# Precious Metal Prices Rising



## mastermclaster

I've been keeping my eye on the prices of Gold and Silver recently, partly due to having some extra money that I'm wanting to put into those. They both have been increasing quite quickly. Gold has been increasing in price by $10-20 per day. Might be a sign that people are starting to worry a little.


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## rstanek

The stock market took a beating today. They blame the cornhole virus, when stocks go down, precious metals go up....usually.....


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## Denton

mastermclaster said:


> I've been keeping my eye on the prices of Gold and Silver recently, partly due to having some extra money that I'm wanting to put into those. They both have been increasing quite quickly. Gold has been increasing in price by $10-20 per day. Might be a sign that people are starting to worry a little.


Buying due to this isn't the most prudent thing. Not unless you are a short term trader.


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## mastermclaster

I was wanting to put some money into it regardless.


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## A Watchman

Denton said:


> Buying due to this isn't the most prudent thing. Not unless you are a short term trader.





mastermclaster said:


> I was wanting to put some money into it regardless.


You buy and low sell high if you are investing, common sense 101. However, precious metals are best used as a hedge against a fiat currency. You should be buying silver at or around $14.50 and gold around or under $1100.

You would be best served listening to Denton.


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## stowlin

Gold and silver are good prepper items to me I am a believer and so long as my essentials are met I’m glad to buy the routinely regardless of temporary market changes. Yes I sold a bunch in 2011/12 because that $40 plus an ounce was sweet off a $5-6 an ounce investment in the 80’s/90’s. Now I’m too old sell I just buy to preserve what I’ve built up. 

I would probably stop buying at $25 silver and already have stopped on gold.


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## Elvis

When the spread of the virus slows down bullion prices will probably fall back slowly to the 16-$17 range over the next year. This assumes that a democrat doesn't win the next election. I'd be more tempted to sell than buy at this time.

Just my uninformed opinion...


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## StratMaster

Gold is a hedge, not so much an investment. One could make an argument for silver as a long term investment: the industrial uses of silver keep consuming it, and we only pull maybe 850,000 ounces out of the ground a year.


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## Maine-Marine

silver is down again


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## jimcosta

*Wall Street silver prices verses Street Value for Silver*

Yesterday my wife made another silver purchase (Silver Eagles).
The local price was $28.50 - this is the current street price for physical.

The Wall Street published rate of $17.50 yesterday is for paper futures silver (promises to deliver someday), a con.

So what does all this mean to silver stackers?

My Daughter-In-Law withdrew a sizeable sum from her 401(k) last year on May 28, 2019.
She incurred a 10% penalty plus regular tax on the full withdrawal as penalties for early withdrawal.
She paid the penalty and taxes out of her withdrawal and invested the rest in silver.

AFTER deducting the penalties, the difference from her total withdrawal and its current street value today,
she made a *42% Return on her Investment* in just one year.

It appears the silver prices are about to take off now.

P.S. If my D-I-L had purchased with cash and not incurred the tax penalties, her Rate of Return would have been *68%* for the year.


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## jimcosta

*Check My Numbers.*

Look for yourself. Go to an online silver seller and pretend to purchase a hundred silver dollars.
Use the delivered price as the street price for physical.

https://www.jmbullion.com/2020-1-oz-american-silver-eagle-coin/

Go to the above link and pretend to order 100 coins, using a credit card and calculate the postage. 
You don't have to give credit card information. 
It comes to *$28.37* per coin. That is the FMV or street price.


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## ND_ponyexpress_

I dabble in metals. Not so much for the profits, more so to increase the amount I have. started with a 15k investment 10 or so years ago. as prices rise I sell some, and when the fall again I buy back more than I started with. profits go back in-to the pool. sell 1-1oz gold bar, buy 15-10oz silver bars @ 17.50/oz.. sell 5 @ 29/oz. buy again if gets back to around 22 maybe... it is essentially flipping, sell 3 gold bars, sit on cash.. buy back 3 gold eagles and another 1/4-1/2 eagle coin. eventually hope to "grow" my holdings into double size (amount, not value) of original investment... in the end, have 2x as many metals as I started with and my investment never changed.


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## stowlin

Can someone tell me when the US created more instant money then it did in the last six months? If so I’m not astute enough to know it. That, to me is the reason both stocks and metals are doing well, and someday it may not be a good thing at all. That said yes I’m still got by bug out PMs on hand, and I’m long on silver ETFs since I’ve always held them as a hedge anyway but bought more when the FED printed like crazy last spring.


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## 591 Boat

mastermclaster said:


> I've been keeping my eye on the prices of Gold and Silver recently, partly due to having some extra money that I'm wanting to put into those. They both have been increasing quite quickly. Gold has been increasing in price by $10-20 per day. Might be a sign that people are starting to worry a little.


In 1900,a $20 gold piece would buy you the finest suit of clothes on the street. It still will.


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## Maine-Marine

it went up and came back down. I do not think Gold will stay over $2,000 unless some drastic crap hits the fan


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## 65mustang

I'd say with the ??? of who the hell is going to be the President & Vice President, that would qualify as something drastic hitting the fan.


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