The PM Thread / Gold hit 2,008 USD

[LoadedWraps]

It's an interesting point which I heard elsewhere as well - I have to assume the basic law of supply and demand will cause gold to steadily climb, due to constraints at the mining and refining levels, as I've heard.

[LoadedWraps]

yeah so dont laugh at me but I was gonna do an OZ for like 2g's or whatever and hope it hits like 5gs. the guy I was gonna buy from is stalling. we were all set to go he was gonna give me an out the door price and all and even pay for shipping. But then he's either stalling or ghosting me??? I think hes gonna wait until the prices go even higher and pretend he didnt get my messages until after and be like sorry bro the price went up to this now and F me over. Because why else is he all of a sudden going MIA right?

either that or he's really trying to cash out for a bigger end game and decided to wait. thats fine but he should at least respond and say so right?

Where did you meet this guy? Online I assume?

[TheGR8TESTOAT]

Where did you meet this guy? Online I assume?

yeah so long story short I got back into jewelry during the rona. like hobby wise and even potential investment/business wise.

so ive been networking and kinda hearing everyones opinion on best places to source and what not and Ive been following a lot of the celebrity jewelers too(like all the celebs who does their bling) and from all that research and hobby I found a few places they get their gold from and bling etc.

so I befriended this guy who has his own store he had a few celebs on his site he did their bling for. he basically was telling me that during the rona especially march he was down to just sell off most of his older inventory that didnt sell. so I pretty much sweet talked my way into him hooking me up with a OZ gold bar and he said he'd let me get it for the lower price now as low as March but pretty much before it hit 2K.

so for 2k his gonna give me the bar and I'll buy a chain as well from him as well.

and its been all great communication back and forth up until last week when the prices hit sky high 2K lol. now hes not responding at all? so im assuming hes like F that now he can sell everything for double what it was back in March????

[LoadedWraps]

yeah so long story short I got back into jewelry during the rona. like hobby wise and even potential investment/business wise.

so ive been networking and kinda hearing everyones opinion on best places to source and what not and Ive been following a lot of the celebrity jewelers too(like all the celebs who does their bling) and from all that research and hobby I found a few places they get their gold from and bling etc.

so I befriended this guy who has his own store he had a few celebs on his site he did their bling for. he basically was telling me that during the rona especially march he was down to just sell off most of his older inventory that didnt sell. so I pretty much sweet talked my way into him hooking me up with a OZ gold bar and he said he'd let me get it for the lower price now as low as March but pretty much before it hit 2K.

so for 2k his gonna give me the bar and I'll buy a chain as well from him as well.

and its been all great communication back and forth up until last week when the prices hit sky high 2K lol. now hes not responding at all? so im assuming hes like F that now he can sell everything for double what it was back in March????

LOL.


Dude...watch the Netflix movie with Adam sandler where he is a jeweler, it's great.

If it's a legit bar, he should have paperwork / certificate with it, because legit bars are like 99.5-99.9% purity and you can't just claim that, you got to back it up.

Jewelry, it's legit too but know that its obviously less pure. I have gold around my neck rn (not as fat as Wilder). I recommend 14k or 18k, not higher, because too malleable and can get damaged easier.

It's going to keep going up. People debate otherwise but Gold is a source of value in uncertain times, and a hedge against the dollar. The prices right now are proof in the pudding, Gold has never been higher. Ever, and both the USD, and the majority, if not all global markets are, or have been running amok most of the year.

[TheGR8TESTOAT]

LOL.


Dude...watch the Netflix movie with Adam sandler where he is a jeweler, it's great.

If it's a legit bar, he should have paperwork / certificate with it, because legit bars are like 99.5-99.9% purity and you can't just claim that, you got to back it up.

Jewelry, it's legit too but know that its obviously less pure. I have gold around my neck rn (not as fat as Wilder). I recommend 14k or 18k, not higher, because too malleable and can get damaged easier.

It's going to keep going up. People debate otherwise but Gold is a source of value in uncertain times, and a hedge against the dollar. The prices right now are proof in the pudding, Gold has never been higher. Ever, and both the USD, and the majority, if not all global markets are, or have been running amok most of the year.

yeah bro I started a jewelry thread a few weeks back and NO ONE joined in. Just one dude did but he wasn't really talking about jewelry just sticking up for one of the celeb jewelers. (TV Johnny)

I saw that Sandler flick it was really good. That chick in it Julia Fox DAMN! Yeah it inspired me to get back into jewelry actually.

