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Gold $1771
Having retraced almost 61.8% of the September drop, Gold's recent run up - as the USD strengthens no less (from 10/28) - suggests some demand for safety is back (or more simply is the demand for German Gold making the German's hoard a little more?). Silver is actually outperforming from Friday's close but remains below Friday's highs for now.
UPDATE: USD vs Gold tonight!!
Chart: Bloomberg
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Rumors of more printers being turned on?
if so,
gold going up
spooz going down
http://www.scribd.com/AndysTechnicals
Gold seems to now go up no matter what the scenario.
Gold has become risk on and goes up with stocks and commodities.
Gold has also become risk off, as it goes up with Treasuries as a 'safe haven' currency.
Though relying on Treasuries as a safe haven is like relying on an ejection seat in a helicopter. "YOUR BOUND TO GET A HAIRCUT HA HA HA..."
Gold......suddenly the biggest no-brainer in history.
In other news.......Italy won't accept a bailout.......come again?
Vices, addictions, and safe haven predilictions........
An ounce of .999 Fine Gold is still way more expensive that an ounce of .999 Fine Pot. Not that Fine Pot is cheap by any means when you consider an oz can buy a decent flat screen which lasts for years vs an oz of Pot which, cough, doesn't.
Then comes Pot which is edible so it's quite utilitarian outside of its main role which is to alter states of mind. And it's still highly illegal in most places to own, smoke, eat, shit, or cultivate. You would think that would make Fine Pot worth at least an oz of Fine Gold. Just in compensation for the danger alone of getting caught in certain places and sent up the river for 5 to 10.
Then comes Gold which you can't eat, you can't smoke, and you can't get high on. So that spiel about if you can't eat, smoke, drink, or screw it, then forget it, is FOS.
Conclusion: Gold acts like one helluva drug to a lot of people or a lot of people must be hallucinating on Pot thinking it's worth something.
If you cant eat, smoke, drink, screw it or snort it.
Corrected that for ya.
Yeah the pot gold ratio needs to be watched.
I agree gold appears overbought compared to pot and I think it has topped for the year, but I dont see much of a downside either.
Thanks. Forgot about snorting. These days probably should include mainlining too.
Probably drive it and surf the internet with it too.
We have then covered all our basic instincts. Drive it, fuck it, snort it, eat it, drink it, or surf it, or smoke it.
I think we now discovered what motivates people to go to work. We get green pieces of paper we can use to satisfy our basic instincts.
In fact I can't remember when the last time that gold was worth more than pot.
You guys must be really stoned.
Ummm.... me thinks you are talking about lbs....
I'm not as think as you stoned I am...
Skunk weed is currently trading at £10 per Gram=£311 per troy oz. Gold is a cheap as you like and silver...well need I say more!
Transformer, you're the one that's stoned. $3200 for an ounce of pot?? Even for a troy ounce, that's just an outrageous price quote.
If one were to inject gold particles, would they conveniently accumulate in one part of the body where they could be later surgically retrieved? I'm thinking it could be an excellent way to safely vault gold, gram by gram, once gold hits $100,000 an ounce or so.
Well, I opt that it accumulates in the penis. That way the term, 'she's a real gold digger', gives even non-goldbugs pause for thoughtful consideration of the useless traditional relic.
Can eat it, too. :)
- "Git some (gold), Git some (silver). Haha."
- "How do you get gold and silver?"
- "Easy! You just don't lead 'em so much. Ain't war (savers vs. speculators) hell?"
The difference is that you can grow pot.
Can't grow (or print) gold.
Yeah, but if you get caught.....in some places you also get shot - right after trial.
Well, you can mine it though.
Actually printing metals in specific shapes on demand is a new emerging technology. The only thing is, you need gold particles to print gold objects. That's it! I've got it. A new currency with 100% fine gold printed on/in the paper currency to equal the denomination indicated on the Treasury note. Am I fucking smart or what??!! Official $1,000 note will have a tenth oz. bonded throughout the rag paper. Official US Treasury currency pegged at one oz. = $10,000. Eliminate the Fed and print our own gold currency. Anything over $1,000 would be coinage. Denominations of $1 to $20 would be silver certificates made with silver in it. That would foil the current legal and illegal counterfeiters. (Foil, OMG I just made a pun.) That would also make it harder for smugglers to get money in or out of the country as metal detectors would find it.
