What happened?
northcoin
Posts: 4,987 ✭✭✭✭✭
Gold
$1,207.60 (+18.90)
10-02 11:19 AM EDT
1
northcoin
Posts: 4,987 ✭✭✭✭✭
Comments
And probably more to the point, did those of us who failed to get on board in the last few weeks when gold was significantly lower miss a buying opportunity as we waited to see just how low gold would go?
I didn't miss out.
Gold is just 3.8% above its recent market low (seemingly Aug 15). That improvement from the recent bottom was relatively slow. And gold had been very close to today's price as recently as September 20.
Don't focus on the dollars, focus on the percentage change.
There are lots of people who will be dumping gold all the way back up.
I may be looking at it wrong, but I don't see anything significant about a $20 move with gold at $1200.
I'd have to buy 10 ounces at $11,800 and sell it with no costs at $12,000 to make $200.
Now if there was a $100 or $200 swing in the price, maybe I could make a small amount. Buying last week or this week doesn't matter IMO unless you're able to spend hundreds of thousands of dollars.
Signed: Small Fish.
Your point is good, but those who "invest" in commodities generally purchase options (puts and calls) which is obviously a whole different ball game when it comes to the multiplier effect.
The "Multiplier effect" is good until it is NOT good.
Between U.S. naval action in the South China Sea and the Straits of Hormuz, the world market may be a bit rattled. If you meant "what happened" as what was driving buying activity. It's also the beginning of a new fiscal quarter.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Someday....somewhere.... when you least expect it.....
Candid Camera is gonna take a movie of people starving in the streets and eating carrion because they didn't have gold.
Not much but a good pop for a day.
Hoard the keys.
HEY!
Nice to see a little recovery.
My YouTube Channel
Conservative websites tend to overplay the 'confrontation' stories just as much as Liberal websites ignore such events.> @topstuf said:
This is perhaps a much more complicated subject than you think.
Look at Venezuela. I recently saw a two photos of a small shopkeeper (grocer) in Venezuela. The first was taken in more prosperous times, his store shelves were full and his belly was big. The second was in early 2018, in the same pose in the same spot, and all his shelves were empty except for three lonely jars of some slightly suspicious yellow liquid. I would like to think the jars were honey, but I doubt it in some ways. He was much much thinner and he stated that he had lost almost 15 kilos.
No photos of carrion eaters from Venezuela. I have heard of truckloads of live cattle being attacked, way-laid and the animals killed on the spot.
If we ever get to hyperinflation here, you can only work with very small gold coins and smaller silver coins. The reason for that is that you simply cannot get the truly necessary large amounts of cash during most hyperinflation. Currency production always seems to run behind the realities of runaway inflation. If you have large gold coins, nobody can seemingly come up with the vast amount of domestic banknotes required so you can't convert at anything like "full" values. And that is if you don't get taken away and shot for being a rich, law-breaking bastage.
So goes oil so goes gold.
"A dog breaks your heart only one time and that is when they pass on". Unknown
Just bought home heating fuel today $2.64 a gal, with a discount and there's no real demand for it yet, at least not here in CT.
I wouldn't focus on gold. One data point against a lot of other things. Look at the Dollar. Look at U.S. treasury yields. Look at the stock market.
All comments reflect the opinion of the author, even when irrefutably accurate.
Have some dumb questions for the experts:
I have an opportunity next week to purchase 25 OZ of gold in 5 OZ authentic bars from a very secure and reliable source. (there may be more I was told by the niece of the owner, plus a whole lot of silver bars and rounds and Dollars. It is all legit. the lady was giving her nieces and nephews gold bars every year for x-mas.
1 what margin in relation to spot would you guys need or calculate when buying?
2 would you buy it all at once or 2 weeks apart.
3 would you flip it right away or hold it for some time?
this is an actual event happening next week and I have NO competition.
And, I am not into bullion at all. It is coins for me.
thanks for your advice in advance
BST'ing is a trade. Not much has changed, except for hands.
``https://ebay.us/m/KxolR5
Figures,
Had a bunch of scrap and gold coins and stuff this am. Was at the refinery at opening this am at 7. Sold it all, on the way home, I saw that it had fell 5 bucks, I said, picked a good day to unload it. well later in the am, when somebody comes in to sell, I realize it turned and shot up 17 bucks. oh well
jim
Dealers make $50 to $75 per ounce on coin. Frankly, 2-3% is pretty typical on bars. Definitely no more than 5%. Any more than that and you are ripping them off.
personally, I would be VERY careful with bars if you don't have a gun. Best bet is to make friends with someone who has a gun. No matter how "legitimate" the current owners are, people buy fakes by accident. Given the slim margins, even if you make $75 per ounce on 20 good ounces (4 bars), one fake bar will cost you far more.
All comments reflect the opinion of the author, even when irrefutably accurate.
Www.kitco.com carries good commentaries. The word this morning was that gold was up due to negative reactions to the huge jump in the U.S. Deficit.
Be careful. I worked for two large dealers in Chicago for about 25 years and bought in literally thousands of ounces of gold bars in that time. Very little of it was in five ounce bars. Not a popular size.
Not saying they are not out there. Not saying the giver did not have a thing for that size (size matters!) Just saying it is a small red flag.
What brand are they? Poured or stamped? Are they in hard plastic shells, plastic sleeves, or what? Most fake one ounce bars are in hard plastic shells to disguise the heft.
Google tungsten-filled gold bars. There were some 10-ouncers that popped up several years ago. Five ouncers are possible.
Not big enough swing for me to miss
I did get one on spot for DC re-strikes 
Bars over 1 oz have less liquidity than other sizes.
Virtually NO retail demand.
Bullion coins are the best way to buy gold!
That’s hard to believe .
We’ve had a rising deficit for a long time .
I wish it was true because if was that would put gold on a sustainable upward trajectory.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
CTA’s largely use futures contracts
The upward tick, while interesting, is not significant... it has happened before...and it will settle back again... Until a trend is established, there really is no need for excitement. Cheers, RickO
A small tick downward this morn. What ricko says; be patient.