Question to Gold and precious Metal Sellers

[vintagecraze50]

Curious as to how sales are going for sellers who deal in these types of products on here. Not scrap gold or bullion but actual jewelry and you plans for this year. Recent news says the economy is going to continue to drive up gold prices some saying up to 3 grand an ounce. I have heard these really high predictions before and usually it does not skyrocket to those proportions. Do you anticipate that buyers here will pay these increased prices for precious metal items or is the economy going to be so bad that people will pass on these purchases especially since dealers here are going to have to jack up the prices this year if this happens.

[sapphire_studio]

Don't build your business model around any assumptions that precious metal prices are going to go up. They're incredibly talented at suppressing these prices by shorting with the paper version of the metals. 

  I also do believe we're in the middle of an economic reset.... But that could be drawn out for years.  If part of their plan is to have run away inflation it is nice to hold metals or any other form of inventory/assets because the cost of everything goes up and cash is the real loser to hold. 

 I say that while I am saving cash right now and not putting anything more into metals ( After I got a decent stash of it a few years ago).  I don't know what I'm saving the cash for, maybe a house or maybe some cryptos right before the next halvening.

 Anyway I'm getting off tangent but it's important to diversify.  If gold skyrockets to $3000 this year that indicates runaway inflation and everything will be very expensive... something I am not rooting for even though I have metals I could sell for a lot if that did occur.  What I'm really rooting for is to pass my metals to my children and grandchildren.

 I used to have a silver stacking YouTube channel called Alice in Silverland but I stopped posting videos on it a while ago.

[southern*sweet*tea]

Other than the odd piece of silver every now and then I don't put money into metals.  I put money into tangible items that I can actually use at some point- stupid stuff like food and alternative energy/power/heating  sources.  Don't laugh at the alternative energy sources - we had a power outage last month that lasted almost seven hours, it was two degrees outside.  My house was a balmy 72 degrees, we had television and lights.  No internet though, because we have fiber through the power company and I didn't want to go outside to get a cell signal.

Gold and silver won't feed me or keep me warm when it's almost zero outside.

[sapphire_studio]

I get annoyed when people say you can't eat silver.

 I have 2 years worth of food in my house and a lot of alternative energy sources/prepping supplies. And then I have silver on top of that to help preserve some wealth to pass on to my family.  If things really do completely fall apart (which I hope they don't) then maybe the silver would actually serve a use for me in my lifetime.

 I really think the key is too diversify.

[vintagecraze50]

Yes, I am praying that this runaway inflation is going to subside this year. It is bad for everyone. The sellers and the buyers. I am getting close to retirement and I am seeing my savings go south this year. It’s impossible for the average person to keep up with these extra expenditures and keep their heads and their businesses above water. It freaking scary.

[vintagecraze50]

Yeah the silver might buy some more food. LOL! The next bad thing to happen would be another fee hike in FVF’S here. 

[sapphire_studio]

Unfortunately I think they're going to bleed us dry until we're begging for a solution and then they're going to come in with a central bank digital currency solution.  When those that print the money lend directly to us (instead of having banks as the go between) then they'll use more of a social credit score than judging our ability to pay back the money in order to determine who gets loans.

 They think they can do communism correctly if they have more data of all purchases that are made.  Basically the federal reserve wants to control all the money,  by having an economic reset where we get rid of the current system and start using a federal reserve crypto currency.

 But before they can come in with "the solution" of  a central bank digital currency they to design a "problem" so that we're asking for them to step in.

 Whoever controls the money controls us and so during this reset is one of the few opportunities the human slaves have to take back control (by refusing to take part in the new system they design). I think that's why independent cryptocurrencies terrify them.

[pburn]

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@vintagecraze50 wrote:

Yes, I am praying that this runaway inflation is going to subside this year. 

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United States Inflation Rate 

"The annual inflation rate in the US slowed for a sixth straight month to 6.5% in December of 2022, the lowest since October of 2021 . . . "

[12345jamesstamps]

I put a few things made of gold on sale a while back and they like sold in 5 minutes after I posted the stuff. I was very careful describing the stuff. Very time consuming. Maybe I didn't ask enough I don't know. I do check who buys it(they all had great feedback)...everyone was from the USA. I put a high international Shipping rate on the stuff cause I know it would be expensive to ship out. Everything was certified with a written signature...not a electronic signature. Quickest time I made money. Unless you sell a lot and expensive stuff every month your money might get on hold for 30+ days. 

[southern*sweet*tea]

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@sapphire_studio wrote:

I get annoyed when people say you can't eat silver.

 I have 2 years worth of food in my house and a lot of alternative energy sources/prepping supplies. And then I have silver on top of that to help preserve some wealth to pass on to my family.  If things really do completely fall apart (which I hope they don't) then maybe the silver would actually serve a use for me in my lifetime.

 I really think the key is too diversify.

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We make less than $28k a year, there's not a whole lot of wealth to preserve, other than our house, which thank goodness is paid for.

But yes, diversify if you can.  If not, take care of yourself and family the very best you can.