Precious Metals to Tank?

Discussion in 'Currencies' started by sammysilver, Jun 7, 2022.

  1. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    https://www.smh.com.au/business/mar...henomenal-trade-says-ubs-20220606-p5arfq.html

    “A slowing US economy and brisk growth in Australia will trigger a rally in the Australian dollar to levels last seen more than a year ago, UBS Group AG’s head of currencies in Asia said.

    After rebounding from a two-year low set last month, the Aussie could rise 11 per cent from that level to as high as 76 US cents by the end of December. The Swiss bank sees potential for the currency to climb to 78 US cents by the end of the first quarter next year.”

    It will be a race between the AUD and spot. As an investment, US spot will need to rise faster than the dollar. As a buying opportunity, US spot can stay where it is or decrease.

    Where do you sit? Buyer, seller, investor?
     
  2. MLP

    MLP Active Member Silver Stacker

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    Personally I would sit on what little I have and buy more, if, and only if I had spare money. I do not think silver and gold are an investment, they do not make money, but a long term savings plan. To me unless you by at a crazy highs like the 1980 silver price spike, over 20 - 30 years they keep pace or beat inflation. I would never spend money on PMs that I realistically may need in the next few years.

    So to answer your question "buyer". Small time yes but a buyer.
     
  3. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    I’m all three, as a flipper I buy and sell for a small profit and use that profit to increase my investment stack.
     
  4. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Will be hard pressed to find anything at reasonable premium in this scenario
     
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  5. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Hit my stacking goals a while back, even had enough to sell when it briefly hit $40. Now I am just biying the odd ounce to give as birthday presents.

    If the Aussie Dollarydo gets to parity with the US$ I might start buying from the USA again but as it stands, I am just going to see how it plays out.
     
  6. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Weren't we at 76 cents or above only a few months ago?

    If we go back there I hardly think it will make the metals thank, might bring gold down to about 2500 or a bit below.

    Besides, we now have the incompetent Labor in power.

    If you thought the Liberals were no-hopers, watch this lot go and destroy what is left of the Australian economy.

    My bet is that the Aussie Peso will go down into the 60s and stay there once Labor starts splashing the cash around [which they don't have]
    like a drunken sailor on shore leave.
     
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  7. 66rounds

    66rounds Well-Known Member Silver Stacker

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    It’s about who can devalue faster, FED vs ECB vs RBA. I doubt we can compete with the stupidity of the fed and ecb
     
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  8. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    The FED has already created so much fiat currency out of thin air in the last 3 years that the UD$ should be technically worthless.

    But it is not, and not only that, it is valued more than most other fiat currencies.

    That will remain the case for the foreseeable future, while it remains the world reserve currency and is backed by the military-industrial empire with
    It's 900 odd bases around the globe.

    What is the Aussie Peso backed by?

    By holes in the ground [mines] which produce most of our exports income.

    When the recession/depression decimates the demand and prices for our exports the Aussie Peso will find its true value.

    And that will be the time you will be glad that you have physical metal and not paper or digit money.
     
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  9. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    ^ AUD is a commodity currency, if the demand for commodities rises the AUD will also rise. USD is a financial currency backed by the strength of the US financial/economic system. The first is a risk-on currency, the second a risk-off.
     
  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    The dollar wont go much higher than it already has been.
     
  11. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Got to clarify usd or aud
     
  12. Ag bullet

    Ag bullet Well-Known Member

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  13. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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  14. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    I was there during Desert Storm with the 24th Infantry and we used that highway for almost 50 miles with Cobras, Apaches and A10 Warthogs just ahead of us clearing the way.
    It was mostly civilians trying to flee Baghdad and very little military vehicles. Thousands of people were walking down that highway after we blew everything and everyone up and we left the rest to the wild dogs to clean up.

    I couldnt eat a rack of ribs or even SEE ribs for 20+ years after that and i couldnt have imagined that carnage or the smell of death so strong.

    Even tho they assured us it was for freedom and democracy those images still haunt me.
    Those people just wanted out and werent part of any fight.

    I wanted the military experience but i never signed up to do that to women and children.
     
    Last edited: May 12, 2023
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  15. heartastack

    heartastack Well-Known Member Silver Stacker

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    Bullish tank!!

    upload_2023-5-12_11-40-19.png
     
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  16. Peter

    Peter Well-Known Member

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    Gold is due for a top by middle 2022. It may have already happened, but until it falls below 1500, I think it will have another run by mid-2022 to new highs, and then lose 50-90% of its value 2-5 years later.

    Silver… my target is 35.00 +/- 3, and if it gets above there, the sky is the limit.

    I see both metals making another low by May 2021, and then the next rally starts, but ends by mid-2022. For Gold, the bottom may be 1600 +/- 100; for Silver 19.50 +/- 1.50. And then another rally, probably the last before the big decline.
    Mma.
    Astrolgical predictions
     
  17. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Go easy on those magic mushrooms Bro!
     
    Last edited: Oct 18, 2023
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  18. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Sorry off topic but:.....I'm not questioning the number of innocent people who died on this highway but for all the carnage in this image, one thing strikes me as strange.....with all the damaged vehicles piled up, the road looks undamaged....
     
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  19. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    The road wasnt too bad, mostly just 50 cal fire to disable any military vehicles or whatever else.
    I actually felt a little sorry for the pows we took. They had no idea America had come and many still thought they were fighting Iran and had never been told different!
    They were practically starved and thirsty and couldnt give up fast enough which was fine with me.
    We only got into a few small scuffles that didnt last long and never had much resistance at all.
     
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  20. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

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    I dont know how theyd suck enough out of the system to bring gold down to $200 but it doesnt sound realistic.
    Especially with more inflation on the way and endless printing for the future.

    Thats something i might expect from Bitcoin, but gold?

    Where would the dollar gain the strength to push gold down?
     
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