Gold and silver prices are down

[Varmint]

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 . Meanwhile my bank savings account is paying me 1/100 of 1 percent.

That’s awesome. You’ve got several junior silver miners on that list and are probably starting to see the appeal, they can take off like scalded dogs in bull markets.

Top 4 movers for me today are 4 of my worst stocks. Turkeys starting to fly, which is bullish the sector. They haven’t really moved before today. My good junior explorers haven’t really moved yet either but that’s normal, they’re the last to move at the start of bull markets.

 

[Varmint]

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

+6 is that gold or silver?

You were probably the only one there to sell.

I don’t get why people rush to buy at $2050, when they had endless opportunities to buy at $1850-1900 and even lower the last couple years. When people are clothes or food shopping they wait for deals, why not do that for gold?

 

[Varmint]

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

I look forward to quoting this when gold is $2500.

 

[PioneerHD]

I give up, enjoy celebrating your all time high.

Just wanted to clear the air.
You are telling people the value of gold adjusted for inflation. Which isn't wrong.

And what I'm referencing is the price. I'm not factoring in inflation, I'm looking at the actual price.



So you're not wrong that it peaked in the 1980s and in 2020.
And once again yesterday and today and this past week etc.

Putting viewpoints aside... gold is trading within a couple dollars of the highest it has ever traded at.
It's probably more accurate to factor in CPI , but that would only be for united States. There are countries who also have deflation occurring today while America is experiencing inflation.

But the chart I have posted tight now, removes the CPI adjustment.

 

[PioneerHD]

+6 is that gold or silver?

You were probably the only one there to sell.

I don’t get why people rush to buy at $2050, when they had endless opportunities to buy at $1850-1900 and even lower the last couple years. When people are clothes or food shopping they wait for deals, why not do that for gold?

Spot plus 6 for American silver eagles.

Several months ago, I decided to focus only o. Gold. Because im very upset what's been happening with silver. The rumors about it being manipulated are very true. Sadly. JP Morgan constantly pleads guilty to the Fraud, but the government keeps letting them commit Fraud constantly, and the penalties for the fraud are minor. Like $100 speeding ticket.... the banks control the government so they really don't care.

JP Morgan has been guilty of manipulation dozens of times, but they don't care, fraud is what motivates JP Morgan. They are evil

 

[PioneerHD]

+6 is that gold or silver?

You were probably the only one there to sell.

I don’t get why people rush to buy at $2050, when they had endless opportunities to buy at $1850-1900 and even lower the last couple years. When people are clothes or food shopping they wait for deals, why not do that for gold?

The people in the lobby were talking crazy talk... like ww3 and end of the world... I'm okay with that, but then they were saying gold is going to $10,000 an ounce. And silver $150 an ounce. I don't have much patience for crazy people.

For humor I asked them has silver ever gone to $100 an ounce. They said they don't think so.

I asked if they've ever bought precious metal before they. Said never I asked them have you been following the price of metals in the last several years they said no....
Just like my clients at the brokerage...

Funny how I don't really agree with their future thoughts. I definitely agree the worlds in a f***** u* place... I also think world war three is going to happen probably soon... I also agree that dollar bill is being destroyed by our own government....
I just wish that they would educate themselves a little bit more on the prices of metals et cetera

 

[Varmint]

Just wanted to clear the air.
You are telling people the value of gold adjusted for inflation. Which isn't wrong.

And what I'm referencing is the price. I'm not factoring in inflation, I'm looking at the actual price.

View attachment 742099

So you're not wrong that it peaked in the 1980s and in 2020.
And once again yesterday and today and this past week etc.

Putting viewpoints aside... gold is trading within a couple dollars of the highest it has ever traded at.
It's probably more accurate to factor in CPI , but that would only be for united States. There are countries who also have deflation occurring today while America is experiencing inflation.

But the chart I have posted tight now, removes the CPI adjustment.

That’s fine just say inflation adjusted gold. I talk about the (unadjusted) futures price because that’s what traders, hedge funds and investors look at, they don’t use inflation adjusted numbers. The 12 year cup and handle formation gold is forming is based on the futures price.

When gold breaks to new all time highs on a weekly or monthly basis, it is likely to start a huge run to $2500, $3000 or even $4000.

If we fail to reach $2100 on this run, gold is probably going to go back to $1900-1950 for a while.

 

[PioneerHD]

That’s fine just say inflation adjusted gold. I talk about the (unadjusted) futures price because that’s what traders, hedge funds and investors look at, they don’t use inflation adjusted numbers. The 12 year cup and handle formation gold is forming is based on the futures price.

