GLD anyone?

[ultramartian]

Hi Sol, I currently hold some GLD Jan 2022 call contracts that's currently -40%. I know I shouldn't be worried because we all know so well that Gold (and Silver) has been artificially suppressed by the banksters. My question is under what circumstances do you think that they can't suppress the precious metals any longer that the prices will rebound in a vengeance?

[Triplethought]

Hi Sol, I currently hold some GLD Jan 2022 call contracts that's currently -40%. I know I shouldn't be worried because we all know so well that Gold (and Silver) has been artificially suppressed by the banksters. My question is under what circumstances do you think that they can't suppress the precious metals any longer that the prices will rebound in a vengeance?

How would bankers suppress gold and silver prices? Does this imply that they own big positions (or hold physical gold) and would Sell Gold into the market if the price went up to increase the supply? Googled and found this

http://gata.org/

If it's true bankers are manipulating the price using the futures market (the allegation I've read) you hold the very instrument they control. Personally that would make me worried because they can do that easily until Jan of next year. There has been hyperinflation speculation and although I don't believe it if true you'll be OK.

GLD is supposedly down last 2 days because of "strong dollar". My UUP stock was up last few days, meaning "strong dollar". If SOL is right and the FED wants to weaken the dollar then the next move will be for FED to introduce liquidity, weakening the dollar again, which should drive GLD back up. What is the strike price on you Call?

[AstuteShift]

When it comes to precious metals I just buy the bullion.

These trusts of GLD and SLV are heavily manipulated markets so instead of raising my blood pressure I just accumulate the bullion to 10 percent of my assets

Hard money fan but certainly no hard money fool or bug

[ultramartian]

How would bankers suppress gold and silver prices? Does this imply that they own big positions (or hold physical gold) and would Sell Gold into the market if the price went up to increase the supply? Googled and found this

http://gata.org/

If it's true bankers are manipulating the price using the futures market (the allegation I've read) you hold the very instrument they control. Personally that would make me worried because they can do that easily until Jan of next year. There has been hyperinflation speculation and although I don't believe it if true you'll be OK.

GLD is supposedly down last 2 days because of "strong dollar". My UUP stock was up last few days, meaning "strong dollar". If SOL is right and the FED wants to weaken the dollar then the next move will be for FED to introduce liquidity, weakening the dollar again, which should drive GLD back up. What is the strike price on you Call?

I think the banksters suppress the price of gold and silver in order to prevent the fiat from collapsing. If they don't suppress the precious metals and the price sky-rockets, then people would abandon the fiat and rush into precious metals.

The funny thing is I also hold some UUP call options and it's currently also under water. My GLD strike price is $200 which is a reasonable price considering GLD reached as high as just $193 last August.

[ultramartian]

When it comes to precious metals I just buy the bullion.

These trusts of GLD and SLV are heavily manipulated markets so instead of raising my blood pressure I just accumulate the bullion to 10 percent of my assets

Hard money fan but certainly no hard money fool or bug

I know very well that GLD and SLV are heavily manipulated, but I am just too reluctant to get the physical bullion as it's not as liquid as the securities. Maybe I need to change my mindset.

[Budge]

When it comes to precious metals I just buy the bullion.

These trusts of GLD and SLV are heavily manipulated markets so instead of raising my blood pressure I just accumulate the bullion to 10 percent of my assets

Hard money fan but certainly no hard money fool or bug

Totally agree. Stick to the physical but I go for junk silver or older denomination gold coins (prefer sovereigns).

Yes there is manipulation esp JPM (Blythe Masters) a few years ago, using the paper derivatives. But the gold bugs have been complaining non stop for decades about the price suppression. If I'm that big a manipulator then I'd drive the price up as well as down. I'd get you coming and going.

[AstuteShift]

Another issue is that the dollar is set to go a monster rally so that doesn’t bid well for gold although eventually both will rise together however the dollar is still king

https://youtu.be/PWVRWUkm54M

SOL mentioned this months ago however in much simpler and pretty clear terms

[Triplethought]

Totally agree. Stick to the physical but I go for junk silver or older denomination gold coins (prefer sovereigns).

Yes there is manipulation esp JPM (Blythe Masters) a few years ago, using the paper derivatives. But the gold bugs have been complaining non stop for decades about the price suppression. If I'm that big a manipulator then I'd drive the price up as well as down. I'd get you coming and going.

