Discussion in 'Gold' started by 2nd_Hand_Gold_Man, Mar 24, 2020.
That reduces the blood pressure
Not sure what this means. Maybe Russia intends to sell gold instead of oil? But even if so, why bother to announce you're stopping the purchase of gold?
Central banks selling gold means prices going up.
I don't think the Russians can afford it atm with crude dropping to $20 and ruble devalued by 20% against the dollar. Wise wise move by Russia backing up the truck with gold given that the ruble lost so much value against the dollar.
Yes, true, but that $100+ billion worth of gold isn't that much if you divide by the number of Russians. Even assuming it's worth $200 billion, there are 144 million Russians, each person only has $1400, which is nothing, can't even buy a good laptop.
At the national level, everything looks great in absolute terms but when you divide by the number of people, it's actually very little for each person.
Doesn't really matter. It's not like the government is going to divide its gold stores among its population.
Those gold stores will only ever help the elites.
haha, you made a good point, I was being naive.
Tim cooks also has $200 billion - https://www.cnbc.com/2020/01/28/apple-q1-2019-cash-hoard-heres-how-much-cash-apple-has-on-hand.html
The multinational corporations hold much more cash, probably tens of trillions combined, if you include private non-public conglomerates, more than any country, and they are the real master.
Gold down to $2591au then will begin to climb again on the 1st US stimulus give away. Beware of gold on the 2nd give away.
EDIT: when 1st stimulus is in the hands of the public.
Don't ask me why............
Any left for them to buy?
We should note it is from April 1, aka April Fool’s
Well - finishing the week off at $2700.
AUD was on a slide down this week
The spot price is so out of wack it's dang meaningless to those who want to buy physical.
The current situation, makes the last metal bull run a joke; this new bull run is still in the change-rooms.
The next major stock-market crash is probably going to drag down everything, imo, you'll have bugger all chance obtaining cheap physical metal unless you have contacts, which, most folk don't.
If anyone wants to be on my spotters fee list, please PM me.
That was a joke, do not PM me.
Too late to withdraw now... yer inbox will choked
Bullion Now has sold 90 1oz bars in 1 week.
Thats approx $5500 spread profit in 1 week
Hardly profit. Imagine the overheads on a city office with staff and secure storage. Imagine the hedging requirements.
Thats just 1 oz gold spread profit. No wholesale spread included, no other size or other metal include.
Right, but if you want to call that 5500 clear profit you need to account for their other sales and overheads. That 5500 is simply spread. Does $60 per oz of gold seem like an excessive spread to you? I'm used to paying $45-50 over spot for low premium cast bars, so in a time like this I'd hardly call $10 extra an Oz an excessive increase considering their buyback price has also increased. With the way gold is going I am actually paying closer to $100/gram for the items im chasing.
seeing you mentioned buy back price.....................can you see it on their website?
I bet they wish that was their "profits" on those deals!!!
Either way, good luck to them. Gotta make hay while the sun shines!
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