The GOLD scream room

Discussion of the Gold portion of the Permanent Portfolio

Moderator: Global Moderator

User avatar
Ad Orientem
Executive Member
Executive Member
Posts: 3483
Joined: Sun Aug 14, 2011 2:47 pm
Location: Florida USA
Contact:

Re: The GOLD scream room

Post by Ad Orientem » Sun Mar 15, 2020 5:38 pm

mathjak107 wrote:
Sun Mar 15, 2020 5:04 pm
Gold opened up 24 ...stocks down 600

Stock futures have suspended trading... currently down 1041
User avatar
dualstow
Executive Member
Executive Member
Posts: 14231
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: The GOLD scream room

Post by dualstow » Sun Mar 15, 2020 5:42 pm

Aw, I should have ordered gold coins on Friday.
Sam Bankman-Fried sentenced to 25 years
User avatar
Ad Orientem
Executive Member
Executive Member
Posts: 3483
Joined: Sun Aug 14, 2011 2:47 pm
Location: Florida USA
Contact:

Re: The GOLD scream room

Post by Ad Orientem » Sun Mar 15, 2020 5:44 pm

dualstow wrote:
Sun Mar 15, 2020 5:42 pm
Aw, I should have ordered gold coins on Friday.

Thinking the same thing...
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: The GOLD scream room

Post by mathjak107 » Sun Mar 15, 2020 6:02 pm

Looks like gold is sliding back ..only up 16.90 now on kitco down from 55..it wouldn’t surprise me to see it turn negative
Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: The GOLD scream room

Post by Libertarian666 » Sun Mar 15, 2020 6:54 pm

mathjak107 wrote:
Sun Mar 15, 2020 6:02 pm
Looks like gold is sliding back ..only up 16.90 now on kitco down from 55..it wouldn’t surprise me to see it turn negative
These overnight markets in gold are very thin so we can't really have much confidence in their price discovery.
pmward
Executive Member
Executive Member
Posts: 1731
Joined: Thu Jan 24, 2019 4:39 pm

Re: The GOLD scream room

Post by pmward » Sun Mar 15, 2020 7:09 pm

Looks like it's going to be an interesting day tomorrow. Crude is getting hammered again too. We will see though, the announcement coming today was a shocker, people may look at it differently after sleeping on it.
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: The GOLD scream room

Post by mathjak107 » Mon Mar 16, 2020 4:05 am

Libertarian666 wrote:
Sun Mar 15, 2020 6:54 pm
mathjak107 wrote:
Sun Mar 15, 2020 6:02 pm
Looks like gold is sliding back ..only up 16.90 now on kitco down from 55..it wouldn’t surprise me to see it turn negative
These overnight markets in gold are very thin so we can't really have much confidence in their price discovery.
i just woke up and i thought gold would be soaring .. nope , up just 8 bucks. looks like TLT is getting the dough , up 3.12%
Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: The GOLD scream room

Post by Libertarian666 » Mon Mar 16, 2020 5:40 am

mathjak107 wrote:
Sun Mar 15, 2020 6:02 pm
Looks like gold is sliding back ..only up 16.90 now on kitco down from 55..it wouldn’t surprise me to see it turn negative
Right you were. Down $28.90, to 1501.

Wow, I was lucky to sell about 10% of my gold in the last couple of months!
User avatar
Cortopassi
Executive Member
Executive Member
Posts: 3338
Joined: Mon Feb 24, 2014 2:28 pm
Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html

Re: The GOLD scream room

Post by Cortopassi » Mon Mar 16, 2020 6:42 am

So mj, isn't this one of your buying opportunities time?
Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: The GOLD scream room

Post by Libertarian666 » Mon Mar 16, 2020 6:50 am

Cortopassi wrote:
Mon Mar 16, 2020 6:42 am
So mj, isn't this one of your buying opportunities time?
$1454, down $75, at 6:50 Central time.
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: The GOLD scream room

Post by mathjak107 » Mon Mar 16, 2020 7:21 am

Well I bought Friday with it down almost 9% last week.

