Gold Falls 4% As Futures Sold Aggressively While Buying of Coins and Bars Surges

Source: https://news.goldcore.com/gold-falls-4-as-futures-sold-aggressively-while-buying-of-coins-and-bars-surges/
Published: Mar 13, 2020
Author: Tyler Durden
Post Date: 2020-03-13 11:44:38 by Horse
Views: 4271

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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#23: StraitGate    To: Lod (#21)

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   Reply   Private Reply


#24: Esso    To: Lod, 4um (#20)

Excellent find, thank you.

Came up as one of those ads on the ZH homepage. The copper rounds caught my eye (Don't Tread On Me).

Esso posted on 2020-03-13 23:03:41   Reply   Private Reply


#25: Lod    To: StraitGate (#23)

"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.

Great dad and great story, thanks.

Lod posted on 2020-03-13 23:10:42   Reply   Private Reply


#26: NeoconsNailed    To: StraitGate (#23)

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

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


#27: hondo68    To: Lod, StraitGate, Anthem (#13)

my two metals dealers

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.

hondo68 posted on 2020-03-13 23:34:50   Reply   Private Reply


#28: StraitGate    To: Pinguinite (#22)

Thanks! The video was interesting, but your four sentence explanation was more comprehensible and useful than the entire video.

StraitGate posted on 2020-03-13 23:41:01   Reply   Private Reply


#29: Lod    To: hondo68 (#27)

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.

Lod posted on 2020-03-13 23:43:00   Reply   Private Reply


#30: StraitGate    To: NeoconsNailed, Lod (#26)

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.

StraitGate posted on 2020-03-14 00:01:33   Reply   Private Reply


#31: BTP Holdings    To: Lod (#21)

My brother and I have all our dad's metals

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. :-/

BTP Holdings posted on 2020-03-14 00:12:09   Reply   Private Reply


#32: Esso    To: NeoconsNailed, 4um (#26)

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 00:20:14   Reply   Private Reply


#33: NeoconsNailed    To: Esso (#32)

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

NeoconsNailed posted on 2020-03-14 00:22:14   Reply   Private Reply


#34: Esso    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!

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.

Esso posted on 2020-03-14 00:31:30   Reply   Private Reply


#35: Lod    To: StraitGate (#30)

Very cool, thanks.

Enjoy your time(s) together, you'll have more great memories.

Lod posted on 2020-03-14 00:49:47   Reply   Private Reply


#36: Esso    To: NeoconsNailed, 4um (#33)

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 02:17:26   Reply   Private Reply


#37: BTP Holdings    To: Pinguinite (#22)

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. ;)

BTP Holdings posted on 2020-03-14 02:50:49   Reply   Private Reply


#38: Pinguinite    To: Lod (#21)

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 05:25:45   Reply   Private Reply


#39: Esso    To: Pinguinite, Lod, 4um (#38)

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 05:53:54   Reply   Private Reply


#40: Lod    To: Pinguinite, Esso, StraitGate, BTP, estate planners, 4um (#39)

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   Reply   Private Reply


#41: Liberator    To: Lod (#40)

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   Reply   Private Reply


#42: NeoconsNailed    To: Esso (#36)

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   Reply   Private Reply


#43: Esso    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   Reply   Private Reply


#44: NeoconsNailed    To: Esso (#43)

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

How curious.

NeoconsNailed posted on 2020-03-14 15:37:14   Reply   Private Reply


#45: hondo68    To: Esso (#34)

Any special reason why you're focusing on American Eagles? Canadian Silver Maples & even private mint coins have the same .999 fineness.

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.

hondo68 posted on 2020-03-14 15:42:35   Reply   Private Reply


#46: Pinguinite    To: hondo68 (#45)

Shortage is driving the price UP.

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.

Pinguinite posted on 2020-03-14 16:09:05   Reply   Private Reply


#47: hondo68    To: Pinguinite (#46)

... 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.

hondo68 posted on 2020-03-14 17:00:34   Reply   Private Reply


#48: Pinguinite    To: hondo68 (#47)

Money goes up and down in value with supply & demand changes just like eeeeeeverything else.

Pinguinite posted on 2020-03-14 17:07:07   Reply   Private Reply


#49: BTP Holdings    To: Pinguinite (#48)

Money goes up and down in value with supply & demand changes just like eeeeeeverything else.

