Gold and Silver

[chm270]

Very interesting that gold and silver are exploding compared to the last long term trend, and no one is saying much about it.
Gold today, (4/4/24) is $2338.31 an ounce. Usually in the 18-1950 range.
Silver is $27.60. it's been struggling to maintain $23 for a while now.

What say you?

 

[foolslife]

Boy I just don't know. My step father was a gold fanatic in the 70's. he would be rolling in his grave.
I have stayed conservative with my 401K which has gone nowhere in the past several years.
I am allowed to move stuff around myself but I have let them take care of investments in a conservative manner.

I am thinking about taking back the reins and move a portion into Gold and more into stocks.

 

[Mobuck]

Buy all you want but using the 'valuable metals' during a crisis is going to be problematic.
I'll use my resources for other means of security.

 

[hittman]

What say you?

Sell!

 

[Armybrat]

My wife just wears hers…

 

[Boxhead]

Always have had zero interest though came close to working for Newmont some years ago when gold was booming. I'll stick with equities as I have since 1985.

 

[ole442]

Gold and silver will always hold value better than paper and electronically created money! Gold, silver and especially lead are a good hedge against a societal/economic collapse! JMHO, YMMV!

 

[JackBull]

Boy I just don't know. My step father was a gold fanatic in the 70's. he would be rolling in his grave.
I have stayed conservative with my 401K which has gone nowhere in the past several years.
I am allowed to move stuff around myself but I have let them take care of investments in a conservative manner.

I am thinking about taking back the reins and move a portion into Gold and more into stocks.

bogleheads.org

Free information on saving for retirement. They will not ask you for money, you do not have to join to be able to read ALL comments plus a ton of free resources. I get nothing out of this other than helping someone.

 

[JackBull]

Very interesting that gold and silver are exploding compared to the last long term trend, and no one is saying much about it.
Gold today, (4/4/24) is $2338.31 an ounce. Usually in the 18-1950 range.
Silver is $27.60. it's been struggling to maintain $23 for a while now.

What say you?

Gold Price vs Stock Market - 100 Year Chart

This chart compares the historical percentage return for the Dow Jones Industrial Average against the return for gold prices over the last 100 years.

www.macrotrends.net

The S&P as been a far better investment. BUT with Pedo Joe in charge who knows.

 

[jav]

Yea before we bought our new car a couple days ago we thought what are we saving this for the kids they are fine they will get our houses and what left of our money when we are gone so we sold 5000. Worth of our gold and silver did pretty good . We put it in the new car and extra money and paid cash for a 2024 jeep grand Cherokee

 

[Kevin]

Yea before we bought our new car a couple days ago we thought what are we saving this for the kids they are fine they will get our houses and what left of our money when we are gone so we sold 5000. Worth of our gold and silver did pretty good . We put it in the new car and extra money and paid cash for a 2024 jeep grand Cherokee

How did you sell the gold? And did you have to pay a commission?

Congrats on the new Jeep! That's pretty awesome!!

 

[jav]

How did you sell the gold? And did you have to pay a commission?

Congrats on the new Jeep! That's pretty awesome!!

Thank you yea we sold it at a local jewelry coin shop . I sure they get a commission because we did negotiate on the price

 

[Joe Chartreuse]

I've been at this for quite awhile. I buy decent quantities, but in small denomination for easier use. First, part of the problem is the vendors and the commodity players. The vendors upped their premiums from a few percent to 15-20% and more. Worse, if you look to buy privately on line you will see folks actually selling (not just asking) at near double spot.

The gold market has been over manipulated and folks have caught on. There is about 3 times more gold bought and sold than has been mined. Now everyone wants to have physical possession, hence the new premiums. Also, gold, traditionally an inflation hedge has been artificially held down to the point where it is way BEHIND inflation.

Now there is another biggie coming up. The U.S. threats to weaponize the dollar have made other countries nervous to the point where they are quietly pulling their money- previously kept here for safekeeping- out of the U.S. and converting it away from the dollar. If we liquidate billions in frozen Russian assets and sent it to Ukraine, other countries are worried that similar could happen to them. There is also a strong possibility that BRIC may usurp the dollar as the prime World Reserve Currency for just this reason.

The bottom line is that people are worried that the dollar's value may crash, since it's only backed by full faith in our government- which is starting to erode in regard to other countries. They want a backup currency- at least to get through transition, After that, who knows- barter? However, eventually we would have currency of some sort again for the same reason it was invented in the first place. It's easier to carry and use than a sack of flour. Centralized goods markets would return, and accept currency. How long would that take? No idea. The point is that gold and silver would probably be used in the first months of a dollar crash.

Oh yes. Silver. When working with silver one has to watch the gold to silver value ratio, and right now silver has a LOT of catching up to do, and I think we'll be seeing a very large jump in the next year or two no matter what. So much so that some of the big silver mining companies are actually holding on to their product instead of putting it out there.

 

[Star43]

Very interesting that gold and silver are exploding compared to the last long term trend, and no one is saying much about it.
Gold today, (4/4/24) is $2338.31 an ounce. Usually in the 18-1950 range.
Silver is $27.60. it's been struggling to maintain $23 for a while now.

What say you?

I'm a Silver guy. Can't afford gold. Even if I could I would still invest in silver as it is used in a lot of manufacturing to this day and will always be needed. Silver is true "money" and to me it is downright beautiful !!!

 

[Star43]

I've been at this for quite awhile. I buy decent quantities, but in small denomination for easier use. First, part of the problem is the vendors and the commodity players. The vendors upped their premiums from a few percent to 15-20% and more. Worse, if you look to buy privately on line you will see folks actually selling (not just asking) at near double spot.

