Gold and silver prices are down

Varmint

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Oh ok, yeah, Apmex always quotes a higher spot price, I think they build in their own delivery cost or something. I use the futures price since that's what traders are using - so support/resistance levels will be more accurate.


Currently $1901.
 

Varmint

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I’m not sold on the gold breakout. Bitcoin at 19k indicates a lot of selling left.

it’s definitely not a breakout yet anyway, and even if we get through $1900 there’s huge resistance at $1950 and $2000. Then it’s back to test $1750 or something.

We’ll get that breakout above $2000 when the Fed pivots, but I think that’s farther away then the markets think.
 

oldgunner

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it’s definitely not a breakout yet anyway, and even if we get through $1900 there’s huge resistance at $1950 and $2000. Then it’s back to test $1750 or something.

We’ll get that breakout above $2000 when the Fed pivots, but I think that’s farther away then the markets think.
It's all manipulated. 'They' make money on the way up and they make money on the way down!
 

Varmint

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I think that's the first time I've seen my numismatic friends guess wrong. Interesting.

Too early to say they’re wrong, if we close under $1900 today it’s probably going down. There’s definitely some warning signs in this gold rally. Silver isn’t participating and volume in miners is low.

It’s ok, hitting $1900 even briefly is a great sign and a pullback to $1780 or $1800 is perfectly healthy. You don’t want gold to go straight to $2100, cause it would probably do a round trip.
 

DJBrad

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Well gold certainly is getting bid after Yellen’s warning to Congress on the debt obligations. This should be fun to see after 2022’s tax loss selling if income tax receipts even come close to what 2021 brought in! We’re in big trouble folks…
 

Varmint

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Wait what happens in 4 hours? [laugh]

Miner and silver rally seems tapped out, they barely went up today, but still great close to the week. All those experts calling for $1500 or even $1400 gold - GLWT.
 

Varmint

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Well gold certainly is getting bid after Yellen’s warning to Congress on the debt obligations. This should be fun to see after 2022’s tax loss selling if income tax receipts even come close to what 2021 brought in! We’re in big trouble folks…

Could be some China reopening effect on gold too. Chinese have been saving up for 3 years now, maybe we can get them to buy some of our new Treasuries?
 

richc

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Wait what happens in 4 hours? [laugh]

Miner and silver rally seems tapped out, they barely went up today, but still great close to the week. All those experts calling for $1500 or even $1400 gold - GLWT.

On a percentage basis silver was up more than gold today. Silver was up over 2%, while gold was up about 1.3%.

Am I missing something?
 

oldgunner

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I have a question for you experts here...

Say I have 50 oz of gold in a health mix of 1oz coins, fractional coins, some pre-1932 coinage and a few 1oz bars. Of course, the minimum value one would expect at any given time would be melt value. Given the description above, what would a fair percentage premium over melt would you guys think would be a fair estimate of real value (in FRN's)?

10%?
20%?
36.43%?

What say you PM wizards of NES?
 

richc

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I have a question for you experts here...

Say I have 50 oz of gold in a health mix of 1oz coins, fractional coins, some pre-1932 coinage and a few 1oz bars. Of course, the minimum value one would expect at any given time would be melt value. Given the description above, what would a fair percentage premium over melt would you guys think would be a fair estimate of real value (in FRN's)?

10%?
20%?
36.43%?

What say you PM wizards of NES?

Are you selling to a dealer, or personal sale?

That makes a difference.

Personally, if selling by myself, I'd look at melt, and what dealers are selling for, and price it in the middle. Win-win.
 

Boarder700

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I have a question for you experts here...

Say I have 50 oz of gold in a health mix of 1oz coins, fractional coins, some pre-1932 coinage and a few 1oz bars. Of course, the minimum value one would expect at any given time would be melt value. Given the description above, what would a fair percentage premium over melt would you guys think would be a fair estimate of real value (in FRN's)?

10%?
20%?
36.43%?

What say you PM wizards of NES?
Apmex and jm bullion list buy prices for lots of things on their websites.

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion
Current “sell to us” price of $1,963
 

Varmint

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On a percentage basis silver was up more than gold today. Silver was up over 2%, while gold was up about 1.3%.

Am I missing something?

Compare the charts of the last month of silver and gold. Silver is flat and was actually higher than today, while gold just went straight up. Silver should be up around $26 with gold at these levels.

It’s just one negative indicator, there are a lot of positive ones, especially now that gold closed the week not just above $1900 but above the next resistance level at $1920.

Gold and silver miners who tend to lead gold are also acting very bullish although overdue for a short term pullback.

The great thing is so many gold experts have been predicting $1500 gold, and that’s looking very unlikely now. Now they have to scramble to get into positions $400 higher than they wanted.
 

Varmint

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Are you selling to a dealer, or personal sale?

That makes a difference.

Personally, if selling by myself, I'd look at melt, and what dealers are selling for, and price it in the middle. Win-win.

Agree, just don’t sell now, right as the next secular bull market in gold is getting going.
 

Varmint

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Varmint

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My paid newsletter guy is predicting a failed attempt to break $2000, a retracement to $1850 or $1680-1700 (like if we have a major stock market correction), then a successful break through $2000-2100 on way to $2500.

Miners will go nuts if we cross $2100.
 
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