Home› Precious Metals

A question of perception.....

CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭
in Precious Metals
As coin shops open their doors on the East Coast this morning, gold is up over $20 from the previous day's close, but down $40 from the overnight high.

What will the customers perceive it as? Is it up, or down?

TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • Coins101Coins101 Posts: 2,602 ✭✭✭
    Well, the stock market is currently up though it seems they are looking to the Fed's for some direction. So, I would say some will think gold may have peaked and may start selling to get their profits.

    I believe this gold run is what has caused silver to do what it has - just sit there or go down. I think people were dumping silver and buying gold thinking it was the way to make a better profit. Gold has a big number but having big number, the percentage gain is small.
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    Planning to hit my store today for some silver. Couple bucks down from last week works for me.
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    Good posts. The interesting thing about being "tuned in" to the precious metals markets is that you get to develop a feel for relative values, and can take advantage of disparities between them - even while the trend for all of them is still decidedly up.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭
    I think many stores may just pull their gold and silver bars/coins off the shelves and put up a 'out of stock' sign, for the time being.

    See what happens when the dust settles.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • Coins101Coins101 Posts: 2,602 ✭✭✭


    << <i>I think many stores may just pull their gold and silver bars/coins off the shelves and put up a 'out of stock' sign, for the time being.

    See what happens when the dust settles. >>



    Pull the breakers like APMEX did?
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    So I hit my shop today and shot the shizts with the guy. He said nobody has been in, either selling or buying, since last week (wed) after I came in. Said he's scared to hell with the gold shot and isn't buying at all. I did notice his old cert gold wasn't repriced, told him about the window for AGE proofs below the bullion AGEs today before that shut down, he didn't know.

    He had silver from last week that I looked at, gave me a $2/oz over on 10z bars that I asked about last week, at a loss for what they walked in at. Couple of art bars but I didn't want them (is there interest in a Coors 10oz from Sunshine?). Wound up working on my 90% rolls and bought a bunch of halfs and a few slq's at prices that were way decent enough for me (less than I paid last Tues).

    I think he was happy to have the business definitely on the silver. Did say he was surprised it was going down the past couple days but figured folks might be shifting to make calls or hitting the goldwagon. He knows I'll be in for my allotment, so I think I got a tad more of the honest thoughts than he'd say to other folks.

Sign In or Register to comment.