Discussion in 'Gold' started by JulieW, Apr 24, 2020.
Sound advice there hubber, and welcome to the forum!
No drama at all. You could probably count on the fingers of one hand the number of threads here that stay on topic!
Speaking of fingers, I bought these fish fingers from .......Whoops!!
Won't go there
Ebay gives a pretty good indication of demand. Genuine sellers are selling 1oz .999 at average $2580 currently (below spot with shipping and insurance).
IMO silver was the better place to be after a market crash and Ebay is indicating growing demand. Physical silver purchased in April is being flipped for up to 30% return in late May/June.
Oh come on Lunar! That was one seller from Bendigo selling 4 x 1 oz roos yesterday using the same illustration for each,
highly suspect in my opinion, I just hope that the buyers have not done their money with fakes or non existent coins.
Although the seller had a 100% positive feedback, all the feedback that I saw was as a buyer not as a seller.
I would not bid under those circumstances, nor would many other genuine buyers.
So, that is probably why his coins sold for as low as they did.
That does not give an accurate indication of current demand on eBay!
There was another sale yesterday of 1oz gold coin from US which when factoring in gst came in at over $3300 Aust dollars.
That was average price of about 9 oz. Demand is weak and $3000 is a pipe dream while money is flooding into the Australian dollar. I *could* buy a dozen 1 oz roos at lunch for $2660 a pop. I would rather wait.
If you want to buy suspect 1 oz roos for $2500 from an eBayer who has not got feedback for selling
even one gold coin, and then has four for sale at the one time, then knock yourself out.....
Lunar, I suspect by some of your posts on here that you are a disgruntled former member with an agenda,
if that is the case, I won't bother replying to your posts any more.
No agenda except perhaps as devil's advocate. Calling for $3000 only benefits those holding gold. I have been watching stackers stack silver when it was obvious gold was the better option and now I'm watching them sell silver for gold when it seems obvious to me silver is the better option.
It should be reasonably easy to find gold under spot and silver $1-2 over in Australia at present. Perth Mint has been pumping out 1 oz roos and kilo bars by the tonne.
Any thoughts or comments on AUD strength? Last few weeks taken it almost back to level of this time last year against USD
AUD might be tracking copper. China is hoarding copper. You need copper to build aircraft carriers, tanks and drones. All the trade bans for are food. Doesn’t matter if the peasants starve. There are too many of them anyway.
China still seems to be hoarding iron ore too.
Here’s more on this as well as a few other possible reasons for the high AUD - https://www.abc.net.au/news/2020-06...surges-on-iron-ore-economic-optimism/12312542
Gold down by almost $20 AUD today .... is it the dollar effect or the pull back before spike ........
Down by $50 AUD in a day. . . .
good thoughts- I just read that iron ore is back at all time highs and China is still hungry for Aus ore which is pushing the AUD higher. Other than that Aussie economy not looking too flash for the short/med term so will be interesting to see what happens.
USD sinking in value.
Sinking further . . . $2475 per ounce .
Let's see what the new low
Now $2440 only. .. .$^@*$&@*@^!^
If USD were to sink, then gold should rise. Or is it AUD rising?
Aud rising. USD dropped a bit but not as significant as AUD demand due to commodity demand spike (China)... from what little I read and see anyway
Yes and ironically, it happened when China imposed restrictions and bans on Australian meat and barley imports. I think it might simply be the case of reduced supply (due to covid affecting many countries). This is a typical diversion tactic to confuse your opponent, same as the plague.
Unlike software and services, manufacturing needs raw materials. China is more vulnerable than most people think. Australia actually has had the upper hand all the while.
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