TexasAg1969 Posted July 27, 2020 Report Share Posted July 27, 2020 It's anticipating the next round of multi-trillion $ stimulus and the inevitable inflation down the road as the $ plummets. Gold hits record as investors opt for safe haven Jul. 27, 2020 12:42 AM ET|About: SPDR Gold Trust ETF (GLD)|By: Gaurav Batavia, SA News Editor Spot gold (XAUUSD:CUR) +1.7% to $1,934.05 per ounce extends its gains and zooms past its September 2011 high of $1920.30. Gold has been significantly outperforming all other major asset classes, as investors look for safe-haven asset. Spot Silver (XAGUSD:CUR) +5.7% to $24.04 per ounce soars along with the gold at the start of the week. Gold tends to benefit from widespread stimulus measures from central banks because it is widely viewed as a hedge against inflation and currency debasement. The weakening of the dollar against the euro is pushing gold higher, as precious metals are denominated in dollars. EUR/USD up 0.45% to 1.1708. Last Monday, Citi predicted a gold record in the next 6-9 months, which took only a week to hit. It says there's a 30% change of $2K gold in next 3-5 months, but that could hit tomorrow at this pace. Gold ETFs: GLD, IAU, PHYS, SGOL, UGLDF, BAR, UGL, AAAU, GLDM, GLDI, and DGP. Silver ETFs: SLV, AGQ, PSLV, SIVR, ZSL, SLVO, DSLV, DBS, USV Quote Link to comment Share on other sites More sharing options...
Canton Dawg Posted July 27, 2020 Report Share Posted July 27, 2020 Gold is a shitty investment. Quote Link to comment Share on other sites More sharing options...
Kvoethe Posted July 27, 2020 Report Share Posted July 27, 2020 Ive been sitting on 75lbs of silver quarters...might be a good time to sell for melt value. Yes I have picked thru all of them for collectibles and quality coins. These are all circulated coins. 1 Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted July 28, 2020 Author Report Share Posted July 28, 2020 On 7/27/2020 at 11:57 AM, Canton Dawg said: Gold is a shitty investment. Maybe and maybe not. If you go the etf route it is easy to buy and sell like any commodity. Silver is the one that is far more iffy. Remember when the Hunt brothers tried to corner the market but failed to account that people would melt down their silverware when it got near $50/oz.? They got burned badly when that happened. But if it hits $2500 per oz on gold, I'm selling some of the collectibles I put away for a grandson's college education that will likely start 6 years from now. https://www.newsmax.com/finance/markets/gold-price-bofa-citibank/2020/07/28/id/979343/?ns_mail_uid=6d52df85-236f-4a8f-8332-d84fdb5d6ebf&ns_mail_job=DM132954_07282020&s=acs&dkt_nbr=010502buw7s8 Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted July 28, 2020 Report Share Posted July 28, 2020 Gold is more an indicator of consumer panic and fluidity in the market. People tend to freak out other people tend to advertise it on news stations. The market is probably rightly concerned about a Biden win as should we all be who have money invested. WSS Quote Link to comment Share on other sites More sharing options...
Axe Posted July 28, 2020 Report Share Posted July 28, 2020 On 7/27/2020 at 1:02 PM, Kvoethe said: Ive been sitting on 75lbs of silver quarters...might be a good time to sell for melt value. Yes I have picked thru all of them for collectibles and quality coins. These are all circulated coins. I don't know if you know this but 5lbs of quarters is exactly $100 At present I have 14-25lb bags in a safe. Quote Link to comment Share on other sites More sharing options...
Canton Dawg Posted July 28, 2020 Report Share Posted July 28, 2020 1 hour ago, TexasAg1969 said: Maybe and maybe not. If you go the etf route it is easy to buy and sell like any commodity. Silver is the one that is far more iffy. Remember when the Hunt brothers tried to corner the market but failed to account that people would melt down their silverware when it got near $50/oz.? They got burned badly when that happened. But if it hits $2500 per oz on gold, I'm selling some of the collectibles I put away for a grandson's college education that will likely start 6 years from now. https://www.newsmax.com/finance/markets/gold-price-bofa-citibank/2020/07/28/id/979343/?ns_mail_uid=6d52df85-236f-4a8f-8332-d84fdb5d6ebf&ns_mail_job=DM132954_07282020&s=acs&dkt_nbr=010502buw7s8 Silver is up 80% for the year, the bad thing is how long someone must hold on to precious metals before they can capitalize on it? History has shown that stocks typically perform better over time. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted July 28, 2020 Report Share Posted July 28, 2020 1 hour ago, Axe said: I don't know if you know this but 5lbs of quarters is exactly $100 At present I have 14-25lb bags in a safe. How pure are the quarters? WSS Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted July 29, 2020 Author Report Share Posted July 29, 2020 6 hours ago, Canton Dawg said: Silver is up 80% for the year, the bad thing is how long someone must hold on to precious metals before they can capitalize on it? History has shown that stocks typically perform better over time. Very true. What made it a good investment this year was the long term inflationary affects of the economic stimulus packages into the trillions of $. But an etf is something that you can buy & sell quickly making gold/silver easier to jump in and back out. I bought a few NGC rated gold coins when the market was well down from the previous high. There was no reason to sell them with $1tril / year deficits that I knew would eventually drive it back up. I of course did not anticipate the many more trillions added this year which is fueling this now. I originally intended to sell around $1750/oz for a nice 50% profit. Now I'm getting greedy awaiting $2300-2500 range. I'll sell through a broker if it looks like it is about to fizzle out though. Right now that does not seem to be the case. Quote Link to comment Share on other sites More sharing options...
hoorta Posted July 29, 2020 Report Share Posted July 29, 2020 On 7/27/2020 at 12:57 PM, Canton Dawg said: Gold is a shitty investment. Um, should we go into a hyper inflation spiral- and don't count that out- printing a few trillion dollars we don't have. Gold will never be (relatively) worth less than what it is, along with silver, (and diamonds- the Jewish WWII inflation hedge). Platinum has plenty of value- not only in coins- but the commercial industrial value is there too.... Ergo, if you have 1,000% inflation, an ounce of gold will still be worth $20,000 in inflated dollars. Keeping say 10% of your portfolio in precious metals or outright numismatic collectibles is wise- IMHO.... 7 hours ago, TexasAg1969 said: Very true. What made it a good investment this year was the long term inflationary affects of the economic stimulus packages into the trillions of $. But an etf is something that you can buy & sell quickly making gold/silver easier to jump in and back out. I bought a few NGC rated gold coins when the market was well down from the previous high. There was no reason to sell them with $1tril / year deficits that I knew would eventually drive it back up. I of course did not anticipate the many more trillions added this year which is fueling this now. I originally intended to sell around $1750/oz for a nice 50% profit. Now I'm getting greedy awaiting $2300-2500 range. I'll sell through a broker if it looks like it is about to fizzle out though. Right now that does not seem to be the case. I don''t look at it that way Ag- my gold and silver are my last lines of defense if things go totally haywire.... PS- I do have minor positions in both gold and silver ETFs besides.... Quote Link to comment Share on other sites More sharing options...
Canton Dawg Posted July 29, 2020 Report Share Posted July 29, 2020 1 hour ago, hoorta said: Ergo, if you have 1,000% inflation, an ounce of gold will still be worth $20,000 in inflated dollars. Um, just let me know when the U.S. hits a 1000% inflation rate. Quote Link to comment Share on other sites More sharing options...
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