I jumped out of the market today too. I don't see this rally lasting much longer. Now I’m just sitting tight, waiting for it to hit that established support level before I jump back in. Like taking candy from a baby 😍
Following the news yesterday that they’re slashing their US debt holdings by one-sixth, the Federal Reserve announced today that they intend to buy gold worth roughly $1 billion in an effort to bump their bullion reserves from 12% up to 15%. Given where gold is trading right now, this strategy should push the country's official stash from 98 tonnes up to about 120 tonnes.
Reports came out earlier this week showing that China's gold imports via Hong Kong reached 102 tonnes in April—that's a massive 60% increase compared to this time last year.
I was reading that our folks over at the Federal Reserve have pumped up the reserves to 14 billion euros. It's highly unlikely that those idiots (the leadership there...) would even consider buying gold.
If they were to buy in at these current prices—which have basically just been flatlining or dipping for the last six months to a year, sitting around $1,600—after having sold it off when it was $200? That would be the idiocy of the century. For a central bank to make that move now would be absurd.
I get it. A small-time speculator can pick up some gold at these levels and bet on a short-term rally. But for a central bank to step in and gamble that, after ten straight years of climbing, the price might finally take a dip? Really??
I just want to take a moment to reflect on this incredible era of consumerism, mediocrity, and relentless globalization 😬 when you look at the gadgets and appliances we rely on every single day. I realize they’ve become much cheaper—both in raw dollars and as a percentage of our income—but it’s honestly absurd that it’s now considered normal for a refrigerator, a washing machine, or a TV to only last five to seven years. Even though I’m relatively young, I find that unacceptable because I still remember the heavy-duty stuff we used to have from brands like GE or Whirlpool. Those machines were built to last twenty-five years, and if they finally gave out, it was usually due to sheer wear and tear, not some faulty internal mechanics. It’s truly mind-blowing how those old American factories outperformed everyone—the Chinese, the Japanese, and even modern US manufacturers combined.
My microwave died once while it was still under its two-year warranty, and then immediately failed again right after the coverage expired. When I asked the technician at the authorized service center what could be done, he basically told me to just toss it in the trash. Give me a break; I don't just find fifty bucks lying around on the sidewalk. A Samsung home theater system—died during the warranty period, luckily it's working fine for now. Don't even get me started on smartphones. A laptop fried right after the warranty lapsed; I lost about $900 because the motherboard was shot, and the repair cost was "not worth it." 🙂 A two-year-old Rheem water heater started leaking gas; repair was a massive headache.
Seriously, what are you guys making these things out of? Cardboard?
I just want to take a moment to look at this incredible wave of consumerism, clutter, and hyper-globalization 😬 that defines everything we touch and use daily. Sure, I get it—tech has become incredibly cheap, both in raw dollars and as a percentage of our income, but it’s honestly absurd that it’s now considered "normal" for a refrigerator, a washing machine, or a TV to give up the ghost after just five or seven years. Even though I'm relatively young, I find that unacceptable. I still remember the heavy-duty appliances we grew up with back in the day; those things were built to last twenty-five years, and even then, they usually died from rust rather than some mechanical failure. It’s wild to think that our old domestic factories used to outproduce everyone—the Chinese, the Japanese, and even the Americans combined.
Case in point: my microwave kicked the bucket once while under its two-year warranty, and then immediately died again right after the coverage expired. When I took it to an authorized service center to ask what could be done, the guy basically told me to just toss it in the trash. Give me a break. I don't exactly have fifty bucks lying around on the sidewalk.
I’m not sure if we just rattled the cage of the gold bugs, but I can’t remember the last time gold jumped 3.5 percent in a single day.😍 Man, if I had a position right now... I'd be shorting this move in a heartbeat.
One more time: does anyone know of any reliable US brokers that offer trading on gold ETFs? Maybe even some options. This is like taking candy from a baby.
Honestly, this looks more like a promotional flyer... for Herbalife. Do you guys hand out badges to new members too?
