I thought $15. was the bottom??

[prc-104]

My best SWAG is give it 10 to 12 more days of little ups and downs but if it doesn't go back down by then, it'll likely go higher.

[Patriotic Sheepdog]

been watching both as well...silver sitting at $28.28 and gold at $2057 now...

I think both are being bought by people and countries, which brings supply and demand into play I guess...I will be watching close and let it play out for a bit, but I may sell some at some point....

[rockriver]

i had some highway time today... called 2 folks... a coin civilian but active. primarily buying.. officer in coin club. and a retired large bank officer..
coin civilian... at monthly club meeting a new member bought 20 eagles and paid over a 1000... that's 50+ per eagle...! he recommends buying at all price levels... several new members in the club... lots of interest compared to a year ago...

bank officer... gov't is printing money, as fast as they can... injecting money into the country at every opportunity... trying to boost spending and keep the populace happy... and fed... most of rioters are collecting nice big fat checks every week. need to devalue money supply to offset crazy high deficit spending... using cheap money to pay off old debts...

[Lowdown3]

Maybe some folks that bought at high prices back in the 2010-11'ish range will finally be able to off load their investments that aren't called investments when price is down soon.

Precious metals guys- "Buy silver at $38. it's only going higher."

Regular guy- "Hey my silver is under $15. for years, my investment is well under half value."

PM guys- "well you see it's not an "investment" it's a "hedge against inflation."

Regular guy- "Well it's not hedging"


Decade later-
Precious metals guy- "My INVESTMENT in silver at $20. is now over $28. my investment produced well"

Regular guy- "But when it was down in price it wasn't an "investment", now it is?

Precious metals guy- "Gold will go to $5,000. and silver to $100. soon... soon....soon.....soon... " Ooops, the record was skipping again!

Given most people's time frames, PM's remain a horrible investment over the long term. It seems like a honey trap right now- AS IT DID FOR MANY IN 2008-2011 time period. Be careful.

If anything, you want to sell any PM's you've been upside down in for the last DECADE after the last precious metals marketing bonanza of "the dollar isn't going to be worth anything", The dow is going to zero" and "Gold is going to $5000. and silver to $100."

Folks, it's the same sad marketing song I've heard for 35 years.

I would be selling now, small amounts at a time. Plug holes in other preps, pay off debts.

Buying an ounce of silver right now at $33. an ounce after premium is a little cray cray in my opinion.

[prc-104]

Best advice I ever got in the last 50 years was this.

Get your gold and silver at the right price.
Be very very patient since it's a long, long, long, long term investment.
Eventually, when it doubles in price, then you sell half.
You have your gold and silver free and clear and your original investment back.
Start investing when the next bottom feels correct.
Wait for the next inflation fired thing which might be 10 or 15 years.
and do it over again.
Never, never be an in and out person.

Remember, the combination is:
Ammo,
PM's ie: Au, AG
Land

No more land being made.
Effectively only so much AU & AG
Lots of ammo around ........until there isn't.

The above is all LONG TERM ADVICE.
In the meantime, assure all of your daily short term needs are/will be met.

[rockriver]

prc, great advice... i've rec'd it before in relation to some other products... i failed to follow it.. then...
to my great loss.

[rockriver]

just to check prices, i went to apmex.... looking at silver eagles..
the best price i saw was 39.18.... silver at 27.53
folks, that is a $12 premium!! there are a bunch folks on the buying side of silver for this premium to be so high..
when i bought at 20.00 i think the premium at that coin show was about 2 to 3$
i think a crowd of folks are buying. or,,, the pmi retailers and that survivalist crowd are just scaring the poop out of civilians.

[Patriotic Sheepdog]

So, just for giggles I looked back to when rr did a restart on this thread. I saw on Jan 27,2020 silver was $18.09 and on March 23rd, 2020 silver was $13.78. Today's spot is $28.22. So if you were a wise investor, in 20 weeks you could have doubled your money....those paying attention could have done well.

[prc-104]

Short comment:
Watching gold and silver and the ups and downs.
As of this morning, it's giving me a deja vu from the last time silver bumped $50 an oz.
Feels like the beginning for the wild swings.
This feels like the early beginnings of the same thing again.
Swings started, got wilder and more severe.
Then smoothed out and prices were high.
Lasted maybe two weeks and then got slammed by the banks back to where ithe real pricing was buggered again.

[Lowdown3]

Gold
$1,863.10($10.50)
Silver
$22.22($0.95)
Platinum
$843.40($16.60)
Palladium
$2,277.40($45.90)


What was I saying about selling?

But wait, my buddy that pushes PMs told me Gold was going to $3000. an ounce and silver $100.

Yep, been hearing that BS since the early 90's.

Sold a good bit of my metals mining stocks FINALLY where I could sell at a little profit. Kept some for if things do go 2011'ish again. We will see.

[prc-104]

Always a fun ride.
Comment: I also remember when I was being told gold was going to $1500/oz and eventually, it did.
Considering the inflation and pissing away the value of the USD, $, I could see $3000/oz.

I suspect, this time after the drop back it will skip past $3k and go to 5 or 6k.
Just me and I have a lot of patience.

[rockriver]

interesting thread...
looking back at the numbers... last year mid summer and comparing to today.. see ld's chart to the right.
silver 25 and gold 1818...

not a lot of difference and biden/govt.... spending $$ like there is no tomorrow...
i put spending, but "giveaways" would be a better word...

so metals about where they were a year ago. ?

[prc-104]

?????so metals about where they were a year ago. ? ????

Yep, Gold is not a fast mover like silver
But when it does move, hoo-boy

Gold takes a lot of patience but I've always found it worthwhile.

Sit on gold and hold it, it's savings, not a spendable.
When gold does move, try to find close to the top and sell half of your gold and get cash.

Then 4 months, 6 months, a year later, take that cash and buy gold.
Then you are back with more gold than you started with.
After that, be very patient again.

Unless the USD is failing, then I'd hold onto all the gold.

[rockriver]

i haven't been watching silver till a couple of days ago and it was 21. something... then today 22.51
i had a couple of $100 and thought i'd pick 8

i thought the price for an eagle would be 22 plus a few $
shocked to see premium at about 9$ over

called a friend that knows a lot more than me. he says physical silver in industry is costing more than futures market... more than spot... that doesn't make sense to me.
he's active in a coin club and has told me that members buy and trade at club meetings... so i thought i'd ask for an invite to a meeting... he gave me an invite but said i would not be getting any cheap silver... at the last meeting some folks brought some eagles but didn't want to sell...
one member had bought some guests who wanted eagles... no one would sell till the guests offered 50 per eagle... and guests seemed happy!
--
i don't mind paying a few (2 to 3$) over spot but not 9...

gold is 1757.

my bride went grocery shopping at local grocer and sams today...
she came home saying prices are jumping.