an interesting observation today

Discussion in 'General Precious Metals Discussion' started by silverhair, May 7, 2020.

  1. silverhair

    silverhair Well-Known Member

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    SO today I went down to pick up some maples for my nephew who I started to build a small stack for, oh how I love those coins.

    I picked them up from ABC in Sydney and it was quite busy indeed, had to wait out side in for fact 5 or so minutes. I spoke to some gents waiting in the hall for the elevator who turned out to be making the first purchases , of gold no less. We got talking and they explained how they were afraid of inflation etc...

    Same story when I went inside, new stackers buying gold. One first timer could barely lift his bag for his first gold purchase that was dealt with in a private room. Lovely chap there with his wife who explained to me downstairs he was retired and was tired of his losses so moved his savings and super into gold and BTC.

    Every single person/group i spoke to ( around 6 from memory) were all making their first gold purchases and for the same reason, afraid of inflation and the lies the MSM kept trumpeting....

    I thought this was interesting and worth sharing, let me know your thoughts on this.
     
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  2. LiverBird

    LiverBird Well-Known Member Silver Stacker

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    Sounds like you enjoy a good chat :D
     
  3. silverhair

    silverhair Well-Known Member

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    This is true at the best of times, let alone after weeks of being isolated.
     
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  4. Jason1

    Jason1 Well-Known Member

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    so a guy with a bag full of gold, tells a random stranger he has his retirement savings converted into gold and now has it in his heavy bag? lol

    What a f'n moron lol.

    Lucky for him your honest but damn that is stupid

    they are definitely newbies if they are telling any one who will listen about their purchases lol

    Now, besides that, its very interesting observation that newbies are buying up right now.
     
    Last edited: May 7, 2020
  5. Silverling

    Silverling Well-Known Member Silver Stacker

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    To be honest, the first thing I thought was maybe it's time to get out! You know a bit like when a taxi driver starts giving stock tips it's time to get out. :eek:
     
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  6. silverhair

    silverhair Well-Known Member

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    I was thinking the same thing....
     
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  7. Silverling

    Silverling Well-Known Member Silver Stacker

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    By the way is going to pick up your silver considered essential travel? I saw Police harassing someone at the train station the other day for the same reason.....only for work, go to Doctor, buy food etc. poor commuter looked like he was in another world.
     
  8. silverhair

    silverhair Well-Known Member

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    It is to me :D
     
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  9. Silverling

    Silverling Well-Known Member Silver Stacker

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    Especially with their bloated postage and insurance fees.:eek:
     
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  10. Lucky

    Lucky Active Member

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    I think more and more people are waking up to what’s going on.
    It’s pretty obvious these days.
    People generally are not stupid and are making informed decisions to invest in Gold. This is a good thing.
    There is plenty of info out there explaining debt, inflation, money printing and protecting yourself with Gold.
    I’m happy to hear there were lots of first time buyers. It means the message is getting out there.
    Demand is high at the moment and it’s only going to get higher.
     
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  11. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Interesting that they were all buying gold, even for 1st purchases. Confirms the shift that the GSR has been indicating for ages.
     
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  12. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    Exactly. The GSR is nothing more than a novelty, not a trading signal. Otherwise, all these new buyers would be putting their retirement money in silver. Gold is the #1 safety metal for a reason! And why I’ve been on the record here as being bullish gold over silver for some time now.
     
  13. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Buying gold for the first time at these prices would be nerve wracking. But it might also be a sign of things to come:
    -"Dumb" money entering market: We've peaked
    - Increased Demand: We've got alot more steam left in the gold rocket

    50/50 coin toss at this stage.
     
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  14. l***g

    l***g Active Member Silver Stacker

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    Headline reads ‘People in bullion shop buy bullion’
     
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  15. LiverBird

    LiverBird Well-Known Member Silver Stacker

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    One thing to keep in mind is that ABC have gold in stock..........silver, not so much.
     
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  16. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    What inflation, we are heading into deflation. Can’t see reserve increasing interest rates for years or maybe even a decade though.
     
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  17. Jason1

    Jason1 Well-Known Member

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    ^^^^ yer Id be thinking Deflation is more likely also
     
  18. silverhair

    silverhair Well-Known Member

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    Stagflation.....
     
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  19. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    All SDBs are leased now in SYD CBD and most of them are blocks of SMF bullions... I think Banks' SBDs are empty...

    Staff were looking at me as they were mopping the floor cause of my drools
     
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  20. Davros10

    Davros10 Well-Known Member Silver Stacker

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    Not quite enough for it's own thread, but another interesting observation.

    Just checked the gold and silver charts

    Gold 1701

    Silver 17.01
     
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