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Gold and silver prices are down

PioneerHD said:
You are bringing something up that was changed in the 1980s.
It doesn't matter what happened 40 years ago, when the cpi measurement is trailing 12 months.
You must always compare apples to apples .

If you find yourself comparing apples to oranges you are in trouble.

The change was to look at "comparables" if the hottest video game system was atari previously. And today it is Xbox, that is a comparable.

If it was the latest flip phone and now it is a flip phone with touch screen, that is a comparable.
It's an entire basket of goods that is being measured. People on the internet who are not educated on the topic, ruin things for others.
The thing that matters is how much change has there been, period.

And yes, things suck right now
Click to expand...

He's referring to changes made to the CPI in the last two years. There were several, for example they changed the way they track used car prices, weighting them higher, because they believed used car prices had peaked and would bring down the CPI faster if weighted higher. Stuff like that.
 
Varmint said:
He's referring to changes made to the CPI in the last two years. There were several, for example they changed the way they track used car prices, weighting them higher, because they believed used car prices had peaked and would bring down the CPI faster if weighted higher. Stuff like that.
Click to expand...
Correct, changes have been made very recently (in the grand scheme of things). It seems they were made to make things look more rosy than they really are. Honestly outside of the bubble of the stock market which seems devoid of reality, inflation is a real problem.
 
AppleSeeds said:
Correct, changes have been made very recently (in the grand scheme of things). It seems they were made to make things look more rosy than they really are. Honestly outside of the bubble of the stock market which seems devoid of reality, inflation is a real problem.
Click to expand...
I looked at the market today, at totally blind to the elephant in the room. It's laughable, if it was funny
 
Rat187 said:
I looked at the market today, at totally blind to the elephant in the room. It's laughable, if it was funny
Click to expand...
Totally focused on inflation and the fed. Blind to everything else. It's times like these that remind me of the cosmic certainty that humans will go extinct billions of years before the sun burns out. Looking on the bright side, though, at least it helps keep things predictable for the time being if you're paying attention. When everybody knows what's coming and plans for it, that's when what's coming changes, and then Murphy's Law dictates that I won't be well-positioned for whatever that turns out to be.
 
413dan said:
$2070 / $2075 around summer 2020 IIRC

quick google yielded this:Gold prices could notch an all-time high soon — and stay there
Gold Is Nearing an All-Time High. Here’s Why.
A near ‘perfect crisis’ rockets gold to $US2000 level
It was august, so yea, summer like my not always correct mind thought.

@PioneerHD
Click to expand...

Yes, $2070-$2075 is what’s usually quoted as the all time futures or spot high.

The daily weekly and monthly highs are really important cause traders and fund managers watch those. They’ll start piling in if we get a weekly close over $2100.

We’ll probably retest $1900-1950 first.
 
Varmint said:
We’ll probably retest $1900-1950 first.
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Even if we go back down to $1,900 gold would still be having decidedly higher lows and higher highs. This trend appears obvious and robust yet very few folks who weren't already in PMs or numismatic coins have any idea. Feels like this trade is still in its infancy.
 
Win said:
Even if we go back down to $1,900 gold would still be having decidedly higher lows and higher highs. This trend appears obvious and robust yet very few folks who weren't already in PMs or numismatic coins have any idea. Feels like this trade is still in its infancy.
Click to expand...

Yeah, especially miners, it’s just a few nutcases trading shares amongst ourselves. Nobody cares. [cheers]
 
I don’t know which was worse, watching gold crossing $1900 back and forth for months, or this hanging out near all time highs and doing nothing.

The miners keep trickling up but I know they can give all that up before you can say “J-Pow”.
 
With silver in degradation and supplies expected to virtually disappear by 2035, at what point does the 80-1 current gold silver ratio to return to a reasonable number?

Silver seems like a more likely investment at this point.
 
Win said:
Just starting to get into gold and silver stocks. Seems silly to have much money sitting in the bank when it's easy enough to sell stocks out of personal (not retirement) accounts and transfer back to bank if I need to. I have a few shares of First Majestic Silver (AG), Metalla Royalty (MTA), GoGold (GLGDF), Guanajuato Silver (GSVRF), Aftermath Silver (AAGFF), and Defiance Silver (DNCVF). I realize that this is a mix of big and small, royalty and exploration. Are there any PM stocks anyone feel strongly about - I should consider? I'm new to this area.
Click to expand...
I just checked today after the close and my mining/exploration PM stock account that I've had for less than 1 month is up 17.09%. All skill and no luck [laugh] . Meanwhile my bank savings account is paying me 1/100 of 1 percent.
 
DJBrad said:
Big selling won’t happen until $2100
Click to expand...

The real all time high of $2070-2075 will be strong resistance as is $2050.

I think we’re starting to see FOMO and with everyone calling for a pullback sometimes gold likes to fake people out.

There are still tons of people waiting for yet another pullback before getting in. Can’t blame them since gold has had so many failed breakouts.
 
I just sold a large amount of coins /metals.
In the waiting room was some very interesting characters.

Boston Bullion in Burlington MASS

Beautiful waiting room and office too. I had a good experience and I got top dollar.
I called around to 6 bullion dealers and this guy had prices about $3 more per ounce than everyone else.
He is paying spot + 6 today.

But man... some of the customers in the waiting room, were absolutely out of their minds... Basically telling me about how the world is going to end tomorrow... for some reason, some people in the lobby think that silver and gold is going to increase 150% - 300% but they refused to give me the phone number to their drug dealers
 
Don't forget that in the last 15 months , your $1 USD dollar bill has lost 15% of its value.
So it's gonna take a lot more units of dollar bills to buy the same price of GOLD
 
I will no longer be buying anymore silver.... from today forward.... GOLD Only...

I'm gonna draw a chart for silver with my keyboard...

_______________________________

^ There is my chart lol
 

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