precious metal prices, what is your prediction?

[cpt_sfc]

Only my 2 cent,t, NOT even a old quarter worth of info. Where I live gold and silver won't come into play until long after a fall. People do buy it but it is for very long term. Lots of Amish and real woods type folk around so trading will become the source for hard to get or needed items. As my long dead father told me over and over was that in the great depression a box of 22 shells went for a once of gold. If the person was even going to sell the 22 as it was (ammo) all scarce. Food came first then ammo, gas, heat, womens clothes, tires, oil, etc. I really don,t have a ton of money to buy everything so I bulk up on what I use and what I know others use in this area. The local hardware owner can give you a lot of insight to what he sells most of. Don't forget simple things like small tarps, rope etc.Gold , silver is good but you can't eat it or keep the rain off. People will not give what you think the value of metal is for awhile. If pennys were really copper they would be worth more, SHTF

[rockriver]

I saw a comment on gold elsewhere and went to check prices... I haven't since my last time on here.
I tried to copy/post a chart and it didn't work.
but gold is climbing for the last couple of months... about 1250 now.
anybody know how to post a chart or even a link that would be quick to read ?
(if posting such a thing is "legal")
i'm guessing it may be if we don't advertise for a certain company???

[Lowdown3]

Precious Metal Spot Prices
Metal Bid Ask Change
Gold $1,257.60 $1,259.60 $6.60
Silver $18.33 $18.43 $0.23
Platinum $1,021.50 $1,031.50 $19.60
Palladium $769.70 $774.70 ($1.10)

Last Updated: 2/24/2017 5:00:07 PM ET

https://www.apmex.com

[rockriver]

well,
the stock market is rising... I thought gold/silver would go down in that environment..
for some reason... which I surely don't understand... people holding pm prices up!
gold 1250
silver 18.25

I looked back through a bunch of our comments..
two caught my attention.

it would take frn's to get a loaf of bread.. not pm..
hmm. i'd take the pm if I was a baker.

"not worth an "old quarter" that old quarter is probably worth a loaf of bread! (pre 64)

what if I was in the "fixed income retiree" category... lol..
and what if I had no more pay raises, no more cost of living increases.
the real world cost of goods, would be something that I would watch. and hopefully plan for.

an example.
a relative retired 30 years ago.. he was an engineer and made a good income... after he retired I got him to tell me his income.
small soc. sec. check
small military check (ww2 full time then national guard)
engineer retirement check.
wow. I was impressed... he and spouse would be in good shape!!

about 15 years later I got him to share information again.
soc. sec.. had gone up about 40% military check had gone up about 40%
his "big" check was the same..
I was not impressed at all.
what was the difference?
the purchasing power of his retirement check had crashed.
same amount of $$ just it wouldn't buy as much.

huge lesson to me.

[Lowdown3]

Definitely have to consider inflation and purchasing power.

However think about this-

Not THAT long ago silver was commanding $35. and more an ounce. $48. was the spot high that I remember in the later oughts IIRC. Now at $18. How's that for purchasing power? Slashed in half!!

Gold has a similar story- upwards of just under $2K an ounce in the later oughts. Dropped back to a hair under $1,100. at one point. I have a couple purchases recorded in the book at right around that as some seller on Ebay was doing an "at spot price" sale, in other words no premium. I also have a $1600. coin purchase- upside down of a couple hundred purchasing power still 5 years later.

What did silver run up to in the late 1970's? I can't remember the exact number but it seems to me it was mid double digits, want to say I remember hearing $80. for some reason. From the early 90's till mid oughts you could have bought silver well under $10. pretty much any time, with spot hovering as low as $4. or so several times.

So let's say a "fixed income retiree" in the late 70's said "oh crap, the S is fixing to HTF and the dollar won't be worth squat. I'm going to sell everything and buy silver at $80. cause this precious metal dealer (sales person) told me it is going to $5,000. an ounce soon due to Carter's inept financial policies." Didn't pull this out of a hat, read some of the old survivalist newsletters (Mel Tappan, etc) from that time period.

