ECON Hey Gang! Silver is Over $21!

Quiet Man

Quiet Man

Nothing unreal exists
So transparent...

"Gold prices could move to $1,725 by year end ($1,700-$1,750/oz range) ..."? Yes, and much further -- higher.

J.P. Morgan: Can gold continue to shine?

www.jpmorgan.com

Can gold continue to shine?

Gold can play an important role against an uncertain outlook for markets.
www.jpmorgan.com www.jpmorgan.com

(Don't bother reading IMO).
 
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Grock

Grock

Veteran Member
JPMs massively shorting silver has kept silver in the basement for a decade. Meanwhile, guess who has accumulated a massive stockpile of physical silver?
It should be a crime, and yep, it is. But paying the occasional fine is no problem.
 
CaryC

CaryC

Has No Life - Lives on TB
Question for all y'all:

Bloomberg TV is showing gold at roughly 20.00+ LESS than Fox business.

Example yesterday BTV had gold at around 1975.00 and Fox Business had it at 1992.00.

Was wondering why the difference? Any thoughts?

I can understand oil being different, using different suppliers WTI vs Brent. But Gold?

ETA: if you have an answer, please quote me, or I'll forget to check back. Thanks
 
Quiet Man

Quiet Man

Nothing unreal exists
CaryC said:
why the difference?
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Could be various factors, such as when (exact time of day) they took the quote, whether they quoted Spot or a Futures contract, etc.. For example I am seeing $2,000.60 on futures and 1986.20 Spot right now. In reality, there are many 'markets'.

Added: ...and prices are, more or less, constantly in flux.
 
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CaryC

CaryC

Has No Life - Lives on TB
Quiet Man said:
Could be various factors, such as when (exact time of day) they took the quote, whether they quoted Spot or a Futures contract, etc.. For example I am seeing $2,000.60 on futures and 1986.20 Spot right now. In reality, there are many 'markets'.
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Thanks I'm a tad richer watching Fox. So will stick with that one LOL.
 
Quiet Man

Quiet Man

Nothing unreal exists
CaryC said:
Thanks I'm a tad richer watching Fox. So will stick with that one LOL.
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Right. LOL. Keep in mind, though, that you still have the same number of 'ounces' while the purchasing power of fiat falls, and this is going to happen in dramatic waves as we go forward.
 
CaryC

CaryC

Has No Life - Lives on TB
Quiet Man said:
Right. LOL. Keep in mind, though, that you still have the same number of 'ounces' while the purchasing power of fiat falls, and this is going to happen in dramatic waves as we go forward.
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Yeah, and I think that once fiat falls (the dollar has made a comeback in recent days) gold/silver will only be worth what someone will trade for it.

Which if it goes back to the Reconstruction days of the late 1860-1870's one could get 40 acres and a house and barn, and mule for an ounce.

Read a story somewhere recently, where the same thing happened in Germany......after WWI (?).

Just thoughts.
 
Steel Chips

Steel Chips

Veteran Member
CaryC said:
Question for all y'all:

Bloomberg TV is showing gold at roughly 20.00+ LESS than Fox business.

Example yesterday BTV had gold at around 1975.00 and Fox Business had it at 1992.00.

Was wondering why the difference? Any thoughts?

I can understand oil being different, using different suppliers WTI vs Brent. But Gold?

ETA: if you have an answer, please quote me, or I'll forget to check back. Thanks
Click to expand...

The 2 quotes are different because the higher price is a futures (paper), near month quote, and the lower price is the spot quote. Futures quotes are usually higher than than spot quotes, but not always. Generally, the further out the futures quote month, the higher the quote price.
 
Doc1

Doc1

Has No Life - Lives on TB
CaryC said:
Yeah, and I think that once fiat falls (the dollar has made a comeback in recent days) gold/silver will only be worth what someone will trade for it.

Which if it goes back to the Reconstruction days of the late 1860-1870's one could get 40 acres and a house and barn, and mule for an ounce.

Read a story somewhere recently, where the same thing happened in Germany......after WWI (?).

Just thoughts.
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Cary, if you think about it, the part of your post I highlighted is true each and every day for everything under the Sun. The so-called spot price for gold is - and has been - highly manipulated for many decades. The spot price is really, ultimately, just another banker product. I pay attention to it because everyone else does and it does serve as a standard (of sorts).

In reality, the spot prices represent values far below what they should be.

Best
Doc
 
Quiet Man

Quiet Man

Nothing unreal exists
Doc1 said:
The so-called spot price for gold is - and has been - highly manipulated for many decades. The spot price is really, ultimately, just another banker product... In reality, the spot prices represent values far below what they should be.
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Nicely said. I'm over 60, and I'm pretty sure that I have never seen natural, 'free market', activity in the PM markets in my lifetime... yet.
 
