$1300

metalmeister · January 25, 2019 9:34AM

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?

coinpalice · January 25, 2019 9:49AM

try 293 oz of paper gold per one oz of the real deal

coinpalice · January 25, 2019 9:56AM

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-

mapleman · January 25, 2019 10:18AM

GO BABY GO!

mapleman · January 25, 2019 10:21AM

I was wondering why Apmex pulled a CGM deal after a couple of hours yesterday. I guess just prescient. NOT

TwoSides2aCoin · January 25, 2019 10:29AM

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)

cohodk · January 25, 2019 10:35AM

@metalmeister said:
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?

Has zero relevance.

blitzdude · January 25, 2019 10:47AM

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.

derryb · January 25, 2019 11:31AM

@cohodk said:

@metalmeister said:
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?

Has zero relevance.

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.

MsMorrisine · January 25, 2019 11:33AM

@mapleman said:
GO BABY GO!

I was just going to make a new topic with those exact words

cohodk · January 25, 2019 11:40AM

@derryb said:

@cohodk said:

@metalmeister said:
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?

Has zero relevance.

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.

Has zero relevance.

ricko · January 25, 2019 12:25PM

Well... a small peak.... we shall see.... been through the roller coaster too many times. Cheers, RickO

MsMorrisine · January 25, 2019 2:11PM

spike ^UP^ near the close

golden · January 25, 2019 2:15PM

Finally.

MilesWaits · January 25, 2019 3:35PM

They don’t but Jim Cramer does. Just trust him. Like in 2008.

derryb · January 25, 2019 6:11PM

@cohodk said:

@derryb said:

@cohodk said:

@metalmeister said:
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?

Has zero relevance.

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.

Has zero relevance.

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.

cohodk · January 25, 2019 6:16PM

@derryb said:

@cohodk said:

@derryb said:

@cohodk said:

@metalmeister said:
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?

Has zero relevance.

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.

Has zero relevance.

Increase the supply of available paper contracts you decrease the price of paper contracts. Econ 101.

Not how the futures market works.

Baley · January 25, 2019 8:02PM

If gold prices go up, i sell some
If gold prices go down, buy some
If gold prices stay the same, hold it.

OPA · January 25, 2019 8:47PM

Great...we're back to where we were in June of last year.

derryb · January 25, 2019 9:06PM

@OPA said:
Great...we're back to where we were in June of last year.

with a bit more weight.

blitzdude · January 26, 2019 4:10AM

@derryb said:

@OPA said:
Great...we're back to where we were in June of last year.

with a bit more weight.

More than a bit for some. Stack on!

MsMorrisine · January 26, 2019 10:28AM

sold my added weight. I flip a lot.

mapleman · January 26, 2019 11:08AM

I came close to selling. I'm looking to Monday with fingers crossed.

@MsMorrisine said:
sold my added weight. I flip a lot.

renman95 · January 27, 2019 7:35PM

I bought smoe paper GOLD (Barrick) last week. AND, it has a 2.38% yield.

PerryHall · January 28, 2019 12:03AM

@renman95 said:
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.

renman95 · January 28, 2019 3:26AM

@PerryHall said:

@renman95 said:
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.

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.

TwoSides2aCoin · January 28, 2019 8:14AM

Pay no mind to silver and copper. Will this level hold ? Is this the new floor ?

Invest wisely.... on/in paper.

derryb · January 28, 2019 8:58AM

@PerryHall said:

@renman95 said:
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.

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.

metalmeister · January 29, 2019 10:25AM

Wow, over 290 paper ounces for every actual ounce of Gold. I was way off. Thanks for clarifying.

cohodk · January 29, 2019 11:38AM

@metalmeister said:
Wow, over 290 paper ounces for every actual ounce of Gold.

Thats like saying its cold in Chicago today.

Baley · January 29, 2019 12:00PM

Or like it's sunny in So Cal.

mapleman · January 29, 2019 1:39PM

@mapleman said:
" GO BABY GO!" W.J. Clinton to

   "POW ZOOM RIGHT TO DA MOON!" Jackie Gleason to Alice

derryb · January 29, 2019 1:42PM

@cohodk said:

@metalmeister said:
Wow, over 290 paper ounces for every actual ounce of Gold.

Thats like saying its cold in Chicago today.

no, it's like saying it's -284 degrees in Chicago today. Paper temperature vs. real temperature. lol

$1300

Comments