April 2023 New O/T Metals Update

[morganman]

This PM 4-13 Gold only $4.50 oz away from Spot All time high of $1960
On 8-23-2011 Gold was $1917.90 and hovered at $1800-$1900 for about 2 yrs
before plummeting some $145 oz on 4-15-2013. a whopping one day loss of 9%
which opened the door for more losses.

As a investor i hate the current Dealer premiums on bullion being charged the poor buyers
Premiums/markups on silver range from about $3.50 oz to $5, of which were about $1 oz
before pandemic. yet another excuse to screw the comsumer, like gasoline prices, food &
everything else under the sun.

Im very happy with my physical silver core holdings which have seen nice appreciation
the last couple months. Still only making around 20% which is dismal compared to the run up
of stocks the last 4 yrs. At least its positive, unlike stocks the last yr.

Due to the terrible high fees/margins dealers are charging for physical metals then screwing
the owners paying less than spot, i decided to invest in Silver using SLV ETF exchange traded
fund, that i got for $22 ea. This way no premium and open ended time frame.

Watching metals at these higher levels, either to protect nice profits or bail on signs of
downturn. Either way a good weeks trading. Natrually i would prefer to simply move stops
up along the way to protect more profits, but the mkts will decide the outcome

Mighty Pleased in Oregon!!!

[iceman]

Morganman
Is the SLV/ETF exchange traded fund a Non Physical Silver type of thing ?
If so dont you think that there is to much paper vs actual silver in these funds ?
If that is the case could you lose on that any way , if there was a run on silver ? Just asking since this is a important question that I have and of course want to learn !!
Just always thought that these funds had to much paper vs actual silver and was a variable with potential to lose all your invested $ . Please explain this to us NEWBYS on this subject , since I always questioned this !!! Many Thanks
Iceman ( John )

[morganman]

TO; ICEMAN- John- WOW in all these yrs posting on Metals mkts one member here
really seems to get my posts and responds vary intelligent.
Your question was ? Is SLV ETF a paper asset & could you lose all
your investment if a run on silver occured??
The simple answer is YES & YES

The facts- SLV is largest of Silver ETF;s started April 06, trades on
NYSE currently back by 3,25 million ounces physical ounces
Since a paper asset the Risk still remains that a huge run on
Silver mkts could cause huge losses and ill liquidity

To Protect you investment, professional and some knowledable
non prof traders resort to Stop Loss Limit Orders
Some also use Hedging positions as well, to protect the
original investment direction. Using stops and hedging on
large positions is prudent. Pre determining your risk and setting
the amount your willing to lose is paramount, and what trading
is all about. Headging is also a super tool if understood and
used properly to minimize risks.

Thanks for great questions on trading SLV which also relates
to GLD The gold ETF

keep in mind several various ETF'S are avail to trade with
both Long & Short direction available. Sure seems better than
paying huge dealer premiums just to buy bullion, then have
to suffer thru paper losses and time just to break even, due to
dealer profits of 15-20% which is super crazy.

[LateDateMorganGuy]

Speculating on any commodity is just that, speculating. Some make money, but most lose money. It is no different for any commodity, like pork bellies.

[morganman]

To: Latedatemorganguy: Your answer here about Commodity Speculator[s and
most losing money is dead zuke on target.

The simple facts are that most speculators are not equipped with the knowledge
or funds necessary to take their trading actions from Speculation to a Investment Level
Knowldge is really King and lack therof is throwing good hard earned money after bad,

Very sad that masses of individual players simply have no clue why mkts exist & how
they really work. Lazy people taking easy way in with terrible results. This relates to orher
paper asset classes like Stock, Bonds, Financials, Currencies & more.

Buyer Beware, just like coins or our beloved Morgan Vams, Knowledge & homework makes
for good pickin/buying while lack therof ends in disaster. A long response -simple answers,
good over many decades. Make it all a learning curve of fun and you will not be
dis appointed.

[UNCLE BINGO]

Last I looked gold topped 2 grand . Happy tax day !