A few months ago my neighbors house burned down. We think the cause was his newly installed solar panels arcing in the attic. But to the point, he looked at me in horror and said "My savings of $60,000 in silver is in various places in that house". He and his wife ended up sorting through the ashes with metal detectors for weeks and managed to recover $40K worth of silver.

My friend has a 100K worth of gold in his house. It is not in a fireproof area but well hidden and I'm the only other one in the world that knows where it is (in case he dies I'm to give it to his children). Anyway the moral of the story is those of you who hold physical, make sure you buy a fire proof safe (or 2) and make sure someone you trust knows where it is.

[stefk]

precious metals, buy physical for safety and for the future scarcity, and buy explorers miners for the leverage and the future production

[bpcw]

PMs have performed poorly since the dollar turned up, what do people think of them going forward, especially given that the dollar is likely in a new bull run?

Apart from the physical I don't have any position in an etf tracking the spot price or miners.

[AstuteShift]

PMs have performed poorly since the dollar turned up, what do people think of them going forward, especially given that the dollar is likely in a new bull run?

Apart from the physical I don't have any position in an etf tracking the spot price or miners.

It will trend higher but not nearly as fast as the momentum tech stocks with AI or crypto. Everyone wants fast gains

Millennials and zoomers consider gold and silver as relics. Gold bugs are still clinging to price targets that are crazy

Better to just hold bullion as a hedge

[Yodean]

My sense is that gold has a decent chance of breaking 2k sometime later this year.

As for the USD, although I am long-term bullish, I would guess that it will be mostly range-bound between 88 and 96 for the remainder of 2021, accounting for the possibility of temporary spikes above or below this range.

The Fed cannot allow the USD to go up too quickly and too much, or else the whole Eurodollar system (the black hole of unregulated U.S.-denominated debt outside the U.S.) will come crashing down, along with global equity markets.

Pure speculation on my part, but I cannot see the USD at say, 115, this year, without a corresponding 20% to 30% crash in the equity markets. This will likely happen at some point, but not 2021, I daresay. If this occurs this year, it may represent the Fed losing control, which I don't envision happening (although I must admit, Jerome looks a little more tense these days than his usual calm, collected, quietly superior demeanor ).

Put in another way, the Triffin dilemma is starting to gain ever-increasing significance.

[SOL]

These deliberations of the Fed losing or not losing control remind me of a little Girl peeling the petals from a flower and muttering he loves me, he loves me not. Boring at best and possibly entertaining if you are drunk.

The Fed is still here, all those claiming it would blow or crumble are either dead or dying. These rants and raves are boring. Life is short, stupidity never-ending and what-if scenarios are good for those that love headaches.

The USD could hit 115 but it's not going to happen at a fast rate. As all central bankers are in a race to the bottom (the idea being to finish last), assets will inflate to compensate for the currency destruction. In between, there will be corrections ranging from mild to downright extremely wild, but those will prove to be buying opportunities.

Put in another way. one day you will die that is a certainty but yet most don't focus on their death, they try to focus on living. So focus on the opportunity factor and forget the Fear factor

[bpcw]

Thanks for all the responses!

The articles regarding the Fed, and all the reasons why gold & silver should or is going to the moon tomorrow, now bore me to death when once I poured over them with delight! Occasionally I go to one site (where I found TI) where "financial experts" post their articles and with most I cannot get past a paragraph without saying "bla bla bla" and quickly moving on to the next, rarely finding anything of interest, most have reams and reams of meaningless diagrams which look like spaghetti thrown at a wall.

I suppose I have had in the back of my mind what Sol has said regarding gold reaching a new high and so is technically in another bull market but to expect a pull back which will be mistaken for gold's bull run to be over but will quickly bounce back, but also slightly cautious comments regarding seeing how gold responds to a dollar bull run.

I haven't paid too much interest in the PM's for a while as there have been numerous opportunities in other commodities that I have profited from but silver & gold could look attractive soon so I will be open to purchasing a small amount in a geared ETF.

[AstuteShift]

Instead of GLD or SLV, you can look into miner stocks and place small positions in them

If the precious metals explode, then these miners can potentially go off like cryptocurrency compared to the ETF counterparts