Mexico Gold 20 Pesos AGW .4823 Almost Uncirculated AU (Random Year) - SKU #1044 | eBay
 
The daily double of buying is a sale from Apmex with 10%+ eBay bucks. I bought some gold coins over 100 years old rated PCGS 62 uncirculated for less than the cost of the gold in them. Now that's a bargain, and I thank you for helping me realize this.

The trick is finding Pre 1933 gold coins that generally are not excluded from eBay bucks. Your standard run of the mill gold bullion coins are not valid for eBay bucks. And when you see the eBay bucks offer get in there early because the bargain pre 1933 coins sell out quickly with the 10% price reduction.

Thanks again, Varmint!

Varmint said:
hey rich, I own one of those, it's beautiful, such fine detail. I think I bought this one below spot from Apmex when they had a sale plus 10% Bucks. That combo is pretty rare though. This is the Apmex ad but it's AU, not BU.

Mexico Gold 20 Pesos AGW .4823 Almost Uncirculated AU (Random Year) - SKU #1044 | eBay
Click to expand...
 
richc said:
The daily double of buying is a sale from Apmex with 10%+ eBay bucks. I bought some gold coins over 100 years old rated PCGS 62 uncirculated for less than the cost of the gold in them. Now that's a bargain, and I thank you for helping me realize this.

The trick is finding Pre 1933 gold coins that generally are not excluded from eBay bucks. Your standard run of the mill gold bullion coins are not valid for eBay bucks. And when you see the eBay bucks offer get in there early because the bargain pre 1933 coins sell out quickly with the 10% price reduction.

Thanks again, Varmint!
Click to expand...

Yeah, absolutely. I put all the coins I find on my wishlist and hope for sales that coincide with Ebay bucks deals. It's easy to find silver deals but gold is harder, especially recently - the sales dry up as the spot price goes down.
 
Win said:
Those are handsome coins. I love the eagle eating the snake on the reverse of that coin as well as several other Mexican coin designs.
Click to expand...

I've got quite a few of the Onza coins in silver. Very handsome and one of my favorite Governmental coins...

1_4c589279ed2ce.jpg
 
That is an excellent question. The Libertads are a governmental bullion coin and not considered "tender" for the purposes of cash/currency as a peso would be.
It is however considered a true governmental "coin" by all vendors/sellers/collectors that I have ever come into contact with. Most buyers consider it Top Tier as compared to Engelhard/Sunshine Mint/APMEX silver rounds. American Silver Eagles have a dollar value, as do other nation's bullion "Coins", but there is no expectation of "worth" associated with it.
Maybe Mexico did not want to follow convention?
~Matt
 
They sold 4 of the 5 they have. It's not too late!
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