Author Topic: Gold Price  (Read 1991 times)

0 Members and 1 Guest are viewing this topic.

Offline catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
  • Moderator
  • *****
  • Posts: 31,425
  • Gender: Male
Gold Price
« on: April 02, 2024, 03:07:24 pm »


Freakin' Gold is up to $2287/oz at this exact moment!!!!!!!!!

This sudden basic subtle currency devaluation of  is a flashing danger sign of the effects of inlflation aand wreckless fiscal policy.

And barely being covered by the media.  Next step?  Watch for hperinflation
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline LMAO

  • Hero Member
  • *****
  • Posts: 15,535
  • Gender: Male
Re: Gold Price
« Reply #1 on: April 02, 2024, 09:05:42 pm »


Freakin' Gold is up to $2287/oz at this exact moment!!!!!!!!!

This sudden basic subtle currency devaluation of  is a flashing danger sign of the effects of inlflation aand wreckless fiscal policy.

And barely being covered by the media.  Next step?  Watch for hperinflation


I saw that


And both sides in this presidential campaign are eager to dismiss discussions regarding the unsustainable fiscal and monetary policy and its effects
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #2 on: April 02, 2024, 09:33:14 pm »


Freakin' Gold is up to $2287/oz at this exact moment!!!!!!!!!

This sudden basic subtle currency devaluation of  is a flashing danger sign of the effects of inlflation aand wreckless fiscal policy.

And barely being covered by the media.  Next step?  Watch for hperinflation

This is huge ... thanks for the info.

Interesting that there are those that think that this country is doing just fine.  *****rollingeyes*****
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline Bigun

  • Hero Member
  • *****
  • Posts: 51,470
  • Gender: Male
  • Resistance to Tyrants is Obedience to God
    • The FairTax Plan
Re: Gold Price
« Reply #3 on: April 02, 2024, 09:41:11 pm »
Not unexpected. It's always been a matter of when and not if.
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #4 on: April 02, 2024, 09:50:49 pm »
As for hyperinflation that is going to be a huge problem for many.  We are just keeping it together and I don't look forward to having to stretch dollars even further as they can only be stretched so far.

Hey -- no worries -- on top of that we'll be having to support all the ILLEGALS that Joe let in. 

Can anyone spell economic collapse? Will it be felt globally or will we see a reset as to who the dominant currency is?

Also, would going back to the gold standard at that point in time, be feasible??

Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline LMAO

  • Hero Member
  • *****
  • Posts: 15,535
  • Gender: Male
Re: Gold Price
« Reply #5 on: April 02, 2024, 10:51:06 pm »
Well, an economic crash will take care of the inflation problem
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #6 on: April 02, 2024, 10:58:18 pm »
Well, an economic crash will take care of the inflation problem


...and then what?  It's not like things will be back to normal; economic crash = chaos in the streets.
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
  • Moderator
  • *****
  • Posts: 31,425
  • Gender: Male
Re: Gold Price
« Reply #7 on: April 02, 2024, 10:59:17 pm »
Closed at $2,303.90

 *bouche*
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline LMAO

  • Hero Member
  • *****
  • Posts: 15,535
  • Gender: Male
Re: Gold Price
« Reply #8 on: April 02, 2024, 11:15:29 pm »

...and then what?  It's not like things will be back to normal; economic crash = chaos in the streets.

Why?

This country has a history of recessions, panics, economic crashes, economic depressions

And we go on. And what does back to normal mean?


We will recover. The issue is not the economic crash. The issue is what government does about it. Instead of just letting market forces work its way, we’ve had stimulus, bailouts, regulations…
« Last Edit: April 02, 2024, 11:21:48 pm by LMAO »
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline LMAO

  • Hero Member
  • *****
  • Posts: 15,535
  • Gender: Male
Re: Gold Price
« Reply #9 on: April 02, 2024, 11:18:45 pm »
Closed at $2,303.90

 *bouche*


This is the magic of the market. Despite the Biden administration bullshitting that everything is hunky-dory, people  with money on the line are worried
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #10 on: April 02, 2024, 11:53:07 pm »
Closed at $2,303.90

 *bouche*

Whoa. The DOW retreated as well.  I wouldn't be making any big purchases with a loan attached and if you have any debt, pay it down as quickly as possible. 
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #11 on: April 03, 2024, 12:00:00 am »

This is the magic of the market. Despite the Biden administration bullshitting that everything is hunky-dory, people  with money on the line are worried

How could anyone believe that everything is just hunky-dory?? It's a no brainer that things are pretty bad.  Gold shooting up this high, this quickly....something is a brewin'.
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #12 on: April 03, 2024, 12:08:25 am »
Gee-- anyone still think that we shouldn't have gone back to the gold standard a long while ago???

Gold price hits new record highs as the West loses price-setting powers: Frank Giustra & Pierre Lassonde on new geopolitical reality & resource nationalism


As gold set another record high, Canadian mining legends Frank Giustra, CEO of Fiore Group, and Pierre Lassonde, Chairman Emeritus at Franco-Nevada, say the West has lost its power to set the price of gold. Giustra and Lassonde also warn that in the new geopolitical reality of resource nationalism, Canada is failing its economy and citizens.

