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Metals-Age: Gold, Silver, and Hedging Inflation crikey!
- Thread starter Unknown?
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StreetsofBeige
Gold Member
Congrats to all you metalheads! I never delved into precious metals as I focus on other stuff, but ya gold and silver and probably some other metals all zooming up.
Always enjoy seeing anyone make money in any investments. It's a hard enough life to grind out a pay stub. So to make some extra cash on the side is always a blessing whether it's for myself or other people making bank.
Always enjoy seeing anyone make money in any investments. It's a hard enough life to grind out a pay stub. So to make some extra cash on the side is always a blessing whether it's for myself or other people making bank.
Jinzo Prime
Member
I guess it's too late to get into gold. Wow.
DownLikeBCPowder
Member
Long term it's going much higher, we can hope for some solid pullbacks in order to acquire moar.
Unknown?
Member
This is exactly right
Jinzo Prime
! Saying it's too late now is what people said when it hit $1000, $2000, and $3000. What IS too late is banking on fiat currency and anything denominated in fiat currency.Watch this short clip from a documentary, it explains how the monetary system works that we have right now that's been had for the past 54 years.
DownLikeBCPowder
Member
Futures are .70 cents away, a good chance we break it today. I really wonder how it will behave once it crests 50.. !
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DownLikeBCPowder
Member
The suspense is killing me! I dislike so much how traditional markets close - I can't wait for the day that traditional markets are 24/7 like crypto. It also irks me endlessly that underlying assets can continue to move after or before market, but vehicles derived from them such as options are frozen. Let's see what happens tonight and tomorrow morning.
Unknown?
Member
Same here. With silver it keeps fluctuating. Up and down, up and down. It still is net positive by a lot today but down quite a bit from how high it was($49.50). Thought today was the day for new all time high.
I've noticed that recently it can get smacked down but it never stays down and usually rises back to what it was , then is followed by a rise higher.
pel1300
Member
Jesus, what will it take for gold and silver to finally go down for a good entry point? It's been way too high since covid.
I guess we need years of economic stability first.
I guess I'll wait for the next crypto bear market to buy Bitcoin as my hedge against inflation. At least with that you can get some exciting gains.
I guess we need years of economic stability first.
I guess I'll wait for the next crypto bear market to buy Bitcoin as my hedge against inflation. At least with that you can get some exciting gains.
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StreetsofBeige
Gold Member
Agree with you guys about 24/7 trading. But if there needs to be limits for sake of limiting stupidity and making sure markets are skewed to be open for people working in the industry during waking hours, there should simply be access or standard trading hours for all.
No pre-market or after hours. Or, everyone gets it standard from their trading company.
For example, some Canadian banks give access as standard features. But my bank doesn't allow it unless I trade in US$ from a US$ account. But my bros accounts can trade no problem using CDN $ and the bank converts as normal.
I'm not a big enough trader to bother asking for standard access like my bro's banks or creating a US$ account. But it's a funny thing because we chat about stocks all the time and sometimes they trade after hours, but since I cant all I can do is see the action, but cant participate. lol
No pre-market or after hours. Or, everyone gets it standard from their trading company.
For example, some Canadian banks give access as standard features. But my bank doesn't allow it unless I trade in US$ from a US$ account. But my bros accounts can trade no problem using CDN $ and the bank converts as normal.
I'm not a big enough trader to bother asking for standard access like my bro's banks or creating a US$ account. But it's a funny thing because we chat about stocks all the time and sometimes they trade after hours, but since I cant all I can do is see the action, but cant participate. lol
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Unknown?
Member
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DownLikeBCPowder
Member
I mean, realistically Silver and Gold were still dirt cheap after Corona. Put it in a historical perspective - Silver was still very cheap until a few months ago when it started to rally beyond low 30s. There's no logical reason either one of them should have been so cheap with the decades of wreckless money printing by central bankers across the world - they are merely manifesting some reality here for once, playing catch up if you will. Many have been trained to disregard real money (literal constitutional money) by design as it infringes upon the power of fiat/decree money, but I think that era is ending and it will be abrupt and unsettling to many, rather suddenly.
