Gold and Silver?

[Man]

Is it doing what it should be doing during times like this? I am ignorant to the market, but I thought with the economy the way it is that would cause a huge demand in people wanting to stockpile it as alternatives to tanking 401's and the likes causing it to go up. But doesn't appear that is the case. Am I reading this wrong? Curious from you folks in the know.

[RiverRat1]

It is not doing what it should be doing.

My wild guess is once markets hit bottom Gold and silver will lead the way higher for a short while. It's not like inflations going away anytime soon.

But, that being said, those who avoid precious metals sure have not missed out on anything. So trend is to stay clear.

[91cavgt]

Is it doing what it should be doing during times like this? I am ignorant to the market, but I thought with the economy the way it is that would cause a huge demand in people wanting to stockpile it as alternatives to tanking 401's and the likes causing it to go up. But doesn't appear that is the case. Am I reading this wrong? Curious from you folks in the know.

The same thing happened in 2008. It was not until the drop was well under way that gold and silver started to rise.



Keep one thing in mind. Silver and gold prices are heavily manipulated. So don’t always think that their price is a direct correlation to how the economy is doing. Most folks also believe the mainstream media, and those are the ones that are always late and loose their shorts. There comes a point when it is difficult to maintain the fake front, and that is when prices start moving.

If you do invest in precious metals, DO NOT invest in paper. Always invest in the physical that you hold in your hand. Personally, I like copper. It is cheap right now, but with green energy expanding at an ever growing rate, it won’t be cheap forever. There is also already a shortage of copper. So, it has the potential, percentage wise, to increase higher than gold or silver.

[Walker]

I see gold and silver as a way to offset inflation but I don't see making any money off them.

[kerrbow]

I would buy if you are able to right now. It may continue to drop but eventually when things go into a recession something beneficial will happen with it. You are seeing people that are looking to buy on different forums.

[kerrbow]

The same thing happened in 2008. It was not until the drop was well under way that gold and silver started to rise.

If you do invest in precious metals, DO NOT invest in paper. Always invest in the physical that you hold in your hand. Personally, I like copper. It is cheap right now, but with green energy expanding at an ever growing rate, it won’t be cheap forever. There is also already a shortage of copper. So, it has the potential, percentage wise, to increase higher than gold or silver.

This. PHYSICAL metals are the best way. YOU HAVE CONTROL.

[orchard]

https://mexicobusiness.news/mobility/news/armed-group-steals-20-containers-gold-silver-manzanillo

word on the street is that it was 12 Billion worth of gold.
That's with a B

[Artos]

I would buy if you are able to right now. It may continue to drop but eventually when things go into a recession something beneficial will happen with it. You are seeing people that are looking to buy on different forums.

I've been reading / enjoying novels discussing shtf from different scenarios & found it interesting various authors have similar views where regardless of a world wide economic collapse / EMP that knocks out the grid where currency morphs.

Cards are instantly useless & cash is king until it too quickly becomes worth nada...the barter system takes over during the worst portions, then government issue silver becomes the common currency when some sort of normal returns. I turned some of my emergency safe cash into silver dimes, quarters, pesos & just a little of the more collectable eagles & smallest of gold pesos just for grins.

Finding it wasn't as easy as I expected.

[rockyraider]

Gold and silver are not productive assets, they produce no good or services that consumers want to buy. Gold and silver are commodities. Look at this market downturn as an opportunity to buy the market at discounted prices. The American economy will come back, these are not the end of times.

[Man]

If you do invest in precious metals, DO NOT invest in paper. Always invest in the physical that you hold in your hand. Personally, I like copper. It is cheap right now, but with green energy expanding at an ever growing rate, it won’t be cheap forever. There is also already a shortage of copper. So, it has the potential, percentage wise, to increase higher than gold or silver.

Started collecting copper several months ago and am looking into a small furnace/smelter at the moment.

[kerrbow]

Hedge your bets. Don't go all in in any choice. Just the same way people put their cash in coffee cans and bury it in the backyard. If the banking system has a hiccup and you can't get your money out or use your card, what will you turn to?

[trophy8]

Hedge your bets. Don't go all in in any choice. Just the same way people put their cash in coffee cans and bury it in the backyard. If the banking system has a hiccup and you can't get your money out or use your card, what will you turn to?

A rifle lol

[AntlerCollector]

I see gold and silver as a way to offset inflation but I don't see making any money off them.

They are more useful as a way not to lose money right now.

[Tex_Cattleman]

I've never bought into the benefit of owning gold or silver. That's just me.

This market doesn't bother me for a second. Quite the opposite. Pure opportunity. Apple stock is on sale, 30% off (1 yr). Bargain for buy and hold guys. Disney is on sale, 50% off.
Buy buy buy. And be ready to buy more in the the next week, month(s) if it tanks more.

Over the last century, some of the wealthiest Americans made their fortunes buying during the great depression.


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[91cavgt]

Make no mistake, precious metals are 100% useless if SHTF and we end up seeing a depression(which is likely as we are already in a recession now even if Wall Street says we have to wait to see what the numbers show). Precious metals are for when things recover. History shows that precious metals shoot up at the beginning of recoveries. Besides copper, I also like old silver coins like Artos stated. Unfortunately, real prices for precious metals have greatly risen even if the Wall Street price hasn’t. 3 years ago I bought pre-1964 quarters for about $3 each. 2 months ago I bought some more of them and they were almost $7 each!! The time to buy precious metals is when no one wants them.