China Pauses Gold Purchases & More
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- Опубликовано: 6 июн 2024
- Somebody is going to say it. Gold price got "crushed". The 3.1% drop is the biggest daily price drop since March of 2022. Let's take a look at what's causing it.
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I take full responsibility for the price drop, folks. I bought a couple ounces yesterday, and this happens every time.
Appreciate you!
know the feling!
lol
with gold under 2300 I know what I'm doing Monday...buying my first piece of gold.
Book it
Congrats on starting the gold stack!
People try to predict the economy not realizing it is central planned, not a capital market. Instead of having much cash sitting in the bank that could lose value to inflation, I've been pondering if I should invest in stocks or just buy gold to safeguard and grow my $350k reserve?
gold to me is an inflation hedge for long term, but not quite profitable in the short run. luckily some find solution in financial advisors
@mikemoffa truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
thanks for putting this out.. curiously looked up Karen Lynne Chess on the web and was able to schedule a call session via her consulting page, no doubt she shows a great deal of expertise..
When you try to sell gold. Everyone low balls the price. Even the refinery where they melt gold. Jewllers also low ball
Like @fromthebirchwood said holding gold in physical form is one way to hedge against inflation over the longer term but it's primarily a protection against sudden economic shocks and fiat currency debasement (which has been ongoing since coinage first came about). Most risk averse investors with high wealth value park around 5-10% of their wealth in gold and other precious metals. The real growth from gold (potentially risk of negative returns) is achieved through investing in producers / explorers of precious metals. Market forces being cyclical and heavily influenced by the prevailing commodity prices (which are near record highs) these producers should begin reporting higher quarterly earnings in the second half of 2024, in turn driving share prices higher as interest from institutional investors picks up.
You hear the beeping? That's me backing the truck up 🚚 ➡️🪙
LMAO!
Stop lying. More like a dime bag than a truck.
Ain't gonna complain about China's supposed pause in gold buying or market manipulation, makes adding to the stack that much easier. Keep it rolling.
Is China manipulating the gold market or are they just undoing Western gold price manipulation?
@@edb3877 Great question. I think China has more gold (and metals, in general) than anybody realizes. I surely don't believe any of their reporting on the matter and truly believe they under-reported for years. But, to the point of this current price drop, China reportedly "stopped" buying in May; which threw the gold market into a nosedive like a plane experiencing a low pressure pocket. Whether that was by plan or happenstance, I already took advantage with a small gold purchase. Keep on rollin'.
China probably is buying the same as it was but hiding it, why would they advertize what they are doing?
And so the cycle continues.
Indeed. Our entire universe seems to be based on regularly repeating cycles, so why not human nature and markets?
Almost a $2 drop in silver today also. I'm heading to the LCS tomorrow.
Excellent buying opportunity. Exchange some fiat currency for real money.
You are not alone
Gold is better buy now, we should have more time for silver.
@yefunehdavid1005 sliver was demonised by gold remember that it's thr original shipcoin
I was watching it happen live... I suspect a whole bunch of paper hitting the open market...
A drop?! Seems like someone will be heading somewhere to buy something again!!!!
mannn i bought it yesterday at it's peak 🤦♂
@@monclerpaint I have done that many times. It has always eventually gone higher.
@@monclerpaint Watch the moving average, when the price approaches it, that is when to buy. It saves buying at the peak and makes the dips easier to predict. Push high, then dip, then push higher, then dip. I actually think it will drop a little more yet.
@@monclerpaintI bought a 1/10 American eagle when gold hit 2438, it is what it is. For me it’s about ditching the dollar for actual money.
@@monclerpaintluckily, it was at my LCS and I paid 268. That’s still spot plus 10% though, not cheap.
"Because I'm sure that's accurate "
I laughed out loud at that one
😅
It's only accurate when Trump's in office, right? LOL
Silver dropped almost 7 percent today.
I started 3 years ago, it went up big! UK elections, US elections will be a sale for us all this year. I only buy for our family's future anyway and I know it will continue to rise in the future.
Actually, none of us *knows* that but it does seem to be the most likely outcome. We not only do not know the future but we cannot know it. All we can do is to make the most well-informed guesstimates of what's most likely to happen. I've been holding off making a gold purchase in 2024 but now seems a very good time for it. I still will have dry powder after
this particular buy, so if it goes lower, that will be a time for additional buys. Bonus time!
@@edb3877I sold out all of my gold when it breached $1,000. I saw all the gold nuts saying it would go back to $800, and I thought they were insane (I started buying in 1996).
I was probably wrong to sell, but nobody knows the future. Guys who bought at $800 would have waited over twenty years to get back in nominal terms (thirty+ in real prices).
