Depends how heavily "in" metals one is as to how much one feels the rise & fall of AUD...to a certain extent anyway. I do agree however I view prices/cost of pretty much everything in ounces of gold or silver....a shirt, 2-3oz Ag, a cheap second hand 1980's Benz 2oz Au Being involved in metals has changed how I look at all the trades we make on a day to day basis.
As for you.... FOR SHAME!!! Every stacker worth their salt should know about Silver Tuesday, the Bunker-Hunt Brothers (and some shady Saudi's) attempt at cornering the PHYSICAL silver market. The big point I took away from their experience was that if you become a risk to the status quo, the powers that be will just change the rules in order to nullify the risk. Basically, the only people who win, are the ones that write the rules and those smart enough to make the rules work for them.... without having them work TOO well.
Fair bump...play on Interesting that the "astronomical" peak of $50 that silver hit 40 years ago (when Gold first peaked at $850USD ) wasn't matched back in 2011 when Gold next "peaked" at ~$1900USD (112% increase in Gold's price, doubled and then some ) and still hasn't come close while gold has been hovering around $2100USD (twice )...I'm not a trading analyst but "Cup and Handle" springs to mind and Silver definitely has room to move
Both metals are long term plays .... If you're going to look at it as an investment, In most cases it works best to think on an intergenerational basis... building wealth for your kids but I think if you're getting involved in metals, you have to be prepared to have your funds tied up for around 7-10 years in order to sell at an optimal time to get the most out of your investment. I think most of us will agree however that we have no intention of ever getting out of metals completely. For me, it's an ongoing thing... It's how I store & save money, the growth in dollar value is less representative of material gain than it is of metals ability to retain its purchasing power despite the dollars ever faster rate of devaluation. In other words, I don't see metals as an investment that gains value but as a way to protect my savings from inflation, rises in the cost of living, tax grabs etc.
UK rate hike. == The Bank of England has raised interest rates to their highest level in 13 years as it looks to tackle the cost of living crisis gripping the UK. It announced an increase from 0.75 per cent to 1 per cent on Thursday, a level which has not been seen since the aftermath of the financial crisis in early 2009. The Bank of England’s Monetary Policy Committee (MPC) voted in favour of the rise with six votes to three. Those who opposed it - Jonathan Haskel, Catherine Mann, and Michael Saunders - wanted a larger increase to 1.25 per cent, the central bank said. It was the fourth time in a row the committee has voted in favour of an interest rate hike, as the UK grapples with soaring inflation driven by rising energy costs. In its report on Thursday, it also warned the economy will go into reverse and inflation will peak at more than 10 per cent as the Ukraine war compounds cripppling living costs. https://www.independent.co.uk/news/business/bank-interest-rates-uk-live-inflation-2022-b2072034.html
It seems that the banksters' ploy of putting lipstick on the economic pig and pretending that it is something else didn't fool everyone for very long. The Dow is down nearly 1000 points and most fiat currencies are down about 2%, except of course for the Russian Rouble which is powering along up another 2% today. The sad fact is that the economic and financial lesson in that is beyond the comprehension of most dwellers on this prison planet.
The gold backed Rouble will gain even more strength and acceptance once the gold back Yuan comes out. Sounds like a great trading currency to me. Much better than the Petrofiat.
^^^ Ag drop on spot isn’t reflected against current market yet…as dealers are not updating their prices on FS bars down…yet… can’t wait too much longer…gotta…b…u…y…sil…ver.
US spot just hit support level at ~$21.50 and ~$30.50AUD at 6am, I pulled the trigger this morning on a decent qty.
The drop in spot is in direct opposition to the silver supply. Therefore be careful flipping at lower prices as you may not be able to replace it. Finally, the AUD is below 70c so should it start rising prices will be the cheapest for little or no silver supply.
I stopped by a seller in Brisbane yesterday and enquired about prices. The were selling a standard 10 oz bar for $372.50.
Not a bad time to buy imo but we can look back in a few years and decide if it was. I need to build a garage/shop so im saving cash for now but if we have a crazy drop (and physical follows like 2020) i will probably buy and not be able to resist like usual. The last 7 or 8 years ive been selling my fiat for metals as soon as i get it and now saving in cash form goes against everything and its so dang hard haha. To be honest, if physical drops much below $25 here in the US ill be ready to drop a little fiat on that. I can't lie and the temptation will win.
