Silver and Gold

[Nemo]

if you don't have it, get it now.  Not tomorrow, now.

Nemo


https://www.foxbusiness.com/markets/gold-prices-zoom-into-record-books-set-sights-on-further-gains

Commodities
Published 1 hour ago
Gold prices zoom into record books, set sights on further gains
The precious metal finished at $1,889.10 an ounce
By Jonathan Garber, FOXBusiness

Gold prices rallied to record highs on Thursday as the U.S. dollar sank to its lowest level in nearly two years.

Futures traded at the COMEX for the front-month July contract surged $25 to $1,889.10, edging out its previous high of $1,888.70 set on August 22, 2011.

Gold has been “making record highs consistently for a couple of years now in other currencies, so the dollar was the lone exception,” said Peter Schiff, CEO and president of Westport, Connecticut-based Euro Pacific Capital. “Now the dollar's joining the party.”

.   .   .

continued

[pkveazey]

With all the crap going on in our country, I think Gold and Silver are going to go to the Moon. The economy has collapsed and nobody wants to say it. The COVID 19 crap is being used as a cover for the collapse. The big push to move us into a digital monetary system is another unspoken conspiracy. The BS about a coin shortage and having to have exact change is another maneuver away from using cash. Screw 'em, I'm stacking Silver and holding cash to make all my purchases. Checks are only for paying monthly bills by mail. None of that automatic take my money out of the bank for me BS. I only use my credit card for gas for the cars and I always go to the same gas station. OK, OK, OK, once in a while I'll use it for an Amazon purchase.

[Nemo]

As of right now, 0941.

Nemo

https://www.jmbullion.com/silver/

live spot prices: Gold Ask$1,911.86  up $15.58
Silver Ask $22.96 up $0.21
Platinum Ask $934.70 up $10.75
Palladium Ask $2,268.96 up $55.19

[grizz]

I still see lead as the best investment.

Alcohol and drugs (all types) as the second best. Although considering the how this panic started, toilet paper may be a great second choice.

[pkveazey]

Grizz, I have quite a good investment in lead. When I first started stacking Silver, I made a point of telling family members and close friends to get some also. I even gave them an ounce every time I saw them and then reminded them to put it in their sock drawer and forget that it was there because they would eventually need it in order to survive. Every time I would take my car in for repairs, I'd give Mike ands Jeff an ounce to put away for when they needed it. I give my Dr. an ounce every time I get a checkup and tell him to save it and that he should buy some more because he was going to need it. Why did I give Silver to my Dr. and my Mechanics? Well, I can do pretty much everything for myself except for Auto Repairs and Medical Issues. Well, besides me liking them, there might come a time when I have no money and might just need a bit of help and that Silver might have kept their asses out of the fire. What goes around, sometimes comes back around. With the price of Silver going up and the Premiums also getting really high, I can't really afford to pass out much Silver any more. If you ain't got none, you better get some.

[Nemo]

Gold back over $1900.  Blame it on Ukraine.

Nemo

https://www.morningstar.com/news/marketwatch/20220217512/gold-touches-1900-for-the-first-time-since-june-on-flare-up-in-russia-ukraine-tensions

MarketWatch
Gold touches $1,900 for the first time since June on flare up in Russia-Ukraine tensions
Provided by Dow Jones
Feb 17, 2022 10:04 AM EST

By Myra P. Saefong and Mark DeCambre

Gold futures jumped on Thursday, touching a high of $1,900 an ounce for the first time since June of last year, as a flare-up in tensions between Russia and Ukraine renewed concerns about a wider military conflict.

Officials supporting Russia in the Donbas region have accused Ukraine's armed forces of launching grenades and mortar attacks into the Russia-backed region, which would be a breach of cease-fire agreements.

The accusations come as Moscow has been seen continuing to build up troops along the Ukraine border, despite claiming that it is withdrawing forces, according to U.S. intelligence.

Gold has been reacting to the geopolitical tensions in Eastern Europe, as well as evidence that inflation is surging in many parts of the world in the aftershocks from the COVID-19 pandemic.

Prices for the metal have climbed this month, benefitting mainly from "haven-investment demand brought about by the U.S.-Russia tension over Ukraine and concerns of persistent, elevated inflation," said Jeff Klearman, portfolio manager at GraniteShares, which offers the GraniteShares Gold Trust (BAR).

Against that backdrop, gold for April delivery rose $24.40, or 1.3%, to trade at $1,895.90 an ounce, following a 0.8% gain on Wednesday, which had marked the highest settlement for the most-active contract since June 11, FactSet data show. Prices on Thursday touched a high at $1,900, also for the first time since June.

The upside for gold, however, has been somewhat limited by concerns about central banks plans to raise interest rates to combat high inflation. The minutes released on Wednesday from the Federal Reserve's late-January policy meeting, however, didn't imply that the central bank was adopting a more hawkish stance than investors have already anticipated.

The meeting minutes seemed to indicate the Fed would act to increase rates "more cautiously than previously believed, adding to inflation concerns and supporting gold prices," Klearman told MarketWatch.

He points out that while 10-year real yields have increased 25 basis points since the end of January, from -71 basis points to -46 basis points, they are still negative despite growing expectations the Fed will tighten six or more times this year.

