Gold and silver prices are down

[pinefd]

A quick google search shows a wide range of prices, here’s one for comparison but you’d have to pay to have it graded. I’ll give $100 in cold hard cash

1898 Liberty Head Gold $20 Uncirculated ICG MS62 Philadelphia Minted | eBay

Collectible Coins, Bullion, Paper Money, & Jewelry. Platinum & Palladium. Do you buy coins, collections, and bullion?. Now in his fourth decade as a Professional Numismatist, his experience includes eight years at NGC as Executive Vice President and a Grading Finalizer.

www.ebay.com

Yes, thanks. I did look it up on eBay and found a number of others like it, but wasn't sure how to rate the condition, and how much that affects the value.


Frank

That $2850 price seems in line with the market. It may even be a bit on the low side. Your coin looks more like an MS61 to me, but I’d expect a dealer to offer you about $2400-2500 for it.

Great, thanks for the info!


Frank

 

[Varmint]

Banks are probably gearing up for a beat down of gold today, to prevent another all time high weekly close.

 

[DJBrad]

Banks are probably gearing up for a beat down of gold today, to prevent another all time high weekly close.

Maybe

 

[DJBrad]

Gold futures spiked to $2188 and then back to $2173 just now. 275k “jobs” added but unemployment ticked up to 3.9%. I’m looking for the revised January numbers but can’t find them.

Suffice it to say Gold is keen to the lies and deception.


I bet we get a cut before June.

 

[richc]

Another Viagra moment..

 

[Win]

I think gold is responding to Biden's speech on the government fixing the prices of everything

 

[richc]

Must have been the short acting Viagra today...

 

[richc]

I think gold is responding to Biden's speech on the government fixing the prices of everything

Price controls do not work. I lived through that once. Feel good legislation that throttles back the economic engine.

Wage and price controls were the demon seed of Nixon. They were about as successful as Biden walking up the stairs of Air Force One.

 

[DJBrad]

Banks are probably gearing up for a beat down of gold today, to prevent another all time high weekly close.

Looks like we are going to close the week on another ATH above $2180.

 

[richc]

 

[DJBrad]

Hit another high of $2203

 

[DJBrad]

Oof

 

[richc]

The scammers are back at work...

I rarely pick up the house phone but did last night. I get a good ol' boy on the phone who says he is so pleased to catch me at home.

He said that he and I talked on September 16th and he had some opportunities to discuss with me. I held my tongue and said that the only conversation I would have had with him would have been to remove me from his call list.

He says nope, his records show we had a great conversation for 15 minutes about the investment potential of Morgan Silver dollars. At which point I told him he's obviously a "lying sack of sh*t" because I don't waste my time on sales calls, particularly when I can hear the incessant chatter from the boiler room he's working in.

He tried once again and I hung up.

Be careful out there...

 

[richc]

Here's a PM dealer talking about his level of business today. And he reminisces about the lines at the coin store during the Hunt Brothers attempt to corner the silver market.

 

[DJBrad]

Here's a PM dealer talking about his level of business today. And he reminisces about the lines at the coin store during the Hunt Brothers attempt to corner the silver market.

Good perspective from a dealer, thnx.

 

[Varmint]

Here's a PM dealer talking about his level of business today. And he reminisces about the lines at the coin store during the Hunt Brothers attempt to corner the silver market.

Judging by how popular the Costco PM deals are, we could be seeing a stampede if silver takes off. Even $50 would be a modest price historically.

 

[DJBrad]

Judging by how popular the Costco PM deals are, we could be seeing a stampede if silver takes off. Even $50 would be a modest price historically.

Silver moving could be the catalyst for miners.

 

[richc]

When demand is strong dealers don't discount prices...

Also not seeing the "due to unprecedented demand shipping is delayed X days" messages anywhere.

Interesting...

https://www.apmex.com/category/90241/gold-bars?_campaign=03042024-category90241-priceplay-corebullion-homepagehero

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion

Buy Gold, Silver, and Platinum bullion online at JM Bullion. FREE Shipping on $199+ Orders. Immediate Delivery - Call Us 800-276-6508 - BBB Accredited.

www.jmbullion.com

 

[Varmint]

When demand is strong dealers don't discount prices...

Also not seeing the "due to unprecedented demand shipping is delayed X days" messages anywhere.