Following the double-bottom after the worst crisis in history, gold prices have been dropping for five straight months. But hey, that doesn't matter, because all that counts is how many ounces you're holding. Brilliant.
The first argument I've seen: "I can't possibly lose money on Gold and Silver because the number of ounces I own stays the same!"🙂
...what absolute BS.
Does that mean physical real estate can't be in a bubble either? Or maybe physical tulip bulbs?
🤣 That's a fair question..
It's funny how people spin things to suit their own narrative. Metals have been undervalued for fifty years; they're just now finally reaching their true value. Just you wait.
I'm hedging my position. In certain scenarios, there was a real possibility of controlled bankruptcies where every currency just collapses, leaving precious metals and energy as the only safe havens. It looks like we aren't quite hitting that breaking point yet, though.
The second reason—though it’s more of a conviction than a reason—is simply that I got in early enough to turn a profit. There are plenty of people left to inflate this bubble after me. I am in gold purely for speculative reasons.
.
Looking at the charts, the bubble is actually in the paper counterfeits, not the metals themselves. As for claiming the market isn't manipulated? Don't make me laugh. The very concept of "paper" gold and silver exists because the system was designed for manipulation. (Just look into the Rockefeller family; they learned how heavy-handed manipulation can be firsthand.) We are approaching the end of that era now—could be a year, could be two—and seeing how things are looking, the bull run is winding down. Life goes on. To think otherwise is naive. Once you realize that fiat currencies are essentially doomed, you might start viewing these gold and silver fluctuations through our eyes—the "doomsday prepper" perspective.
Right, so the last ten years of growth weren't manipulated then... interesting.
One hallmark of any "cult" is how they explain away every dip in their precious commodity—it’s always just a "correction," a conspiracy, or some shadowy cabal at work. Every price surge, on the other hand, is framed as inevitable, totally logical, and "just the beginning." They tell you to sit tight and enjoy the ride because everything is headed 500% higher by Christmas, and then who knows what happens after that.
The reality? Gold has been sliding for the last six months, and silver has dropped even harder. That's just a fact. Anyone looking at the actual, current situation can see it, rather than listening to the dreamers spinning wild scenarios about how the Federal Reserve is printing money and gold is destined to hit $5,000 an ounce.
Oh, they’ll try.. over the last year, we've seen plenty of folks calling for a massive rally like they're some kind of visionary chief, but the actual results speak for themselves..
Just be careful out there, everyone. Don't let the noise from others dictate your moves; make your own calls.
It’s easy to play the expert now, but honestly, how on earth did you manage to get into another wreck so quickly? Of course, it feels more profitable in the short term to just flip the car to some unsuspecting person and register it with zero or maybe even a 25% discount if someone already holds a 50% rating. You should have just bought it outright and practically begged the guy to take cash—offering him your ID as some kind of collateral, handing over every cent you had in your pocket. This situation is messy, and the worst part is that nobody can fix this for you anymore because you’ve officially been flagged in the system as a high-risk driver. Long-term — 🤷 Personally, if I were sitting at a 50 malus, I wouldn't even put the policy in my own name. It simply wouldn't make sense; my premium would probably skyrocket to $5,000 or $6,000, which is basically science fiction to me. For that kind of money, my relatives could register luxury cars worth $100,000 with 300+ horsepower, so this just isn't worth it..
If you're looking to speculate, now might be the window. If everything plays out according to the current trend, I wouldn't be surprised to see gold climb back toward the $1,750–$1,800 per ounce range within the next two to three weeks. If I had the capital on hand, I’d be buying right this second, but all I can do is offer my take.
I honestly think we spend way too much time spinning yarns about market speculation and quoting analyses from self-proclaimed gurus. Let’s get real: look at our own daily reality. Every single day, these gold exchange offices all over the country are buying up bullion from people who are starting to panic, and then they ship it right out of the country.
