flower-shilling

$̴3̴2̴0̴0̴ $̴3̴50̴0̴ $̴3̴70̴0̴ $3̴90̴0̴ $4000 Gold!

Smithys Bullion - FINE GOLD AND SILVER
I think it touched $3900, eased off a bit now though. Amazing strength in these moves up in the space of a few months.

Spot for a sovereign is now $916+, only back in June I recall buying sovs for $800 thinking they were expensive at the time.

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We gave $3900 a quick kiss when the AUD/USD dumped briefly.

Gold is certainly taking the stage at the moment. It's reached the point where the liquidity of 1oz or more has taken a significant hit in the private market based on the price rises alone. I mainly gobbled up 1/10 Oz coins when I could get them close to spot or at a slight premium for this reason.

It's definitely the age of PM's right now and I don't think we've seen anything yet.
 
I remember the $250 an Oz Gold days. Gold has proven to be one of the best investments to date, and one of the few options with no counterparty risk. I bet if you told someone back in the $250 days that gold will reach $4000, it would be just as unfathomable as the claims today that gold will hit $70,000 in the coming decades.

Long live Gold!
 
Because I'm so silver heavy, I sometimes forget I have Gold. But when you add it up at $4000 an Oz, it's a crazy amount of $$ to have in such a small package.

I bought silver because I saw more potential, and I liked the fractional liquidity options more than gold. But most of my purchases of Bullion were at the very bottom of the market in 2018,19 and 2020. The increase in both metals would be around the same from a ratio standpoint, so it's worked out pretty well.

Historically, we've seen Silver piggyback off Gold's surges but this time it's been lagging. I wonder if Gold will get a surge from Silver when silver takes off?
 
Don't remind me about $250 gold. I actually worked in some gold mines in the eighties and nineties when AU$400 an Oz was the price to make some mines financially viable.

My ancient aunty around 60 at the time used to talk about gold being real money and that I should buy some. I remember telling her that gold was just another commodity metal, because that was what I was reading. I am still ashamed about that.
 
Silver crashed back twice around the $20aud mark in the past 12 years or so while gold had a couple of correction but it only knows one way and that is up. I expect silver to crash again-you heard it here 1st 😁
 
STKR said:
I remember the $250 an Oz Gold days. Gold has proven to be one of the best investments to date, and one of the few options with no counterparty risk. I bet if you told someone back in the $250 days that gold will reach $4000, it would be just as unfathomable as the claims today that gold will hit $70,000 in the coming decades.

Long live Gold!
Click to expand...
better to know the background, its not likely for most people to be buying at the bottom, that bottom belongs to Mr Brown, who was a SELLER
why are people not buying at that time when price was $250, looking back...most people who own gold before that, they were in a 20 years of BEAR market.
so everyone you can ask about gold, they are bad investment, it is holding at a LOSS
looking back, gold peak out around 1980's at $850, interest rate was raised to 20.5%
what cased the gold run was the temporary suspension of dollar convertibility to gold in 1971

back to 2000, gold was still looked down...remember that bond still paying good yield and were in HOLD TO MATURITY basket
only in 2005, we are at 450, almost double and getting notice, the trend turn is confirmed and moving up to 2011 first all time high

if you buy at 850 for the right reason and holding to now, still in the money
if you bought it for 100 even after the first 3x, good money
if you bought it after 1000, now 2.5x, good money

gold only went to 1050 after the 2011 peak, most people would believe gold was in a bear market...until now the bear was wrong again

gold is in direct competition with the green back, after the Russian 300+billion got stolen, the trust in the dollar was completely lost
many governments will let their bonds converted to treasuries and let them matured and converted to GOLD, there is no need to sell their USD BONDs anymore lol, they just buy more gold
these buying keep the gold demand strong and keep the poor guys chance to buy the low impossible
 
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