Posted on 04/20/2013 7:00:07 AM PDT by blam
He could be correct, But a part of me is hearing someone say. “Buy, BUY! so I can sell to you and not lose my money.”
I think the lesson here is that owning equities on margin is a dangerous proposition, even given today's low margin interest rates. My guess is that the recent increase in demand for the physical metal will put a floor in under the paper gold. Mining stocks, in particular, will be interesting trading vehicles, even if they don't go steadily up from here. I bought GDX and GDXJ a few days ago, near what I hope will be a short-term low. Not for the faint of heart, however -- not the place to put your kid's college fund.
Only part of you?
Yeah the part between mt ears. LOL
Yeah the part between mt ears. LOL
Should have been:
Yeah the part between my ears. LOL
LOL!
He could be correct, But a part of me is hearing someone say. “Buy, BUY! so I can sell to you and not lose my money.”
Paper gold is down. Physical metal in your possession, no way.
Just walk into any coin shop and ask the price of a gold or silver ounce, to see if their prices have also crashed.
The prices have not decreased in spite of the fall in prices. I can’t get silver anywhere near spot price. They just increase their margins. Heads they win, tails I lose.
Rickards told Business Insider:
What would make me bearish on gold, what would make me want to sell gold?
Well, if the President and the Chairman of the Fed came out and said, "We're going to raise interest rates, we're going to stop quantitative easing — in fact, we're going to reverse it a little bit — we're going to cut corporate taxes to zero, we're going to eliminate the capital gains tax, we're going to reduce regulation, we're going to make America a magnet for savings and investment. We're going to have an investment-driven model rather than a debt and consumption-driven model, and we're going to have positive real rates."
I would say, "Great. Sell your gold, or put it to one side, because gold is over."
But none of those things are true. Not one of those policies that I just mentioned is on the table.
Goldbug ping.
>> “Just walk into any coin shop and ask the price of a gold or silver ounce, to see if their prices have also crashed.” <<
.
‘Twas a false crash.
There is little physical gold or silver available to buy presently. Low prices quoted by news agencies are of no value if no one is willing to sell at those prices.
.
With hearing like that, you're going to be a hard working, low earning man for the foreseeable future.
Margins are very high on Silver Eagles. I bought a few around Christmas for $35 while silver was at $30. Since the crash silver is say $23.50/oz and you will pay $30.50 for a Silver Eagle. So the premium is now $7 while it was $5 just a short time ago. Larger premium on a lower price!
Buying in phys gold and silver seems as strong as ever. The buy side of paper gold is down otherwise the price would still be up>>>
Weak paper gold&silver demand
Strong physical gold & silver demand
*** the typical coin shop or retail bullion dealer sells the same dollar volume of gold as he sells silver. Eric Sprott found this out by asking them
just went to APMEX site
USA and Canadian gold coins one oz are available at reasonable premium
USA and Canadian one ounce silver are out!! You can place and order and they will be in stock soon. They have very high premium about $7.50 per coin
If someone wants to buy a bunch of silver right now I would get 100oz or 10oz bars. The premium is OK on them but APMEX is out of some of them right now
>> “They have very high premium about $7.50 per coin” <<
.
IOW, they are still selling for $33 / coin. (no significant change in last 6 months)
Gold is unavailable in retail stores presently unless you’re willing to pay $ 1600 / oz.
You can buy gold coins from APMEX easily...at their site or via eBay. So how can the the situation be much worse at retail stores?
$1479 for Canadian Maple leafs at APMEX http://www.apmex.com/Category/21/Canadian_Gold_Maple_Leafs_2013__Prior.aspx
APMEX is low on silver though
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.