Quiet Man

Quiet Man

Nothing unreal exists
CaryC said:
Which if it goes back to the Reconstruction days of the late 1860-1870's one could get 40 acres and a house and barn, and mule for an ounce.
Click to expand...
I recall reading a similar story... An elderly woman's life savings, prior to the Weimar hyperinflation, were worth less than the cost of a new postage stamp at its end.
 
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Quiet Man

Quiet Man

Nothing unreal exists
Silver pushing on $26 again.
1596558565430.png

Added: Gee, I wonder how many paper silver ounces will be traded on COMEX today...
 
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TxGal

TxGal

Day by day
So, American Silver Eagles vs. 1/10 oz American Gold Eagles? Obviously the ASEs are more 'affordable' so to speak, but I do wonder about the smaller AGEs. I seem to swing back and forth, but tend to favor the ASEs.
 
Hfcomms

Hfcomms

EN66iq
Dennis Olson said:
Whether you get silver or gold depends on the "mission" you see for those coins. As I've said multiple times, I see silver as the "spending cash", while I see gold as "bribe your way to freedom" cash.
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Agree in principle but what I really see the purpose of gold and to a lessor extent of silver is that it provides a bridge between this failing debt driven fiat currency system into the next system and along the way you might be able to make some good gains as well.

You will preserve your purchasing power while others are left with paper currency that is currently being used as napkins in Venezuela because it doesn't buy anything. It's not so much that gold/silver are going 'up' right now but that the dollar is being devalued by the minute as it costs many more dollars to buy the same amount of metal than it did six months ago.
 
Hfcomms

Hfcomms

EN66iq
Dennis Olson said:
You'll never "make gains" when you convert to FRNs. That won't happen.
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Of course not. Your gains comes in purchasing power of the metals. I.E. when people don't want gold then gold doesn't buy as much real goods. When everyone wants gold the purchasing power of that coin goes up. The ultimate in free market capitalism without the paper games.
 
Quiet Man

Quiet Man

Nothing unreal exists
TxGal said:
but I do wonder about the smaller AGEs.
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I like the 1/10 toz USGE because I think that gold valuations will reach heights most can't imagine now, and it will be handy to have smaller units. Silver almost certainly will have greater gains than gold, but it will also be a 'wilder ride' with the occasional crazy huge pullbacks. I expect to sleep better with a mix of metals and denominations.

I also think that Junk Silver, (pre-1965) dimes (my favorite), quarters and half-dollars (all 90% silver; 10% copper), is an excellent choice for the silver part of the equation.

Added: I've never acquired 40% Junk Silver, but that may be a good value proposition if you are not concerned by the extra weight.
 
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Truthsearch

Truthsearch

Doom is ALWAYS 6 Months Away...
Silver just hit $26 spot price
Some premiums are at $10 over spot price
Essentially silver is $35 an ounce now
What does all of this mean? Would now be a good time to go buy some silver for those of us who don’t have any?
 
West

West

Senior
It now only takes 77 ounces of silver to trade for a ounce of gold. Just month or two ago it took 100.

I'll start trading at 50 to 1. Then also start buying gold.

Silver is still a buy if you have the FIAT to buy it. Stop buying silver though at 50 to 1.

Will not trade or sell the core stack.
 
S

Sub-Zero

Veteran Member
Dennis Olson said:
“Now” is not when you need gold. It’s when a warlord has a gun at your head and society has crashed.
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Well, if there's not now, there won't be in the future. Where we're at is the best option, if we can save it. If not, let's go full tilt boogie and make it not worth having.
 
West

West

Senior
WAG...

Silver to $100, gold to $4000. Plus or minus. But best guess is a 30-40 to 1 ounce of gold, ratio in 2021.

All bets are off if Trump loses or Biden trys to steal it. Or a compleat fed currency collapse.

If Trump makes a big win, expect a good correction in the PMs, but only temporary.
 
T

tanstaafl

Has No Life - Lives on TB
CaryC said:
Which if it goes back to the Reconstruction days of the late 1860-1870's one could get 40 acres and a house and barn, and mule for an ounce.
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As far as I know they didn't really value things in terms of gold and silver ounces since there was circulating money that contained both precious metals. A $20 gold Double Eagle contained 0.9675 troy ounce of gold, so you're essentially saying that "40 acres and a house and barn, and mule" were in some places worth $20 in 1870. According to an inflation calculator, "What cost $20 in 1870 would cost $409.61 in 2019," so how hard up for cold hard cash would you have to be to sell all that for $410 today?
 
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