Will Gold Spike If Bernie Wins ?

[Warlord]

Peter Schiff had this theory that gold will spike if Bernie wins the caucuses or the nomination (he's going to win NH). He will have a 50/50 shot at winning the November election and Schiff thinks this will spook markets to the benefit of gold.

I have bought more physical gold last night locking in the current price from my dealer with a 1% premium (Krugerrands, their choice). So i guess i'm prepared for the worst.

Gold itself is holding above 1550 so looks like its ready to test 1600 again. We'll have to wait and see what happens.

@oyarde

[oyarde]

1575 right now , 1588 Fri. We will see No reason not 1600 now .

[Zippyjuan]

Peter Schiff had this theory that gold will spike if Bernie wins the caucuses or the nomination (he's going to win NH). He will have a 50/50 shot at winning the November election and Schiff thinks this will spook markets to the benefit of gold.

I have bought more physical gold last night locking in the current price from my dealer with a 1% premium (Krugerrands, their choice). So i guess i'm prepared for the worst.

Gold itself is holding above 1550 so looks like its ready to test 1600 again. We'll have to wait and see what happens.

@oyarde

Peter Schiff always has a theory that gold will spike. He has been calling for $5,000 an ounce gold for more than a decade now. (though I see he backed off the $5,000 prediction and is only shooting for $2,000 an ounce).



If there is a recession, then gold may spike.

From 2009:

https://www.businessinsider.com/henr...to-5000-2009-9

A longtime dollar bear and gold bull, he foresees gold hitting $5000 per ounce "in the next couple of years," and predicts the Dow and gold will trade on a one-to-one ratio vs. the current level of around 9.7-to-1.

Schiff believes gold is currently "climbing a wall of worry" but will eventually become as hot as tech stocks in 1999 and start moving up $100 per day.

Schiff's forecast is based on his view the U.S. dollar is going to collapse under the weight of our massive deficit and reckless policies of the Obama administration, which he compares to the massive spending programs of the 1960s, which paved the way for gold's ascent in the 1970s. "Obama is making the same mistakes as Bush, but he's doing them on a grander scale," says Schiff, who is running for U.S. Senate in Connecticut as a Republican.

Schiff has predicted twelve of the last one recessions.

[Warlord]

Any reason why goid is down 1.2%? Shame im locked in, im down $20

[Krugminator2]

Well I got this one wrong. Thought Biden doing poorly in the caucus would have a negative effect. I shorted the market last Wednesday. Covered some on Friday and cut the rest today on the spike up.

[Warlord]

yikes its down 1.6%! What's going on ?

@oyarde

[Brian4Liberty]

yikes its down 1.6%! What's going on ?

@oyarde

Central banks pumping liquidity into the system?

[oyarde]

yikes its down 1.6%! What's going on ?

@oyarde

I think tomorrow gets back what went down today but we will see , palladium up 100 , rhodium up 200 , platinum flat , silver down fifty cents since friday

[sam1952]

Anybody on this forum own palladium? I bought some in 2006 on a whim for some diversification. $280 an ounce.

[RonZeplin]

yikes its down 1.6%! What's going on ?

@oyarde

Confidence in the economy with President Buttplug.

Better than Trump.

[Warlord]

Confidence in the economy with President Buttplug.

Better than Trump.

False confidence. Schiff makes a good point here:

HUGE bubble....

[oyarde]

Anybody on this forum own palladium? I bought some in 2006 on a whim for some diversification. $280 an ounce.

Friend of mine sold his last week at 2K , he bought at 600 .

[oyarde]

Anybody on this forum own palladium? I bought some in 2006 on a whim for some diversification. $280 an ounce.

If you go to Upstate Gold and Coin ( Fayetteville , NY ) , wwwupstatecoins.com , hit download for the daily wholesale dealer sheet and it shows what they are buying at which today was 30.00 under bid .

[Warlord]

Friend of mine sold his last week at 2K , he bought at 600 .

The premiums are insane on alternatives like palladium, I prefer buying coins with a low premium of around 1% from my dealer.

[oyarde]

The premiums are insane on alternatives like palladium, I prefer buying coins with a low premium of around 1% from my dealer.

I only have 1 kilo ea of platinum and palladium .Mostly I am in lead , steel , silver , copper , gold .

[oyarde]

I am holding my bitcoin until it hits I million

[Warlord]

I only have 1 kilo ea of platinum and palladium .Mostly I am in lead , steel , silver , copper , gold .

I like the liquidity in the secondary market for gold. If I want i can cash in very easily and near spot. That is very appealing to me.

[oyarde]

Gold back at 1555 tonight on the Asian market so far

[Warlord]

Gold back at 1555 tonight on the Asian market so far

At least 1550 support is holding. Maybe if Bernie wins NH next week we will see some upside.

[Pauls' Revere]

Central banks pumping liquidity into the system?

China did a huge repo.

https://www.reuters.com/article/us-c...-idUSKBN1ZX05X

[sam1952]

If you go to Upstate Gold and Coin ( Fayetteville , NY ) , wwwupstatecoins.com , hit download for the daily wholesale dealer sheet and it shows what they are buying at which today was 30.00 under bid .

Thanks for that link. I sold 20% of my palladium at bid $1916 an ounce and $75 under spot. Kitco was the same premium under spot. I sold to LCS and hoping moving forward I can do better after establishing a relationship with a new dealer.

Now if only silver would move...

[oyarde]

China did a huge repo.

https://www.reuters.com/article/us-c...-idUSKBN1ZX05X

One of the headlines on Kitco was copper up due to china stimulus

[oyarde]

copper output from china expected to be down close to twenty percent remainder of month due to caronavirus

[Warlord]

Gold up 0.5% in early trading.. the support level is holding for now

[oyarde]

Dow up 340 to back over 29K , Gold should pass through 1560 , silver may not get to 17 3/4 , Platinum up 21.00 , Rhodium up another 100.00, West Texas Light Sweet Crude under 50 , wholesale gasoline at 1.44 . No reason you should not be able to get local 2 1/4 gasoline , copper 2.55 .

[Warlord]

Gold up 0.5%. Silver up 1.5%

1550 held , can only see it going up from here.

[oyarde]

I was thinking gold would go to 1570 today

[oyarde]

1569

[Warlord]

Gold up 0.3%, Silver down 0.3%

[oyarde]

1572.7 Gold , 17.71 silver , 967.00 platinum , Rhodium 9500.00 , Palladium 2213.00, Copper 2.60, Dow down 245 but still over 29K. S &P 500 and Nascrap are close to flat .