So I got a sweet Miami Cuban chain cuz I go to Miami like 3 times a year for work. Got a really crazy deal too considering current prices and all. Its 14K Solid and CLEAN!

I was looking for a nice iced out Jesus Piece too to Hang on it but so far all the ones I like are like 4G's and more.

Was hoping to get it for more like $1500 or at least under 2gs for sure.

So yeah I dont wanna talk bad about anyone on here since I think thats bad karma and all and this dudes got my email and personal info since he was about to send me the bar out last week, but he has big celeb clients like Beyonce, and other rappers, so hes on the up and up for the most part.

I wasn't worried about the purity since it was a Pamp bar and all and had the official stamp on the back marking it 99% pure and OZ. Those are officially accepted by IRA and all that here in the USA.

I was more so worried that he'd try to be like oh hey gold prices went up so I can't give it to u for that price anymore, which he did end up doing by the way.

HE went from answering my messages within a few Hours to ghosting me for like 10 days. I think he was monitoring the price of gold during the 10 days and said to himself F that Im not giving this guy a March/April/May price, he's paying for a August 2020 price.

Then he tried to raise the price on the chain too.

I could be like yo I can show you the emails we sent back and forth and how you said the store will be closed due to covid until end of July but hes prob like F that time to charge double now to everyone.

So yeah no OZ bar for me anymore, well at least from him.


Whats your gold chain about? How many K? how long? width? weight?

You could get a Miami Cuban solid 8mm width 24 inches for $4,000 back in May, NOW that same chains prob going for $6,000!

[Anthony342]

What's the minimum amount you should buy to get a decent return on investment? It goes by the ounce right? So like 1 or 2 ounces? Or are we talking at least 10 or more? And can you invest yourself online or do you need some kind of commodities broker to invest in gold?

[LoadedWraps]

What's the minimum amount you should buy to get a decent return on investment? It goes by the ounce right? So like 1 or 2 ounces? Or are we talking at least 10 or more? And can you invest yourself online or do you need some kind of commodities broker to invest in gold?

Physically it depends, you can get coins cheaper than bars.

You can also invest in stuff like PAXG, and there are gold futures iirc.

Kind of busy this morning I'll see if I can post some resources later.

[jreckoning]

What's the minimum amount you should buy to get a decent return on investment? It goes by the ounce right? So like 1 or 2 ounces? Or are we talking at least 10 or more? And can you invest yourself online or do you need some kind of commodities broker to invest in gold?

Here's a link for you.

http://findbullionprices.com/

It shows the various prices for coins and bars from a variety of dealers.
Ideally, you want the retail price to be as close to the market price as possible and this site gives the reputable online dealers prices for everything.

Generally, more weight, the cheaper but sometimes you can get things at spot (market) price when they have specials but now since it's rocketed upwards, it's not as easy to do.

Mark ups are high on physical gold and silver right now. There are issues with logistics and the supply chain.

Hope this helps!

EDIT: Although gold and silver will always have value,only buy what you can risk losing and don't overbuy. I am at about 6% of the value of my total portfolio in precious metals.

[LoadedWraps]

Here's a link for you.

http://findbullionprices.com/

It shows the various prices for coins and bars from a variety of dealers.
Ideally, you want the retail price to be as close to the market price as possible and this site gives the reputable online dealers prices for everything.

Generally, more weight, the cheaper but sometimes you can get things at spot (market) price when they have specials but now since it's rocketed upwards, it's not as easy to do.

Mark ups are high on physical gold and silver right now. There are issues with logistics and the supply chain.

Hope this helps!

EDIT: Although gold and silver will always have value,only buy what you can risk losing and don't overbuy. I am at about 6% of the value of my total portfolio in precious metals.

Good post, thanks for sharing a link.

I like:

https://comparesilverprices.com/mobile/

[TheGR8TESTOAT]

What's the minimum amount you should buy to get a decent return on investment? It goes by the ounce right? So like 1 or 2 ounces? Or are we talking at least 10 or more? And can you invest yourself online or do you need some kind of commodities broker to invest in gold?

10OZ is like over $20,000 right now bro!

Back in March if we jumped on that it 10OZ was like $14,000!

I can't throw around anything like that so Im do like 3G's at most for now.

Some experts said it might go up to $4,000 an oz and some expert even said 10G's!

Damn man if you got an oz and it goes up to 10G's!

You'd be sitting on 100K!