Gold yet another all time high

6,690 Views | 45 Replies | Last: 19 hrs ago by Buck Turgidson
The Sun
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TTUArmy said:

Yukon Cornelius said:

Why do you melt it? What are you melting?

Might be a recycling gig? Extracting PMs from lower karat jewelry and other items through chemical and smelting process is a growing trend. People that know how to handle the chemical process, which is rather toxic, hit up estate sales, pawn shops, and garage sales for bargains and make pretty serious bank turning that stuff into .999 fine gold and silver.


He owns multiple pawn shops.
Dungeon Crawler Carl
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Nothing to see here......
Dungeon Crawler Carl
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Gold and silver are shining a giant spot light on paper markets...... Who wins in the end?

Dungeon Crawler Carl
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The price push began due to the big boys buying up inventories and "other" factors (i.e. refining capacity and lease rates, especially in silver)

Retail starting to jump in now.

Less than 1% of Americans own physical gold or silver.

What happens to the prices when that number hits 2% or 3%?
Dungeon Crawler Carl
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Yet another all time, just a $10 move in less than 60 days.....


Silver is up 100% on the year, yet not a peep from the financial media......Don't worry folks, nothing to see here, keep buying all that paper.

MouthBQ98
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AG
You can't eat gold. You can grow and raise food on land, and you can protect it with steel and lead. But I do understand were more or less in a global inflationary spiral and the historic defense to that is the fixed supply durable commodity like gold.
Logos Stick
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I'll admit haven't thought this through completely, but I have a lot of the ETF GLDM which is backed by physical gold mostly in London.

London is being taken over by the 3rd world. As they say it happens slowly, then all at once.

Cause for concern?
Dungeon Crawler Carl
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Do you want paper or physical? There is risk in both.....


25oz of gold = ~$100K (the size of three or four Bic lighters)
250oz is about the volume of a six pack.


Is that safer in your home with you and a gun/dog or with a bunch of coke-head commodity traders on a computer on a server in London/NYC?

Dungeon Crawler Carl
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Buck Turgidson
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Silver over $71/ounce this afternoon. It was a huge big deal for silver to top $50 last month. Seems like every time I check, silver is up another buck or two.

Gold is getting pretty close to $4,500 as well ($4,490 as I type this).

Buck Turgidson
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Silver spot in Shanghai is way higher than in the west. Arbitrage should prevent that from happening:
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