Gold and silver prices are down

[Varmint]

Mining stocks are not an indicator of the Gold Bullion market. Share or Stock, you own paper and Mining Comps have been misaligned from Gold for almost 10 years. Ton debt, CEOs bloated salaries, high operation costs etc.. IMHO Bullion is the better path, plus its liquid.

You have to be very picky with mining stocks, but I like them cause (a) easier to buy with 401k money than PMs, and (b) you get leverage - you aren't ever going to get a 10-bagger buying gold. I hope not anyway, that would be scary!

I use a paid newsletter mostly to pick mining stocks (or any individual stock), don't have time or inclination to do my own research. I will occasionally buy based on podcast mining experts, once I've seen they have a proven track record.

 

[Rob Boudrie]

I use a paid newsletter mostly to pick mining stocks (or any individual stock), don't have time or inclination to do my own research.

Be careful

1. Some of these "newsletters" have conflicts of interests - investments in, or promotional fees from, the stock issuer.

2. A newsletter buy recommendation can create a short-term unsustainable bump in the price as readers try to cash in on their "special info". This is especially true of small thinly traded companies ... a newsletter recommendation probably won't bump the price of IBM.

 

[PaulR]

I bought 3000 shares (about $700 worth) of a gold miner stock today (CTNXF), and it shows only 3000 shares have been traded today - mine was the only trade of the day, lol.

I guess it's a sign the gold market is truly dead.

I bought the exchange traded fund SLV last week after a little bit of research on silver. I'm hoping to hold long term and silver goes from 13 to 50 or so.

 

[Varmint]

Be careful

1. Some of these "newsletters" have conflicts of interests - investments in, or promotional fees from, the stock issuer.

2. A newsletter buy recommendation can create a short-term unsustainable bump in the price as readers try to cash in on their "special info".

I think a newsletter I used like 10 years ago did that - they'd list something and whoosh, the stock would go up, and within a week or month it was trash.

This one is very different - he'll recommend something, and it either won't move, or it'll go down - clearly his readership is not moving the stock, probably cause these are really long-term value stocks, not growth stocks. He does also make short-term recommendations on ETFs like Short Emerging Markets, Long Energy or Natural Gas. I'd stayed away from those, his track record is like 50/50 on those in the short time I've used him.

 

[Rob Boudrie]

>This one is very different - he'll recommend something, and it either won't move, or it'll go down

So do you look at his recommendations and short them?

 

[Varmint]

I bought the exchange traded fund SLV last week after a little bit of research on silver. I'm hoping to hold long term and silver goes from 13 to 50 or so.

I own some SLV, but bought it before I listened to a hundred hours of podcasts about PMs and miners. Imo, it's better to buy either physical silver, or a top-notch silver miner like First Majestic or McCewen Mining - simply cause they're solid companies that aren't going to disappear, and they go WAY down when silver is low, and WAY up when silver goes up. First Majestic is a steal at current $5 or below. If silver goes back to $18, First Majestic will probably triple.

There is some danger in SLV, that if silver were to skyrocket, say from $20 to $40 overnight, the ETF is legally able to say "here's your shares, at $20, we are not able to give you the $40 price due to market conditions". So you'll get your money back, but you won't get the big gain in the price. I don't worry about that, but it's possible.

 

[Varmint]

>This one is very different - he'll recommend something, and it either won't move, or it'll go down

So do you look at his recommendations and short them?

Lol, no, balls too small.

Most things gold and silver go nowhere but down these days. Which I'm happy with since I'm buying.

 

[Varmint]

Best deal I've seen yet. 15% off any PMs not in bullion category. Use coupon code pickupsale, max discount is $75 and must have all items in a single order. One time use only.

Here's an example, 25 silver maples for $0.55 over spot.

Roll of 25 - 2018 Canada 1 oz Silver Maple Leaf $5 Coins GEM BU Coins SKU49796 | eBay

Unfortunately the Apmex coins will all have Mass tax, sell best dealer is MCM, who doesn't charge tax.

20 silver Eagles for like $0.90 over spot.

Roll of 20 Coins - 2018 American Silver Eagle $1 GEM BU Coin SKU51559 | eBay

 

[Rob Boudrie]

Unfortunately the Apmex coins will all have Mass tax, sell best dealer is MCM, who doesn't charge tax.

MA exempts PMs from sales tax on purchases over $1K (one site claims this does not apply to South African or Nabian coins). Does Ebay recognize this?

 

[Varmint]

MA exempts PMs from sales tax on purchases over $1K (one site claims this does not apply to South African or Nabian coins). Does Ebay recognize this?

