richc
NES Member
Spot on. Our country is economically offed.
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Gold and silver prices are down
- Thread starter Rider
- Start date
Spot on. Our country is economically offed.
Varmint
NES Member
No one wants to be long over the weekend.
Truth
Win
NES Member
Any use the Great Collections auction site? I've been hesitant to use because the interface is terrible. But they do have some diamonds in the rough so I registered. Wondering if anyone has any experiences they can share?
I'm going to try to get out to the Devens coin show later today. I'm teaching Sunday school this morning so I can't leave earlier. I'll let you guys know what was left.
I'm going to try to get out to the Devens coin show later today. I'm teaching Sunday school this morning so I can't leave earlier. I'll let you guys know what was left.
Bought a 2024 gold buffalo.... Ass got real tight when I clicked "purchase". I think I now have to move only to silver. I can't afford gold anymore.
The last buffaloes i bought were 2022 and I've been waiting for a good price since. I might be waiting a very long time
Varmint
NES Member
I haven’t bought gold since like $1900.
Win
NES Member
So I didn't get to the Devens show until 1 PM and by that time I had nearly missed it! Some of the dealers were already having the guards walk them out to their cars. I had not ever seen that before. It makes sense. I just hadn't seen that ending part of the show before. Inside was basically dead with only about half of the dealers still hanging around and very few people walking the aisles.
I traded an ounce of gold for a bunch of vintage silver bars with Walker. Among those was a 25 ounce Engelhard poured bar. Neat! I bought an 1800 silver dollar from Steven Lawson from Pennywise rare coins. He had quite a collection of original early American coins and told me all about them. I enjoyed learning more about the history of America and American coinage. Interesting and friendly guy - recommended if you're into those types of historical coins.
Overall I'm glad I went but I need to get there earlier in the future.
I traded an ounce of gold for a bunch of vintage silver bars with Walker. Among those was a 25 ounce Engelhard poured bar. Neat! I bought an 1800 silver dollar from Steven Lawson from Pennywise rare coins. He had quite a collection of original early American coins and told me all about them. I enjoyed learning more about the history of America and American coinage. Interesting and friendly guy - recommended if you're into those types of historical coins.
Overall I'm glad I went but I need to get there earlier in the future.
yogi
NES Member
In 2011 I bought a proof gold buffalo for ~$2000……not my most profitable buy but I’ve held onto it as I’m in for at least another 20 years or I will be dead and the joke is on my kids.
Sold some Buffalos I purchased for $1000 each in 2007 for $2500 2 weeks ago.
Private sale?
Funny - today my daughter (almost 10) asked me who buys the gold coins when you want to sell.... I said, "I don't know... You'll have to figure that out when you're 25".
PM dealer who paid spot.
Varmint
NES Member
Sweet, now you can afford some Reptile lowers!
Varmint
NES Member
Gold seems like it might be up cause a White House official claims Iran ballistic missile attack is imminent (not in the two week sense I’d guess)
That’s the headline on CNBC.
Varmint
NES Member
Weird that miners are also up, since they are risk plays. My guess is the shorts are worried a sudden gold spike to $3000 could do a world of hurt on miner shorts.
One can hope so.
richc
NES Member
Gold rally cripples physical demand in key markets
Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to sell their holdings and book the profit, industry players and analysts said. Spot gold rose to a record $2,685.42 per ounce on Sept. 26, and has gained around 29% so far this...
Varmint
NES Member
Gold rally cripples physical demand in key markets
Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to sell their holdings and book the profit, industry players and analysts said. Spot gold rose to a record $2,685.42 per ounce on Sept. 26, and has gained around 29% so far this...finance.yahoo.com
Fortunately retail gold and silver demand have little effect on the price, since they’re only 20% of the market.
yogi
NES Member
So people that buy gold are cheap bastardsGold rally cripples physical demand in key markets
Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to sell their holdings and book the profit, industry players and analysts said. Spot gold rose to a record $2,685.42 per ounce on Sept. 26, and has gained around 29% so far this...
richc
NES Member
Varmint
NES Member
No futures? Hmm, cause that’s a big part of the market.
Gold futures trade $60 billion per day. That’s half the annual global jewelry sales.
It should tell you something, that retail demand has fallen in 2024, and gold ETFs have seen net outflows all year until very recently, and yet gold went on a huge bull run.
Retail demand obviously doesn’t move the price.
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richc
NES Member
A paper contract can't be used to make jewelry.
Most contracts are "failed to deliver" and settled in cash. AKA gambling.
Currently, the paper to gold ration is 130 to 1. And silver is at 407 to 1.
Varmint
NES Member
Yeah it’s insane. It might break if the bull market really gets going.
richc
NES Member
It would be interesting to know if the big gold ETF's truly have physical gold, or just smaller portion and the rest in contracts that likely could never be delivered...
Varmint
NES Member
I’ve heard they do have the gold, however the question is JP Morgan at times using that same gold as collateral for other financial entities? Like when there’s a big run up in gold, are they taking gold from GLD to cover demand?
Varmint
NES Member
After getting their permits from the Chilean government today, junior gold miner Rio2 is up 5X on the year. I’m just above break even since I’ve owned it for 3 years.
Varmint
NES Member
Palladium looks interesting at historically low price levels.
www.kitco.com
Although it's all fiat currency, I've been diversifying currency at a small scale. Interestingly, the Thai Baht has appreciated about 13% against the USD since May 1st. Being in Thailand, the baht is my everyday currency.
Palladium Price Today | Price of Palladium Per Ounce | 24 Hour Spot Chart | KITCO
Live Palladium Charts and Palladium Spot Price from International Palladium Markets, Prices from New York, London, Hong Kong and Sydney provided by Kitco.
www.kitco.com
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