Precious Metals..Again/again

Gold and silver both making some impressive gains today.

On Jun 7, 3:15*pm, Jud wrote:
Gold and silver both making some impressive gains today.

If you own a lot of gold, it probably seems good. I would be more
impressed if we make it about $1250/oz.

On Jun 7, 2:21*pm, Peter wrote:
On Jun 7, 3:15*pm, Jud wrote:

Gold and silver both making some impressive gains today.

If you own a lot of gold, it probably seems good. *I would be more
impressed if we make it about $1250/oz.

From the worst level earlier today (6/7/20), $1250 per troy ounce of
gold would have been a 3% or less move upwards. That's really not
much.

Of course, in terms of the Euro, gold is hitting all-time record
prices. It would also be very close to an all-time high, if not at a
high, in British pounds.

oly

On Jun 7, 6:57*pm, oly wrote:
On Jun 7, 2:21*pm, Peter wrote:

On Jun 7, 3:15*pm, Jud wrote:

Gold and silver both making some impressive gains today.

If you own a lot of gold, it probably seems good. *I would be more
impressed if we make it about $1250/oz.

From the worst level earlier today (6/7/20), $1250 per troy ounce of
gold would have been a 3% or less move upwards. *That's really not
much.

Of course, in terms of the Euro, gold is hitting all-time record
prices. *It would also be very close to an all-time high, if not at a
high, in British pounds.

oly

Sorry, my fat fingers! I meant above not about. Just under 1250
looks like a double top. It may or may not run through it, but my
guess is that you are more certain of the trend when you see a new
high.

Still, it has been strong and I see no reason to actually doubt it
will eventually make a new top.

On Jun 8, 7:51*pm, Peter wrote:
On Jun 7, 6:57*pm, oly wrote:





On Jun 7, 2:21*pm, Peter wrote:

On Jun 7, 3:15*pm, Jud wrote:

Gold and silver both making some impressive gains today.

If you own a lot of gold, it probably seems good. *I would be more
impressed if we make it about $1250/oz.

From the worst level earlier today (6/7/20), $1250 per troy ounce of
gold would have been a 3% or less move upwards. *That's really not
much.

Of course, in terms of the Euro, gold is hitting all-time record
prices. *It would also be very close to an all-time high, if not at a
high, in British pounds.

oly

Sorry, my fat fingers! *I meant above not about. *Just under 1250
looks like a double top. *It may or may not run through it, but my
guess is that you are more certain of the trend when you see a new
high.

Still, it has been strong and I see no reason to actually doubt it
will eventually make a new top.- Hide quoted text -

- Show quoted text -

I'm really not trying to cause a spat here, you seem to be sincere
enough, but I will shout out my strong prejudice against "technical
analysis" and "charting". "Double top" is a "technical analysis"
term and, skeptic that I am and ever will be, TA is simply the modern
day equivalent of alchemy.

TA should be illegal and those who vend "investment advice" based on
TA should be fined and perhaps do prison time after the first
conviction.

I would buy a slabbed, wildly overpriced, twentieth century ultra-high
grade "rare-in-this-condition" puny bronze Lincoln cent before I would
buy a subscription to a TA service.

Numismatics teaches us something about economics and man's historical
failure to control the tool of money, if we want to listen. Paper
money is simply a fraud and a sham. All currencies in the present
modern world are in a "competitive devaluation" race to the bottom.

When I was young, in the 1960s, a nice pre-1933 twenty dollar gold
coin went for $45. Now, probably a minimum of $1,400. I am
absolutely certain that if I am not carried off prematurely, we will
see a "rise" of that magnitude again during the remainder of my
lifetime.

Small daily gold price fluctuations are meaningless. Even a fall of
33% to 50% from the present USD gold price would simply be a buying
opportunity.

oly

On Jun 8, 9:53*pm, oly wrote:
On Jun 8, 7:51*pm, Peter wrote:





On Jun 7, 6:57*pm, oly wrote:

On Jun 7, 2:21*pm, Peter wrote:

On Jun 7, 3:15*pm, Jud wrote:

Gold and silver both making some impressive gains today.

If you own a lot of gold, it probably seems good. *I would be more
impressed if we make it about $1250/oz.

From the worst level earlier today (6/7/20), $1250 per troy ounce of
gold would have been a 3% or less move upwards. *That's really not
much.

Of course, in terms of the Euro, gold is hitting all-time record
prices. *It would also be very close to an all-time high, if not at a
high, in British pounds.

oly

Sorry, my fat fingers! *I meant above not about. *Just under 1250
looks like a double top. *It may or may not run through it, but my
guess is that you are more certain of the trend when you see a new
high.

Still, it has been strong and I see no reason to actually doubt it
will eventually make a new top.- Hide quoted text -

- Show quoted text -

I'm really not trying to cause a spat here, you seem to be sincere
enough, but I will shout out my strong prejudice against "technical
analysis" and "charting". * "Double top" is a "technical analysis"
term and, skeptic that I am and ever will be, TA is simply the modern
day equivalent of alchemy.

TA should be illegal and those who vend "investment advice" based on
TA should be fined and perhaps do prison time after the first
conviction.

I would buy a slabbed, wildly overpriced, twentieth century ultra-high
grade "rare-in-this-condition" puny bronze Lincoln cent before I would
buy a subscription to a TA service.

Numismatics teaches us something about economics and man's historical
failure to control the tool of money, if we want to listen. *Paper
money is simply a fraud and a sham. *All currencies in the present
modern world are in a "competitive devaluation" race to the bottom.

When I was young, in the 1960s, a nice pre-1933 twenty dollar gold
coin went for $45. *Now, probably a minimum of $1,400. *I am
absolutely certain that if I am not carried off prematurely, we will
see a "rise" of that magnitude again during the remainder of my
lifetime.

Small daily gold price fluctuations are meaningless. *Even a fall of
33% to 50% from the present USD gold price would simply be a buying
opportunity.

oly- Hide quoted text -

- Show quoted text -

I don't necessarily disagree. Technical analysis proves nothing.
(There are some free sources and they are occasionally interesting.)

As for a double top, it does suggest that one of the possibilities is
that there might be a pause before a push onward. Gold has made a
significant move up from a low around 1044 in Feb. The original post
mentioned impressive gains. They can be seen that way. They can also
be seen in terms that a previous try at the next higher price failed.
This is not an argument that the market must obey my commands; merely
that this is a place to take note and consider whether the trend is
changing for a while. The market has my permission and surely will do
as it wishes.

In case it rises above 1250, I'll reconsider my position (with a view
toward selling covered calls on mining shares). In case it falls
below 680, I will ask myself if it is prudent to own more. In between
I'll probably just watch and make silly remarks.

Originally Posted by Jud

Gold and silver both making some impressive gains today.

Ya its getting expensive .