$1300
metalmeister
Posts: 4,586 ✭✭✭✭✭
Gold getting frisky today. Paper holders demanding delivery? I read some where years ago that there is some thing like 100oz. of paper Gold floating around for every Oz. of Gold that actually exists. Any one else chime in on this?
email: ccacollectibles@yahoo.com
100% Positive BST transactions
100% Positive BST transactions
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try 293 oz of paper gold per one oz of the real deal
in 2015 that was the ratio
https://www.zerohedge.com/news/2015-11-04/there-are-now-293-ounces-paper-gold-every-ounce-physical-comex-registered-gold-hits-
GO BABY GO!
I was wondering why Apmex pulled a CGM deal after a couple of hours yesterday. I guess just prescient. NOT
Breaking through would be nice, but there's that resistance. A sign of "controls", and probably for the benefit of us all. ( except for stackers)
Has zero relevance.
Knowledge is the enemy of fear
Much more paper than physical. If you don't hold it you don't own it. Needs to push higher and have a solid close above $1300. $1305-1310 would be fabulous. Stack on.
The whole worlds off its rocker, buy Gold™.
Increases available synthetic gold supply by a factor of at least 100X. Since spot price is based on synthetic paper price it has complete relevance, unless of course you don't believe supply should be in the price discovery formula.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I was just going to make a new topic with those exact words
Has zero relevance.
Knowledge is the enemy of fear
Well... a small peak.... we shall see.... been through the roller coaster too many times. Cheers, RickO
spike ^UP^ near the close
Finally.
They don’t but Jim Cramer does. Just trust him. Like in 2008.
Increase the supply of available paper contracts you decrease the price of paper contracts. Econ 101.
Decrease the price of contracts you decrease the spot price. Law of gravity.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Not how the futures market works.
Knowledge is the enemy of fear
If gold prices go up, i sell some
If gold prices go down, buy some
If gold prices stay the same, hold it.
Liberty: Parent of Science & Industry
Great...we're back to where we were in June of last year.
with a bit more weight.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
More than a bit for some. Stack on!
The whole worlds off its rocker, buy Gold™.
sold my added weight. I flip a lot.
I came close to selling. I'm looking to Monday with fingers crossed.
I bought smoe paper GOLD (Barrick) last week. AND, it has a 2.38% yield.
Can your paper gold be converted into real physical gold? If yes, how hard is it to do and how is it done? I've never bought so called paper gold and was just wondering if it's the real deal or just a scam.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Shoulda been more clear, I bought stock in a company with the ticker, GOLD, aka Barrack Gold. There's no conversion into physical metal but it does pay a dividend which I find amusing because we've heard it here a million times that gold doesn't pay a dividend....I know that the comment is reserved for physical gold, but still, amusing.
Pay no mind to silver and copper. Will this level hold ? Is this the new floor ?
Many kinds of paper gold. The ones you want to avoid are the ones where someone else sells you gold but they "store" it for you, either in an allocated or unallocated account. Storage is required for a precious metal IRA. Precious metal stocks, such as the gold miners, and ETFs, via a reputable on line stock broker, can be a good way to invest in metals without dealing with the time and expense of transferring ownership. There are no storage logistic concerns and with them liquidity is fast, cheap and easy.
Note that the futures market where limited players can participate is referred to as paper gold as well. I consider the futures market, because of its very high leverage (amount of paper "contracts" vs. more than 100X less amount of physical metal in storage to back it up) to be "synthetic" gold. Unfortunately the futures markets determine the spot price of precious metals, which we all know sets the base price (plus any premium) for physical metal. If spot price discovery were based on supply/demand of the much less available physical metal it would surely be higher.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Wow, over 290 paper ounces for every actual ounce of Gold. I was way off. Thanks for clarifying.
100% Positive BST transactions
Thats like saying its cold in Chicago today.
Knowledge is the enemy of fear
Or like it's sunny in So Cal.
Liberty: Parent of Science & Industry
no, it's like saying it's -284 degrees in Chicago today. Paper temperature vs. real temperature. lol
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey