An observation about the current Gold price (paper, obviously) see comments
(media.greatawakening.win)
Comments (25)
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OP, why is the X-axis truncated on this chart? Most likely it's a timeline, but... maybe not?
It is the timeline, not sure why my screencap missed the dates and price info.
It goes back to around Oct 2020 iirc
Thank you.
You are right. Crude oil up. Gold, silver, .. metals down. Dollar down. Some stocks like GME up. Discount window borrowing uup, deflation, credit crisis.. Starting literally now.
Added note: You said it would be hard to detect an "early warning" of financial collapse. Yes, probably, especially for us, the 'little people.' The big guys that manipulate the markets and currencies will know about it days in advance and make moves accordingly. Perhaps THAT is where we should be looking.
You're right, but it takes a lot of money to move the gold market so it will likely lag the event.
Silver might be a better indicator.
I mean, everyone knows it's coming, it's just a matter of when now.
Like anyone else who has been paying attention, I have stacked some silver back "just in case." I wonder how much would be a sufficient horde? 100 troy ounces? 1,000 troy ounces? Somewhere in between? Plus of course no one can be sure how the mechanics of such a currency system (silver bars and silver coins) would work. Would such an economy spring up suddenly? Could one purchase food and necessities directly with silver? ... or would we have to go through an exchange intermediary? Just too many unanswered questions.
In a true SHTF scenario it would only delay the inevitable. People with real resources would become the new Robber Barons.
I'm still hoping that the plan involves migrating to a new gold-backed currency and a re-pricing.
My gold and silver should help preserve some of my wealth, even if it doesn't make me a profit.
Sometimes you just need something to start with.
I've NEVER considered my silver to be an "investment"... I have no plans to buy low, sell high. It is purely a stash and a hedge against economic disaster. It will ONLY come out if there is no other medium of exchange. Another precious metal that will become invaluable is lead... the kind of lead that is mated with propulsion capabilities and come in brass jackets. The new denominations will be .308, .45, 9mm, and 5.56.
The way I look at it fren is that there is a total of 244,000 metric tons of gold in the world already found (and supposedly another 2,400,000,000,000,000 tons still on earth), so if there is 8 billion people on the planet there's like 30 grams (or an ounce) for every person. I think it's wise to have more than your share just in case (no one knows how it will work but if you have something of value you have something to trade) I would have some gold for emergencies or big purchases, house / car or something unexpected
1,740,000 metric tons of silver found (and supposedly 45,000,000,000,000,000 tons still out there) so 7 ounces per person of found silver) but I'd have a LOT more than that just in case. You're not going to exchange a piece of gold for a loaf of bread - silver would be a better idea for most things
BTW there is only 10,000 tons of platinum but 3,000,000,000,000,000 tons still on earth.
So looking at these numbers there is a little bit more platinum than gold but a much bigger incentive to find gold than platinum. Bigger incentive than silver also since there is 18 times as much silver than gold but only 7 times as much silver dug up. If silver is less than 18 times gold it probably makes more sense but if it gets to a seventh that of gold - gold would clearly be the better deal
I have approximately 350 troy ounce, so... just in case ya' know.
Never tell anyone how much you have, fren but yeah, that's a good number to keep you & your loved ones fed.
Roger that...
AND don't forget lead...
Silver can be melted into bullets if need be but yeah, that's a good idea. Where do you get it from a hardware store?
I meant lead in the form of off the shelf ammo, but there are bullet molds for any caliber and lead can be found about anywhere. Tire balancing weights, fishing sinkers, rolledin sheets... lead has a low melting point and is sosoft and malleable that some people mix it with a bit of tin and antimony to harden it for ballistic purposes. I used to load my own ammo, but it's a tedious, exacting process and I gave it up.
Personally, I think they will take out the double tops before a move down, if any.
On a 5 week chart it's clear to me the trend is up
https://www.tradingview.com/x/HEq6QtC5/
But too early to tell if it is going to reverse.
I suck at fundamentals though, so you could be right.
There is a big demand level at around $1920 - the sellers would have to break through that and it's been tested numerous times recently and still looks like pushing up.
It's a 'feel' at the moment.
Also, precious metals are heavily manipulated, normally they throw paper gold at it to suppress the price and keep it below 2K. Just look at where the double tops are priced at.
But if we are speculating the S is going to hit the fan this year, maybe the breakout will be too huge to suppress, who knows.
Ack, for short term, gold is fun to play with but long term, not my style.
In this weekly price chart for paper gold (each bar = 1 week), the arrow on the left indicates a major supply level.
Ordinarily, when price reaches such a well defined level (which represents outstanding sell orders at that price) then you usually get a sharp fall when the price reaches that level next time.
The thing is, we didn't see a massive movement when price hit it last week, and this week everything is moving sideways so far.
In terms of direction, it's too early to tell, but it does indicate that there is a lot more pressure on the buy side of things to support the current price, so whilst it may take a while to breach that supply level, it looks like that's what will happen.
There is another BIG supply level above (indicated by the two big spikes that hit the highest prices) - so it may be that price is being allowed to reach that level before reversing direction, but the circumstances in the world are very different now and there are a lot more buys than sellers in the gold market these days (Russia/China/India).
Something to keep any eye on at least. It's hard to say what will be the early warning indicator of the financial collapse being imminent, but it's usually accompanied by a flight into gold. We'll see.
edit: my screencap missed some info, but the price drop after hitting that level was about $23, i.e. eff all.
My metals prices have skyrocketed.
I don't just deal in gold and better, I also deal in titanium and stainless steel.
I made a post about the wholesale metals market exploding, but people are unwilling to pay retail. Someone is buying up everything, not just silver and gold.
copper too no? Platinum & etc...
Smart money and insiders have been quietly loading up on physical gold (and silver) at these discount price levels for the past several years.
I bought silver last year on this advice and am down 30%
Similarly down on crypto and GME, all shilled in these communities as inflation hedges
I’ll be happy to buy every ounce of gold and silver you’re regretting buying at spot price. DM me.