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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: 3989
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 # 42.

#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  

have all our dad's metals... never sold anything

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.

StraitGate  posted on  2020-03-13   23:02:04 ET  Reply   Untrace   Trace   Private Reply  

Very touching -- if only every father (and son) felt that way.

NeoconsNailed  posted on  2020-03-13   23:12:16 ET  Reply   Untrace   Trace   Private Reply  

Very touching -- if only every father (and son) felt that way.

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.

Esso  posted on  2020-03-14   0:20:14 ET  Reply   Untrace   Trace   Private Reply  

How sad -- sorry to hear that! The Cold War = Vietnam?

NeoconsNailed  posted on  2020-03-14   0:22:14 ET  Reply   Untrace   Trace   Private Reply  

The Cold War = Vietnam?

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.

Esso  posted on  2020-03-14   2:17:26 ET  Reply   Untrace   Trace   Private Reply  

Unbearably tragic. Your sister got pregnant or something and your father took his own life out of grief over it? Why the fire truck?

I'm really sorry you had to go through all this.

NeoconsNailed  posted on  2020-03-14   12:51:46 ET  Reply   Untrace   Trace   Private Reply  

#43. To: NeoconsNailed (#42)

Your sister got pregnant or something...

No, something criminal.

...your father took his own life out of grief over it?

No, BFHA (big friggin' heart attack).

Why the fire truck?

I dunno, they just do that here for medical emergencies.

Esso  posted on  2020-03-14 14:57:52 ET  Reply   Untrace   Trace   Private Reply  

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