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Gold breakout - Page 2
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Thread: Gold breakout

  1. #11
    Join Date
    Feb 2011
    Location
    Treasure Valley, Idaho
    Posts
    849

    Default

    Quote Originally Posted by silverheartbone View Post
    Nope. Still totally controlled. No kind of free market would move that sharply then stop on a dime.
    50-50 chance that the kitco.com silver spot chart posts some sub $17 trades next week and if I had to make an even money bet, I'd say yes sub 17 silver spot in the near future.
    I think the bull is back. GSR 84 as I write this. Was 93 in July. Also the gold to platinum ratio is at all time lows. I bought 5 RCM 100'S in July and traded them back for low premium AGE's a couple of weeks later. And now gold has soar ever further, so I took one of those AGE's and traded it for 1 and a half platinum eagles and 5 silver kangaroos. But now silver rages back.....

    When I was growing up in the 90's local news would report the closing price of PM's. I remember early on in the 90's they would price gold and silver but never platinum. But a couple of years later they also started listing platinum with the PM's and I had notice the platinum spot was higher than gold spot by about 10-25% pretty consistently over the next couple of decades with some whipsaws here and there. But now platinum is at all time lows vs gold.

    I really have to say that I regret trading for a half platinum versus more silver kangaroos. I will be blown away if the GSR gets into 100+. I do think thought its entirely possible it does so but it won't be for very long. I just did the platinum hedge because I do intend to move and physical storage of silver can be quite a task.

    The days of sub $20 ASE's might be gone. I hope not because I want more.....

    I hope JPM has 148 million ounces. Suppress all you want, I buy even more fucktards!

  2. #12
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,569

    Default silver may be catching the draft

    I think the bull is back. GSR 84 as I write this. Was 93 in July.
    I think that you are correct. Right now the SGR is 83, down 10 ounces in less than two months!
    If someone is waiting to trade their loved gold for some undervalued silver, I wouldn't wait much longer.

    Your avatar may be the best looking US coin ever made.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  3. #13
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,569

    Question Is this the end of the cheap silver era?

    Quote Originally Posted by broox419 View Post
    The days of sub $20 ASE's might be gone. I hope not because I want more.....
    I'm in the same boat. My plan was to purchase 12 kilos over the next six months, and now I may not be able to stack that much.
    I've been monitoring those sub $20 ASEs, and the last ones available (to monster box buyers only) went away last Monday.

    That BU Walker makes me want one. I see them available online for about $35. I'll have to visit a LCS or two to see what's available there.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  4. #14
    Join Date
    Feb 2011
    Location
    Treasure Valley, Idaho
    Posts
    849

    Default

    Yeah, heartbone I love my walkers. When I was trading in some gold earlier this year I needed the funds to get my home ready for sale, I saw an MS64 1917 walker and paid about 400 FRN's for it. I can still stack rolls of worn walkers for below spot but it becomes difficult to store them. Also I was in my LCS yesterday and was still able to purchase common date morgan & peace dollars for $17 each with no tax as long as exchanged for paper FRN's. I bought a 1922 peace dollar and 1921 morgan both in relatively good shape. There are still going to be deals out there, they are just going to get harder to come by. Just recently online sellers on ebay and even Provident are starting to charge sales tax unless it's monetized bullion and a purchase of over 1,500 FRN's.

    The American populace (I don't refer to them as people anymore because they are already zombies on their phones), won't buy silver to protect their savings until the spot price is in the upper 20's. That's assuming gold is maintaining $2k. And even if they do it will be a paper product because they are convinced the bogey man will come and steal it in the middle of the night. The rest of the world has caught wind of what will take place as they are already experiencing negative interest rates.

    I do believe there is still a chance the SGR as you put it reaches 120 but it will be very brief. If that takes place I would probably trade half my gold stack for my beloved white metal. But I am currently into platinum too, what I call my own tri-metal standard. I know the premiums are high but it's only because the cost to stamp the metal is far higher than gold or silver. Anyone out there paying attention to Rhodium?

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