Gold - 13 year cup and handle breakup

[jim584672]

I'm not a goldbug, but the gold chart is super bullish right now. Anyone else noticing this?

 

[calmloki]

Yeah, last couple days our ounces have bounced right up
12/3 $2062
3/6 $2128
#/20 $2159
4/1 2181
4/2 $2262

We use AJPM's buy price for Philharmonics and cunningly don't make tracking entries into Quicken if the price isn't up more than a couple bucks. Which may mean that gold didn't shine for us the first few months of the year. But this week?!

 

[Jerry1]

I just have a few coins. My most recent purchase was 5 ounces over the past couple months. It’s good to see spot greater than what I paid for all of them. I’d hope gold continues to go up except for the fact that it’s an indicator of trouble in the economy.

 

[CSdot]

Agree it is the mother of all cup and handles, but it took 3 whole years to get here. The cup itself is 8 years from rim to rim, so maybe 3 years to launch makes sense.

 

[DrRoy]

I'm not a buyer here but it's nice to see for my few ounces of coins.

 

[MarieIG]

Yes, I notice gold prices.

 

[Montecfo]

My 1/10 of an ounce is getting valuable!

 

[Spock]

I bought some physical in 2008/9 and have added etf OUNZ (supposedly can redeem for physical) and 2x leveraged UGL in pre-tax accounts to try to inflation barbell what is otherwise all fixed income. The upswing is nice. But I don't have enough allocated to it to be able to say I'm "winning"... but I guess the goal is just not to lose relative to inflation.

 

[Dash man]

Our 40 ounces of gold American Eagles and a few more ounces of proof coins have gone up in value nicely. Our purchase prices range from $350/ounce up to about $1,300. I’m not buying any more at age 67, but enjoy the current rise in prices.

 

[AudiDudi]

Jumior gold miners are up nicely. 10%+ on several today alone and some 50%+ YTD

 

[ownyourfuture]

Always wanted to buy a St. Gaudens $20 gold piece, but always thought they were too expensive. Oops

I did go on a Franklin half & 1964 Kennedy buying spree on eBay in 2017.
Those have appreciated nicely.

 

[TheWizard]

I have NO GOLD whatsoever, aside from my class ring.
Am I doomed

 

[VanWinkle]

I've noticed it and remember that I don't invest in things that don't include income. That has kept me from investing in gold and crypto. I have been successful without those investments. Congrats to those that own gold for now.

 

[mathjak107]

I've noticed it and remember that I don't invest in things that don't include income. That has kept me from investing in gold and crypto. I have been successful without those investments. Congrats to those that own gold for now.

keep in mind that for about the last 25 years a portfolio of equities and gold have beaten equities and bonds over almost every time frame with few exceptions

 

[VanWinkle]

keep in mind that for about the last 25 years a portfolio of equities and gold have beaten equities and bonds over almost every time frame with few exceptions

Congrats to you if you invested in gold.

Best,

VW

 

[mathjak107]

off and on thru the years

 

[indiajust]

i bought gold and silver etfs, plus miners, plus FBTC and crypto miners/MSTR.

all of this is in my 15% insurance allocation, tucked into roth.

I will be happy if my portfolio does well and accept commodity drag for these positions. If the elites wreck the currency, I will file a claim on this insurance policy. Keep calm and carry on.

 

[Raygun99]

Although I enjoy collecting various Silver Eagles and a few Gold Eagles, I never had a plan to sell... I am curious what strategy would exist to sell physical coins? I know there are in and out commission costs and of course tax.

 

[gcgang]

Just took a Maple Leaf out of the safe deposit and sold at a local coin dealer. He pointed out the coin had a scratch on it, so deducted $20 from spot price. Cash payout. Took my name, but no SS# so I don’t think they reported anything.

OP Jim - great call. You see any other cups and saucers out there let us know.

 

[Koolau]

I notice that Silver has taken a big jump as well. What's going on?

 

[copyright1997reloaded]

I notice that Silver has taken a big jump as well. What's going on?

Inflation part 2. WW Part 3? Absolutely no fiscal control. Craziness in general. While Gold is hitting new highs, Silver is a long way away from its high of almost $50/ounce. Gold and Silver miners are also quite a bit from their all time highs. One could take this as a negative or that they also have a lot of room to run.

I have about 5.5% of my investment stash in PM's as of EOY 2023, some in ETF form and some in physical. A little higher (maybe 6%) if you include gold and silver miners. [I don't look at asset allocations every month due to the hassle of figuring it out over multiple accounts.]

My "plan" is that I never sell any of it, and never "need" any of it.

 

[Koolau]

Inflation part 2. WW Part 3? Absolutely no fiscal control. Craziness in general. While Gold is hitting new highs, Silver is a long way away from its high of almost $50/ounce. Gold and Silver miners are also quite a bit from their all time highs. One could take this as a negative or that they also have a lot of room to run.

I have about 5.5% of my investment stash in PM's as of EOY 2023, some in ETF form and some in physical. A little higher (maybe 6%) if you include gold and silver miners. [I don't look at asset allocations every month due to the hassle of figuring it out over multiple accounts.]

My "plan" is that I never sell any of it, and never "need" any of it.

IIRC both gold and silver are significantly below their all time highs IF you account for inflation. Back in '79, gold hit it's peak in TODAY's dollars. In 1980 is when the Hunts drove silver to $50 which is a way more than $50 in today's prices. So, in theory, both metals have a way to "run" yet, if history is any indication. I guess we'll see, though today hasn't been too favorable.

I agree on your philosophy of PMs as insurance that you never (or rarely) sell and hope you never need it. Roughly speaking, I think my PMs are about 5% of my invested assets. Since I have a relatively low equities position, my PMs have actually done better than my overall portfolio over time. That wouldn't be true, of course, if, like many here, I was at 80 to 100% equities. PMs have been a drag vs equities, BUT during the '08 debacle (and the last week) I've looked pretty smart. Not so much the rest of the time, but YMMV.