• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

Gold Back Under $1,900 as U.S. Yields, Dollar Surge on Jobs Data

lukdiver

New Member
Seeker
Joined
Mar 31, 2010
Messages
89
Reaction score
173
Lynnete called this one.. Today might be the day I pull the trigger. !!!!
Plenty of schenagians that can get pulled that manipulate the price lower and it could take some time for 'premiums' to be reflected in lower prices at retail. Central Banks will do anything to suppress PM prices as it reveals they are swimming naked.
 

Lancers32

Gold Member
Gold Chaser
Site Supporter
Joined
May 10, 2020
Messages
2,892
Reaction score
3,921
Location
NC
What exactly did she "call"?
 

Lancers32

Gold Member
Gold Chaser
Site Supporter
Joined
May 10, 2020
Messages
2,892
Reaction score
3,921
Location
NC
Would not rush in.
 

the_shootist

I identify as fully vaccinated so I'm good!
Midas Member
Sr Midas Supporter +++
Joined
May 31, 2015
Messages
62,586
Reaction score
124,327
Location
Earth
1622752637553.png


Interesting development regarding the dollar.

1622752867493.png
 

nickndfl

Midas Member
Midas Member
Sr Midas Supporter +++
Joined
Jan 7, 2011
Messages
15,628
Reaction score
16,189
Location
Florida
Russians should buy gold and real estate. S&P index ETFs would be okay if they like stocks.
 

Scorpio

Hunter of Chin Li's Boo Hoo Flu
Founding Member
Board Elder
Site Mgr
Midas Supporter ++
Joined
Mar 25, 2010
Messages
33,912
Reaction score
50,881
they claim because of sanctions, but the sanctions started in '14 with the kenyan, and now hidin' has just added some more claiming election interference

first of all, the only election interference was by the dems, not the evil rooskies

secondly, they have been gradually moving out of usd for some time, and this most recent announcement is the clearing them out of their rainy day fund, or a part of the overall picture there.

Here is something from Jan speaking about gold holdings,

----

Russia for First Time Holds More Gold Than U.S. Dollars in $583 Billion Reserves​

By
Natasha Doff
and
Anna Andrianova
January 12, 2021, 4:05 AM CST
  • Gold made up 23% of central bank’s stockpile as of end of June
  • Putin has made ‘de-dollarization’ a key policy amid sanctions

A multi-year drive to reduce exposure to U.S. assets has pushed the share of gold in Russia’s $583 billion international reserves above dollars for the first time on record.


Gold made up 23% of the central bank’s stockpile as of the end of June 2020, the latest date for which data on the breakdown is available, according to a report published late Monday. The share of dollar assets dropped to 22%, down from more than 40% in 2018.


Gold Stash​

Gold surpassed dollar assets in Russia's reserves for the first time

Source: Bank of Russia, data as of June 30, 2020

The shift is part of a broader strategy outlined by President Vladimir Putin to “de-dollarize” the Russian economy and lower its vulnerability to U.S. sanctions amid deteriorating relations with Washington. Gold is now the second-biggest component of the central bank’s reserves after the euro, which makes up about of a third of total assets. About 12% of the stash is in yuan.


How Virus-Panicked Markets Showed Dollar’s Still King: QuickTake


The increase in Russia’s gold reserves was aided by a 26% surge in prices between June 2019 and June 2020. The central bank also bought $4.3 billion worth of the precious metal over the period, according to the report.
Russia has been growing its international reserves in recent years

Russia spent more than $40 billion building a war chest of gold over the past five years, making it the world’s biggest buyer. The central bank said it stopped buying gold in the first half of last year to encourage miners and banks to export more and bring in foreign currency into Russia after oil prices crashed.
— With assistance by Andrey Biryukov

 

Avalon

The most courageous act is to think for yourself
Site Supporter
Platinum Bling
Joined
Mar 30, 2010
Messages
4,257
Reaction score
6,437
Location
NC
if jobs reports look really good today we might go lower.
 

