The GOLD scream room

[Cortopassi]

And for posterity's sake, when some poster a few months or years from now posts here saying how much gold sucks, why should I own it:

Don't know about you guys but my PP even to slightly up today. Again, I wish I found this allocation 30 years ago.

[Kbg]

Poor Budd...

[dualstow]

You don’t need any gurus, Corto.
If you meet the Buddha on the road, kill him.

[Libertarian666]

$1486 on Kitco, up another $13 today.

I told you this would happen because I've been selling a bit of my holdings.

[drumminj]

$1486 on Kitco, up another $13 today.

I told you this would happen because I've been selling a bit of my holdings.

Thank you for taking one for the team! It's just paper gains, but it still feels good right now...

[Don]

If mathjak or budd are lurking, what are your thoughts now looking at the one year returns below? Seems gold is maybe finally having its day after a very, very, very long wait. And bonds are smoking.

I don't obviously see what changes how things are looking at least short term. It doesn't feel like there will be some snapback stock rally, that Trump or Mnuchin or someone else has much ability anymore to come out and move markets in a positive sense. I think they've all been called out.

I suspect mathjak and budd will get back in after another $500 increase in the gold price, then watch it drop or stagnate for a couple of years, then go away mad again.

That's the way it tends to go with the Permanent Portfolio. If you can't tolerate a slow more or less steady increase, you will jump in and out of gold at just the wrong time.

They can't answer because they were both banned.

[stuper1]

Banned for good reason, as I recall.

[Ad Orientem]

It's about half past midnight here and gold is within spitting distance of $1500.

[Smith1776]

I'd bet decent money that either of them may have created new accounts heh.

Regardless, it's times like this where I find it interesting that no one on the Bogleheads forum is even making a peep about gold. The amount of handwaving and contortion there is funny.

The true portfolio balance of the PP never ceases to amaze me.

[Libertarian666]

I'd bet decent money that either of them may have created new accounts heh.

Regardless, it's times like this where I find it interesting that no one on the Bogleheads forum is even making a peep about gold. The amount of handwaving and contortion there is funny.

The true portfolio balance of the PP never ceases to amaze me.

They have excellent arguments against including gold in a portfolio. Here are the strongest ones:

1. You can't eat it, whereas stock certificates make a great salad!
2. It doesn't pay dividends or interest, whereas Berkshire Hathaway... um, never mind that!
3. It's a "barbarous relic" according to Keynes... although he didn't say that.

So you can see why they don't want to include it!

[Libertarian666]

$1486 on Kitco, up another $13 today.

I told you this would happen because I've been selling a bit of my holdings.

Thank you for taking one for the team! It's just paper gains, but it still feels good right now...

I really did take one for the team. I've sold off more than 10% of my gold in the last 12 months, at prices around $1400.
However, early last year I cashed in another asset and bought gold with the proceeds, at about $1350.
So I still have more gold than I did a couple of years ago.

[Libertarian666]

$1500 in the rear view mirror.

[ochotona]

$1500 in the rear view mirror.

Thank you for selling!

[dualstow]

Please sell some more, tech. I’m finally at breakeven today, but feeling greedy.

[Libertarian666]

Please sell some more, tech. I’m finally at breakeven today, but feeling greedy.

I’m selling silver right this minute. Does that work for you?

[dualstow]

I don’t hold any silver to speak of, but you’ll make Ad O happy.

[Ad Orientem]

I don’t hold any silver to speak of, but you’ll make Ad O happy.

I generally don't speculatively buy when the market is moving violently up. Yes, I'm regretting not having bought more silver when it was under $15 oz. But that's life. Today was still a really good day.

[Cortopassi]

You too can become an analyst! Just learn how to speak out of both sides of your mouth. From Kitco this morning:

[flyingpylon]

Don't just stand there... stand there and worry!

[dualstow]

That’s right, Corto. Always express concern, but leave hope!

[Cortopassi]

Tariffs delayed, gold slammed, stocks surge!

What a joke these markets are!

[pmward]

Not surprising, gold is right at a major resistance level. Not surprised to see a little struggle and cool off, regardless of fundamentals. It has recovered most of its initial losses with the tariff news this morning though. Honesty, I don't trust any of the markets right now. I still think stocks are going to be the asset to give first. This directionless volatile thrashing up and down every day feels an awful lot like last fall, right before the winter plunge. Although, I do also agree with Kitco that gold and bonds have come a long way, likely do have more upside over the medium to long term, but probably also need a cool off in the short term. I wouldn't be surprised if we have just pulled our defense forward over the last few months; in other words, I wouldn't be surprised to see stocks plunge at some point before the end of the year, while gold and bonds basically just trade sideways instead of further gains. That's not to say they can't continue up, but I think in the near term they are both at risk of going parabolic, and that means that the more they rally the more they are both at risk of a short term plunge as well. What we don't want to see is a sell everything market, and if bonds and gold continue to go parabolic that becomes a tangible possibility. I think that a few months of sideways chop, or even a good 5-10% retrace pullback in both gold and bonds would be healthy for the long term uptrend (not to mention giving us more opportunity to add on by buying the dip). I'm still a believer in both bonds and gold long term, but I would be lying if I said I wasn't getting a bit queasy from the ride at the moment.

[ochotona]

Tariffs delayed, gold slammed, stocks surge!

What a joke these markets are!

Just wait until TLT gives up some of its recent gains. That will be painful.

[Smith1776]

You too can become an analyst! Just learn how to speak out of both sides of your mouth. From Kitco this morning:

Does this mean I’d get to hang around Daniela Cambone all day?

[ochotona]

She is more smokin hot than a plate of Poutine