WARNING!!!!Gold is now getting smashed

[wrcmad]

Currently Kitco says I should expect $2450 for an ounce of gold, when my personal price today is nearer $3000 because of,

$3K.... Tell her she's dreamin'......
If spot was so irrelevant, it wouldn't be used to reference physical price here ...well... forever.
Stackers keep telling themselves there are two different markets, especially when price falls. so they can lay blame on futures.
When price rises, they praise phys and pat themselves on the back for holding phys.
In truth, prices of both are locked at the hip, and are one and the same, and with good reason.

 

[heartastack]

$3K.... Tell her she's dreamin'......
If spot was so irrelevant, it wouldn't be used to reference physical price here ...well... forever.
Stackers keep telling themselves there are two different markets, especially when price falls. so they can lay blame on futures.
When price rises, they praise phys and pat themselves on the back for holding phys.
In truth, prices of both are locked at the hip, and are one and the same, and with good reason.

Within reason.
If a mining stock is fairly priced according to the proven 'mineable' resources under the ground and there is a stock market crash forcing shareholders to liquidate to cover losses or put food on the table then there is a decoupling of paper vs physical value.

Similarly people being forced to sell paper metals distorts reality, at least for a bit.

 

[GreatSouthernTime]

Reckon it's the corporate debt liquidity crisis, everyone outside USA is scrambling to pay their $US denominated debt.
https://edition.cnn.com/2020/03/14/investing/corporate-debt-coronavirus/index.html

as I’ve understood it’s a lot to do with the repo market, in order to get overnight lending while lacking collateral the funds and banks are selling off everything to buy the T-Bills which are considered the most liquid of collateral in the repo market.
Therefore they are selling everything on the books to get the lending, that includes gold, silver and bitcoin.

 

[GreatSouthernTime]

I am definitely watching for a buying opportunity. But the physical price isn't really following suit, apart from the big bars.

I think this happened in the last crash, all metals and commodities were taking a dive as funds tried to sell off and get liquid but physical world wasn’t translating. That was due to a run to physical metals and a lack of supply.
If I’m not mistaken or misunderstanding.

 

[GreatSouthernTime]

and just think the majority of the people out there have NFI what's happening right now....all watching Married at First Blight or some other god damn awful reality crapola.

lets be clear, the so called experts don’t know what’s happening. Nobody does right now except maybe some global elite who really saw the writing on the wall and have been waiting for this day licking their lips for the feast that’s awaiting them.

 

[yurana]

Buy buy buy gold physical

 

[Ryurazu]

Everything must go beta is 1, anyone willing to sell here tho?

 

[SilverDJ]

Trading is closed, but all bars (1oz, 10oz, 1kg, 100oz) show 'out of stock' (although the website shows Buy Now). Spreads:
View attachment 35181

Coins/rounds show some availability in 0.5oz, 1oz, 2oz sizes; 5oz, 10oz, 1kg coins show all out of stock.

With the depository service you can still buy allocated bars.
In fact it's currently cheaper to buy physical on Perth mint depository than the dealers.
e.g. 10oz silver bar is $216.1 + $21

 

[JulieW]

$3K.... Tell her she's dreamin'......
If spot was so irrelevant, it wouldn't be used to reference physical price here ...well... forever.
Stackers keep telling themselves there are two different markets, especially when price falls. so they can lay blame on futures.
When price rises, they praise phys and pat themselves on the back for holding phys.
In truth, prices of both are locked at the hip, and are one and the same, and with good reason.

Which is probably why there's 500 times more paper available to buy than metal today.

Buyers and sellers make the market, not some gold fix round table.

 

[wrcmad]

Within reason.
If a mining stock is fairly priced according to the proven 'mineable' resources under the ground and there is a stock market crash forcing shareholders to liquidate to cover losses or put food on the table then there is a decoupling of paper vs physical value.

If the proven mineable resources is valued using the futures spot price, then your statement is an oxymoron.

 

[wrcmad]

Which is probably why there's 500 times more paper available to buy than metal today.

Buyers and sellers make the market, not some gold fix round table.

You are conveniently conflating a "contract" with a "warrant".
There is a HUGE difference.
The spin-doctors do this because in the absence of this conflation, the manipulation theory has no substance.

 

[silverhair]

I must say gold is holding up like a champion all things considered. Smashed is a huge over statement, more like slightly bruised compared to bluechip equities and other options for wealth preservation.

 

[GreatSouthernTime]

I must say gold is holding up like a champion all things considered. Smashed is a huge over statement, more like slightly bruised compared to bluechip equities and other options for wealth preservation.

if you look at the 6-12 month charts both gold and silver are holding up just fine. think the markets may have gone back a few years.

 

[bubblebobble2]

gold had COVID-19.. now has recovered very well
https://www.kitco.com/market/index.html

 

[Krakked789]

This website should be called "Silversuckers." Gold rules the roost...

 

[Silver260]

This website should be called "Silversuckers." Gold rules the roost...

Lol. I'll predict the general flow of conversation to come on SS

2 Months ago : Equity holders calling Gold and Silver holders suckers.

Today : Gold holders calling Equity and Silver holders suckers

And if 2011 repeats?. Let me guess... Silver holders calling Gold and Equity holders suckers.

If only I could trade hindsight.....

 

[heartastack]

Don't forget the worst of them from 2017-present: The Crypto parade calling everyone suckers

Would definitely be nice to get a one up on all above with the humble silver stack

 

[Krakked789]

Lol. I'll predict the general flow of conversation to come on SS

2 Months ago : Equity holders calling Gold and Silver holders suckers.

Today : Gold holders calling Equity and Silver holders suckers

And if 2011 repeats?. Let me guess... Silver holders calling Gold and Equity holders suckers.

If only I could trade hindsight.....

I hope you're right, as right now I'm one of my own suggested suckers...

 

[Krakked789]

Don't forget the worst of them from 2017-present: The Crypto parade calling everyone suckers

Would definitely be nice to get a one up on all above with the humble silver stack

I agree. Please note that my avatar is NOT what it seems...

 

[GreatSouthernTime]

Lol. I'll predict the general flow of conversation to come on SS

2 Months ago : Equity holders calling Gold and Silver holders suckers.

Today : Gold holders calling Equity and Silver holders suckers

And if 2011 repeats?. Let me guess... Silver holders calling Gold and Equity holders suckers.

If only I could trade hindsight.....

Sitting right there in that silver sucker department right now but Honestly I’m quite happy for this to drag out and give me a chance to stack more in the meantime.
Also although the paper market was getting smashed the physical either wasn’t correlating or wasn’t available.