Avalon

The most courageous act is to think for yourself
Site Supporter
Platinum Bling
Joined
Mar 30, 2010
Messages
4,257
Reaction score
6,437
Location
NC

U.S. economy added 559K jobs in May and unemployment fell to 5.8% as COVID cases fell, more states reopened, report shows​

Paul Davidson
USA TODAY
and yet we are heading higher :( I know you can't time it but a pull back would be nice
 

Avalon

The most courageous act is to think for yourself
Site Supporter
Platinum Bling
Joined
Mar 30, 2010
Messages
4,257
Reaction score
6,437
Location
NC
Still watching and waiting but getting very close to buying. Is anyone here watching Lyn Alden? This woman is 33 yrs old. She has to be some type of alien because she is the smartest person I have ever listened to. Her understanding of finance is off the charts.

 

mnmom

Seeker
Seeker
Joined
Jan 19, 2011
Messages
409
Reaction score
777
The best explanation I've heard lately is we are at the 'hold your butt cheeks stage'. I have no idea why i found that so funny. :)
 

Avalon

The most courageous act is to think for yourself
Site Supporter
Platinum Bling
Joined
Mar 30, 2010
Messages
4,257
Reaction score
6,437
Location
NC
The best explanation I've heard lately is we are at the 'hold your butt cheeks stage'. I have no idea why i found that so funny. :)
yeah, I have been reading all my trusted sources to try and figure when to pull the trigger. Lyn Alden mesmerizes me. I can't say that I understand everything she says but I believe her. I love watching the faces of these older seasoned investment guys who interview her. Sometimes their mouths hang open. We could have another correction but I'm not sure its worth the aggravation and risk of waiting.
 

GOLDBRIX

'SUSH, MY NEW SAFE HOUSE"
Midas Member
Midas Supporter ++
Joined
Apr 4, 2010
Messages
18,462
Reaction score
28,139
Still watching and waiting but getting very close to buying. Is anyone here watching Lyn Alden? This woman is 33 yrs old. She has to be some type of alien because she is the smartest person I have ever listened to. Her understanding of finance is off the charts.

On occasion. I put her in the same category as Zang, Marcus, Maneco64.
 

Avalon

The most courageous act is to think for yourself
Site Supporter
Platinum Bling
Joined
Mar 30, 2010
Messages
4,257
Reaction score
6,437
Location
NC
On occasion. I put her in the same category as Zang, Marcus, Maneco64.
yeah but you got to admit she is like watching a walking, talking computer. Also unlike Zang she doesn't keep telling us how rich we will be if we buy gold. They hype her videos like that but she really doesn't. Her view is way more balanced.
 

GOLDBRIX

'SUSH, MY NEW SAFE HOUSE"
Midas Member
Midas Supporter ++
Joined
Apr 4, 2010
Messages
18,462
Reaction score
28,139
yeah, I have been reading all my trusted sources to try and figure when to pull the trigger. Lyn Alden mesmerizes me. I can't say that I understand everything she says but I believe her. I love watching the faces of these older seasoned investment guys who interview her. Sometimes their mouths hang open. We could have another correction but I'm not sure its worth the aggravation and risk of waiting.
June 28th is when Gold, and possibly Silver begin to change. My bet is for the better $$$$$$$$$$$$$$$$$. YMMV
 

the_shootist

I identify as fully vaccinated so I'm good!
Midas Member
Sr Midas Supporter +++
Joined
May 31, 2015
Messages
62,586
Reaction score
124,327
Location
Earth
June 28th is when Gold, and possibly Silver begin to change. My bet is for the better $$$$$$$$$$$$$$$$$. YMMV
Pray tell what is the source of your information sir?? Inquiring minds want to know!
 

GOLDBRIX

'SUSH, MY NEW SAFE HOUSE"
Midas Member
Midas Supporter ++
Joined
Apr 4, 2010
Messages
18,462
Reaction score
28,139
yeah but you got to admit she is like watching a walking, talking computer. Also unlike Zang she doesn't keep telling us how rich we will be if we buy gold. They hype her videos like that but she really doesn't. Her view is way more balanced.
They are all telling the same story. Styles like in fights makes the difference.
 

the_shootist

I identify as fully vaccinated so I'm good!
Midas Member
Sr Midas Supporter +++
Joined
May 31, 2015
Messages
62,586
Reaction score
124,327
Location
Earth
What is it we're looking to 'pull the trigger' on here anyway? I'm actually a bit confused.
 

chieftain

Too much pawpcorn
Joined
Jan 4, 2020
Messages
3,465
Reaction score
5,259
Buying more physical shooty.
 

