|
Joined: Jun 2011
Posts: 516
Campfire Regular
|
OP
Campfire Regular
Joined: Jun 2011
Posts: 516 |
You would think that at times like this ......that it would have gone through the roof . What gives ?
|
|
|
|
Joined: Jan 2005
Posts: 12,359
Campfire Outfitter
|
Campfire Outfitter
Joined: Jan 2005
Posts: 12,359 |
gold is smarter than the news media
|
|
|
|
Joined: Nov 2011
Posts: 31,069 Likes: 4
Campfire 'Bwana
|
Campfire 'Bwana
Joined: Nov 2011
Posts: 31,069 Likes: 4 |
Usuall,
Good question.
Best I can tell, it was just another casualty of across the board panic selling. During the panic every asset class was indiscriminately sold, stock, bonds, commodities, even the cryptocurrencies got killed, it just didn't matter, and Gold and Silver were victims of this selling as well.
The only asset safe havens appeared to be bottled water, ammo, and toilet paper.
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
|
|
|
|
Joined: Mar 2010
Posts: 24,291 Likes: 12
Campfire Ranger
|
Campfire Ranger
Joined: Mar 2010
Posts: 24,291 Likes: 12 |
I am trying to find the answer to that question. Maybe a few of the smart investor guys on here can chime in. Ive read various reasons.
Based on what I know gold and precious metals have not increased as well as stocks the past 3 weeks. I like the somewhat low prices now and slowly accumulating in down turns. Probably pick up more slowly.
Last edited by ribka; 03/31/20.
|
|
|
|
Joined: Dec 2008
Posts: 8,322
Campfire Outfitter
|
Campfire Outfitter
Joined: Dec 2008
Posts: 8,322 |
Try to find physical gold or silver right now .... hint - you can't. There is disconnect between wall street prices and the street.
Lots of selling pressure on gold as it gets sold to cover losses in equities. Give it a few months, I think it will rip 30% this year as global synchronized money printing goes into over-drive.
"Life is tough, even tougher if your stupid" John Wayne
|
|
|
|
Joined: Mar 2010
Posts: 24,291 Likes: 12
Campfire Ranger
|
Campfire Ranger
Joined: Mar 2010
Posts: 24,291 Likes: 12 |
Try to find physical gold or silver right now .... hint - you can't. There is disconnect between wall street prices and the street.
Lots of selling pressure on gold as it gets sold to cover losses in equities. Give it a few months, I think it will rip 30% this year as global synchronized money printing goes into over-drive. thanks for input
|
|
|
|
Joined: Nov 2005
Posts: 54,284
Campfire Kahuna
|
Campfire Kahuna
Joined: Nov 2005
Posts: 54,284 |
Try to find physical gold or silver right now .... hint - you can't. There is disconnect between wall street prices and the street.
Lots of selling pressure on gold as it gets sold to cover losses in equities. Give it a few months, I think it will rip 30% this year as global synchronized money printing goes into over-drive. I haven't tried to buy any, but from what I've seen here, you are right. There seems to be a big difference between SPOT and what you can actually buy precious metals for. That hasn't always been the case.
|
|
|
|
Joined: Jun 2002
Posts: 131,828 Likes: 31
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,828 Likes: 31 |
You would think that at times like this ......that it would have gone through the roof . What gives ? Easy. The reason is that the COVID 19 virus is shutting down the economy, causing companies and corporations to have trouble paying their regular bills, since they are not getting their usual income. What this means is that, in order to make those payments, these companies are selling their gold and silver holdings. When lots of people sell something all at the same time, it exerts a downward pressure on the price of that something. So we have pressure in two directions operating simultaneously. Firstly, economic and monetary insecurity causes there to be a desire to acquire gold and silver, which is an upward pressure on the price. Secondly, there's a downward pressure on the price from folks needing to sell their holdings in order to pay their bills, since their usual sources of income have been cut off or dramatically reduced (think restaurants, resorts, nightclubs, and on down the line). The upward pressure is overtaking the downward pressure, but only slightly. Once COVID 19 is gone, the need to sell gold and silver will fade as an influence on the price.
|
|
|
|
Joined: Jun 2010
Posts: 13,958 Likes: 4
Campfire Outfitter
|
Campfire Outfitter
Joined: Jun 2010
Posts: 13,958 Likes: 4 |
I know you cant get physical gold right now.
|
|
|
|
Joined: Jun 2002
Posts: 131,828 Likes: 31
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,828 Likes: 31 |
I know you cant get physical gold right now. Or silver.
|
|
|
|
Joined: Jun 2002
Posts: 131,828 Likes: 31
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,828 Likes: 31 |
Try to find physical gold or silver right now .... hint - you can't. There is disconnect between wall street prices and the street.
