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08-06-2020, 05:59 PM
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Join Date: May 2007
Posts: 1,744
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YA! He is a card! The joke's on him!
Quote:
Originally Posted by clock5849
Hilarious!
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08-06-2020, 06:55 PM
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Join Date: Jun 2008
Location: Calgary Area
Posts: 2,378
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39.36
I watched this guy and he called gold and silver unaffordium and unobtainium thought that was kinda funny.
I sure he trying to sell gold but he makes a few good points.
https://youtu.be/KxHwkFbmVWU
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08-07-2020, 09:55 AM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,467
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The inevitable correction today in effect
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Wherever you go, there you are
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08-07-2020, 10:13 AM
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Join Date: Dec 2012
Posts: 1,031
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Quote:
Originally Posted by Justfishin73
The inevitable correction today in effect
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I suspect it will drop further, surprises to see it still so high!
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08-07-2020, 10:21 AM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,467
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Quote:
Originally Posted by morinj
I suspect it will drop further, surprises to see it still so high!
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I'm happy with what I sold
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Wherever you go, there you are
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08-07-2020, 10:22 AM
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Join Date: Sep 2012
Posts: 6,261
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Silver
I believe Silver may be caught up in the "Toilet paper syndrome" However I would rather hold silver than paper, however paper would be useful in the biffy.
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08-07-2020, 10:22 AM
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Join Date: Nov 2007
Posts: 1,721
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Quote:
Originally Posted by morinj
I suspect it will drop further, surprises to see it still so high!
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Then you will be really surprised to see it double again.
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08-07-2020, 10:24 AM
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Join Date: Dec 2012
Posts: 1,031
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Quote:
Originally Posted by Justfishin73
I'm happy with what I sold
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As you should be, if you made a good return! People have to remember that, the money is not made until the item is sold, regardless if
it goes up in time!
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08-07-2020, 11:05 AM
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Join Date: Sep 2007
Location: Strathcona County
Posts: 1,896
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I have decided to just sit on mine.
I don’t really need any more paper currency of dubious value.
I will see what happens.
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08-07-2020, 11:42 AM
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Join Date: Sep 2007
Location: Strathcona County
Posts: 1,896
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Quote:
Originally Posted by morinj
I suspect it will drop further, surprises to see it still so high!
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If you look at the US dollar index you can see a better picture of what is happening here.
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08-07-2020, 11:49 AM
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Join Date: Jul 2017
Posts: 1,425
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Quote:
Originally Posted by morinj
As you should be, if you made a good return! People have to remember that, the money is not made until the item is sold, regardless if
it goes up in time!
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That’s true, however one can lever those equities.
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I get all the news I need in the weather report
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08-07-2020, 12:44 PM
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Join Date: Dec 2012
Posts: 1,031
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Yup won’t be selling any of mine either, I’ll wait until the historic value closes in and trade some of it for gold, I’ll keep all that wealth in metals until I actually need the cash, over the past 15 years I’ve done a ton of research on precious metals and have done very well, and in this day in age you’re better off having magic beans then sitting on cash!
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08-08-2020, 07:06 AM
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Join Date: May 2007
Posts: 1,744
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To finish off the week at $37.90 a oz, thats great! see what happens on Monday!
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08-09-2020, 03:00 PM
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Join Date: May 2007
Posts: 1,744
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Well in 1 hour we will see a another chapter in silver pricing! hope it still picks up speed! and continues on! Ebay is going strong with silver! May have to go that way? Just like to keep it in Canada! But with the American dollar buying Canadian silver? they have the $$$$$ to Canadian $$!
Last edited by badbrass; 08-09-2020 at 03:07 PM.
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08-10-2020, 09:11 AM
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Join Date: May 2007
Posts: 1,744
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Good start for Monday! $38.81
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08-11-2020, 11:32 AM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,467
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Glad I sold some, going off a cliff now
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Wherever you go, there you are
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08-11-2020, 12:16 PM
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Join Date: May 2007
Posts: 1,744
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Sold 30oz. Glad I did sell some! TOO! Wow down $5.00 a oz.!!!!!
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08-11-2020, 12:19 PM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,467
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Not going to say I called it, but.....
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08-11-2020, 01:10 PM
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Join Date: Dec 2012
Posts: 1,031
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There was no doubt gona be a correction, it happens quite often, last time the price climbed from $20 to $26, only to settle back down to $22.50 with a gradual rise to $23.50! I suspect it will drop some more, and the end game will be the rising price of silver!
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08-11-2020, 01:28 PM
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Join Date: May 2010
Location: edmonton
Posts: 3,843
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It will just make a new high just like bitcoin...
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08-11-2020, 01:34 PM
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Join Date: Oct 2016
Location: Edmonton area
Posts: 1,467
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Quote:
Originally Posted by fishtank
It will just make a new high just like bitcoin...
