ECON Precious Metals General Discussion (was Gold Up over $30.00 Silver over $30.00) [OP from July 2024]

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AuEagle

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NOTE: I unlocked this thread because it’s a “special case.” A running thread on PM prices isn’t necessarily “hot news,” so I’ll reopen the thread. However, for other types of news stories, content is always required. And accurate links. - Dennis


Gold $2362.00 Silver $30.50 as of this post.

Homepage | GoldSeek

goldseek.com goldseek.com
 
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I will note that it's getting more and more difficult for the elites to rig the precious metals markets. Much of this difficulty is due to the BRICS and - more or less separately - the Shanghai exchange. Of course the ultimate blame for the ongoing rise of the PMs can be laid squarely at the feet of our western financial elites and their ongoing and irresponsible creation of more and more "money" and its inevitable byproduct of inflation.

Any of our board members who have not yet begun to stack silver and gold are, at least in my opinion, way behind the curve. Precious metals are not a panacea; one should have food, water, weapons, fuel and any number of other things put away as we head into an uncertain future. Still, nothing has historically held its value over the centuries as well as gold and silver.

IMHO, having your savings exclusively, or even mostly, in US Dollars is foolish. Dollars over time continuously lose value, whereas the PMs tend to hold or increase in value. Am I saying to burn your cash? Of course not! Cash (including your bank balances) has great utility in day to day transactions and everyone should hold a substantial amount of physical cash at home, outside of the banks.

Got gold (and silver)?

Best
Doc
 
perhaps I have a somewhat twisted view of precious metals
I consider them to be the constant and the dollar to be the variable
gold didn't go up ----the dollar went down

ETA---PMs are somewhat of a canary in the coal mine in relation to certain world events as well
 
Raggedyman said:
people often make the mistake of considering PM's an "investment". they are NOT "investments" they should be looked at as a mechanism of capital PRESERVATION
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They might well increase in purchasing power going forward and perhaps massively increase in purchasing power but that isn't why you buy them thinking the price is going up. An ounce of gold is still an ounce of gold and will buy today an equivalent of what it bought a hundred years ago.

With a bankrupt government and planet for that matter it isn't return on principal but return of principal.
 
Hfcomms said:
They might well increase in purchasing power going forward and perhaps massively increase in purchasing power but that isn't why you buy them thinking the price is going up. An ounce of gold is still an ounce of gold and will buy today an equivalent of what it bought a hundred years ago.

With a bankrupt government and planet for that matter it isn't return on principal but return of principal.
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I buy them because I expect they will increase in purchasing power and barter power as the US dollar dies. We are not in Kansas anymore. I think it is a GRAND mistake to think along former financial truisms. Remember the old days of Price to Earnings? Value investing? All gone, all rules changed at the whim of the overlords.

It is all naked greed and speculation. Meanwhile............... our Empire is dying world wide and the traitors are, IMHO, about to launch an all out violent attempt to crush normal patriotic Americans. Ditto for Canada, that I love dearly.

I also think we are in the end game. If PM's shoot up in purchasing value in the next while, I'll use them. If things don't go totally chaotic, I'll use them. They will go up in value and in bartering power as our banking system falls apart.

In 2022 Russia pegged the Ruble to gold. At roughly a gram per barrel of oil. Compare 31.1 troy grams in an ounce of gold. Divide that into a rough number of US dollars that a barrel of oil costs, and you will come out to roughly between $2300-$2400.

Odd, yes?

Maybe we are already into a gold pegged system and we haven't been told yet.
 
Blacknarwhal said:
Criminy....prices like these makes me want to go watch videos about pulling gold out of e-waste with vinegar.

...anyone ever actually hear of this?

7:43 Gold extraction using salt and vinegar.

View: https://www.youtube.com/watch?v=6DIBV5W4jWo
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Yes. I have pulled gold out of computer pins. The new stuff is a light coat. The older stuff is heavy gold as it was cheap and still the best conductor. I have some pins from NASA used in their old boards. Good amount of gold in them.
 
Bubble Head said:
Yes. I have pulled gold out of computer pins. The new stuff is a light coat. The older stuff is heavy gold as it was cheap and still the best conductor. I have some pins from NASA used in their old boards. Good amount of gold in them.
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Been stacking pin boards for years. Often muse that I would cut them down as small as possible then grind into sand basically. By using a improvised crusher or alike. Like the old timers did to remove leaf gold from quarts. Then acid bath, or alike etc....

What you think?

ETA,... about 10 minutes of a interesting crusher...


View: https://youtu.be/C4ULt2Emv2E
 
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AuEagle said:
Friday Gold Close $2390.00+
Friday Silver Colse $31.21

Homepage | GoldSeek

goldseek.com goldseek.com


Homepage | SilverSeek

silverseek.com silverseek.com

Both above sites give up to the minute Precious Metal Spot Prices, the Dollar, Dow etc...
They also have many articles that are updated daily.

Thanks for reopening the thread. Is this content/description acceptable?
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Maybe have a warning, that the above sites push/sell real coin monies as investments etc...
 
Gold down $16.00
Silver down $.19
As of this post.

Profit taking.

The market is so strong. Everyone called for a significant pullback, and none occurred.
 
Murt said:
perhaps I have a somewhat twisted view of precious metals
I consider them to be the constant and the dollar to be the variable
gold didn't go up ----the dollar went down

ETA---PMs are somewhat of a canary in the coal mine in relation to certain world events as well
Click to expand...
Yup. I try to explain this to people but peoples minds are so set on $

i bought some silver at $26, now its $30.
So right now silver is up about 14% over what I paid. Inflation since the time I bought that round of silver has went up way more on a lot things that 14%.
So if I sold my silver today for $30 I would be able to buy less with the $ return than when I purchased. At the present value of the dollar is eroding faster that the $ value of PMs is gaining. Gold is doing better in that respect but is it keeping up with actual inflation.

I didnt buy it to make $ off of it. I bought it a preserver value to be used when needed.

Kinda like Clif High predicting $600 silver. I read a lot of people’s comments getting all yippidy giddy over that. They were seeing $$$$$ flashing before their eyes. Clif went on to say if silver does hit $600 you will not like the world you live in.
Kinda means to me that it will take $600 to buy what $30( todays spot price) does today, give or take.
 
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