Lots of selling pressure on gold as it gets sold to cover losses in equities. Give it a few months, I think it will rip 30% this year as global synchronized money printing goes into over-drive. This.
|
|
|
|
Joined: Jan 2001
Posts: 29,919 Likes: 10
Campfire Ranger
|
Campfire Ranger
Joined: Jan 2001
Posts: 29,919 Likes: 10 |
Probably because in our modern cashless society, few of us have the ability to actually use the stuff. Filing off a grain here and there for a loaf of bread is a pain in the rear.
Last edited by 1minute; 03/31/20.
1Minute
|
|
|
|
Joined: Oct 2004
Posts: 23,373 Likes: 2
Campfire Ranger
|
Campfire Ranger
Joined: Oct 2004
Posts: 23,373 Likes: 2 |
You would think that at times like this ......that it would have gone through the roof . What gives ? No inflation. Gold is your hedge vs inflation. Likely have deflation in some sectors (see petroleum now).
"The Democrat Party looks like Titanic survivors. Partying and celebrating one moment, and huddled in lifeboats freezing the next". Hatari 2017
"Hokey religions and ancient weapons are no match for a good blaster at your side, kid." Han Solo
|
|
|
|
Joined: Jul 2010
Posts: 8,516 Likes: 6
Campfire Outfitter
|
Campfire Outfitter
Joined: Jul 2010
Posts: 8,516 Likes: 6 |
Gold was volatile before the virus.
Sometimes +/- 100$ in 2 days.
When the market started to dive.....margin calls demand $$$$$$$ and gold was sold.
Gold and silver still available in any amount.
|
|
|
|
Joined: Jan 2005
Posts: 38,918 Likes: 9
Campfire 'Bwana
|
Campfire 'Bwana
Joined: Jan 2005
Posts: 38,918 Likes: 9 |
Maybe people are smarter than we give them credit for being?
Not a real member - just an ordinary guy who appreciates being able to hang around and say something once in awhile.
Happily Trapped In the Past (Thanks, Joe)
Not only a less than minimally educated person, but stupid and out of touch as well.
|
|
|
|
Joined: Dec 2008
Posts: 8,322
Campfire Outfitter
|
Campfire Outfitter
Joined: Dec 2008
Posts: 8,322 |
Gold and silver still available in any amount.
I think the gld index on wallstreet is a futures contract market, not the physical stuff. All the local shops and online sellers are out of the physical stuff. Look at what prices are on ebay, The best price on ebay is around $1830 for a 1 oz canadian maple leaf. Within a week of the crash all the physical stuff was sold out. I had to order some when prices dropped, none available anywhere around me. Orders for gold and silver were backed up 15 business days for shipping in the big shops. Like TP, there was a run on PM.
"Life is tough, even tougher if your stupid" John Wayne
|
|
|
|
Joined: Feb 2010
Posts: 17,927
Campfire Ranger
|
Campfire Ranger
Joined: Feb 2010
Posts: 17,927 |
|
|
|
|
Joined: Nov 2011
Posts: 31,069 Likes: 4
Campfire 'Bwana
|
Campfire 'Bwana
Joined: Nov 2011
Posts: 31,069 Likes: 4 |
Gold and silver still available in any amount.
I think the gld index on wallstreet is a futures contract market, not the physical stuff. All the local shops and online sellers are out of the physical stuff. Look at what prices are on ebay, The best price on ebay is around $1830 for a 1 oz canadian maple leaf. Within a week of the crash all the physical stuff was sold out. I had to order some when prices dropped, none available anywhere around me. Orders for gold and silver were backed up 15 business days for shipping in the big shops. Like TP, there was a run on PM. Nope. The GLD is physically backed with gold: https://www.ssga.com/us/en/individu...lgE8ZWUqpAA0A6tolujdRNC-D8MaAu2VEALw_wcB
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
|
|
|
|
Joined: Jun 2002
Posts: 131,828 Likes: 31
Campfire Sage
|
Campfire Sage
Joined: Jun 2002
Posts: 131,828 Likes: 31 |
Reflecting a real price of $1,950 per oz where the rubber meets the road.
|
|
|
|
Joined: Apr 2011
Posts: 151,842 Likes: 20
Campfire Savant
|
Campfire Savant
Joined: Apr 2011
Posts: 151,842 Likes: 20 |
It may go up if this cshit lasts much longer.
|
|
|
|
540 members (1Akshooter, 007FJ, 10ring1, 10gaugemag, 12344mag, 160user, 62 invisible),
2,438
guests, and
1,345
robots. |
Key:
Admin,
Global Mod,
Mod
|
|
Forums81
Topics1,193,046
Posts18,500,875
Members73,987
|
Most Online11,491 Jul 7th, 2023
|
|
|
|