No Gold Being Sold....

Discussion in 'General Precious Metals Discussion' started by ozcopper, Feb 22, 2020.

  1. ozcopper

    ozcopper Administrator Staff Member

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    No Gold Being Sold....

    I notice there is next to no gold being offered for sale this weekend but plenty of silver.... Interesting. Your thoughts?
     
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  2. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    I guess those holding gold given the recent run up in AUD price are holding to see if more upside come next week (USD gold up , AUD down or combo of both) before deciding if to cash out. Nothing to lose by waiting at present...even if gold did retreat AUD50 an oz early next week, most would still be well in the money thus may cash out only if a correction starts.
     
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  3. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Personally hanging on to gold regardless of how high it gets (potential profit) as I doubt I will be able to afford it by the end of the year. In three months I have only managed to add a single gram to my stack.
     
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  4. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    I have a couple of reasons personally,

    * I’m too heavy on my G/S ratio with silver, so looking to rebalance. Both by selling my silver and putting those funds into gold, and with my weekly budget going into both gold and platinum
    * I bought my first 1oz bar last week, and I have gold fever from it :D next target is the 2.5oz PM gold bar
    * gold has performed better than silver since the start of this calendar year

    However, I’ve got some fractional gold going up for sale in a week or two, depending on spot price movement. I’m moving my fractional gold into higher increments (1/4oz to 1oz sizes)
     
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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Why the move to bigger sizes? Reduce exposure to premiums or just want items that feel better in the hand?
     
  6. madaw1

    madaw1 Well-Known Member

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    I personally think,that gold still has big potential even if we can expect in meantime some pull beck. I rather keep gold at this stage than cash/it's safer/. Most sellers thinks the same way-so there is no gold for sale now...
     
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  7. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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    A bit of both. The premiums seem to bite harder when spot moves up, and the last thing you want when gold is heading north (and harder for stack since it’s starting to get too expensive) is to waste your hard earned money on premiums.

    And that 1oz bar just feels amazing in hand! I have fractional QB’s, Roos, lunars and maples. The maples and QB’s are the only ones I intend to keep, since I’m collecting the sets of QB’s and the maples are a permanent hold. But otherwise, I’ve decided that I like to actually hold the gold I own in my hands, rather than a capsule. Nothing beats it.
     
  8. slavaja

    slavaja Well-Known Member Silver Stacker

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    1oz cast bars are my favorite
     
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  9. JulieW

    JulieW Well-Known Member Silver Stacker

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    1 ounce coins feel like solid wealth to me.
     
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  10. madaw1

    madaw1 Well-Known Member

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    2 once lunar coin feel to me like double solid wealth...
     
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  11. slavaja

    slavaja Well-Known Member Silver Stacker

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    Ahh I got some of those such a pretty coin I might have to let go of mine soon
     
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  12. madaw1

    madaw1 Well-Known Member

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    I hope you are talking about 2 oz Au lunar coin year of mouse 2008...
     
  13. slavaja

    slavaja Well-Known Member Silver Stacker

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    Nah not that I wish. I tried to collect the set but gave up. Someone on the forum has a mouse I can't remember who. I think it was @dragafem
     
  14. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Where is the best place for selling unmarked high carat gold in Sydney. I presume all dealers have those X-ray guns

    Im thinking a dealer or professional buyer is best since it’s all home made 18ct or 14ct rings (now they are littles bars) since I can’t guarantee the buyer 100% the carat, it could bit bit more or less.

    Ie mixed various amounts of 999 au and copper/silver to make gold rings... I actually have about 40gms of it lol
     
  15. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Why not post in to Goldmongers? He will give you 95% of spot on the carat percentage via XRF.
     
  16. Silverbandit007

    Silverbandit007 Well-Known Member Silver Stacker

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    I can relate, also brought my first 1oz gold last week but a coin (2020 Lunar mouse), next will be the 1oz cast bar so I can actually handle it.
     
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  17. pennys

    pennys Member

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    Some pretty crazy prices paid for gold coins in the last 4 or 5 days. By the looks of it greater demand for physical gold than for paper.

    Kinda my rule. If you can't hold PM without damaging it then it is neither precious nor a long term store of wealth.
     
  18. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Being that we are going into a storm of some kind with the world's second largest economy stalled and the probability of the Corona going right through the world population in the next 6-8 months the next year sounds like a wet dream for people who feel that gold will be a safe haven in a storm. Isn't that kind of scenario part of the rationale for stacking in the first place? Whether it's a valid idea remains to be seen of course.
     
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  19. minimilled

    minimilled Active Member

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    GSR issue? Maybe more than 80oz Ag on offer to every oz Au because that is more like the reality in investment bullion land. (2400/30 = 80)

    Gold is going up and so selling it might go against the grain for many a holder. However, most stuff is sold quick smart.

    Silver might seem like it is middling, but if you look at the 10 year chart, then it has just broken through to its highest point in AUD since around 2013 in the slump (at least in averages, intraday may be another story). I’m hoping for a breakout from here, but since it is an industrial metal, a downturn in China would see inventory pile up quick.
     
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