The GOLD scream room

Discussion of the Gold portion of the Permanent Portfolio

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Libertarian666
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Re: The GOLD scream room

Post by Libertarian666 » Thu Sep 05, 2019 6:36 am

boglerdude wrote:
Thu Sep 05, 2019 3:59 am
"The growing demand for gold as a conductive metal used in phones and other electronic products has helped spawn a deadly illegal trade that’s harder to track than other black-market commodities like blood diamonds or drugs."

https://www.nytimes.com/2019/08/30/the- ... ombia.html
If something is illegal, then criminals are the ones who will supply it.
In other news, water is wet.
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Re: The GOLD scream room

Post by Cortopassi » Thu Sep 05, 2019 8:17 am

Once again, all is right with the world, US and China are going to meet...Groundhog Day.
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Re: The GOLD scream room

Post by dualstow » Thu Sep 05, 2019 9:15 am

Cortopassi wrote:
Thu Sep 05, 2019 8:17 am
Once again, all is right with the world, US and China are going to meet...Groundhog Day.
Yep, except instead of the same day over and over again, we're alternating between Groundhog Day and....let's call the other one Sweathog Day.
Feels like the end of the everything rally.
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Re: The GOLD scream room

Post by dualstow » Thu Sep 05, 2019 9:29 am

boglerdude wrote:
Thu Sep 05, 2019 3:59 am
"The growing demand for gold as a conductive metal used in phones and other electronic products has helped spawn a deadly illegal trade that’s harder to track than other black-market commodities like blood diamonds or drugs."

https://www.nytimes.com/2019/08/30/the- ... ombia.html
Very interesting!
Libertarian666 wrote:
Thu Sep 05, 2019 6:36 am
If something is illegal, then criminals are the ones who will supply it.
In other news, water is wet.
I didn't understand your response to this one tech. In fact, reading up from the bottom of this page, I thought it was about drugs and not gold. Isn't it not a case of something being banned outright, but that there are illegal, unlicensed operations running alongside legal ones? And furthermore, it's happening in an environment where criminals are more powerful than a stable government.

When something becomes very valuable, be it metal, oil, refined coca leaves or a rare and purportedly healthful fungus growing in Asia, criminals are going to get involved, parallel to legal suppliers which may or may not exist.
Feels like the end of the everything rally.
In Britain they have made burglary a safe occupation. It's like OSHA for burglars.
- Thomas Sowell on gun control
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Re: The GOLD scream room

Post by ochotona » Thu Sep 05, 2019 9:40 am

Cortopassi wrote:
Thu Sep 05, 2019 8:17 am
Once again, all is right with the world, US and China are going to meet...Groundhog Day.
Gold and long Treasuries will be under assault for a while...
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Re: The GOLD scream room

Post by Libertarian666 » Thu Sep 05, 2019 10:34 am

dualstow wrote:
Thu Sep 05, 2019 9:29 am
boglerdude wrote:
Thu Sep 05, 2019 3:59 am
"The growing demand for gold as a conductive metal used in phones and other electronic products has helped spawn a deadly illegal trade that’s harder to track than other black-market commodities like blood diamonds or drugs."

https://www.nytimes.com/2019/08/30/the- ... ombia.html
Very interesting!
Libertarian666 wrote:
Thu Sep 05, 2019 6:36 am
If something is illegal, then criminals are the ones who will supply it.
In other news, water is wet.
I didn't understand your response to this one tech. In fact, reading up from the bottom of this page, I thought it was about drugs and not gold. Isn't it not a case of something being banned outright, but that there are illegal, unlicensed operations running alongside legal ones? And furthermore, it's happening in an environment where criminals are more powerful than a stable government.

When something becomes very valuable, be it metal, oil, refined coca leaves or a rare and purportedly healthful fungus growing in Asia, criminals are going to get involved, parallel to legal suppliers which may or may not exist.
My response was to the implication that gold is somehow tainted by the fact that criminals are apparently involved in its extraction in Columbia. This is of course an absurd proposition.
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Re: The GOLD scream room

Post by pmward » Thu Sep 05, 2019 11:20 am

ochotona wrote:
Thu Sep 05, 2019 9:40 am
Cortopassi wrote:
Thu Sep 05, 2019 8:17 am
Once again, all is right with the world, US and China are going to meet...Groundhog Day.
Gold and long Treasuries will be under assault for a while...
"Assault" might be a bit extreme of a term. Both assets are due for a consolidation. This doesn't mean the long term uptrend is in danger for either. As we speak, even though both are having an ugly day, there is still 0 technical damage done to either chart. I don't see any need to provoke fear about both assets right now.
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Re: The GOLD scream room

Post by boglerdude » Thu Sep 05, 2019 11:16 pm

I didnt read the article, but increasing non-monetary use of gold might screw with the PP philosophy?
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Re: The GOLD scream room

Post by ochotona » Fri Sep 06, 2019 4:55 am

I keep having purely good luck. Sold my Newmont Goldcorp and SIVR out of my HSA a few days ago, because am moving the HSA, but now prices are down, so I could rebuy at lower levels. Please don't recover before the cash moves over to Fidelity...
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Re: The GOLD scream room

Post by Cortopassi » Fri Sep 06, 2019 8:10 am

ochotona wrote:
Fri Sep 06, 2019 4:55 am
I keep having purely good luck. Sold my Newmont Goldcorp and SIVR out of my HSA a few days ago, because am moving the HSA, but now prices are down, so I could rebuy at lower levels. Please don't recover before the cash moves over to Fidelity...
*Could* or will? This was always my dilemma.
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Re: The GOLD scream room

Post by Ad Orientem » Sun Sep 08, 2019 10:55 pm

‘Gold is the way to go’ as interest rates fall, says Mark Mobius
Mark Mobius, the founding partner of Mobius Capital Partners, recommends that investors hold 10% of their portfolios in physical gold, and invest the rest in dividend yielding equities.
In the first half of this year, central banks bought 374 metric tons of gold, according to the World Gold Council. That was the largest net increase for the first half of the year since at least 2000.
China’s central has been adding to its gold reserves for eight straight months since December, scooping up another 10 metric tons of the yellow metal in July, according to data from the People’s Bank of China.

