NA - Gold nearing $3,000!

Flatiowa said:
I have a gut hunch that $100 silver will happen (atleast briefly) a lot faster than anyone could have ever expected. (I would not be at all surprised if it happened this week).
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Well, its getting closer. Retail price of a 1oz coin is already there. Will probably see interesting upside action on the mining front as well. Chaos isn't going anywhere and lots of interesting chatter re the bond markets as well.
 
Crazy times. The silver/gold ratio has hit 50 (actually dipped a little below) so I figure it is time to turn silver into gold. I had my PM broker put in sell orders for roughly half of my silver (2,469oz) and buy on 1oz. Maple Leafs. That will add around 32 oz of gold to the Roth IRA. Prior to the trade, my gold was accumulated at a averaged price of $2,008 and I have not been diversified into precious metals for more than about 4 years. Nuts! My broker strongly feels that the ratio has more room to fall hence his suggestion to only sell half of the Ag holdings at this time. I owe the financial manager, that doggedly kept suggesting diversification into precious metals, a very nice steak dinner. None of us anticipated that these investments would turn out to have this kind of meteoric rise.
 
robin ardoin said:
Crazy times. The silver/gold ratio has hit 50 (actually dipped a little below) so I figure it is time to turn silver into gold. I had my PM broker put in sell orders for roughly half of my silver (2,469oz) and buy on 1oz. Maple Leafs. That will add around 32 oz of gold to the Roth IRA. Prior to the trade, my gold was accumulated at a averaged price of $2,008 and I have not been diversified into precious metals for more than about 4 years. Nuts! My broker strongly feels that the ratio has more room to fall hence his suggestion to only sell half of the Ag holdings at this time. I owe the financial manager, that doggedly kept suggesting diversification into precious metals, a very nice steak dinner. None of us anticipated that these investments would turn out to have this kind of meteoric rise.
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I sure did not.

10-15 to 1 was early 20th century.

50 to 1 in modern times.

Gold seems like a really smart play here in light of geopolitics and the general financial state of the west.

If the shortage issues are real (debatable) I suspect silver has a LOT more room to go--I'd hate to unload.
 
Yes, it seems the majority sentiment, including my advisor, feel that silver is still on the rise. However, my play is for the long game of turning silver/white metals into gold. I bought my silver bullion and coins at a greatly discounted fee compared to the current price so I ended up, after all costs, gaining around 18oz of gold 'free'. My PM group, Macalvany Precious Metals, has a lot of information/videos on their website as well as podcasts. How they play the ratios and avoid emotion in decisions is interesting. My portfolio is getting to the point that I probably would have considered it too PM heavy and would liquidate some metal for other investments but will hold for now since they think it would be wise. Keep in mind that they make money when I buy or sell, mainly, so they have no motive to suggest any move that they are not doing themselves in this family owned firm. I really like their style.
 
I live near Idaho's Silver Valley, which has produced more silver than any other region in the country. Most of the mines have been shut down for years, largely due to much-needed environmental regulations stopping them from dumping lead-laden tailings in the local streams and rivers. That was common practice from the late 1800's until the early 1970s.

But a few of them, including Sunshine and Bunker Hill (namesake of the nation's largest SuperFund site), are scrambling to reopen. Projections are that it will take another year or two; the lower several thousand feet of both mines are flooded.
 
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GaryM said:
But a few of them, including Sunshine and Bunker Hill (namesake of the nation's largest SuperFund sight), are scrambling to reopen. Projections are that it will take another year or two; the lower several thousand feet of both mines are flooded.
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I find that timeline extremely ambitious. Assuming that the mines have been abandoned and flooded for years if not decades to get the pumps, electrical mcc room components, grid tie in transformers (assuming that the area grid can support it which it probably can’t and will then need upgrades…spelled “years on it own”) not to mention environmental permitting (where is all that potentially lead contaminated water and in extreme volumes going to go? Not down kitchen sink…”I don’t know if you’ve met the guys in the waste disposal buisness, but I can assure you they are not the Boy Scouts” to quote Rodney dangerfield). Then logistics. Do they have a functional ore crusher and processing facility that can magically accept the increased through put of an additional major mining operation? Are there any just running at 10% capacity incase of a huge influx? To me 5 years is extremely optimistic, 10 years more realistic (and this assumes the old sump piping is still in usable enough condition to drain and keep it drained long enough to be replaced with a parallel system. But I’m a skeptic when it comes to sales pitches…
 
I just realized that quote is from a 40 year old movie… so for those not familiar..
 
