Making money in silver, other PM

[500mag]

I bought some gold around Y2K, at the time it was selling for about production cost. Today it is selling for what it costs to dig it out of the ground and refine it..... production cost.

Production cost is directly linked to price of oil, oil prices falling means gold won't be rising soon.

Huh? Gold trades mostly on emotion (fear and greed). Supply and demand and productions costs, of which price of oil is but one factor, are minimal influences. If you want one factor which correlates mostly with the price of gold, it is the national debt.

 

[jeep78]

Huh? Gold trades mostly on emotion (fear and greed). Supply and demand and productions costs, of which price of oil is but one factor, are minimal influences. If you want one factor which correlates mostly with the price of gold, it is the national debt.

 

[jeep78]

Emotion has nothing to do with cost to dig a ton of ore and refine it.

Emotion causes short term panic pricng.

 

[500mag]

Emotion has nothing to do with cost to dig a ton of ore and refine it.

Emotion causes short term panic pricng.

Correct. But we were talking about "trading", not production or even investing for the long term.

 

[chucklenut]

Emotion has nothing to do with cost to dig a ton of ore and refine it.

Emotion causes short term panic pricng.

Id agree except more gold/silver is traded than physically exists

Real production volumes are ignored by many investors who operated on projected figures for electronic securities trading

 

[500mag]

Id agree except more gold/silver is traded than physically exists

Real production volumes are ignored by many investors who operated on projected figures for electronic securities trading

True - the price in dollars is set by the Comex, or Crimex as it is commonly known, as there is more than 100oz of paper gold for every oz of phizzy. The whole purpose of the Comex is to suppress the price of PMs (through short sales) in order to maintain the CONfidence in the dollar. And, it is NOT going to change until traders start standing for delivery instead of rolling over paper contracts.

 

[chucklenut]

True - the price in dollars is set by the Comex, or Crimex as it is commonly known, as there is more than 100oz of paper gold for every oz of phizzy. The whole purpose of the Comex is to suppress the price of PMs (through short sales) in order to maintain the CONfidence in the dollar. And, it is NOT going to change until traders start standing for delivery instead of rolling over paper contracts.

You are right about that. Folks should Ask the hunt bros how that worked out for them lol

They played by the rules; sec changed the rules

 

[jeep78]

Trading is also known as flipping. No different than selling 22lr during the panic except you do not have to stand in line at walmart at 0630.

Also, trading is not done with physical gold. And price fluctions can be manipulated by industrial investors, those market manipulations are not for your benefit. But if you pull the trigger at the right time (0230 thurs morn on an average week), you can score.

 

[palmettomoon]

I'd thought of buying some gold myself but would pay the premium for specie rather than buy paper. You'd do that if you planned to hold it in case of emergency right?

 

[CPA9mm]

I'd thought of buying some gold myself but would pay the premium for specie rather than buy paper. You'd do that if you planned to hold it in case of emergency right?

I have done a little of that for the same reason that I have more ammo than needed for my range trips. I don't plan to flip either.