The GOLD scream room

[drumminj]

I don't think my PP has seen such a large one day swing %-wise ever?

Same. I manually updated my spreadsheet today as a forcing function to keep myself humble next time things are going gangbusters

[Libertarian666]

I had cut my holdings in half about a week or two ago .......

I had a very uncomfortable feeling about all assets in the pp ......it was like investors were punch drunk .


I started to add some back today ...I couldn’t resist .....today was a killer drop on even the half that was left exceeding 35k ..to think if I didn’t cut back it would have been 70k is insane ..

If portfolio volatility is a serious issue, I should be the one freaking out, but I'm not.
I'm still way ahead for the year, which is good enough for me.

[Cortopassi]

I have to slap myself but I actually took a look at GLD and SLV call options today. I have not looked at options for years.

Looks like the beating is continuing tonight. If it continues through morning, I may have to risk a few hundred on a couple 1-2 month out calls. I know I shouldn't, but I need to convince myself I still suck at timing options.

[mathjak107]

I had cut my holdings in half about a week or two ago .......

I had a very uncomfortable feeling about all assets in the pp ......it was like investors were punch drunk .


I started to add some back today ...I couldn’t resist .....today was a killer drop on even the half that was left exceeding 35k ..to think if I didn’t cut back it would have been 70k is insane ..

If portfolio volatility is a serious issue, I should be the one freaking out, but I'm not.
I'm still way ahead for the year, which is good enough for me.

the reality is today volatility is greater on all investments ... things move fast and furious both up and down ....

especial;ly in the pp when assets can move together and act like very very high equity positions .

for a daily drop the fall yesterday in the pp is my 2nd biggest in dollars to date .

but because i had cut the position in half and it still fell so much it may actually now be on a dollars down vs dollars invested basis the worst drop i have had in one day . i think 52k was my worst day with the insight models

[buddtholomew]

Kitco site is down so don’t freak out.
Gold is up 1+% at the moment and Silver +2.4%

[Ad Orientem]

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!

[dualstow]

[Ad Orientem]

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?

[Ad Orientem]

Looks like the hemorrhaging has slowed and gold may be getting support around $1900 and silver around $25.

[Cortopassi]

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.

[Cortopassi]

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.

You don't have to answer, but after a career (??) of collecting scraps, how many ounces are we talking? Just curious.

[Ugly_Bird]

Hmmmm...

https://www.marketwatch.com/story/gold- ... yptr=yahoo

[Libertarian666]

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.

[mathjak107]

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

https://seekingalpha.com/article/437000 ... ent=link-0

[Ad Orientem]

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.

[pmward]

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.

[Ad Orientem]

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.

[ppnewbie]

I’m wondering if I should focus acquiring silver. It’s still quite undervalued compared to gold.

[mathjak107]

in a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .

[Ad Orientem]

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.

[mathjak107]

not a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.

[pmward]

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.

[Cortopassi]

Well, this is where stocks take up the slack!

[mathjak107]

exactly .

just a shame it isn't all gravy on a day like today , we have so few days like this .

[Cortopassi]

I can only imagine that it is a slight delay for gold. Not like Biden is going to turn off the money spigot.