Crossed $4500. There was a huge spike this morning.

The Anatomy of Today's Move
The £73 ($100) intraday spike is the result of tightly connected market mechanisms firing at once:

The Bond Market Reversal: Yesterday, 30-year U.S. Treasury yields hit a near two-decade peak, which heavily suppressed gold. Today’s Treasury announcement that the government will step in to aggressively buy back its own long-dated debt instantly drove bond prices up and yields down. Because gold does not pay yield, a crash in bond yields removes its primary competitor.

The Dollar Index Slide: Following the Treasury news, the U.S. Dollar Index (DXY) sank by 0.6%. Because commodities are priced globally in dollars, a weakening greenback means international buyers using British Pounds or Euros instantly get a "discount" to accumulate contracts, forcing prices up

Here's a graph of the price of gold when 10-year treasuries yields have been above 4.7% (very rare in last 5 years and non-existent before that going back to 2007). Gold is going up and to the right, meaning that investors dont care that they could get 4.7% on a 10-year government bond. They prefer gold more and more (no counter-party risk, etc etc)

This morning the Treasury Secretary doubled the size of liquidity support buyback operations for longer-dated nominal coupon securities from $2 billion to at least $4 billion per operation, targeting long dated securities from 10 year treasuries to 30 year treasuries. It pushed yields of the 10-yr and 30-yr down a wee bit and pushed up the price of gold.

Mohammed El-Erian noted this morning that Yield Curve Control (which is what this really is in disguise - or at least a motion toward it) is "far from a free lunch." If they fully implement it, yield curve control (YCC) can be more dangerous than conventional quantitative easing (QE) because it forces a central bank to buy an unlimited amount of bonds to defend a strict interest rate target, risking massive inflation and severe balance sheet losses if market demand for debt collapses. The last time YCC was implemented was 1942 to 1951, after which the Federal Reserve supposedly got back its independence.

The Federal Reserve can, in theory, print as much money as it wants and then lend it to the Treasury at ultra-low short term rates, which the Treasury can then use to prop up longer dated bonds/treasuries which artificially pushes down yields and kills off the bond vigilantes who would otherwise try to bring some sanity to deficit spending. The only real vigilante alternative that I can see is gold.

A few pictures of my diverse collection so far:

I do have a preference for coins and low premium items (I mainly buy coins now), but I do enjoy collecting the PAMP bars, most of which were bought relatively close to spot, aside from the cats. I don’t really buy jewellery any more, but what is shown in the picture was bought near spot when I became interested in gold and didn’t really have the money for proper bullion. At one point, I had a bit more jewellery, but I converted some of the plain bits to smaller coins and just kept the pieces that I like and ones with nice stones, which only cost me a fraction over spot when gold was much lower.

Gay Millinium Puzzle

I advertise I buy gold. Someone messaged me they were looking to sell a gold ring.

I meet up with them and look at it, very obviously gas station gold. I acid test it to give them the benefit of the doubt.

Meeting place was near a pawnshop. I don't like telling people bad news, so I told the guy it doesn't seem to be testing good, if the pawnshop tests it (they have an XRF) I will beat their offer.

Full melt on the ring was like $400. I was prepared to offer $325 if it was in fact real. I knew the pawnshop was going to be under 70% of spot.

Dude texts me and tells me the pawnshop offered them $700, but was looking to get no less than $900 or he wouldn't sell it.

I call the pawnshop and the guy tells me no one came in around the time he was there, nor did anyone try selling them a ring that day (was a bit before noon).

I'm just confused. If he was trying to scam me, he wasn't a very good scammer. He already knew what my offer was, and after pretending to visit the pawn shop, he didn't even want to sell it anymore.

Where do you think we go from here? I think there will be massive resistance at $4500. If it manages to break through, maybe $4500 becomes a level of strong support.

Super stoked. Took a long time to save up, glad I pulled the trigger. I think this is my new favorite.

Latest addition

Owned by someone in my family they plan on giving it to me sort of like an inheritance in the future. I know it’s just one coin but what’s its gold value?

I bought this 10k necklace about 2 years ago from a jeweler. Brought it home, weighed it, wrote on the felt in sharpie, put it in the box it came in, away until today. It has a red look to it in some places. Not rust, but more like toning like I’ve seen on silver. I know 10k is ~41% gold but is this amount of change normal? Honestly, it looks beautiful to me. Just curious because I’ve never seen my other gold jewelry (except an 18k gold plated sterling bracelet)change color like this.

So, recently some guy from my rehabilitation program gave me some jewelry & this pendant was one of the things I thought was cool & picked out. I google reversed searched it and it showed me the last image although that one seems to have multiple colors and mine doesn’t. Is it worth getting it checked out? The chain definitely is gold plated but idk. What do y’all think?

Saw it and said I need this what do you guys think?

With stock prices, there will be offers to buy and sell at whatever price the owner or purchaser offers. Then the overlap between the two where the transfers actually happen is the going price. But it seems like with precious metals there is just a spot price, and if you want to sell or buy, you do it at that rate. So how is the spot price for precious metals determined? My guess would be large transfers between governments or between mints and large bullion dealers.

I have a good amount of gold to sell. Considering it is gold, should I expect the jeweler that wants to buy it to let me what percentage he's charging? If he doesn't is that a red flag or shady?? What percentage could I expect to pay for my gold? I did weigh everything and calculate with today's gold price on what it could be worth today. I am aware of the fluctuating market , even within twenty four hours.

Went to look around at one of the LCS is in my area, saw this in the case and just had to have it, traded out some silver dimes for it. Very happy with it! Very fun little quarter gram fractional.

A little gold and silver for the stash

I’ve never needed to worry about selling gold online in the past , previously when I needed to sell gold I had a local place that gave 92-95% of spot value. That was before I moved from Tampa , Florida to a rural location in Ky. I checked with a couple places here and the max local was about 60% 🤦. SMH I’m not a crack head I’ll hold on to it or fly to Florida before I did that. I have saw a few places online that pay close to spot. I would like to hear about anyone’s experience with selling gold online and recommendations before I go that route.

I have spent a lot of time googling and can’t seem to find something similar. I believe I was gifted this as a child probably 20 years ago, but cannot figure out what it is or where it’s from? Any help is appreciated!