Are you still buying gold now its went up in price?

[Centauri167]

5 hours ago, KevinFlynn said:

Does anyone think gold will ever go down again? Will anyone never buy again if it doesn't go down?

🙆‍♂️

101% the price of gold will go down again, just look at the gold price for the last 10-20-30-40-50-... years.

But, I also believe that after every dip the price will go higher than before again. But it takes time.

One of the reasons gold price is getting a lot more expensive in the EU is the collapse of the Euro against the US dollar of the last months/ days.

I don't know if the dollar/ English pound ratio has changed a lot the last days/ weeks ?

 

[James32]

1 minute ago, Centauri167 said:

101% the price of gold will go down again, just look at the gold price for the last 10-20-30-40-50-... years.

But, I also believe that after every dip the price will go higher than before again. But it takes time.

One of the reasons gold price is getting a lot more expensive in the EU is the collapse of the Euro against the US dollar of the last months/ days.

I don't know if the dollar/ English pound ratio has changed a lot the last days/ weeks ?

 

Take that back instantly 😁

[Centauri167]

1 minute ago, James32 said:

Take that back instantly 😁

Nope, or wait for a kg of gold I will take it back 😇

[SilverStorm]

On 13/11/2021 at 12:28, noddycoder said:

Central Banks can't even suggest they may raise interests rates; that alone would send stock markets, hooked on easy credit, into a tailspin. The debt cannotbe repaid: default or devaluation. They're going for devaluation.

Bank of Canada announced few weeks ago that they will raise interest rates in April 2022.   I just hope it’s not a large increase.  

[SilverStorm]

On 13/11/2021 at 13:49, CollectorNo1 said:

I would say after reading all the comments on this thread...BUY GOLD,Period....if you are in it for the long time you won't lose unless their is a world wide economic collapse in fiat or a Meteorite crashes into our planet and if that happens none of us will be here so know point in worrying...😏 Gold and Silver will always be on a rollercoaster of ups and downs controlled by the fed and interest rates,inflation and comments by distinguished financiers as its always been...I will keep buying Gold even if the price continues to rise,obviously we all want to buy on the dip..but for us are in it for the next 5/10/15 years and not day traders or flippers on precious metals I truly believe we will be the ones that benefit on buying as much Gold that we can afford now...and keeping it long term...And of those who do that will see the results in years to come......I don't have to tell you this as you all know ......we are not into buying PM's as a get rich scheme..we are buying and collecting/stacking for our future and our children's future..

Regards..

👆what he said 😆

[noddycoder]

6 hours ago, SilverStorm said:

👆what he said 😆

what he said (twice) 

[James32]

11 minutes ago, noddycoder said:

what he said (twice) 

What he said 👆 2+1 😁

[Centauri167]

4 hours ago, James32 said:

What he said 👆 2+1 😁

I forgot, what did he say ... 🤔 😇 😃

[stefffana]

I can not see any dealer stopping buying and selling, doesn't matter where the spot price is. I suppose they are buying even more than usual when the price is high, because are more sellers on the market. It is only about budget and averages.

In the same time, their businesses are apparently healthy, none of them are bankrupted or in financial difficulties, so my conclusion is this system is a correct one and it works well.

So, I will try to follow their scheme, of course in micro-style, buying and selling small quantities, with an eye on my budget and averages.

All the best!

Stefan.

 

[sjhdesmond]

On 14/11/2021 at 12:39, Coverte said:

 

Swedish doom goblin 

Sounds more like heavy metal than precious metal.

[Centauri167]

5 hours ago, stefffana said:

I can not see any dealer stopping buying and selling, doesn't matter where the spot price is. I suppose they are buying even more than usual when the price is high, because are more sellers on the market. It is only about budget and averages.

In the same time, their businesses are apparently healthy, none of them are bankrupted or in financial difficulties, so my conclusion is this system is a correct one and it works well.

So, I will try to follow their scheme, of course in micro-style, buying and selling small quantities, with an eye on my budget and averages.

All the best!

Stefan.

 

I know from my LCS that they buy indeed more, not from wholesalers but from private parties, when the prices go up but they also sell more because people like to jump on a train when they see a price go up. But they buy more than they sell, so what do they do with the difference ? They keep off course some as stock but much goes direct to be melted so they got the money back when the price is still high.

He told me that how higher the price how better the quality must be to keep, everything with some damage or what looks difficult to sell goes to the melting pot while when the prices are low people care less and are happy they can buy at a low price.

[James32]

3 minutes ago, Centauri167 said:

I know from my LCS that they buy indeed more, not from wholesalers but from private parties, when the prices go up but they also sell more because people like to jump on a train when they see a price go up. But they buy more than they sell, so what do they do with the difference ? They keep off course some as stock but much goes direct to be melted so they got the money back when the price is still high.

He told me that how higher the price how better the quality must be to keep, everything with some damage or what looks difficult to sell goes to the melting pot while when the prices are low people care less and are happy they can buy at a low price.