The best policy is to buy steadily. Many purchases over time will dramatically reduce the risk of buying to high (also true with stocks).
Buy cheap keep or wait and sell expensive
No worries bc this is part of the metal market!
Just doing a bunch of house work and garden work this weekend. Life is good. We are blessed. Out.
Cheers!
I personally like the volatility. More opportunities.
Best time to buy
Gold didn't get crushed, it's just teasing me.
Out of All the Gold and Silver channels
On RUclips that I watch, this one is
By far my favorite. Always extremely
Well done, professional looking, and never so long, that I actually lose interest.. Another great video Sir..
Thank you!
I quit buying gold when they started selling it to all the sheeple at the Costco grocery store.
Ah bugger it .. I’m going fishing! Greetings to all from the land of Aus.
Gold isn’t going up and down: an ounce of gold is still an ounce of gold- it just takes more/less dollars to get it.
You really shouldn't be buying and holding this stuff anticipating market movements of a few hundred dollars anyways. We aren't gonna see the true value of gold until things get really bad out here.
@@stevexracer4309 good luck
@stevexracer4309 Geese I bought Gold at 450 an ounce and can remember 250...just 5-7 years ago it was 1300 an ounce...dont listen to the rhetoric...just lookatthe numbers yourself
@@stevexracer4309 I thought gold was overpriced in 2002.. it was $700 an ounce. TBH you don't know what you are talking about.
@@BegForMyMercy Correct! I started buying silver when it was $5, $8, $10, $15, etc. thinking it was high each time! Gold the same! Not sorry I did now!!!
It’s a fake market, metals are manipulated, everybody looks at the stock market when they should be paying attention to the debt market. My 2 cent bullion OPINION. 🤷🏾♂️
Love your videos ! You are straight to the point and informative. I look forward to watching whatever subject you choose to talk about. Keep up the great work.
Thanks!
Yup, economy is going great and love all these new jobs so we can make and then spend our money on regular goods that cost 20%-50% more. Love how our gov’t wants us to swallow this nonsense. Well, time to get back to work to earn that fiat and convert some to some PM.
Have a good weekend, everyone. Don’t drink the koolaid
😄
You think the economy is not doing good? The US has crushed it the last few year while other markets have been in decline, this is a free and global market. There is no Illuminati creating these figures, and certainly not the government, it's companies and innovation going great.
Great time to buy.
✊
Might be an even better time next week. 🤷🏼♂️
Yep $26
Recently found your channel and love the content. I appreciate that you discuss real world events and possibilities that could affect gold; the petrodollar is a genuine conncern.
Thanks for the great info and advice! 👍
Thanks man. I needed a chuckle today.
🚀
Love your content. Keep up the great work
Thank you!
So glad I bought just before drop 😬
Been waiting patiently for a pullback.
I heard once that Gold always exists independent of all currency and that it sometimes takes more paper or less paper to acquire it, but in the end at least you have real money.
I look at gold kinda like stocks . But in the long run gold usually goes up. I just put it to the side and feel good about its future.
Everything is okay folks, as soon as I get paid next Friday it’ll hit a new ATH before I buy. No need to freak out!
Ha!
Love this mini video... : ) Enjoyed the tone as well; it was there, right? Headed to WY to set up my soler install batteries at the cabin for the summer. Oh, and $2275 is my start buying again number....
Ha, glad it came through. Have a good weekend!
I may be wrong but I don’t think the US’s proclivity to spend money like drunken sailors was totally reversed today and they’re on a quest to strengthen the dollar.
I appreciate this short to the point video. People pad out their vids because theyre more profitable. I applaud you
Thank you!
Great video brother thanks for the info have a great weekend 🥃🥃🥃🥃💪
Thanks Nate - have a good weekend! 🥃
I'm never completely sure how much government sourced information to believe. That's especially true in an election year when the two sides like to make opposing claims. For me all I care about is that it's a good time to buy
Same.
"For me all I care about is that it's a good time to buy"
Amen to that, Bro. 🙂
I’ll be at my mine digging more of the shinning stuff up.😊
Bought my first Gold today, got a sweet Gold Eagle. Now i'm in the game. So happy that price dropped, feels like i got a good deal. Been here on this channel for quite awhile and i didn't think i would be able to get it until 2025 but God smiled on me. So happy to get my first Gold. Also glad to see Silver drop, made it cheaper to add to my stack with my usual Silver purchase. Great video too btw.
Eagles are only 90% gold + they have the highest premium.
@@UMKA1978 Yep, I already knew this. They also don't bend or get destroyed as easily as a Buffalo (which i don't really like anyways). They are also the most liquid (the most important part for me) and of course the premium wasn't that high for me but i have a great relationship with my LCS.
