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

 

[OBN]

Yes many say we should of, if we could of type thing.
Then again it could be $800 today also.

I've sold many times and I've got $9K back in 2007, today it would be $83K.q

Do I dwell on it, heck no. It oaid for a 3.5 months in Florida.
Where I got to detect.😁

So it was 👍 👌

Got to love beach detecting, a hobby that does pays for itself.

Krazy I had a distant family friend that hunted back in the late 80s into the early 90s. They really cleaned up, so he sold all his gold in 93 when he retired, moved to Florida got a boat. Can't remember the exact number but it was around 90 grand, can't imagine how much that would bring today.. WoW!

Sad is he got nailed by the IRS a few years later..

 

[beepbleep]

You might be waiting a while. That fear isn't going anywhere any time soon, and neither is inflation.

Down again today. I'm taking that chance. I doubled the stack last time it tanked.

 

[beepbleep]

One thing about gold, its a long term investment .. I remember my first gold ring in 2008, gold was 1300.? Then 2012 it hit 1800 and I sold everything. Here 2025 and its 3200+, should of held I guess. 🤔

Gauley Bridge W.Va. close to my old home 52 to 64. Brownsville.

I remember ordering my class ring in 1979. HOW MUCH OMG When it came in the price had doubled.

I kayaked right by there yesterday.

 

[Sand Swinger]

I remember ordering my class ring in 1979. HOW MUCH OMG When it came in the price had doubled.

I graduated in 1975, and I remember my ring costing $75, lol. Several years ago, I found a high school ring and was able to return it to the girl who lost it. If I recall, I think her mom told me that the ring cost her $300. But that was for a girl's smaller ring, I'm sure it probably would have been more expensive for a larger men's ring.

 

[beepbleep]

I graduated in 1975, and I remember my ring costing $75, lol. Several years ago, I found a high school ring and was able to return it to the girl who lost it. If I recall, I think her mom told me that the ring cost her $300. But that was for a girl's smaller ring, I'm sure it probably would have been more expensive for a larger men's ring.

Yep, more than doubled and then fell like a rock to a third of what it was. Anyone thinking gold doesn't go down is naive and uninformed.

 

[robertk]

Anyone thinking gold doesn't go down is naive and uninformed

For sure it has its ups and downs, but overall it’s a mirror of the declining value of the currency. Here’s how it fared since 1900…

 

[beepbleep]

Look at how long it was at $3000 before jumping. Just a blink as tariff fears set in and countries around the globe started buying as much as they could. This current price is unrealistic driven by panic buying. I think as soon as the fears are over we may see $2800 again. It was below $3000 as recently as April 2025.

 

[Sand Swinger]

Yep, more than doubled and then fell like a rock to a third of what it was. Anyone thinking gold doesn't go down is naive and uninformed.

Gold may go up and down based on market conditions, supply & demand, typical market forces, and even through manipulation, but I'm pretty sure it's never crashed and gone to 0. If you have stock and it crashes and gets wiped out, that's it, you don't get it back. If the value of your 401K crashes and drops 50%, or maybe even if it gets totally wiped out, that's it, your money is gone. But if gold drops, even if it drops substantially, you just hold on to it and it will recover, the value will rise once again. Gold & Silver are God's money; they've always held value and have always been desired and highly sought after all throughout the history of man. After all, we've all heard of "Gold Fever". But I've never heard of "401K Fever", lol.

 

[beepbleep]

Look at what it was in early Jan of this year. It was in the low $2600's. This six month sugar high isn't going to last. Just look at the slashed premiums the bullion dealers are currently offering. "Man, if we can sell at these prices, f-bomb the premiums."

Furthermore, I'm not trusting anyone to hold my gold but me. I've seen too many of those stories where the safe holding of your gold at a trusted vault disappeared or never even showed up. No thanks.

 

[AU Seeker]

No... do tell ..
What is GATA ?

Gold Anti Trust Act .

Actually it's "Gold Anti Trust Action Committee" not an "Act"...

"The "Gold Anti-Trust Action Committee" (GATA) is a non-profit organization focused on exposing and opposing alleged manipulation of the gold market. GATA believes that central banks and other financial institutions collude to suppress the price of gold. They advocate for transparency and free markets in the gold industry, and have been involved in legal actions related to gold price manipulation"

Gold Anti-Trust Action Committee | Exposing the long-term manipulation of the gold market

www.gata.org

 

[Sand Swinger]

Look at what it was in early Jan of this year. It was in the low $2600's. This six month sugar high isn't going to last. Just look at the slashed premiums the bullion dealers are currently offering. "Man, if we can sell at these prices, f-bomb the premiums."

