Price of gold is crazy...

[CASPER-2]

$3343 as of 7pm - 6/9
but silver been going up crazy too - $36.92
I sold small handful couple of months ago got like $2600 an oz for gold
and like $28 an oz for silver
Wish i had waited

 

[TORRERO]

$3343 as of 7pm - 6/9
but silver been going up crazy too - $36.92
I sold small handful couple of months ago got like $2600 an oz for gold
and like $28 an oz for silver
Wish i had waited

Sorry.. its been $3000+ for more than a few months.. at least since Trump came in, but I think before that....
Don't feel too bad, I sold some scrap 5 years ago at $1300 oz... now that feels painful 🤣
The more unstable the stock market the more gold will rise in value.

 

[OBN]

Sorry.. its been $3000+ for more than a few months.. at least since Trump came in, but I think before that....
Don't feel too bad, I sold some scrap 5 years ago at $1300 oz... now that feels painful 🤣
The more unstable the stock market the more gold will rise in value.

Yes, I think it was 2600 last Sept/Nov? Been watching carefully..... What will be interesting is if they decide to revalue it, has been some talk of it going to 10 grand or more a ounce. That should shake the metal detecting world. Blessed, I still have 99.9% of what I have found just hope they don't pull a 1933 event. 🏴‍☠️

 

[Paul Revere’s Ghost]

$3343 as of 7pm - 6/9
but silver been going up crazy too - $36.92
I sold small handful couple of months ago got like $2600 an oz for gold
and like $28 an oz for silver
Wish i had waited

Gold and silver stays constant. What you see is the value of the FRN fluctuating (mostly falling) as all fiat currency does before becoming worthless. In 1959 a gallon of gasoline was $.20 cents. Those same two silver dimes will still buy you a gallon of gasoline. We only see the spot price of paper derivatives being traded back and forth between 8 major banks. The true value of the metals won’t be known until the COMEX closes. If you took some profit by selling off don’t feel bad. I dumped ALL of mine for the down payment on my house over 30 years ago. 🥲

 

[TORRERO]

What will be interesting is if they decide to revalue it,

I have never heard this before, Gold is not a currency that one country can manipulate the value of globally ..... Yes .. things we do can affect the price, but we don't CONTROL the price on the global market. The US could pass some kind of legislation that affects Americans, (say like forbidding the sale of personal gold for refining) but it would not affect other countries ... it would affect the price but they can't just go and say "Today we set the price at $10,000"

 

[releventchair]

Yes, I think it was 2600 last Sept/Nov? Been watching carefully..... What will be interesting is if they decide to revalue it, has been some talk of it going to 10 grand or more a ounce. That should shake the metal detecting world. Blessed, I still have 99.9% of what I have found just hope they don't pull a 1933 event. 🏴‍☠️

On the bright side a 33 event wouldn't affect those who know how to create a cache as much.

 

[CASPER-2]

Sorry.. its been $3000+ for more than a few months.. at least since Trump came in, but I think before that....
Don't feel too bad, I sold some scrap 5 years ago at $1300 oz... now that feels painful 🤣
The more unstable the stock market the more gold will rise in value.

When i was a kid i sold some silver and gold in like 1979
i was in high school - gold was just over $300 silver hit $25 (it rocketed from like $7. earlier in
the year) Bought my first 3 piece suit with money and my 1st car
After 2 divorces in the 90s I had to sell again - exs took me for everything.
In 2005 I bought a house and sold to put more down and sold alot more to
furnish it. Ive pretty much sold at end of every year since . Sold alot when it was at $900 an oz

 

[CASPER-2]

I still have a ton of silver coins - especially my rare and oldies = spanish etc
I have like 20 gold rings - most are diamonds my GF wears lot of them

 

[robertk]

I have never heard this before, Gold is not a currency that one country can manipulate the value of globally ..... Yes .. things we do can affect the price, but we don't CONTROL the price on the global market. The US could pass some kind of legislation that affects Americans, (say like forbidding the sale of personal gold for refining) but it would not affect other countries ... it would affect the price but they can't just go and say "Today we set the price at $10,000"

The revaluation of the gold would be an accounting move, designed to make the US asset sheet look better. If you have a million ounces of gold with the value set at $40, your asset sheet shows $40 million. But revalue that gold at $100, and suddenly your asset doubles and then some to $100 million, without you actually having added any assets. It would probably be used as leverage to incur even more debt.

 

[potsherd_creek]

Palladium is 30 X rarer than gold at 1/3 of the price. Used in jewelry, electronics, catalytic converters although does not flatter the same as "Gold"

 

[TORRERO]

The revaluation of the gold would be an accounting move, designed to make the US asset sheet look better. If you have a million ounces of gold with the value set at $40, your asset sheet shows $40 million. But revalue that gold at $100, and suddenly your asset doubles and then some to $100 million, without you actually having added any assets. It would probably be used as leverage to incur even more debt.

makes sense

 

[UnderMiner]

So happy when I was a kid I was obsessed with pirates so naturally had to accumulate silver and gold, which was relatively cheap at the time, little me did older me a big favor 🤣

 

[Paul Revere’s Ghost]

So happy when I was a kid I was obsessed with pirates so naturally had to accumulate silver and gold, which was relatively cheap at the time, little me did older me a big favor 🤣

Some of my friends had paper routs. All the dimes, quarters and half dollars which were common were silver then. All of them. That seemed like a lot of work to me for a little money. On summer vacation I would just walk across the street and dig clams and sell them for .50 cents a quart. I still have a lot of that same coinage.

