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Re: Silver shot up...... [Re: Marty] #6945190
07/28/20 08:22 AM
07/28/20 08:22 AM
Joined: Feb 2008
Posts: 226
NE Indiana
L
Larry Hall Offline
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Larry Hall  Offline
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Joined: Feb 2008
Posts: 226
NE Indiana

looks like the big time traders intervened in both Gold and Silver over the evening hours.. Those $21 and $18.50 buy points just may happen on silver in the next couple of weeks.. I see Goldman Sachs just raised their target price on gold to $2300 an ounce and $30 on silver..Unfortunately the downside to all this is the dollar is probably broken and we as Americans probably have some difficult times ahead.. I recall the late 70's and early 80's.. Car note was 15-17%, house mortgage was 12ish as i recall.. Unbelievable.. Makes it hard to be young, dumb and starting out like I was..

Re: Silver shot up...... [Re: Marty] #6948767
07/31/20 08:08 AM
07/31/20 08:08 AM
Joined: Dec 2015
Posts: 3,166
se South Dakota
NonPCfed Offline
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NonPCfed  Offline
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Posts: 3,166
se South Dakota
Yeah, I remember even higher interest rates. A guy I knew about a brand new crappy little compact care "Horizon"...?) in the fall of 1982 and his note was 19.95%. Then again, he probably had either no credit or had screwed up his first few credit purchases and whacked his credit score. Needless to say, he never paid off that car. A pharmacist I used to know was fresh out of school and just married and they had a house note at 18%. He said after a couple years, they owed more than what they started with the loan. Luckily, "Morning in America" end of Reagan's first term or early in his 2nd, housing around here was moving again and value going up so the pharmist and his wife got out of their crappy house deal and moved up. Our current housing industry would collapse if interest rates went back up pushing 10%!!!!


"And God said, Let us make man in our image …and let them have dominion …and all the creatures that move along the ground".
Genesis 1:26
Re: Silver shot up...... [Re: Marty] #6948871
07/31/20 10:08 AM
07/31/20 10:08 AM
Joined: Mar 2007
Posts: 30,117
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
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Joined: Mar 2007
Posts: 30,117
McGrath, AK
Looks like there are opposing views at Goldman.


Gold has ‘no role’ in portfolio of wealthy clients, says Goldman manager



Don’t believe the hype.

That’s the message from Sharmin Mossavar-Rahmani, chief investment officer of private wealth management at Goldman Sachs, who thinks that gold is overpriced and has no clear role in the portfolios of her private clients.

Our view is that gold is only appropriate if you have a very strong view that the U.S. dollar is going to be debased. We don’t have that view. We think the dollar maintains its status as the reserve currency. The dollar can cheapen a little bit because it’s moderately overvalued but that doesn’t mean that it’s going to be debased, that we are going to have huge inflation and that gold is a good substitute.

During an interview on CNBC Thursday morning, Mossavar-Rahmani explained that her wealth management group has two factors that it focuses on when thinking about gold: strategically and tactically.

She said that gold isn’t a great deflation hedge, doesn’t generate any income, and isn’t tied to economic growth and corporate earnings, so it fails the strategic hurdle as Goldman’s wealth management crew assesses its relevance in a balanced portfolio.

Secondly, she explained that tactically, gold is a hard case to make unless investors hold the perception that the current bout of weakness in the U.S. dollar is the start of a more severe downturn for dollars and a possible change in leadership of the monetary unit that is viewed as the No. 1 reserve currency in the world.

“So all this excitement and brouhaha about gold is not something that we buy into,” Mossavar-Rahmani said.

“In fact, at one point, we think people should look at the reverse and think there’s more downside to gold,” she said.

Mossavar-Rahmani’s comments run in contrast with Goldman’s commodity crew, which earlier this week raised its 12-month forecast for gold to $2,300 from $2,000 .

That shift was precipitated by “a potential shift in the U.S. Fed toward an inflationary bias against a backdrop of rising geopolitical tensions, elevated U.S. domestic political and social uncertainty, and a growing second wave of COVID-19 related infections,” said a team of analysts including Jeffrey Currie.

On Thursday, August gold GOLD, 0.88% fell by $11.10, or 0.6%, to settle at $1,942.30 an ounce, after settling at a record on Wednesday, marking its ninth straight advance, which is its longest win streak since a 10-session climb ended in January.

Gold’s ascent has come amid the backdrop of rising cases of COVID-19 in the U.S. and around the world. However, gold’s climb has also coincided with a weakening of the dollar against its major rivals, which can give gold buoyancy because bullion and other precious metals are priced in the currency and its softening can make metals more attractive to buyers using alternative currencies.

