A bit late to the board, but a post in another thread got me thinking: Do bullion dealers have end of financial year sales where the premiums over spot are discounted ? And would there be any particular day of the last week of the EOFY that would be better to save on premiums ?
Interesting Question. Bullion dealers typically hedge any sales by purchasing more bullion from their sources as soon as possible to avoid being caught by a spot price movement. So if you see EOFY sales (or sales in general), it is a sign that they are particularly overstocked in a specific product or they are quitting unpopular product. This fact may have been highlighted to them in their EOFY stocktake. Alternatively they may be hedging with paper contracts, or maybe they simply have a cash liquidity situation to resolve. Could just be an opportunity for a marketing exercise. Who knows. As long as you are getting cheap bullion that will be relatively easier to resell, who cares?
