Im sitting at a hotel in Aspen for work bored as phuk so looking at Apmex with spot so low now. Gold seems to have come down some but Peace and Morgan dollar CULLS are still $32 and $33. There was a new 1 oz gold Apmex bar in the tamper resistant packaging for $1900 on sale. Damn that looks good but it could go lower. My wife says no we need a garage and i said yes, its FOR the garage. I told her we can even keep it in our cash envelope and sell it in a year or whenever (never gonna happen) if it makes her feel better. Im really eyeing the Mexican 50 Peso 1.20 oz gold but maybe the cheaper bar would be smarter. Ive been wanting one of those 50 Pesos for a long time now. Ill probably post the pic of it soon haha. When i let a woman tell my how to spend my money ill stop working and she can take over. "Theres always mommas house" is what i say and after 32 years shes still packing my lunches and keeping my coffee mug full and hasnt gone to mommas. When people ask me the secret i tell them to find a good squaw or Eskimo girl. They make great wives and mothers, they age well and they actually like men. Mines of the Cherokee breed with a little German mixed in for meanness hehe. Ok back to the peace pipe. Gnite.
Well the silver chart looks depressing.... (I'm front running midnight to 6:00AM here in Australia so I don't have to wake up).
Saving cash is depressing. I've been holding back stacking over the past two years and would love the opportunity to acquire more at a lower price. If we get to the $17USD range, I'm going to pounce on that. Many primary silver mines have a declared AISC around this range or higher. The longer we stay under $30USD per Oz, the less incentive there is for exploration and new mine developments. Mine supply alone hasn't been sufficient to meet global demand for decades. Primary silver mines have been a crucial component of global supply and byproduct mining only accounts for 50-60% of annual demand. So the charts only look depressing if you don't intend to acquire more at lower prices. Otherwise, the charts look great!
A $30 drop in Gold and a 40c drop in the silver price isn't yowzers. That's just typical market volatility in a daily chart. Gold and silver can make those moves from the AUD/USD exchange rate alone.
Maybe so, but you have to admit that the price momentum is all to the downside at present, and we have not even seen a proper correction in stocks/cryptos as of yet. If it was not for the recent near 10% drop in the Aussie Peso, we would already be down to $2400 gold and $20s silver. Depressing times in the metals for sure unless you are cashed up and looking to buy. I think I'll join the catfish in another round of drinks, might make the price look a little more respectable
