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News $53 Silver and $4200 Gold hits All Time High!

Latest news
Indeed. The steepness of both charts is wild to behold. If it consolidates for a while between 5500 and 4500, that would be nice.

Stocks and metals are trading like crypto in 2017 and 2019. This is wild to see.
 
I have a 2nd order of $30 face value arriving tomorrow. And then a 3rd order of $25 face value arriving next week.

Then I'm going to cool it for a while and see what happens. :cautious: I am also running out of discretionary cash!
 
I did a little GSR swap on Monday, The spread between buy and sell was still larger than I would have liked but I have to start at some point. If the stock market drops silver will fall much faster than gold. The economy does seem to be softening.
 
It’s funny how a lot of people think the economy is doing great and inflation is down.

With all this movement on metals, it makes me wonder if it’s going to move towards digital assets next. Money is just being parked here for now but it’ll rotate.

We’ve talked about this for some time know, the dollar is sinking and once they start cutting rates faster it’ll sink more but at some point will recover. Then a correction will come again but where the new normal is going to be what to watch for.
 
xrMike said:
I have a 2nd order of $30 face value arriving tomorrow. And then a 3rd order of $25 face value arriving next week.

Then I'm going to cool it for a while and see what happens. :cautious: I am also running out of discretionary cash!
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Meaning your ordered the silver when it was only $30 and it just arrived? That seems quite great.
 
ikeo1 said:
It’s funny how a lot of people think the economy is doing great and inflation is down.

With all this movement on metals, it makes me wonder if it’s going to move towards digital assets next. Money is just being parked here for now but it’ll rotate.

We’ve talked about this for some time know, the dollar is sinking and once they start cutting rates faster it’ll sink more but at some point will recover. Then a correction will come again but where the new normal is going to be what to watch for.
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I think we're witnessing the power of the information silos at work. If you follow financial news you're privy to the inflation information but most folks aren't. They might see their groceries getting more expensive but depending on which information silo they're in (or have been placed in by the algorithms) the answer as to why things are expensive could vary. To be fair, costs are up for a few reasons but I'd bet your average American doesn't know that the DXY is going down, that the dollar is weakening, etc.

I'm disappointed in the lack of attention on digital assets but I think a lot of price action is based on attention. Metals started running for several reasons. Central banks started buying them up and that got in the news cycle. Then the silver story got in the news cycle. Then geopolitical stability vanished, as did trade on rare minerals etc, etc. All of those fed the run to metals which led to higher prices which led to more attention on the metals > price increase.. repeat.

Bitcoin and other crypto has always needed a narrative as a fishing lure. It needs a new one, OR it needs smart money to rotate their precious metal profits back to "digital gold".

As someone who's been around the crypto market for a decade now I've seen the cycles but I've also seen how many new ways there are for people to bet on things: Draft Kings and Prize Picks, poly markets, options trading in your pocket, etc. So many things competing for the money of the risk-takers and (largely) younger men. Without a narrative to pull them in to a murky industry known for its complexity and fraud, those people will keep betting on teams they know and like, or companies they've heard of.
 
NorCALSpeed said:
As someone who's been around the crypto market for a decade now I've seen the cycles but I've also seen how many new ways there are for people to bet on things: Draft Kings and Prize Picks, poly markets, options trading in your pocket, etc. So many things competing for the money of the risk-takers and (largely) younger men. Without a narrative to pull them in to a murky industry known for its complexity and fraud, those people will keep betting on teams they know and like, or companies they've heard of.
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IMO the gambling was the MVP, now the pros with deeper pockets are moving in, institutions. The technology had to be around long enough to prove its capabilities and security. Now that it’s known, it’s only a matter of time.

IMO, the paper derivatives market is going to shift to token based markets. These high values in metals will be digitized into tokens to represent physical.

1 oz gold = 100 gold tokens kinda like GLD without the leverage. Moving physical around is tough the higher the price goes. I think a lot of currencies will move to digital versions because of what’s going on. We’re not quite there yet, just gotta be patient
 
NorCALSpeed said:
Meaning your ordered the silver when it was only $30 and it just arrived? That seems quite great.
Click to expand...

Hahaha!

Actually, I ordered $30 face value of pre-65 U.S. coins, also called "Constitutional Silver" or "Junk Silver" (meaning it has no numismatic value, just silver value). Each $1 of face value contains 0.715 ounces of silver. So that $30 face value order = 21.45 ounces of silver.

ikeo1 said:
Likely constitutional silver face value is the dollar value.