One measure of the buck, the ICE U.S. Dollar Index DXY, 0.14% was down around its lowest level since 2018 and has dropped 4.5% so far in July, according to FactSet data, while gold has climbed 8.1%, based on the most-active contract.


https://www.marketwatch.com/story/g...oldman-manager-11596138456?mod=hp_LATEST


Mean As Nails
Re: Silver shot up...... [Re: Marty] #6948882
07/31/20 10:23 AM
07/31/20 10:23 AM
Joined: Dec 2006
Posts: 11,260
Rodney,Ohio
SNIPERB🦝 Offline
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SNIPERB🦝  Offline
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Joined: Dec 2006
Posts: 11,260
Rodney,Ohio
Did they say that as they were about to buy a bunch of gold like they do with everything else?

Last edited by SNIPERB🦝; 07/31/20 10:23 AM.
Re: Silver shot up...... [Re: Marty] #6948886
07/31/20 10:28 AM
07/31/20 10:28 AM
Joined: May 2010
Posts: 6,728
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 6,728
mn north of blakely
Sharmin probably went to a college that teaches modern monetary theory.

Gold isn't going to stop at 2300 and silver will set new highs.

Our housing market would crash if interest rates went to 5 percent, we are in a bubble. The bubble popped in 2008 and the solution by the FED and the US government was to increase that bubble many times over.

Re: Silver shot up...... [Re: SNIPERB🦝] #6948895
07/31/20 10:39 AM
07/31/20 10:39 AM
Joined: Mar 2007
Posts: 30,117
McGrath, AK
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white17 Offline

"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
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Joined: Mar 2007
Posts: 30,117
McGrath, AK
Originally Posted by SNIPERB🦝
Did they say that as they were about to buy a bunch of gold like they do with everything else?



I have always suspected GS of doing things like that.


Curious here Steven: You mentioned a couple days ago that you expect to see deflation before inflation.......I agree with that.

IF that is true, shouldn't we see metals prices decline ?


Mean As Nails
Re: Silver shot up...... [Re: Marty] #6948929
07/31/20 11:22 AM
07/31/20 11:22 AM
Joined: Aug 2012
Posts: 2,622
SE Minn
R
Rat Masterson Offline
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Posts: 2,622
SE Minn
We would see most prices decline, no?

Re: Silver shot up...... [Re: Marty] #6948932
07/31/20 11:28 AM
07/31/20 11:28 AM
Joined: Mar 2007
Posts: 30,117
McGrath, AK
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white17 Offline

"General (Mr.Sunshine) Washington"
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Posts: 30,117
McGrath, AK
I would certainly think so


Mean As Nails
Re: Silver shot up...... [Re: Marty] #6948934
07/31/20 11:31 AM
07/31/20 11:31 AM
Joined: Dec 2006
Posts: 11,260
Rodney,Ohio
SNIPERB🦝 Offline
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SNIPERB🦝  Offline
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Joined: Dec 2006
Posts: 11,260
Rodney,Ohio
By rights I think we should be seeing deflation now but there is so much manipulation by the fed that it can't happen . The normal rules of the markets have been dammed up. Eventually that dam will break and the downstream effects will be much worse than if the normal flow would of occured.

Re: Silver shot up...... [Re: Marty] #6948993
07/31/20 12:26 PM
07/31/20 12:26 PM
Joined: Apr 2014
Posts: 5,248
MO
cfowler Offline
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MO
Price above spot, for physical Au and Ag, indicates a price increase is anticipated by major dealers. 1oz Eagles in either metal are expected to be in short supply, with a larger premium.

Stackers in some sectors anticipate a price drop after this surge. Some are selling top-end pieces, with a large percent over metals price. They sell high, buy low, make the stack grow.

Locally, shops are offering more, if you’re selling, because turn-around has picked up.

If you happened to purchase earlier in this year, you’re all grin smile cool


I trap for fun. I skin 'em for the money!
Grinners For Life-Lifetime Member, MO Chapter, Den #1
~You Grin, You're In~
Re: Silver shot up...... [Re: white17] #6949086
07/31/20 02:09 PM
07/31/20 02:09 PM
Joined: May 2010
Posts: 6,728
mn north of blakely
S
Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 6,728
mn north of blakely
Originally Posted by white17
Originally Posted by SNIPERB🦝
Did they say that as they were about to buy a bunch of gold like they do with everything else?



I have always suspected GS of doing things like that.


Curious here Steven: You mentioned a couple days ago that you expect to see deflation before inflation.......I agree with that.

IF that is true, shouldn't we see metals prices decline ?


Ken did I say deflation before inflation? I think I said hyperinflation lol. I expect, and I hope for the sake of our youth that I'm wrong, we'll see inflation levels beyond the 70s and early 80s.