From here...
https://www.cnbc.com/2019/09/09/mark-mo ... rates.html
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Re: The GOLD scream room

Post by Smith1776 » Mon Sep 09, 2019 1:19 am

A3B56EEF-9A4C-46C5-9A22-3DDE7B7388B0.jpeg
A3B56EEF-9A4C-46C5-9A22-3DDE7B7388B0.jpeg (39.64 KiB) Viewed 5888 times
GoldSmith PP
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"We had a dream of what might be possible five years from now." — Mark Cerny, Lead PS5 System Architect
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Re: The GOLD scream room

Post by Ad Orientem » Mon Sep 09, 2019 11:53 pm

Gold has dipped below $1500 oz and silver has fallen below $18 oz. in overnight trading.
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Re: The GOLD scream room

Post by Cortopassi » Thu Sep 12, 2019 9:00 am

Gold is quite volatile!
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Re: The GOLD scream room

Post by pugchief » Thu Sep 12, 2019 9:03 am

Cortopassi wrote:
Thu Sep 12, 2019 9:00 am
Gold is quite volatile!
And in other news, the sun rises in the east! ;D
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Re: The GOLD scream room

Post by Cortopassi » Thu Sep 12, 2019 11:49 am

Well, that didn't last long.
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Re: The GOLD scream room

Post by Ad Orientem » Sun Sep 15, 2019 4:39 pm

Anyone buying physical metals over the weekend in response to recent events in the Middle East? I came close at least three times but held back.
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Re: The GOLD scream room

Post by dualstow » Sun Sep 15, 2019 5:27 pm

Ad Orientem wrote:
Sun Sep 15, 2019 4:39 pm
Anyone buying physical metals over the weekend in response to recent events in the Middle East? I came close at least three times but held back.
I would buy at 1300/oz. That has nothing to do with analysis (although you all know I’m a huge fan), but it would be a good spot for lowering my avg cost.

Hoping to be rid of my BP shares on Monday, but it probably won’t happen. KSA seems to have everything under control.
Feels like the end of the everything rally.
In Britain they have made burglary a safe occupation. It's like OSHA for burglars.
- Thomas Sowell on gun control
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Re: The GOLD scream room

Post by Cortopassi » Mon Sep 16, 2019 7:58 am

dualstow wrote:
Sun Sep 15, 2019 5:27 pm
Ad Orientem wrote:
Sun Sep 15, 2019 4:39 pm
Anyone buying physical metals over the weekend in response to recent events in the Middle East? I came close at least three times but held back.
I would buy at 1300/oz. That has nothing to do with analysis (although you all know I’m a huge fan), but it would be a good spot for lowering my avg cost.

Hoping to be rid of my BP shares on Monday, but it probably won’t happen. KSA seems to have everything under control.
If I (we?) have learned anything with gold over the past few years is that it reacts quickly to these types of world events, and reacts just as quickly back down. Not looking to day trade here! If gold hasn't hit bands or it's not my yearly rebalance, I am not trading. But that's me.
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Re: The GOLD scream room

Post by ochotona » Sun Sep 22, 2019 4:51 pm

Newmont plans for success at a $900 gold price.

https://youtu.be/d7wTjo4avCE
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Re: The GOLD scream room

Post by boglerdude » Mon Sep 23, 2019 2:17 am

Wouldnt gold work better as money if there were no mining? Its supposed to be a stable benchmark against which to price everything else
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Re: The GOLD scream room

Post by dualstow » Mon Sep 23, 2019 7:19 am

ochotona wrote:
Sun Sep 22, 2019 4:51 pm
Newmont plans for success at a $900 gold price.

https://youtu.be/d7wTjo4avCE
The other day I read
Many companies, including the world’s largest gold miner, Newmont Goldcorp Corp., say they will only approve new projects if they can make money with gold at $1,200, about 20% below where the metal currently trades.
https://www.wsj.com/articles/as-gold-pr ... 1569144601
Feels like the end of the everything rally.
In Britain they have made burglary a safe occupation. It's like OSHA for burglars.
- Thomas Sowell on gun control
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Re: The GOLD scream room

Post by Libertarian666 » Mon Sep 23, 2019 9:04 am

boglerdude wrote:
Mon Sep 23, 2019 2:17 am
Wouldnt gold work better as money if there were no mining? Its supposed to be a stable benchmark against which to price everything else
Maybe, but mining output adds only a few percent of total stocks every year, and that is very hard to increase.
Fiat money, on the other hand, can be increased in amount with almost no effort, which makes it very poor money.
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Re: The GOLD scream room

Post by ochotona » Wed Oct 02, 2019 10:01 am

ochotona wrote:
Wed Oct 02, 2019 5:45 am
Firms offering no commissions on trading:

Charles Schwab (announced 10/1/19)
TD Ameritrade (announced 10/2/19, effective 10/3/19)
Interactive Brokers (the IBKR-Lite tier)

Now you can buy whichever gold ETF you want, without concerns about fees. Probably lots of people will start buying AAAU now.
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Re: The GOLD scream room

Post by dualstow » Thu Nov 07, 2019 12:47 pm

holy volatility, Batman
Feels like the end of the everything rally.
In Britain they have made burglary a safe occupation. It's like OSHA for burglars.
- Thomas Sowell on gun control
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