Maybe the correction is happening. Seems there are lots of profit takers today.
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Gold and silver prices are down
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Varmint
NES Member
Gold is still holding onto $1805, if that gives way and we close the week much below $1800 then I think we'll have our correction.
It depends on the overall market unfortunately. If the S&P500 tanks it'll take gold and miners with it.
A slow burn today even though it’s not over yet but tomorrow should be an interesting close for the week.
smokey-seven
NES Member
Knob Creek
NES Member
Has anyone bought silver lately? Heard it’s tough to buy.
richc
NES Member
A month or two ago it was as rare as hens teeth. I remember looking at Apmex for silver bars. They might have one type in stock, or none at all. And the premiums over spot were big.
Things have settled some and there's more availability right now. 100 ounce bars are running $2150 to $2200 on average.
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1 oz American Eagles are running about $25 each, over a $6 premium over spot per one ounce coin.
I have a few PM dealer friends, so I can usually get an endless supply of premium stuff, but the generic has been harder to find. Prices vary obviously, but let me know how much you want. If I can put together a large enough order, I can probably get a pretty good price.
Knob Creek
NES Member
How about Silver Eagle Monster boxes?
n1oty
NES Member
I ordered five 10 ounce silver bars out of JM Bullion on 7/2 at $1071.50 that is due to actually ship tomorrow. At the time, 10 ounce bars were the smallest available. I'd like to get more 1 ounce and 5 ounce bars, but not available right now.
Varmint
NES Member
About $6 over spot per coin.
Gold Eagle is only $100 over spot, back to normal. Silver Eagle is $7 over spot, which is cause the Comex is suppressing silver prices during the shortage. They will soon have to let the silver price rise to $20, or else everyone will buy futures for $18 and ask for delivery of physical, which the banks will have to lose money on.
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Varmint
NES Member
I said it more succinctly but . . .
To me, yesterday was the first day of the bull market; be ready for something like your most EPIC DREAMS!
Thunderstruck: most shocking gold alert ever!
Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
www.kitco.com
Checked JM bullion 10 ounce bars a few minutes ago.....out of stock on Al but the damn 10 once skills
Gold finished the week a tad over $1800. Silver finished $18.85. still have about 100/1 ratio.
Varmint
NES Member
Very bullish, but I don't think it necessarily means we'll go straight to $1950 and $20 silver, we might just consolidate for a while, or if stocks sell off we could see a selloff. But both will just be temporary.
$19.25 opening up well this week.
smokey-seven
NES Member
Watching silver...
^
^
Varmint
NES Member
You can see today how silver is tied to the stock market. Eventually it'll break free from the stock market, and the monetary component of silver will dwarf the industrial component.
smokey-seven
NES Member
19 to 19.3 and slams back to 18.9 That was a one day roller coaster. Looks like 19.3 is the new resistance.
Varmint
NES Member
Normal to have some volatility around key resistance.
Win
NES Member
As if PMs weren't already undervalued enough, there are going to be more covid shutdowns, stimulus packages, QE continuation, etc. The only thing that would make the environment better for PMs is savvier investors ![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
richc
NES Member
As if PMs weren't already undervalued enough, there are going to be more covid shutdowns, stimulus packages, QE continuation, etc. The only thing that would make the environment better for PMs is savvier investors
Recently I've been wondering about this. Are we headed back to restrictions on our movements? More shortages? Working from home for many more months?
What are y'all thoughts? Where are we headed over the rest of this year?
thx
Rich
You opened up a can of worms there!
My thoughts......if the Dems have their way covid will be declared a major pandemic again sometime in October.....wether it actually is a pandemic again or not.....doesn't matter. Dems want businesses closed.....economy crashing....and voters scared shitless for the November election. They know it's the only chance they have to keep trump from 4 more years. The economy was booming......record low unemployment.......until covid. I'm not a conspiracy theorist like some whack jobs that think the Democrats created covid.......they are just using the shit out of it to increase the chances of negative opinions of trump administration.
We will have to wait and see.
alan226
NES Member
And if Biden gets elected, Covid will be cured and the numbers will plummet by December 1st, Count on it....
Varmint
NES Member
after he dies from it.
Varmint
NES Member
And it's also the only way Illinois, NY and California get their massive debts bailed out.
Closed at 19.56 today according to monex and 19.40 according to jm.
alan226
NES Member
You mean suicide....
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Real World price on a Random Year ASE is $7-8 bucks more before shipping and insurance. High premiums suck...
JM Bullion 10:30pm July 14, 2020:
| Qty | (e)Check/Wire | BTC/ETH | Card/PayPal |
|---|---|---|---|
| 1-19 | $26.26 | $26.53 | $27.35 |
I know the premiums. I'm not looking to buy I'm waiting to sell. Sitting on a decent stash I bought for $15.50 per ounce cash and carry when the price was right.
High premiums are great if you're selling, especially if you have a local cash & carry buyer.
political suicide.
Biden choosing Hillary as a running mate would be
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