Gold Spot

[mikbone]

Price of gold has gone up $100 or almost 5% over the past week. 

Wonder what is causing this to happen?

[zil2]

Goldspot, you say?  Yes, I've shopped there - great people to buy from, very good customer support.  Highly recommend them.  

[Vort]

53 minutes ago, mikbone said:

Price of gold has gone up $100 or almost 5% over the past week. 

Wonder what is causing this to happen?

They quit making any more of it.

[JohnsonJones]

On 3/5/2024 at 2:56 PM, mikbone said:

Price of gold has gone up $100 or almost 5% over the past week. 

Wonder what is causing this to happen?

Catching up to the inflation over the past 4 years.  Gold hasn't kept pace with the other areas of inflation (from what I've heard) and at $2150 still hasn't kept up with the rate of inflation throughout the world (despite many conservatives grumbling, Biden actually has managed to keep US inflation as one of the lowest in the world over the past 3 years, the rest of the world has gone bonkers in regards to inflation in some places, reaching over 15 to 20%/year in some areas).

[NeuroTypical]

I started paying attention to gold and silver prices in 2010, to see if I could find a way to spot trends and make billions.   I'm not a billionaire yet (I'm barely a thousandaire), but here's my chart I made and look at.  It tracks the price of 1 oz of gold in coin form, and the price of 100 silver eagles:

 

Fun fact: The Gold Standard got adopted basically because of an accident caused by Issac Newton:

Gold standard - Wikipedia

Quote

Great Britain accidentally adopted a de facto gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became the world's leading financial and commercial power in the 19th century, other states increasingly adopted Britain's monetary system.

 

[Still_Small_Voice]

Silver markets are being manipulated presently.

Silver should be up to at least $34 per ounce, in my opinion. But, as of today, silver is close to $25.39 per ounce. All these fraud traders are selling their fake, paper silver certificates that are backed by nothing but lies of what silver they have in their vaults or safes.

In 2021 J.P. Morgan paid $920,000,000 to settle an investigation into their manipulating the silver markets. They also paid an additional $15,700,000 lawsuit brought by other investors who said the manipulation had caused them significant financial losses. They are very likely still doing it today to the silver markets along with others.

[Traveler]

On 3/5/2024 at 3:50 PM, Vort said:

They quit making any more of it.

It is still being made – just not here on earth.

 

The Traveler