Gold, Silver and Current Crisis

[Incarnadine]

After a good run today I think it's time to finally take some profit. I've decided to sell about 80 ounces (8x 10 oz. bars).

It'll make a bit of a dent in my stack, but not a serious one. I still have my receipts from when I bought most of my silver from 2013 to 2015 and most of those bars cost me less than $200 Cdn. Right now the buy price is $1472 Cdn. (same place I bought them) If it keeps going up great, I still have most of my stack left, if it suddenly drops at least I can say I sold some near the top.

[goodole13]

Originally Posted by Incarnadine

After a good run today I think it's time to finally take some profit. I've decided to sell about 80 ounces (8x 10 oz. bars).

It'll make a bit of a dent in my stack, but not a serious one. I still have my receipts from when I bought most of my silver from 2013 to 2015 and most of those bars cost me less than $200 Cdn. Right now the buy price is $1472 Cdn. (same place I bought them) If it keeps going up great, I still have most of my stack left, if it suddenly drops at least I can say I sold some near the top.

Not that my opinion matters, but I think this is a great move.

There is going to be a pull back eventually, and then it'll run back up.

I think this move gives you an opportunity to replenish your stack, if you choose to, when it dips... Still allowing for a decent profit.

Of course, it also gives you opportunities for personal needs. So, yeah, good move in my opinion.

[Incarnadine]

Originally Posted by goodole13

Not that my opinion matters, but I think this is a great move.

There is going to be a pull back eventually, and then it'll run back up.

I think this move gives you an opportunity to replenish your stack, if you choose to, when it dips... Still allowing for a decent profit.

Of course, it also gives you opportunities for personal needs. So, yeah, good move in my opinion.

Thanks, that was pretty much my thinking.

It never even crossed my mind to sell any at $70 or $80, but at $90 I started considering it but still held strong until about $113 today. To be honest, that crazy action yesterday when silver jumped up $14 but closed the session up less than $0.50 did make me a bit nervous so when today's session closed up about +$8.33 that cemented my decision to sell 8 bars.

The lineup was crazy, mostly currency conversion (it's a currency and bullion exchange), but I saw at least a couple of silver buyers, 1 guy bought 93 Maples.
Your point about personal needs is a good one, my old comfy chair is looking pretty ratty and I did get a flyer in the mail that La-Z-Boy is having a sale so it might be time.

[thor_rider08]

Congrats on holding and cleaning up! Think I might sell 100 when it hits 500..lol?
I am not a seller, but I did trade 24oz of silver for 1oz of platinum bc ratios and such.
Also plan on snagging another 3 1/3s this week.

If you bought 500oz @ 25$ per and can now cash out 110 of them and almost get all of your original investment and hold 400oz risk free? I say do it all damn day!!! Ride the rest free!

[Incarnadine]

The old "I wish I'd waited just 1 more day" strikes again.
Silver just hit $120, up $7 from where I sold yesterday, but the rest of my stack appreciates the bump.

Gold looks like it's taking over the momentum silver had as it just topped $5600, which I think is up nearly $500 in 3 days.




Edit: Damn these swings are getting vicious, gold dropped nearly $100 about 1 minute after I posted it hitting $5600, although to be fair the jump up was nearly as fast. The dip on silver was small, about $1.50, which given the swings silver has had lately is like the margin of error.
I'm thinking back to the days when a $1 gain for silver over a day was considered a big move, good times for buying.

[jcmel323]

How do you approach a rare situation like this?
I can’t even take a break and it’s already up another 4%.

[thor_rider08]

I think 10% swings will be the new norm and if anything as we grow it will become 10-20% swings. Like you said back in the day moving up or down 1$ was big news and 2$ was epic!

Gold shot up to 5600 ish then to 5130 and resting at 5350. Silver 122 high 107 low now 113.

I still don't see it stopping or pulling back much more than that!

[Incarnadine]

Originally Posted by thor_rider08

I think 10% swings will be the new norm and if anything as we grow it will become 10-20% swings. Like you said back in the day moving up or down 1$ was big news and 2$ was epic!

Gold shot up to 5600 ish then to 5130 and resting at 5350. Silver 122 high 107 low now 113.

I still don't see it stopping or pulling back much more than that!

I missed seeing those big swings while at work, but when I got home I saw gold a bit over $5450 and silver around $119, but both dropped off a cliff in what seemed like no time at all, gold dropped $300 to around $5150 and silver shed $10 to $109. Both bounced back a bit (currently gold $5235, silver $112).

I can't even guess what will happen next. More drops, or is this just a blip before they take off again?
I'm happy I shed those 80 oz's now no matter what happens. Literally anything could happen now and it looks like I only missed the top (currently) by 1 day.

[Incarnadine]

Just got up and, wow...

[coltsnsox07]

Kitco news says it's because of who was picked as the new Fed chair?..

[Qman316]

This is just crazy… silver at 93 this morning and as I write this sitting at $94 what a huge drop

[zeus22]

Do I hear $88???

[Boo]

Just shipped a bar to Kitco the other day, should get there today. Sorry about their luck (even if they do rip you in regards to price vs spot).

It will be volatile, everyone knew that. It can't go up forever.

[kyle1707]

Wonder if silver is going to drop to 50.00 today. lol

[Boo]

Expect to see stories about it being a concerted effort to drop the price so that banks could cover their short positions.

It will be back to 100 at some point.

[thor_rider08]

Last night it tracked below 100 now at 85$. I didn't think we would have a 30% swing but with news, fed pick, and contracts it makes sense.
Am I a speriousy contherioust? 100%

Lets see how long we stay down here, or perhaps how much lower it can go! Perfect time to add some plat!

57/1 Gold
25/1 Platinum
That is what matters most to me!

[Cactuspies]

Fed pick is all over the new epstein file dump, can't wait to see what type of ride we get now seeing as he probably shouldn't be in, but probably will anyway

Originally Posted by thor_rider08

Last night it tracked below 100 now at 85$. I didn't think we would have a 30% swing but with news, fed pick, and contracts it makes sense.
Am I a speriousy contherioust? 100%

Lets see how long we stay down here, or perhaps how much lower it can go! Perfect time to add some plat!

57/1 Gold
25/1 Platinum
That is what matters most to me!

[thor_rider08]

Originally Posted by Cactuspies

Fed pick is all over the new epstein file dump, can't wait to see what type of ride we get now seeing as he probably shouldn't be in, but probably will anyway

I don't think any of it really matters when it comes to physical. I think this is a pullback and we leap forward. I expect even more paper volitility!

The fundamentals have not changed.. more debt, more printing, more margin hikes, more demand ect
I am a buyer every year and was a buyer at 15,25,40, 60, and would be a buyer here if.. I was not on a Platinum kick.
I just don't magically see our dollar rebounding or any currency for that matter!

The paper rollercoaster is certainly a bright spot in my year so far!

[Incarnadine]

Just got home and saw silver closed just over $86.

I am so glad I caved and sold those 8 10oz bars when I did, I literally just missed the top by 1 day after holding everything for nearly 15 years without selling anything.

[Siberian13]

Fell to $75, that’s wild and probably could have scooped a little.

[goodole13]

I think we all knew a pull back was coming. I am not shocked by this at all.
I've been buying/holding for around 12 years. I will continue to buy and hold.

We all know precious metals aren't necessarily an investment, but a hedge against inflation. A protection of wealth.

I enjoy seeing the traffic and all the posts in this thread.