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08-11-2020, 01:55 PM
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Join Date: Dec 2008
Location: Near Edmonton
Posts: 15,043
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And Gold just pooped the bed too. Gold and silver are terrible long term investments. If you want to speculate, buy and sell, you can sometimes make some money. As far as buying either and holding onto it as a long term store of value, hedge against inflation or security against paper money, this is a story that has been pedalled for centuries and it just isn't true.
All through history, governments have on and off outlawed private holdings of gold, silver, and bulk diamonds. If you have a million in gold and can't sell it, what good is it as currency. On top of that look at a 100 year history of the value of gold, especially compared to the stock market. there are a bunch of other interesting charts on Gold lower down on the page.
https://www.macrotrends.net/2608/gol...100-year-chart
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08-11-2020, 02:25 PM
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Join Date: Sep 2007
Location: Strathcona County
Posts: 1,896
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I don't agree that gold and silver are terrible long term investments. Bought at the proper price point they are excellent in my opinion. 300 - 400% in 25 years is an excellent investment in my opinion. Having said that I also treat them much the same as any other commodity. If the interest and excitement is high I am not a buyer. I would not hold more than 5% of one's total net worth in precious metals.
As far as their value goes it's true they are just another rock from the earth.
Lots of things have no actual value - it is perceived value that matters.
Gold and silver are no more risky than cash or even land. Governments have seized those things as well in the past and will continue to do so in the future.
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08-11-2020, 03:43 PM
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Join Date: May 2007
Posts: 1,744
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Quote:
Originally Posted by Justfishin73
Not going to say I called it, but.....
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Ya you did! I think with the USA & China cutting talks in the trade situation, and our little puppet sitting in his little house ( scared to come out!). but most of all with Covid, numbers coming up all over the world because of stupid people! and knowing this is not going away. We are going to crash the stock market, and everything else! But that's just me! I pray I'm wrong!
Last edited by badbrass; 08-11-2020 at 03:54 PM.
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08-12-2020, 09:57 PM
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Join Date: Jun 2011
Posts: 3,713
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Quote:
Originally Posted by Dean2
And Gold just pooped the bed too. Gold and silver are terrible long term investments. If you want to speculate, buy and sell, you can sometimes make some money. As far as buying either and holding onto it as a long term store of value, hedge against inflation or security against paper money, this is a story that has been pedalled for centuries and it just isn't true.
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1971 gold price $43.50 Todays price $1948 1948/43.5 = 44.78x
1971 DOW Jones at 890 Today DOW at 27976 27976/890 = 31.43x
Unless your idea of a long term investment stretches back further than the 1970's, gold has been an excellent investment since the USD$ was decoupled from it. Not only that, a respectable weighting of gold reduced overall portfolio volatility as it is usually uncorrelated with stocks or bonds over time.
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There are some who can live without wild things, and some who cannot. Aldo Leopold
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08-13-2020, 11:52 AM
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Join Date: Dec 2008
Location: Near Edmonton
Posts: 15,043
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08-13-2020, 01:49 PM
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Join Date: Jun 2011
Posts: 3,713
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[QUOTE=Dean2;4217809]As they say, a picture is worth a thousand words. Like I said above, pick the right time to buy and sell, you can make some good money. Buy and hold, not so much.
The charts look much different if you look at 1971 to the present. Gold has been far from being a terrible investment. All assets go through periods of outperformance and underperformance compared to other asset classes. Stocks and bonds may be terrible assets to hold over the next 5-10 years, who knows. A mix of uncorrelated assets provides reduced volatility and smoother returns over time. It reduces the behavioral mistakes most investors a prone to making when stock market crap hits the fan and they watch their portfolios getting crushed.
I will try and post a chart from 1971 Gold vs the SP500 from my spread sheets. Returns are very similar, and the benefit of holding gold in the portfolio to reduce volatility is very obvious.
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There are some who can live without wild things, and some who cannot. Aldo Leopold
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08-13-2020, 01:53 PM
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Join Date: Jun 2011
Posts: 3,713
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Don't know how to post it other than through an image off the phone. Anyway the chart is self explanatory. Have a good day.
Sent from my iPhone using Tapatalk
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There are some who can live without wild things, and some who cannot. Aldo Leopold
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08-13-2020, 02:21 PM
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Join Date: Sep 2007
Location: Strathcona County
Posts: 1,896
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Charts are interesting to look at.
However I don’t know anyone that would invest all in precious metals versus equities.
My own holdings include precious metals, equities, bonds, real estate and cash along with other items I may need if a SHTF scenario happens.
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08-13-2020, 02:29 PM
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Join Date: Jun 2011
Posts: 3,713
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Quote:
Originally Posted by Buckhead
Charts are interesting to look at.
However I don’t know anyone that would invest all in precious metals versus equities.
My own holdings include precious metals, equities, bonds, real estate and cash along with other items I may need if a SHTF scenario happens.
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That's good asset allocation. The average retail investors wealth (outside of their homes) is very overweight stocks, underweight bonds and has almost no exposure to precious metals in their portfolios.
https://www.aaii.com/assetallocationsurvey?
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There are some who can live without wild things, and some who cannot. Aldo Leopold
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