Golden Highs 2020

Discussion in 'Gold' started by STKR, Jul 23, 2020.

  1. STKR

    STKR Well-Known Member Silver Stacker

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    Gold has surpassed it's all time high @ market close and is primed to break it's record high of $1917 (I've seen reports of $1920.30) USD. This is a pretty exciting moment to be a stacker. Go the mighty yellow pet rock! Where she stops? Nobody knows.
     
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  2. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    So i guess we have a chance to snag that 1/1000th Utah Goldback :)
     
  3. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Exciting times to own metals, whose still buying? Im happy to say that I am still buying for now.
     
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  4. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    i am still buyng, but more so the Yellow stuff
     
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  5. heartastack

    heartastack Well-Known Member Silver Stacker

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    Buying physical silver aggressively up to $50 for now. Low on gold but silver leverage is my strategy this round. Gold exposure through stocks.

    I’m going the max risk max reward strategy which suits my age/life position. If she ‘moons’ then the 10 years of stacking will give me more than that in years of freedom. Let’s do it!
     
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  6. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    I am greying now so i should take less risks but you only live once, if spot goes to $50 i think i will still be buying but obviously would have to slow down on the number of Ozs that i buy per month
    When i look at it i am already paying $50 or more with premiums on certain bars and coins
     
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  7. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I think you mentioned what's most important, age/investment lifespan. The young should be buying no matter what spot is right now. Those closer to retirement should think harder about where they spend their money.
     
  8. Ag bullet

    Ag bullet Well-Known Member

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    Got to be a f#%&ken conspiracy! Just get 2nd round of covid super and gold goes to a new high. Wait for a pull back or is there going to be no pull back??????
     
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  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Buy half now leave half for later?
     
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  10. STKR

    STKR Well-Known Member Silver Stacker

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    I like Tokyo and his chart analysis a lot. He mentioned there could be a pull back to $2300 AUD as per Fibonacci retracement. Something to keep in mind. However, I've been buying some premium gold coins for my collection - more specifically Perth swans. I've also been buying smithys Bullion to add to my collection.

    I've exceeded my silver stacking goals for the year already in the march pullback. It's hard to justify buying silver now when I was able to buy around the $20 mark.

    Gold is still appealing. We haven't really entered into a financial crisis completely and historically gold has performed well for years after a crisis has confirmed. 2008-2011 wasn't a short run. I think the average recession lasts for 11 months? The GFC was over 2 years and a depression can go for much longer. I'm expecting a depression....but I'm well into Conspiracy "theories" and firmly believe this is a Plandemic to bring down the global economy and usher in a new Monetary paradigm. Holding $$ could be one of the worst moves in this environment. That's my 2 cents. I'm expecting a big event in 2021, but that's pure speculation. I plan for the worst, expect the best and move on with my life.
     
  11. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    I wonder what will happen to the good old saying, Cash is King

    Maybe cash is trash?
     
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  12. STKR

    STKR Well-Known Member Silver Stacker

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    It's awesome to be on this forum while we are nearing all time highs in gold. To potentially make history while being involved in conversation with like minded individuals. A big cheers to SS!!
     
  13. hardyakkagold

    hardyakkagold Active Member

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    If its money that you won't be needing for the next year or so then go all in @Ag bullet,
    there is a better than even chance that there will not be any sizable pull backs from these prices.
    I have just sold a stack of bullion sovereigns for over $720 each and am in a mad scramble to replace them
    with uncirculated ones through online auction bidding.
    But it is tough going as all this super money is driving the auction prices up insanely, and the higher prices now
    are not helping things either.
     
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  14. STKR

    STKR Well-Known Member Silver Stacker

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    Cash is trash has a nice ring to it.
     
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  15. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    I agree, as i was typing i had a light bulb moment:)
     
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  16. Ag bullet

    Ag bullet Well-Known Member

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    The covid super is certainly not required for immediate needs and I'm treating it strictly as long term savings just like super itself.

    I remember buying my 1st ounces for AU$1408 several years ago. Those were the days.....wish I had of bought more but was having the house built at the time.

     
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  17. STKR

    STKR Well-Known Member Silver Stacker

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    From what I've researched, the average cost to mine gold globally is around $1100USD per ounce. The average mining ratio between gold and silver is 1:8. So even if gold pulled back, I doubt it would go below $1100 for long, if at all, and when silver becomes more scarce in 10+ years, one could reasonably expect a fair value price of $130USD due to demand.

    I think where most people get it wrong with PMs is the short-term expectations. I still think $22USD is crazy undervalued when looking at the long-term outlook for silver. But then there's the argument that buying lower will increase your Oz count and be far more beneficial. History has shown that FOMO'ing into the market rarely pays off. But... This time may be different..
     
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  18. Michael Stevens

    Michael Stevens Well-Known Member Silver Stacker

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    Sorry to burst your bubble but someone's already beaten you to this one........in fact he's pretty famous!
     
  19. Boyscout

    Boyscout Well-Known Member Silver Stacker

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    Damn i have never heard it but i will take your word for it, i spend most of my time under a rock.... searching for shiney metals:)
     
  20. STKR

    STKR Well-Known Member Silver Stacker

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    You've taken the crown as far as I'm concerned. The context was likely the most relevant it's ever been, so.. :p
     
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