GOLDBRIX

'SUSH, MY NEW SAFE HOUSE"
Midas Member
Midas Supporter ++
Joined
Apr 4, 2010
Messages
18,462
Reaction score
28,139

Avalon

The most courageous act is to think for yourself
Site Supporter
Platinum Bling
Joined
Mar 30, 2010
Messages
4,257
Reaction score
6,437
Location
NC
What is it we're looking to 'pull the trigger' on here anyway? I'm actually a bit confused.
time to buy some Pms. I have not bought in many years. I have been going through sticker shock since I last bought gold at 700-1000 with no premium. I am adjusted now, it was a process. Losing my Local dealer has been hard. He was the only one I ever dealt with.
 

the_shootist

I identify as fully vaccinated so I'm good!
Midas Member
Sr Midas Supporter +++
Joined
May 31, 2015
Messages
62,586
Reaction score
124,327
Location
Earth
Buying more physical shooty.
I buy all the time, I buy on the way up and on the way down. Of course I try and buy the dip as much as possible but the dips at the retail level are small and somewhat inconsistent and of course, largely unpredictable
 
Last edited:

the_shootist

I identify as fully vaccinated so I'm good!
Midas Member
Sr Midas Supporter +++
Joined
May 31, 2015
Messages
62,586
Reaction score
124,327
Location
Earth
time to buy some Pms. I have not bought in many years. I have been going through sticker shock since I last bought gold at 700-1000 with no premium. I am adjusted now, it was a process. Losing my Local dealer has been hard. He was the only one I ever dealt with.
Yeah, the days of $700-1K oz gold are gone I'm afraid. That ship sailed years ago. Bargain prices today are more like <$1900 oz

I think someone here posted something like this before.....

The best time to buy PMs was 50 years ago, the second best time to buy them is today


...or something like that! :)
 

GOLDBRIX

'SUSH, MY NEW SAFE HOUSE"
Midas Member
Midas Supporter ++
Joined
Apr 4, 2010
Messages
18,462
Reaction score
28,139
I buy all the time, I buy on the way up and on the way down. Of course I try and buy the dip as much as possible but the dips at the retail level are small and somewhat inconsistent
You can not do any better than DCA - Dollar Cost Averaging.
 

GOLDBRIX

'SUSH, MY NEW SAFE HOUSE"
Midas Member
Midas Supporter ++
Joined
Apr 4, 2010
Messages
18,462
Reaction score
28,139
Yeah, the days of $700-1K oz gold are gone I'm afraid. That ship sailed years ago. Bargain prices today are more like <$1900 oz

I think someone here posted something like this before.....

The best time to buy PMs was 50 years ago, the second best time to buy them is today
I resemble that remark. Maybe others IDK
 

the_shootist

I identify as fully vaccinated so I'm good!
Midas Member
Sr Midas Supporter +++
Joined
May 31, 2015
Messages
62,586
Reaction score
124,327
Location
Earth
...and Ming the Merciless...sorry, couldn't help it. Don't know those other names and I felt Ming sounded like a good fit...carry on.

You rang?
1623162124917.png
 

Avalon

The most courageous act is to think for yourself
Site Supporter
Platinum Bling
Joined
Mar 30, 2010
Messages
4,257
Reaction score
6,437
Location
NC
Yeah, the days of $700-1K oz gold are gone I'm afraid. That ship sailed years ago. Bargain prices today are more like <$1900 oz

I think someone here posted something like this before.....

The best time to buy PMs was 50 years ago, the second best time to buy them is today


...or something like that! :)
back in the day when I was buying I was on my own.. No GIM, just Bob Chapman and Chris Walczak on goldseek radio every weekend. That's back when my family thought I was nuts because I was also prepping and buying guns too. I quickly learned to be quiet and just go about my business. My instincts were to buy a lot more Pms than I did but I compromised. I did the best I could with the opposition I had at the time. This time around Im going to do what I know needs to be done. BTW, no one thinks Mom is crazy anymore :)