Home Forums Hunting & Shooting Hunter's Campfire Gold is Testing $2,200.00

Let me get this straight. There is this big conspiracy that everybody knows about that is mind-tricking everyone to think that gold is plentiful by selling paper gold, thereby artificially keeping the price down across the board, all the while counting on the fact that a lot of people are stupid and don't actually want physical gold in their possession. If that were true, wouldn't all the "informed" people and the conspirators (including the central banks wanting their verifiable physical bars) be backing up the truck buying all the physical gold they could get their hands on, thereby lowering the supply held by the companies that supply physical gold, thereby raising the price of the now more scarce commodity? Wouldn't that, in turn, cause a run by the paper holders? (I guess the conspiracy needs to be mindful of that, act as a group, and only back up the compact sedan occasionally over a long period of time.)

As for me, $2,200 is way more than I would pay for an ounce of real or paper gold. So, I fall on the "no demand" side of that equation without regard to the conspiracy. Enjoy!

Your scenario is essentially correct. When it comes to the nut cutting the use of gold will be outlawed just as it was in 1933. There is a huge amount of paper gold that has no gold backing it. Same thing came to a head in 1933 when there were 3X the gold certificates out than there was gold. You won’t find the big buyers holding paper. You will see.

Got some gold so that is good news.

And quite a bit of junk silver that I'm hoping for the beach ball thing to kick in on.

Absolutely, needless to say I have a lot more silver than gold. Would be nice to see silver back at $50 or more.

So what is one's intent in holding gold, particularly in the miniscule piece of ones portfolio when I have asked in the past? I am just ignorant on this, honestly.

For me personally it's no different than any other investment, stock market, guns, classic cars, or even baseball cards. Few years ago a good deal came along on some property and I cashed in some of my precious metals and did quite well. Doesn't take the place of my 401(k) just diversifies it. I'm not a hoarder, if it's up and I need cash I'll sell and if it's down and I have cash I'll buy.

In the event of hyperinflation, few other assets would be as valuable.

Given what % of one's worth holding now?

I'm curious, too. The extent of my holdings and knowledge of precious metals involves only what we discuss the most here.

I suspect that the little guy is a lot less likely to hold paper gold than the big dogs who deal in digital everything. (A cynical view, such as frequently found on this forum, would figure that the big dogs would get a bailout anyway. Right?) Then you threw in that the government will just make it a crime to own or possess gold. What are people going to do with their contraband gold in the meltdown? Use it to bribe their way into Mexico or Cuba?

Paper gold may be a way to cheat suckers and make money for the people who broker it, but I don't believe that there is this massive conspiracy to run the price of gold down. But, people who believe this and aren't afraid to hold contraband gold should take this buying opportunity and convert every asset they own into cheap(er) gold while they can. I'm going to sit that opportunity out. If I'm wrong, oh well.

Dang. That's pretty high, I hope the Garand I traded an ounce for a couple of year's ago is worth 2K, kinda doubt it.

But at least I have a Garand.!

You pay a % on the buy and sell.
There is so little margin in dealing in gold coin or bullion that I did not order it for customers when we had our jewelry store.
I would get charged a % over spot and would have to add a % to my sale price.
I would rather buy scrap gold and I have bought a lot. I guarantee I will make way more on the sell than I ever could
buying coin or bullion.

Couple years old but pretty good explanation on gold manipulation https://www.numismaticnews.net/coin-market/is-golds-price-manipulated

I'm in the same boat. When it was 1k per oz, I bought my neighbor's shotgun with some one-tenth oz coins. Sure wish I hadn't, now. That shotgun is long gone, and I'd much rather I still had the gold.

Link doesn't work for me.

Today our Costco had 1oz gold bars for $2200

Gold was 1600 at the time, the gun is very nice, still own it, came with 180 rounds of lake city ammo. Reckon I'll keep it for awhile.

Typically can buy gold here from a miner for 85% of spot, no fees.

Good way to buy it John because when you refine it some of the weight will reduce because of impurities, when you go to sell or trade it refined or still in nugget form then you will have to haggle price.

Norm

The US dollar is at a new low on the Gold Standard.

In what form?
Placer gold typically runs a average of about 70-90% of pure. I typically figured 78% when buying.
If sending in for refining your return will be based on net weight of pure minus cost to refine.
You are or were basically paying spot and some