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Manic monday beatdown on metals

Casey Jones

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It's coming back to Earth. It was tremendously over valued as bullion and now that real pressures in the markets are becoming more evident bullion investors are getting out of the designer metals and getting into the safe haven of real and traditional money.

Just my .02. :)
Palladium and platinum offer everything gold does...except for general recognition.

I think, in the end, when the ca-ca hits the blower (soon, it's looking) people aren't going to be wanting to take time learning about palladium and platinum. GOLD will be a universal language. Not while the bullets and firebombs are flying; but after the carnage.

I wouldn't want to have a hole filled with coins bought dearly, that no surviving hominid knows of their content; who think are pot metal slugs.
 
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southfork

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Silver getting a holiday ass kicking and no deals to be had wtf over
 

solarion

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It's coming back to Earth. It was tremendously over valued as bullion and now that real pressures in the markets are becoming more evident bullion investors are getting out of the designer metals and getting into the safe haven of real and traditional money.

Just my .02. :)
It's also a primary catalyst metal in fossil fuel vehicles. ...ya know, the ones TPTB say they're going to eliminate.
 

the_shootist

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Casey Jones

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They'll never eliminate them.

In the morphing police state, however, they probably WILL grossly restrict their use, and indirectly, their sale. Economic contraction and a falling standard of living, thanks to fiat-printing, medical-tyranny, and general abolition of liberty...means personal automobiles will be a luxury, and NEW cars, something only government can buy.

Which means, nobody can buy, since government purchases cannot support the industry.

Stick with what has been proven. Gold and silver.
 

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solarion

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“We see the beginnings of platinum being substituted back into gasoline catalytic converters,” Bloomberg quoted David Jollie, head of sales and market insight at global miner Anglo American Plc. “This will bring palladium back from its fundamental supply deficit and closer to balance.”
The swap from platinum to palladium use as a gasoline engine catalyst was done due to the high price of platinum. Now platinum is cheap relative to palladium...so one shouldn't be surprised to see the equation reverting. Furthermore, though platinum is allegedly more prevalent than palladium in the Earth's crust, the drop in consumption has resulted in far less of the former being mined since the swap to the latter as a gasoline engine catalyst.

1637954044628.png


People stacking palladium bullion were being warned some while ago. The metal itself has few uses beyond its use as a catalyst in gasoline engines and as demand for that application dwindles so will demand for the metal.
 

Unca Walt

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This beatdown is a "golden" opportunity to pick up some PM's at UNDER bargain prices.
 

solarion

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Bullion prices haven't really moved much. 1oz AU bars are $1875ish, 1oz sovereign AG is still around $28.50 with generic rounds a dollar less. It's mostly just significantly lower paper prices with premiums simply expanding to make up the difference.

Edit: Looks like I was stacking sovereign silver coins in bulk in Q1 '21 at average prices around $29 delivered, though the "price of silver" was 3 bux higher than it is currently. Quite a scam these banksters got going.
 
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the_shootist

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Avalon

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Avalon

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platinum to palladium use as a gasoline engine catalyst was done due to the high price of platinum. Now platinum is cheap relative to palladium...so one shouldn't be surprised to see the equation reverting. Furthermore, though platinum is allegedly more prevalent than palladium in the Earth's crust, the drop in consumption has resulted in far less of the former being mined since the swap to the latter as a gasoline engine catalyst.

View attachment 234289

People stacking palladium bullion were being warned some while ago. The metal itself has few uses beyond its use as a catalyst in gasoline engines and as demand for that application dwindles so will demand for the metal.
interesting article on that switch from palladium to platinum.

 

nickndfl

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SD Bullion usually has best prices on random 1oz. platinum coins. I got some 1/10s too. They look like thick dimes.

Platinum is definitely shiny, shiny like .9999 gold. It gives me a similar tingle, especially when it is half the price of gold.

 

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SD Bullion usually has best prices on random 1oz. platinum coins. I got some 1/10s too. They look like thick dimes.

Platinum is definitely shiny, shiny like .9999 gold. It gives me a similar tingle, especially when it is half the price of gold.

I love platinum. It is the most beautiful metal ever. I'm waiting to see what happens Monday morning.
 

oldgaranddad

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Avalon

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What happened to Monday morning beat down :( Shooti did you buy last week? Have both my buying strategies been undermined?
 

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As I've said before, I'm not all that concerned about spot price or premiums. Of course I try save as much a possible but in the end, I firmly believe the metals will still retain value over time whereby the FRN's will eventually be worthless. The amount of the later I move to the former will determine how much wealth I was able to protect over the long term. The dollar is indeed on its last leags. Couple that with inflation and today's spot price + premiums will eventually be termed 'the good old days'!

My .02 only. You don't want to be taking financial advice from me unless it makes sense to you :fishing:

Same here. While it's fun to look at the ticker at the top of the page, I haven't lost or gained anything with what little I have. It's the same # of ounces regardless of the swings in price and I will continue to acquire a little at a time as the days/weeks/months/years go by.
 
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nickndfl

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I called the bottom in platinum @ $1050/ 1oz. coin.

It may go lower if things slow down. Gold was predicted to test $1700/oz. I would load up like I did on Black Friday guns and ammo deals.
 

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I bought my first gold fractional. The premium!! AHHH!
 

the_shootist

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Curious bump this morning. Can anyone who watches the news offer an opinion of what's driving the bump in metals today?
 

Casey Jones

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Curious bump this morning. Can anyone who watches the news offer an opinion of what's driving the bump in metals today?
Enough clear thinkers, backing up the truck?

More likely, foreign central banks, buying gold derivatives - and with firm plans to actually settle. Maybe a majority of Americans can't see the jig is up. Outsiders surely can.
 

the_shootist

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Enough clear thinkers, backing up the truck?

More likely, foreign central banks, buying gold derivatives - and with firm plans to actually settle. Maybe a majority of Americans can't see the jig is up. Outsiders surely can.
More likely manipulation to setup their next profit taking exercise

Note, as I typed this gold spot fell >$15 oz
 

Casey Jones

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More likely manipulation to setup their next profit taking exercise

Note, as I typed this gold spot fell >$15 oz
I think we have two sets of players at work.

The monkey-hammer crew, and whoever's buying up what's out there.

The price goes down just as offices open, Central Time...Chicago exchanges, DUMPING. Can you say Jay-Pee-Morgan, kids?

The Eastern European and Chinese central banks and private buyers are not so stupid.
 

the_shootist

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They wiped out this morning's gains in less than 15 minutes :laughing:
 

Casey Jones

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Sad how they get away with it
They own the regulators.

"Regulatory Capture." It will continue until it cannot.

Since the Global Elites aren't going to admit defeat, readily...I expect this culminates in world war.
 

southfork

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Now in the red wtf over
 

Casey Jones

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Now in the red wtf over
Passing paper back and forth.

That's all.

If we had real regulation, the whole of JPMorganChase would be frog-marched into Federal Court.

We don't, and that's that.

I'm with you. Eventually I'll need to sell my stacks...I didn't buy them dearly to let my lawyer's paralegal throw them out as scrap after I'm gone.

But the whole of our financial structure is now manipulated, false, un-real CRAP. There is no true price discovery. We're there with Cuban pesos or Soviet-era rubles.
 

the_shootist

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Now in the red wtf over
These beat downs 'force' me to move more FRNs into metals....the next beat down might very well be the last so take advantage of the opportunities while they last
 

Casey Jones

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Does anyone actually HAVE coins/bars at this new monkey-hammered price?

When the "official" price is low, and there's nothing to sell...kinda useless, what?