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Re: Forum gossip thread by Biggie Smiles

That Gold I bought keeps going up in price

Started by JOE, March 04, 2024, 05:55:53 PM

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JOE

#120
Quote from: TheProwler on April 02, 2024, 04:54:56 PMFuck, Senile Joe, I lost over $10K in the markets today....it might be time for me to hire you as my investment advisor.

Come to think of it, I probably lost more as I only checked my trading accounts.  I have more invested in a RPP too....

Time to panic?


Really?

Yeah I noticed from the Globe and Mail Businees section markets were falling today.

But gold posted a $30-40 per ounce gain

But I don't gloat T

I bought gold after watching dozens of economic forecasting videos on YouTube last year. They were largely made by people on the Right

Fox News business videos featuring Stuart Varney for example

I try to be very objective and refrain from injecting my own personal biases into anything.

Way I see investing in anything is instead of expecting how much you can gain do a worst case scenario to figure how much you are willing to lose and for how long in case things go south.

That's my attitude with gold too. Last year when I bought at $1900 I figgered if it doesn't go up or it fell say to $1500 I'd be willing to absorb that loss. However it's gone the other way. So I've been lucky.

But that's what economists forecasting last year for 2024.

A big mud puddle. And they were warning about it & to watch out

Lokmar

Silver is making good gains. I'll sell if it hits $50/oz. I dont own enough gold to make any money.

JOE

Anyways T this guy thinks the Stock market could go even higher


But he also seems to warn that it's a very risky time in the markets

JOE

Quote from: Lokmar on April 02, 2024, 09:04:44 PMSilver is making good gains. I'll sell if it hits $50/oz. I dont own enough gold to make any money.

Personally I thinik Silver's real rise will come after Gold has become far too expensive for many to afford L okmeer.

So the buyers'll turn to the next nearest neighbor which many consider to be Silver.

so they'll say, "Heck if Gold's no longer affordeable, let's buy silver instead."

But that's just my hunch.

I think that happened last time in the 1970s

Silver hit around $50 an ounce but then was followed by a precipitious decline.

I think Gold when up to $980 but then fell considerably to $470.

Gotta remember, they're just commodities and could very well follow a similar pattern.

Go up...then go down.

So I suppose the trick is ta buy when they're not too expensive/high so when they fall back, it won't be a loss to the investor/buyer who bought in when it was low.

Gold will reach a peak at some point and then fall back to a sustainable level...I think.

Lokmar

Quote from: JOE on April 02, 2024, 10:41:37 PMPersonally I thinik Silver's real rise will come after Gold has become far too expensive for many to afford L okmeer.

So the buyers'll turn to the next nearest neighbor which many consider to be Silver.

so they'll say, "Heck if Gold's no longer affordeable, let's buy silver instead."

But that's just my hunch.

I think that happened last time in the 1970s

Silver hit around $50 an ounce but then was followed by a precipitious decline.

I think Gold when up to $980 but then fell considerably to $470.

Gotta remember, they're just commodities and could very well follow a similar pattern.

Go up...then go down.

So I suppose the trick is ta buy when they're not too expensive/high so when they fall back, it won't be a loss to the investor/buyer who bought in when it was low.

Gold will reach a peak at some point and then fall back to a sustainable level...I think.

Silver at $50 today would be like silver at $10 back then.

JOE

Quote from: Lokmar on April 02, 2024, 10:49:40 PMSilver at $50 today would be like silver at $10 back then.

This guy thinks Silver will go very $2000 per ounce:

Actually I don't think so.

But it might be good to have 100-200 ounces of silver.

JOE


Lokmar

Quote from: JOE on April 03, 2024, 07:12:45 AMThis guy thinks Silver will go very $2000 per ounce:

Actually I don't think so.

But it might be good to have 100-200 ounces of silver.

It will be about $40 before August and I will sell every silver coin I have.

JOE

Quote from: Lokmar on April 03, 2024, 09:38:12 AMIt will be about $40 before August and I will sell every silver coin I have.

Why would you sell if it continues to go up L okmeer?!?

Lokmar

Quote from: JOE on April 03, 2024, 10:43:11 AMWhy would you sell if it continues to go up L okmeer?!?
because it will come back down.

JOE

Quote from: Lokmar on April 03, 2024, 11:33:23 AMbecause it will come back down.

How much silver do you have?

I got 25 oz of bullion and about 35-40 oz collector silver

But I'd like to get maybe 75 more oz bullion

Lokmar

Quote from: JOE on April 03, 2024, 11:43:37 AMHow much silver do you have?

I got 25 oz of bullion and about 35-40 oz collector silver

But I'd like to get maybe 75 more oz bullion

A bit less than 100 coins....I think about 80.
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Lokmar

I've got 2 of those 2021 Peace Dollars. I broke my own rule by not dumping them for bullion. I still might do it.
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JOE

Yknow L okmeer - there is no better precious metal.

Gold is not better than silver &
Silver is not better than Gold.

They work in tandem with one another.

I see Gold as yer Fort Knox/ Central Bank

And

Silver as yer neighborhood bank


In other words they don't exist independently of each other.

While Gold is useful as a large store of wealth...

Silver is whatcha would use to transact and buy things with.

Likewise you have a Central Bank like the US Fed...

...but they still need regular banks to interface with the average consumer. Ie car house loans paying bill etc.

Where I see silver is spending money.

Other words you save in gold but buy and sell the silver or buy things with it.

So you dont have touch the gold unless you have to. Use the silver instead unless its for very large purchases.

Stories in Venezuela where population was or is starving. But the used an ounce of silver to buy a cow. On the other hand they used the gold to buy a house.

So gold and silver are both useful but serve a different purpose. And you can buy sell or exchange gold and silver for each other.

Lokmar

Quote from: JOE on April 03, 2024, 03:20:15 PMYknow L okmeer - there is no better precious metal.

Gold is not better than silver &
Silver is not better than Gold.


My gamble is that gold should be priced at about 60x what silver is based on the theory that the silver market is heavily manipulated. Right now, gold is 87X the price of silver. If I'm right, the ship will right itself eventually making silver a better investment.