I'm so impressed with myself especially since it is a little after midnight. That should qualify me to be Sec. of the Treasury in the Ron Paul administration. You guys spread it around and see that I get the job.
Thanks,
LincolnSteffens
I think you have a real bright future somewhere. It might be in Mad Max' Thunderdome but hey I see big things comin' for ya.
Obvioulsy you haven't tried Goldschlager? Got a bottle haven't opened yet. But will once the end of the world kicks in, I will mix it with a quality tequila.
You can high off gold, very high.
Is there a Pot ETF yet? I guess it couldn't be backed by the physical;-)
SmM- Smoke &Mirrors
For more information on the ETF visit the website POT.US
Is there a Pot ETF yet?
Fucking Tenet has the symbol already. Shit.
Pass the dutchie on the left-hand side.
I don't know guys... gold price hit a major 6.18 retracement and there is some divergence. Others see it? Be careful out there
sounds like a buy the rumor buy the news situation.
BULLISH!!!!
At some point people are going to freak to the degree that they just buy gold because they don't know what else to do.
Been there, done that, got a Zero Hedge t-shirt.
There might not be enough printers in the world to tame deflation.
All these banks are sitting on giant bags of shit.
But what do I know?
http://fucklloydblankfein.blogspot.com
Money is digital. The sum total of personal smart phones used by the Federal Reserve board of governers probably have enough collective computing power to create hyperinflation. Deflationists are deluded. Creating the money is not the limiting factor. The kink in the hose will be getting someone to "borrow" and spend the created money. Enter team Pelosi, Frank, and the Messiah (or whoever is in power when the supply chain starts going south).
"Dammit Jim, I'm a Princeton professor, not a Ron Paul!"
Whats not to like? You take fiat and buy Junk US silver ( not the crap gleeenie beck pushes). Become friends down at the coin shop. Great folks.
If I were on Facebook I would "like" this.
Thumbs up.
The only thing this guarantees is a deflationary beatdown on Au, Ag, and oil IMO
Yep. Gold will drop by 20%, whilst everything else drops by 80%.
So cash is the best thing to hold??? You do realize that you are saying just that.
Yeah I know, it was a bit tongue in cheek, as in, gold may fall, but only if everything else falls further.
That said, I still have 25% in cash. Nobody can say with any certainty which way the markets will go, because fundamentals are irrelevant. If they print, hold gold. If they don't, hold cash. If you are not a fool, hedge.
The trick will be when to commit that 25%...... Yes, having some cash is prudent hedging at this time.
I'm a fool.
Zerohedge.
Ain't seen nothin yet.
I think we are set up for a run back to $1900, and then another move higher. I think the consolidation stage is over.
$1900/pause/$2200/Consolidate back to $2000, by Dec 21st.
Once Europe folds, all bets are off.
Once Europe folds, the game is over.
You never know though. What happens if some of those nations liquidate their soverign holdings?
Their gold?
Because I bet Europe has their gold leveraged up.
I don't think any of them will be satisfied not posessing the physical. When the sovereigns start asking for their gold back, like Chavez, which they'd be wise to do (just this year Greece's gold was sought as collateral and they rejected the notion - and then their bank bought more gold instead), the system will unravel from the pressure.
Maybe the Black Swan will be that people everywhere will start asking these banksters where the gold is and who has what...if it is the people's after all not the central bank's.
I doubt it - Euro central banks had only sold 1.1 tons between them up to the end of Sept this year, and they are limited to collectively sell 400 tons/year.
Also, some may have learned from Gordon Browne's 'acumen' in announcing any impending sale beforehand to ensure the lowest possible market prices. So in the unlikely event they do liquidate, they'd be stupid to announce it beforehand (thus ensuring lower prices) - the flipside being if it is announced afterwards, the sale then instantly becomes a buy e.g. another sovereign or entity just bought x amount of tons of gold, which is bullish.
Central Banks don't sell gold anymore, they lease it.
I don't *understand* this at all! To me, it seems completely insane.
I think you will see a deal in greece this week - not like it really matters. The EU/ECB/IMF/whatever is holding back the $8 billion in a "bailout" payment until the Greeks decide.