When gold breaks to new all time highs on a weekly or monthly basis, it is likely to start a huge run to $2500, $3000 or even $4000.

If we fail to reach $2100 on this run, gold is probably going to go back to $1900-1950 for a while.

I think ammunition is literally a better investment... I passionately believe this... and history has proven this statement correct.
In fact I'd like to see a chart of ammo vs gold. Because I bet they are Correlated

 

[PioneerHD]

I look forward to quoting this when gold is $2500.

That pretend chart is for silver... it's sarcasm. Because silver hasn't done much in a very long time..

 

[DJBrad]

That pretend chart is for silver... it's sarcasm. Because silver hasn't done much in a very long time..

It’s true and that’s why the leverage gained in silver miners is best choice. When 2020 silver was hitting $50 my silver junior miners had moved 500-700%.

 

[Varmint]

That pretend chart is for silver... it's sarcasm. Because silver hasn't done much in a very long time..

Yeah I know, silver seems to magically fail on every breakout. I don’t blame people for thinking it’s a conspiracy. But historically silver outperforms gold in gold bull markets, it just lags initially as it’s doing now. Or it was until the last few months, where it’s been outperforming gold (this is bullish).

 

[Varmint]

Spot plus 6 for American silver eagles.

Several months ago, I decided to focus only o. Gold. Because im very upset what's been happening with silver. The rumors about it being manipulated are very true. Sadly. JP Morgan constantly pleads guilty to the Fraud, but the government keeps letting them commit Fraud constantly, and the penalties for the fraud are minor. Like $100 speeding ticket.... the banks control the government so they really don't care.

JP Morgan has been guilty of manipulation dozens of times, but they don't care, fraud is what motivates JP Morgan. They are evil

My thinking is JPM cheats a lot to make money (spoofing etc) but that they don’t control or intentionally suppress the silver price for political reasons. I think silver’s problem is that it’s both a monetary and industrial metal, so it often has cross currents moving it. Also the Hunt Brothers fiasco hurt the silver market cause like with meme stocks, Wall St stepped in and changed the rules to crush the bulls.

 

[Varmint]

It’s true and that’s why the leverage gained in silver miners is best choice. When 2020 silver was hitting $50 my silver junior miners had moved 500-700%.

Silver is leveraged to gold, silver miners are leveraged to silver, and silver juniors are leveraged bets on silver miners.

It’s Vegas, baby!

 

[Varmint]

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.

Seeing things as they really are can be a curse. From 2010 to 2020, the people (like my mother in law) who were blind to what was going on, just bought what was going up and made a killing.

Those people are still blindly buying stocks. 2022 saw all time record inflows into S&P500 ETFs.

Who knows, maybe they’re still right?

 

[DJBrad]

Silver is leveraged to gold, silver miners are leveraged to silver, and silver juniors are leveraged bets on silver miners.

It’s Vegas, baby!

Speaking of which. FSAGX has netted me almost 30% since late last year. That’s huge for an entire 401k

 

[Varmint]

Speaking of which. FSAGX has netted me almost 30% since late last year. That’s huge for an entire 401k

That entire 401k is in FSaGX?

Yeah I got lucky cause I quit my job last July and rolled over my current 401k into mining stocks when they were rock bottom. That one is up 30%, and many of the stocks haven’t moved yet.

My other mining accounts that I’ve had for several years have moved a lot but need another 40% or so to get back to their 2021 or 2022 highs. Which is amazing considering gold is at $2050.

 

[Varmint]

If you look at the biggest gold mines like NEM or Barrick, they aren’t doing very well.

This is why I don’t like the large cap mining stocks, just too many risks and they don’t have the 5 or 10 bagger upside of smaller miners.

If forced to pick a large cap I’d pick Kinross Gold, I think their Great Bear purchase will end up being one of the largest mines ever and the stock is undervalued.

 

[DJBrad]

That entire 401k is in FSaGX?

Yeah I got lucky cause I quit my job last July and rolled over my current 401k into mining stocks when they were rock bottom. That one is up 30%, and many of the stocks haven’t moved yet.

My other mining accounts that I’ve had for several years have moved a lot but need another 30% or so to get back to their 2021 or 2022 highs. Which is amazing considering gold is at $2050.

Entire thing. Can’t do an IRA yet due to tax purposes but that’s the plan next.

 

[DJBrad]

If you look at the biggest gold mines like NEM or Barrick, they aren’t doing very well.

This is why I don’t like the large cap mining stocks, just too many risks and they don’t have the 5 or 10 bagger upside of smaller miners.

