Posted on 03/19/2020 3:48:03 AM PDT by MeneMeneTekelUpharsin
People are selling gold and silver to meet margin calls. Also, nearly impossible to get physical delivery of silver under $20 an ounce.
Curious. The “price” of silver is about $13 an ounce but you cannot buy it at that price?
I was wondering that too.
Yeah you can. I THINK
You can buy a futures contract and if you don’t sell the futures contract by expiration I believe you still have the choice of receiving 100 ounces or having it settled financially on day of.
Yes. A 1oz American silver eagle, if you can get one which I doubt, would cost upwards to $25 dollars, so they are twice the $12 spot price.
I bought a bunch back when and was thinking of buying a second “bunch” at $13 an ounce to average down to about $17. Too bad.
I trust you, dp. You’re a finance guy. You can buy a futures contract at today’s price? Are they in bunches? 100 oz., 1,000 oz. etc.?
don’t trust me too much. been a long time
looks like closest contract month price is 12.06 and contract spec is 5,000 troy ounces
100 troy ounces is gold, i think
I’m looking at a table I don’t understand at all. It appears lots of silver are being “auctioned”. “Volume” is ounces? I would hate to place a bid and discover it was pounds.
settle on 3rd friday of every month, i think
This has been going on for years. The assumption is price manipulation. It’s why I have never sold. Sure, they’ll let you SELL at their sell price, but good luck buying at their “buy” price.
This stuff is fricking voodoo. There is only one contract for “April” that I see and it’s only for 250. I can understand all the numbers change as people place bids but the VOLUME changes, too? WTH?
There’s a contract for May for 26,000 or so ounces and the Volume changes every few seconds. Bizarre.
I’m out. I’ve learned too many lessons in life the hard way.
I usually go to the website findbullion and they will "seek" prices. Kind of like ammoseek for ammo
The price is based on the COMEX paper futures.
The physical market is based on the bullion in your hand. The place where I have been buying had very few Silver Eagles to but. And even then, it would take a couple of weeks to get them.
This is the large scale exposure of the manipulation of the metals market.
It’s not going to be pretty for paper gold traders.
DO NOT venture into that marketplace until you’ve educated yourself. You have a lot of questions indicating you are new at this.
They will turn you over, have their way with you, and THEN take all of your money.
You are much better off buying physical metals.
ditto here
i’m too old to take the chances i once took
51, but that’s a lot older than 31
my risk taking days are over
and life is boring as #### without it
Thanks. I was seriously thinking about it for a moment. Imagine. If you could buy a bunch of silver to take delivery in a couple weeks it would be fantastic. I could give my grandkids a silver mine they could keep under their bed.
I got 16 years on you but I am always seeking ways to transfer wealth to my grandkids. The government is always looking for ways to give it to someone else.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.