The gold market has been over manipulated and folks have caught on. There is about 3 times more gold bought and sold than has been mined. Now everyone wants to have physical possession, hence the new premiums. Also, gold, traditionally an inflation hedge has been artificially held down to the point where it is way BEHIND inflation.

Now there is another biggie coming up. The U.S. threats to weaponize the dollar has made other countries nervous to the point where they are quietly pulling their money- previously kept here for safekeeping- out of the U.S. If we liquidate billions in frozen Russian assets and sent it to Ukraine, other countries are worried that similar could happen to them. There is also a strong possibility that BRIC may usurp the dollar as the prime World Reserve Currency for just this reason.

The bottom line is that people are worried that the dollar's value may crash, since it's only backed by full faith in our government- which is starting to erode in regard to oiher countries. They want a backup currency- at least to get through transition, After that, who knows- barter? However, eventually we would have currency of some sort again for the same reason it was invented in the first place. It's easier to carry and use than a sack of flour. Centralized goods markets would return, and accept currency. How long would that take? No idea. The point is that gold and silver would probably be used in the first months of a dollar crash.

Oh yes. Silver. When working with silver one has to watch the gold to silver value ratio, and right now silver has a LOT of catching up to do, and I think we'll be seeing a very large jump in the next year or two no matter what. So much so that some of the big silver mining companies are actually holding on to their product instead of putting it out there.

I agree the silver to gold ratio is way out of line. Because silver is used a lot in manufacturing, these manufacturing owners want to keep the price of silver as low as possible so they make more profit obviously in their manufactured goods. I have been told this a few times and it sure makes a lot of sense to me.

 

[Star43]

Buy all you want but using the 'valuable metals' during a crisis is going to be problematic.
I'll use my resources for other means of security.

Actually when and if there would be a time of crisis, and the dollar is crashed and worthless, vendors of shopkeepers are going to want your silver in my opinion. Certainly not any paper. Gold would Not be good in this scenario, but small amounts of say good old constitutional silver, US coins minted from 1964 and earlier would be the best way to go. I have heard of a couple of places in LA where one can go to buy groceries or other needs and they will take your silver. They use the spot price of the day to calculate the cost of the goods you buy. It is already being done now. If there was a crisis......silver in small increments would be the way to go I would think.

 

[Joe Chartreuse]

I agree the silver to gold ratio is way out of line. Because silver is used a lot in manufacturing, these manufacturing owners want to keep the price of silver as low as possible so they make more profit obviously in their manufactured goods. I have been told this a few times and it sure makes a lot of sense to me.

Well, again we have market manipulation. Platinum used to be twice as costly as gold, it's 50 times rarer, and has a LOT more uses than gold. Instead it's now HALF the price of gold even having way more uses. Why? It's just not popular with investors. That's it. Everything that you say about silver is true, but it's the popularity of this beautiful metal over useage that drives the market. Keep in mind that silver, as well as gold and even copper, are the three traditional currency metals and have been going back literally eons. That's why it's popular. A safe currency. Copper is all the way up to $4.24 a pound. Though the cheapest and bulkiest to carry for value, it's worth watching as well. I save pre-1980 pennies these days just in case.

 

[Joe Chartreuse]

Actually when and if there would be a time of crisis, and the dollar is crashed and worthless, vendors of shopkeepers are going to want your silver in my opinion. Certainly not any paper. Gold would Not be good in this scenario, but small amounts of say good old constitutional silver, US coins minted from 1964 and earlier would be the best way to go. I have heard of a couple of places in LA where one can go to buy groceries or other needs and they will take your silver. They use the spot price of the day to calculate the cost of the goods you buy. It is already being done now. If there was a crisis......silver in small increments would be the way to go I would think.

Gold would be ok as well, but only if you have small denominations 1/2 / 1 / 2/ 5 gram bars. Nowadays known as prepper gold. Preppers, once a tiny fringe group, have grown to millions of people ( can't imagine why ;-) ) and are also driving the markets up with their preference for possession of the physical metals.

 

[Star43]

Gold would be ok as well, but only if you have small denominations 1/2 / 1 / 2/ 5 gram bars. Nowadays known as prepper gold. Preppers, once a tiny fringe group, have grown to millions of people ( can't imagine why ;-) ) and are also driving the markets up with

Well, again we have market manipulation. Platinum used to be twice as costly as gold, it's 50 times rarer, and has a LOT more uses than gold. Instead it's now HALF the price of gold even having way more uses. Why? It's just not popular with investors. That's it. Everything that you say about silver is true, but it's the popularity of this beautiful metal over useage that drives the market. Keep in mind that silver, as well as gold and even copper, are the three traditional currency metals and have been going back literally eons. That's why it's popular. a safe currency. Copper is all the way up to $4.24 a pound. Though the cheapest and bulkiest to carry for value, it's worth watching as well. I save pre-1980 pennies these days just in case.

Yes, the 3 metals you mention are all good. Yep, copper is $4 now, but it is too heavy and takes up to much room to store.....I think silver is the way to go for whatever need one has, and the main thing to me, is buy it at the lowest cost factor. You don't want to pay high premiums for the American Eagles, and the Maple Leafs, etc, unless you are a collector or coin enthusiast. To me, stick with the 90% constitutional silver.

 

[jimbo1096]

I can't afford to buy gold so I just buy guns instead. Also buy silver because it's pretty and it's something I can play with. Plus, it's kind of satisfying to carry around a bag of something that's heavy besides lead.