Anyhow, should metal prices decline if we see inflation? Let me ponder that for a bit and see if i can best express my feelings.

Re: Silver shot up...... [Re: Marty] #6949100
07/31/20 02:24 PM
07/31/20 02:24 PM
Joined: Mar 2007
Posts: 30,117
McGrath, AK
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white17 Offline

"General (Mr.Sunshine) Washington"
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Joined: Mar 2007
Posts: 30,117
McGrath, AK
No. My question was.....if we experience deflation shouldn't metals prices decline ?

Yes, that's right. You said ....."We'll see deflation before hyperinflation." On the recession thread


Mean As Nails
Re: Silver shot up...... [Re: Marty] #6949328
07/31/20 05:37 PM
07/31/20 05:37 PM
Joined: May 2010
Posts: 6,728
mn north of blakely
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Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 6,728
mn north of blakely
Ken, after some pondering over it, I've come up with three theories of mine.

1). I expect we will see some downward pressure on silver in the coming months. In winter of 08 silver went to a hair over $20, by late summer early fall is was below 10 dollars. By 2011 it was almost $50 an ounce. That is what I expected to happen during when the next economic down turn hit and still can. If silver goes back below 20 I'm backing up the truck.

2). Silver was trading around $17 in early March and then fell to the $12 range for a short period. It could be that was the deflation we were going to experience and the policies of the FED which is true inflation caused the market to rise.

3). This recession is a continuation of the 2008 recession and deflation you speak of happened the last few years and now silver is in inflationary mode.

Notice I haven't used the term hyperinflation yet in relation to metals. I think gold and silver havent even warmed up yet, maybe in the stretching phase.

My above 3 scenarios doesn't pertain to gold so much. IMHO gold is the true form of money and is reacting accordingly to the inflationary policies set forth by central banksik

Of those scenarios, I that #1 is most likely followed by 3.

Last edited by Steven 49er; 07/31/20 05:56 PM.
Re: Silver shot up...... [Re: Marty] #6949333
07/31/20 05:39 PM
07/31/20 05:39 PM
Joined: Jan 2014
Posts: 12,643
North East Kansas
Marty Offline OP
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Marty  Offline OP
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Was not $50 ounce due to a person/persons trying to corner the market?


Free the Kenosha Kid
Re: Silver shot up...... [Re: Marty] #6949356
07/31/20 05:55 PM
07/31/20 05:55 PM
Joined: May 2010
Posts: 6,728
mn north of blakely
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Steven 49er Offline
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Steven 49er  Offline
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mn north of blakely
Not in 2011 when silver went north of 40 and gold set and all time high.

You are referring to when the Hunts tried to corner the market in 1980 and silver went from the $4 range to almost $50. Even after the Comex and the government changed the rules that all but bankrupted the brothers silver trended 2 to times plus or minus higher for 3 years or so. We all know what inflation was like in 1980

Re: Silver shot up...... [Re: Marty] #6949365
07/31/20 06:01 PM
07/31/20 06:01 PM
Joined: May 2010
Posts: 6,728
mn north of blakely
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Steven 49er Offline
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Steven 49er  Offline
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mn north of blakely
Also Ken, I don't think the play is in metals at these price points although I think 24 dollar silver would be a good entry level. Since silver broke the $20 level I think the move is in mining stock

Re: Silver shot up...... [Re: Steven 49er] #6951142
08/01/20 11:05 PM
08/01/20 11:05 PM
Joined: Nov 2007
Posts: 882
N. W. MISSOURI
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TRAPPER-ED Offline
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Posts: 882
N. W. MISSOURI
I got stock in SILV up 79% ,FCX up 51%,WRN up 31%, AG and BTG are 26% , AUY 21% and 3 new ones i just got KGC ,IAU, and LMSDF is only 70 cents a share which 2 stock advisers was high on ,


40 + years of trapping & some fur buying and i still know nothing.
Re: Silver shot up...... [Re: Marty] #6956410
08/06/20 06:04 PM
08/06/20 06:04 PM
Joined: May 2010
Posts: 6,728
mn north of blakely
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Steven 49er Offline
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Steven 49er  Offline
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Joined: May 2010
Posts: 6,728
mn north of blakely
No sign of slowing down.

Re: Silver shot up...... [Re: Marty] #6956470
08/06/20 07:27 PM
08/06/20 07:27 PM
Joined: Jun 2012
Posts: 1,755
KY.usa
rex123 Offline
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KY.usa
If it is this high tomorrow I am selling some.

Re: Silver shot up...... [Re: Marty] #6956481
08/06/20 07:35 PM
08/06/20 07:35 PM
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Posts: 6,728
mn north of blakely
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Steven 49er Offline
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Steven 49er  Offline
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mn north of blakely
I wouldnt.

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