The GOLD scream room

[Smith1776]

No, it doesn't need to stop. It's not going to... yet.

It's going to $5,000; then to $10,000; then it's going to $20,000.

When it hits $20,000 Craig and Tex will come back and write a new edition of their book that advocates replacing gold with platinum in the PP.

The U.S. Dollar collapses and at the same time NASA finally captures that gold packed asteroid up in space. The gold price subsequently collapses as well, and the price of platinum rises to 1 trillion dollars per ounce.

Craig and Tex, for their prudence, become joint fed chairmen and the true believers on this forum all become members of the board of governors.

[Kriegsspiel]

No, it doesn't need to stop. It's not going to... yet.

It's going to $5,000; then to $10,000; then it's going to $20,000.

BYAH!

[dualstow]

Just minutes ago, I removed a long ingrown beard whisker AND got rid of IAU in my 401(k) above breakeven.
The two experiences felt rather the same.

(I still believe in holding 25% gold in the pp. This is just a move to holding all physical).

P.S. ^Love that Dean scream, Kriegs.^

[ochotona]

Just minutes ago, I removed a long ingrown beard whisker AND got rid of IAU in my 401(k) above breakeven.
The two experiences felt rather the same.

(I still believe in holding 25% gold in the pp. This is just a move to holding all physical).

P.S. ^Love that Dean scream, Kriegs.^

I just sold my shares in NEM (Newmont Goldcorp) and will move my HSA to Fidelity and re-buy IAU... sorry Lively HSA, I have too many login accounts. And the ETFs are off-brands.

I set up a taxable TD Ameritrade account with a cashless HBPP in it, total value $109, so I can keep using TD's fine alerting system.

[sophie]

Good luck with getting your money out of LIvely! It can be done, but it was like pulling teeth. Be prepared to spend hours on the phone repeatedly, and expect the process to take around 3 months (which is how long it took for me). I'm sure they have seen a lot of their accounts go to Fidelity. It will definitely be simpler if you liquidate the TDA account and transfer the cash into Lively, rather than attempting an in-kind transfer.

Dualstow: all physical, eh?? Wow!! Didn't know you were hardcore.

[ochotona]

Good luck with getting your money out of LIvely! It can be done, but it was like pulling teeth. Be prepared to spend hours on the phone repeatedly, and expect the process to take around 3 months (which is how long it took for me). I'm sure they have seen a lot of their accounts go to Fidelity. It will definitely be simpler if you liquidate the TDA account and transfer the cash into Lively, rather than attempting an in-kind transfer.

Dualstow: all physical, eh?? Wow!! Didn't know you were hardcore.

Yes, vacating my positions in TDA, pushing the cash to Lively.

[dualstow]

Not hardcore, Soph. I guess I feel like I’ll be holding gold long-term, so I would rather have metal than paper. IAU will lose value over time if the price treads water. I can give the coins to heirs.

Also, there is no paperwork to fill out for the accountant.

[dualstow]

Well, gold is back down to earth. I cannot decide if I'd rather have it go up or down at this point.
I think I have achieved nirvana.

[Libertarian666]

Well, gold is back down to earth. I cannot decide if I'd rather have it go up or down at this point.
I think I have achieved nirvana.

$1525 is "back down to earth"? Or are my quotes stale?

[dualstow]

Down to earth but still a good price.

[Libertarian666]

$1548.

[dualstow]

$1548.

Tied with Palladium.

[dualstow]

1555 says Apmex.

[boglerdude]

"The growing demand for gold as a conductive metal used in phones and other electronic products has helped spawn a deadly illegal trade that’s harder to track than other black-market commodities like blood diamonds or drugs."

https://www.nytimes.com/2019/08/30/the- ... ombia.html

[Libertarian666]

"The growing demand for gold as a conductive metal used in phones and other electronic products has helped spawn a deadly illegal trade that’s harder to track than other black-market commodities like blood diamonds or drugs."

https://www.nytimes.com/2019/08/30/the- ... ombia.html

If something is illegal, then criminals are the ones who will supply it.
In other news, water is wet.

