Is Silver next?

[snorko]

Silver is holding just under $27 and gold just under $2,300. It will be interesting to see what the weekend close brings.

 

[gassprint1]

But beware of copper clad aluminum (or steel). Hold out for the real-deal.

That seems to be the industrial standards for most appliance wirering for the past 20yrs I'd say. Lots of "wtf" when i had been scrapping wire from transformers and tvs. Microwave transformers are very steel heavy. Cut the wire off and it's light as a feather. Aluminum wire colored like copper. Makes me wonder if the scrapyards pay motor/transformer prices unless they know to scrap the wire to check for 100% copper under the varnish.

 

[SmolderOutdoors]

Well I decided to unload some silver during this little spike. Went to my lcs and sold a bunch of generic rounds (they paid me $27 per ounce) which is more than I paid for them and I took the cash and bought my fiancés wedding band with it.

Fair price in my mind and I made a necessary purchase with the cash so I’m happy. I prefer stacking junk silver and ase’s so I was fine letting a chunk of the generic stuff go.

 

[Mij]

Well I decided to unload some silver during this little spike. Went to my lcs and sold a bunch of generic rounds (they paid me $27 per ounce) which is more than I paid for them and I took the cash and bought my fiancés wedding band with it.

Fair price in my mind and I made a necessary purchase with the cash so I’m happy. I prefer stacking junk silver and ase’s so I was fine letting a chunk of the generic stuff go.

So, trade some metal for some other metal + lady. If I got that right sounds like you got a great deal. Congratulations.

 

[blain]

Well I decided to unload some silver during this little spike. Went to my lcs and sold a bunch of generic rounds (they paid me $27 per ounce) which is more than I paid for them and I took the cash and bought my fiancés wedding band with it.

I wouldn't have had to sell much silver to buy my wedding bands (both).
I paid $35 for our white gold bands, from a failed marriage. Some people think that puts some bad juju on a marriage.
We'll be married 43 years at the end of this month. If our marriage goes south I'll let you guys know.

 

[snorko]

Silver is holding just under $27 and gold just under $2,300. It will be interesting to see what the weekend close brings.

Well the Dow is up, 10 year Treasuries are up, and PMs are rocking. Kinda weird but I'll take it.

 

[Mij]

Well the Dow is up, 10 year Treasuries are up, and PMs are rocking. Kinda weird but I'll take it.

View attachment 344830

Weekends are known for metal being safe harbors to avoid any pitfalls that may occur while our markets are closed. A lot can happen between close Fri. and open Mon. Same for long holidays. JMO

 

[OutdoorDad]

Wait!

You’re a silver bug and I mistook your meaning. .???? Seriously.

I own silver. And gold. But I don't trade them and they aren't part of my portfolio.
Neither is a good hedge against inflation. The inverse correlation isn't there.
They ARE a good store of value. So I accumulate them. Knowing that the Hunt brothers are both dead and that's not happening again.
And the gold run in the 80's is also unlikely.

So, no. Silver isn't "next"
That was my point.

 

[Mij]

I own silver. And gold. But I don't trade them and they aren't part of my portfolio.
Neither is a good hedge against inflation. The inverse correlation isn't there.
They ARE a good store of value. So I accumulate them. Knowing that the Hunt brothers are both dead and that's not happening again.
And the gold run in the 80's is also unlikely.

So, no. Silver isn't "next"
That was my point.

Agree 100%, have said these very things in this thread many times.

A lot of folks don’t even know who/about the hunt’s and their failed attempt.

 

[OutdoorDad]

Agree 100%, have said these very things in this thread many times.

A lot of folks don’t even know who/about the hunt’s and their failed attempt.

had a dormmate in college who's grandmother was funding his education.
she moved his entire college fund into gold in 1980ish. Like gave him the Krugerrands. The actual coins. And wished him luck.

He was a dick.
Frankly, no one in the dorm cried for him.

He learned "diversification" like no one I've ever seen before or since.

 

[Mij]

had a dormmate in college who's grandmother was funding his education.
she moved his entire college fund into gold in 1980ish. Like gave him the Krugerrands. The actual coins. And wished him luck.

He was a dick.
Frankly, no one in the dorm cried for him.

He learned "diversification" like no one I've ever seen before or since.

Que Sera, Sera

 

[dieselrealtor]

 

[SmolderOutdoors]

So, trade some metal for some other metal + lady. If I got that right sounds like you got a great deal. Congratulations.

Thank you! Definitely a fair trade!

 

[SmolderOutdoors]

I wouldn't have had to sell much silver to buy my wedding bands (both).
I paid $35 for our white gold bands, from a failed marriage. Some people think that puts some bad juju on a marriage.
We'll be married 43 years at the end of this month. If our marriage goes south I'll let you guys know.

Sounds like a smart way to go. We used Shane co. With the engagement right and band I’m 9k in now haha. But I’m only doing this once and wanted to do something special for her- mission accomplished so I’m happy!

 

[SmolderOutdoors]

Silver and gold are still on a tear!

 

[dieselrealtor]

Getting closer to my "going to sell a little" number

 

[DoggyDaddy]

Still going up...

 

[Mij]

Do the math for 3000.00 gold at ~80:1, (for AG prices) I can possibly that is ”possibly“ mind you, see that as an end point, (by years end) The local silver bugs are already jumping ship. Some don’t understand what metals are. The mental pressure at 3000.00 will be more than most can stand. JMO, not financial advice just my thoughts. Things should/will get more interesting around election time. Especially if the FED changes their mind on interest rates.

 

[snapping turtle]

My silver just sets. I think I am dollar cost averaged around 18.55 an ounce and at covid it was under 18.20.

if I can not pay Caesar what is Caesars then I have the silver.

I love the fact it is going up in price again. I got Started in silver when I saw a few gun show guys who said price for cash or silver at spot.. well the wife won’t mind if I buy silver and it is easy to change thing into and out of guns. A couple rolls of silver go and a new gun takes its place.

I think I traded silver for an sig p220. The rest has just sat on the second shelf of the safe and now the big bars are on the floor of the safe.

 

[Leo]

I have some silver. I like the idea that it is going up. I hate the reality that it is not going up, but all my hard earnings that are in dollars are losing buying power every day.

It is sad to look at a statement of how much I "made" on 4.85% return CD's and realize that I really lost about 8% of buying power, not to mention I still owe taxes on the "increase".