With gold futures hitting another record high of above $2,264 an ounce at the start of the second quarter, Giustra and Lassonde pointed to a major shift in the gold market.

"The world hasn't woken up yet. The marginal buyer of gold is no longer the U.S. It's no longer Europe. It's China. Between the country's central bank and the Chinese public, China takes up over two-thirds of all the annual production. They are the new marginal buyer. That's where the gold price is set," Lassonde told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, during Kitco Insights Interactive Mining Titans' Power Panel.

For what this means for the U.S. dollar and gold this year and beyond, watch the video above.

BRICS Plus, which now includes Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, Ethiopia, Iran, and the United Arab Emirates, can get up one morning and say they are going "to back their collective new currency with gold," which they can now set to create more credit and reserves, Giustra pointed out.

A coordinated move by the BRICS Plus against the U.S. dollar could lead to violent results, he warned.

"No one wants war, but here's the problem — the U. S. is facing an existential threat. It's a national security issue," Giustra said. "If there's a sudden move towards replacing the U.S. dollar, meaning perhaps a BRICS announcement of a new currency [backed by] gold, I think then it would react quite violently."

https://www.kitco.com/news/article/2024-04-01/gold-price-hits-new-record-highs-west-loses-price-setting-powers-frank
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline LMAO

  • Hero Member
  • *****
  • Posts: 15,535
  • Gender: Male
Re: Gold Price
« Reply #13 on: April 03, 2024, 12:46:51 am »
How could anyone believe that everything is just hunky-dory?? It's a no brainer that things are pretty bad.  Gold shooting up this high, this quickly....something is a brewin'.

Welcome to unsustainable deficits and record-breaking currency printing

I’m actually watching this new Argentina president with great interest.
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #14 on: April 03, 2024, 12:57:56 am »
Welcome to unsustainable deficits and record-breaking currency printing

I’m actually watching this new Argentina president with great interest.

(I haven't paid any attention to Argentina's president -- I'll have to do a little research). 

Based on the article I posted upthread -- the U.S. economy is perhaps getting ready to collapse? Brandon & Company have been hard at work.

What is troubling is that in September a U.N. summit will be held in which the U.N. is asking for global emergency powers.  Gee, what a coincidence?
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
  • Moderator
  • *****
  • Posts: 31,425
  • Gender: Male
Re: Gold Price
« Reply #15 on: April 03, 2024, 03:56:31 am »

This is the magic of the market. Despite the Biden administration bullshitting that everything is hunky-dory, people  with money on the line are worried

The combo of:
*  an 150% oversold DOW (should be at about 15K)
*  False reporting of CPI
*  Debt to GDP ratio of 130%, and now over 100% for 12 years.
*   Persisitent inflation even with high interest rates
*  Historic persisitent low mfg,/GDP ratios.
* Most of the market with high P/E ratios given unrealistic sustianable growth and profitability.

All of these together are unprecedented.  The fact we keep kicking the can down the road by mfg debt can't go on forever.  The fact that Gold is rocketing up, is not a function of demand or inherent value of the metal.  When actually the metal is a fixed asset, where the countries economics and faith in its currency is the metric.


« Last Edit: April 07, 2024, 11:01:29 am by catfish1957 »
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #16 on: April 03, 2024, 02:49:15 pm »
The combo of:
*  an 150% oversold DOW (should be at about 15K)
*  False reporting of CPI
*  Debt to GDP ratio of 130%, and now over 100% for 12 years.
*   Persisitent inflation even with high interest rates
*  Historic persisitent low mfg,/GDP ratios.
* Most of the marker with high P/E ratios given unrealistic sustianable growth and profitability.

All of these together are unprecedented.  The fact we keep kicking the can down the road by mfg debt can't go on forever.  The fact that Gold is rocketing up, is not a function of demand or inherent value of the metal.  When actually the metal is a fixed asset, where the countries economics and faith in its currency is the metric.

The fact that China is buying up gold and are trying to convince others to go to the gold standard is worrisome as it is doubtful that the U.S. has as much gold on hand as they claim and it would also inevitably mean the devaluation of the dollar or knocking the dollar out as the dominating currency.
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
  • Moderator
  • *****
  • Posts: 31,425
  • Gender: Male
Re: Gold Price
« Reply #17 on: April 03, 2024, 02:59:18 pm »
The fact that China is buying up gold and are trying to convince others to go to the gold standard is worrisome as it is doubtful that the U.S. has as much gold on hand as they claim and it would also inevitably mean the devaluation of the dollar or knocking the dollar out as the dominating currency.

Exactly...  I've heard rumblings that the $40T deficit mark may be the triggering mechanism to force our hand that our currency standing is unsustainable.  At or about that time, I expect a coupled BRICS-Gold Standard to be implemented, and the nation's particpation, will be like a 200+ nation domino.  With those laggers, being hurt the most. 

