Just that.

Currently $2,171.00.

I'm thinking it breaks through $2,200.00 by end of month.

Bitcoin is testing its high, too.

There's that.

I bought quite a bit of gold, for me at least, over the last 3 years or so. After Biden stole the office I parked most of my retirement funds and started putting any extra cash into gold. I've missed out on some good movement in the stock market so the fact that my gold is up some helps. I bought a lot around $1800/ ounce.

Although I didn't buy gold as an investment I bought it more as insurance against inflation or a currency crisis. I have mixed feelings about it going up in price because I wanted to buy more before it did.

It has become more difficult for me to buy gold due to bidenflation. Three years ago I usually had enough extra cash to buy a few ounces a month. The increase in all my expenses made it to where I had enough extra each month for maybe an ounce.

Lately I've found too many good deals on guns so my gold money has gone for those. I like having a mix of tangible assets like gold, silver, guns, ammo, and reloading components. A local shop has had lots of reloading bullets on sale for 40-50% off the last few months. So my extra cash has gone to copper and lead lately too.

I couldn't pass on the pre 64 model 70 for under $700 that I found today either. I was planning to use that cash on 3 tenth ounce gold eagles so I could get closer to filling my 2 tubes but those are easier to find than the deal I got on the rifle.

Bb

$2,186.00, now, and climbing.

Since silver is still a dog, it's likely that we are still very early in this upswing. Typically, silver lags way behind when gold is soaring until right near the end of the gold bull market, then suddenly shoots above, even, the percentage gains made by gold. The likely cause of this is that the general public only become aware of what's going on with gold when it's past the price where they can afford any, so turn to silver, which drives its price up, too.

Stock Market also a new highs.


Inflation is a real contributor to all the gains.

It is, indeed, but metals are nowhere near where they should be by a simple calculation of inflation (which would put gold on the order of $10,000.00 per ounce), which suggests that their prices have been purposefully suppressed for a long time.

When this happens, you get what's known as "the beach ball effect," i.e., when you hold a beach ball under the surface of the water, and the surface level rises (analogous to inflation), the beach ball will become increasingly more difficult to hold down. Once it slips from your control, it will not only rise to the surface level (analogous to matching inflation), but will soar up past that level, and high into the air (analogous to far exceeding a price level explained by inflation).

[Linked Image]

BINGO!

It is not so much that Gold or BC are testing new highs... moreover... it is that the held dollar is testing new lows.

Copy that...

I agree somewhat.

I took a beach ball to a Red hot chili pepper show

$2,200.00 has been broken. My prediction was correct. It's now, in the midst of the trading day, $2,207.00.

When I was 15 years old, the U.S. defaulted on Bretton woods.

The dollar is down ~98% vs Gold since then.

The ounce of gold that was $40 then, is (as of the moment) spot priced at $2,200 (plus a street premium of $50 - $100 per ounce).

The only prediction I will make is that this 53 year trend will continue, and we will likely see the beach ball at some point (reference to Hawkeye post above).

When I was a senior in highschool in 1965 gold was $35.00 an ounce, how times have changed.

If the demand was there, it would be $10,000. Who is imposing these price caps?

Over 2k is just a start, the US is broke broke and to solve the problem they will continue printing money until it's 1,000,000 an ounce.

The banking/government cartel.

One big way they manipulate it is to increase the number of unbacked paper contracts for gold that are introduced to the market. If the natural price gets too high, they dump unbacked gold contracts for sale onto the market, which creates the impression to the market that, suddenly, gold is far more plentiful on the market than it actually is. Same for silver.

What can defeat this strategy is real physical demand, such as from national banks (who only want verifiable physical bars), and from increases in popular demand for physical gold and silver throughout the world, due to a sense that financial and monetary disaster is on the horizon.

Some one in this tread talked about selling gold I guess?
He talked of a 50 dollar per ounce fee.
So if gold is 2000 and ounce and I sell 3 ounces, should I get 6150 from a dealer? Or does he take a 50/ ounce dollar cut, and I get 5850?

