Hi all, A quick introduction and some news I found interesting that I would like to share. I have been a stacker for about a year now and hanging in there despite the recent rollercoaster ride. Been lurking around this forum just reading for about a month and with what I just saw I thought I must join in and share this. I notice Bullion Bourse, who I deal with regularly, are now asking $1760.00 an ounce for gold but the silver price is still much the same. Is this the beginning of the paper/silver disconnect? I have not yet noticed whether other dealers have also increased their prices but I would think it unlikely that BB is courageous enough to act alone surely.
Ah, very short lived. Sorry folks,move along now, nothing to see here.:| I should have known not to get exited but it's been so dull since the last fall. Good thing I am not in charge of a nuclear armed country. Just imagine what chaos a small error like that can cause.
Ha! I bet you were talking about this http://bullionbourse.com/index.htm#!/~/product/category=584925&id=17093905 Not quite an ounce
No, the prices were across the board. All the BB gold was priced at around $1760.00. Perth Mint, NTR etc. I first noticed this with the 10 gram Perth mint bar at $580.00. As soon as I panicked and bought a heap of silver in case it sky rocketed too and then posted here the prices returned to normal. BTW, Should I change my name to "boy who cried wolf"?
Wayne? No, that's my brother, Wayne Curr. My name's Dwinn.... I'm so embarrassed. Not a good start eh? It's some sort of conspiracy, putting up a false price and then changing it before anyone else sees it but still a true story. Those prices were up for about half an hour that I was aware of and covered all their gold products. I wonder if this is some nefarious future plan that was accidentally released early? Anyway, time to take my medication. *Adjusts tin foil hat.*
Damn, you weren't supposed to see that - your house must have been *directly* under a chemtrail at the time.
Was that your gold and silver drone dumping chems on my survival veggie patch? Damn, I knew it! Those evil bullion dealers are all in cahoots. :
i have noticed premiums slowly increasing 2 month ago premium per coin $4.63 6 days ago premium per coin $4.97 today premium per coin $5.04 so over the past 2 months premiums have been increasing about 0.07c per week per ounce
It's when you can buy something cheaper on one market than you can sell it for on another market. The profit (price difference) is arbitrage. e.g Buying bitcoins on btc-e.com might cost $120. If I can immediately sell them on Mt.Gox for $130. I've made $10 in arbitrage.
1) Purchase future paper contract for X 2) Stand for delivery 3) Sell phys for X + whatever massive premium exists at the time 4) Profit Increase in future contract purchases drives UP price in paper Extra phys on the market drives DOWN phys price Equilibrium Breaks down if they refuse to let you stand for delivery