The Crash of '29 caused the virtual disappearance of cash since the FED tightened the money supply so much that loans from banks were nearly impossible to obtain. Everything went down in price and deflation was a big problem.

I recall my maternal Grandfather had equipment in the basement so he could cobble shoes for the family, since shoe repairs were a luxury only for the wealthy. ;)

BTP Holdings posted on 2020-03-14 17:15:24   Reply   Private Reply


#50: hondo68    To: Pinguinite (#48)

Money goes up and down in value with supply & demand

Can you buy a gallon of gas for a quarter like I did in the 60's?

No way! The dollar has gone down in value hugely over the years. You used to be able to actually buy something with a genuine copper penny, not today.

If you sold a silver quarter today, you'd have enough to buy that gallon of gas.

PM's hold their value, unlike US FRN's.

hondo68 posted on 2020-03-14 17:21:23   Reply   Private Reply


#51: hondo68    To: Horse (#0)

How Precious Metal Dealers Protect Themselves During Spot Price Plunge | Why RAISE PREMIUMS?

hondo68 posted on 2020-03-14 22:38:44   Reply   Private Reply


#52: Lod    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   Reply   Private Reply


#53: Lod    To: hondo68, Esso, 4um (#45)

To my eyes, Pandas and Kangaroos are the prettiest AU coins, and the Lakota coins the prettiest AG. Prolly all in the eye of the beholder, but the scales and the assayist don't care.

Lod posted on 2020-03-15 00:42:21   Reply   Private Reply


#54: Lod    To: hondo68 (#50)

If you sold a silver quarter today, you'd have enough to buy that gallon of gas.

Much like a year's wages for a new vehicle, or three years for a home, an hour for decent shirts or jeans, and on and on.

Lod posted on 2020-03-15 00:49:37   Reply   Private Reply


#55: BTP Holdings    To: Lod (#52)

establishes what today is called a fiduciary responsibility

It is that responsibility that is entrusted to my payee. When she violates it she has breached her duty.

Now to figure a way to nail her on it.

I need that letter from my primary physician which says I am able to handle my own finances . Then Legal Aid will send me a lawyer so I can get rid of her.

I will call up to the clinic on Monday and put a bug in his ear or his nurse's ear. ;)

BTP Holdings posted on 2020-03-15 02:14:05   Reply   Private Reply


#56: NeoconsNailed    To: Lod (#53)

Anybody buying maple leafs, please bear in mind they're extremely racist, yea even communist.

NeoconsNailed posted on 2020-03-15 02:14:46   Reply   Private Reply


#57: Liberator    To: Lod (#52)

("...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.

Well parsed, brutha. Indeed.

It is a stark reminder for us to stop and truly contemplate and embrace our "legal fiduciary responsibility" as commanded by the Lord. Upon those He has imparted His own eyes, ears and heart is His mandate to share that Light. It should stop all of us in our tracks. Time is short.

"The World" more than ever seems to see its primary purpose and mission as through the lens of serving only our own momentary happiness and pleasures. Unfortunately, many "Believers" also find themselves in that same boat.

Here's another relevant, remindful chapter/verse:

"Do not love the world or the things in the world. If anyone loves the world, the love of the Father is not in him. For all that is in the world—the desires of the flesh and the desires of the eyes and pride in possessions—is not from the Father but is from the world." -- 1 John 2:15-16

Liberator posted on 2020-03-15 12:21:42   Reply   Private Reply


#58: randge    To: NeoconsNailed (#56)

Anybody buying maple leafs, please bear in mind they're extremely racist,

And then there's that Golden Buffalo with the Injun on the obverse. It is even more so.

They say the last refuge of a scoundrel is patriotism.

Today, "racism" is the first.

randge posted on 2020-03-15 14:16:25   Reply   Private Reply


#59: Esso    To: NeoconsNailed, Lod, 4um (#56)

Anybody buying maple leafs, please bear in mind they're extremely racist, yea even communist.

OK, I gotta admit, you lost me. You did make me look at one though. Still lost.

Esso posted on 2020-03-15 14:26:55   Reply   Private Reply


#60: StraitGate    To: Esso (#59)

OK, I gotta admit, you lost me. You did make me look at one though. Still lost.

Me too. Maybe it has something to do with real maple syrup vs. high fructose corn syrup based Aunt Jemima syrup?

StraitGate posted on 2020-03-15 14:59:20   Reply   Private Reply


#61: Esso    To: StraitGate (#60)

It's the damned trees! F#ck, I knew it!

