4um: Indian Silver Imports Set Record In 2022

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Title: Indian Silver Imports Set Record In 2022
Source: [None]
URL Source: https://www.zerohedge.com/personal- ... silver-imports-set-record-2022
Published: Jan 24, 2023
Author: Tyler Durden
Post Date: 2023-01-24 18:52:09 by Horse
Keywords: None
Views: 50
Comments: 7

The Indian government’s crackdown on the gold market has boosted silver investment...
Poster Comment:
India was playing fast and loose in ruble-gold payments for Russian oil. Over 30 tons of gold went into private hands. But this silver gain is good news because the cartel does not have as much money as Asian housewives.
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Begin Trace Mode for Comment # 3.
#1. To: Horse (#0)
Getting your hands on physical metal in my area is costing me 10 bucks over spot which is asinine. It’s not 10 bucks over spot for the order, it’s 10 bucks over spot for every ounce. So those $34.00 Silver Eagles are $44.00. Which is asinine as hell.

TommyTheMadArtist posted on 2023-01-25 11:33:07 ET Reply Untrace Trace Private Reply
#2. To: TommyTheMadArtist, 4um (#1)
Getting your hands on physical metal in my area is costing me 10 bucks over spot which is asinine.

Last I looked, I think Au is running $100/oz over spot. Last time I turned in some coins to help a couple buddies out, Solly paid me over spot. He probably made one call and had a $700 profit before I got a cigarette lit in my truck.
I wouldn't be buying in this market.

Esso posted on 2023-01-25 11:46:43 ET Reply Untrace Trace Private Reply
#3. To: Esso (#2)
Oh I am aware. It’s insane what people seem to think they can sell and buy it for. On one hand the spot price is 24 bucks. On the other, you’re paying for the premium coinage and of course the obligatory handling fee.

It’s all a scam I think.

TommyTheMadArtist posted on 2023-01-25 16:15:55 ET Reply Untrace Trace Private Reply
Replies to Comment # 3.
#4. To: TommyTheMadArtist (#3)
It’s all a scam I think.

I did OK so far. I went in pretty hard around 2009 when the financial crisis was in full swing. I've never been out of the money including premiums, shipping, etc.
I got lucky. I've doubled my initial investment, but taking over a decade to do it is a pretty piss poor ROI in that time frame. You'd need about a 100% return/yr to keep up with Bidet's inflation right now.

Esso posted on 2023-01-25 16:34:36 ET Reply Untrace Trace Private Reply
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