Picked up a couple of Maple Leaf '23 1oz coins from my local trader. Last gold purchases I did I made $500CAD each. Of course I'm not planning on selling any of it!
Love the display briefcase for the perths! Where did you get that and where can I get one??
I get them from www.coinsandmore.it Cheers!
The fates knew I wanted to buy this weekend
Good timing!
Love the look of that pocket knife, may I ask what is it? And is it still available to buy ?
It’s a Rockstead Higo II. Recon1 has one in: recon1.com/products/rockstead-higo-ii-ti-zdp-s?_pos=4&_sid=d64efd1cb&_ss=r
Great video -- and insight apparently on point ... I did lose a bit on gold trades (as the drop was about double what my risk was positioned for). Still overall bullish on gold and silver, but as you said, now it's ON SALE 🤪
🤜🤛
I’m going to make a purchase just trying to decide an ounce of platinum and a half ounce of gold ? Or just an ounce of gold? Same price either way. Platinum for what ever reason has me curious? Just a gut feeling so what would you do?
The Jobs Report is always overly optimistic and subject to revision when most people aren't paying much attention. Over the past 3 1/2 years, it's been usually revised downward later. The 10 years Treasury rate was up an almost identical amount to gold's drop. Most of the time when the 10 years Treasury rate goes up, gold goes down in a similar fashion. Investors see Treasuries as more attractive as their interest rates rise, and this tends to reduce gold demand unless other gold price drivers are hot. This is all to be expected, but it will be temporary. As I always say, go long. As you said, it's a great time to acquire more if you need more. 💪👊
What company do you recommend buying gold from ? I want to make sure I’m not overlooking a supplier with great prices. Thanks
SD Bullion. They’re a sponsor here, but they’re great all around. Cheers!
Thanks, I’m going there now !
I was able to lasso a nice golden buffalo today...😊
Nice!
Can you link us where you’re buying your gold boxes with red liner ?!
www.coinsandmore.it/
@@2is1gold thank you so much!!!
Who cares about gold, what knife is that?!
Ha! It's a Rockstead Higo II.
@@2is1gold thank you, it has been acquired.
I really like the compartmentalized coin box. Where did you get it?
www.coinsandmore.it/
Dirt bikes, kayak, metal detect and buying gold have a great weekend
✊
Like you said in your video 4 months ago… nothing changed (for those buying gold for the long run) :)
as long as gold remains shiny, im fine
Just got some gold and silver at LCS. Thanks as always.
Cheers!
Sliver was demonised along ago by gold... its done terrible learn history
Time is gold ✨️
I'm buying a Perth mint gold coin at SD Bullion this weekend for sure.
🤩
The wait is over, now we can have a nice dip!
🤜🤛
June 9th the Petro dollar ends. Gold and Silver will rise in Price after that. It's being spanked in paper markets to drop price before the change
Really Petro stops on that day??Man America has always had the most powerful fiat ever...the people won't know how to cope in the US
Let's talk about that one next week.
Yes! A sale! On my way to buy some gold right now!!
Good luck!
I started 4x10 work week this week. It was a glorious day in the mountains today to start a 3 day weekend. Ready to make my monthly purchase and have been watching the price drop. How long do you watch?
Until you are tired of waiting or the price starts inching back up.
Markets are pivoting away from a July interest rate cut. The Fed knows the economy is in big trouble and can't afford to cut rates now...
Nah, the Fed thinks the economy is looking good! Too good. No need to cut because of it.
@@2is1gold Agreed. If the Fed thought that the economy was in trouble they would be cutting rates to soften the landing.
But like everything else in economics, it's not so much what happens but the level of shock and surprise it generates! 😲
All the bullion banks visited China 🇨🇳, Dimon twice. They were stuck in Shorts and much have traded something for the price reduction. My guess either help in real estate or getting automobile access without tariffs.
This is good for stackers and bad for traders. I am a stacker and am in the metals for the long term so this is no bad thing for me.
Why? Great for traders as they were likely a large part of this. Give them opportunity to buy back and pump and dump again.
I am a Futures Day trader and that price action on GC was sure good to me !!!
@@robertbrown1304Long GC Sunday?
Prices move on news. The medium to long term trend is higher. Wait for gold and silver to hit support at 2200 and 28.50 respectively and you should load up. Manage your risk, which means keep some cash in reserve.
@@rickstalentedtongue910 keep playing the victim card. that will get you far in life.
bought some more gold today. Can't resist a sale
big drop in gold, silver and platinum is strange during these war time tensions but can be explained by options on futures positions. Calculating max pain I get for Gold August contract 2300 and for the July contract 2315. Silver giver 28.75 for the July contract and Platinum 975 for the July contract
Your desk looks so elegant. Can you give us a room tour/setup tour? 😂
Crushed is a bit of an overstatement. Come on now.
