Gold Over The $2K Ceiling

[JohnyMac]

Well now, it looks like gold is solidly over the $2K an ounce ceiling. The selling price has been bouncing up against that ceiling and on occasion, just dipping it's toe in the +$2K waters.

Should be fun to watch as I am reading this morning predictions of gold hitting $2.1K per ounce by the end of the year. I think that is a bit optimistic. Now of course that could change if regional wars in Ukraine or Middle East break out compared to today. If that happens then $2.1K per ounce will be the basement.

I see a correction in the DJIA by year end. We have seen a positive 3,000 point change within the past 30-days. Great time to take profits before the new year. Stay tuned.

    

[Sir John Honeybucket]

I know that YOU know this, but it's no that gold has risen, but instead that the dollars' buying power has dropped so much. A $20 gold piece still only have a FACE VALUE of twenty dollars, but it's BUYING power equils it's ounce of gold. That ounce of gold buys roughly the same value in merchandice, property and etc as one ounce of gold  $20 Dollars did a century ago.  A VERY fine men's suit, Colt's finest handgun and etc.  Now the gold buys that, but twenty paper dollars, barely covers McDOnalds for one.

73 de Sir John Honeybucket

[JohnyMac]

Welll written Sir John. 

[Nemo]

I see a correction in the DJIA by year end. We have seen a positive 3,000 point change within the past 30-days. Great time to take profits before the new year. Stay tuned.

Has DJIA been over 36000 before?

Nemo

https://www.marketwatch.com/investing/index/djia

DJIA Dow Jones Global
Dow Jones Industrial Average
Watchlist
Open
Last Updated: Dec 1, 2023 at 10:33 a.m. EST
36,006.04
55.15 0.15%
Previous Close
35,950.89

[Nemo]

Dayum, closed up 294.   I ain't believing it.  When it goes, its gonna be a ride.  Get ready to hang on.  Might better start hanging on right now.

Nemo

https://www.marketwatch.com/investing/index/djia

Dow Jones Industrial Average
Watchlist
Closed
Last Updated: Dec 1, 2023 4:51 p.m. EST
36,245.50
294.61 0.82%

[pkveazey]

Watching the Stock Market might have some merits but actually it just lets us see how fast inflation is rising. The stocks aren't actually worth more, it's just that the stocks are following inflation up. The Venezuelan stock market was the highest it had ever been when the whole economy collapsed into hyper-inflation. That's where we are right now and I've got my Silver face shield on for when the SHTF.

[Nemo]

I have not paid attention to metals in the past few weeks.  Seems watching closer would be a good idea.

Nemo


https://www.monex.com/gold-prices/

https://www.monex.com/silver-prices/


Gold  $2,075.00 +30.00
Silver $25.55      + 0.09

that is for basic silver.  If you go coins add 15-20%  if you by quantity.

https://www.monex.com/silver-american-eagle-coins-for-sale/

American Silver Eagle Coins
As low as: $3,135.60
Sold in quantities of 100

[Felix]

I have a grand total of 2 ozs physical gold in my hot little hands...   some inflation eroding cash too.    But a more substantial amount over that in the market divided between gold miners and ETFs.   ALL have taken a very large jump up in the last week.    Which (on paper) puts my physical in the shade.   
As indicators go, the "smart money" appears to be preparing for a reset of precious metals is my read.   With our debt/GDP rocketing into financial meltdown collapse territory, Whooda thunk?
But if the worst of worsts comes to pass, good luck with paper assets AND physical which can just as easily be called in by the current crooks as was done before.    Of course, the physical would be recalled at a "wonderful" price, dontcha know.
Any port in a storm?   What if they are ALL open to the sea?

[Nemo]

$2100+.

Why is it doing all this?  See below for mainstream explanation.

Nemo


https://www.cbsnews.com/news/gold-price-all-time-high-why-is-gold-up/