See other World News Articles
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: 4037
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
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 47.
#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.
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.
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? ;)
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."
Both are TX companies that have a perfect track record with me over the years.
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.
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.
Just because they're probably the most popular gov minted coin. Shortages are across the board for the most part. Got lots of other gov coins, Maples, Silver Krugerrands, Philharmonics, Kangaroos and such. Was looking on SD Bullion at junk silver, you can still get dimes etc. but the premiums have been jacked up so high that they're more expensive than when silver was in the $18 range. Shortage is driving the price UP. Favorite designs are Krugerrands & Philharmonic because there's no gov propaganda on them, just Country, Year, Face Value, Weight & Purity.
Though liquidity shortages have been, for the last few days, bringing precious metal prices down. At least the electronic prices, which govern physical prices. Once clocks have been cleaned and the new money from the fed hits the markets... We should see a huge rise. Or so the theory goes.
Oh yeah, FRN's are worth less & less every day, so it's gonna take more of them to buy an equivalent amount of PM's.
#48. To: hondo68 (#47)
Money goes up and down in value with supply & demand changes just like eeeeeeverything else.
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#3. To: StraitGate (#1)
With the stock market crashing, shouldn't gold be going up?
#4. To: randge, StraitGate (#3)
#5. To: Horse (#4)
#10. To: NeoconsNailed (#5)
My theory is that you can go by spot prices
#13. To: StraitGate, Anthem, NN, PM buyers, 4um (#10)
my two metals dealers
#27. To: Lod, StraitGate, Anthem (#13)
(Edited)
my two metals dealers
.jpg&f=1&nofb=1)
#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!
#45. To: Esso (#34)
(Edited)
Any special reason why you're focusing on American Eagles? Canadian Silver Maples & even private mint coins have the same .999 fineness.
#46. To: hondo68 (#45)
Shortage is driving the price UP.
#47. To: Pinguinite (#46)
... We should see a huge rise. Or so the theory goes.
Replies to Comment # 47.
End Trace Mode for Comment # 47.