Which metal to hit $5k usd first? Just a fun poll. I don't really have an opinion, just want to see what's the public view.
GOLD! I think you meant which metal next sgbuyer, ( Rhodium has been there done that on more than one occasion ) I can't see either Palladium or definitely Platinum reaching those dizzy height ahead of gold, as that would require a booming world economy and record automotive production and sales, something I cant see happening in this decade. A 100 oz silver is also a possibility as gold might be perceived as being too expensive by the masses, once it gets past the two or three thousand US dollar barrier, causing silver to outperform gold.
Not sure, thats a hard one but 100 ounces of silver has got the closest to that number. At around $4900 usd in the past Both gold and silver could get that high if tulip mania kicked in. So which one would get their first? I couldnt even guess
The action in the last month or so shows that Silver is a much smaller market and if the speculators pumping Tesla turn to Silver - and they haven't done yet, Silver can shoot over $50 in a blink of an eye. Not saying there won't be a pullback, it works both ways. But if there's a big pullback, it will be a no brainer almost risk free punt.
will the market of metals be open for trading ? since USD would no longer be legal for any exchanges outside the USA oil is freely traded in any currencies Northstream 2 has been sanctions and ignored (Russian gas sanction) followed by consulates closures Huawei sanction followed by consulate closure Tik Tok/Wechat sanction we are picking a winner rabbit, Palladium would touch 3k first and 5k first
Agree with you there sgbuyer, I was considering selling some of my silver and converting the fiat into gold these last few days, but now I am thinking that might not be such a bright idea. With silver being such a small market, and going by the past two parabolic price rises, it is possible that silver could double or even triple within a matter of months if the mania really takes hold. Whereby I can't see the same thing happening with the gold price in such a short time, unless there is a sudden reset of the monetary system, or some other unforseen black swan event.
There's actually no shortage of Pd. Russia hoards Pd to ensure high prices. But too high a price will mean substitution by Pt, so I don't think it will hit $5k.
I'm not selling any physical silver as it's too much trouble for me to buy and store them. But I had the urge of selling off the SLV I bought in March on Friday and Piroco's decision to flip his stack made me consider this again. Short term, a correction is needed, but medium term, silver is going up. In the GFC, silver took 2.5 years to reach the top from the crash, and we're only 5 months into the present crisis.