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Gold and silver prices are down

There was a big jump in the gold price in the waning minutes of yesterday's open market.

Did someone learn some info towards the end of the day that is important? Was one of the big boys trying to avoid showing their hand by buying at the last minute? Was there concern about some terrorist act over the Easter weekend?

That giant bump has meaning. Me... I'm thinking Varmint made a huge purchase that he didn't want to advertise, and hopes people forget over the long weekend...

:)
 
Varmint said:
I never understand why with US investors (and I don't mean you), the more expensive something gets, the more people like it.

Do we go to Best Buy and say "I like this TV, call me when it goes up $200."

I just don't get it. Nobody wanted gold when it was $1200 six years ago, or $1600 last year. Now at $2250, there's a stampede.
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Same reason 9mm is 0.25/rd right now, but in 6 months people will be here talking about shortages and will be buying steel cased garbage and start reloading.
 
Varmint said:
I never understand why with US investors (and I don't mean you), the more expensive something gets, the more people like it.

Do we go to Best Buy and say "I like this TV, call me when it goes up $200."

I just don't get it. Nobody wanted gold when it was $1200 six years ago, or $1600 last year. Now at $2250, there's a stampede.
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Few wanted it at $287.00- $300 an ounce 26 years ago either. [laugh] ..........or silver @ $7-$8 an ounce.
 
RJDN 04 said:
cant wait to see what happens on Monday - should see more climbs
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The large uptick at the close has meaning. People don't generally buy a commodity like gold/silver if they think the price is going down.

A surge of buying at the close is really interesting. Likely not last minute thinking. Likely planned. Someone didn't want to tip their hand during the day.

No doubt in my mind it will move up or down on Monday.
 
richc said:
There was a big jump in the gold price in the waning minutes of yesterday's open market.

Did someone learn some info towards the end of the day that is important? Was one of the big boys trying to avoid showing their hand by buying at the last minute? Was there concern about some terrorist act over the Easter weekend?

That giant bump has meaning. Me... I'm thinking Varmint made a huge purchase that he didn't want to advertise, and hopes people forget over the long weekend...

:)
Click to expand...

I’m broke. It was just short covering before the long weekend.
 
Grendizer138 said:
I don’t want to get all Rob Boudrie, but 400% over 26 years isn’t much of a return.

And I had other things on my mind in the 90’s 🙂
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Gold is very cyclical. It’ll go up 8x in 10 years followed by 10 years of no net gains.

We just had 13 years of going nowhere (2011 to 2024) and now gold has entered one of its bull market phases.
 
richc said:
The large uptick at the close has meaning. People don't generally buy a commodity like gold/silver if they think the price is going down.

A surge of buying at the close is really interesting. Likely not last minute thinking. Likely planned. Someone didn't want to tip their hand during the day.

No doubt in my mind it will move up or down on Monday.
Click to expand...
No doubt in my mind it will move up or down on Monday......

Nice way to hedge your bets :)
 
Grendizer138 said:
I don’t want to get all Rob Boudrie, but 400% over 26 years isn’t much of a return.

And I had other things on my mind in the 90’s 🙂
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Yes, I understand. I didn't acquire it to produce a return, it was bought as a stable form of recognized currency.

It sits in the safe, doesn't eat or drink anything and isn't costing me anything.
 
Uzi2 said:
Yes, I understand. I didn't acquire it to produce a return, it was bought as a stable form of recognized currency.

It sits in the safe, doesn't eat or drink anything and isn't costing me anything.
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There’s a definite opportunity cost, but I do the same.

I don’t even really pay attention to price anymore beyond buying a little more if there’s a dip in price and a little less if there’s an increase.
 
WanMan99 said:
No doubt in my mind it will move up or down on Monday......

Nice way to hedge your bets :)
Click to expand...

I'm just not smart enough, or care enough. to think about daily ups and downs.

I am smart enough to know the US Government is spending us into oblivion. running $1 Trillion deficits every 90-100 days, and killing our country and economy. And that gold/silver thrive in times like this.

The daily moves are basically irrelevant.
 
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richc said:
I'm just not smart enough, or care enough. to think about daily ups and downs.

I am smart enough to know the US Government is spending us into oblivion. running $1 Trillion deficits every 90-100 days, and kill out country and economy. And that gold/silver thrive in times like this.

The daily moves are basically irrelevant.
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Remember we got all excited about gold crossing $2100? That was a huge event, now it’s obvious why. Gold is starting to show up on the screens of traders and FOMO may start up.
 
Varmint said:
Remember we got all excited about gold crossing $2100? That was a huge event, now it’s obvious why. Gold is starting to show up on the screens of traders and FOMO may start up.
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@Varmint Any thoughts on silver? I am so tempted to throw my $ cost averaging aside and go big on physical silver. But I have been very disciplined the last ~14 years and have bought a higher ratio of gold to silver but silver seems so undervalued. Make me rich Varmint, or else 😂
 
yogi said:
@Varmint Any thoughts on silver? I am so tempted to throw my $ cost averaging aside and go big on physical silver. But I have been very disciplined the last ~14 years and have bought a higher ratio of gold to silver but silver seems so undervalued. Make me rich Varmint, or else 😂
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Personally I think silver has more upside potential overall.

Gold is at its all time high. Silver is half of its all time high.

But I also think there's a lot more market manipulation in silver.
 

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