Pensions and govt payrools will not get paid this week. This shit is just like the USA Obama bailouts. TARP was for union cops, teachers, union city and state govt workers and union thugs at GM and Chrysler plus the govt union work scum and fannie and freddie.
Greece will take the deal because if they go back to the drachma and leave the EU/Euro then nobody will pay the govt workers doing non-work.
This price increase is and will be driven by lower margins. If I am not mistaken, the MF Global customers were able to transfer their positions to other firms but are still having trouble accessing their cash. I see the margin change as an attempt to accomodate those customers so that they do not have to close out positions that would have been covered by the missing cash in order to prevent a waterfall sellof.
I agree that gold will go higher but I'd prepare myself for margin hikes when/if the cash is "located" and returned to its rightful owners. I think this will be sorted out within the next two weeks even if the money has to be "found" at a TBTF bank. Once everyone is made whole the margin hikes will commence and there will be a selloff in PMs. I disagree that it will go straight up through December.
Gold, bitchez.
$1900 gold by Dec 2
$1900 gold by Friday.
Tyler:
Your innovative association of this and that exogenous event for any and every particular inflexion of gold price is astounding.....and yet wrong.
Gold and Silver prices are nothing more than another pair of equities. ES goes up. Gold and Silver go up. Vic a versa.
Tell me, if Gold was a true haven, why has it not exceeded $2k when DOW has fallen 20% from May to Oct?
Safe Have my ass,
What happened to your theory in August? Kind of put a bullet in it, didin't it?
"Safe Haven" is another term dreampt up by the same media who can't understand how a lump of inedible metal with limited industrial uses could have value.
Safe havens exist nowhere and never have.
Gold holders will indeed be some of the biggest nominal winners in whats to come. Too bad the rules will change making it impossible to experience those gains legally.
A, U... Gimmee all your gold.
Ron P-Au-l 2012 ;)
Did you all like my little joke? Personally, I thought it was gold.
AHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAA
I crack myself up.
Does anyone know where I can get some 1 oz. gold-colored tungsten rounds? Seems to me that the goons that come to confiscate your gold won't know the difference. As long as the color seems right and the weight seems right...
It would be similar to all those gold-plated coins I see offered for sale to entice the uninformed.
Put your faith in paper assets if you like, but a paper dollar is nothing more than an empty promise to pay. Paper currencies always lose their value at the whim of politicians. I am all in physical PMs.
Myself, I prefer to be "heavily in" so as to avoid dealing with my committment issues. I have tried to structure my ownership in such a way that when the big rule changes come, I protect pieces of it from confiscation, taxation, looters etc. It seems to me there will be no way to avoid committing felonies on a daily basis if I really expect to just "walk away with the money" after a big gold revaluation event. The elites just don't allow people who play by any set of rules to get ahead. If you want to be like them you have to see yourself as somehow "above" everyone else.
I think it will be "windfall profit taxes on people who just so totally don't deserve to profit because they got lucky when everyone else was suffering"
Personally, I think I'll get more satisfaction out of "being right" than actually being rewarded for it financially. This will be most fortunate.
The information flow today is entirely different than it was in 1933. We don't need to wait for the newspaper to read news that is already 24-48 hours old.
When credible people, in positions to know, start making noise... you should have plenty of time to trade your gold for silver.. or land.. or whatever else you choose.
Who the hell junked you? This place lately has plenty of union Democreep Huff Po mole scum who love the Kenyan Muslim.
I didn't junk him, just you.
Seems you're not too knowledgeable about the eastern (Asian) societies.
Learn the cultures over there and you'll realize that gold has never dwindled in importance as a store of value for thousands of years.
It's ingrained from generation to generation, starting at birth.
Good luck with your 'Gold is another equity' schpeel. You'll get laughed out of every asian country.
Sheesh.
Agreed.
The Asian market's demand, and particularly China's market entry only recently for its people, the countries with the largest populations, that have emerging economies and are creditors, is only going to grow.
Just more schizophrenia. The "final" run up won't be reflected in the price of paper gold, certainly not in the West.
Well thats what cutting margin requirements across the board by CME does right?
Most likely.
Some of your fan club have taken the day off I see.
This is not an inflation hedge trade, this is a pure FEAR trade like in Sept 2011 when it hit 1900. Something very brutal is up, I am thinking Italy + China = meltdown overkill off. HFT's have been gaming the market all Asian session.
