Pep talk: don't sell your PM now

[vand]

2 hours ago, goldmember44 said:

Wow, indeed... to get out of gold now, and push that money into the stock market instead at this point seems totally irresponsible. All the warning signs are there for the global economy, we are anticipating recession.. the stock market has had an amazing run-up until now... but the tides are turning. There will be another opportunity to get into stocks again for the next equities bull market, but many things need to get resolved before then, and stocks need to bottom out.

Most people don't "get" gold at all.  They see it as an unproductive asset with no cashflow, therefore they are willing to unload it at the earliest opportunity which will show them a profit.   They are way over-exposed to stocks and ignoring the warning signs that the bond and gold markets are flashing.

 

[Tn21]

6 minutes ago, vand said:

Most people don't "get" gold at all.  They see it as an unproductive asset with no cashflow, therefore they are willing to unload it at the earliest opportunity which will show them a profit.   They are way over-exposed to stocks and ignoring the warning signs that the bond and gold markets are flashing.

 

Yh I find that many people don't understand gold aswell. It in my opinion is more versatile then doubters think and it can perform many functions. 

Also how great was your timing of this thread. Great stuff.

 

Edited August 28, 2019 by Tn21
Timing

[silenceissilver]

On 28/08/2019 at 12:37, KDave said:

I like the long term bullish outlook but what are the alternative scenarios. How long was it between the last two bull markets in metals. Commodities cycles are very long, 7 years bear is not very long in gold market terms. Why not expect a repeat of the 80's and 90's price action, the recent move looks a lot like the 80's charts, an echo of 2011 before the long grind lower. 

That's actually true. I think there is a crucial difference though. We are at a different stage in the historically roughly 2 generation cycle of resets - at the end of it. In the early 1980s we were still in the middle of this current, very long cycle that started after WW2 (Keynesianism has stretched the lifetime of the current cycle compared to historic ones)

Although I think the bullish outlook is probably correct and I continue to buy, I'm wondering what will happen to the gold price (or more precisely its purchasing power) after a reset. When the reset comes closer, gold will go up for sure but what if the economic depression is over after 3 years and we have a long term new economic boom, afterwards? (Particularly the general decline of the West and her demography of course, make the scenario of a long boom after a very rough 3 year depression only one possible scenario, the alternative is a long and slow economic decline, with or without fast currency reset.)

But even if gold does come down in a depression/recovery scenario, from what level? I tend to think the most likely scenario is a high rise as the reset comes closer, gold falling a lot after the reset but the new steady gold price (or rather purchasing power) still being higher than the current purchasing power. I also assume so because of the charts around 1980 and around 2010. It fell to a higher level than where it was before and a reset should bring us another similar curve upwards, first, this time not with another 30 years between those similar curves we saw around 1980 and 2010.

 

 

[vand]

Yep.. this bull market is still in its infancy.

 

*facepalm*

Edited September 3, 2019 by vand

[goldmember44]

53 minutes ago, vand said:

Yep.. this bull market is still in its infancy.

 

*facepalm*

Oh dear... triple mega facepalm indeed

[5huggy]

IMHO! "SUICIDAL" !😲

[Notafront4adragon]

1 hour ago, vand said:

Yep.. this bull market is still in its infancy.

 

*facepalm*

So did you buy it off them?

[Abyss]

What A Gold Shock Could Look Like

GoldSilver (w/ Mike Maloney)

Premiered 2 hours ago

https://goldsilver.com/blog/what-a-gold-shock-could-look-like-institutional-investors-start-buying/

Will institutional investors allocate small percentage funds into Gold is the big question? Allocated into paper Gold then the price can still continue to be suppressed.

[vand]

I hope everyone has is not only still holding, but has been continually buying, because the odds are improving rapidly that we have seen the bottom of this intermediate correction.

The recent correction knocked off about $110 from about $1560 down to $1450. We moved from a fairly stretched level about 17% above the 200dma back to a much more moderate 3.5%.This is a very healthy level of correction to recycle money out of tired hands, ready for the next leg up.

GDX is looking very strong. Silver has been holding up very well.. all good signs that this is a healthy bull market ready to start moving up again. 

Edited December 3, 2019 by vand

[Ceaiu]

Bought my first gold bar one month ago.

Since then the price for it has reduced with more than €100.

I actually wish that spot price goes even lower than that so I can buy more gold bars for the stack. 

I also committed to a couple of coin series that will take some years to complete. This is to satisfy my own collecting bug.

I want prices not to increase for at least 5 years.

 

[Guest]

Silver appears to be getting support at £13oz which is nice, maybe the next run up will touch £18oz or higher?

