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Title: Gold Falls 4% As Futures Sold Aggressively While Buying of Coins and Bars Surges
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URL Source: https://news.goldcore.com/gold-fall ... ying-of-coins-and-bars-surges/
Published: Mar 13, 2020
Author: Tyler Durden
Post Date: 2020-03-13 11:44:38 by Horse
Keywords: None
Views: 3878
Comments: 73
Stock markets around the world collapsed yesterday as market panic led to massive sell offs of over 10% on U.S. markets, the worst crash since October 1987 and European stocks had the largest falls seen since 1940. ? Gold started the day well and only started falling at 1130 GMT and ended the day 4% lower; the sell off was once again solely a futures market phenomenon as government mints, refineries and gold bullion brokers around the world including GoldCore, saw very significant demand for coins and bars – and very little selling. Poster Comment: Good sign. End is nigh.
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#1. To: Horse (#0)
With the stock market crashing, shouldn't gold be going up? Ain't that the way it's supposed to work? But the gold/silver ratio is up to 105. Never saw it that high before.
When Trump took office the DJI was below 20,000, the S&P was about 22,000, and the NASDAQ was ~5,300. One year ago the three markets were about where they are today.
Good question. Corporations and investors are scrambing like mad for the strongest liquid currency to do business in. That makes for a strong dollar. When you price PM's in rising dollars, the price of PM's will tend to decrease. Also investors have also been putting a lot of gold and silver on the market to cover their losses in shorts and other badly performing assets. It is quick er to cash out of PM's than to sell the ranch.
I did not check Premiums on gold and silver coins and bars. The quoted price does not reveal the Premiums. My reaction was that the cartel was hitting the futures market hard. But the physical demand remained strong as physical sales are up. If I had free money around, it would go to physical gold and silver. One day there will be no physical for sale. Then the Dollar Dies and we get real prices.
The Truth of 911 Shall Set You Free From The Lie
My theory is that you can go by spot prices because whatever premium you pay when buying, you'll pass on the the next owner when selling. Does that make any sense? ;)
_____________________________________________________________ USA! USA! USA! Bringing you democracy, or else! there were strains of VD that were incurable, and they were first found in the Philippines and then transmitted to the Korean working girls via US military. The 'incurables' we were told were first taken back to a military hospital in the Philippines to quietly die. – 4um
I am reminded of 1987. There is a lot of debt that is expected to vanish, which is deflationary and is built into today's strong dollar and panicky markets. What's next is huge fiscal stimulus going into infrastructure spending in the US, just as China has poured a lot of their paper into infrastructure (often badly). This will be the last gasp of the labor market before AI reaches industrialization and changes the economic structure for production labor permanently. Still, it will be good for the middle class over the mid-term (10 years) I believe that is known as the "greater fool theory". Do tell.
_____________________________________________________________ USA! USA! USA! Bringing you democracy, or else! there were strains of VD that were incurable, and they were first found in the Philippines and then transmitted to the Korean working girls via US military. The 'incurables' we were told were first taken back to a military hospital in the Philippines to quietly die. – 4um
No offense intended. Paying a high price in the expectation that you will be able to charge a high price to the next guy is either fortunate trading or the GFT.
In general, yes. But in my experience, that notion falls apart during times of extreme volatility, for silver anyway. When silver dropped 50% in 2008 -- to about $9.50/oz -- I tried to buy, but the premiums were outrageous. Like the man said, "It's a big club -- and you ain't in it."
Thanks, that makes sense.
That's paper gold that's going down, ETF's, not the yellow stuff. Trade all of your paper fiat FRN's & phony paper PM's for the real thing, physical Gold & Silver. Both are TX companies that have a perfect track record with me over the years. “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Yer welcome, SG. And that's not to say that the usual suspects ain't at work suppressing PM prices.
Thanks Lod, that's good info.
Yes, those Irishmen can be pretty tricky.
Gold today ended at $1529.29 and the Futures at $1517.80, these figgers are per ino.com I pulled the trigger on some yellow stuff, for better or worse. “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Hey, Loddy, check out MoneyMetals.com Interesting stuff, premiums might be a bit high, but you never know when you're going to need a good supply of rhodium. The .999 copper rounds caught my eye, some neat designs and only about a buck a whack. Might be a good gift to give a future metal bug. Cheap, copper's been down quite awhile. Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. Thanks Lod, that's good info. I've dealt with OnlyGold.com (buy side) and TexMetals.com (sell side), never had a problem. Premiums going in and out kinda suck, as does the shipping and insurance, but that's part of the physical game. Might do better on Ebay, but, I dunno about dealing with an unknown... Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. Excellent find, thank you. They were a bit cheaper than Provident, so I'll definitely check them out further, thanks, again. “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
My brother and I have all our dad's metals (it looks just like what I've bought, amazingly enough) and I've never sold anything, and hope that I never have to sell. But one never knows... “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Very good question. In the long term, yes, but at the time of a crash, people want/need/are forced to sell their assets at a loss or come up with cash to better cover their existing positions, and that means gold and silver start being sold in a frenzy. And when everyone starts selling everything, it means that dollars themselves are in high demand, making the dollar worth more compared to about everything else, so precious metal prices tend to drop. But once all that is done and the Fed has declared more quantitative easing by pushing cash into the economy, inflation should start to kick in, and that will reverse the tide. Maybe think of it as a tsunami where the tide goes out before coming back with a vengance. Check this video by Mike Maloney he put out a couple days ago. 15 mins.
