I'll Sell When Gold Hits $1750

Gold is now $4200 per oz., and silver is $50 per oz.!

 

So my question is, is gold value increasing, or is the dollars value decreasing?
I suspect both.

 

Euro value is decreasing, dollar value is decreasing. I think the answer is both, but I’d say the value of fiat currency (all of them) is driving it.
Demand side components such as state purchases (China/India) as also working to raise gold prices.

 

For most of America's existence the value of an ounce of gold was $20, as in the $20 Gold Piece, that should tell you how worthless other forms of money are. 3/4 ounce of silver was equal to $1, or a Silver Dollar, which is now worth $38.

 

It doesn't make sense. Silver shot up and everyone has lots of inventory.
It's got to be factors unrelated to demand.
Everyone was sold out in 2020, no one had any inventory and the price went up maybe 50%.
The price surged up nearly 50% during a time when demand in the US at least is normally down.

 

I'll call apmex first thing Monday morning and see if they're buying and what strings are attached, 1099, ect.

 

I've bought all I plan to for the moment. I'm currently ahead of my projected buying plan, and with silver at $57 per oz. and gold at $4200 per oz., I'll be on the sidelines till next year.

 

I'll buy
Back in when something gets cheap.

 

I'm just hoping that silver isn't $65 per oz. and gold isn't $5000 per oz. when I'm in the mood to buy again!

 

The thing with silver is it gets dumped onto the market as a by product of copper production. So when the economy is doing well and copper demand is high, silver demand is low more silver gets dumped on to the market faster.
When the economy is in the toilet, copper output is down, silver output is also down and the silver price soars.
Gold output is very seasonal. Wait till April when gold mining up north opens back up and an avalanche of gold hits. At $5,000 an ounce everyone with a gold mine is going to be mining, probably a lot of illegal mining going on at that price too.
I'm investing in primers. They're practically paying us to take them.

 

A good watch if you invest to hold wealth

 

Well all the platinum is gone.
Hopefully it will come back as silver some day soon at a ratio of about 1 to 60.
Or come back again as platinum at about 1 to 2 ratio.
The ruthenium price crashed out at like $400 an ounce. I missed that one, just forgot to check prices for several months.
I'll keep an eye on gold, silver, platinum, palladium, rhodium, ruthenium, iridium.

 

Gold seems to be holding steady at $4200/oz., but silver prices are exploding, up to $63/oz.! According to my limited research, silver prices are being driven by industrial demand, especially in the energy and tech sectors.
Correction, Gold is headed for $4300/oz.

 

I just checked it 1st time in 2 weeks and I just about $hit my drawers ,, ,,,, over 64 bucks an ounce,, that's great for the silver I have ,, but not good for the silver I want ,,,,

 

Silver is going to need to stay this high for a while before your local coin store is going to be willing to pay you anywhere close to spot to sell it if you need to convert it to cash.

Don't even think about selling junk silver or sterling. Refiners don't want it currently.
they are offering more than 5 dollars back of melt. But LCS you might be able to get junk at less than melt as well.

 

Yeah, I understand that a lot of buyers aren't willing to buy and hold on to a lot of silver and gold at these prices. Any that do buy will be on the phone and have it sold before you reach the car. It's like the game of Musical Chairs; you don't want to be the one standing there with a bag of silver or gold when the music stops.

 

Yeah, I bought 21 oz. of silver from a woman at work about a month ago when silver was "only" $50/oz. and was a little worried that I had paid too much. I never dreamed that it would go this high. I have no intention of selling it, it's part of my preps. I just hope she doesn't think that I took advantage of her.
If the price for silver is being driven by industrial demand, the price could continue to rise as long as the demand is there, and the markets will bear it. Silver and gold prices don't appear to be driven by lack of confidence in the economy, as the economy seems to be doing rather well at the moment with hopes for future improvement. So, this could be a long ride,...or not! So, buckle up, and keep your head and arms inside the vehicle!

 

If this keeps up I predict the paper market (futures) are going to break from the spot market.
Futures were supposed to be a way for manufacturers and consumers to be able to hedge or lock in prices on commodities at a certain date in the future so they could smooth out their profit/costs.
Then traders found it was a great way to turn it into a casino.
You can sell thousands of contracts for a product you don't own nor produce and settle in cash instead of commodity.
Hell, i think there were banks selling millions more ounces of silver than are actually produced annually to get some quick cash. and then close the position later by buying the paper contract back at a cheaper price. If the price keeps going up on silver .. if they are still short on their positions .. they are either going to get liquidated or have to come up with the millions of ounces of silver or a metric shitton of cash to cover.
Meanwhile .. if you need to get a couple thousand ounces of silver for your latest greatest high tech project ... you are paying out the nose to obtain it.
Yep, it's going to break sooner or later.

 

I sold a hundred ounces for $51 and change. Need to sell more.

 

Silver is already $65/oz. and rising...