Makes sense 

[Centauri167]

10 hours ago, James32 said:

Makes sense 

True, the game is, when I hear what the LCS person tells me is to rotate as quickly as possible even when they think the price go up because the margins are not so big.

90%/ junk silver: he buys it 5% under spott price and sells it between 7,5 ( for customers he knows good ) and 10% over spott price.

So a margin ( before costs, taxes and his income ) of around 12,5-15% when the price stays the same. The melter will off course pay less so the price must already go higher before he can break even in that scenario.  But in a fluctuating market, speed is essential.

It is a special kind of business and you have to know the market good to make good money. ( but when I see his house and his cars I'm sure he knows what he is doing 😊 )

[gji25]

apparantly the gold mining industry has seen a 40% decline. that means there is less being pulled from the ground.

the money printing industry is constantly churning away 24hrs a day. you do the maths 🙄

 

 

 

[frugalman]

1 hour ago, gji25 said:

apparantly the gold mining industry has seen a 40% decline. that means there is less being pulled from the ground.

the money printing industry is constantly churning away 24hrs a day. you do the maths 🙄

E waste Gold and silver recovery is getting bigger, even the mints are starting to recycle now, I think soon there will be more recycled silver from e waste than that as a mined byproduct.

I think the old information and figures may need updating.

Green tax breaks may keep the silver price down for a few more years to come? and gold? Just my thoughts.

Frug

[frugalman]

5 minutes ago, frugalman said:

E waste Gold and silver recovery is getting bigger, even the mints are starting to recycle now, I think soon there will be more recycled silver from e waste than that as a mined byproduct.

A very good thing (bar the milk spotting?)

I'm all for recycling.

[gji25]

this is worth a read 😏 https://goldsilver.com/blog/why-elon-musk-secretly-loves-silver/

[Centauri167]

10 hours ago, frugalman said:

E waste Gold and silver recovery is getting bigger, even the mints are starting to recycle now, I think soon there will be more recycled silver from e waste than that as a mined byproduct.

I think the old information and figures may need updating.

Green tax breaks may keep the silver price down for a few more years to come? and gold? Just my thoughts.

Frug

Gold recycling is indeed a big junk and only a little of the used % is getting lost so the impact will get bigger with each year, soon to be more than what they get out of the ground.

Silver is not the same, silver recycling is very little and most is still getting wasted. I think the price of silver must go way higher before recycled silver will reach high numbers like with gold and it will take many, many years before it will be more than what they still get out of mother earth.

[frugalman]

2 hours ago, Centauri167 said:

Silver is not the same, silver recycling is very little and most is still getting wasted. I think the price of silver must go way higher before recycled silver will reach high numbers like with gold and it will take many, many years before it will be more than what they still get out of mother earth.

Silver can be recovered quite easy and refiners process and recover it alongside the gold and other precious & semi precious metals, non ferrous and even lead. I don't know where people get the idea that they just throw it away when it is part of the {industrial} process for the purification of gold.

Again just my thoughts and hope everyone keeps well informed today, I'm hitting the big outside.

Edited November 20, 2021 by frugalman

[Centauri167]

1 hour ago, frugalman said:

Silver can be recovered quite easy and refiners process and recover it alongside the gold and other precious & semi precious metals, non ferrous and even lead. I don't know where people get the idea that they just throw it away when it is part of the {industrial} process for the purification of gold.

Again just my thoughts and hope everyone keeps well informed today, I'm hitting the big outside.

They can do it, but most don't do it, just look at the numbers of some big recyclers.

[frugalman]

4 hours ago, Centauri167 said:

They can do it, but most don't do it, just look at the numbers of some big recyclers.

E waste recycle plants have no option if they want the gold. They don't pour everything other than gold in the solution down the drain, that would be an environmental disaster and a massive waste of all the other metals including silver, platinum and palladium.

I don't know how the miners operate or if they are environmentally friendly? 

but there will always be winners and losers. especially in the new greener times ahead of us.

I don't do stocks and shares but if I did my money would be on on the ones with the green tax breaks for the mid term as it wont last forever.

So this is not financial advise but just what I think. 

Regards 

 

 

Edited November 20, 2021 by frugalman

[dragafem]

Always buy gold if you can afford it. It may seem expensive now but who knows what the price will be in a year.Just remember 2 years ago at christmas time spot gold jumped from $1700aud to $2200aud in a matter of days...

[Centauri167]

Like I predicted, gold is again a few % lower than last week, in a fluctuating market, never buy at the highest price, my 2 cents.

[James32]

14 minutes ago, Centauri167 said:

Like I predicted, gold is again a few % lower than last week, in a fluctuating market, never buy at the highest price, my 2 cents.

Wise words but on the flip side not many ( if any) can judge the top or bottom of any market.

[Centauri167]

2 hours ago, James32 said:

Wise words but on the flip side not many ( if any) can judge the top or bottom of any market.

True, but if the price is at the highest in months or even years, you can say that you are at the top for that moment.

And as with 99% of all commodities, after every top there is a drop; what the market will do after that drop, that I can not tell. ( but I can tell I have a good feeling for gold, less for silver because too many people try to hype it )