So, global demand for gold is constant, which I get. But over the last six months, we’ve seen the spot price slide by about 2% to 4% when you look at it in USD. I’m genuinely curious to see where this is headed next. The key is staying unbiased and being as objective as possible instead of just listening to one side of the story.
Someone above asked if I would sell them some physical gold... Sure, I can sell you some—actual physical pieces you can hold in your hand—but naturally, it’ll be 10% above the spot price. It's not like I just found it sitting on a sidewalk somewhere. 🙂 My skepticism, or rather my realism regarding gold, stems from the belief that this bubble will deflate just as quickly as it inflated. It won't happen overnight, but it'll be slow and steady. If anyone thinks gold is just going to climb forever, or that it's a guaranteed inheritance for their kids, or that its value stays static per ounce—well, here's a great opportunity for you. Since it's already 10% above market price, it would have to rally significantly just to break even in a month or two anyway. 😁
What exactly are you looking for me to say here? "Don't do it"? Honestly, you'd be better off just buying some shares in JPMorgan Chase. 😁 If you're expecting to make a quick buck in the short term—say, within a year—then steer clear. You're coming in way too late to this party. What’s gone up, has gone up; at this stage, the volatility is just part of the routine.
Anthony Evans78 said:Anthony Evans78, how many times are you going to flip-flop? 🙂 I know it's tough to swallow, but you have to realize that TA in the PM market is about as useful as a screen door on a submarine.
Haha, I wish I could actually agree with you for once! But hey, the wheel keeps turning...
What difference do technical analyses, facts, or indicators even make when we're talking about speculative buying? Absolutely none. Look, it's not like you're buying from bots; you're buying from other lunatics. They just happen to be named John, Paul, Cham, or Mao instead. You buy when you think it's a good deal; they buy when they think it's a good deal. There's zero logic or analysis involved here. All five of you have the exact same goal: buy low and sell high.
I'm no trader, but sometimes I feel the itch. Ever since I started following the gold market—which hasn't been very long, honestly—this whole thing reminds me of a game of ping pong. It just bounces between 1500 and 1900. Part of me wants to (speculatively) buy at 1500 and just sit on it for a couple of months. It would be pretty ironic if I actually made money on that, only to watch the bubble burst and lose every cent of profit on my physical holdings. Haha. If that happens, I’ll be back on this forum complaining that the bulls with the most posts owe me an apology.😬
My mistake—I meant silver. Gold has actually been flat for the last six months.
Did it just click for you? If you haven't realized yet, the price of gold or silver in dollars or euros doesn't mean a thing to people like us. Personally, I prefer it lower so I can stack more. I have zero intention of swapping my precious metals for depreciating paper money.
Oh, really? Are we all just hoarding silver coins and gold bullion to play a convincing game of Monopoly when society eventually collapses? You're buying because you're playing the long, and let's be honest, you're entitled to do just that.
So, following your twisted logic, gold isn't actually money either—at least not until it suits your purposes. Right now, while prices have been flatlining over the last year, it’s not "money," but once (if) it starts climbing again, suddenly it’ll be just great. Brilliant logic there.🙂
Keep your cool, folks—especially your blood pressure... the numbers fluctuate constantly, and it seems like the timing of everything just depends on whoever's sitting in the big chair at the top. I’m telling you, I have a feeling this whole dip is just a distraction. It’ll likely bounce right back up to the 1500-1600 range soon enough, but hey, we’ll just have to wait and see if I'm right.
It’s more of the same. You’re just repeating the same old lines you’ve been feeding us, spinning in circles while the price was sitting at $1,520 just twenty days ago. What are we even talking about when it comes to money printing? The Fed has been printing money right under our noses for four years now, and yet, here we are. Prices are always going to swing up and down, but it’s honestly hilarious how some people play it—when the market dips, they call it a "healthy correction," but the moment it climbs, suddenly it was "completely expected."😂
On the flip side, when the floor drops out, it drops fast. And once it hits those lows, it tends to linger there much longer than it does at these $1,800 levels.