With the recent spike in metals...
Skrill90
Posts: 264 ✭✭✭
I was hoping to see more participation and activity and interest regarding precious metals, but it seems to be lacking this time around compared to the early 2010's spike.
Have you noticed any increased interest?
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Lots of sellers few buyers. At least on the dealer side it seems that way. We didnt bring any 90% to the ANA and left with quite a few bags.
Here's a little story about Jack and Diane...
Liberty: Parent of Science & Industry
All the people lured into metals in the 2010-2011 runup now want out. Every dollar gold rises, a thousand more people will want to sell, not buy.
Yet rising prices tell us there are more buyers than sellers
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
No.rising prices mean more ounces bought than sold.
You do understand the distinction.
Liberty: Parent of Science & Industry
Here we go again... buy high, sell low.... Cheers, RickO
Actually, no. The paper futures markets move prices. You and me buying gold at the local coin store mean nothing.
It is the paper markets, not plumber joe types rushing to the coin stores because they read that gold prices were rising.
Yes, the paper market is the major mover.... but Joe plumber sees it and buys some... Not a market mover, but a lot of bullion is sold this way. Cheers, RickO
I didn't say physical ounces.
Liberty: Parent of Science & Industry
And you were the one talking about people lured in that now want out. Were you referring to the big brokerages and their wealthy, sophisticated clients?
Liberty: Parent of Science & Industry
Yes, people who bought in the mania of 2010-2011 want out. I was referring to everyday people, who went and bought gold and silver when it was peaking. Where did you get the "brokerages, wealthy or sophisticated clients" from? Not my words.
If I recall Baley, you yourself have lamented about buying high and being stuck in metals. That has changed?
Nope, did most of my buying 1999-2004, with stock market profits.
Liberty: Parent of Science & Industry
I've lamented not selling every damned ounce in 2011, and not putting a pool in the backyard with some of the money
Liberty: Parent of Science & Industry
Most of us who went through the 2010-2012 run up and even the most recent one with all the hype, have learned to ignore all the hoopla along with the current round of "forum cheerleaders"..
Yea pretty soon this hallowed ground will be the place they want to do brain research on all the ol cheerleaders, much like the nfl...,
The run up isn't US driven which is why we don't feel it in the US physical market demand. Capital flight out of China and most of Europe is the cause. Negative rates may be our future as well. In that case, we'll see a very different attitude. No reason to unload now anyway.
If an individual needed funds for some special reason, it would certainly be a good time to sell....holding for the top of the market has lost money for many people. Should be an interesting time in PM's for a while....Cheers, RickO
Plumber Joe is ignorant of economic issues and worldwide debt. Let him stick with his pipes.
I liquidated all my silver during the 2010-11 sunup. Averaged about $43 an ounce sold with an average purchase price of $18 an ounce. Only regret wasn't buying and selling more. That money changed my life at the time.
I went in to Monarch Coin in SLC right when gold was first crashing the gates at $1500. I was selling, most others were buying. I overheard the reps explaining about gold bullion to a few ignorant, but earnest prospects. "These are called Eagles, those are called Buffalos, they have one ounce of gold."
Any person that doesn't know every damned thing about gold (or silver) bullion, purity, weights, spreads, taxation, bullion types and issuers when they go to buy is a "plumber joe".