Gold Skyrocketing!

[cm_ls1]

I suppose thats what happens when you keep printing money.

 

[Dancing Fire]

And I sold some at $1680 and some silver at $18.50...

 

[Daisys and Diamonds]

I sold some scrap and a tiny krugger rand and was more than happy with what i got

 

[AGBF]

I never sold any of my gold jewelry when gold reached its peaks before. And it has skyrocketed before. How high is it compared to past highs?

 

[AGBF]

I found this on-line.

"The gold market is 'very strong' and could hit $3,500 in two years, one analyst told CNBC this week.

Prices have surged and reached record highs on Monday amid worries over the coronavirus pandemic and tensions between the U.S. and China.

'What is really significant is how quickly it went through that $1,923 which was the previous high. The other thing which was … very, very important was the fact that it went through $1,800 and with similar ease,' said Barry Dawes, executive chairman at Martin Place Securities. 'That’s basically saying to me that this is a very, very strong market.'

Spot gold traded about 0.55% lower at about $1,931.24 per ounce on Tuesday afternoon in Asia.

'I’m looking for $3,500 within two years,' Dawes told CNBC’s 'Street Signs Asia.' He said some consolidation is 'probable,' but the underlying strength of the rally is 'very significant'."

https://www.cnbc.com/2020/07/28/gold-prices-could-hit-3500-in-two-years-analyst-says.html

 

[YadaYadaYada]

@stracci2000, looks like we should have hung on to our scrap gold a little longer

 

[Dancing Fire]

@stracci2000, looks like we should have hung on to our scrap gold a little longer

I'll sell my scrap gold when the next coin show comes to town. I would have sold em three month ago had they not cancel the show due to Covid 19.

 

[bling_dream19]

Is a coin show the best place to sell scrap? I definitely have single earrings, broken necklaces etc and don't know where to sell.

 

[stracci2000]

@stracci2000, looks like we should have hung on to our scrap gold a little longer

I just pulled out my old receipt, and if I waited till now, I coulda got another $250 for that pile of chains!

 

[bludiva]

interested to see if designers / independent jewelers start embracing alternative metals. going to be seeing more of that whisper thin jewelry i bet.

 

[nala]

I just pulled out my old receipt, and if I waited till now, I coulda got another $250 for that pile of chains!

How much are they paying per gram right now? I don’t know which calculator to trust.

 

[YadaYadaYada]

I just pulled out my old receipt, and if I waited till now, I coulda got another $250 for that pile of chains!

Where is the dislike button when you need it?!

 

[doberman]

I have a bagful of silver and gold items. Guess I should bring it in soon.

 

[voce]

And I sold some at $1680 and some silver at $18.50...

Too early, n00b!

You don't sell until price of gold is going down with an economic expansion. We need to be clear of coronavirus before that can happen.

 

[Dancing Fire]

How much are they paying per gram right now? I don’t know which calculator to trust.

An honest buyer should pay you about 90% of pure gold content. I bought these for scrap when gold was at $1400. The total weight is 164 grams of 22kt gold.

 

[stracci2000]

How much are they paying per gram right now? I don’t know which calculator to trust.

This is the one I use.

Scrap Gold Calculator (Live Gold Price) - GoldCalc.com

Gold calculator integrated with the live gold price to calculate an accurate value before buying or selling. Features include tips on selling, gram scale options, and links to credible resources.

www.goldcalc.com

A fair gold buyer will give you 85% of the value. @Dancing Fire says 90%, but I haven't seen that around here.
You can shop around for a gold buyer that will give you the best rate.

 

[Dancing Fire]

This is the one I use.

Scrap Gold Calculator (Live Gold Price) - GoldCalc.com

Gold calculator integrated with the live gold price to calculate an accurate value before buying or selling. Features include tips on selling, gram scale options, and links to credible resources.

www.goldcalc.com

A fair gold buyer will give you 85% of the value. @Dancing Fire says 90%, but I haven't seen that around here.
You can shop around for a gold buyer that will give you the best rate.

I'll pay 85% of content all day long and still make a good profit...

IIRC, When I was working in a coin shop many yrs ago we were paying 90% then sell it to the wholesaler for 93% or higher depending on quantity we have on hand. The more ounces we have the higher the % received from the wholesaler. This is when gold was trading at $325 - $350 per oz.

 

[cm_ls1]

I’m still holding a few of these blocks

 

[AGBF]

I’m still holding a few of these blocks

I love gold. I wouldn't mind owning a few of those. One of my cousins bought a silver bar before the government stopped selling them (or exchanging them as legal tender or whatever it is they used to do). He got it from the US government.

 

[AGBF]

"Gold bugs — investors perpetually bullish on gold — have long been seen as a paranoid fringe of the financial world, holding the shiny asset as a hedge against a disaster they always think is near. But lately, they appear to be on to something. This year, gold is the best performing traditional asset in the world. Its price just topped $2,000 an ounce for the first time. From serious investors to newly minted day traders, everyone is talking up its virtues.

...​

As an investment, gold has none of the virtues I admire, like innovation and dynamism, and many of the vices I despise, including the 'rent seeking' mind-set typical of extractive industries. But these times aren’t normal. Unless a vaccine emerges quickly, central banks stop printing money frantically and real interest rates start rising again, it is difficult not to be a gold bug now. "

Opinion | Why Is Everyone Buying Gold? (Published 2020)

It’s one of the best performing assets in the world this year. That’s not a great sign.

www.nytimes.com