market tanking, metals remaining a little stable

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Not to fall on the edge of conspiracy about markets and stuff - probably yes. Certainly in Europe, there are difficult times on the horizon.
I also expected the PMs to rise significantly, but they didn´t even level the inflation, which is whooping 14% now here... So to say, PMs aren´t considered as value-holders anymore for markets.

At least I expected gold to rise, but obviously big guys think differently :) other metals such as silver or palladium, which are industrially used from great part, that could be rationalized as you say it.
 
As long as people allow the big guys to push us around they will keep them low. Not a good thing for the prices to shoot up before they own it all.

Done worry, you’ll own nothing and be happy.
 
So, in my humble opinion. It’s all about US$ strength. The US$ index is about 110 right now, that’s strong. It’s based mostly on Euro weakness.
Last time US$ index was 110, was in 2002, gold was $300.
Index went down to 75 ish by 2010, gold hit a high of $2000...
Imagine where it could go if that same index corrects again, when it starts at the $1700 point...
 
The market dropped 3% yesterday. Given the amount of paper gold in comparison to physical, I'm surprised gold only really dropped ~1%.
 
I have noticed a cycle of metals remaining particularly low, and remaining low for a while, then dramatically shooting up. I believe this cycle occurs for the simple reason that if there is a lot of cash sitting around, and savvy people buying metals with that excess cash, when inflation hits, the people with the metals investment will become instantly uber wealthy. To keep the average metals investor stay within the middle class, the economy will get so difficult that the metals investor will be forced to sell their metals first to maintain their comfy lifestyle. What do you get for your Gold and Silver? Dollars. Now the government can print more money, since they have to hold I believe a 30% holding in Gold, to be able to print more money, at a new rate adjusted for inflation.I have seen this cycle happen about every 15 years. Remember the old days when you had to sell to the government in exchange for dollars. That was the Gold standard. When we went off the Gold standard, the government outlawed owning Gold, and they actually would confiscate it, if it wasn't in a certain form. Today, I believe confiscating Gold , by the government, would probably start a revolution. So to avoid a revolution, they just manipulate the monetary system where the economy gets tough, people are forced to sell their liquid assets ( PM's ) first, government prints more money, repeat same thing in about 15 years. Keeps our dollar strong, and economy going. You just need to figure out their system. It keeps the socio/economic balance in check. With the exception of the big families who control and make the rules for the others.
On another note, this is analogous to Bitcoin. Invest in it, you can't lose. It will keep growing until one day, it will just disappear. And who is accountable? Who knows, the inventor is still anonymous. People's money just disappears, but the dollar will remain strong. It reminds me of the SouthPark episode when I think Cartman, starts a bank account, the banker states he has $100 in his account, and, it's gone!
This is how the US economy works. The government takes your stuff, but it is good for all the people.
 
The one thing I see is that many national central banks are or have been buying metals and if anybody is in the know it’s them , so why is the price not rising dramatically, well I suppose if you can print paper and swap it for gold and keep the price suppressed at the same time it’s a good ponzi scheme , what happens when and if all those holding bits of paper saying they own 100 ounces of gold ask for physical metal, now that could get messy very very fast.
 
How low will it go?

Support is at 1550.

I could turn it around right now and make it jump $50, all I'd have to do is go sell. So instead, I expect it to go to 1550.
 
Hartbar said:
So, in my humble opinion. It’s all about US$ strength. The US$ index is about 110 right now, that’s strong. It’s based mostly on Euro weakness.
Last time US$ index was 110, was in 2002, gold was $300.
Index went down to 75 ish by 2010, gold hit a high of $2000...
Imagine where it could go if that same index corrects again, when it starts at the $1700 point...
Click to expand...
You are correct the recent strength in the US dollar and some reason fear is responsible for the weakness in gold and silver.
 
snoman701 said:
So you've only been talking to bullion dealers for four years?
Click to expand...
Thats not what I hear Ohiogoldfever saying - he doesn't say anything about talking to bullion dealers

Rather - for about the last 4 years - he (Ohiogoldfever) said --- he has been listening to billion dealers

I assume Ohiogoldfever is talking about the (many) bullion dealer adds we see on TV everyday !!!