Bad vibes.
Gold does well in "deflation". Example, August.
Gold is a safe haven now.
The fiats are in their death throes so no surprise here. The surprise comes later when PMs are outlawed, confiscated, melted down and replaced by ration stamps. Don't like it? Tell the gestapo.
http://www.youtube.com/watch?v=R6Mj1Us13Yk
But, in reality (& assuming you're referring to the uSA), any confiscation scheme would yield extremely limited compliance (<1%), just like last time.
Just more bond buy backs. U.S. Treasury buy backs. Not monetary expansion.
You can't put gold in your car, therefore, it is worthless
But oil producers will trade oil for gold. De facto, you can put it in your car.
Warren Buffet called gold a "barbaric relic" and since he's worth billions surely he knows what he's talking about. Thus, you all should sell my your gold for .10 on the dollar :)
You have an impressive resiliance in your fighting.
Either he is abeing sarcastic or he is a scum sucking lawyer who voted for the muslim.
Fuck Obama, Ron Paul or BUST!!!
RP will bust the economy if he got his way, fortunately there are enough sane people to stop that from happening.
The economy was busted long ago.
Please forgive reefermadness, Ron Paul.
He knows not what he does.
Lead him to truth and rightousness.
Amen.
Bust the economy? LOL! You are kidding right? Obama's unemployment rate is about 16%. Ron Paul would be light years better. Is Huffington Post sending all their libtard idiots over here like the homeless heading to Zucotti Park?
Freddie, this is your second failed attempt to turn a gold thread into a political debate. Better luck next time.
*Spoiler alert: Both sides are equally corrupt.
Who is running the printing presses and looting the treasury to "bail out" union govt workers because the big union states are broke?
It is totally related. The Repubs suck but the Dems and Obama are evil. Bush is an open borders elite Dem lite but if he did half the shit the islamic did he would have been impeached in his first year.
My guess is you voted the muslim ticket in 2008.
The unelected officials of the Federal Reserve Bank have been running the printing presses for almost a hundred years. Has something changed in the past five minutes that I missed?
Of course Warren Buffet said that; he wants you to buy stock in his companies.
Buffet is a crony capitalist douche. But for the multi trillion bailout his banks would have crumbled
Couldn't agree more. Whenever I see somebody reading one of his books I like to lean over and say, "You do realize that no matter how many times you read that your father will never be a US Senator."
Sorry, that workaround got nixed too, when Gaddafi got the hook. For now, it's still all F -iat, or your tires go F- lat...real quick.
However, in the forthcoming general anarchy, early adopters of wood, coal, or alcohol powered systems will be one step ahead for drive by hits on still existing retail outlets.
Fascist police enforcers will be reduced to tasering from bicycles.
Shares of PCLN, NFLX, GRPN, Pets.com, World Com, Circuit City, Borders, and many others would provide good kindling to run a Stanley Steamer, or my avatar of a steam locomotive.
And gold does fit nicely in the trunk or glove box.
Come to think of it, Wiemar Republic Reich-marks, Zimbabwe notes, Netherlands Guilders after they were called, Continental dollars, and many other paper units of exchange (except for the collector value now), would also work just as good for kindling.
You're pretty dumb if you can't put gold in your car.
Most cars do have platinum or palladium in them though. The punjabis at the local gas station will trade you some gasoline for gold or silver right now!
My stash fits nicely under the seat.
Goldschlager bitchez!
Haven't checked prices in a while. Has Goldschlager gone up in prices?
Or are they 'debasing' it?
debased, from wiki:
Goldschläger was reformulated to contain less gold due to some alleged accounts of individuals suffering allergic reactions...
WTF? Is Gartman on CNBS right now?
GLL calls. Get to it pronto, kids.
Gold looks good, watch out for a silver trap to take out the next round of bulls... you know, the "silver to $1000" type.
The Debt Deflation Death Downward spiral is what my brother calls it.
Unless the CBs start printing...I mean PRINTING, we will head into one Hell of a depression I'm afraid. Luckily, gas prices are tame..but if they start rising.....all bets are off.
