I can imagine how you feel. But I think in a later phase, you'll be happy to own some gold. Cash, and objects of vital necessity will stay important right now. But, gold is already climbing now. Perhaps it's just breathing. I still don't exclude a shoot-up above 2,000 $ this year. After all, PM's also need to "breather".
that is the crazy talking SILVER IS MINED AS A BIMETAL TO OTHER PRIMARY METALS FOR THE MAJORTY OF SILVER -- THE PRICE CURRENTLY IS FAR FAR FAR HIGHER THAN THESE COSTS silver is not where you want to put your money trust me this is a once ina decade buying opp in the share market you dont want to miss
Well, I agree with what you're saying but I'm not skillful enough nor do I have insider information to trade in this current market. I made a small buy over a week ago and it has gone down 40% in less than 10 days. As I trade through a broker, I think my broker is already laughing at me. I can't even DCA downwards, because how to know if the stock won't be diluted or get bailed out? It's not like silver or gold, where I can DCA as it falls, and it will come back in the future. Stocks don't work that way. It can fall all the way to zero. I think I would wait till the government bailouts begin and buy the surviving stocks that haven't gone bankrupt. In the meantime, buying silver is just for fun and to pass time. I mean, this is why we're on this forum in the first place? Forgot to add that I bought silver and gold to hedge against the possibility of bank failures and capital controls, however remote it is, is not zero.
Not sure how closely you peeps follow financial news in the USA, but it's starting to feel like 2008 again for me. Burgeoning liquidity crisis threatening credit markets and money market funds. Demand shock in physical gold/silver markets (dealers running out of inventory). The Fed shooting bazookas almost daily now. I've got to wonder how many fingers the Fed can plug into the dam before it breaks.
Oil is at 22.50 $. Just a few hours ago it was above 26 $ and I thought 25 $ would be a record. Gold correcting upwards. As recession/crisis kicks in, gold will climb. Many gold dealers are experiencing high buying. Or, they're lying because it's in their disadvantage to sell gold for less than they bought already. I am watching the trends: many European countries are forcing "all businesses, shops" to close down except pharmacies and food stores. What this means - my ideas: - Banks: 1) banks will close, 2) then the recession hits, 3) negative interest rates/bail ins/money blocked in banks etc., 4) people become wild dogs as they can't take their money out, 5) cash ban: even if you took it out, you'll be constrained to somehow get rid of it, because "money is contagious" <<< so well thought out, right? If you didn't take your money out of the banks, then it's kind-of late in some countries. In others, you still have days, probably a week or so left. - Oil: 1) oil dips, 2) this slams the US' enemies: Russia, Iran, Syria, Venezuela, China, but also the US (petrodollar) and Saudi Arabia 3) multiple economies collapse (Saudis, Russia) and the petrodollar system collapses too (unless trade holds the US dollar together, it too will collapse) and many big cities and entire countries become Detroits 4) riots, anarchy, total chaos, war? (regional or within countries... either way, uncontrollable, not even the UN or NATO will have a say, because it will become an "everyone for himself scenario" and there will be too many conflicts around the world, while the major powers will all be in deep crisis) Gold did take a dip, but it will climb as everything else falls. I think. Probably some countries will indeed create a new gold standard. What I think could save us from the grim scenarios: - if the Corona spread reaches its peak until April and starts dipping until May: less infected, less dead and at least the developed world starts to "breathe" again (probably not Africa and India, but hopefully they too) - industries, transportation, tourism re-start (with many bankruptcies leaving space to the companies that survived) >>> most economies survive, but in recession and with severe financial/social problems, others become Venezuelas - there will be no full recovery, but a slow agonizing survival without war, without extreme crises and without millions of dead.
Terrible truth about how dangerous the Corona pandemic really is - just check the Italian facts (Wikipedia): 35,700 infected and 2,978 dead Death rate: 8%! That means, every 12th person who caught it died! Not to mention the suffering of most others who barely made it.
You would have to think they are only testing properly those that are presenting very ill atm to have a toll that high.. who knows anything right now, eh
Italy have the 2nd oldest population in the world their death rate was going to be higher than the rest
That is one explanation I've heard in mainstream media. But they should have an excellent medical system. Eastern Europe and Central Europe will be heavily hit, if this spreads.
It's a plausible explication though south Korea with a similar level of quality on the medical system has a lower death toll % wise
Death rate in Singapore is still 0% if it is to be believed. But I wouldn't focus too much on death. Critical is 5%. Some of the 5% may well be in coma. By the way, it's very difficult to get tested here. They won't test you if you have only flu symptom or fever for less than 5 days. Case Summary in Singapore (as of 18 Mar 2020, 1200h) ACTIVE CASES 196 Hospitalised (Stable) Hospitalised (Critical) 181 15 Death Discharged 0 117
Still no shortage of gold in Singapore. Yes, a dozen or two kilobars and hundreds of 100g bars sold daily, but new supply keeps coming in from Switzerland every couple of days. I've been watching the kilobar and 100g bar inventory movement SINCE mid-January. However, Silver, IS ALMOST GONE! Not much left. Maybe 10% of stock left in entire Singapore if you search the smaller dealers. Don't see any sign of new supply arriving. This 10% , which is being sold at a crazy 20-40% premium for kilobars, won't last until next week. I've always believed that there is less above ground silver than gold and now we are starting to see it happening before our eyes how little silver there is in the world. Some simple calculation: Gold - above ground 190 tons, 48 million per kilo - 9 trillion usd. Silver - above ground 110 tons (bullion/coins), $400 per kilo - 44 billion usd.
I'm stunned. Tried ordering meals online and all websites are either postponing delivery by at least 14 days due to overflowing online orders. Many sites are stopped. Many products are sold-out: vitamins, food, hygiene products etc. Can't order anything online. ZERO. Except from abroad (which I haven't tried). Shops are half-empty. Even canned food is getting scarce.
Peter Schiff: QE4 is going to be bigger than the first three combined, but it's going to be worse this time PM's will start climbing upon the launch of QE4. This is going to be a good window of opportunity to buy more. I think. Despite what people currently say. Still: focus on gold, not silver.
