Dealers, last week more buyers or sellers of PM
Planchet
Posts: 294
Hello,
to all of you that are dealers, last week did you encounter more buyers or sellers of PM? I was told by a local dealer that when gold crossed $1200 he saw more buyers than sellers, but as the price dropped, it switched to more sellers than buyers. Your experience?
to all of you that are dealers, last week did you encounter more buyers or sellers of PM? I was told by a local dealer that when gold crossed $1200 he saw more buyers than sellers, but as the price dropped, it switched to more sellers than buyers. Your experience?
0
Comments
Before I had my store I used to observe this same phenomenom at other shops gold makes an aggresive move up, and people come in to buy no matter what the cost. Then a correction ,and they fly into sell.
Last week , I had buyers coming out of the woodwork to buy (couldnt keep gold in the store, what little came in, was scooped up quickly. I couldnt get enough in the door to satisfy demand. Fast foward one week, after several down correction days, the $100 price drop, people were coming in the door selling in large quantities(at least for my area) so much was coming in, I had to ship it out becuase the buyers that were buying up the week before, were no where to be found or selling back this week.
I love to see good price corrections becuase I know it will help stock the store in gold the next few days afterword.
Jim
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