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Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.

 
Anonymous Coward
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02/21/2020 07:20 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Could anyone here suggest some material on investment and hobby gold purchases?.... The DOs and Donts ...
 Quoting: rccola


Physical gold and silver are generally used as a hedge rather than a straight up investment.

The gold price of today has finally risen back to where it was in the 2011-2012 time frame, so in other words if you bought gold 8-10 years ago, you've been losing money every year up until recently.

The strategy I personally use for gold and silver is to buy small amounts throughout the year (cost averaging).

I buy from either Kitco or JM Bullion.

For gold I usually buy either the 1 ounce or 1/2 ounce Canadian Maple Leaf gold coins.

For silver I usually buy the 1 ounce Canadian Maple Leafs, and the 5 ounce and 10 ounce bars.

I try to keep approximately 10% of my total investments in physical gold/silver (although over the last 3 years it's been closer to 3%-5% of my total with the boom in the stock market), and use it as a hedge rather than a money making investment.
 Quoting: Callin


Not in AUD. Gold has tripled in price since 2008.
Chaosisfreedom

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02/21/2020 07:24 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Could anyone here suggest some material on investment and hobby gold purchases?.... The DOs and Donts ...
 Quoting: rccola


Physical gold and silver are generally used as a hedge rather than a straight up investment.

The gold price of today has finally risen back to where it was in the 2011-2012 time frame, so in other words if you bought gold 8-10 years ago, you've been losing money every year up until recently.

The strategy I personally use for gold and silver is to buy small amounts throughout the year (cost averaging).

I buy from either Kitco or JM Bullion.

For gold I usually buy either the 1 ounce or 1/2 ounce Canadian Maple Leaf gold coins.

For silver I usually buy the 1 ounce Canadian Maple Leafs, and the 5 ounce and 10 ounce bars.

I try to keep approximately 10% of my total investments in physical gold/silver (although over the last 3 years it's been closer to 3%-5% of my total with the boom in the stock market), and use it as a hedge rather than a money making investment.
 Quoting: Callin


Not in AUD. Gold has tripled in price since 2008.
 Quoting: Anonymous Coward 78193115


You seen the chart of the AUD lately man? The fucker is falling from the sky. If you got cash in the bank bro take it out now. Real talk.
Order is tyranny, chaos is freedom.
Anonymous Coward
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Denmark
02/21/2020 07:46 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
(((They))) need to keep a lid on bitcoin somehow. That is why they are desperately pumping their fake PM and stock market continuously.

As soon as they stop the money will flood into bitcoin which is an inevitability anyway. They cannot keep juicing their fake markets without inflation spreading elsewhere.
Anonymous Coward
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02/21/2020 07:47 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Will hover around 2k at the end of this year
Anonymous Coward
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Australia
02/21/2020 07:57 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Could anyone here suggest some material on investment and hobby gold purchases?.... The DOs and Donts ...
 Quoting: rccola


Physical gold and silver are generally used as a hedge rather than a straight up investment.

The gold price of today has finally risen back to where it was in the 2011-2012 time frame, so in other words if you bought gold 8-10 years ago, you've been losing money every year up until recently.

The strategy I personally use for gold and silver is to buy small amounts throughout the year (cost averaging).

I buy from either Kitco or JM Bullion.

For gold I usually buy either the 1 ounce or 1/2 ounce Canadian Maple Leaf gold coins.

For silver I usually buy the 1 ounce Canadian Maple Leafs, and the 5 ounce and 10 ounce bars.

I try to keep approximately 10% of my total investments in physical gold/silver (although over the last 3 years it's been closer to 3%-5% of my total with the boom in the stock market), and use it as a hedge rather than a money making investment.
 Quoting: Callin


Not in AUD. Gold has tripled in price since 2008.
 Quoting: Anonymous Coward 78193115


You seen the chart of the AUD lately man? The fucker is falling from the sky. If you got cash in the bank bro take it out now. Real talk.
 Quoting: Chaosisfreedom


And do what with it? My debt is priced in AUD and is sitting in the offset working off the debt.

The rest is in stocks, gold, silver and guns.
Chaosisfreedom

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Australia
02/21/2020 08:06 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
...


Physical gold and silver are generally used as a hedge rather than a straight up investment.

The gold price of today has finally risen back to where it was in the 2011-2012 time frame, so in other words if you bought gold 8-10 years ago, you've been losing money every year up until recently.

The strategy I personally use for gold and silver is to buy small amounts throughout the year (cost averaging).

I buy from either Kitco or JM Bullion.

For gold I usually buy either the 1 ounce or 1/2 ounce Canadian Maple Leaf gold coins.

For silver I usually buy the 1 ounce Canadian Maple Leafs, and the 5 ounce and 10 ounce bars.