I will add another 50k today It I doubt I will add more if we fall. I will just sit with it. I had as much as 500k in it at one time.

gold is in a bad position lately ... it ran up from the fear ,, now lost it pretty much and then some from the sell off ... the dilemma is it is not doing well with fear high and it stands high odds of getting beat up as fear declines and equities at these levels become the golden child
User avatar
Lonestar
Executive Member
Executive Member
Posts: 213
Joined: Tue Jun 15, 2010 7:56 pm

Re: The GOLD scream room

Post by Lonestar » Mon Mar 16, 2020 7:56 am

Help me understand. A world crisis and the Fed basically announces another QE (assuming this weakens the dollar) and gold prices crater????
Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: The GOLD scream room

Post by Libertarian666 » Mon Mar 16, 2020 7:58 am

Lonestar wrote:
Mon Mar 16, 2020 7:56 am
Help me understand. A world crisis and the Fed basically announces another QE (assuming this weakens the dollar) and gold prices crater????
https://www.kitco.com/news/2020-03-16/G ... u-can.html
User avatar
Cortopassi
Executive Member
Executive Member
Posts: 3338
Joined: Mon Feb 24, 2014 2:28 pm
Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html

Re: The GOLD scream room

Post by Cortopassi » Mon Mar 16, 2020 7:59 am

mathjak107 wrote:
Mon Mar 16, 2020 7:21 am
Well I bought Friday with it down almost 9% last week.

I will add another 50k today It I doubt I will add more if we fall. I will just sit with it. I had as much as 500k in it at one time.

gold is in a bad position lately ... it ran up from the fear ,, now lost it pretty much and then some from the sell off ... the dilemma is it is not doing well with fear high and it stands high odds of getting beat up as fear declines and equities at these levels become the golden child
The question is how long. This is obviously not a one day terrorist event. This is a multi-month slow motion disaster that is going to put equities (and gold?) at levels likely unimaginable just a couple month ago. No where to hide except cash, and maybe, we'll see, bonds.

Lonestar, all I can say is if gold reacts, it isn't on a day by day basis. It should work out in the end, but you'll hate it along the way and lose confidence in it!

The ups and downs on all the assets is doing a really good job for me mentally to not give a crap about how one performs vs. the others.
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: The GOLD scream room

Post by mathjak107 » Mon Mar 16, 2020 8:14 am

Cortopassi wrote:
Mon Mar 16, 2020 7:59 am
mathjak107 wrote:
Mon Mar 16, 2020 7:21 am
Well I bought Friday with it down almost 9% last week.

I will add another 50k today I doubt I will add more if we fall. I will just sit with it. I had as much as 500k in it at one time.

gold is in a bad position lately ... it ran up from the fear ,, now lost it pretty much and then some from the sell off ... the dilemma is it is not doing well with fear high and it stands high odds of getting beat up as fear declines and equities at these levels become the golden child
The question is how long. This is obviously not a one day terrorist event. This is a multi-month slow motion disaster that is going to put equities (and gold?) at levels likely unimaginable just a couple month ago. No where to hide except cash, and maybe, we'll see, bonds.

Lonestar, all I can say is if gold reacts, it isn't on a day by day basis. It should work out in the end, but you'll hate it along the way and lose confidence in it!

The ups and downs on all the assets is doing a really good job for me mentally to not give a crap about how one performs vs. the others.
very true ... when even the supposed flight to safety assets suck there is little to watch or care about .....the profit i will see in TLT today on what i bought friday is like peeing in the ocean .
Last edited by mathjak107 on Mon Mar 16, 2020 8:24 am, edited 1 time in total.
User avatar
dualstow
Executive Member
Executive Member
Posts: 14231
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: The GOLD scream room

Post by dualstow » Mon Mar 16, 2020 8:19 am

#humblebrag
Sam Bankman-Fried sentenced to 25 years
mdwilson1991
Associate Member
Associate Member
Posts: 39
Joined: Wed Dec 11, 2019 3:46 pm

Re: The GOLD scream room

Post by mdwilson1991 » Mon Mar 16, 2020 9:05 am

Lonestar wrote:
Mon Mar 16, 2020 7:56 am
Help me understand. A world crisis and the Fed basically announces another QE (assuming this weakens the dollar) and gold prices crater????
This certainly seems like it would be one of those times that gold skyrockets. Instead the opposite.