[Cortopassi]

Once again, all is right with the world, US and China are going to meet...Groundhog Day.

[dualstow]

Once again, all is right with the world, US and China are going to meet...Groundhog Day.

Yep, except instead of the same day over and over again, we're alternating between Groundhog Day and....let's call the other one Sweathog Day.

[dualstow]

"The growing demand for gold as a conductive metal used in phones and other electronic products has helped spawn a deadly illegal trade that’s harder to track than other black-market commodities like blood diamonds or drugs."

https://www.nytimes.com/2019/08/30/the- ... ombia.html

Very interesting!

If something is illegal, then criminals are the ones who will supply it.
In other news, water is wet.

I didn't understand your response to this one tech. In fact, reading up from the bottom of this page, I thought it was about drugs and not gold. Isn't it not a case of something being banned outright, but that there are illegal, unlicensed operations running alongside legal ones? And furthermore, it's happening in an environment where criminals are more powerful than a stable government.

When something becomes very valuable, be it metal, oil, refined coca leaves or a rare and purportedly healthful fungus growing in Asia, criminals are going to get involved, parallel to legal suppliers which may or may not exist.

[ochotona]

Once again, all is right with the world, US and China are going to meet...Groundhog Day.

Gold and long Treasuries will be under assault for a while...

[Libertarian666]

"The growing demand for gold as a conductive metal used in phones and other electronic products has helped spawn a deadly illegal trade that’s harder to track than other black-market commodities like blood diamonds or drugs."

https://www.nytimes.com/2019/08/30/the- ... ombia.html

Very interesting!

If something is illegal, then criminals are the ones who will supply it.
In other news, water is wet.

I didn't understand your response to this one tech. In fact, reading up from the bottom of this page, I thought it was about drugs and not gold. Isn't it not a case of something being banned outright, but that there are illegal, unlicensed operations running alongside legal ones? And furthermore, it's happening in an environment where criminals are more powerful than a stable government.

When something becomes very valuable, be it metal, oil, refined coca leaves or a rare and purportedly healthful fungus growing in Asia, criminals are going to get involved, parallel to legal suppliers which may or may not exist.

My response was to the implication that gold is somehow tainted by the fact that criminals are apparently involved in its extraction in Columbia. This is of course an absurd proposition.

[pmward]

Once again, all is right with the world, US and China are going to meet...Groundhog Day.

Gold and long Treasuries will be under assault for a while...

"Assault" might be a bit extreme of a term. Both assets are due for a consolidation. This doesn't mean the long term uptrend is in danger for either. As we speak, even though both are having an ugly day, there is still 0 technical damage done to either chart. I don't see any need to provoke fear about both assets right now.

[boglerdude]

I didnt read the article, but increasing non-monetary use of gold might screw with the PP philosophy?

[ochotona]

I keep having purely good luck. Sold my Newmont Goldcorp and SIVR out of my HSA a few days ago, because am moving the HSA, but now prices are down, so I could rebuy at lower levels. Please don't recover before the cash moves over to Fidelity...

[Cortopassi]

I keep having purely good luck. Sold my Newmont Goldcorp and SIVR out of my HSA a few days ago, because am moving the HSA, but now prices are down, so I could rebuy at lower levels. Please don't recover before the cash moves over to Fidelity...

*Could* or will? This was always my dilemma.

[Ad Orientem]

‘Gold is the way to go’ as interest rates fall, says Mark Mobius

Mark Mobius, the founding partner of Mobius Capital Partners, recommends that investors hold 10% of their portfolios in physical gold, and invest the rest in dividend yielding equities.
In the first half of this year, central banks bought 374 metric tons of gold, according to the World Gold Council. That was the largest net increase for the first half of the year since at least 2000.
China’s central has been adding to its gold reserves for eight straight months since December, scooping up another 10 metric tons of the yellow metal in July, according to data from the People’s Bank of China.

From here...
https://www.cnbc.com/2019/09/09/mark-mo ... rates.html