Realistically, we won't see those prices again with Gold and Silver, IMO. Perhaps I'm wrong, but I don't think so. More concerning is what this rapid appreciation versus fiat monies implies - it's not good no matter how you slice it. Best bet is to try as best you can to prepare for what Gold and Silver are trying to tell us.
As far as Bitcoin - pretty much the same. Perhaps we will get some dips, but BTC is probably priced about as good as you're going to get plus or minus a few 10k. Too much new money is about to enter that sphere and it is inherently limited in supply. Bitcoin will be millions of dollars IMO - we'd be lucky to see the 50k range again moving forward.
I could be wrong about all of that - and some parts of me hopes to be wrong due to the damaging financial implications of it - but I really don't think so. I think the big one is finally upon us and things are just going to get much rockier from here on out. If you want to own Gold, Silver, or Bitcoin, my (non financial) advice would be to start purchasing now, not later. Don't go dumping everything you own, but start dollar cost averaging or slow accumulation (of course, with money you can afford to lose).
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Unknown?
Member
And with bitcoin and metals you don't have to buy big! Gold can be bought in half ounce, quarter ounce, 10 grams(3/10 ounce), 1/10th ounce, or even goldbacks that have 1/2000th ounce of gold and are only a few dollars to buy!
Inflation-Resistant Gold-Backed Currency | Goldback
Goldbacks offer an inflation-resistant, gold-backed currency for everyday use. Preserve wealth, hedge against inflation, and support local economies. Learn more!
www.goldback.com
DownLikeBCPowder
Member
Well, as has been the case recently silver ended yesterday by heading down but by this morning had already jumped back up to fresh highs.
Today could be the day, eager to see what the trading day brings.
Today could be the day, eager to see what the trading day brings.
DownLikeBCPowder
Member
We made it! 
Now let's see what happens today.
Now let's see what happens today.
Unknown?
Member
Both have gotten hit hard. Silver got up to $51.22. Back down to $48 range and gold back below $4,000. I don't think it will last.We made it!
Now let's see what happens today.
The banks are trying really hard to smash it because they are all short on silver. They are losing millions when silver goes higher but I bet by next week it will be back to what it was and higher by the end of October. I could be wrong though and if it goes way down, I will be buying more!
DownLikeBCPowder
Member
What did you get into?
Grildon Tundy
Member
IAU and SLV. Blackrock, baby
Unknown?
Member
Here's a good listen. Seemingly the paper market is deteriorating. He also explains backwardation, which is spot price above futures. It means people want their silver now and physically more than waiting for a contract later.
Mike from Rethinking the Dollar has an interesting take. He points out how both metals hit all time highs but not really hitting the mainstream media, instead you're getting crypto news as sort of a distraction(in his opinion) and it is weird. Anytime the stock market hits all time highs it's ALL OVER the news and same with crypto but metals don't make waves the same way.
Mike from Rethinking the Dollar has an interesting take. He points out how both metals hit all time highs but not really hitting the mainstream media, instead you're getting crypto news as sort of a distraction(in his opinion) and it is weird. Anytime the stock market hits all time highs it's ALL OVER the news and same with crypto but metals don't make waves the same way.
DownLikeBCPowder
Member
Indeed it is in backwardation. I don't trust the paper silver markets - I fully expect one day they will completely decouple, so I don't hold any paper silver for long term purposes. I think they are good vehicles for speculating on the price in terms of relatively short term trades (this is what I use them for), but I personally wouldn't buy them to hold them. For me, it must be physical metal.
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DownLikeBCPowder
Member
Easily, IMO. I think that could happen very shortly - reading about some Indian ETFs shutting down new capital, some American dealers freezing/halting.. could cause a big run in the short term. Premiums are becoming enlarged for physical. Something big is happening. I think the jig is finally up for the paper market suppressors. Leasing rate is skyrocketing - we could see some large player bankrupted from this in the end.
I had great returns on calls, but I think we're going significantly higher - I'm holding. Scared of the paper asset, but I've taken a lot out already, keeping the rest for moon shot.
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DownLikeBCPowder
Member
My silver and silver miner calls have been performing so epically the last 3 weeks.. still holding a lot of them because I feel we haven't had any real top despite technicals implying overbought conditions. Hodling.
Unknown?
Member
I'm not familiar with how technicals work but I just don't buy the overbought thing I've been hearing.