If we're in a deflation spiral of death, why are gas prices inflating?
the below article:
http://www.zerohedge.com/contributed/hit-big-withdrawals-fed-sells-assets-borrows-cash
coupled with this seems connected. fed seems like they are doing money printing but say they are not. sounds very washington like to me.
somethings smells very bad, and my guess is it is about to get very bad. belly up to the phyzz bar folks and get Au and Ag while you can.
A few glitters here, a little glitter there. Moving up in a well defined pattern and chart. Not too fast, no parabola. Just in line with the idiocy of these goverments and what they are doing.
Gold will divorce itself from the markets and the dollar at some point. I think we here in America are just a small part of this equation. Many sheeples think this is going to be OK and we are recovering. Very few pull down the blinders to see what is really out there. But in Europe, they are getting it. They know where the Euro is going long term and each country must protect itself.
Are you going to do it with Turbo Timmaayys worthless dollars, or do you want something that has No Master. Long way to go. Pumps and dumps, you bet, but this is so far from over I do not even have a clue how it ends. I just know.....It Will End.
PS
If gold holds into our markets what is really nice, most of the Trolls and naysayers will move on to those "intelligent sites". :)
I aint going nowhere.
And I still think we saw the top in gold for the year.
I'm calling it.
at some stage those MF Global accounts are going to trade...
http://www.rjobrien.com/mfglobal/
Ouch
Gold over 2K by EOM.
Based on my charts ! XAG retraces . I don't need " hate letters". 1350 off that 16 something number makes sense.
I always tell the truth.
Eurozone Collapse, ILLEGAL Fed printing, negative fundamentals.........ya think? Gold up? Really?
Pop before the drop
Debtflation
Yen knows a " Sheep F...ER when he see's one :(
Gold and silver are currently a risk trade and are following the S&P and DOW. The de-coupling event has not yet happened. When this event happens, gold and silver will become a risk-off trade and a safe haven.
What is happening in Europe is an omen for a de-coupling event. What will cause it is soverign debt defaults (and bond losses). The global bond market is around $50 trillion. That is a huge market, and if only 5 percent of that money tries to move into gold, it will be a huge de-coupling event.
I'm waiting for it, and I think it will happen. When? My guess is sometime in the next 24 months. In the meantime, look for gold to selloff with the S&P.
www.goldsilverdata.com
AU and AG were surging in August when the S&P was selling off. It was only when the terrorists at the CME stepped up that they both tanked. I think the correlations are somewhat irrelevant as long as the markets are un-free. But I do think that your prognosis for the future will be correct when the sheeple realize that won't be many options left.
The timing nature would be a factor for a broker/trader who had to answer performance numbers on a monthly basis. For anyone with an "income" (i use the term loosely cause we have no idea what the fiats will be worth in time) and next to little hard assets, that person should not be trying to time the market.
Anyone who has any concept of history and believes in even the slightest concept of fundamentals and/or cause-and-effect should have already had a single digit percent of total savings in Gold before 2008. Ramp that up to low double digits through 2008-9. Approaching high teens when QEs where shown to not work, and early twenties as sovereigns start to throw sh1t at each other.
As we see governments starting to lurch around with reckless policy decisions over the weekend that have the ability to destroy peoples' livelihoods and futures, that total savings number could arguably be north of 33%.
As for myself, I have no house, kids, car, nada~, so I'm north of 50% now.
You prolly do want to hold back some cash to give your accumulation a little boost if there is a wild dip gyration.
I guess my touchstones are:
cash can go to zero, gold cannot. The chances of a total fiat/society breakdown is NOT zero. Throughout history the only things that survived reset events were: gold, weapons, land-holdings (hard to hold during the calamity without weapons and followers), and prostitutes. As for myself, I'm not too keen on being a prostitute... I'm picky about who I sleep with.
So, the only real question is... to what degree are you gold hedged? You are not a student of history/logic if you say zero, and again, you are not being logical if you say 100% also, that's not allowing for the [slim] chance of some unforeseen positive "black swan".
Good luck all, it seems like the flashes on the horizon can be heard much clearer as thunder than the distant rumblings of a few years ago.
edit: darn spelingz!
Gld is trading in a nice range, sitting ontop of the 5day EMA. it's a good trend. There is a 1800 top there
looks like Euro Zone is-about-to-implode trade is on:
-- The euro pares earlier gains as worries over Greece and Italy come to the fore
-- Focus is on whether Italian bond yield will keep rising
-- Traders are skeptical Japan's intervention after October 31
tight.
