$3000 GOLD WITHIN 2 WEEKS ?? YES OR NO ??

Discussion in 'Gold' started by 2nd_Hand_Gold_Man, Mar 24, 2020.

  1. openeyes

    openeyes Well-Known Member Silver Stacker

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  2. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    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?
     
  3. JulieW

    JulieW Well-Known Member Silver Stacker

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    Central banks selling gold means prices going up.
     
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  4. slavaja

    slavaja Well-Known Member Silver Stacker

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  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    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.
     
    Last edited: Mar 31, 2020
  6. SuprmeLeadr

    SuprmeLeadr Member

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    d
    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.
     
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  7. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    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.
     
  8. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    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............
     
    Last edited: Mar 31, 2020
  9. Lustre

    Lustre Member

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    Any left for them to buy?

    We should note it is from April 1, aka April Fool’s :)
     
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  10. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    Well - finishing the week off at $2700. :cool:
    Screen Shot 2020-04-03 at 10.23.32 pm.png
     
  11. heartastack

    heartastack Well-Known Member Silver Stacker

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    AUD was on a slide down this week
     
  12. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    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, :confused: o_O 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. :eek:;)






















    That was a joke, do not PM me. :p:D
     
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  13. Ag bullet

    Ag bullet Well-Known Member

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    PM'ed you.
     
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  14. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    ^^^
    Too late to withdraw now... yer inbox will choked
     
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  15. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    Bullion Now has sold 90 1oz bars in 1 week.
    Thats approx $5500 spread profit in 1 week
     
  16. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Hardly profit. Imagine the overheads on a city office with staff and secure storage. Imagine the hedging requirements.
     
  17. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    Thats just 1 oz gold spread profit. No wholesale spread included, no other size or other metal include.
     
  18. 66rounds

    66rounds Well-Known Member Silver Stacker

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    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.
     
  19. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    seeing you mentioned buy back price.....................can you see it on their website?
     
  20. Michael Stevens

    Michael Stevens Well-Known Member Silver Stacker

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    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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