Again, who can predict what will happen? Not many of us, for very long.
User avatar
Ad Orientem
Executive Member
Executive Member
Posts: 3483
Joined: Sun Aug 14, 2011 2:47 pm
Location: Florida USA
Contact:

Re: The GOLD scream room

Post by Ad Orientem » Mon Mar 16, 2020 9:48 am

Gold trading around 1477 oz. I just ordered a krugerand because I couldn't stand it anymore.
User avatar
dualstow
Executive Member
Executive Member
Posts: 14231
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: The GOLD scream room

Post by dualstow » Mon Mar 16, 2020 10:12 am

Ad Orientem wrote:
Mon Mar 16, 2020 9:48 am
Gold trading around 1477 oz. I just ordered a krugerand because I couldn't stand it anymore.
I think German psychoanalyst Sigmund Freud coined the term for that, kaufkrugerrandkanntschtanditknomor
Sam Bankman-Fried sentenced to 25 years
User avatar
Cortopassi
Executive Member
Executive Member
Posts: 3338
Joined: Mon Feb 24, 2014 2:28 pm
Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html

Re: The GOLD scream room

Post by Cortopassi » Mon Mar 16, 2020 10:21 am

dualstow wrote:
Mon Mar 16, 2020 10:12 am
Ad Orientem wrote:
Mon Mar 16, 2020 9:48 am
Gold trading around 1477 oz. I just ordered a krugerand because I couldn't stand it anymore.
I think German psychoanalyst Sigmund Freud coined the term for that, kaufkrugerrandkanntschtanditknomor
Good one. Gold popping back up, so good call AD.
User avatar
mathjak107
Executive Member
Executive Member
Posts: 4456
Joined: Fri Jun 19, 2015 2:54 am
Location: bayside queens ny
Contact:

Re: The GOLD scream room

Post by mathjak107 » Mon Mar 16, 2020 10:26 am

Gold is following stocks ....to funny ....
pmward
Executive Member
Executive Member
Posts: 1731
Joined: Thu Jan 24, 2019 4:39 pm

Re: The GOLD scream room

Post by pmward » Mon Mar 16, 2020 11:41 am

Guys this happens every time. Go look back at 2008, in the panic gold dropped along with stocks, even though fundamentally it was good for gold long term. It was one of the best buying opportunities for gold in decades. Same thing is playing out today. Gold will go up dramatically once the panic starts to subside and people have to stop selling gold to cover margin calls.
Libertarian666
Executive Member
Executive Member
Posts: 5994
Joined: Wed Dec 31, 1969 6:00 pm

Re: The GOLD scream room

Post by Libertarian666 » Mon Mar 16, 2020 11:51 am

pmward wrote:
Mon Mar 16, 2020 11:41 am
Guys this happens every time. Go look back at 2008, in the panic gold dropped along with stocks, even though fundamentally it was good for gold long term. It was one of the best buying opportunities for gold in decades. Same thing is playing out today. Gold will go up dramatically once the panic starts to subside and people have to stop selling gold to cover margin calls.
Yes, and in fact in 2008 the "price drops" were more apparent than real. I tried to buy some gold when it dropped to $800, and the only physical metal I could find, namely 1 oz. Kitco bars, had a premium of 10%, which is at least twice the normal premium.
User avatar
dualstow
Executive Member
Executive Member
Posts: 14231
Joined: Wed Oct 27, 2010 10:18 am
Location: synagogue of Satan
Contact:

Re: The GOLD scream room

Post by dualstow » Mon Mar 16, 2020 11:57 am

Apmex doesn't have the coins I want. 2020 year kangaroos. I can wait.
Sam Bankman-Fried sentenced to 25 years
pmward
Executive Member
Executive Member
Posts: 1731
Joined: Thu Jan 24, 2019 4:39 pm

Re: The GOLD scream room

Post by pmward » Tue Mar 17, 2020 12:49 pm

I am looking at all the stimulus they have announced in the last week. All I have to say is holy crap! I would be shocked if gold isn't at new highs in the next year to two at most. I'm almost hoping this panic selling takes gold back down to that $1350-1400 range, as I would love to do a ~5% overbalance there (from bonds). I just cannot fathom a scenario where gold isn't up big a year from now. I'm incredibly bullish gold long term.
Post Reply