So with the current affirmations in US politics, what is the prediction for our accumulated precious metals? Hold ‘em or fold ‘em????
Gold predictions????
- Thread starter 4metals
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With regards to gold I don't think the US political landscape alone is the price driver. It appears to be the worldwide situation and uncertainty we are living with. A calmer world with less wars would probably not help the price.
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I must admit, I wish I had managed to get my last set of acquisitions processed and sold last week.
My trading desk has an accounting day on Friday, so I won't have my reimbursement until Monday's market opens.
Much like as sky jump with all your liquid assets, I hope it does not drop too much over the weekend.
My trading desk has an accounting day on Friday, so I won't have my reimbursement until Monday's market opens.
Much like as sky jump with all your liquid assets, I hope it does not drop too much over the weekend.
As a holder of the shiny metal, and one versed in recovering and refining it, (as many here are as well) I like it when the prices rise and remain high. But at the same time if wars are what it takes to drive that rise, is it worth it? At the same time if the worldwide outlook is declining, it is better In my humble opinion, to be holding physical metal.
My opinion of holding physical metal is predicated on it being owned outright and used speculatively. When running a refining business, speculation can be dangerous.
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My main finical holding is a half built property development I have been trying to rase enough funds to finish for over a decade.
I have a "Float" that is enough for me to pay clients as long as I keep turning it over quickly, it is unfortunately insufficient for speculative holding.
Recently I have increased the size of the lots I run, which has made my life easier as I no longer have to process material every day.
Unfortunately, the longer interval between acquisition and liquidation has left me open to adverse market fluctuations such as this.
Let us hope for a Raleigh as people bunker down.
There were no fundamental changes in the market yesterday. People pulled money out of holding in precious metals to put it in the rally on wall street, that caused the price to go down. DJI and S&P today are mostly steady, and commodities are rising.
This market is pricing so far in the future, it's hard to keep track, but if people paid attention the first four years of this administration, there were minimal fundamental changes to fiscal policy and a ton of chaos, and it's hard to believe that the next four will be any different.
Agreed. The key words being owned outright. Having gold that was paid for at a price less than half the current price (and in cases like yours probably 1/10th) leaves a lot of room for speculation over time. A 10% downward movement wouldn't be an earth shattering issue.
Yeah, I guess I am that old!
No, but I do have some silver from that far back. Gold is a recent thing for me.
I've got silver from the $2.50 range of the early '70's. I have always managed to make a decent living teaching folks how to refine that I never had to dip into the profits I made from refining on my own. I just sold what I had to in order to pay for the material and kept the rest.
I shouldn't say that, actually in the late '70's I sold all of my Silver when the Hunt Brothers tried to corner the Silver market they ran it up from about $6 to $40 and I cashed in close to the end. Bought it all back when it dropped to $16 and added it back to the pile.
I shouldn't say that, actually in the late '70's I sold all of my Silver when the Hunt Brothers tried to corner the Silver market they ran it up from about $6 to $40 and I cashed in close to the end. Bought it all back when it dropped to $16 and added it back to the pile.
I did nearly the same back then. I did keep quite a bit of the art bar stuff just because I liked looking at them. I started buying silver bars back in the late 60's and early 70's for those art bars. I sold about 2500 of them off the day before the crash. Shortly there after I started back buying them again. For kid still in high school, I felt like a king with that much cash.