Our current "sugar high" may fluctuate on a daily basis, but the true value of gold & silver hasn't even come close to being realized. When Bitcoin first came out, if I recall, it was around a penny or a few cents. Who ever thought it would rise to $100K? And that's for something that doesn't even exist in physical form, it's all invisible air. I still don't know what the heck a Bitcoin is, lol. If I can't hold it, touch it, see it, then my confidence is pretty much 0. But I can hold gold & silver, I can see it, touch it, and find it when detecting.

I vividly remember back when PCs were first coming out, when Bill Gates specifically said that we would never need more than 640K memory, as that was back in the days of floppy disks. I'm building a new PC, and I'll have 64GB's of RAM in that one, so how did Bill Gate's prediction work out? And he's the PC expert, the father of Windows and an early pioneer of the PC.

Furthermore, I'm not trusting anyone to hold my gold but me. I've seen too many of those stories where the safe holding of your gold at a trusted vault disappeared or never even showed up. No thanks.

I can respect that but depending on how much gold/silver a person has, it becomes more and more risky trying to keep in their house. If the wrong person gets wind that you have all that in your house, you better be prepared for a potential home invasion. I have mine in 2 different depositories in different states. I have legal documents of ownership, can get pictures of my metals if I request, and I can actually go and visit the depositories, take a tour and they'll show me my gold/silver, so I can see for myself. I trust a well-respected, guarded, secure and insured depository a lot more than trying to figure out where I'd store all that in my house.

 

[TORRERO]

Our current "sugar high" may fluctuate on a daily basis, but the true value of gold & silver hasn't even come close to being realized. When Bitcoin first came out, if I recall, it was around a penny or a few cents. Who ever thought it would rise to $100K? And that's for something that doesn't even exist in physical form, it's all invisible air. I still don't know what the heck a Bitcoin is, lol. If I can't hold it, touch it, see it, then my confidence is pretty much 0. But I can hold gold & silver, I can see it, touch it, and find it when detecting.

I vividly remember back when PCs were first coming out, when Bill Gates specifically said that we would never need more than 640K memory, as that was back in the days of floppy disks. I'm building a new PC, and I'll have 64GB's of RAM in that one, so how did Bill Gate's prediction work out? And he's the PC expert, the father of Windows and an early pioneer of the PC.


I can respect that but depending on how much gold/silver a person has, it becomes more and more risky trying to keep in their house. If the wrong person gets wind that you have all that in your house, you better be prepared for a potential home invasion. I have mine in 2 different depositories in different states. I have legal documents of ownership, can get pictures of my metals if I request, and I can actually go and visit the depositories, take a tour and they'll show me my gold/silver, so I can see for myself. I trust a well-respected, guarded, secure and insured depository a lot more than trying to figure out where I'd store all that in my house.

Just wondering, how old are you and what is your plan to do with all your gold/silver ?

 

[Sand Swinger]

Just wondering, how old are you and what is your plan to do with all your gold/silver ?

I'll be 68 next month, so rolling my 401K's over to gold/silver was a retirement play, as I'm old enough to be able to take disbursements of my gold/silver anytime I want. But I'm not planning on doing that anytime soon as the gold/silver markets are getting ready to explode. Watch silver. It's getting very close to $38/oz, and once it hits $38/oz, it's going to take off like a rocket. When I did my first 401K roll over, the strike price for the silver I bought was at $19/oz, so it's almost doubled, But I think that's nothing compared to the potential and where silver will be heading. The next year or two will be very interesting.

In my case, I've never really trusted the stock market, and with most companies 401K's, they'll typically put all the money you invest into stocks. During the financial turndown around 2008 - 2010 timeframe, I had moved the $ in my 401K at that time from stocks over to bonds when I started losing $, as they were much safer than stocks. I heard horror stories back then of people losing 50% of the value of their 401K's. Some lost even more, and some people lost everything they had saved for retirement. Luckily, I only lost about $1,600 during the financial downturn, because I quickly moved my $ from stocks over to bonds as soon as I started seeing the value drop and heard about others losing their shirts.

I didn't know about precious metals back then, the only choices I was aware of with a 401K was to put it either in stocks, or they may have offered just a couple bonds you could invest in. It's interesting, 401K's never seem to offer people the option of investing in precious metals, which have always been a safe bet, they always want to tie you into stocks or sometimes bonds.

 

[beepbleep]

Our current "sugar high" may fluctuate on a daily basis, but the true value of gold & silver hasn't even come close to being realized. When Bitcoin first came out, if I recall, it was around a penny or a few cents. Who ever thought it would rise to $100K? And that's for something that doesn't even exist in physical form, it's all invisible air. I still don't know what the heck a Bitcoin is, lol. If I can't hold it, touch it, see it, then my confidence is pretty much 0. But I can hold gold & silver, I can see it, touch it, and find it when detecting.

