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Today I want to talk about The Spot Price of Gold and Silver and Why It is not something to concern yourself about.
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Video Rating: / 5
You must be minted mate. I make 4£k a month after taxes and could not afford all those ? god knows what your currency salary is ?
WHY in the end spot price will be meaningless is the ultimare COLLAPSE of ALL FIAT currency.
I purchase silver and gold for when SHTF for fiat and cyber money. I have no intention of selling for a profit, I purchase with extra money I save up, so i can sit on it, and enjoy it for as long as i like. ?
I bought Britannias and Maples at a premium, which was fine but after hunting around, I found someone who sells me 80% silver Canadian coins at spot. He says he has enough to keep me busy for quite awhile.
This is more the exception than the rule, but I am getting more silver for my money.
Great video, I completely agree with this philosophy. By chance just buying at regular intervals you will catch dips and spikes, absolutely no reason to stress over the spot price. Great job
It’s called dollar cost averaging.
I apply this method to stocks, crypto and metals.
A proven method, since you never know when the bottoms and tops are going to be.
Its sad gold will never stay abowe $2k and silver will never se new ATH
I imagine I am this criminal banker colluding with my buddies. I decide to set the spot price down to $23 (I know I can't go TOO low) and we all buy. Then I continue to set the price a little higher until it gets up to 28, then we sell and short the market as I plan to "tamp" the spot price down. I laugh at all the people out there that think this price has any relevance at all to the true value of the metal. The very fact that I can keep the price suppressed and therefore keep most people uninterested in buying the metals allows me to keep doing this. I know I can't keep this up forever but I will keep doing it as long as I can. Dollar cost averaging is the way to go — buy a fixed dollar amount at regular intervals. You'll get more ounces when the price is low, less when it is high.
I thought you were going to say; the spot price is only a reference to the value against fiat currencies.
And since fiat currency days are numbered the only thing that will matter in future will be the goods and services you can trade your gold and silver for.
Your stack reflects that you are a collector and not a stacker.
Hi BB.. could you find out. When silver hit 50 dollars in 2011. What was the Premium on that? At what rate you were getting a 1 oz silver coin?
Buy low, sell high – Voices of millions of people.
Those 10 oz. rounds are positively magnificent! The detail and relief are just wonderful. Truly envious!
Lol it only matters when you buy and sell.
“Intentions of holding for a long time” ….approximately how long would it be? Thank you
One thing that prevents me from stacking more, is because every time I buy some gold or silver, my money stops working for me. They store value, as they go up with inflation, but they rarely seem to gain any value.
How do you feel about this?
Great video, I have a question for you please. I had started fractional stacking just under a year ago and the budget I have is very small, buying only one Gram or gold sometimes, is this going to be ok as investment? I really enjoy buying it and look to hold it for many years for my children, I have some 1/10 gold coins as well now plus 1oz silver coins and bars. Any advice for a new stacker with very small budget ?? thanks and keep up the great work with the videos.
I like .9999 so much better the .999 for silver and gold. But I’m not sure why it even matters but that just my own opinion.
Honestly when i was a new stacker i was quite obsessed with the spot price . As the years went on you learn to relax a bit because prices will go up and they will go down , thats a fact. Like you said thats when dollar cost average comes into play. Great Video my friend !
Amazes me how people expect to get PM at spot price . You are buying a teeny decorative coin and spot price is for a huge plain bars not really like for like .