The GOLD scream room

Discussion of the Gold portion of the Permanent Portfolio

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dualstow
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Re: The GOLD scream room

Post by dualstow » Sat Feb 22, 2020 11:03 am

sophie wrote:
Sat Feb 22, 2020 9:56 am
from dualstow's signature: Gold has passed 1645/oz

Thought this was worth recording permanently because...Geez. What is going on with gold? Is this maybe about the coronavirus? Then again...who knows. It's all crowdspeak.
On CNBC, it was noted that even as people continue to pour money into the market (Stock Scream thread has an article about Mom and Pop investors excited by fee-free trading), there is also money going into classic safe havens. Hence the falling yields and rise in the price of gold. Why are they also going into safe havens? Supposedly a lot of it *is* corona. Some think that the market is finally ready to tank because corona is eating into profits: airline companies, internationally sold beverages, lots of things.

Others think that this will be wrapped up by May- that the virus will be contained, things will go back to normal, and in the rear view mirror, this will look like a buying opportunity. 🤷‍♂️
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technovelist
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Re: The GOLD scream room

Post by technovelist » Sat Feb 22, 2020 11:46 am

dualstow wrote:
Sat Feb 22, 2020 11:03 am
sophie wrote:
Sat Feb 22, 2020 9:56 am
from dualstow's signature: Gold has passed 1645/oz

Thought this was worth recording permanently because...Geez. What is going on with gold? Is this maybe about the coronavirus? Then again...who knows. It's all crowdspeak.
On CNBC, it was noted that even as people continue to pour money into the market (Stock Scream thread has an article about Mom and Pop investors excited by fee-free trading), there is also money going into classic safe havens. Hence the falling yields and rise in the price of gold. Why are they also going into safe havens? Supposedly a lot of it *is* corona. Some think that the market is finally ready to tank because corona is eating into profits: airline companies, internationally sold beverages, lots of things.

Others think that this will be wrapped up by May- that the virus will be contained, things will go back to normal, and in the rear view mirror, this will look like a buying opportunity. 🤷‍♂️
Or a selling opportunity for gold.

I'm going to be selling a modest amount but not for that reason; I'm planning to buy a house this summer and am raising cash.
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dualstow
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Re: The GOLD scream room

Post by dualstow » Sat Feb 22, 2020 2:36 pm

Yes O0

I'm close to selling some paper gold at breakeven, gold which I already replaced by buying coins months ago.
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Cortopassi
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Re: The GOLD scream room

Post by Cortopassi » Mon Feb 24, 2020 8:41 am

Today is a shining example of the calming effect of the PP. Gold and bonds more than making up for the stock massacre.
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Re: The GOLD scream room

Post by drumminj » Mon Feb 24, 2020 8:58 am

Cortopassi wrote:
Mon Feb 24, 2020 8:41 am
Today is a shining example of the calming effect of the PP. Gold and bonds more than making up for the stock massacre.
I'm a little ashamed to say I get a bit excited on days like today, so maybe not so "calming". Happy to have days like this which make up for the tracking error against stocks when they're humming along to new highs every day.

(a lot of my future compensation is stock-based, so there's some sadness inside too as I think about that)
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Re: The GOLD scream room

Post by Cortopassi » Mon Feb 24, 2020 1:59 pm

Interesting that gold is getting crushed back down but bonds are holding.
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Re: The GOLD scream room

Post by technovelist » Mon Feb 24, 2020 2:50 pm

Cortopassi wrote:
Mon Feb 24, 2020 1:59 pm
Interesting that gold is getting crushed back down but bonds are holding.
Yes, gold is getting "crushed back down" to being up only $16 on the day. Woe is me!
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Re: The GOLD scream room

Post by Cortopassi » Mon Feb 24, 2020 3:56 pm

technovelist wrote:
Mon Feb 24, 2020 2:50 pm
Cortopassi wrote:
Mon Feb 24, 2020 1:59 pm
Interesting that gold is getting crushed back down but bonds are holding.
Yes, gold is getting "crushed back down" to being up only $16 on the day. Woe is me!
Crushed was a hard word, but when you consider that stocks held their losses, bonds held their gains, and gold did this in the afternoon, it is definitely an odd man out for some reason.

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Re: The GOLD scream room

Post by Ad Orientem » Mon Feb 24, 2020 4:23 pm

Gold has always been the most volatile component in the PP, by far. And it marches to its own drumbeat. Same with silver. Bonds and precious metals were up today and helped to offset the stock market's trip to the woodshed. Life is good.
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Re: The GOLD scream room

Post by Tortoise » Mon Feb 24, 2020 5:14 pm

If Budd were still here, he would be complaining that gold and bonds "failed to buoy the PP as advertised" since they merely softened the blow from stocks instead of more than offsetting the losses ;D
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Re: The GOLD scream room

Post by Ad Orientem » Mon Feb 24, 2020 6:57 pm

LOL. Budd was one of those ppl who really needed to be in just cash or short term bonds.
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Re: The GOLD scream room

Post by Cortopassi » Tue Feb 25, 2020 3:28 pm

Let me channel Budd here, and say, what the hell? I mean, sure it is still technically up for the past few days, but is this the old BS of people selling gold to fund their margin calls?
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