If forced to pick a large cap I’d pick Kinross Gold, I think their Great Bear purchase will end up being one of the largest mines ever and the stock is undervalued.

That’s where the big money goes first though. If only there was a junior miner mutual fund….SGDLX might be what I move into mid cycle.

 

[Varmint]

Entire thing. Can’t do an IRA yet due to tax purposes but that’s the plan next.

Yeah me too, my 401k was limited to S&P500 and bond funds, so it was all cash til I quit. Now it’s in crazy shit.

 

[Varmint]

That’s where the big money goes first though. If only there was a junior miner mutual fund….SGDLX might be what I move into mid cycle.

I know everyone says the big caps move first, but the juniors can move so fast that you can’t wait and rotate into them.

Look at win’s Aftermath Silver, up 15% yesterday and 110% off it’s September bottom. So I don’t think you want to try to rotate into small cap miners, you need to get into them early.

I know it’s not an option for your 401k and FSaGX will do great.

 

[Varmint]

That’s where the big money goes first though. If only there was a junior miner mutual fund….SGDLX might be what I move into mid cycle.

I like SGDLX better than FSAGX, I’d move some money into that if you can.

 

[PioneerHD]

My thinking is JPM cheats a lot to make money (spoofing etc) but that they don’t control or intentionally suppress the silver price for political reasons. I think silver’s problem is that it’s both a monetary and industrial metal, so it often has cross currents moving it. Also the Hunt Brothers fiasco hurt the silver market cause like with meme stocks, Wall St stepped in and changed the rules to crush the bulls.

The "meme trend" thing was very bizarre. Hope everyone knows that's not "investing" that's called pump & dump.... I understand it was also a short squeeze (equities) but it wasn't for fundamental reasons.. it was almost an activist investing play. Almost like the emotions during occupy wall street movement.
Investing should be very separate from gambling.
This is also why many people aged 18-35 were doing the meme stuff.

The day I started reading more about jp Morgan and how criminal they are, was when coke cola sued them.

 

[Win]

100% FSAGX def qualifies as being bold gold I like Adrian Day. I've listened to a few of his interviews.

 

[Varmint]

Entire thing. Can’t do an IRA yet due to tax purposes but that’s the plan next.

I think there’s ways to convert to an IRA while still working but you’re doing just fine with FSAGX.

 

[Varmint]

The "meme trend" thing was very bizarre. Hope everyone knows that's not "investing" that's called pump & dump.... I understand it was also a short squeeze (equities) but it wasn't for fundamental reasons.. it was almost an activist investing play. Almost like the emotions during occupy wall street movement.
Investing should be very separate from gambling.
This is also why many people aged 18-35 were doing the meme stuff.

The day I started reading more about jp Morgan and how criminal they are, was when coke cola sued them.

Right, what I mean is that the Redditors had the short hedge funds by the balls and were making a killing. So Wall St stepped in and banned buys on those stocks, crushing the rebellion.

The futures market did the same thing to the Hunt Brothers when they drove silver to $50, they banned buying of silver, crushing the bulls.

It shouldn’t be legal but we have to remember when in Vegas, the house can change the rules whenever they want.

 

[DJBrad]

100% FSAGX def qualifies as being bold gold I like Adrian Day. I've listened to a few of his interviews.

Pays a nice dividend during the good times too.

 

[meh]

Those people are still blindly buying stocks. 2022 saw all time record inflows into S&P500 ETFs.

Who knows, maybe they’re still right?

One of the macro guys I follow thinks we could see new all time highs for the S&P before it crashes. That's great for active investors, but if he's right, set-it-and-forget-it 401K investors will be left holding the bag.

 

[Varmint]

One of the macro guys I follow thinks we could see new all time highs for the S&P before it crashes. That's great for active investors, but if he's right, set-it-and-forget-it 401K investors will be left holding the bag.

Yeah, I think investors have done so well with an easy Fed, and now they see the Fed tightening cycle ending, so they think we'll have a repeat of 2010 to 2020.

But interest rates and inflation are now at 5%, not 0% and 2% respectively. I see no route back to 0 and 2%.

At 5% interest rates, anyone with rolling over debt (corporations, banks, even some home owners) are focked, so we'll be getting more and more SVB-like surprises coming. I'm not touching the general stock market (but not shorting it either).

 

[Varmint]

100% FSAGX def qualifies as being bold gold I like Adrian Day. I've listened to a few of his interviews.

He's great, though he's a bit like Peter Schiff - really smart, and the things he says all make a lot of sense, yet their predictions never seem to come true.

Although they seem to be coming true recently.