Most of the gold market is paper gold. It ain’t really there. We may get a replay of 1933 when folks want their physical gold.

Paper gold is what keeps the price down. It should be worth multiples of what it is now.

Personally I think junk silver is the way to go. It’s underpriced and readily accepted.

Where I go to sell gold coins, they give me 97% of spot $$ that day, in cash.

Shoulda listened when it was $900 and climbing 😟

It varies widely. Dealers take their cut both selling and buying, i.e., from both ends of the trade. The better trick is to talk people into providing services (e.g., auto mechanics, roofers, plumbers, etc.) who agree to be paid in silver or gold, based on the valuation of what it would cost them to acquire it in said form at a dealer.

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

That's a very good deal. The spot actually, momentarily, surpassed that price just yesterday, during trading hours, then dropped down below it, a bit. Then back up again, but not quite rebreaking that resistance point. I suspect that, before the end of the month, we'll be looking at $2,200.00 spot in the rear view mirror.

A more apt way to say it, yes, i.e., measure the value of the Federal Reserve Note based on how much real money (gold/silver) you can get in exchange for it.

That said, the beach ball effect is a real thing, too. In other words, gold can catch up to, then far surpass, the inflation level, based on enthusiasm combined with distrust of the dollar.

Just to catch up to the inflation level, it would need to exceed something on the order of $10,000.00 per ounce. In other words, had no efforts to suppress the prices of gold and silver been taken in the last 45 years, that's where it's price would be today and, like a beach ball applying upward pressure on the person holding it under the water, it will strongly seek that correct price level, and then far surpass it, once control is lost.

When was silver at $50?

Hunt Bros... trying to corner the market.

https://en.wikipedia.org/wiki/Silver_Thursday

Interesting. Thanks.

In 2012, it peaked at $47.00 at the close of the trading day, but during the day it touched $50.00 per ounce.

Maybe you should invest in beach balls.

You have an issue with the use of analogies? I find that they are helpful for making esoteric subjects more understandable.

I have a problem with specious analogies.

Placer gold
You are correct, I think this was assayed at 85%.
No fees.

It's a perfect analogy for the phenomenon I was discussing. You, of course, are free to differ, but that means you're asserting that, after being held down artificially for decades, metals will merely rise to their natural price level and no higher. History, however, has not borne your theory out.

Eleven grand

I used to say "Gold, guns, and guitars go up at 3% compounded, which is background inflation."


I need to add gunpowder to the list. Re23 went up 16.7%/year compounded over the last 6 years.

Isn't Alliant owned by VSTO? It's up 14.18% in a year, 7.81% YTD. (Still not beating the S&P 500 over the short run, but way ahead of the S&P 500 over 5 years.)

If you think with numbers.....

Magnificent Seven Stock Performance 5 years

Alphabet Inc. (GOOG) 152.29%
Amazon Inc. (AMZN) 80.19%
Apple Inc. (AAPL) 340.40%
Meta Platforms Inc. (META) 137.05%
Microsoft Corp. (MSFT) 240.09%
NVIDIA Corp. (NVDA) 1094.64%
Tesla Inc. (TSLA) 807.56%

Up.

Also in 2011.

Naked shorts and rehypothecation.

Going to head fake and then destroy a lot of paper wealth.

Consider your counterparty risk when thinking about where to park your years of hard work.

Which stock would be best to own in the event of a currency collapse?

The one that pays the most dollars.

Probably not one held by some financial institution where all you have is paper.

Dealers or places that buy gold and silver on pay you a certain percentage of spot price.

Tarbe, not an investment guy at all, can you dumb this down for me? I'd like to hear your theory, and short version is fine lol, Thanks.

I became more than tempted and bought $2000 worth.

Worth of??

What did you do Ed, have indigestion at lunch, and spent your pocket change on an oz? Laughing!

I am always happy for guys who made good choices and sacrificed when younger and they paid off!

Well, it busted clean through my prediction for this month. It closed today at $2,218.30.

S&P now at 5200.

Pundits predicting the Dow will cross 40,000 within 6 months.