Esso posted on 2020-03-15 15:03:35   Reply   Private Reply


#62: BTP Holdings    To: StraitGate (#60)

Maybe it has something to do with real maple syrup vs. high fructose corn syrup based Aunt Jemima syrup?

I use the real deal pure Maple syrup. None of the High Fructose imitation syrup for me.

I can even get a bottle of whiskey barrel cured syrup they say could have 3% alcohol content. Geez, that is a bit like the 3.2 beer they serve at sporting events. But then I am not drinking a whole bottle of that stuff either. LOL

BTP Holdings posted on 2020-03-15 15:26:07   Reply   Private Reply


#63: hondo68    To: BTP Holdings (#62)

Don't Panic when Buying Silver - Searching for Silver Deals is Key

hondo68 posted on 2020-03-15 17:00:41   Reply   Private Reply


#64: NeoconsNailed    To: Esso (#59)

wikid: 'During the 1970s and 1980s, some western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa, most notably the United States, which was the coin's largest market in 1985'.

wikid: the Gold Maple Leaf 'was introduced in 1979.[6][7] At the time the only bullion coin was the Krugerrand, which was not widely available because of the economic boycott of apartheid-era South Africa. Coins minted between 1979 and 1982 have a gold content of .999.'

I've heard Canada created the coin expressly to draw sales away from the evil, racist, discriminatory, hate-filled, apartheid-ridden Krugerrands. Or to cynically exploit the ban. We -- or I -- like to think of Canada as less pigheaded and perverse than ameriKa, but in reality it just follows along with whatever wonderful thrilling ameriKa does. Like how many countries out there? :-6

NeoconsNailed posted on 2020-03-15 22:13:08   Reply   Private Reply


#65: NeoconsNailed    To: randge (#58)

They say the last refuge of a scoundrel is patriotism.

Oops, I almost wrote an extremely jaundiced, disillusioned reply right here about the few shreds of mine that remain.

NeoconsNailed posted on 2020-03-15 22:21:53   Reply   Private Reply


#66: StraitGate    To: NeoconsNailed (#64)

Canada is in some ways more pig-headed than the USSA. You and several others of us here would be in prison if we lived in Canada and said and did the things we do here.

StraitGate posted on 2020-03-15 23:16:15   Reply   Private Reply


#67: NeoconsNailed    To: StraitGate (#66)

For sure. The state of free speech is deplorable because they're heavily jewed up there.

NeoconsNailed posted on 2020-03-16 00:10:43   Reply   Private Reply


#68: noone222    To: Horse (#0)

I'm hopeful that this situation will result in the separation of paper metal prices from the real thing. It's ridiculous to have them tied together when one is able to be produced at the stroke of a pen and the other is somewhat finite in its existence.

noone222 posted on 2020-03-16 06:27:46   Reply   Private Reply


#69: Esso    To: noone222, 4um (#68)

I'm hopeful that this situation will result in the separation of paper metal prices from the real thing.

Unfortunately, it kinda has. You can't buy metals anywhere near spot price. The premiums are outrageously high. If you sell through a legit source, the best you'll do is well below spot.

Never seen it this bad.

Esso posted on 2020-03-16 10:15:50   Reply   Private Reply


#70: BTP Holdings    To: noone222 (#68)

the separation of paper metal prices from the real thing.

If you hold paper metals (futures contracts or anything similar) you are not holding the physical metals. It can all disappear in an instant.

All or most of the alluvial gold (the easy stuff to get out) has been gotten already and most now is from deep rock mining.

There are still a few places in the world it can be gotten. Ghana is one place and there is a brisk market there for those alluvial metals.

Also,from what I have heard, Putin is giving away free land to anyone who wishes to move there. The only catch is you need to have $100,000 in order to move there. It seems there is always a catch.

But 150 Boer farmers have decided to take up Putin on his offer. More power to them. ;)

BTP Holdings posted on 2020-03-16 10:23:39   Reply   Private Reply


#71: noone222    To: Esso (#69)

Those holding real metals will set the price for themselves ultimately. Some are investing in guns with better success than some holding metals.

noone222 posted on 2020-03-16 10:28:38   Reply   Private Reply


#72: randge    To: NeoconsNailed (#65)

Today, "racism" is the first.

randge posted on 2020-03-16 13:58:53   Reply   Private Reply


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