I sold a bunch already
$1 = .77 oz = ~$80

View attachment 144479
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Nice, love the pic of the pile. (y)

But I think $1 face = .715 oz. metal (not .77 oz). Let me know if I'm wrong. I'm new to the "junk silver" game. Also, they do metals in Troy ounces, not regular ounces. Not sure why, or how that complicates things.
 
xrMike said:
Hahaha!

Actually, I ordered $30 face value of pre-65 U.S. coins, also called "Constitutional Silver" or "Junk Silver" (meaning it has no numismatic value, just silver value). Each $1 of face value contains 0.715 ounces of silver. So that $30 face value order = 21.45 ounces of silver.


Nice, love the pic of the pile. (y)

But I think $1 face = .715 oz. metal (not .77 oz). Let me know if I'm wrong. I'm new to the "junk silver" game. Also, they do metals in Troy ounces, not regular ounces. Not sure why...
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You’re right! It’s ozt not oz. It’s .77 silver @ 90% = .715 ozt I sold some at $36/ $1 and I thought I was a champ. 😭 I bought at $12/$1
 
ikeo1 said:
You’re right! It’s ozt not oz. It’s .77 silver @ 90% = .715 ozt I sold some at $36/ $1 and I thought I was a champ. 😭 I bought at $12/$1
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Well you still tripled your money (I think?) so you did alright. (y)

Yeah, I don't understand the "troy" thing, why it was invented, why it's used, etc.

old school ounces = 16 per pound
troy ounces = 14.583 per pound
 
xrMike said:
Hahaha!

Actually, I ordered $30 face value of pre-65 U.S. coins, also called "Constitutional Silver" or "Junk Silver" (meaning it has no numismatic value, just silver value). Each $1 of face value contains 0.715 ounces of silver. So that $30 face value order = 21.45 ounces of silver.


Nice, love the pic of the pile. (y)

But I think $1 face = .715 oz. metal (not .77 oz). Let me know if I'm wrong. I'm new to the "junk silver" game. Also, they do metals in Troy ounces, not regular ounces. Not sure why, or how that complicates things.
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Damn that seems like quite the ROI now that it's >$100/oz. For $30 you got 21oz of silver so 21x100= $2100?
 
NorCALSpeed said:
Damn that seems like quite the ROI now that it's >$100/oz. For $30 you got 21oz of silver so 21x100= $2100?
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No, let me explain better...

When you buy $30 of face value junk silver, you don't pay $30 for it. You pay spot price multiplied by .715 for each $1 of face value (because each dollar of face value contains .715 ounces).

For example, my 1st purchase a few weeks ago, spot price was ~$85. So I paid $85 x .715 x 30, or roughly $1,823 total.

Spot price right now is $121. So my $30 in face value is now worth $2,595. So I am "up" $772 on that one purchase, in just 2 to 3 weeks.

Of course, that "up" is not guaranteed. The price could crash tomorrow below $85 and then I'd be "down".

But I don't care, not interested in short-term gains on silver. If it goes down, I'll just hang onto it. Eventually will rise again above my purchase price.

I was sitting on a small pile of emergency cash in the safe, losing money every year to inflation. Why not transfer it into something that's going up instead?

Years ago I bought $3000 worth of 1oz rounds, when it was $40/oz. It rose up to $50 but then crashed to half that. My wife called me an idiot. I said, "Wait and see babe."

Hang onto metals long enough and you WILL make money, or at least maintain your purchasing power.

Hang onto cash long enough and you WILL lose money.
 
NorCALSpeed said:
I am so late to this train.
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I heard this phrase before with Bitcoin. I remember I had a window of opportunity to buy BTC with the stimulus check everyone received. But it had to go to my bills because I didn't have a good paying job that time. Fortunately, I got a better paying job not too long after and I started buying BTC slowly. Then silver fell on my radar lol...

I considered myself late to Bitcoin but that did not stop me from buying into the investment slowly. Even silver felt expensive back then...like "oh I should've got in at $15 per troy ounce! Not at mid to high 20's!"
 
millenialshooter83 said:
I heard this phrase before with Bitcoin. I remember I had a window of opportunity to buy BTC with the stimulus check everyone received. But it had to go to my bills because I didn't have a good paying job that time. Fortunately, I got a better paying job not too long after and I started buying BTC slowly. Then silver fell on my radar lol...

I considered myself late to Bitcoin but that did not stop me from buying into the investment slowly. Even silver felt expensive back then...like "oh I should've got in at $15 per troy ounce! Not at mid to high 20's!"
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I bought most of my bitcoin when it was around 7k, sold all of it around 60k, and rebought when it was back down around 20k. I thought I was too late the whole time.
 
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