Gold and Silver

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Interesting:

Gold Forecast – Prices Could Soon Signal a Historic Breakout (fxempire.com)

Gold is very close to a historic breakout and sub-$2000 prices will be a distant memory. Gold miners are undervalued and could be the best performing asset in 2024

But, as always, be highly suspect of the claims made by someone who has something to gain from convincing you to part with your money.

In their favor the predictions on October 20, 2023 seem to be close:

GOLD DAILY: The final washout I warned investors about ended quickly, and prices are back above the downtrend line. Gold could consolidate around $2000 for a few days, but a breakout above $2090 is becoming increasingly likely before year-end.

…

SILVER DAILY: The final washout in precious metals triggered a false breakdown in silver below the 1-year trendline. Prices have recovered, and we expect a bullish breakout above $26.00 before year-end.

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8 thoughts on “Gold and Silver”

  1. Yeah. you do need to be careful when people giving you the news want to sell you something. Every fiat currency ever made by man has failed. ALL OF THEM. Silver and Gold have a history of being money that is older than the pyramids. By the way did you buy the vax. sold to you by the people that bring you the “news”.?

  2. Gold and silver are just a commodity hedge against inflation. So, an OZ. of gold is always an OZ. of gold.
    It just takes 2,000 of something to buy it rather than the 30 it use to 150 years ago.
    The other thing is that being a commodity. It hasn’t been overlooked by the big boyz any more than oil has. And the price is being manufactured and controlled the same. Use to be gold was locked up by certain companies with 10 year price contracts to the mines.
    A dollar in hand/price guarantee type logic being applied. And much of the market price was through gold stocks and gold leasing programs, controlled/manipulated in London.
    Mining is totally at the mercy of machinery. So, watch CAT and other stocks of super heavy equipment suppliers to see if they are doing a land office business. That can signal big growth.
    Sales of 350 ton haul-packs, dozers, drills, and such with maintenance parts are indicators of mining trying to take advantage of price growth. By upping production above contract levels.
    It’s all good. But remember, you’ll sale me an OZ. of gold for a canteen of water if your dying of thirst in the desert.
    And in the Russian/Afgan war in the 80’s. One 308 round was $3.50.
    Supply and demand are ironclad. And always will be.

  3. I learned early on that most people telling you to buy gold and silver are doing it because they want your dollars. People have been saying for a many years that fiat currency is going to collapse and that money is worthless, etc. It’s the same old song and dance. I don’t listen to these fear mongers.

    Also the mark up on gold silver is stupid. At minimum 25% if not 40% over spot at most places. The only return on investment you will get is because of inflation decades down the line or if they’re doomsday scenario of the collapse of civilization fiat currency happens. Ammo will be more precious at that point. however an ounce of silver will always be worth an ounce of silver.

    I actually do buy silver coins on occasion and I have a little bit of gold. However I do it more as a collector. If I feel like it I’ll buy 5 ounces of silver eagles or maple leaves to stack but mostly I just buy things I like. I treat it more as a hobby.

  4. “Yeah. you do need to be careful when people giving you the news want to sell you something.”

    Especially the snake oil sales people hawking voting investments in the Biden administration on the nightly propaganda broadcast.

    But, by now, we already knew that…..

  5. The point of metals isn’t investment performance. That can be good or bad but is always speculative. The point is insurance against something really bad happening.

    • That is the question. How much insurance should you buy? How do you value the need, how do you value the risk?

      • Enough so that the situation can stabilize or I am dead anyway. Metals aren’t the only insurance but they are useful for some scenarios. Food, ammo, secure water supplies, meds, independent power are also important.

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