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Gold and silver prices are down
- Thread starter Rider
- Start date
HappyHarry
NES Member
Sorry I couldn't chime in earlier, I've been away in warmer climes for a few weeks. It looks like a nice AU (about uncirculated) coin that would retail for just a bit over its gold content value. Keep in mind it is not a full ounce of gold - it has .9675 troy ounces of gold. It definitely does not look uncirculated to me, there are definite signs of wear.
HooVooLoo
NES Member
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Yep. Your gold coin which shows sings of wear is going to affect the London spot. Yep Look at it go!
(I mean seriously, who the f*** cares about your coin? What is your problem, dude? This is a trading forum, not a retail whining forum.)
June contract up above $2200
Spot closing in on an all time monthly close which will convince general investors that the bull run is firm.
Spot closing in on an all time monthly close which will convince general investors that the bull run is firm.
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Varmint
NES Member
Gold making another go at $2200.
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steven grammont
NES Member
I feel like Apmex robs you on the shipping costs. I buy from a reputable guy out of Pennsylvania, he charges $6 for the shipping , and I generally get 10 ounces at a time.
richc
NES Member
I saw a report last night saying the premium on silver has gone up some.
Love Machine
NES Member
No one here seems to like Kitco.
- Joined
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Ugh.
I like Walmart and Costco.
Don’t be surprised if we get a massive silver squeeze like the Hunt bros era.
Don’t be surprised if we get a massive silver squeeze like the Hunt bros era.
Varmint
NES Member
I listen to KE Report which used to be a Kitco podcast but not sure it still is. Never bought from them. I’ve only bought from EBay.
Korelin Economics Report used to be a Kitco podcast?
20 Silver Eagle
$554 after 5% back with Walmart credit card is $27.70 per. Note I have not bought from the particular seller until today, but they seem ok.
$554 after 5% back with Walmart credit card is $27.70 per. Note I have not bought from the particular seller until today, but they seem ok.
Varmint
NES Member
Yeah it used to be Kitco Radio KE Report. I think they were just hosting it, not sure there was any relationship.
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Varmint
NES Member
Gold is pounding on the door of $2200.
On its way to $1400.
On its way to $1400.
Varmint
NES Member
Gold silver ratio just hit 90:1.
So it’s 90 worthless rocks to one worthless rock.
So it’s 90 worthless rocks to one worthless rock.
It would be yet another positive sign for gold to close the month above $2200. I think we can do it 
Argonaut Gold acquired by Almos gold. ARNGF is up 27% this morning.
Maybe those A&Ms will occur in earnest.
Maybe those A&Ms will occur in earnest.
I was going to say it was better than being worthless bit patterns, but then I realized that 98% of the gold and silver I own at the moment is "paper gold" and "paper silver", and we don't even use paper anymore. Hence, most of my worthless rocks are just bit patterns, too. It's depressing when you think about it, so I'm going to stop thinking about it.
Varmint
NES Member
I was going to say it was better than being worthless bit patterns, but then I realized that 98% of the gold and silver I own at the moment is "paper gold" and "paper silver", and we don't even use paper anymore. Hence, most of my worthless rocks are just bit patterns, too. It's depressing when you think about it, so I'm going to stop thinking about it.
GLD and other PM ETFs are backed by physical gold at least. It’s unlikely to go to zero, it’s just that if gold triples overnight you’d probably not get that gain in GLD.
Varmint
NES Member
Most investors lost 90-95% on Argonaut so 27% isn’t going to late them feel any better.
Varmint
NES Member
There’s no resistance levels up here so gold seems to just be drifting up.
Only a few things could take gold back to $2000:
- Fed talking about rate increases
- stock market crash (>10%)
- economy heating up (similar to first one)
An end of month and end of Q1 spot price of $2200 is very bullish. Tomorrow’s market close should be full of fanfare.
June ‘24 Comex contract at an all new 52wk high.
Varmint
NES Member
And junior gold miners still at multi year lows. Very strange. When they eventually move it’s going to be violently with all these shorts on the books.
Win
NES Member
We are at the point in this PM run where I get FOMO, buy as much as I can reasonably afford, and then we get a pullback ![[thumbsup]](/xen/styles/default/xenforo/smilies.vb/044.gif "Thumbs Up [thumbsup]")
Varmint
NES Member
We are at the point in this PM run where I get FOMO, buy as much as I can reasonably afford, and then we get a pullback
If this is the run to $2500 and $3000, and it sure looks like it, pullbacks will be short.
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