"Even more importantly 10-year inflation expectations have not declined, hovering near 2.5%," Klearman said. "Both these facts indicate the market is not convinced the Fed's current policies are aggressive enough to reduce inflation going forward, which is supportive of gold prices."

March silver also moved up by 11.5 cents, or 0.5%, to $23.72 an ounce, following a 1.1% gain a day ago.

Prices for silver moved up to session highs in the first few minutes after the release of U.S. data on weekly jobless claims and housing starts, as did gold, but both metals then pared back those gains.

In U.S. economic data, new applications for unemployment benefits jumped by 23,000 to 248,000 last week to break a string of recent declines. Meanwhile, U.S. home builders started construction on homes at a seasonally-adjusted annual rate of roughly 1.64 million in January -- roughly 4% decrease from the previous month

In other Comex trading Thursday, March copper edged lower by 0.2% to $4.528 a pound. April platinum lost 2% to $1,084.90 an ounce and March palladium traded at $2,367.50 an ounce, up 4.2%.

-Myra P. Saefong

[Jackalope]

Can't eat silver or gold.

[Nemo]

Barn not full?  Attic?  I ran out of room a while back so things mostly rotating. 

Besides, what happens if things start to get somewhat normal regarding production after a while. 

3Bs plus 2 is a good idea--  Beans, Bullets, Bandages with barter and bullion. 

My thinking anyway.

Nemo

[FeedingFreedom]

Gold and silver are a medium of exchange when direct barter is not feasible. They have intrinsic value, unlike paper money or talley sticks or seashells or whatever people decide to use as a place marker for value. You can't eat them, but you could create a local economy and get goods you might not otherwise be able to get. You will need things you don't have, and if you don't have something (or enough of that something) the other person wants, how do you effect an exchange?

[JohnyMac]

In theory, PM's should be the last think you buy. Food then shelter then defensive tools then PM's.

Buy silver first then if you have any money left over, gold.

Silver can be used to buy everyday items. Gold is for those big ticket items, tractor, vehicle, cow, horse, etc.

I have already predicted that Gold will be above $2,000 by mid year. Maybe sooner with all of the unrest around the globe.   

[pkveazey]

OK, OK, OK........ We all know that I'm a Silver Stacker. Therefore, I'm going to be pro PM no matter what. Now, There actually are a lot of people out there that have no clue that there is a huge difference between REAL SILVER and PAPER SILVER. The price of REAL SILVER is based off of the price of PAPER SILVER. Why we price them that way is about as stupid as pricing Chicken Feathers by the pound to Chickens by the pound. One is worthless and the other is not. I hear the "You can't eat Gold or Silver" all the time and it is absolutely true. Now, try to hire a Lawyer or Doctor or Engineer and offer to trade him some chickens for his services. There are just some things that you are not going to be able to Barter for. Now, I do think that putting everything you have into Gold or Silver and nothing else is complete insanity. The bottom line is....... You better have some PM's in your prepping items.

[FeedingFreedom]

JP Morgan has been artificially (and criminally) keeping the price of "paper" silver low for a long time. Best get some before they lose control of the market, because the price will go stratospheric almost instantly.

I always buy a little silver from a person I know well, I pay cash, and he knows that I'm not interested in numismatic coins in any way. He saves the junk silver for me, every month or so, I swing in and tell him how much I want, we sort through the coins he has, and I get the pick of the litter. A few dollars here and there adds up, I hardly notice the expense, and I know that I have something that will never have a value of zero, or worse, negative value like fiat dollars.

[Nemo]

Gold is going up.  Big time.

Nemo


https://www.marketwatch.com/story/gold-is-officially-outperforming-stocks-in-2023-as-october-rally-continues-40adda1b

Gold is officially outperforming stocks in 2023 as October rally continues
Last Updated: Oct. 26, 2023 at 5:08 p.m. ET
First Published: Oct. 26, 2023 at 5:02 p.m. ET
By Joseph Adinolfi

It?s official: gold is officially outperforming the S&P 500 stock index in 2023 due to an October rally that has brought the price of an ounce of the yellow metal to the cusp of the $2,000 mark, a level it hasn?t seen since May.

Metals traders attributed gold?s gains to a surge in demand for hedges and safety plays following Hamas?s Oct. 7 attack on Israel, which provoked a war between Israel and the group that is deemed a terrorist organization by the U.S. and European Union.

?The brutal Hamas attack on Israel sent shock waves around the world ? and sent the price of gold soaring,? said Brien Lundin, editor of Gold Newsletter, in a monthly outlook shared with MarketWatch.

As of Thursday?s close, the S&P 500 SPX had gained 7.8% since Jan. 1, while front-month gold futures have gained 9.2% during the same period, according to Dow Jones Market Data.

Continued

[Felix]

Thanks for the update, Nemo.
I pulled a Krugerand out of the safe to exchange for folding green, had a shop in town going to give me $1950. for it.   I suspected he was making a very good bet but needed the cash for an important and (hopefully) discreet purchase.   Turns out I was able to scrape the needed cash together in time and didn't have to send Mister Kruger away.     
Now, you make me glad I didn't take the bet.
 (but the "smart money" knows that cash is going to keep eroding due to inflation - of a structural, unavoidable, and even _planned_ nature.)