Interesting...

https://www.apmex.com/category/90241/gold-bars?_campaign=03042024-category90241-priceplay-corebullion-homepagehero

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion

Buy Gold, Silver, and Platinum bullion online at JM Bullion. FREE Shipping on $199+ Orders. Immediate Delivery - Call Us 800-276-6508 - BBB Accredited.

www.jmbullion.com

Yeah it’s still a hated rally, which is good, it means the rally is beginning, not ending.

 

[richc]

Judging by how popular the Costco PM deals are, we could be seeing a stampede if silver takes off. Even $50 would be a modest price historically.

The thing that confuses me is the sales at Apmex and Bullion Exchange. The lack of shipping delays we saw in past runs.

In my mind the price drops during record price increases indicates this is not retail buying. It's something bigger.

Central banks? Very wealthy individuals? Companies? Not sure, but big sales don't happen during periods of huge demand.

Unless these dealers know something? They're betting prices are going to retreat next week and they want to minimize their inventoriestr before a price reversal?

I dunno.

 

[Varmint]

The thing that confuses me is the sales at Apmex and Bullion Exchange. The lack of shipping delays we saw in past runs.

In my mind the price drops during record price increases indicates this is not retail buying. It's something bigger.

Central banks? Very wealthy individuals? Companies? Not sure, but big sales don't happen during periods of huge demand.

Unless these dealers know something? They're betting prices are going to retreat next week and they want to minimize their inventoriestr before a price reversal?

I dunno.

Retail (small coins/rounds and bars) is only 20% of the gold market so gold’s rally is not retail buying it’s central bank and institutional buying most likely.

 

[richc]

Retail (small coins/rounds and bars) is only 20% of the gold market so gold’s rally is not retail buying it’s central bank and institutional buying most likely.

Which would be good if the retail community has not jumped on board yet.

Here's what us mere mortals know, there are more buyers than sellers right now...

 

[Varmint]

Bill Powers had on Nick Santiago the other day who was claiming a $1500 gap needed to be filled before an explosion upwards. With the current macro backdrop I do not see that fishing line drop as a plausible scenario.

Hey Nick, still waiting for $1500 gold?

To be fair, in a more recent interview he was predicting $1600 gold, and said it might not happen.

 

[DJBrad]

Hey Nick, still waiting for $1500 gold?

To be fair, in a more recent interview he was predicting $1600 gold, and said it might not happen.

Hearing Lance being as arrogant as he typically is on the weekend show made me laugh. He was saying there is a “perfect correlation for bitcoin, NVDA, and gold” rising together. Not once in his annoying tonedeaf technical speech did he mention the big and little cup’n’handle nor any macro fundamentals for gold. He’s never wrong, always says “but” as an argument to sound elitist towards Adam, and doesn’t mention his losses from TLT last year as well as small and mid caps he was buying.

 

[Varmint]

Hearing Lance being as arrogant as he typically is on the weekend show made me laugh. He was saying there is a “perfect correlation for bitcoin, NVDA, and gold” rising together. Not once in his annoying tonedeaf technical speech did he mention the big and little cup’n’handle nor any macro fundamentals for gold. He’s never wrong, always says “but” as an argument to sound elitist towards Adam, and doesn’t mention his losses from TLT last year as well as small and mid caps he was buying.

I hadn’t tried Taggart’s new podcast, but not crazy about the new Wealthion. I’ll check it out. I heard Lance on a different podcast and he wasn’t in arrogant fund manager mode, which was surprising.

 

[Varmint]

Another day another new gold high, $2195.

 

[DJBrad]

Another day another new gold high, $2195.

Back to $2184

 

[Varmint]

Back to $2184

Interesting that Jordan Roy Byrne said that gold doesn’t usually retest on major breakouts. That would mean we won’t retest $2100 if he’s right.

 

[DJBrad]

Interesting that Jordan Roy Byrne said that gold doesn’t usually retest on major breakouts. That would mean we won’t retest $2100 if he’s right.

Technically that’s a long way to go now. We are poised for $2300. I think JRB said $4-$5k on this next cycle top.


I’d like to see the pants shitting and arms flapping disappear wrt gold. Every msm piece of coverage gives this fud assessment of gold as if the debt based system of the world is a “safe” and “stable” form of lifestyle.

 

[Varmint]

Breakout!