I try to keep approximately 10% of my total investments in physical gold/silver (although over the last 3 years it's been closer to 3%-5% of my total with the boom in the stock market), and use it as a hedge rather than a money making investment.
 Quoting: Callin


Not in AUD. Gold has tripled in price since 2008.
 Quoting: Anonymous Coward 78193115


You seen the chart of the AUD lately man? The fucker is falling from the sky. If you got cash in the bank bro take it out now. Real talk.
 Quoting: Chaosisfreedom


And do what with it? My debt is priced in AUD and is sitting in the offset working off the debt.

The rest is in stocks, gold, silver and guns.
 Quoting: Anonymous Coward 78193115


Buy food, water and fuel. Our banks have bail-in laws, they can legally take customer deposits to help pay their creditors. Once the Aus banks go down cash will be king in the day to day here. And how exposed do you think Aus banks are to China? The economy that has just seized, potentially for the foreseeable future?
Order is tyranny, chaos is freedom.
pops
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02/21/2020 08:08 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
My position is $290 gold and $4 silver.....haven't sold any....bought it as an insurance policy....knock on wood I haven't had to cash out....

I'm 60 now.....


Real Estate is my bread and butter

Precious metals my insurance policy

Cryptos my lottery ticket
Anonymous Coward
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02/21/2020 08:14 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
yo boys its literally grazing 1640 as I type this. Made some cash today..or won back some losses to be fair.

If this virus keeps getting worse and we get another flare up in the middle east or balkans this shit could go to 2k+ easy.
Anonymous Coward
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Australia
02/21/2020 08:15 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
the buy price just hit 1640 on my broker. next stop is 1650.
Anonymous Coward
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Australia
02/21/2020 08:17 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
this shit is wild. its going for 1641 now.

Institutions and billionairs must be in the know, the volumes to get it to move this quick must be insane.

holy fuck. while typgint his it just flew past 1641, grazed 1641.50
Anonymous Coward
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Australia
02/21/2020 08:20 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
its not stopping. is this Am I watching the collape?

Its now 1643.

I've never seen shit move like this, its like the fucking gfc or 911
Anonymous Coward
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United States
02/21/2020 08:41 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
When I graduated HS my grandfather gave me 40oz of gold he bought at around $300/oz with premium. That ended up being my downpayment on my first house. When he passed he left me a suitcase full of franklin halves. That was enough to get me into PMs.

Unfortunately my 401k took a huge hit about 10 years ago and I cashed that (20k) out to buy 800 morgans and 200 oz of silver at the top $48/oz. I got the 2 100oz bars at spot but they were old poured bars so I sold them at a nice premium a few years ago and the morgans are now worth what I paid for everything. Since that time I think the majority of my stack was purchased around 13-14/oz as I thought that would be as close to a low as it could get.

I would feel comfortable buying now but I suspect the mysterious $50 mark will be hard to surpass. If price ever goes past that, I think we will never see a price below that again. Just my 2 cents.
Anonymous Coward
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02/21/2020 08:59 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
I have 4,5 kilos of 99,999% silver in different coins.
Anonymous Coward
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02/21/2020 09:03 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
When will the central banks start pushing the price of gold and silver down again? Or could this be the first sign that the game is over, that they are losing control?
taternuts

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02/21/2020 09:09 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Check Kitco chart, silver over $18.50 as well.
 Quoting: UseLessRepEATER


I sold most of my silver back when it was close to $40.00, I bought in at $5-$7/oz for a while...but generally gold and silver are not good investments...Platinum, Palladium, and Rhodium are where you can make some real money...
 Quoting: BRIEF


stfu
PixieCat

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02/21/2020 09:18 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Serious question: Who do you sell your metals to when you are ready to sell? Surely not the "We buy gold" kind of guys....
Anonymous Coward
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Australia
02/21/2020 09:19 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
When will the central banks start pushing the price of gold and silver down again? Or could this be the first sign that the game is over, that they are losing control?
 Quoting: Anonymous Coward 78488575


It's over. Bitcoin has fucked those one trick pony jewish inbreds in the ass.
Anonymous Coward
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02/21/2020 09:21 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Serious question: Who do you sell your metals to when you are ready to sell? Surely not the "We buy gold" kind of guys....
 Quoting: PixieCat


Who else do you think will buy your worthless, no longer scarce lumps of metal? lol
hillbilly

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02/21/2020 09:21 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
(((They))) are growing it from the
molecular level now. Pretty good imitation...
Makes better teeth than food though.

