WHY is GOLD moving DOWN in PRICE....???

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Sourdough

"Eleutheromaniac"
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In a cabin, on a mountain, in "Wilderness" Alaska.
So, what is current rumors on GOLD.....???
 
The G-7 Countries are planning to sanction Russian Gold. I have no idea if that is pushing the spot price down.
 
So, what is current rumors on GOLD.....???
One theory is derivatives.

2022-07-11_14-42-53.jpg

Another theory is the dollar is the least suckiest currency.

Then with the markets moving down people are being forced to cover margins and gold is being sold to do that.

Another theory is that the inflation numbers are due to a sharp increase in demand that the supply chain was not able to adapt to fast enough. So inflation is going to drop off.

Another theory is the gold price is currently in a pattern (I forget the name) that is indicative of the price jumping soon.

I don't know. :confused2:

Ben
 
It is looking attractive to start a "price averaging type" procurement effort.
 
I am guilty of using that to buy Exxon stock in 2020 after the oil market crashed in 2019.
$63 - buy, $62 - buy, $60 - can't resist, buy!
Back to gold, watching the price of silver march along with it downstairs, it is much more than a just about a "lucky strike" in some gold-mine in Africa.
Maybe the global economy is worse than we know and millions are not buying jewelry?:dunno:
For @Sourdough , much better buying opportunity than when it(gold) was at $1,900 or $2,000:D.
 
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For @Sourdough , much better buying opportunity than when it(gold) was at $1,900 or $2,000

I wish I still had the 101 one oz. GOLD AMERICAN EAGLES that I sold for $198.00 each. Even more then I miss the 100 oz. Bars of Silver I sold for $2.98 an ounce.
 
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I don't want to go off topic, but when you hit the 'reply' button under a post, it quotes the message and you can't get under it to backspace and delete it.
If you hit enter (line-feed) you end up with 2 quotes to play with.
You can delete the second one, but not the first one.
You are stuck with it in that thread unless you 'hock & spit'. :(
Now back to gold being on sale!:woo hoo:
 
I don't want to go off topic, but when you hit the 'reply' button under a post, it quotes the message and you can't get under it to backspace and delete it.
If you hit enter (line-feed) you end up with 2 quotes to play with.
You can delete the second one, but not the first one.
You are stuck with it in that thread unless you 'hock & spit'. :(
Now back to gold being on sale!:woo hoo:
Select all and replace with a space. ;)

Fold was up almost 1.4% on the day. I like it when it does that.

Ben
 
I figured it out.
Type above the quote first, then you can get underneath it to delete it.:thumbs:
On topic: gold still far below its $2K high. DCA is a good idea for anyone looking to buy.
 
I've been saving for the past year to buy some British Sovereigns, but the local coin shop has never had any in stock. I was able to pick up a few today. $15 over melt price...about 3.6% premium, which is about the best premium you can hope for.

Recognized the world over by any coin store or gold collector. About the size of a US nickel. Mix them with some Mexican or European modern coins, and they will likely pass for nearly worthless small change to the untrained eye...just some trash foreign currency...nothing to see here. (But actually almost a quarter ounce of gold.)

Un_souverain_%C3%A0_l%27effigie_de_Georges_V.jpg
 
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I don't want to go off topic, but when you hit the 'reply' button under a post, it quotes the message and you can't get under it to backspace and delete it.
If you hit enter (line-feed) you end up with 2 quotes to play with.

Just an FYI, I don't see that here.
 

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