The GOLD scream room

Discussion of the Gold portion of the Permanent Portfolio

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Cortopassi
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Re: The GOLD scream room

Post by Cortopassi » Wed Aug 12, 2020 9:40 pm

pugchief wrote:
Wed Aug 12, 2020 2:41 pm
Okay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
Bird in the hand...tomorrow.
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Re: The GOLD scream room

Post by pugchief » Thu Aug 13, 2020 6:39 am

Cortopassi wrote:
Wed Aug 12, 2020 9:40 pm
pugchief wrote:
Wed Aug 12, 2020 2:41 pm
Okay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
Bird in the hand...tomorrow.
And that is what I told them earlier this morning. Since gold futures are up. 8)
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Cortopassi
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Re: The GOLD scream room

Post by Cortopassi » Thu Aug 13, 2020 8:39 am

pugchief wrote:
Thu Aug 13, 2020 6:39 am
Cortopassi wrote:
Wed Aug 12, 2020 9:40 pm
pugchief wrote:
Wed Aug 12, 2020 2:41 pm
Okay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
Bird in the hand...tomorrow.
And that is what I told them earlier this morning. Since gold futures are up. 8)
You don't have to answer, but after a career (??) of collecting scraps, how many ounces are we talking? Just curious.
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Re: The GOLD scream room

Post by pugchief » Thu Aug 13, 2020 11:00 am

Cortopassi wrote:
Thu Aug 13, 2020 8:39 am
pugchief wrote:
Thu Aug 13, 2020 6:39 am
Cortopassi wrote:
Wed Aug 12, 2020 9:40 pm
pugchief wrote:
Wed Aug 12, 2020 2:41 pm
Okay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
Bird in the hand...tomorrow.
And that is what I told them earlier this morning. Since gold futures are up. 8)
You don't have to answer, but after a career (??) of collecting scraps, how many ounces are we talking? Just curious.
I haven't gotten the report back yet, but I'll let you know. It felt very heavy (2 lbs?) when i put it in the box, but the bulk of that is garbage that has no value. I have been collecting this particular pile for around 10 years.
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Re: The GOLD scream room

Post by Ugly_Bird » Thu Aug 20, 2020 12:48 pm

Libertarian666
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Re: The GOLD scream room

Post by Libertarian666 » Thu Aug 20, 2020 1:37 pm

Ugly_Bird wrote:
Thu Aug 20, 2020 12:48 pm
Hmmmm...

https://www.marketwatch.com/story/gold- ... yptr=yahoo
So they have two whole examples of when this theory would have predicted the gold price would go down, and that makes it a fact?
LOL.
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Re: The GOLD scream room

Post by mathjak107 » Fri Aug 21, 2020 7:13 am

for what it's worth , an article today on gold from seeking alpha

https://seekingalpha.com/article/437000 ... ent=link-0
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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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Re: The GOLD scream room

Post by dw260307 » Wed Nov 25, 2020 2:01 am

i would like to know gold has a chance to cross 1900 this year or not ?
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Re: The GOLD scream room

Post by dw260307 » Wed Nov 25, 2020 2:07 am

Cortopassi wrote:
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.
is there any chance to make uptrend again and gold will touch 1900 again. even after Biden oath. I read news from this site that BTC has now more potential than gold bcz most of the investor are investing there money on digital currency so i want to know is there any chance to hit gold price again 1900.
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Re: The GOLD scream room

Post by Ad Orientem » Wed Nov 25, 2020 11:49 am

dw260307 wrote:
Wed Nov 25, 2020 2:01 am
i would like to know gold has a chance to cross 1900 this year or not ?

The future is unpredictable. That said a lot of the expensive suits on Wall Street remain bullish on gold. And FTR I tend to agree. I certainly like gold more than bonds. Citigroup recently predicted $2500/oz for 2021. I'm not a fan of these price targets which strike me as the financial equivalent to tarot cards, but in general I do see a case for higher gold.

https://www.cnbc.com/2020/11/24/gold-to ... -2021.html


[P.S. Bitcoin is highly speculative and is not a substitute for gold in the PP. I don't care for it but some people do. Just understand that it is a gamble and as such should not be a part of a permanent portfolio.]
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Re: The GOLD scream room

Post by pmward » Wed Nov 25, 2020 12:07 pm

Ad Orientem wrote:
Wed Nov 25, 2020 11:49 am
dw260307 wrote:
Wed Nov 25, 2020 2:01 am
i would like to know gold has a chance to cross 1900 this year or not ?

The future is unpredictable. That said a lot of the expensive suits on Wall Street remain bullish on gold. And FTR I tend to agree. I certainly like gold more than bonds. Citigroup recently predicted $2500/oz for 2021. I'm not a fan of these price targets which strike me as the financial equivalent to tarot cards, but in general I do see a case for higher gold.

https://www.cnbc.com/2020/11/24/gold-to ... -2021.html


[P.S. Bitcoin is highly speculative and is not a substitute for gold in the PP. I don't care for it but some people do. Just understand that it is a gamble and as such should not be a part of a permanent portfolio.]
Remember all the way back in July 2020, when everybody was talking about how gold was THE asset and Bitcoin was old news? How quickly that narrative reversed, huh? I think gold will be fine, especially if you look back historically at the length of a typical gold bull market. We are well within the norm of a pullback/consolidation before another crazy move up.

I don't know whether Bitcoin will stay a relevant asset or not. I can make a logical argument for and against. I don't see anything wrong with a VP moonshot speculative kind of bet on Bitcoin. But I definitely wouldn't say it was anywhere close to proven enough at this point for discussion about inclusion in the PP. I also would not be buying Bitcoin today.
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Re: The GOLD scream room

Post by Ad Orientem » Wed Nov 25, 2020 12:11 pm

Bitcoin in the PP? I'm going to need a more established track record showing it's long term performance as an accepted store of value. Get back to me in 6000 years or so and we can talk about it.
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Re: The GOLD scream room

Post by mathjak107 » Thu Nov 26, 2020 4:31 pm

Bitcoin was down 1700 bucks today
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