Precious metals demand

Not much spare cash, personally

 

I don't sell as much at the moment, more or less just watching the market moves right now.

It's a difficult time to shift metal because people are just not cashed up at the moment.

Then if you have metal that isn't always appealing (like Kooks or fractionals), you're getting 'at spot' at best and even then a lot of sales are taking a lot longer than usual.

It's ironic that metal prices are really good right now, but it's pointless when no one is buying.

 

I traveled 700 miles yesterday to visit my mom in Kansas. There's all the big city coin shops here and I want to check them out but I'm not too hopeful haha. Never know tho, could get lucky!
Doesn't seem like there's much buying lately and from what I've seen there's alot of inventory.
My local LCS had more in stock than I've ever seen in the last decade.

 

Gold and silver are moving, albeit slowly, and people are not keen to pay fractional premiums any longer. Spot AGW is where it seems to be.

 

I think that the reason that real estate is strong, while demand for PM isn't there, is that the average punter still needs a place to live, and with all the recent building company collapses (it's been how few days since the last one did????) an existing house is a virtual gold mine. Plus, when you can borrow 90% of the cost of your house from the bank, even at high interest rates, (personally) I think that it's a no brainer to buy a house over PMs (especially given the ratio of new house builds to net immigration).

Don't get me wrong. I **LOVE** PMs, and don't plan on selling any in the foreseeable future, but when people are hurting [financially], any financial risk they're going to take will be on an asset will be an asset that keeps them off the street. But I'm just grateful that I'm fortunate in the position where I don't have to choose between buying a cheap "pretty" and keeping a roof over my family's head.

 

3100 AUD then. Today at 3300.

 

Good post.... but perhaps SHTF while looming, is not anywhere near us yet. Just a few dry powder practice runs. It'll be a real SHTF situation when there is real anarchy, and desperate people wanting to get from A to B in order to save their real life skins, offer Mr Make-it-happen a few gold coins, a bit of jewellery, or a pouch of real high end gem-stones. Some, unknown to most, are already making it happen. Others, wait for clearer signs before making any jumps to safe havens (where-ever that may be). The ride is only just starting. IMO of course and that's not worth a pinch of sh%t to most people. That's ok. While the sheep mull directionless, it allows the "stray" to quietly sneak off.... before the mutton trucks arrive.

 

I think the volume is increasing, it’s just institutional and not retail volume.

 

Precious metals-Gold in particular showing slow,steady growth lately and reaching ATH.imo uneducated as it is people just putting spare cash those that have it into other assets...crypto especially they've seen huge increase in short time and its worth the speculation/gamble as money goes no where fast while assets(many) at ATH or close VAS $85 now $97 btc 20k now over 100k ETH 1.6k while back now over 5k etc,etc cash unallocated is trash...as even basic necessities rise dramatically

 

From what I'm reading, the retail buying is happening in China and India.

 

When Airbnb is the biggest hotel in the world without a room of its own, Uber is the biggest car fleet without a car, Amazon is the biggest retailer without a shop, Menulog is the biggest restaurant without a kitchen, BTC is the biggest bank without any money; who needs physical?

 

yep, and China can turn that shit off on us as soon as the launch a "military operation". I think it's human arrogance to think that we can rely on the internet at all costs. In times of natural disaster, etc... you can kiss your crapto goodbye.

20 somethings don't even carry wallets anymore, and they laugh at old timers that do. Those that forsake freedom for convenience deserve neither freedom nor convenience!

 

CB and Albo don't care if you can't pay your mortgage, as there are a whole horde of cashed up buyers (including foreigners and FOBs) that will quickly snap up your property if you are forced to sell. They don't care about people that were born and grew up here unless they are multi-millionaire property developers, and have, y'know, actual lobbying powers. "Let them eat cake" is the mentality.

 

The average American can't afford a mortgage anymore without making 150k and perfect credit just to qualify.
The middle class has been completely priced out.

A little bungalo house down the street from my mom's place here in the ghetto just sold for 145k which I never would have thought was possible.
The first house I bought in this neighborhood in 1994 was 28k, same size house and yard.
I'm heading back home to Gunnison tomorrow after a week and a half of visiting and I've had my fill of homeless and tent cities along the Kansas River, not to mention the needles and poop on the sidewalks.
I can't wait to get back to my Shangri-La in the Rockies!
I may never come back here again after this trip unless I have to. My hometown is a total shithole now and has really gone downhill in the last 8 years since I've been here.