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 » Wed Aug 12, 2020 3:55 pm

😂
Sam Bankman-Fried sentenced to 25 years
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Re: The GOLD scream room

Post by Ad Orientem » Wed Aug 12, 2020 5:35 pm

MangoMan wrote:
Wed Aug 12, 2020 3:30 pm
Ad Orientem wrote:
Wed Aug 12, 2020 3:03 pm
MangoMan wrote:
Wed Aug 12, 2020 2:41 pm
Okay, 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!
No problem. But do you want them back tomorrow or 7-10 days from now?
>:(
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Ad Orientem
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Re: The GOLD scream room

Post by Ad Orientem » Wed Aug 12, 2020 7:53 pm

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

Post by Cortopassi » Wed Aug 12, 2020 9:40 pm

MangoMan wrote:
Wed Aug 12, 2020 2:41 pm
Okay, 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?
Bird in the hand...tomorrow.
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Re: The GOLD scream room

Post by Cortopassi » Thu Aug 13, 2020 8:39 am

MangoMan wrote:
Thu Aug 13, 2020 6:39 am
Cortopassi wrote:
Wed Aug 12, 2020 9:40 pm
MangoMan wrote:
Wed Aug 12, 2020 2:41 pm
Okay, 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?
Bird in the hand...tomorrow.
And that is what I told them earlier this morning. Since gold futures are up. 8)
You don't have to answer, but after a career (??) of collecting scraps, how many ounces are we talking? Just curious.
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Re: The GOLD scream room

Post by Ugly_Bird » Thu Aug 20, 2020 12:48 pm

Libertarian666
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Re: The GOLD scream room

Post by Libertarian666 » Thu Aug 20, 2020 1:37 pm

Ugly_Bird wrote:
Thu Aug 20, 2020 12:48 pm
Hmmmm...

https://www.marketwatch.com/story/gold- ... yptr=yahoo
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?
LOL.
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Re: The GOLD scream room

Post by mathjak107 » Fri Aug 21, 2020 7:13 am

for what it's worth , an article today on gold from seeking alpha

https://seekingalpha.com/article/437000 ... ent=link-0
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Re: The GOLD scream room

Post by Ad Orientem » Mon Sep 21, 2020 10:33 am

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.
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Re: The GOLD scream room

Post by pmward » Mon Sep 21, 2020 12:47 pm

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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Re: The GOLD scream room

Post by Ad Orientem » Thu Nov 05, 2020 2:47 pm

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.
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Re: The GOLD scream room

Post by ppnewbie » Sun Nov 08, 2020 1:00 am

I’m wondering if I should focus acquiring silver. It’s still quite undervalued compared to gold.
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Re: The GOLD scream room

Post by mathjak107 » Sun Nov 08, 2020 3:32 am

in a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .
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Re: The GOLD scream room

Post by Ad Orientem » Sun Nov 08, 2020 10:21 am

mathjak107 wrote:
Sun Nov 08, 2020 3:32 am
in 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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Re: The GOLD scream room

Post by mathjak107 » Mon Nov 09, 2020 7:43 am

not a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
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Re: The GOLD scream room

Post by pmward » Mon Nov 09, 2020 7:49 am

mathjak107 wrote:
Mon Nov 09, 2020 7:43 am
not a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
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.
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Re: The GOLD scream room

Post by Cortopassi » Mon Nov 09, 2020 8:00 am

Well, this is where stocks take up the slack!
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Re: The GOLD scream room

Post by mathjak107 » Mon Nov 09, 2020 8:14 am

exactly .

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

Post by Cortopassi » Mon Nov 09, 2020 8:34 am

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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Re: The GOLD scream room

Post by mathjak107 » Mon Nov 09, 2020 10:30 am

i agree . i added a bit today to bring it back up the 10k it fell .
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Re: The GOLD scream room

Post by Ad Orientem » Wed Nov 25, 2020 11:49 am

dw260307 wrote:
Wed Nov 25, 2020 2:01 am
i would like to know gold has a chance to cross 1900 this year or not ?

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.]
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Re: The GOLD scream room

Post by pmward » Wed Nov 25, 2020 12:07 pm

Ad Orientem wrote:
Wed Nov 25, 2020 11:49 am
dw260307 wrote:
Wed Nov 25, 2020 2:01 am
i would like to know gold has a chance to cross 1900 this year or not ?

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.]
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.

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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Re: The GOLD scream room

Post by Ad Orientem » Wed Nov 25, 2020 12:11 pm

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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Re: The GOLD scream room

Post by mathjak107 » Thu Nov 26, 2020 4:31 pm

Bitcoin was down 1700 bucks today
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Re: The GOLD scream room

Post by buddtholomew » Fri Nov 27, 2020 11:52 am

Bought some IAU at 17.04 today to restore AA.
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