Precious Metal Prices Rising
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Precious Metal Prices Rising

This is a discussion on Precious Metal Prices Rising within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; I've been keeping my eye on the prices of Gold and Silver recently, partly due to having some extra money that I'm wanting to put ...

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Thread: Precious Metal Prices Rising

  1. #1
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    Precious Metal Prices Rising

    I've been keeping my eye on the prices of Gold and Silver recently, partly due to having some extra money that I'm wanting to put into those. They both have been increasing quite quickly. Gold has been increasing in price by $10-20 per day. Might be a sign that people are starting to worry a little.

  2. #2
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    The stock market took a beating today. They blame the cornhole virus, when stocks go down, precious metals go up....usually.....
    Denton, Smitty901 and MountainGirl like this.

  3. #3
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    Quote Originally Posted by mastermclaster View Post
    I've been keeping my eye on the prices of Gold and Silver recently, partly due to having some extra money that I'm wanting to put into those. They both have been increasing quite quickly. Gold has been increasing in price by $10-20 per day. Might be a sign that people are starting to worry a little.
    Buying due to this isn’t the most prudent thing. Not unless you are a short term trader.
    rstanek and jimb1972 like this.
    "Reality is almost always wrong."
    Dr. Gregory House

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    I was wanting to put some money into it regardless.

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    Quote Originally Posted by Denton View Post
    Buying due to this isn’t the most prudent thing. Not unless you are a short term trader.
    Quote Originally Posted by mastermclaster View Post
    I was wanting to put some money into it regardless.
    You buy and low sell high if you are investing, common sense 101. However, precious metals are best used as a hedge against a fiat currency. You should be buying silver at or around $14.50 and gold around or under $1100.

    You would be best served listening to Denton.
    I will choose to enjoy the journey that God has prepared for me. Hidden Content

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    Gold and silver are good prepper items to me I am a believer and so long as my essentials are met I’m glad to buy the routinely regardless of temporary market changes. Yes I sold a bunch in 2011/12 because that $40 plus an ounce was sweet off a $5-6 an ounce investment in the 80’s/90’s. Now I’m too old sell I just buy to preserve what I’ve built up.

    I would probably stop buying at $25 silver and already have stopped on gold.
    Crunch and Denton like this.

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    When the spread of the virus slows down bullion prices will probably fall back slowly to the 16-$17 range over the next year. This assumes that a democrat doesn't win the next election. I'd be more tempted to sell than buy at this time.

    Just my uninformed opinion...
    Last edited by Elvis; 02-25-2020 at 03:09 PM.

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    Gold is a hedge, not so much an investment. One could make an argument for silver as a long term investment: the industrial uses of silver keep consuming it, and we only pull maybe 850,000 ounces out of the ground a year.
    Denton likes this.
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  10. #9
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    silver is down again
    Denton likes this.
    Be a Berean

 

 

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