mr-dead

Who is being encouraged to buy gold? i don't see it. All but a handful are buying gold - that handful may be buying it hand over fist but it is still but a handful. Some people need to open their eyes to the world around them. 
The situation is improving on the purchase side,  but buying gold has been difficult as mints and refineries closed down. Most people are struggling to survive let alone hoard gold. Are jewelry shops open? - they're certainly not on the Continent.
The COMEX as far as precious metals is on its last legs - the LBMA has similarly been exposed for what they are - paper tigers. The spot price of silver is meaningless. The spot price of silver fell and the price to buy physical went up. i listened to the TF Metals interview with Andrew Maguire - Maguire said the Chinese are taking over the London gold market through the LME (London Metals Exchange) - that liquidity will flow to the LME. Maguire has a tendency to be a bit over enthusiastic at times but i find it hard to believe this one is a baseless statement. 

the reality is no one has a crystal ball.
put your money where your mouth is and don't worry about what everyone else is doing.

The difference being there's no where to store the excess oil due a massive slump in consumption.
Pretty sure the opposite is true of gold.

Good luck buying physical for $600 below production costs.

the global financial problems won't end when the pandemic does

Ongoing piss take if he gets it wrong?

Ongoing piss take if he gets it wrong?

I've just seen a 100% move in gold since I started in PMs 😊
 
In GBP,  mind you.

i see we broke £1,400 earlier  
next step up, £1,500 ?? or back down to $400??

the global financial problems won't end when the pandemic does

the global financial problems won't end when the pandemic does

the global financial problems won't end when the pandemic does

on the top we see 11 krugerrand goldcoins
followed from some other gold, silver and platinum coins and medaillons 🧐

 

Big Bars

Combi-Bars

Tiny Bars

Bullion 1oz ers (apart from a 50 peso + 1 X 1/2 of Britannia)

Proof 1oz QB's

Proof 100g gold panda

2017 proof sovs

Bullion sovs

King Phillip II of Spain gold Escudo cobs (doubloons) from 1556 - 1598

 
Silver stack

Proof 150g Panda

A new all time high:

 

A new all time high:

 

Big Bars

Combi-Bars

Tiny Bars

Bullion 1oz ers (apart from a 50 peso + 1 X 1/2 of Britannia)

Proof 1oz QB's

Proof 100g gold panda

2017 proof sovs

Bullion sovs

King Phillip II of Spain gold Escudo cobs (doubloons) from 1556 - 1598

 
Silver stack

Proof 150g Panda

The estimated production cost for an oz gold in 2020 is $920 - $940.
That figure is just getting it out of the ground, add in transport, refining, mintage, dealer costs etc. and I would love to see how $400 is achieveable unless you are paying a 250% premium on physical metal.
 
The pandemic may also be short lived but the long term impact and amount of new money pumped into the system will hang around substantially longer which should benefit gold.

@mr-dead you monster!

Similar to trying to rub everyone's face in the baseless belief that gold was going to $400 and everyone was going to lose their ass except him due to his superior intelligence and chart reading wizardry?
Fairly sure if the price was going the other way, which it may well do in these volatile times then it would be us in the meme
 

If someone is stupid enough to bet the family silver on something as volatile as precious metals (or crypto) especially using leverage resulting in becoming homeless then they have bigger problems than a meme on a forum.
But enough of the fictitious scenarios to cause some drama

The estimated production cost for an oz gold in 2020 is $920 - $940.
That figure is just getting it out of the ground, add in transport, refining, mintage, dealer costs etc. and I would love to see how $400 is achieveable unless you are paying a 250% premium on physical metal.
 
The pandemic may also be short lived but the long term impact and amount of new money pumped into the system will hang around substantially longer which should benefit gold.

If someone is stupid enough to bet the family silver on something as volatile as precious metals (or crypto) especially using leverage resulting in becoming homeless then they have bigger problems than a meme on a forum.
But enough of the fictitious scenarios to cause some drama