Silver is still nowhere near its inflation adjusted all time high so there's still lots of upward room to move but also the general public isn't exposed to precious metals even close to their exposure in stocks and there's a historic shortage. Overbought to me means everyone(big money/little money) has bought some and it isn't desirable anymore. That isn't the case, desirability of the metals are higher than ever(due to loss of faith in the financial system) and very little of the general public have any or are even aware of how they are performing.
Also mathematically it simply has to go up and it's merely responding to high inflation from the world reserve currency. The more M2/M3(which they don't show anymore) goes up, the less valuable the dollar gets and real assets rise.
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DownLikeBCPowder
Member
Another epic day. Still waiting for the actual rocket fuel to be deployed on Silver..! Awesome gains with silver mining company calls for me this whole week.
Unknown?
Member
Holy crap! Gold is up $180 so far in just one day. Silver up $1.92 in one day, well into the $54 range at $54.36.
DownLikeBCPowder
Member
Yep - thus far there's really no explosive energy in Silver. It's just slowly and steadily creeping up in a bullish fashion - I think the best is yet to come, it is entirely possible and I do believe we won't see under 50 again before too long.
Unknown?
Member
And now it has been smashed but going straight up in a parabolic nature all the time is not healthy. A pull back is good and so is consolidation. I doubt the pull back will last, this extreme volatility is a sign of paper markets on the verge of breaking or maybe the manipulators have more control than we thought.
DownLikeBCPowder
Member
Agree - even with the selling, spot and futures still well above 50 USD. I'm going to use the opportunity to pick up a bit of physical for the time being with the paper call profits from these past weeks.
Unknown?
Member
I believe it still was an all time high weekly close or very close. Here's a good listen by Mario, explaining how redeemable gold currency is needed for personal economic freedom. Hitler, Lenin, Mussolini all banned redeemable gold currency. Also goes over yesterday's pullback.
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DownLikeBCPowder
Member
I've seen it referenced multiple times that some amount greater than annual mining or production capacity was traded in paper that day, but no idea about the truth.
Just a few more minutes to see how futures open.
Unknown?
Member
If it is true then they really have lost control because that is a ton of paper to keep it just below all time highs.
DownLikeBCPowder
Member
I think the "rehypothecation gig" is, indeed, up. We will have to see how things play out.
Unknown?
Member
There's some major fuckery going on today. Idk what to make of it but for a market that's broken and can't provide physical right away(having to ship via plane to rush it), not sure how it is getting hit so hard.
What I hate is that despite record highs and such a huge rise, the media isn't covering it much. When it's hitting records the media and influencers are pushing stories about crypto and as soon as the metals show a normal pull back suddenly the, "bull run is over" nonsense articles start coming out.
If it drops like crazy into the 30s or even 20s I will just buy more physical. I've been thinking about getting some goldbacks too.
Here's a good analysis by Arcadia Economics. In his opinion the constant massive increases and slams are geopolitical, he also explains very well the price suppression model they've always used.
Good article showing that despite the pullback, it's still WAY up.
www.zerohedge.com
At what price would you sell your ticket, on the last life boat of the Titanic. Meaning at what price would you sell your Silver for worthless paper promises?
Some good commentary on what's happening by Mike from Rethinking the Dollar.
What I hate is that despite record highs and such a huge rise, the media isn't covering it much. When it's hitting records the media and influencers are pushing stories about crypto and as soon as the metals show a normal pull back suddenly the, "bull run is over" nonsense articles start coming out.
If it drops like crazy into the 30s or even 20s I will just buy more physical. I've been thinking about getting some goldbacks too.
Here's a good analysis by Arcadia Economics. In his opinion the constant massive increases and slams are geopolitical, he also explains very well the price suppression model they've always used.
Good article showing that despite the pullback, it's still WAY up.
Precious Metals Pummeled As Silver 'Tightness' Eases, India Demand Slows<!-- --> | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
At what price would you sell your ticket, on the last life boat of the Titanic. Meaning at what price would you sell your Silver for worthless paper promises?
Some good commentary on what's happening by Mike from Rethinking the Dollar.
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Unknown?
Member
I was wrong... They STILL have control. 38 trillion in unpayable debt, metals shortages, huge shorts, yet price is getting slammed. Yeah gold is overvalued, riiighhttt....