So let's say he drops his $80K life savings into 1,000 ounces of silver. Hey, don't tell me this doesn't happen, I can't tell you how many people I've talked to over the last 25 years of talking to like minded people on the phone every day have told me they were considering or had done similar moves!

If for some reason this guy was still alive now, the Alpo he has been buying with his SSI check evidently giving enough nutrition to sustain him for the last almost 40 years, his $80,000. investment" would be worth $18,000.

I get the purchasing power argument, but there is a real example over the time period most all of us have been around - late 1970's till now.

Be interesting to see what an $80K investment in Apple then (or near to that) would be worth now??

Finding that baker that will trade bread for PM's now, takes some finesse and then could/will cause some OPSEC issues.

"There is that crazy young guy that always wants to give Todd a silver coin for pastries all the time." Small towns, small talk. Same thing happens in larger towns too.

I have traded PMs for gear at times, sometimes just to see "offers" that people give you. Have had some absolute ridiculous ones.

One time when spot gold was at $1595. a "christianprepper" more or less DEMANDED that I be happy to take a 1 oz. coin for a $2,000. optic. "Well ma'am, the coin is worth $1600. and the optic is worth $2,000. and I don't really need the coin, I still have to have the cash flow to replace the optic. Can't send FLIR an 1 oz. coin and some cash for a replacement." Her reply- "that's the offer, take it or leave it!" Really? That's hillarious! Hard ball offer from someone not in any position of power or making a decent offer to begin with.

I'm afraid a lot of preppers are going to make ridiculous "offers" like that with little experience in sales/marketing/negotiation and then feel crushed or wronged because their shiny stuff doesn't open the doors of Heaven for them.

[1Admin]

Anyone know the exact highest historical price for gold and silver during the run up in the 1970's?

A chart from the time Nixon took us off the gold standard to now would be good to see the highs and lows.

[John_Galt24]

it's been a month...
and time to check the upward progress of your pm stores.. (notice I said "yours!")

two ways to think about it...
1. O sheet!! it's down. I lost money!

2. Yee Hah! buying opportunity. even better than when ld asked.

take your choice... or choose both! me... I just made another purchase and disposable monies are limited right now!

gold is about 1250
silver is about 17.50

for gold that is about 5% down from our starting point of 1320
and
for silver about 12% down from our start of 20.

I always see it as a buying opportunity. I'm all about....

LINK REMOVED

[rockriver]

I remember someone with a similar name that I haven't seen on the net in a long time.
jg24.
sing out....

[rockriver]

with the no. Korean threats of war... I wondered what gold/silver were doing...
gold spot 1292.
silver spot 17.22

no significant change since this thread started.

I don't remember the question about a chart, but that would be interesting...

[rockriver]

it has been a while!
5 months since someone reported.

a gold nut associate is "getting out"

he is not a "prepper" nor is he "preppy"
when i asked why sell now? his answer was "i'm adding a building at the cabin."

so i checked spot prices and remembered this thread.

gold 1336
silver 17

silver down from original post... gold about the same!!

[Lowdown3]

I remember someone with a similar name that I haven't seen on the net in a long time.
jg24.
sing out....

No. He was just some a-hole that was here briefly spamming some crappy PM company. Gave him the benefit of the doubt and he showed himself to be a loser.

It isn't THAT guy, that predicted the economy crashing when the Dow was at 10,000 I wasted a lot of time listening to that dunskie also....

If you had bought gold when that dunskie said it was a good deal ($1,600.'ish) instead of a decent mutual fund when the Dow was ("about to crash" at 10K), you would still be upside down $300. or so on your gold. Your stock market investment however probably would have doubled by now (or more).

Scare mongers like that guy rarely stay one place long cause their BS predictions fall apart. Only the ones with short memories listen to them after too many "this is it" type pronouncements.