If and when that happens, the $USD will be floated against the BRICS, and I am guessing when we are no longer the reference currency, our currency evaluation will fall off a cliff.  Perceivably, we and other highly leveraged countries  could go from a world economic powers to 3rd world within a year.

This $2300/oz Au is not the cause, but the symptom. 
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #18 on: April 04, 2024, 03:10:29 pm »
I don't see any opportunities to buy gold in the near future -- it's going to continue to climb. 

Gold sees technical selling pressure as weekly jobless claims rise to a nine-week high

The gold market continues to test initial support at $2,300 an ounce and not attracting any new bullish momentum even as the U.S. labor market shows signs of weakening.

Initial claims for state unemployment benefits increased by 9,000 to a seasonally adjusted 221,000 for the week ended March 30, the Labor Department said Thursday.

The employment data was weaker than expected. According to consensus estimates, economists had forecast to remain relatively steady at 212,000. The previous week’s claims were revised up slightly to 212,000.

Weekly jobless claims have risen to their highest level since early February.

The gold market is not seeing much reaction to the latest employment data. June gold last traded at $2,304.90 an ounce, down 0.44% on the day.

According to some analysts gold’s price action is not surprising; the precious metal is seeing some technical selling pressure after hitting a fresh all-time high of $2,324.80 an ounce.

https://www.kitco.com/news/article/2024-04-04/gold-sees-technical-selling-pressure-weekly-jobless-claims-rise-nine-week
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #19 on: April 04, 2024, 03:13:05 pm »
Exactly...  I've heard rumblings that the $40T deficit mark may be the triggering mechanism to force our hand that our currency standing is unsustainable.  At or about that time, I expect a coupled BRICS-Gold Standard to be implemented, and the nation's particpation, will be like a 200+ nation domino.  With those laggers, being hurt the most. 

If and when that happens, the $USD will be floated against the BRICS, and I am guessing when we are no longer the reference currency, our currency evaluation will fall off a cliff.  Perceivably, we and other highly leveraged countries  could go from a world economic powers to 3rd world within a year.

This $2300/oz Au is not the cause, but the symptom.

This speaks volumes  .... how much is the U.S. purchasing?

Central banks buy 19 tonnes of gold in February, purchases slow but remain healthy – World Gold Council

https://www.kitco.com/news/article/2024-04-03/central-banks-buy-19-tonnes-gold-february-purchases-slow-remain-healthy
« Last Edit: April 04, 2024, 03:13:59 pm by libertybele »
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline DefiantMassRINO

  • Hero Member
  • *****
  • Posts: 10,055
  • Gender: Male
Re: Gold Price
« Reply #20 on: April 04, 2024, 04:07:45 pm »

It's the 1970s all over again ...

Self-Anointed Deplorable Expert Chowderhead Pundit

I reserve my God-given rights to be wrong and to be stupid at all times.
"If at first you don’t succeed, destroy all evidence that you tried." - Steven Wright

Offline Bigun

  • Hero Member
  • *****
  • Posts: 51,470
  • Gender: Male
  • Resistance to Tyrants is Obedience to God
    • The FairTax Plan
Re: Gold Price
« Reply #21 on: April 04, 2024, 04:16:11 pm »
It's the 1970s all over again ...



It's going to get a lot worse. Those who were responsible and accumulated some $$ will be lucky to survive what's coming.
« Last Edit: April 04, 2024, 04:18:59 pm by Bigun »
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #22 on: April 04, 2024, 04:17:34 pm »
It's going to get a lot worse.

I am afraid so.  Anyone who owns gold is glad to see the metal soar, but the reason behind that rise...not so much.
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #23 on: April 04, 2024, 04:21:46 pm »
It certainly doesn't appear that the U.S. is following such an increase. (I may be interpreting the chart wrong).

https://www.ceicdata.com/en/indicator/united-states/gold-reserves
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,005
  • Gender: Female
Re: Gold Price
« Reply #24 on: April 04, 2024, 04:25:40 pm »
Gold plows to record high after Powell's remarks

"Gold surged to yet another historic high on elevated trading volume after Powell stresses that 'bumps' in the road don't change the overall rosy picture," said Tai Wong, a New York-based independent metals trader.
"Powell's customary cautious approach doesn't worry gold bulls...I think bulls want to see $2,300 and I think more 'tourists' are getting involved in the trade."
Powell said that "if the economy evolves broadly as we expect," he and his Fed colleagues largely agree that a lower policy interest rate will be appropriate "at some point this year."
Investors still expect a first rate cut at the Fed's June 11-12 policy meeting, even as stronger recent economic data has sown investor doubts about that outcome.
Gold, a hedge against inflation and a safe haven during times of political and economic uncertainty, has climbed over 11% so far this year, helped by strong central bank buying and safe-haven demand.
The U.S. jobs report for March is due to be released on Friday, with new inflation data coming next week...............

https://www.reuters.com/markets/commodities/gold-smashes-record-again-us-inflation-worries-loom-2024-04-03/
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.