Flatiowa said:
I find that timeline extremely ambitious. Assuming that the mines have been abandoned and flooded for years if not decades to get the pumps, electrical mcc room components, grid tie in transformers (assuming that the area grid can support it which it probably can’t and will then need upgrades…spelled “years on it own”) not to mention environmental permitting (where is all that potentially lead contaminated water and in extreme volumes going to go? Not down kitchen sink…”I don’t know if you’ve met the guys in the waste disposal buisness, but I can assure you they are not the Boy Scouts” to quote Rodney dangerfield). Then logistics. Do they have a functional ore crusher and processing facility that can magically accept the increased through put of an additional major mining operation? Are there any just running at 10% capacity incase of a huge influx? To me 5 years is extremely optimistic, 10 years more realistic (and this assumes the old sump piping is still in usable enough condition to drain and keep it drained long enough to be replaced with a parallel system. But I’m a skeptic when it comes to sales pitches…
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I quite agree, but miners are an optimistic bunch, especially when they are trying to attract outside investors.

If silver prices come back to earth in the meantime, I’d suspect a lot of these projects will be abandoned.
 
Mahneuvers said:
I agree w/ both recent points. The world has always been chaotic. However, it does feel we're at a crossroads where things will work out really well, or really bad.

Remember the chaos leading into Y2K? A friend took all the equity out of his house and bought gold. It didn't work out well for him.
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Fortunately I was still reasonably good at COBOL back then. Picked up a very lucrative side gig for a few months.
 
robin ardoin said:
Yes, it seems the majority sentiment, including my advisor, feel that silver is still on the rise. However, my play is for the long game of turning silver/white metals into gold. I bought my silver bullion and coins at a greatly discounted fee compared to the current price so I ended up, after all costs, gaining around 18oz of gold 'free'. My PM group, Macalvany Precious Metals, has a lot of information/videos on their website as well as podcasts. How they play the ratios and avoid emotion in decisions is interesting. My portfolio is getting to the point that I probably would have considered it too PM heavy and would liquidate some metal for other investments but will hold for now since they think it would be wise. Keep in mind that they make money when I buy or sell, mainly, so they have no motive to suggest any move that they are not doing themselves in this family owned firm. I really like their style.
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Sounds like you have a plan in place and best of luck to you.

I suspect gold will break 5K any day now and at that point, a substantial rise could be in the making. I suspect silver will be the faster horse, but I never bought enough to make any difference. Interesting, what I did order is still "in the mail". I think the good thing for those who have been in---most average American's are completely asleep at the wheel and have NONE. If the case for gold and silver enters into the public consciousness, a lot more money could be set to pour in.
 
Flatiowa said:
I have a gut hunch that $100 silver will happen (atleast briefly) a lot faster than anyone could have ever expected. (I would not be at all surprised if it happened this week).
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Silver just over $100 as we speak.
 
I don’t think silver is done moving rapidly (in either direction…..) but with it’s current ratio to gold I think it is now time to trade it up. Gold will be more stable, and I have a feeling that will be a common trend. Driving gold higher and silver lower and spreading the gap back out. $103? I do not think that accurately reflects industrial demands on physical holdings but is more speculative at this point. Industrial demand can disappear when it becomes unprofitable and then speculators will be left holding the bag. (Just the opinion of an uneducated rural Iowan…).
 
The small stash of gold and silver we have was acquired over several decades. Most of our discretionary investment funds went into IRA’S and individual stocks. But on a semi-regular basis we’d buy a gold coin or two or some mostly “junk” silver coins.

Here’s one such purchase - 161 junk silver dollars bought back in 2012:

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(I found appropriately sized PVC is a good way to store them)

There are a lot of beautiful Morgan silver dollars in the mix. But one assumes any with collector value have already been culled out, so basically they’re valued based on their 90% silver content and the convenience of their form factor.

I had to look up what the price was back in 2012, though I’m sure I have a receipt for them somewhere.

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Bear in mind, I don’t see these as “investments”. More like inflation insurance. Roughly tripling in value over 14 years is fine, but other investments could have done better in that time frame.

As an aside, believing in efficient markets, I’m not sure anyone can accurately predict where the price will go next, or that the ratios between gold and silver prices give any meaningful information. But good luck to anyone trading on that information.
 
GaryM said:
I quite agree, but miners are an optimistic bunch, especially when they are trying to attract outside investors.

If silver prices come back to earth in the meantime, I’d suspect a lot of these projects will be abandoned.
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And when that happens all the “mine investment group” stocks tank into toilet water value…?
 