That reminds me of when my wife and I bought our house years ago, and I called my dad to tell him. "Dad, we bought a house. I sold some guns to get the down payment." Dad was not pleased. "Son, we don't sell guns; we buy guns!" Happily, I hadn't sold any of the guns that he had given me, only those I had bought after leaving home. I still have all the guns he gave me.
Came up as one of those ads on the ZH homepage. The copper rounds caught my eye (Don't Tread On Me). Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. Happily, I hadn't sold any of the guns that he had given me, only those I had bought after leaving home. I still have all the guns he gave me. Great dad and great story, thanks. “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Very touching -- if only every father (and son) felt that way.
_____________________________________________________________ USA! USA! USA! Bringing you democracy, or else! there were strains of VD that were incurable, and they were first found in the Philippines and then transmitted to the Korean working girls via US military. The 'incurables' we were told were first taken back to a military hospital in the Philippines to quietly die. – 4um
texmetals.com providentmetals.com They're both totally out of American Silver Eagles. They're very hard to find at the moment, all sold out! Online dealers servers are crashing due to the overload of buyers. Helicopter Money ain't working. Thanks! The video was interesting, but your four sentence explanation was more comprehensible and useful than the entire video.
Yep, and the way that metals' futures look, the demand will be even greater next week; it's a great time to buy it, if you can find it.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
And I still have the Big Beam 6 volt lantern battery flashlight he gave me 50 years ago. Sealed beam -- like and old fashioned headlight -- and a red flasher on back. Dad is an electrical engineer, retired from the power company, where he designed electrical power substations and distribution lines. After he recovered from a lengthy illness a couple of years ago, he and I went for a long celebratory ride out in the country. Lost 50 miles from nowhere in the middle of endless corn fields, I drove as he navigated us back home using power lines as trail markers and substations as landmarks.
My Dad had a bag with a lot of 90% silver coins in it. He was living in the Senior building in town. He was getting coin magazines. But the big problem is he would not lock his apartment door. Some guy that worked there got in his apartment, found the coins and stole them. It was his own fault. :-/ "When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
My Dad probably did, but he died in 1976 fighting the (BS) Cold War. Spent my 15th birthday at dear old Dad's funeral. Think I'm not the most effed' up survivalist you've ever met? Think again. I don't scare anymore. Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. How sad -- sorry to hear that! The Cold War = Vietnam?
_____________________________________________________________ USA! USA! USA! Bringing you democracy, or else! there were strains of VD that were incurable, and they were first found in the Philippines and then transmitted to the Korean working girls via US military. The 'incurables' we were told were first taken back to a military hospital in the Philippines to quietly die. – 4um
Any special reason why you're focusing on American Eagles? Canadian Silver Maples & even private mint coins have the same .999 fineness. Being in America, buying things with the USA stamp made me kinda nervous. (like they might want them back, again) That's why I bought Canadian, not too many Mounties in Indiana. Check TexMetals.com for the government reporting requirements, kids. Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. Very cool, thanks. Enjoy your time(s) together, you'll have more great memories. “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
Not exactly, Dad got drafted out of high school and was put on one of Uncle Sam's boats to the Philippines to fight the yellow menace (I found some pics & letters after he died). He never talked about what happened. He went to a local business college on the GI Bill and ended up at government defense joint as some kind of manager. A friend of mine (former best friend) worked at the same place years after Dad. He's gone now too (stroked out at work), but told me Dad was involved what was called EW1 (active electronic warfare). To answer your question, no not Vietnam, commies in general, AKA, Russkies. Remember the whole Sputnik panic, etc.? My Dad did what he was supposed to do when he came back from WWII, he got married, has his obligatory two and a half kids, and spent the rest of his life in quiet desperation. I'll never know what he aspired to, I was just always the kid that wasn't a problem for him. When I said something about a half kid, I wasn't joking. My younger sister was born with Down's Syndrome and severely retarded and physically handicapped. Well, Dad marched on, fighting the commies, bringing his briefcase home, working well into the night, and patching the damned crack in the basement wall with hydraulic patching cement every time it rained and the water came in. In hindsight, as a four year old, I think that was Dad'd "windmill to tilt" I think that was therapy for him. As the Age of Aquarius moved on, my older sister became a hippy (slut), dropped out of HS, got further and further in trouble with the law. FFW to 03 Apr 1976, Me, Mom, Dad and my handicapped sister were sitting at the dinner table having dinner (like that happens anymore). The (dial) phone on the wall rings, Mom answers and hands the phone to Dad. Apparently, older sister is in trouble with the law (from what I heard as a 14 y-o). Dad sat back down in his seat (back facing the wall. Took me years to figure out what that was about, duh). Back to the story, Dad sat back down, put his head in his hands, and said, "That girl's ruined my life." I was sent to my room shortly after dinner. I stayed in there with my door shut as was expected. I'm going to omit some private details for decency's sake. My BR at the time had windows that faced the street. Regardless, Dad & me didn't get to lay on the kitchen/family room floor and watch M*A*S*H or whatever as usual. The fire truck came, the police station wagon, I peeked out the curtains respecting my curfew, and Dad was off to the hospital. I don't remember much until Mom came home with a pastor in tow (I was in charge of my younger sister at the time, hell I was a man, as Dad used to say). Dad was gone. That's all I've got to say about that. The next 30 or 40 years were exciting. Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. Jefferson's quote was accurate. If you check online you will find that since the founding of the FED in 1913, the Dollar has lost from 92% to 98% depending on which site you look at. ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
If you go to your grave without selling, then it means you saved money that you never used.
