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Gold and silver prices are down

Daddy Mac said:
Silver Eagles at $20 were my comfort zone. The current price has my sphincter in a knot.
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No kidding. When I started 4 years ago spot was around $15-ish and I was getting them on sale for $2 over spot!!!! They can take the 50%+ premium and.....well, ya know. I'll stick with Perth, and what ever SD puts on sale that catches my eye.
 
tommyh said:
No kidding. When I started 4 years ago spot was around $15-ish and I was getting them on sale for $2 over spot!!!! They can take the 50%+ premium and.....well, ya know. I'll stick with Perth, and what ever SD puts on sale that catches my eye.
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I spent every extra dollar on silver and gold back then.
 
I still see layoffs and margin calls over the next several months. Can gold really overcome all of that and rise in those months? IDK. After that I think gold really takes off.
 
Win said:
I still see layoffs and margin calls over the next several months. Can gold really overcome all of that and rise in those months? IDK. After that I think gold really takes off.
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I don't think mere mortals like us can ever time this. If another war breaks out, like Serbia and Kosovo, then gold likely rises. The situation in the Ukraine ends and gold likely falls.

I think over the past decade a lot of money that previously would have gone into gold, silver and other PM's went to cryptos. Should the crypto market continue to fall I see that as a positive for PM's.
 
Those are all fare points. I don't know how long the crypto market can last but I agree with you that it's contributed to a buying opportunity.

What I don't see yet, that I think we are likely to see in the next several months, is panic. I see a lot of investments declining in value but not panic selling; not people being forced to sell things they don't want to sell. That's where I think we could see the gold price decline in the near term. In the longer term I don't have a price target for gold. I would continue to buy gold if it went over 5K. I'd just have to switch from buying ounce sized increments to smaller 1/2 or 1/4 sized increments. I like the young head Victorian sovereigns. I might start a collection there whenever gold starts running away.
 
Win said:
Those are all fare points. I don't know how long the crypto market can last but I agree with you that it's contributed to a buying opportunity.

What I don't see yet, that I think we are likely to see in the next several months, is panic. I see a lot of investments declining in value but not panic selling; not people being forced to sell things they don't want to sell. That's where I think we could see the gold price decline in the near term. In the longer term I don't have a price target for gold. I would continue to buy gold if it went over 5K. I'd just have to switch from buying ounce sized increments to smaller 1/2 or 1/4 sized increments. I like the young head Victorian sovereigns. I might start a collection there whenever gold starts running away.
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Margin calls when people have no other funds available generally feed into this type of frenzy...
 
It feels like equities and PMs are still on a tether, but every now and again, the line gets taut. I suspect it will take a shock to disconnect them, but they will go the same direction at first (down) when it happens. Will be interesting after.
 
I'm at about 65/35 Premium Governmental Coin (PGC) to Generic Rounds/Bars (GRB) and I'm comfortable with that.
My GRBs consist of mostly top-tier generics like Engelhard, J.-Matthey, Sunshine Mint and Scottsdale mint. With a few pre-1960 rough pours in there.

I do believe that generics have a place in stacking, just not as high as PGCs...

 

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