Yes they do, but the deal is only good for $75 discount so like $500 items.

 

[Win]

With all of the political chaos, market downturn, and economic uncertainty I was sure metals would jump this morning

 

[enbloc]

You would think so, but all this, is kabuki theater...

 

[enbloc]

With all of the political chaos, market downturn, and economic uncertainty I was sure metals would jump this morning

The Markets are getting hit with so many rights, they're begging for a left...
This alone should have made PM's bump up a few percentage points.
I hate that the TPTB mess with things...

 

[witchphd]

There may be a few other good listings on which this code will work, but I bought one of these. Always wanted one just for the design. Get it under spot with the ebay code.

Mexico 20 Peso Gold Coin (0.4823 oz) Random Years Extremely Fine (XF) or Better | eBay

Use code POPUPSAVINGS for 15% or up to $100 discount. Code is only good until 9PM. Showing 7 coins left in stock as of this message.

 

[sacksjacked]

I never buy any miner stock. For the most part they are poorly run and pay very little to no divodends for me to wait for a turnaround. Their charts look pathetic. I only buy the physical PM. Have zero interest in miners stocks. A company who supplies miners and pays good dividends is something else I would rather own. Thats my .02

 

[clampett]

A few pages back I mentioned that Boston bullion had closed, I was wrong, they didn't close, they moved up the street about a 1/4 mile. The new address is 127 Cambridge St Burlington, Ma.
Ken will meet you by appointment. He is selling ASE at $2.63 over spot. www.bostonbullion.com

 

[richc]

Lot of 4 - 1/4oz Proof Gold American Eagle - In Capsules (Random Date)

Lot of 4 - 1/4oz Proof Gold American Eagle - In Capsules (Random Date) | eBay

Proof coins about $40 over spot. Generally smaller denomination gold coins (1/10, 1/4, 1/2 ounce) have much higher spreads over spot. If you want to diversify your stack it helps to have some of the smaller coins too.

 

[richc]

Looks like gold closed slightly above $1300 last night. And silver jumped a fair bit as well.

 

[Win]

I think the Fed mentioned something about slowing or ending QT

 

[richc]

Gold and silver popped 1%+ after Powell's comments. They're moderating rate hikes and specifically mentioned slowing demand in China and the EU, the Brexit situation and gov't shutdown.

ETA: Gold around $1320 and silver over $16.

 

[Win]

Bought my daughter one of the 2011 (her birth year) 1 Kilo "Year of the Rabbit" coins on eBay. $639. Not bad.

 

[Rob Boudrie]

Bullion is the better path, plus its liquid.

Only if you heat it.

 

[HuntMaine]

Only if you heat it.

And form it into 40 cal rounds

 

[enbloc]

I miss the recently "Old Days" of no internet sales tax silver...

Ok. So who is selling here privately???

 

[Win]

At what price would you guys stop buying silver? In addition to the kilo coin I bought my daughter I’ve been buying a few ounces here and there. But at what price would you guys not spend extra money on silver? $25/oz?

 

[enbloc]

For me pricing is Relative.
If silver went back up to $50/oz (like more than a few years back) and stayed at that level. I'd buy... Just not as much.
It just meant that either supply went down or demand went up.
I remember when silver was +/- $5, and it felt like it was going to be that forever. People stopped buying because of stagnation and a cheap, ready supply.
I bought a ton back then. I was young and committed a percentage of my savings to PM's. I also bought while it was climbing towards $50/oz.

So here's my advice: If silver shot up to $25/oz, I'd sell a kilo or two and stack that fiat for when the price dropped back down and try to buy again at current bottom.
Rinse and Repeat.
~Matt

 

[enbloc]

Looks like Gold and Silver took a little dump today.
Gold headed for $1250 (down nearly $100/oz since mid-Feb)
Silver headed for sub-$15 (down nearly $1+/oz since mid-Feb)

Good time to trade fiat for shiny...

 

[Win]

Canada doesn't need any gold reserves

 

[enbloc]

Did China buy it...?

I wonder how many tons of tungsten got turned into "Golden Oreo's" with all that Canadian Gold...?

 

[Varmint]

I miss the recently "Old Days" of no internet sales tax silver...

Ok. So who is selling here privately???

Buy from MCM on Ebay, they don't charge tax (yet). That's where I've bought most of my silver, since they have coins that qualify for Ebay Bucks. But Ebay booted me from the Bucks deals, probably realized they've lost hundreds on me.