Will dealer buyback gold when the gold price is all time high?

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gandhi28152

New Member
Hi everyone, newbie here...

intending to sell my PAMP bars right now, since the price is good. But, not sure if the dealer will buy back or not.

have a few questions, much appreciated if someone can kindly share some knowledge...

and Thank you for sharing :)

1) Will dealer buyback gold when the gold price is all time high? If they do, how are they going to resell it again if the price is bearish soon... dont they make a loss in this.

2) if selling it via silverstacker, i assume no one will buy it when the price is all time high unless it shows a confidence that the price will be going up and up?

3) where would be a good place to sell it? any recommendations on the dealers in Melbourne?

4) if selling it via silverstacker, i assume the safest way is to sell it face to face, cash payment, in a crowded area? even next to the bank to deposit the cash as soon as the process of transaction finish ?
 
gandhi28152 said:
1) Will dealer buyback gold when the gold price is all time high? If they do, how are they going to resell it again if the price is bearish soon... dont they make a loss in this.
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Dealers make money on the act of trading (and the margins in that), not gambling on the price of the metal.
If a dealer sells metal, then they instantly buy an equal amount, market price does not matter.
If you are a dealer and worry about the price of metal then you are doing it wrong.
 
If you look at tke history of production/sales og silver eagles, you can see the production/sakes exploded after the 2007 crisis startet. So the higher the price, the more hype/publicity precious metals get, and the more people buy even if the price is high. So dont worry, the higher the price, the more buyers.

Just like the bitcoin hype. The higer the price, the more it got peoples attention and the more people started buying. And alot of people lost alot of money, but thats how a hype workes, when people just follow the crowd.
 
In 2011 my lcs had a line out the door and down the street, people buying and selling as fast as he could get them back out the door. He barely ever had any inventory and that was his biggest problem with the spike. He had people with cash and no bullion and he couldn't buy it fast enough. Other than that he was doing well on the turnovers and that's always his goal anyway, fast turnaround and a fast sale.

Having the cash to spend at the time of a devaluation might not be an issue, but if supply is drying up it's already going to be too late.
 
GoldenEye said:
The current best Melbourne dealers are probably "Bullion Now" and "Gold Stackers", and they're both in the same building.

There will always be buyers and sellers as nobody knows when we're at the top or bottom of a market.
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how do bullion now pay?? (cash) i have 350 g of 9ct, 26g of 18ct, 37g of 22ct 25g of 14ct.............with the price going the way it is ill prob trow in another 100 grams of 9ct,...AND NOT BEING A SMART ASS HERE ? do they realy pay spot ??? if so the amounts i sell make it worth flying down to melb to sell my gold......................ty for your input.....................kind regards
 
2nd_Hand_Gold_Man said:
how do bullion now pay?? (cash) i have 350 g of 9ct, 26g of 18ct, 37g of 22ct 25g of 14ct.............with the price going the way it is ill prob trow in another 100 grams of 9ct,...AND NOT BEING A SMART ASS HERE ? do they realy pay spot ??? if so the amounts i sell make it worth flying down to melb to sell my gold......................ty for your input.....................kind regards
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They only pay spot for bullion
About 90% for scrap gold
And yes in cash
 
2nd_Hand_Gold_Man said:
how do bullion now pay?? (cash) i have 350 g of 9ct, 26g of 18ct, 37g of 22ct 25g of 14ct.............with the price going the way it is ill prob trow in another 100 grams of 9ct,...AND NOT BEING A SMART ASS HERE ? do they realy pay spot ??? if so the amounts i sell make it worth flying down to melb to sell my gold......................ty for your input.....................kind regards
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I’m pretty sure Bullion Now don’t buy gold jewellery under 24k, however they have a partnership with a company in the same building that handle the jewellery side. Just give Bullion Now a call and they can confirm or correct this statement, and can walk you through the process of you selling your belongings without you having to fly down if it’s not worthwhile economically.
 
You can post your stuff in to them and they'll pay you via eft. Goldmongers buys scrap gold less than 24k and are in the same building. Give them a call too.
 
2nd_Hand_Gold_Man said:
how do bullion now pay?? (cash) i have 350 g of 9ct, 26g of 18ct, 37g of 22ct 25g of 14ct.............with the price going the way it is ill prob trow in another 100 grams of 9ct,...AND NOT BEING A SMART ASS HERE ? do they realy pay spot ??? if so the amounts i sell make it worth flying down to melb to sell my gold......................ty for your input.....................kind regards
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I rang goldmongers today asking for prices and it seems like they offer $5 below spot (so 24ct spot of 70 they offer 65). Give them a call im sure theyd let you post stuff in rather than fly down.
 
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