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Title: Gold Falls 4% As Futures Sold Aggressively While Buying of Coins and Bars Surges
Source: [None]
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: 3931
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.

Post Comment   Private Reply   Ignore Thread  

Begin Trace Mode for Comment # 41.

#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.

StraitGate  posted on  2020-03-13   14:20:28 ET  Reply   Untrace   Trace   Private Reply  

With the stock market crashing, shouldn't gold be going up?

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.

randge  posted on  2020-03-13   14:57:56 ET  Reply   Untrace   Trace   Private Reply  

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.

Horse  posted on  2020-03-13   15:08:25 ET  Reply   Untrace   Trace   Private Reply  

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? ;)

NeoconsNailed  posted on  2020-03-13   15:16:09 ET  Reply   Untrace   Trace   Private Reply  

My theory is that you can go by spot prices

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."

StraitGate  posted on  2020-03-13   15:47:33 ET  Reply   Untrace   Trace   Private Reply  

my two metals dealers

texmetals.com

providentmetals.com

Both are TX companies that have a perfect track record with me over the years.

Lod  posted on  2020-03-13   19:49:48 ET  Reply   Untrace   Trace   Private Reply  

Both are TX companies that have a perfect track record with me over the years.

Thanks Lod, that's good info.

StraitGate  posted on  2020-03-13   20:43:41 ET  Reply   Untrace   Trace   Private Reply  

Both are TX companies that have a perfect track record with me over the years.

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...

Esso  posted on  2020-03-13   22:28:52 ET  Reply   Untrace   Trace   Private Reply  

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...

Lod  posted on  2020-03-13   22:48:51 ET  Reply   Untrace   Trace   Private Reply  

and hope that I never have to sell.

If you go to your grave without selling, then it means you saved money that you never used.

Pinguinite  posted on  2020-03-14   5:25:45 ET  Reply   Untrace   Trace   Private Reply  

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.

Esso  posted on  2020-03-14   5:53:54 ET  Reply   Untrace   Trace   Private Reply  

random thoughts

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

Lod  posted on  2020-03-14   10:17:28 ET  Reply   Untrace   Trace   Private Reply  

I've never seen a U-Haul behind a hearse.

Ha - nice....Can't take it with you.

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."

and besides....

"But lay up for yourselves treasures in heaven, where neither moth nor rust does corrupt, and where thieves do not break through nor steal." -- Matthew 6:20

Liberator  posted on  2020-03-14   10:45:06 ET  Reply   Untrace   Trace   Private Reply  

#52. To: Liberator (#41)

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."

I just realized that the second part of the sentence establishes what today is called a fiduciary responsibility, which is legally held on a higher level than wedding vows.

Sobering stuff there.

Lod  posted on  2020-03-15 00:31:39 ET  Reply   Untrace   Trace   Private Reply  

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