Lod's got family, I think, I never asked. I don't have anyone, I sure as hell don't wanna be the richest bastard getting dumped wherever (MedCure). I'll PM you. Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. I've never seen a U-Haul behind a hearse. Luke 12:48 - "From everyone who has been given much, much will be demanded; and from the one who has been entrusted with much, much more will be asked." For those who want their last check to go to the funeral home, and plan for it to bounce; they've missed the mark. Not preaching, just sharing my beliefs. fwiw “The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
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#2. To: Horse, All, reminder (#0)
Freedom is a social skill.
#3. To: StraitGate (#1)
With the stock market crashing, shouldn't gold be going up?
#4. To: randge, StraitGate (#3)
#5. To: Horse (#4)
#6. To: Horse, randage, StraitGate (#0)
Good sign. End is nigh.
Freedom is a social skill.
#7. To: NeoconsNailed (#5)
My theory is that you can go by spot prices because whatever premium you pay when buying, you'll pass on the the next owner when selling. Does that make any sense?
Freedom is a social skill.
#8. To: Anthem (#7)
#9. To: NeoconsNailed (#8)
Freedom is a social skill.
#10. To: NeoconsNailed (#5)
My theory is that you can go by spot prices
#11. To: randge (#3)
#12. To: StraitGate, fake paper gold (#1)
shouldn't gold be going up?
Ron Paul - Lake Jackson Texas Values
#13. To: StraitGate, Anthem, NN, PM buyers, 4um (#10)
my two metals dealers
#14. To: StraitGate (#11)
#15. To: Lod (#13)
Both are TX companies that have a perfect track record with me over the years.
#16. To: randge (#14)
the usual suspects
#17. To: hondo68, 4um (#12)
#18. To: Lod, 4um (#17)
I pulled the trigger on some yellow stuff, for better or worse.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#19. To: StraitGate, Lod, 4um (#15)
Both are TX companies that have a perfect track record with me over the years.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#20. To: Esso (#18)
#21. To: Pinguinite, Esso, StraitGate, 4 (#19)
#22. To: StraitGate (#1)
With the stock market crashing, shouldn't gold be going up? Ain't that the way it's supposed to work?
But the gold/silver ratio is up to 105. Never saw it that high before.
#23. To: Lod (#21)
have all our dad's metals... never sold anything
#24. To: Lod, 4um (#20)
Excellent find, thank you.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#25. To: StraitGate (#23)
"Son, we don't sell guns; we buy guns!"
#26. To: StraitGate (#23)
(Edited)
#27. To: Lod, StraitGate, Anthem (#13)
(Edited)
my two metals dealers
.jpg&f=1&nofb=1)
Ron Paul - Lake Jackson Texas Values
#28. To: Pinguinite (#22)
#29. To: hondo68 (#27)
#30. To: NeoconsNailed, Lod (#26)
#31. To: Lod (#21)
My brother and I have all our dad's metals
#32. To: NeoconsNailed, 4um (#26)
Very touching -- if only every father (and son) felt that way.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#33. To: Esso (#32)
#34. To: hondo68, 4um (#27)
They're both totally out of American Silver Eagles. They're very hard to find at the moment, all sold out!
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#35. To: StraitGate (#30)
#36. To: NeoconsNailed, 4um (#33)
(Edited)
The Cold War = Vietnam?
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#37. To: Pinguinite (#22)
#38. To: Lod (#21)
and hope that I never have to sell.
#39. To: Pinguinite, Lod, 4um (#38)
If you go to your grave without selling, then it means you saved money that you never used.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#40. To: Pinguinite, Esso, StraitGate, BTP, estate planners, 4um (#39)
random thoughts
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