The GOLD scream room

Discussion of the Gold portion of the Permanent Portfolio

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pmward
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Re: The GOLD scream room

Post by pmward » Mon Mar 09, 2020 9:07 am

Cortopassi wrote:
Mon Mar 09, 2020 9:03 am
pmward wrote:
Mon Mar 09, 2020 8:59 am
Libertarian666 wrote:
Mon Mar 09, 2020 3:26 am
Back down to up only $3 on the day, at $1676.
Yeah, we've officially hit that public "SELL EVERYTHING!!!" point in the meltdown.
Except bonds?
Money has to go somewhere, and usually in those sell everything panic modes it winds up in bonds.
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Cortopassi
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Re: The GOLD scream room

Post by Cortopassi » Thu Mar 12, 2020 7:22 am

Hopefully bonds provide a little buffer today, doesn't look like gold will.
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Re: The GOLD scream room

Post by mdwilson1991 » Thu Mar 12, 2020 9:36 am

Shows what I can predict, but I really thought gold might take off with this panic selling, oil prices plummeting, global pandemic thing we've got going on.

So far, not at all.
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Re: The GOLD scream room

Post by Tyler » Thu Mar 12, 2020 10:13 am

mdwilson1991 wrote:
Thu Mar 12, 2020 9:36 am
Shows what I can predict, but I really thought gold might take off with this panic selling, oil prices plummeting, global pandemic thing we've got going on.

So far, not at all.
There are always way more factors that affect markets than you think. Gold itself may be more valuable than ever, but leveraged stock investors also have to sell something to cover their margin calls. But given enough time, secondary factors will run their course and things will work out.

In the meantime, everything is relative. When stocks are hitting circuit breakers, modest gold losses feel like great bargains. ;)
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Re: The GOLD scream room

Post by Libertarian666 » Thu Mar 12, 2020 11:42 am

Tyler wrote:
Thu Mar 12, 2020 10:13 am
mdwilson1991 wrote:
Thu Mar 12, 2020 9:36 am
Shows what I can predict, but I really thought gold might take off with this panic selling, oil prices plummeting, global pandemic thing we've got going on.

So far, not at all.
There are always way more factors that affect markets than you think. Gold itself may be more valuable than ever, but leveraged stock investors also have to sell something to cover their margin calls. But given enough time, secondary factors will run their course and things will work out.

In the meantime, everything is relative. When stocks are hitting circuit breakers, modest gold losses feel like great bargains. ;)
Especially since gold is still in positive territory for the year.
So far, anyway.
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Re: The GOLD scream room

Post by Libertarian666 » Fri Mar 13, 2020 11:35 am

As I'm writing this, gold is still up about 1% YTD.
And these must be end times, because I've recently sold about 10% of my gold holdings at prices about $100 above where we are right now.
Not because I thought this would happen, but just to have lots of cash because I'm possibly going to buy a house later this year.
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Re: The GOLD scream room

Post by Ad Orientem » Sun Mar 15, 2020 4:27 pm

Here we go...

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program...
https://www.cnbc.com/2020/03/15/federal ... ogram.html
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Re: The GOLD scream room

Post by mathjak107 » Sun Mar 15, 2020 4:39 pm

this could go either way .... it basically is saying we are in deep doo doo ...

it could be bad for stocks and bad for gold and long term bonds ..... finding buyers at these rates may be tough for bonds ... and margin calls may see both hammered
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Re: The GOLD scream room

Post by dualstow » Sun Mar 15, 2020 4:44 pm

Ad Orientem wrote:
Sun Mar 15, 2020 4:27 pm
Here we go...

Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program...
https://www.cnbc.com/2020/03/15/federal ... ogram.html
Wow!
Sam Bankman-Fried sentenced to 25 years
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Re: The GOLD scream room

Post by Libertarian666 » Sun Mar 15, 2020 4:55 pm

mathjak107 wrote:
Sun Mar 15, 2020 4:39 pm
this could go either way .... it basically is saying we are in deep doo doo ...

it could be bad for stocks and bad for gold and long term bonds ..... finding buyers at these rates may be tough for bonds ... and margin calls may see both hammered
I'm going to guess that gold is going to the moon after a possible dive due to margin calls on stocks.
Bonds, I don't know about, because the interest rate cut may be opposed by devaluation of the dollar.
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Re: The GOLD scream room

Post by mathjak107 » Sun Mar 15, 2020 5:01 pm

Inflation worries for bonds ... I mean who wants to buy a 30 year bond paying 1.50% and the govt spending another almost trillion dollars
Last edited by mathjak107 on Sun Mar 15, 2020 5:09 pm, edited 1 time in total.
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Re: The GOLD scream room

Post by mathjak107 » Sun Mar 15, 2020 5:04 pm

Gold opened up 24 ...stocks down 600
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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
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Re: The GOLD scream room

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

Aw, I should have ordered gold coins on Friday.
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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...
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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
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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.
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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.
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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%
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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!
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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?
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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.
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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
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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????
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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
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