$2800 Gold

Discussion in 'Gold' started by slavaja, Mar 9, 2020.

  1. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    This is still time too buy!
    Trumpty Dumpty No Gains is pumping multiple trillions into the markets trying to do his little keynsian best to reinflate the fakeness, wont work.
    The best part of him ran down his mommas leg.
    He gave a pathetic speech yesterday, bumbling along tripping over words and you could hear he was very very uncomfortable as he should be.
    Blaming the falling markets on covid and other lies, but you can hear it in his voice that hes losing heart. The lies are compounding so much now that hes having a hard time holding them together.
    However sadly he didnt mention how he was going to pay off our debt, drain the swamp, rid of us the poison obamacare, put hilldabeast in court, none of his campaign fodder.
    I cant imagine what he will run on this election. Theres nothing else he could promise except more of the same failures.
     
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  2. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    More of the same from Reuters. https://www.reuters.com/article/hea...vestors-snap-up-precious-metals-idUSL8N2BH5HM

    Some sellers are seeing a ten-fold increase in sales of gold bars, coins and other pieces as existing buyers increase their holdings and newcomers enter the market.

    Banks too are seeing a sharp rise in demand for other precious metals, including silver, as well as smaller investments like 20 or 50 gram gold combibars which look like credit cards and can be divided into 20 or 50 squares.

    “The physical demand for gold at Zuercher Kantonalbank is currently enormous. All available products — bars, coins, etc — are in demand,” said a spokesman for the bank.

    “The high demand for silver bars is also astonishing.”
    --
    “We are in principle completely sold out. You can already say that,” said Philipp Bachofen, from Geiger Edelmetalle in St. Margrethen, close to the border with Austria.

    “In the last few weeks, it’s all about getting gold,” he said, adding there were many smaller customers buying smaller bars while the bigger customers tended to favour 250 gram bars.

    Supply has tightened as gold refineries in Switzerland reduce production.

    “This has brought additional stresses to the system,” said Andreas Habluetzel, CEO of precious metals retailer Degussa Goldhandel.

    “For us, the demand increased tenfold last week, but we have a stock of several thousand bars,” he said. “So I expect we will be the last to go out of business.”
     
  3. Jason1

    Jason1 Well-Known Member

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    I got to admit this is confusing as hell. lol
    So the spot prices are irreverent on all physical precious metals? WTF lol
     
  4. heartastack

    heartastack Well-Known Member Silver Stacker

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    for a system to collapse it has to be about as corrupted and nonsensical as this one is shaping up to be
     
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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    The LBMA has finally broken. They cannot supply enough physical for comex redemption. People are willing to pay to ensure they can redeem physical.
     
  6. JS1880

    JS1880 Active Member

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    Does anyone know what website has the right gold price?
     
  7. JulieW

    JulieW Well-Known Member Silver Stacker

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    The thing is that up til now he's had a cakewalk. Lots of talk and politics and plenty of time for golf. Now, as the trite cliche goes ''It's all about to get real''.

    He's about to discover that he's the one that makes the decisions that can, and possibly will, cost a million or more lives. This isn't a face saving bombing of a few planes and tin sheds, this is decisions that are extraordinarily important and which have consequences that rewrite history books, and he's the decider.

    I don't think that Trump is a psychopath, which in his job is a disadvantage. If Hillary was in charge your FEMA camps would be packed with potential Covid cases by now, or she'd be happily helping Covid winnow the deplorables and clear the homeless out of LA.

    With the options being old man Biden or old man Trump, well Covid19 might sort that race out also.
     
  8. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Yes, ask me :cool:

    If you're selling.... I give you veeery special price... no wurries
     
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  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Kitco is good to go now
     
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  10. JS1880

    JS1880 Active Member

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    Thanks mate
     
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  11. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    The other angle to look at this is that there's ample gold, it's just in the wrong place and in wrong size. According to some sources it's Comex futures that carry the premium, compared to OTC spot. (For us small fish this is of course a different game altogether compared to what is available in the Local Coin Shop...)
    ET7-kw8X0AEImNk.jpg
     
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  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Heard on the grape vine that multiple buyers attempted to close out their futures for physical and LBMA was scratching bottom of the barrel pulling out bars that were decades old. Not even sure thats how the system works, just my anecdote.
     
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  13. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    Heard the same. Also heard they are changing the Comex delivery requirements and planning to launch new futures contracts to allow LBMA bar size.
    Roy Sebag of Goldmoney is opining that whatever the case if the CV situation drags on London would run out of gold in June. Speculation of course, I'm not hinting at any conspiracy theories here.
    ET6FZhGWAAQ2sWO.png

    Screen Shot 2020-03-25 at 10.28.19 am.png
     
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  14. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    Gold spot aus escalated so quick...we may see 3000aud sooner than later .....
     
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  15. JS1880

    JS1880 Active Member

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    Does anyone know what the current premium is on new 1 oz gold coins at dealers like bullion now?
     
  16. slavaja

    slavaja Well-Known Member Silver Stacker

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    Spot at $2666
    Screenshot_20200325-222644.png
     
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  17. JS1880

    JS1880 Active Member

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    Thanks mate. Premiums have shot up. Hopefully not the new standard.
     
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  18. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Spot + $120 for low premium. Spot + $170 for premium. Insane.
     
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  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Demand is through the roof. If you're after anything low premium text me I might have a source in Western Suburbs, just waiting on a quote from him.
     
  20. JS1880

    JS1880 Active Member

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    Jesus
    That is insane mate
     

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