Im in this for the long run anyway, buying silver only until the end of the year and then hoping to pick up 1 full sovereign a month throughout 2020, probably some sly silver purchases too..

[Stuntman]

I have bought a little bit more physical gold, and have added to my ETF holdings of silver and platinum.  Will keep buying over the next few months if prices remain at or near current levels.

[Abyss]

I think we still have one more leg down between $1350 to $1420 to play itself out over next couple of months. Gold weekly charts look very bullish for 2020 price could hit $1700 in the next run up.

[silvernewbie]

12 hours ago, Stuntman said:

I have bought a little bit more physical gold, and have added to my ETF holdings of silver and platinum.  Will keep buying over the next few months if prices remain at or near current levels.

Hi which etf do u use?

[Stuntman]

^^^ I use the iShares ETFs for Gold, Silver and Platinum, held either in my ISA (the Gold ETF) or my SIPP (the Silver and Platinum ETFs)

[TheGeneral]

On 03/12/2019 at 20:00, scotland210590 said:

Silver appears to be getting support at £13oz which is nice, maybe the next run up will touch £18oz or higher?

Im in this for the long run anyway, buying silver only until the end of the year and then hoping to pick up 1 full sovereign a month throughout 2020, probably some sly silver purchases too..

I have a similar strategy. I would like to buy a sov a month and if I have any spare money an American buffalo at some point in 2020. 

[vand]

I'm going to BUMP this topic every time gold or silver hit a new high, as a reminder for people to SIT ON THEIR HANDS. Do not try to be greedy by dancing in and out of your main position to juice your returns by the extra half percent or whatever you think you can snatch.

Accumulate, ride out the small weekly and monthy gyrations, and cling on for the mindblowing bull market ride of a lifetime where the total returns will be many hundreds of percent. You DON'T want to be one one saying "I wish I hadn't tried to be clever and sold out so early" 5 or 7 years from now.

[Stuntman]

Still doing exactly this.  Bought silver and platinum again in Dec, bought gold again in Dec and Jan.

[Abyss]

The last impulse wave taken gold from $1455 to $1615. As long price action reveals months of sideways price action and consolidation or develops into slow channel downward price movement without any major swings lower and the previous swing low $1455 respected then hold and wait until the next impulse wave higher.

Everything read/watched my mindset hold onto the physical yellow metal for at least a decade. A lot of talk about safe heaven assets and Gold and the Dollar to rise together over next decade but ultimately Gold will be the overall winner.

Edited January 12, 2020 by Abyss

[vand]

BUMP.

 

You all know my recommendation on what to do as we see gold hitting new GBP All Time Highs: ABSOLUTELY NOTHING.

 

Sit on your hands. This bull market has many, many years to run. Go back and read the whole thread  - nothing at all has changed. We are going multiples higher, and it has very little to do with Coronavirus or whatever the scare story of the day is.

 

If you want to be one of the miniscule number of people who build long term wealth then you cannot be tempted to cash in a relatively puny 10% move. Leave that for the traders. Wait for the 500% move. That is how real wealth is made. 

 

[sovereignsteve]

Exactly. Trade coins if you want but only buy those that you can probably sell for more. When you sell, use the money to buy more coins to trade up with.

[vand]

Is anyone still a believer?

Because we are going to see an unbelieveable move in the price of silver soon.

Remember the shakeout of 2008? Of course you don't. I don't blame you.. Silver was just another asset that got smashed as the economy went off the cliff, going from $20 to $8.

Silver has ALWAYS been incredibly volatile. That is why I never advise anyone to put all their money, or even the majority of their money into silver or even anything else, even if you believe it is the best buy in town.

We all know what happened in the aftermath of the financial crisis, as the economy reflated the PMs took off, and silver went all the way to $50. The world was a changed place.

 

Today the world is a changed placed. Fundamentally, everything the soft-money critics had warned about is now happening. Unlimited bailouts, and helicopter money. Sovereign default is assured. It will take another few years for non PM holders to finally understand that you can't print your way out of a crisis.

In this new world, money takes on a different meaning. 

[Stuntman]

Bought quite a bit more silver about a month ago when the price was about £13.

Bought some more a couple of weeks ago when the price was about £10.25.

Will buy again once I've got paid at the end of the month.

Am definitely in at these prices.

[vand]

With Gold continuing to set new all time highs in GBP, this is my timely BUMP to remind everyone to keep holding and stay patient for the big move to play out -which takes years, not weeks or months. And silverbugs, don't be disheartened, silver will surprise many in the upcoming reflation.

 

Don't be the next chump

 

Edited April 9, 2020 by vand

[AuricGoldfinger]

😂 that thread has become a folklore that gold bugs tel their children. Legendary!