No way. Much better to buy high and sell low. After all, that's what most people do.Xan wrote: ↑Wed Aug 15, 2018 2:15 pmWith everyone thinking that, doesn't that make it a good time to buy?buddtholomew wrote: ↑Wed Aug 15, 2018 1:18 pmI wouldn’t even bother with Gold unless we see inflation. Not going to see much inflation with tariffs, a strong USD and rising rates.
The GOLD scream room
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Re: The GOLD scream room
- buddtholomew
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Re: The GOLD scream room
I’ve been hearing the same story since 1300..stuper1 wrote: ↑Wed Aug 15, 2018 2:34 pmNo way. Much better to buy high and sell low. After all, that's what most people do.Xan wrote: ↑Wed Aug 15, 2018 2:15 pmWith everyone thinking that, doesn't that make it a good time to buy?buddtholomew wrote: ↑Wed Aug 15, 2018 1:18 pmI wouldn’t even bother with Gold unless we see inflation. Not going to see much inflation with tariffs, a strong USD and rising rates.
Gets old after a while don’t you think?
You guys buy and tell me how it goes.
I’m holding.
Re: The GOLD scream room
I'm sorry if my question sounds dumb... can someone please explain what the heck is going on with gold? Multiple currencies are falling, equities are down, dollar is up, but why is gold dropping? Is gold still working as it's supposed to in HBPP?
"Let every man divide his money into three parts, and invest a third in land, a third in business, and a third let him keep in reserve."
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Re: The GOLD scream room
Everyone is dumping foreign currency and running to the dollar which is spiking upward, which means the price of gold in dollars falls. Dollars buy more gold because they are stronger. A good question!
Re: The GOLD scream room
Radomski has been predicting $900 gold just around the corner for years... this time it might happen, and his extreme gold : silver is 100:1, not 80:1
Gold $890, and silver $8.90.
https://www.sunshineprofits.com/gold-si ... investors/
Gold $890, and silver $8.90.
https://www.sunshineprofits.com/gold-si ... investors/
Re: The GOLD scream room
So with gold stagnant and bonds falling how has the overall PP been performing this year?
- Cortopassi
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Re: The GOLD scream room
My allocation is down 2.3%
I whine about it, but I suppose that is nothing when you really think about it
I whine about it, but I suppose that is nothing when you really think about it
Re: The GOLD scream room
Maybe we should run a periodic poll concerning when we are inclined to make a purchase. But now I can't see polling features. I thought we had those. Does anyone know how to do this?
Last edited by ochotona on Wed Aug 15, 2018 8:54 pm, edited 1 time in total.
Re: The GOLD scream room
Isn't inflation running close to 3%, making the PP's real performance YTD down about 5%?Cortopassi wrote: ↑Wed Aug 15, 2018 8:41 pmMy allocation is down 2.3%
I whine about it, but I suppose that is nothing when you really think about it
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Re: The GOLD scream room
Even if it is, doesn't change what I'm going to do with my portfolio, though.Don wrote: ↑Wed Aug 15, 2018 8:53 pmIsn't inflation running close to 3%, making the PP's real performance YTD down about 5%?Cortopassi wrote: ↑Wed Aug 15, 2018 8:41 pmMy allocation is down 2.3%
I whine about it, but I suppose that is nothing when you really think about it
The most I would ever consider doing is when gold and silver are beaten down so badly it seems like they'll never come back, I might buy a couple LEAPS in a VP.
The good thing is, with the PP, I would have already bough these calls, and already be severely underwater. The PP has taught patience.
- dualstow
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Re: The GOLD scream room
Boy am I the wrong person to follow, if history is any indication. I bought a lot of gold at 1600, though in my defense, I was still working my way up to that initial 25%. Had I gone all-in immediately, it would’ve been cheaper.
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- buddtholomew
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Re: The GOLD scream room
All metals rallying except...wait for it...
Au
What did you expect?
My PP is at an all time high after introducing SCV...I’ll hold Gold since backtesting proves it’s useful, but I think having international equity exposure is more beneficial.
Au
What did you expect?
My PP is at an all time high after introducing SCV...I’ll hold Gold since backtesting proves it’s useful, but I think having international equity exposure is more beneficial.
- Cortopassi
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Re: The GOLD scream room
Up $4. Not complaining.
The snapbacks on the stock market always seem to come and are almost always amazing.
I wonder what happens when that eventually fails.
Almost a given you can buy the market as close of a big down day and be up the next. Until I try.
The snapbacks on the stock market always seem to come and are almost always amazing.
