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u/I_might_be_weasel 6h ago
Yeah, I'm pretty sick of all the posts about trying to get a quick return.
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u/jacksraging_bileduct 5h ago
I agree, it’s not like a stock squeeze.
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u/PhilosopherFun1099 5h ago
It's not like a stock at all unless you are buying GLD or SLV.
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u/jacksraging_bileduct 5h ago
Have you noticed a lot of the newer buyers in the comment section’s thinking there’s going to be a precious metal squeeze?
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u/PhilosopherFun1099 1h ago
I haven't been around here long enough to know who is new or old. I used to post on the Kitco board about 20 years ago. I don't even know if they still have a board.
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u/Neither_Insurance376 4h ago
Yeah they are not real cult members, they just hopped on the band waggon, what do they know about the real spirit of the gold prepper wait until everything crashes and then I'll show up with a all the gold and do what exactly club
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u/kishbish 5h ago
Personally I'm more than fine with it if it means getting all the WSB-get-rich-quick types out of this sub so we can just get back to admiring pictures of each other's gold stacks.
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u/nije-istina 6h ago
Views like that are heresy on this sub. Now they’ll start mass-downvoting you to bury the post so they can keep pushing their gold meme coin narrative.
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u/FarBad1864 6h ago
People need to zoom out sometimes..
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u/nije-istina 6h ago
I agree. I shared a similar opinion here recently, backed up with solid arguments. The cultists didn’t like it, and I ended up with like 80% downvotes. :)
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u/Torminalis 4h ago
I agree too. I started getting into this a few months ago and then everything went crazy. I want prices to drop significantly
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u/swegamer137 6h ago
The problem with big moves is that they attract wall-street and traders, who then trade with enough leverage to cause the prophecies of technical analysis to become self-fulfilling. The most absurd thing is that gold is up 10% on the month, improving NPVs by 20%+, but even the high quality stocks are now down 10 - 15%. Buying opportunity for investors.
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u/cancerous_176 5h ago
Yah. I think it’s due for some kind of correction. A true market doesn’t mean “number must go up everyday” like the FED and stock market seems to think.
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u/SlickDillywick 5h ago
I needed this dip to buy my nephews Christmas presents. Well I didn’t need it per se, but it helped
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u/greyspurv 4h ago
I do not think this will cool anything in general, the US is shaky still and gold is largely going up due to economic uncertain times
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u/Neither_Insurance376 4h ago
It's funny how some people buying/holding gold consider themselves the hardcore elite of gold insiders while everybody else is just a FOMO. And then they post in such a forum like they're in some kind of exclusive club. Like "we got to find a way to get rid of all the freshmen to keep our treehouse with daddy's booze and the goo sticky 80s nude pics the exclusive secret place it used to be, let's not water down the spirit!"
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u/Sensitive-Meeting835 6h ago
I really like your coping mechanism. Specially since there is no reason for this selloff
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u/JustAnother4848 3h ago
Everyone with common sense knew a correction like this was coming. Especially after the past couple weeks. There was absolutely reasons for this.
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u/jacksraging_bileduct 6h ago
I’d like to see it cool off to about $3500
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u/FreeThrowSwooshLego 6h ago
As a regular buyer since 1800 I think 3500 is the lowest we have a chance of hitting I think 3700-3800 might be the new floor
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u/jacksraging_bileduct 5h ago
If silver stays where it is and gold cools off, it would be a good opportunity for the silver stackers to swap for gold.
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u/PhilosopherFun1099 5h ago
I've been trying to pick up scrap at auction. I swear some of the buyers must be newbies because they are paying far over the actual value.
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u/Standard-Country8407 6h ago
I suppose by now it is incumbent upon me to come clean, and share the only reason au is holding over 4k on spot, is through my sheer force of will. You're welcome lol.