Decline in Silver and Gold Sales

I think reason for so many people buying in Canada is that for one there is economic uncertainty but mostly I think its because people are becoming more educated and realizing the opportunity and benefits of owning silver. And with prices being down people are taking advantage.
I just wish I was buying 50 ozs today instead of 5 :( but I'm happy to add to my stack at a decent price. Hopefully I'll have some more money in a week so I can pick up another 5 -10 oz.s :)
 
Redback said:
People are selling everything they own just to pay electricity and other utility bills.
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I made a purchase off here not long ago that was requested to be paid direct into a rental account at the real estate agents :(

OTOH that's the insurance aspect of precious metals ownership kicking in. Liquid assets.
 
hiho said:
We are entering the economic winter, I hope you all enjoyed the extended summer and autumn.
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To take a quote from one of my favourite books, now turned TV series:

"Winter is coming"
 
goldpanner said:
Silver Eagles in High Demand | The Bullion Report

www.thebullionreport.com.au/2011/06/18/silver-eagles-in-high-demand/

This report says they can't keep up with supply and if the demand keeps up they will run out of silver and have to import it!
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The Age mentioned some of the same stuff but the bullionreport is speaking about sales demand in January not May. It's May that The Age was highlighting as having demand falling back to December levels.

malachii
 
The general public likes to buy when things are rising in value. When it approaches $50 again, there will be a buying frenzy again.
 
Doesn't surprise me demand is lower now.
http://www.kingworldnews.com/kingwo...ap_files/KWN Weekly Metals Wrap 6:25:2011.mp3
Great commentary from Bill Haynes, of CMI Gold & Silver around 1:05 in, describing sales of gold and silver, among other things.

A more recent episode:
http://kingworldnews.com/kingworldn...rap_files/KWN Weekly Metals Wrap 7:2:2011.mp3
About 1:10 in.

Plus this is traditionally the slow season for gold & silver apparently (this is my first time being interested in gold and silver at this time of the year since I got into it later last year, so I didn't know about this until a few weeks ago)



As for pub decline discussed here, a lot of it is due to changing tastes/lifestyles ... money is going elsewhere; it doesn't necessarily mean it isn't being spent (though perhaps there is some of that too; I would love to know conclusively).
 
geewiz said:
The general public likes to buy when things are rising in value. When it approaches $50 again, there will be a buying frenzy again.
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I think this is true.

I was listening to an interview from a gold & silver vendor (forget his name), and he said many more people buy when they see the price rising and get "shaken off" when it falls. But he mentioned the core customers that have done their research (not buying on a whim) being big buyers when the price drops.

I wish I had the link now.
 
Re: pub trade, winter is typically an off-season for hotels and clubs so trade dips naturally as people go straight home after work, turn up the heater and eat home-cooked "comfort food". Most places are just riding the trend but good management means a few are doing quite well and bad management means a few are doing quite badly.

The whole pub industry (in NSW at least) is still recovering from the margin calls that were made a few years ago. A few banks had made big loans against a large number of hotels at up to an 80% LVR and yanked it back to 40% when the GFC hit, so a lot of highly leverage publicans were forced to sell into a falling market. A drop in trade pushed prices down a bit, but dozens of high profile venues coming on the market all at the same time with "reduced to clear" written between the lines of the sale contracts pushed prices down more. Customer tastes are also changing and crackdowns on smoking and gambling are forcing many publicans to adapt or die.

If you're a contrarian investor with a medium to long term outlook, now is a good time to be buying hotels (provided you're not intending to rely on the pokies to carry the whole venue).
 
Sargeant Argent said:
I think reason for so many people buying in Canada is that for one there is economic uncertainty but mostly I think its because people are becoming more educated and realizing the opportunity and benefits of owning silver. And with prices being down people are taking advantage.
I just wish I was buying 50 ozs today instead of 5 :( but I'm happy to add to my stack at a decent price. Hopefully I'll have some more money in a week so I can pick up another 5 -10 oz.s :)
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silver is on sale, product are available and people are trying to average their cost. inventory are moving slower since economic uncertainty.
 
malachii said:
Interesting report in The Age today about the US mint and the $1 US coin - but it surprised me at the end of the report to say that the US Mint has sold the least number of Silver Eagles last month since December last year (61,500 oz) down 6.9% and the sales of gold coins fell 43% since May.

malachii
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http://newsguide.us/business/financ...each-highest-demand-in-history-according.html

According to the US Dealer Regal Assets, the fever is rising and June has proved to be just as good as May for Silver Eagle Bullions Sales. Silver Eagles have already reached the 20 million sale threshold at the US Mint, with the total sales to date this year standing at 21.3 million and counting. This puts American silver bullion on track of 40 million units in sales this year.
 
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