Gold and silver prices are down

whacko said:
JM shows $19.77 and monex shows $20.12. think we are going above $20 and staying there?
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I'm shocked it's still so low. Would I be shocked if it went back under $20? No, but only because I'm so bad at predicting what other investors will think [laugh] . Personally, I'd be buying at $50/ounce.
 
whacko said:
JM shows $19.77 and monex shows $20.12. think we are going above $20 and staying there?
Click to expand...

probably- silver would go back down if the stock market were to tank this week, both silver and stocks are probably anticipating Congress passing some stimulus bill. If that disappoints you could have a correction. Stocks and silver are tied at the hip.
 
Anyone know what's driving this?

Screen Shot 2020-07-21 at 8.22.01 AM.png

ETA: We wondered when silver would cross $20/ounce. It stayed in the $20's for under 5 minutes, shooting to $21 on the bid side.

Have the Hunt Brothers come back to life??? This is almost like watching ammo prices!

:)
Screen Shot 2020-07-21 at 8.25.24 AM.png
 
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Rob Boudrie said:
Has the brokers "buy price" on the 70;s caught up to what you paid?
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Rob, serious question. Why are you so obsessed with those who have invested some in precious metals?

I think we all get the increased tax hit. It may not fit with your investment strategies but for most it's an insurance policy against a huge US deficit, crazy world events and a world in which the US dollar becomes less important.

This really seems to get under your skin, my friend.

Best

Rich
 
Rob Boudrie said:
No obsession, just trying to understand all details.
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At the moment, and this is subject to change, anyone who has bought PM's in the past 5 years or so is making money in silver. 9 years for gold.
Yes there are buy/sell premiums. But if you were careful over the past 5 years you could buy items with low premiums over spot. Or, with the addition of eBay bucks, below spot.

It's not for everyone. But I find a few PM's are an insurance policy of sorts. If I make money that's great. If not no biggie. But I derive some comfort in having that insurance. Peace of mind has value too.

Folks here on NES have been helpful in pointing out good deals, or when there were big rewards with eBay bucks. They helped me learn about the Massachusetts sales tax on PM's and when they apply (although it seems that dealers still apply the rules differently).

Where this will end I don't know. I won't get rich off PM's, nor will I get poor. It's just like I have guns and ammo. Beyond the shooting enthusiast in me there's a bit of knowing I have some level of protection for my family. That's the way I look at PM's too. Yet another layer of protection.
 
richc said:
Anyone know what's driving this?

View attachment 374217

ETA: We wondered when silver would cross $20/ounce. It stayed in the $20's for under 5 minutes, shooting to $21 on the bid side.

Have the Hunt Brothers come back to life??? This is almost like watching ammo prices!

:)
View attachment 374218
Click to expand...

a lot of big traders put buy orders just above key resistance. So once silver cleared $20 it triggered a lot of buy orders. I think resistance is $21 though, the 2016 high?
 
richc said:
At the moment, and this is subject to change, anyone who has bought PM's in the past 5 years or so is making money in silver. 9 years for gold.
Yes there are buy/sell premiums. But if you were careful over the past 5 years you could buy items with low premiums over spot. Or, with the addition of eBay bucks, below spot.

It's not for everyone. But I find a few PM's are an insurance policy of sorts. If I make money that's great. If not no biggie. But I derive some comfort in having that insurance. Peace of mind has value too.

Folks here on NES have been helpful in pointing out good deals, or when there were big rewards with eBay bucks. They helped me learn about the Massachusetts sales tax on PM's and when they apply (although it seems that dealers still apply the rules differently).

Where this will end I don't know. I won't get rich off PM's, nor will I get poor. It's just like I have guns and ammo. Beyond the shooting enthusiast in me there's a bit of knowing I have some level of protection for my family. That's the way I look at PM's too. Yet another layer of protection.
Click to expand...

Silver today is like the S&P500 in 2009. It's up to 800 and we're wondering if it'll make it to 900. We got a long way to go.
 
100 ounce silver bars on eBay. Starting now about $2400...

YIKES!

www.ebay.com

100 ounce silver bar for sale | eBay

Get the best deals for 100 ounce silver bar at eBay.com. We have a great online selection at the lowest prices with Fast & Free shipping on many items!
www.ebay.com


Interesting that premiums for gold are not as large at the moment. PCGS rated $20 St Gaudens from the 1920's and earlier can be had for under $2100. A month or two ago they were up around $2300+
 
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I have a small position in a silver eft.

Nice to see some gains finally. Was one of my two dogs.

Anything I have that’s physical I’m holding on to. One I consider a work of art. So that will never be up for sale...
 
richc said:
Both gold and silver rallied to close near their daily highs today. That generally portends more bullish action into tomorrow.

View attachment 374364
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I think the market wants to see some new stimulus package this week or next at the latest. That's gonna be interesting, with both sides liking free money but not wanting to give the other side anything.
 

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