Well - I have been listening - to all those same bullion dealers as well (& it's been more then 4 years)

And what have they been saying ------------

Buy it (gold & silver) NOW - because it is going to EXPLODE at anytime now (that is said in the context of - "in the VERY near future") --- as in within few months &/or end of THIS year (for 4 years or MORE now)

And what is/has been their selling point projections -----

Buy it NOW - because anytime NOW the price of -------

Gold is going to EXPLODE to $2,500 - $3,000

Silver is going to EXPLODE to $120 - $200

Like Ohiogoldfever - I am still waiting for that EXPLOSION - that I have been listening to for 4 or more years now

Kurt
 
I’m old enough to have traded gold when market was about 265/oz. Generally, I notice the advertising is prevalent when market is up. I don’t see these big vendors of bullion pushing to sell you their gold/silver when the market is down. I don’t think I could outsmart them. For what it’s worth.

V/R
Timothy Psaledakis
 
Flying Farmer said:
I’m old enough to have traded gold when market was about 265/oz. Generally, I notice the advertising is prevalent when market is up. I don’t see these big vendors of bullion pushing to sell you their gold/silver when the market is down. I don’t think I could outsmart them. For what it’s worth.

V/R
Timothy Psaledakis
Click to expand...
And 4.00 silver
 
Hartbar said:
https://www.kitco.com/news/2022-09-...-in-the-double-digits-Matthew-Piepenburg.html
Click to expand...

Now lets talk real world

Two years ago (Trump admin.) I was making $19/hour & was able to put a few dollars in my savings every month ($100 - $150 per month)

About a year ago (Biden admin.) I was given a $3 raise to $22/hour which is (about) a 16% raise

The narrative is that we are seeing only (about) an 8% inflation rate

However - even with a 16% increase in my hourly wage - not only am I NOT able to put a few dollars in my savings every month - some months - I have to actually take a few dollars OUT of my savings

AND - that is not the end of the story - because as a matter of FACT 2 years ago I was able to buy MORE with my $19/hour paycheck ---

Back then - I was able to buy a ribeye steak at least once a week (sometimes twice a week) I bought 2 new guns - thousands of rounds of ammo - hunting/fishing/camping gear & spent most every weekend driving the back roads of the national forest I live in

Now - on a $22/hour paycheck - I am lucky to afford a ribeye steak once a month - can't afford to buy a new gun - more ammo &/or hunting/fishing/camping gear & can only afford to do those back road drives once or twice a month

To top that off (currently) I am watching the value of my gold & silver stash go down - rather then up

That is the FACTS concern the real world of my paycheck to paycheck life - as seen through the eyes of my paycheck to paycheck bank account

In THAT real world accounting - not only is the rate of inflation greater then the 8% they make claim to - but in FACT it is greater then the 16% of my recent pay raise

Thankfully - I do happen to have one other source of income (which is kept separate from my paycheck to paycheck accounting)

I happen to own some mineral rights in North Dakota - so I get paid a royalty on every barrel of oil/gas pumped out of the ground (or like I tell my friends - while you are paying more at the pump - I get paid more at the pump) ;)

My ND mineral holdings are actually very small - so when I factor those in with my paycheck to paycheck it is keeping me just a bit ahead of current inflation - which I have just shown (at least in my real world) to be greater the 16%

Bottom line - if I had to live entirely on my paycheck to paycheck income (with a 16% increase in that check) I would be living on a slow but sure sinking ship

So (IMO) the words - under the numbers bottom line - is one big fat LIE --- the biggest LIE (words) under the numbers bottom line is the promise to --- "Build Back Better" ?!?!?!?!

So I MUST ask - "Build Back Better" for who ??? --- Certainly NOT for the common working man !!!

Kurt
 

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