Did I need a fourth exclamation point to ensure the sarcasm? 😄
Makes no sense
I’m heading to my LCS this may have to be the dip I was waiting for!
Good luck!
I bought some gold today and if silver falls more next week I’m buying some
I don't care! If I go to my coin dealer tomorrow and he says he wants $40 for an eagle, I'll pull out my wad and say "How many do you have?"😂😂
The dollar is rising yeah I'm sure that one is true. I can't believe how much more stuff I can buy compared to last month, year, or 3 years ago!
So….drops are expected. Still up for the year, like the S&P in March, it too slipped and look where it is today. Yep, silly! Buy on the dip!
If we would take some time to learn about technical trading. There's a tool that is used on the charts call the RSI indicator which told the traders that the institution buying dried up April 16 of 2024. The next liquidity pool is in the neighborhood of 2100.
I've spent a lot of time learning technical analysis and have come to the conclusion that it's a fantastic way to predict what happened after it has. 😄
You're all very welcome. I bought about 12 hours before the drop.
I can control the markets! I have the fiat when price is up. But when it falls I'm always broke
Thank you for the sacrifice!
Five, 99999s Klondike coins series 2021,gold pan, 2022 ladle in a slush box…any body knows were to retrieve those two years?? Any help 2|1? Great info on ur channel by the way , learning a lot!.
Love the 5 9's!!
@@livinthedream7714 six 999,999 r even better!!
@@livinthedream7714 If 4 9s was basically a rounding error, beside good salesmanship, what is 5 9s? lol
Summer = buying opportunities. There’s more to it than that but it usually works out like this.
Sell in May, go away! 😄🤝
Watching gold & silver vids & enjoying a glass of limited edition 2023 rum from Hemingway's family Distillery. Sitting here watching the increasing swings in gold & silver prices lately. Waiting for the low swings to buy & hoping I can get a bunch before all this explodes. At some point all this geo political & ecenomic manipulation can no longer be suppressed. It will then explode. Those paying attention will survice and those who aren't will implode!
E.H. Taylor Small Batch here. 🥃
Dollar cost averaging. The tides come in, the tides go out. You can’t explain that. ;)
Soooo..... a whole bunch of government jobs were created on paper.
California's film industry, pretty much a giant factory, is not working right now. Thousands of of unemployed workers. I keep hearing that mythical word "layoffs" all across the nations. 🤔what could this all mean?
You are spot on… I own a small production company in the film industry. Over about the last two months we’ve had four productions scheduled to start in July/August postponed. Two were big budget films. I’m fortunate that I won’t need to lay off staff, however there are job losses coming across the industry I reckon.
PS… We are based in Australia, but work with US production companies.
I just want to say that the construction industry here in the Bay Area has completely halted. I work for a top electrical contractor and we’re just surviving off service work. There’s been layoffs here already. Other contractors are starving. Burning through cash. Things are not good I don’t care what the numbers say!
Further gold will drop more ha?
Hey 2is1, this can be the song "gold getting crushed the dollar surging China, Putin talking, Saudi Arabia gaming, whatever else is on the hype radar" 😂😂😂😂
Sorry to cut short.......gotta get to my LCS!
Good luck!
Time to go back to buying
Can't buy gold in Yuan suddenly.
Gold isn’t “on sale” until it’s back down to 2k an oz. Until then it’s just shuffling it’s normal up/down cycle in my opinion. Won’t stop adamant stackers from buying regardless.
Headed to the LCS
Rack em up and keep stackin them up folks....
I bought a 1/4 gold eagle today my first gold eagle
I love my Perth mint lunar series 😅
I like my tigers and dragons.
Dude you have the sickest coins
Buy buy buy sell sell never 3lb Tomahawk Steak going in the smoker! Thats what’s for the weekend!
Cheers!
@@2is1gold same to you a little Rabbit Hole salute!
Picked up 30 grams of platinum over the last week.
I would be buying but I spent all my money already... on gold lol.
😄
@@2is1gold no ㅋㅋ
Me too.
I always wonder if the US sells our gold to keep prices low, like they do our oil. Maybe BRICS and other countries getting off the dollar is a good thing. Someone is selling... SD Bullion has GOLD BUFFALO on sale this weekend !!
China is the world’s largest gold producer. Central banks in China, Russia and other countries buy and store gold without declaring it as reserves. 😅
I picked up a gold buffalo just as it went below $2300
Father’s Day sale!
I've been buying Gold since 2018. honestly, it's just a matter of being patient. Tangible assets with intrinsic value always grow in value comparable to fiat systems.