You want to see crazy? I've been buying shares of SLVO. The dividends are insane. I know the value could tank at any time, and I keep a trailing stop order in to keep from taking a hit on it if (when) it does. But check the dividend. That $5.7888 dividend is for the month, not the quarter... do the math on that, it's not 23.86% annually. That's up from $2.60-something and $2.90-something late last year, but even that was pretty spectacular.

It's one way you can derive a little profit from the bonkers silver market without holding physical silver, whcih you can't dump quite as quickly as you can this. There's another one, GLDI, that's the same thing for gold. Basically paper speculation, as far as I can tell, there's no actual gold or silver involved. Hence the pretty aggressive trailing stop orders I keep open.

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FastEddieB said:
You might have posted the same thing back when the original post was made!
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Agreed. (And I think many did post to the same effect on multiple highs). It would be interesting to take a printed chart of the last 12 months of pm prices and begin reading the thread over from the beginning while cross referencing the two and see who has been correct and who has been incorrect.
 
Zeldman said:
I turned all my gold into lead...
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You’re sore about this decision aren’t ya.. (joking).

Edit: to be fair I have a couple hundred pounds of pure lead ingots myself. I cast my own bullets and figured lead is never going to get easier or cheaper to buy so stocked up heavy years ago.
 
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Half Fast said:
Gold and silver aren't the only options. Anybody looked at uranium lately?
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O- man, you just said the quite part out loud. The currently in vogue solution to overcome the energy needs of data centers (AI) is nuclear. I had been hearing rumors for about a year, then heard on the radio the other day that the long idled nuclear power plant in Cedar Rapids iowa was purchased and is going to be recommissioned by google to power a massive data center. The whispers amongst the pipe fitters is all the idled plants are being evaluated for being recommissioned and new work is in the early stages of rapid expansion.
 
Half Fast said:
Gold and silver aren't the only options. Anybody looked at uranium lately?
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Chocolate or cocoa beans. Can't find Hershey's Dark Chocolate Baking Powder anywhere these days.
$4,200 - $4,300 per metric ton for cocoa beans. Of course that's not nearly as horrible as the $8000/mt back in late 2024. Until late 2023, cocoa was around $2000/mt.

Cocoa - Price - Chart - Historical Data - News

Cocoa rose to 5,670 USD/T on October 2, 2026, up 5.37% from the previous day. Over the past month, Cocoa's price has fallen 8.16%, and is down 8.40% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity...
tradingeconomics.com tradingeconomics.com

Even Hershey's online store is out of stock!
 
Just saying, gold has had some very lackluster years.
 

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sourdough44 said:
Just saying, gold has had some very lackluster years.
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So has the stock market….but, look at the trend line. As a retirement vehicle, diversification of liquid assets allows varying the source of income from one vehicle to the other as the asset values fluctuate. If precious metals are holding an elevated value while stocks are depressed, then liquidation of PM’s for income is prudent, and vice versa. It is common for gold to hold value when the inevitable market corrections occur. It is why I aim to have at least 25% or so in gold when I retire, or start drawing some retirement funds, in a few years.
 
What caused the big volume spike in June 22? Similar in google. Nothing in apple.

20m -> 450m pretty much overnight.

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172andyou said:
What caused the big volume spike in June 22? Similar in google. Nothing in apple.

20m -> 450m pretty much overnight.

View attachment 149295
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Just a hunch but the “Postal reform act”…?? Contractual agreements with the government allowing Amazon to utilize the USPS for the “last mile” delivery? If I remember correctly that all happened about the same time. (I could be wrong).
 
murphey said:
Chocolate or cocoa beans. Can't find Hershey's Dark Chocolate Baking Powder anywhere these days.
$4,200 - $4,300 per metric ton for cocoa beans. Of course that's not nearly as horrible as the $8000/mt back in late 2024. Until late 2023, cocoa was around $2000/mt.

Cocoa - Price - Chart - Historical Data - News

Cocoa rose to 5,670 USD/T on October 2, 2026, up 5.37% from the previous day. Over the past month, Cocoa's price has fallen 8.16%, and is down 8.40% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity...
tradingeconomics.com tradingeconomics.com

Even Hershey's online store is out of stock!
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Gadzooks, that price curve trend for the past few years is “unique”… to put it politely.
 
Flatiowa said:
Just a hunch but the “Postal reform act”…?? Contractual agreements with the government allowing Amazon to utilize the USPS for the “last mile” delivery? If I remember correctly that all happened about the same time. (I could be wrong).
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Why did the same massive increase happen for Google? And, frankly, even if google didn't have something similar happen during summer 22, a USPS change doesn't seem likely to have increased amazon volume by a factor of 10 for three years in a row.
 
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