/yawn
still no correlation between supply and demand.
wake me up when that happens. zzZZzzzZzZZZzzz
Nixon decided to abandon the gold standard and replace it with oil standard.
Gold has topped for the year or I aint no top calling troll.
Gold $10,000 .. Money needs to be a valued commodity not fiat paper.
I always worried about the 'windfall' tax they could slap on PMs, but I worry less in regards to silver.
Were they to do this, the people would have less incentive to bring in their scrap, hurting the stocks they rely on for a percentage (10-15% ?) of industrial and investment demand. Prices would rise to compensate, and they wouldn't be a party to that.
I'd be more worried about a "nationalization of strategic metals", and those evil hoarders who would not turn it in.. The trick with silver is going to be getting out completely at just the right moment. Two weeks before they make the grab.
Hypothetic question, as friends have asked me and I just don't know. The Gubment sends a notice that "ALL GOLD MUST BE RETURNED TO THE FEDERAL RESERVE" Obviously they set up a process where we bring it to any bank and get paid a price (spot -? or Spot + ?) I assume the spot price would rise dramatically? What would happen to the metal that we did NOT turn in, be it gold or silver? Any logical thoughts? Thanks much
IF that happened, the gov would set the BUY price at whatever they wanted. Say $1000/oz. THAT is what you would get, MINUS any TAXES after you PROVED your purchase price, otherwise, you will be taxes at whatever % they use on the total amount. THEN they would set the 'value' at whatever they wanted. Its that simple. They can set it at $3000 USD and if someone wants to or needs to get out of dollars and wants gold, THAT is what the gov will sell it for. It will be ILLEGAL for the hidden gold to be sold off market. Sure, you could sell some for less than what the gov is selling for, but you could go to jail too.
P.S.
Unlike other illegal things, cocaine, alcohol during prohibition, etc. The 'street' value would become MUCH MUCH MUCH MUCH less than whatever the gov is paying for gold. Right off the bat, if they are collecting 35% tax, and buying for 1000 and you dont have a real receipt for your purchase you are going to get $750.00 from the fed. But remember, it does not matter, its waht $750 WILL GET YOU. If gasoline goes to $7.50 from $3.50 its like getting $300.00 for your precious.
One truism is that everything changes, nothing stays the same forever. Therefore, I would bury it for a future without these laws in place. Better come up with my price if you want it, you vampires. I have a shovel.
Well if Canada and Mexico do not adopt similar measures, then the law becomes moot. Ingots could and would be smuggled, and wealth would simply vacate the US of A.
Thanks much
Well , Hell? I'll do a short @ the 1.04 something, with a tight stop!
Shine on you crazy diamond
Tyler
If Wall Street owns the US Government, surely it will also "own" the price settings mechanism for gold?
True, but it's a global game now with the U.S. becoming less and less relevant by the day.
Gold? Verily the gsr will go to 14/1 with the price of gold going up! Verily their is a reason why them hebrewians call both money and the precious kesef. The third industrial revolution be waiting and when spurs be put to it; kick the tires and light the fires; for all kinds of shit go silly. In one of my quatrains it read that 1ozt .999 ag will trade for 1 acre of fertile land. I command thee to trade gold for silver. your main stash should be the 1977-79 1ozt of silver .925 the coin is large with scales and press. !he 1949 version was the first 1ozt round silver coin,
In conclusion the seuculum and the fourth turning will make this sissified rhubarb appear like a pillow fight at yale............................
Bart Chilton - MF Global Disaster Should Not Have Happened
GATA on Chilton: CFTC's evasion after 3 years investigating silver is answer enough - SilverSeek.com
Gold, the ultimate hedge fund - lifetime wealth option that never expires!
Hello 1776.
The value of gold is in its non-reactivity and luster, oh yeah and the fact that you can bury it for a thousand years at the bottom of the sea and if pure, it retains said properties. Try that with anything paper, or better yet, the breathed promises of governors, or better yet, with anything else on earth.
That said, the market is choppy (I've heard the term "violent") and if you are trading, God Bless your straight ruler and your nerve. If you are holding, open up that time capsule in five-six years and throw a party.
Gold is off-sale.
I'll continue to take advantage of the silver sale.