Precious metals getting hammered today

[Malsua 1,422]

Didnt the feds raise the interest rate. That would correlate to precious metals prices.

 

Inverse relationship.   Higher interest rate means the economy is doing better meaning money moves to stocks and out of PM.

[Golf battery 1,223]

Thats what i thought.

[Alex V 99]

I've been slowly investing in ammo. However the plan is not for resale. If shit REALLY hits the fan, I won't be selling it, I'll be using it lol.

 

In the same situation, as someone said earlier, gold won't be worth much as you can't eat it, procure something to eat with it, or defend yourself with it. :-)

[Old Glock guy 1,127]

I've been slowly investing in ammo. However the plan is not for resale. If shit REALLY hits the fan, I won't be selling it, I'll be using it lol.

 

In the same situation, as someone said earlier, gold won't be worth much as you can't eat it, procure something to eat with it, or defend yourself with it. :-)

 

In a perfect world you would have both:  precious metals to preserve your wealth and ammo to defend it.

[SmittyMHS 603]

I've been slowly investing in ammo. However the plan is not for resale. If shit REALLY hits the fan, I won't be selling it, I'll be using it lol.

 

In the same situation, as someone said earlier, gold won't be worth much as you can't eat it, procure something to eat with it, or defend yourself with it. :-)

I've always felt that way. You can trade 1 round at a time if things get real bad if need be. What good will an ounce of gold do ya? It's all according to what scenario you want to think of.

[Alex V 99]

In a perfect world you would have both: precious metals to preserve your wealth and ammo to defend it.

Precious metals, just like anything, are only worth what people are willing to pay for them. Take a situation like we see in One Second Aftet or Lights Out or Alas Babylon. Gold is not worth defending. Sure, maybe one day it will be worth something again. Maybe. In the meantime, ammo can be traded for food, can acquire food and can protect both you and your food. If it gets to that situation, I'd rather have lead/copper than gold.

 

Hell, once the people who have the gold run out of ammo, those who invested more in the latter than the former, can have both.

[mipafox 438]

You aren't paying your taxes with ammo, and that's pretty much the last thing to go in SHTF. You're also not chartering a boat from Canada. You are not bribing an Army officer to let you leave a lockdown area - or to skip your house in a weapons sweep. We have seen SHTF dozens of times in modern history, wealth is what makes the difference. Security, food and water, and self-sustainability are highly valuable. But you are still in the same position as everybody else at the end of the day without currency.

[T Bill 649]

You aren't paying your taxes with ammo, and that's pretty much the last thing to go in SHTF. You're also not chartering a boat from Canada. You are not bribing an Army officer to let you leave a lockdown area - or to skip your house in a weapons sweep. We have seen SHTF dozens of times in modern history, wealth is what makes the difference. Security, food and water, and self-sustainability are highly valuable. But you are still in the same position as everybody else at the end of the day without currency.

I would say PM, ie gold, not currency.  At some point currency not worth the paper printed on.

[DirtyDigz 1,812]

Gold back over $1,500, silver over $18.  I think fear over another currency devaluation race (especially Chinese Yuan) is driving this.

[CMJeepster 2,778]

50 minutes ago, DirtyDigz said:

Gold back over $1,500, silver over $18.  I think fear over another currency devaluation race (especially Chinese Yuan) is driving this.

Or people getting out of the stock market and into this.

[Sota 1,191]

which sucks as I might have some funds to invest more into my collection, but i'm going to wait for the prices to drop.

[DirtyDigz 1,812]

Silver over $26, Gold over $2,000

https://comparesilverprices.com/

[DirtyDigz 1,812]

Interesting observation I read elsewhere:

 

Quote

At its ATH in November 2017, one Bitcoin could be traded for 15 ounces of gold bullion. Mind you, those were some manic days for crypto. 
 
In the first half of 2019, Bitcoin experienced another powerful rally which propelled price from $3,500 to $13,000. In June 2019, at the peak of that rally, one Bitcoin would net you 10 ounces of gold bullion. 
 
So far this year, we have witnessed a powerful rally that has rocketed Bitcoin from $4,000 to $16,600, and the ATH of $18,000 is in sight. Today, one Bitcoin will net you just shy of 9 ounces of gold bullion.