 

[AstralDruid]

I dabble a little with metals, always physical.... tempted to sell some with recent prices ,, but can't help feeling that the surge in value is telling of something very unsettling, just around the corner, so will not sell... it is a trap !.
It is all manipulated anyway, perceived scarcity etc... the real game is trying to work out 'why now' and what is being implied by the values of metals ..??
Tap the table... keep your hand... not a time for raising bets nor for folding.. let the game unravel a bit more, you can be sure it will all become obvious shortly.. if you are a long termer( like me) then remember why you are in the game !

AD

 

[ARC]

Wow.... i am surprised some of you are so "behind the times".

Metals moved to the forefront of money a few years ago now for MANY reasons.
First and foremost... its a hedge against inflation.

IMO... IT does not really matter when you sell OR sold it... Its all relative... if you need the money .. ya need the money.
Metals has been... and ALWAYS will be WORLD currency.

IF your buying metals OR holding to "make money"... then you would be doing it for the wrong reason.
FOR... it IS money... just in base form.

The only people who really make money on metals are traders who buy and sell constantly and usually by the TON>.

PS....
"In Florida, gold and silver coins have been designated as legal tender, effective July 1, 2026, according to a bill passed by the Florida Senate. This means that gold and silver coins meeting specific purity and marking standards can be used to pay debts. However, acceptance is not mandatory, and the use of gold and silver coins is optional, says the Florida Senate."

 

[pepperj]

Wow.... i am surprised some of you are so "behind the times".

Metals moved to the forefront of money a few years ago now for MANY reasons.
First and foremost... its a hedge against inflation.

IMO... IT does not really matter when you sell OR sold it... Its all relative... if you need the money .. ya need the money.
Metals has been... and ALWAYS will be WORLD currency.

IF your buying metals OR holding to "make money"... then you would be doing it for the wrong reason.
FOR... it IS money... just in base form.

The only people who really make money on metals are traders who buy and sell constantly and usually by the TON>.

I know someone that has 10K troy ounces of silver accumulated over the past 12 yrs. Made $120K value on the PMs over the past 4 yrs.

Just waiting for the ratio between gold/silver to change. Then some of the silver will be turned into gold.

I sold off my silver in 2007 recieved $9K+ today that would be worth $77.5K.
I smiled in 2007, though today I'd be dancing.

 

[ARC]

I know someone that has 10K troy ounces of silver accumulated over the past 12 yrs. Made $120K value on the PMs over the past 4 yrs.

Just waiting for the ratio between gold/silver to change. Then some of the silver will be turned into gold.

I sold off my silver in 2007 recieved $9K+ today that would be worth $77.5K.
I smiled in 2007, though today I'd be dancing.

Its all relative to the buying power of a single dollar Pepper.

When the 20$ gold piece was common currency...
you could walk into a tailor and ask" For the best suit it could buy".
TODAY...
That same gold would buy you... the equivalent in TODAY's suit".

Its all relevant to the times... UNLESS.... UNLESS... that demand outways.
Like when catalytic convertors rose Platinum as an example.

 

[ARC]

I will add this... generally ... when metals rise, the dollar falls... unless production use out ways it.

Silver for one is undervalued... as is Platinum (which is a far rarer metal than Gold and Silver).
Both are now being used more and more in production of so many things... so their value should continue to rise.

 

[pepperj]

Its all relative to the buying power of a single dollar Pepper.

When the 20$ gold piece was common currency...
you could walk into a tailor and ask" For the best suit it could buy".
TODAY...
That same gold would buy you... the equivalent in TODAY's suit".

Its all relevant to the times... UNLESS.... UNLESS... that demand outways.
Like when catalytic convertors rose Platinum as an example.

Price of converters were also driven by Rhodium.

The GSR (GOLD/SILVER RATIO) Is still high and this has changed dramatically over the past 50 yrs.

There's still a lot of analysis that putting silver in the $75 US range within a few yrs.

The link explains the timeline of GSR.

A Historical Guide to the Gold-Silver Ratio

Understand the gold-silver ratio history, its historical fluctuations, and how it influences current investment decisions in precious metals.

kinesis.money

 

[AstralDruid]

The way you interpret the market is key to your success...
If you want to make some $$$ then sell, and you have achieved your goal,, especially if you need a cash injection. Success.✅
If you are holding for any other reason, then resist the high prices, the long term will see you happy... ✅ success..

My own personal project involves waiting until you can use your accumulated metals to purchase land. I wouldn't part with any for a car or watch or a holiday, but that is my thought system..
In my opinion, Gold vs FIAT currency,, well.... the price of gold is indeed a sign of currency losing value, but it is not the cause of the monetary devaluation, it merely reflects it.. no need to attach any guilt or responsibility to metal ownership !! So selling your stock of increasing value (metals) to buy into a decreasing value currency is a pretty dumb move... unless absolutely necessary.
The rising price is the way of removing the gold from the average Joe, and passing it into the hands of the elite of this world..

The global shift of power is well underway, it is long planned.... and will have a few twists and turns along the way but the shift eastwards is happening. We here in the west are witnessing the the last round of bets in a loaded game,, and you can be sure that under the table there are a few pistols already drawn...

AD