Gold - has it topped?

[Chibearsv]

Question for the financial geniuses out there.  Where is gold headed?  It's just a hair off $4950 an ounce right now.  I've sold half of what I had and I'm thinking I'd be dumb riding any more of it at this point.  I'm curious if there are other driving forces that are pushing physical gold prices higher other than market volatility due to world political uncertainty.  I've enjoyed the ride up, especially since it's topped my expectations.  Who's got some insight on precious metals?  I'm not looking to carry much risk at this point of my life.  Should I free-ride what I've got or take the return at this top?

 

[cnov]

Absolutely no expert here. 

Isn't a stock market crash the big factor that we're waiting on and yet to see? 2008 was a triple or thereabouts for gold prices. 

I'm keen to see what the experts have to say on the matter too. 

 

[joeypots]

FWIW my wife  had been holding a bag of pre '64 US coin junk silver her father gave her in the seventies.  Not huge but not nothing. Sold it a week ago. Gold is up something like 75% in a year, silver is pushing over 95$ for a one year gain of 200%. Kind of a bonanza and I bet my FIL, who collected the coins over years as a hobby, would cry to see the we got about 50$ for each dollar of coins.

Sell or hold in such a bull market for precious metals?  I wouldn't worry about missing the top and if the metal drops significantly it can always be bought again.  A trader friend of mine once said it's never wrong to take a profit. 

[El Presidente]

USD has fallen 9% in the past 12 months against the basket of other major trading currencies. 

Perceived international economic/social/political risk is the highest since WWII. 

Central banks are buying gold aggressively as a reserve asset. 

Gold has proven itself to be a better (more price consistent) hedge than Crypto. 

 

I am not seeing too many downward price pressures on Gold. 

 

[Chas.Alpha]

Silver is bumping $95.00 USD. I sold 1/2 of mine at $50. 😔

I’m cashing out the rest tomorrow. 

[Chas.Alpha]

2 hours ago, Chibearsv said:

Question for the financial geniuses out there.  Where is gold headed?  It's just a hair off $4950 an ounce right now.  I've sold half of what I had and I'm thinking I'd be dumb riding any more of it at this point.  I'm curious if there are other driving forces that are pushing physical gold prices higher other than market volatility due to world political uncertainty.  I've enjoyed the ride up, especially since it's topped my expectations.  Who's got some insight on precious metals?  I'm not looking to carry much risk at this point of my life.  Should I free-ride what I've got or take the return at this top?

 

Scott, my take is like Joey P said, Never be ashamed to take a profit. I sold half of my physical silver when it hit $50. The other half will be gone before I go to bed Saturday night. Do I feel bad about missing out on 50% on the 1st half?

Kinda. Oh, well…

[barrygoodvibes]

My friend who works for Merrill Lynch told me in cases where I’ve made a lot of money on my investment, it is best to triage it. Sell a third, set a stop to sell a third, and let the other third ride. 
 

If you are older and want less risk then just sell and put your winnings into an index fund like VOO or QQQ. 

[Chibearsv]

22 minutes ago, Chas.Alpha said:

Scott, my take is like Joey P said, Never be ashamed to take a profit. I sold half of my physical silver when it hit $50. The other half will be gone before I go to bed Saturday night. Do I feel bad about missing out on 50% on the 1st half?

Kinda. Oh, well…

Yeah, that’s the way Im leaning too. I sold half and Im already profitable. I thought free riding silver dollars in 79 & 80 was a great idea.  Only took 45 years to make that decision pay off 😁.

[Chas.Alpha]

1 minute ago, Chibearsv said:

Yeah, that’s the way Im leaning too. I sold half and Im already profitable. I thought free riding silver dollars in 79 & 80 was a great idea.  Only took 45 years to make that decision pay off 😁.

A word of caution for those that have Morgan/Peace silver dollars. Please check the dates and mint marks. PCGS has a fine price guide posted. For example, a 1878 S is pretty common, but a 1893 O is worth $1000+ in excellent condition. Anything the has a mint marks CC (located below the eagle’s tail feathers on the reverse side) demands a premium. Peace 1921’s are rare and a 1928 P (no mint mark) are the prize of the series. 
 

please consult the price guide or reach out to me with any questions.

[Chibearsv]

3 minutes ago, barrygoodvibes said:

My friend who works for Merrill Lynch told me in cases where I’ve made a lot of money on my investment, it is best to triage it. Sell a third, set a stop to sell a third, and let the other third ride. 
 

If you are older and want less risk then just sell and put your winnings into an index fund like VOO or QQQ. 

I like the third’s strategy.  Good advice for younger investors.  I always thought a 50/50 plan would work well but always seemed to hit it at the top followed by a major drop without a stop plan. Not optimal, that’s for sure. 

[Chas.Alpha]

1 minute ago, Chibearsv said:

I like the third’s strategy.  Good advice for younger investors.  I always thought a 50/50 plan would work well but always seemed to hit it at the top followed by a major drop without a stop plan. Not optimal, that’s for sure. 

Oh, wait. I gotta get a screen shot of my stock investments bought from the profits of selling silver.

please stand by…

[Chibearsv]

@Chas.Alpha you might hear from me this weekend. I’ve got to check my silver stash.

[Chas.Alpha]

Just now, Chibearsv said:

@Chas.Alpha you might hear from me this weekend. I’ve got to check my silver stash.

3 ABSOLUTE BULLS IN THE PEN!

1 dog rocket that wiped the others out. 😭

[Chibearsv]

1 minute ago, Chas.Alpha said:

3 ABSOLUTE BULLS IN THE PEN!

1 dog rocket that wiped the others out. 😭

We share investment skill my friend. 

[Chas.Alpha]

I gotta run across the street before the “Storm of the Century” drops 4 flakes of snow in NC. You up for an 8:00?

[Chibearsv]

19 minutes ago, Chas.Alpha said:

I gotta run across the street before the “Storm of the Century” drops 4 flakes of snow in NC. You up for an 8:00?

Yep. I’ll check with the other characters.  8:00 your time right?