Hey Stella any chance you can record your videos a bit louder ? the last few ive watched i can barely hear it.We can always turn you down. Just a thought
I wonder if they'll also be so anal about identifying whose buying... edit: i've just answered my own question by having a look at their site. nothing there for the private investor. can only buy if a bullion broker...
ok - had a quick look and there's nothing in there for private buyers. if you're a "bullion broker" you're in... not sure what it entails to be classified as a bullion broker? Boss - you're one now aren't you? i guess being one will enable you to purchase physical at spot via this new exchange?
I feel I would be more excited if I knew more about what this means to me as a sometime buyer. I look forward to further education. I probably can't buy anything directly, fine! So I would need a broker, I am sure someone here will act in that capacity. If I buy it at spot does that mean I cannot take delivery of it unless I pay to have it turned into bars? Will premiums just be replaced by broker fees? Do you take delivery or just buy and sell it electronically (but at least you know it exists) I look forward to being more excited!
Theres nothing to get excited about insofar as buying - you wouldn't normally buy from the comex if you were in america, so you wouldnt normally buy from here in australia. but the thing to be excited about is that this is 1:1 physical exchange... unlike the 20-40:1 comex exchange and other paper markets. and its good for brokers to be in on the cut... lets face it - brokers arent in business for nothing and they want commissions - well - now they can get commissions for offering physical gold silver. so dont be excited about using this for buying... but be excited for the demand for physical that will come from this... the more physical owned means the more valuable your physical.
Will this have any effect on the funds that would normally have flowed into mining shares or is it a totally different market of investors?
This does offer the ability to buy silver basically at spot price without premiums. Is this using futures contracts? if so then it sounds good. If there is no leverage offered by the brokers then i suspect its not going to be a easy sell. I think its quite exciting for one.
This is exciting news. It will be interesting to see if they can get the contract volume up to levels that will effect the market overall... But I "dips me lid" to all involved in this enterprise. Go well. ST
No I think its the same area of funds that would otherwise go into the miners. This exchange is dealing with the institutional investors or high net worth investor... its been easier for brokers to sell mining shares to make commissions than physical.... until now...
If this is based on real physical, do they actually have to buy the physical and store it in a vault equivalent to the purchases?
So I assume the gold and silver would be sorced from Australian mines? Sounds good - hope the fund managers catch onto this! The more pms that are bought and stored the more stable the price of pms should be.
Watched a vid recently on goldsilver.com (it may have been David Morgan or one of the GATA guys) about how share prices havent kept up with the rise in the underlying commodity. His suggestion was that previously investors either invested mostly in shares or physical, but recently ETF have grown in popularity with the "smaller investor" and syphoned funds away from shares.
OK, please educate If the current spot is set in NY or London, and supposedly most of the contracts are settled not by taking delivery, but for cash, wouldn't anyone who really actually wants to take delivery be buying from ABX instead (or any equivalent exchanges that are fully backed) ? Because this/these exchanges are actually backed by the metals. Leading to my question is if everyone who truly wants to take delivery then heads for the ABX, and so is going to drive the price up (spot) which maybe different to the spot in the overseas market? Is this scenario possible? Would ABX's transactions reflected onto the global spot prices? Hope these are not dumb questions as I am still learning...