Another good one from Arcadia Economics
DownLikeBCPowder
Member
Hard to say - I think that's definitely a question on everyone's mind in terms of Silver and Gold - is this the top and down we go, or are we entering a new paradigm of price? I firmly believe the latter - not that we couldn't see prices lower than both of them are presently, but I don't expect substantial declines from here. I thought this would happen "last time" in the 2000s, but dedollarization was something more fringe, now it's literally happening and divestment is transpiring while central banks accumulate purposefully. I think headwinds are in favor of precious metals. I don't think you can go wrong purchasing either one, so long as you aren't trying to profit short term. The worst thing that can happen is your purchasing power is preserved over time.
Big-G
Member
I think it could dip down further to 3800, just as a dumb random guess, but I don't see it going much further down than that. I was surprised how bad Gold had flatlined for like 5 years, so I kind of see this rally as a price correction for all the years of stagnation, plus I don't see other countries selling off Gold in mass in the short term from thier central banks.
Unknown?
Member
It was stuck between $3100-3300 for half a year before it jumped up again. We may be seeing that again but in the 4k range. Consolidation is good.
Unknown?
Member
Tbh I have no idea wtf is going on now. It's being hammered again but there is ABSOLUTELY NO reason for this.
It's particularly infuriating considering silver barely, and I mean barely, got over nominal all time highs. It's nowhere near its inflation adjusted high, there's still a huge shortage of metal, more countries are starting to store it strategically, AND compound inflation is still raging(despite what mainstream media will tell you).
I still maintain anyone saying it's a bubble doesn't understand currency and metals but I was wrong about them losing control. Last year, in November, it finally got past $30 and kept testing that floor, then flirted with $35, but the election happened and it got shoved down to the high $26 range which defied that hard floor of $30.
Nevertheless, it was getting pricey, and this will make it easier to buy more.
It's particularly infuriating considering silver barely, and I mean barely, got over nominal all time highs. It's nowhere near its inflation adjusted high, there's still a huge shortage of metal, more countries are starting to store it strategically, AND compound inflation is still raging(despite what mainstream media will tell you).
I still maintain anyone saying it's a bubble doesn't understand currency and metals but I was wrong about them losing control. Last year, in November, it finally got past $30 and kept testing that floor, then flirted with $35, but the election happened and it got shoved down to the high $26 range which defied that hard floor of $30.
Nevertheless, it was getting pricey, and this will make it easier to buy more.
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Unknown?
Member
Well Rethinking the Dollar has an interesting take, we're being played and I agree. Somehow Silver is the only thing on the planet that is out of stock everywhere with backorders a mile long and somehow dropping in price .
Well paper got smashed but not physical. Go buy just a round and you're still paying over $50. Yesterday I was looking at SD Bullion and rounds were mostly $52. Premiums on rounds are insane, usually rounds are very close to spot.
There may be some fools out there selling physical but almost no one is selling physical, in fact buying is still at record highs!
A good analysis from Mario.
Also just got a fantastic book written by Gary North called, "Honest Money: The Biblical Blueprint for Money and Banking." Worth a read if you ask me, especially if you're a person of faith.
Well paper got smashed but not physical. Go buy just a round and you're still paying over $50. Yesterday I was looking at SD Bullion and rounds were mostly $52. Premiums on rounds are insane, usually rounds are very close to spot.
There may be some fools out there selling physical but almost no one is selling physical, in fact buying is still at record highs!
A good analysis from Mario.
Also just got a fantastic book written by Gary North called, "Honest Money: The Biblical Blueprint for Money and Banking." Worth a read if you ask me, especially if you're a person of faith.
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Unknown?
Member
A good document by wikileaks from 1974 when gold was being legalized again. They wanted the futures market set up to keep people away from physical. They don't want you in the market and the recent downward correction was because gold was making too many headlines.
Unknown?
Member
Freedom Dies When Money Lies: Why Sound Money is the Foundation of a Free Society
Very good article/video combo.
Freedom Dies When Money Lies: Why Sound Money is the Foundation of a Free Society
Freedom Dies When Money Lies: Why Sound Money is the Foundation of a Free Society
www.themorganreport.com