Are Gold and Silver gonna keep going down?

[twinfin]

Would no longer be a buyer now. At $51 an ounce for silver I might even toy w selling a 100 or so ounces. My silver ETF in my retirement account is currently my biggest winner up well over 110%. I’ve sold much of that now. Uncharted territory up or back to reality in the new future. If you only really knew huh

Ya, it’s kinda scary when one looks at ounces held X $53.00 (price at time of this writing). It looks like the strategy of buying a little here, a little there over the decades has added up to something. Do I sell now or hang on? I think I’ll just hang on. Maybe I should start back up stacking ammo?

[harbormaster]

Silver new all time high. Wonder if the decline in Bitcoin is contributing

[TheChief]

It's been some time since I have check metal values and was blown away...Gold is $4,332.45 and ounce and sluver is at $66.27 and ounce. What happened over the last year to drive the value up so much!!!image.png

[EM2]

It's been some time since I have check metal values and was blown away...Gold is $4,332.45 and ounce and sluver is at $66.27 and ounce. What happened over the last year to drive the value up so much!!!image.png

HA!
The "value" of precious metal has not gone up, the "value" of currency has gone down.

[Spaffo]

Exactly. Dollar is dropping.

[user120312]

HA!
The "value" of precious metal has not gone up, the "value" of currency has gone down.

One challenge is divorcing people from value being calculated in fiat dollars. That difficulty points to the strength of the dollar, not necessarily in intrinsic value, rather as a yardstick of asset value.

Say, forex, I have some silver coins and want to consolidate them into gold coins. How is that done? Part of the meeting of the minds will inevitably involve, on one side or the other or both, calculating value in fiat dollars to arrive at an agreement. OTOH, say five silver coins equals the desired gold coin without consideration of fiat dollars, I'd consider that a success in moving away from the government and their fiat. Same with anything else.

I tried this with fuel and bricks when I was getting rid of thousands of bricks. So many bricks for a gallon of diesel, barter. Very little interest in that and, still, the old dollar calculator would come out. Then I kept raising the amount of bricks just to see what people would do, when a gallon of diesel was a far better value for them than opening their wallet. Human psychology never ceases to amaze me.

It's amazing how much the government has brainwashed people into money slavery. It's like the Matrix. It's all around us.

[OlderThanDirt]

I bought a lot of gold before and after 9/11/2001. I bought some prior to Y2K and had to liquidate some funds in early 2001, so I picked up some gold. Right after 9/11 I sunk a lot more money into gold given what I perceived as a vulnerability to the financial system. As gold shot up I purchased silver when it was in the $16-20 range and haven’t bought anything since.

I’m expecting that we will see a repeat of the FDR ban on gold ownership that will probably include silver and other needed metals. This was done through executive order, so when the dollar tanks, you will be forced to sell your hedge against inflation in order to stabilize the economy.

[socal m1 shooter]

I’m expecting that we will see a repeat of the FDR ban on gold ownership that will probably include silver and other needed metals. This was done through executive order, so when the dollar tanks, you will be forced to sell your hedge against inflation in order to stabilize the economy.

Not likely for a variety of reasons. First, the dollar was gold-backed at that time, so part of their motivation came from wanting to print money. Obviously not a problem any more... money printer go BRRRRRRR whenever they want it/need it. Second, in those days, the population of the USA was far more respectful, generally speaking, of government authority. The depression was hitting rock-bottom, and prohibition was still the law when the executive order to collect privately-held gold was signed. The population today has an entirely different attitude toward government. Not to mention, FDR didn't do any door-to-door raids to collect gold; rather they mainly relied upon voluntary compliance, yet it has been estimated that maybe 70-75% of the gold was not turned in by those Americans who were far more pro-government than Americans today. Not even king Gavin would be stupid and arrogant enough to try gold confiscation in this day and age.

While it is totally true that history shows no one ever learns anything from history, and equally true that human stupidity is measureless, there is no way that they would try pulling that kind of thing today.

[user120312]

Yeah, to get the gold they'd need to get the guns and I envision a marked depopulation event if that ever came to pass and pretty much the end of government as we know it today. Assassination would become so widespread that stuff like 9/10 or 7/13 would become an every day event.

We have the benefit of history in the information revolution to see firsthand how things went for the Jews under the Nazi regime and their gold was part of that.

If society falls apart, stable assets will become even more valuable for when things settle down. Of course they will need to be defended, so get used to killing if not already used to it. Part of life in chaos.