Varmint
NES Member
Friday close over $1950 would be big. Gold miners probably won’t rally til we see $2000 though.
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Gold and silver prices are down
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Friday close over $1950 would be big. Gold miners probably won’t rally til we see $2000 though.
richc
NES Member
I'm guessing some of this is nervous people wondering if more banks will be closed/taken over this weekend. Flight to safety?
Historically the FDIC takes over banks after closing on a Friday. Gives them the weekend to let things quiet down.
And why would Yellen say that yesterday, about only bailing out banks that are too big to fail, unless she knew this stuff was coming?
Historically the FDIC takes over banks after closing on a Friday. Gives them the weekend to let things quiet down.
And why would Yellen say that yesterday, about only bailing out banks that are too big to fail, unless she knew this stuff was coming?
Is it go time?
Lotsa funny stuff going on. Triple witching options expiration Friday with nervous markets due to Fed policy and bank risks.
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HARRYM
NES Member
I must say I am taking advantage of the Silver prices. But then again I have always had a soft spot for Silver, but to me its a very simple buy that can't go wrong.
Interesting day...
Win
NES Member
Agree here. Seems like the case for silver has never been stronger and the nominal price never lower.
not new guy
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Price for a gold eagle is up almost $150 from a week ago.
richc
NES Member
Earlier today the lowest price I could find on eBay for an NGC or PCGS rated, MS61 or greater, slabbed Saint Gaudens was $2450. Cheapest MS65 common date was $3150.
saint gaudens pre 1933 for sale | eBay
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Great day trading GDXU. Closed out my position at $46. Still holding my gold and silver dabloons. I feel like a pirate these days.
Varmint
NES Member
Quite the contrast of monetary vs industrial metals.
Varmint
NES Member
$1993 now, gold making a run at $2000 in the after 4 pm market.
It broke 2000 almost 1 year ago but this coming week is a pivotal moment for Fed rate hikes so it’s possible for a push above 2000 and back down but definitely not to 1650’s. If it can hold above 2000 I expect miners will do a victory dance for the next couple years. I’m all cash now because next week will be very volatile.
richc
NES Member
OK, I got the "slow march" thing wrong. But I suspect that we will breech 2000 next week.
I am reticent to make calls on direction. Because I'm generally wrong. But my gut was strong that the investor types are nervous and looking for safety.
It will be interesting to watch the web pages of those who sell physical. Will they start posting that shipping is delayed because of a large increase in orders? Will price over spot premiums go up? Will they be out of stock. Indicators of a strong market for physical gold/silver.
WOW!
richc
NES Member
Where do you find after market spot pricing on the web?
Varmint
NES Member
It still keeps trading til 5 pm. That’s all I meant. I think you posted after 5 anyway so never mind! Futures finished at $1993 looks like.
GC00 | Gold Continuous Contract Overview | MarketWatch
GC00 | A complete Gold Continuous Contract futures overview by MarketWatch. View the futures and commodity market news, futures pricing and futures trading.
www.marketwatch.com
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richc
NES Member
It still keeps trading til 5 pm. That’s all I meant. I think you posted after 5 anyway so never mind! Futures finished at $1993 looks like.
GC00 | Gold Continuous Contract Overview | MarketWatch
GC00 | A complete Gold Continuous Contract futures overview by MarketWatch. View the futures and commodity market news, futures pricing and futures trading.
Thanks! That's a damn fine number!!!
Hmm…APMEX is frozen at $1999It still keeps trading til 5 pm. That’s all I meant. I think you posted after 5 anyway so never mind! Futures finished at $1993 looks like.
GC00 | Gold Continuous Contract Overview | MarketWatch
GC00 | A complete Gold Continuous Contract futures overview by MarketWatch. View the futures and commodity market news, futures pricing and futures trading.
Varmint
NES Member
Everything is positive, silver and miners are participating in the move up, close the week above $1950. Gold still going up when stock market is going down, or when the dollar is going up.
I don’t know when we finally break $2070 but i think it’ll be in the next 6 months.
Varmint
NES Member
Don’t use Apmex, their are quoting their own buy sell prices which have a built in premium. It’s not meaningful.
Use the spot price like rich is posting or the futures price, they’re not much different.
I just want it to be 1999 again so I can party like it.
Going up up up
richc
NES Member
IIRC both the Indian and Maple Leaf are 100% gold. No artificial fillers!
Varmint
NES Member
Rather buy miners where you pay $20/oz for gold in the ground. Miners are priced like gold is going back to $1400.
I’ll take that bet.
Why not both?
Varmint
NES Member
I like to buy when things are unpopular and cheap. That was gold and silver coins from like 2016 to 2019, where I bought all I could afford. Right now physical gold and silver are expensive and popular and mining stocks are hated and dirt cheap.
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