I vividly remember back when PCs were first coming out, when Bill Gates specifically said that we would never need more than 640K memory, as that was back in the days of floppy disks. I'm building a new PC, and I'll have 64GB's of RAM in that one, so how did Bill Gate's prediction work out? And he's the PC expert, the father of Windows and an early pioneer of the PC.


I can respect that but depending on how much gold/silver a person has, it becomes more and more risky trying to keep in their house. If the wrong person gets wind that you have all that in your house, you better be prepared for a potential home invasion. I have mine in 2 different depositories in different states. I have legal documents of ownership, can get pictures of my metals if I request, and I can actually go and visit the depositories, take a tour and they'll show me my gold/silver, so I can see for myself. I trust a well-respected, guarded, secure and insured depository a lot more than trying to figure out where I'd store all that in my house.

You store it in a safe. Unless you are a multi-billionaire your bricks of gold stack will easily fit. You won't have to pay annual member fees, fees based on your deposit amount, or inspection fees. You certainly have more trust in them than I. All of those people defrauded sounds just like your story. They were all so reassured their gold was in good hands. So you've been there to see your gold, unannounced. Or do they need to a day or two to "prepare" for your visit.

 

[Johnnybravo300]

The price is crazy. Crazy cheap!

 

[Sand Swinger]

You store it in a safe. Unless you are a multi-billionaire your bricks of gold stack will easily fit. You won't have to pay annual member fees, fees based on your deposit amount, or inspection fees. You certainly have more trust in them than I. All of those people defrauded sounds just like your story. They were all so reassured their gold was in good hands. So you've been there to see your gold, unannounced. Or do they need to a day or two to "prepare" for your visit.

I guess this is a case of you do you and I'll do me. I haven't heard any of the horror stories that you mentioned. If things like that were happening frequently and people were somehow getting swindled, the word would get out quickly, lots of people would start raising hell, and that depository would quickly go out of business and would need to lawyer up to prepare to explain in court after all the lawsuits they would face. But the bottom line is, they would be out of business really quick.

Yeah, if a person wants to store at home, a safe would be mandatory. But no matter how large the safe in your house, it would be nowhere in the same universe of security as the large professional vault doors in a depository, like banks have but bigger and better.

But lemme' ask you. Let's say you have a lot of gold/silver stashed in your house in your safe. And let's say that the word somehow gets out that you're stashing all this at home. No matter how tight lipped you are, word seems to always find a way to get to people that you definitely don't want to know. For instance, I heard a story where a guy who worked for a safe company got arrested. He was the guy who delivered and set up the safes for the customers. The customer may not have ever told anyone he had a safe, but the guy who delivered and set up the safe knew. And he got arrested because he was selling this information to some nefarious people, so they knew who had safes in their home, along with their address. Talk about a horror story.

So, you're sitting in your home, watching TV, and a crew of several guys comes crashing through your front door with weapons ready. They grab you, or your wife, or your kids, or whoever is in the house, and tell you that if you don't open up your safe in the next 60 seconds, it's gonna get ugly. So, what do you do? After you have your "Code Brown", I bet you cough up the combination to your safe, and in just moments, whatever you held in that safe is no longer yours. Hopefully, they'll let you keep your life, but your gold & silver would be gone in a flash. Gold & Silver are magnets for people with very bad intent.

So, by all means, keep your gold/silver in your home safe. And I'll keep mine at a private Fort Knox loaded with security cameras, armed guards, and all sorts of other security measures that we're not even aware of.

 

[Johnnybravo300]

A private vault, a safe, 35 acres and a backhoe, whatever works for your situation.

 

[LawrencetheMDer]

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"

My 2016 F150 needed a new catalytic converter at $1,600. I insisted that I get the old part so I could sell to junk yard for the Platinum.. I am adding about 50 lbs of lead (fishing weights from MDing). Every little bit helps.
Sold $7,000 in gold earlier this year and gave 3 Nieces and Nephews about $5,000 in gold each to submit to Midwest Refineries for cash. Who knows what might happen in the future and as we get older - better to distribute your wealth now under YOUR terms.

 

[Sand Swinger]

My 2016 F150 needed a new catalytic converter at $1,600. I insisted that I get the old part so I could sell to junk yard for the Platinum..

I have a 2019 F-150, guess it's just a matter of time until I need a new one as well.

 

[Johnnybravo300]

Reminds me when i was a kid and we had a recycling center in our neighborhood.
We thought it would be a great idea to put gravel in the beer cans but those guys knew what we were doing.
Instead of getting more cash we got our butte chewed out.