The GOLD scream room

Discussion of the Gold portion of the Permanent Portfolio

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Ad Orientem
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Re: The GOLD scream room

Post by Ad Orientem » Mon Sep 21, 2020 10:33 am

Tough day across the board with everybody piling into cash. Gold and silver have both broken below support levels at $1900/oz and $25/oz. With much of Europe inching towards another lockdown, the major correction on Wall Street may not end soon.
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Re: The GOLD scream room

Post by pmward » Mon Sep 21, 2020 12:47 pm

Rising dollar is definitely putting the breaks on metals. I'm suspect that it will become a "major correction on Wall Street" though, as the scenario you listed should actually lead to a rally in U.S. assets (ie USD, stocks, and bonds) at the expense of the Euro, international assets, and metals. Of course, this could all just be a consolidation pullback for the Euro and metals, the USD was pretty oversold on the short term, and the Euro and metals have both been overbought in turn. A pullback in that trend could be a dip worth buying, especially if congress can finally agree on a fiscal stimulus package.
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Re: The GOLD scream room

Post by Ad Orientem » Thu Nov 05, 2020 2:47 pm

Thought I'd blow away some of the cobwebs from this unusually quiet thread. I note a nice bump in metals as people are anticipating more stimulus/debt/inflation with the likely change in administration. Also stocks and even bonds are all doing nicely today.
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Re: The GOLD scream room

Post by ppnewbie » Sun Nov 08, 2020 1:00 am

I’m wondering if I should focus acquiring silver. It’s still quite undervalued compared to gold.
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Re: The GOLD scream room

Post by mathjak107 » Sun Nov 08, 2020 3:32 am

in a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .
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Re: The GOLD scream room

Post by Ad Orientem » Sun Nov 08, 2020 10:21 am

mathjak107 wrote:
Sun Nov 08, 2020 3:32 am
in a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .

Agreed. Silver is strictly VP stuff. I do have a small position that I acquired when when silver was trading under $15 but I don't consider that as part of the PP. And as a speculation, I would not be adding to that position right now.
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Re: The GOLD scream room

Post by mathjak107 » Mon Nov 09, 2020 7:43 am

not a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
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Re: The GOLD scream room

Post by pmward » Mon Nov 09, 2020 7:49 am

mathjak107 wrote:
Mon Nov 09, 2020 7:43 am
not a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
I had a little cash I needed to put into gold, and this looks like as good of a morning as any to deploy that cash.
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Re: The GOLD scream room

Post by Cortopassi » Mon Nov 09, 2020 8:00 am

Well, this is where stocks take up the slack!
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Re: The GOLD scream room

Post by mathjak107 » Mon Nov 09, 2020 8:14 am

exactly .

just a shame it isn't all gravy on a day like today , we have so few days like this .
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Re: The GOLD scream room

Post by Cortopassi » Mon Nov 09, 2020 8:34 am

I can only imagine that it is a slight delay for gold. Not like Biden is going to turn off the money spigot.
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Re: The GOLD scream room

Post by mathjak107 » Mon Nov 09, 2020 10:30 am

i agree . i added a bit today to bring it back up the 10k it fell .
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