This is posted at 1:45 PM CST Sunday Aug 7, (GMT minus 6 hours). Heard about it on another site and checked it out, it's true. If you go to Apmex and select a product, any product and go to checkout, you will get this message in red at the top of the screen: *Attention Due to the uncertainty in the global precious metals markets, we will not be able to accept any additional orders until the global markets re-open in Asia. We expect to be accepting orders around 6:15 pm EST. Sunday August 7th, 2011, following the market open. This is verbatim, copied from the Apmex site. This is also unprecedented. Obviously they expect chaos.
That could only mean the price is due to rise sharply but how can anyone predict that ? Maybe this is just a wait and see though.
Hmmm if they were expecting a drop - you'd close sales? Wouldnt you want to be selling quick as you can?!?!
They were expecting a huge price spike upwards so they closed it probably. Last thing they want is to sell over 1000oz of Gold at $1650 and having to pay $1690 per oz to restock. Just noticed that the bid/ask spread on APMEX's site is huge for Gold, 5 whole dollars. Usually it's within 30 cents.
I guess they called it right - or knew what was coming... $1650 to $1710 in one day then $1755 the next day...