[link to www.kitco.com (secure)]

Just topped out at $1640, headed back down. hi

Platinum's bottoming out though.
[link to www.kitco.com (secure)]

Last Edited by hillbilly on 02/21/2020 09:27 AM
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PixieCat

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02/21/2020 09:23 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Serious question: Who do you sell your metals to when you are ready to sell? Surely not the "We buy gold" kind of guys....
 Quoting: PixieCat


Who else do you think will buy your worthless, no longer scarce lumps of metal? lol
 Quoting: Anonymous Coward 78093568


exactly, which is why I'm asking!
Prayandprepare000

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02/21/2020 09:23 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
The last two months we could have put a few thousand into more metals, but did major prepping instead. I think when shortages hit hard we'll be happier about the food, cleaners, and TP.
Anonymous Coward
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United States
02/21/2020 09:26 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Could anyone here suggest some material on investment and hobby gold purchases?.... The DOs and Donts ...
 Quoting: rccola


Physical gold and silver are generally used as a hedge rather than a straight up investment.

The gold price of today has finally risen back to where it was in the 2011-2012 time frame, so in other words if you bought gold 8-10 years ago, you've been losing money every year up until recently.

The strategy I personally use for gold and silver is to buy small amounts throughout the year (cost averaging).

I buy from either Kitco or JM Bullion.

For gold I usually buy either the 1 ounce or 1/2 ounce Canadian Maple Leaf gold coins.

For silver I usually buy the 1 ounce Canadian Maple Leafs, and the 5 ounce and 10 ounce bars.

I try to keep approximately 10% of my total investments in physical gold/silver (although over the last 3 years it's been closer to 3%-5% of my total with the boom in the stock market), and use it as a hedge rather than a money making investment.
 Quoting: Callin


This is good advice, and any of the govt sponsored mint bullion rounds are great, so I just get American Eagles in gold and silver. I do not have a lot though, maybe 1% of my portfolio, but started to also collect coins with numismatic value as a hobby so that bumps up the number a bit.
Anonymous Coward
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Australia
02/21/2020 09:26 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Serious question: Who do you sell your metals to when you are ready to sell? Surely not the "We buy gold" kind of guys....
 Quoting: PixieCat


Who else do you think will buy your worthless, no longer scarce lumps of metal? lol
 Quoting: Anonymous Coward 78093568


exactly, which is why I'm asking!
 Quoting: PixieCat


Not only that, like diamonds, gold can be produced in laboratories now.

It's a suckers game.
Anonymous Coward
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02/21/2020 09:32 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Did you the price for Rhodium, $12200 an oz. I bought 20 ounces from Barry Chapell coin tv for $695 an oz just a few years ago. Still have them.
Anonymous Coward
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Australia
02/21/2020 09:33 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Serious question: Who do you sell your metals to when you are ready to sell? Surely not the "We buy gold" kind of guys....
 Quoting: PixieCat


Who else do you think will buy your worthless, no longer scarce lumps of metal? lol
 Quoting: Anonymous Coward 78093568


exactly, which is why I'm asking!
 Quoting: PixieCat


Not only that, like diamonds, gold can be produced in laboratories now.

It's a suckers game.
 Quoting: Anonymous Coward 78093568


Those poor poor diamondsteins and goldbergs

lmao
MissCleo

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United States
02/21/2020 09:35 AM

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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
its not stopping. is this Am I watching the collape?

Its now 1643.

I've never seen shit move like this, its like the fucking gfc or 911
 Quoting: Anonymous Coward 77901062


Corona is China's 911. It was a biological terrorism attack.
Anonymous Coward
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United States
02/21/2020 09:37 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
The Euro is doomed, the Fed has lost control of short term interest rates ergo repo operations, Asia is swirling the drain, the EU and Japan have destroyed their bond markets, QE, bail-in, bail-outs. See the trend? The US economy is the only thing holding up the rest of the world and will be the last man standing but it too will fall in the end.

Governments are broke. If you don't pay the taxes on property they will send the sheriff to take it from you at the point of a gun to be auctioned off. Inflation eats dollars, negative rates eat dollars so dollar savings needed to pay taxes down the road get eaten up slowly with banks or can evaporate instantly in the risk markets.

What to do?

First, keep your mouth shut, a rule broken by many here. Second, physical gold and silver within arms reach protected by bull dogs and shotguns.

Maybe start a new hobby like backyard farming?
Anonymous Coward
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Yemen
02/21/2020 09:54 AM
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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Up today $27
That's %1.67

Its Friday ..but th I is nuts

1647
BRIEF

User ID: 39607259
United States
02/21/2020 10:06 AM

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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
And what are you going to do with the Gold if you're hungry looking for food. You will start to understand what it actually means for something to have a value.
 Quoting: Watcher of the End Game


You sell it?
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
MissCleo

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02/21/2020 10:14 AM

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Re: Update as of 2/23/20 as markets re-open: Gold spot price currently at $1667 USD after flash crashing over $200 at open.
Did you the price for Rhodium, $12200 an oz. I bought 20 ounces from Barry Chapell coin tv for $695 an oz just a few years ago. Still have them.
 Quoting: Anonymous Coward 78145469


I just purchased 1/10 for $1300. And I still feel good about it.





GLP