I wonder what happens when that eventually fails.
Almost a given you can buy the market as close of a big down day and be up the next. Until I try.
- buddtholomew
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Re: The GOLD scream room
Agree; any purchase decisions have to be a part of the overall plan else you’re swinging blindly.Cortopassi wrote: ↑Thu Aug 16, 2018 11:34 amUp $4. Not complaining.
The snapbacks on the stock market always seem to come and are almost always amazing.
I wonder what happens when that eventually fails.
Almost a given you can buy the market as close of a big down day and be up the next. Until I try.
I’m not ecstatic over a 0.33% gain following a 10%+ YTD loss. Whatever, I guess the portfolio works if you get the timing right since I don’t want to be at lower end of the range when/if gold goes positive.
- Ad Orientem
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Re: The GOLD scream room
I suspect that this is just a brief pause in the general bear market that PMs have been in for a number of years now. Silver in particular is in need of a modest upward correction as it has become rather cheap relative to gold from the perspective of the post 1971 avg silver to gold price ratio. Additionally silver is currently trading below its production costs (around $15-16 oz.). So yeah I think silver is flashing a buy signal for long term investors. But no, I am not looking for a big move upwards anytime soon. That said markets in the near term can be wildly irrational and there is a lot of downward pressure on PMs including heavy short selling and the move to the dollar given the latest fiat paper currency crisis. If silver were to resume its decline, I would see it as a buy.buddtholomew wrote: ↑Thu Aug 16, 2018 11:12 amAll metals rallying except...wait for it...
Au
What did you expect?
My PP is at an all time high after introducing SCV...I’ll hold Gold since backtesting proves it’s useful, but I think having international equity exposure is more beneficial.
[Edit: I misread a source on the production costs of silver mining and have struck that part of my comment. While I still think silver looks attractive on a speculative basis that part of my comment was factually erroneous. The correct cost of silver extraction for miners is in the $10.50 - $11.00 range. A/O]
Last edited by Ad Orientem on Fri Aug 24, 2018 12:55 pm, edited 1 time in total.
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Re: The GOLD scream room
Even though I probably bought some at 1800 originally, I had some luck recently and got completely out at 1330 this year. I just got back in a little at 1180.
Biggest comfort for me right now with gold is the fact the central banks own it still. I was otherwise losing the faith.
Biggest comfort for me right now with gold is the fact the central banks own it still. I was otherwise losing the faith.
- dualstow
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Re: The GOLD scream room
Hah. Please don’t be sorry! I’m looking forward to buying a few coins very soon! Whether the price goes up or down.
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- dualstow
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Re: The GOLD scream room
Didn’t Greg Ip write something yesterday about the Depression being caused by France hoarding gold? Oh well, that was hoarding.whatchamacallit wrote: ↑Fri Aug 17, 2018 10:40 am
Biggest comfort for me right now with gold is the fact the central banks own it still. I was otherwise losing the faith.
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Re: The GOLD scream room
Yeah, people hoard gold and bitcoin which makes them bad currencies but good assets. Trade shouldnt be restricted just because people dont have paper to write IOUs. Paper is supposed to be worthless.
Central Banks can use gold to settle huge transactions, but for citizens it's antiquated. Unless (until?) there's social chaos leading to monetary chaos.
Central Banks can use gold to settle huge transactions, but for citizens it's antiquated. Unless (until?) there's social chaos leading to monetary chaos.
Re: The GOLD scream room
Go gold! :-) Up today 1.86% as of now.
Re: The GOLD scream room
- Cortopassi
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Re: The GOLD scream room
Oh, c'mon. Please don't try to associate any world events to gold anymore. Haven't we learned?
Wake me up when we pass $1400.
The bottom. Hah. We'll see.
Wake me up when we pass $1400.
The bottom. Hah. We'll see.
Re: The GOLD scream room
My personal and magnanimous generosity to the board. I do have this bridge for sell if you are interested however.
Re: The GOLD scream room
Cortopassi is correct. The only reliable indicator of movement in the price of gold is when I buy some. At that point it is assured of going down. Should have kept you all up to date on my purchases (thankfully they are mostly behind us).Cortopassi wrote: ↑Fri Aug 24, 2018 12:42 pmOh, c'mon. Please don't try to associate any world events to gold anymore. Haven't we learned?
But seriously, Harry Browne once talked about 9/11 in one of his podcasts (which I had printed out and was reading in my easy chair) and he was not at all surprised that the price of gold didn't move much in response to that event. His reasoning was that it had no immediate discernible effect on the strength of the USD.