MangoMan wrote: ↑Wed Aug 12, 2020 3:30 pmNo problem. But do you want them back tomorrow or 7-10 days from now?Ad Orientem wrote: ↑Wed Aug 12, 2020 3:03 pmMangoMan wrote: ↑Wed Aug 12, 2020 2:41 pmOkay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
I want my fillings back!
The GOLD scream room
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- dualstow
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Re: The GOLD scream room
Sam Bankman-Fried sentenced to 25 years
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Looks like the hemorrhaging has slowed and gold may be getting support around $1900 and silver around $25.
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Re: The GOLD scream room
Bird in the hand...tomorrow.MangoMan wrote: ↑Wed Aug 12, 2020 2:41 pmOkay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
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You don't have to answer, but after a career (??) of collecting scraps, how many ounces are we talking? Just curious.MangoMan wrote: ↑Thu Aug 13, 2020 6:39 amAnd that is what I told them earlier this morning. Since gold futures are up.Cortopassi wrote: ↑Wed Aug 12, 2020 9:40 pmBird in the hand...tomorrow.MangoMan wrote: ↑Wed Aug 12, 2020 2:41 pmOkay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
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Re: The GOLD scream room
So they have two whole examples of when this theory would have predicted the gold price would go down, and that makes it a fact?Ugly_Bird wrote: ↑Thu Aug 20, 2020 12:48 pmHmmmm...
https://www.marketwatch.com/story/gold- ... yptr=yahoo
LOL.
- mathjak107
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for what it's worth , an article today on gold from seeking alpha
https://seekingalpha.com/article/437000 ... ent=link-0
https://seekingalpha.com/article/437000 ... ent=link-0
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Tough day across the board with everybody piling into cash. Gold and silver have both broken below support levels at $1900/oz and $25/oz. With much of Europe inching towards another lockdown, the major correction on Wall Street may not end soon.
Re: The GOLD scream room
Rising dollar is definitely putting the breaks on metals. I'm suspect that it will become a "major correction on Wall Street" though, as the scenario you listed should actually lead to a rally in U.S. assets (ie USD, stocks, and bonds) at the expense of the Euro, international assets, and metals. Of course, this could all just be a consolidation pullback for the Euro and metals, the USD was pretty oversold on the short term, and the Euro and metals have both been overbought in turn. A pullback in that trend could be a dip worth buying, especially if congress can finally agree on a fiscal stimulus package.
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Thought I'd blow away some of the cobwebs from this unusually quiet thread. I note a nice bump in metals as people are anticipating more stimulus/debt/inflation with the likely change in administration. Also stocks and even bonds are all doing nicely today.
Re: The GOLD scream room
I’m wondering if I should focus acquiring silver. It’s still quite undervalued compared to gold.
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in a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .
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mathjak107 wrote: ↑Sun Nov 08, 2020 3:32 amin a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .
Agreed. Silver is strictly VP stuff. I do have a small position that I acquired when when silver was trading under $15 but I don't consider that as part of the PP. And as a speculation, I would not be adding to that position right now.
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not a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
Re: The GOLD scream room
I had a little cash I needed to put into gold, and this looks like as good of a morning as any to deploy that cash.mathjak107 wrote: ↑Mon Nov 09, 2020 7:43 amnot a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
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Well, this is where stocks take up the slack!
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exactly .
just a shame it isn't all gravy on a day like today , we have so few days like this .
just a shame it isn't all gravy on a day like today , we have so few days like this .
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Re: The GOLD scream room
I can only imagine that it is a slight delay for gold. Not like Biden is going to turn off the money spigot.
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i agree . i added a bit today to bring it back up the 10k it fell .
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The future is unpredictable. That said a lot of the expensive suits on Wall Street remain bullish on gold. And FTR I tend to agree. I certainly like gold more than bonds. Citigroup recently predicted $2500/oz for 2021. I'm not a fan of these price targets which strike me as the financial equivalent to tarot cards, but in general I do see a case for higher gold.
https://www.cnbc.com/2020/11/24/gold-to ... -2021.html
[P.S. Bitcoin is highly speculative and is not a substitute for gold in the PP. I don't care for it but some people do. Just understand that it is a gamble and as such should not be a part of a permanent portfolio.]
Re: The GOLD scream room
Remember all the way back in July 2020, when everybody was talking about how gold was THE asset and Bitcoin was old news? How quickly that narrative reversed, huh? I think gold will be fine, especially if you look back historically at the length of a typical gold bull market. We are well within the norm of a pullback/consolidation before another crazy move up.Ad Orientem wrote: ↑Wed Nov 25, 2020 11:49 am
The future is unpredictable. That said a lot of the expensive suits on Wall Street remain bullish on gold. And FTR I tend to agree. I certainly like gold more than bonds. Citigroup recently predicted $2500/oz for 2021. I'm not a fan of these price targets which strike me as the financial equivalent to tarot cards, but in general I do see a case for higher gold.
https://www.cnbc.com/2020/11/24/gold-to ... -2021.html
[P.S. Bitcoin is highly speculative and is not a substitute for gold in the PP. I don't care for it but some people do. Just understand that it is a gamble and as such should not be a part of a permanent portfolio.]
I don't know whether Bitcoin will stay a relevant asset or not. I can make a logical argument for and against. I don't see anything wrong with a VP moonshot speculative kind of bet on Bitcoin. But I definitely wouldn't say it was anywhere close to proven enough at this point for discussion about inclusion in the PP. I also would not be buying Bitcoin today.
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Bitcoin in the PP? I'm going to need a more established track record showing it's long term performance as an accepted store of value. Get back to me in 6000 years or so and we can talk about it.
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Bitcoin was down 1700 bucks today
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Re: The GOLD scream room
Bought some IAU at 17.04 today to restore AA.