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 Replies: 5,643 / Views: 459,415 |
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Pillar of the Community
United Kingdom
548 Posts |
The biggest online bullion dealer here in the UK (BullionbyPost) has suspended sales until Monday morning. This market wobble must be scaring them.
I'm looking forward to seeing what happens next week.
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Valued Member
United Kingdom
90 Posts |
Not just BullionByPost, but Atkinsons also suspended for now.
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Valued Member
Canada
281 Posts |
Although the spot price went down almost $100 in a couple of days, The most popular online dealer here SilverGoldBull hasn't shut down but like anybody else, they probably won't endure another downward wave. A ounce of gold stays at a $100+ premium and ASE's at a $5 premium. |
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Pillar of the Community
United States
3670 Posts |
I have always liked First Majestic out of Canada who mines in Mexico, mints in USA. They no longer have their sand blasted kilo bars in stock.... This silver 50 bar is priced at 1475 and with shipping to USA say 1525, so that's over 30 per oz.. My point many small companies will not be able to drop much more, if 20 per oz. does become a reality and they sell at say 24 per oz., many stand to lose who knows how much cash. Them and all the other companies out there who have had no choice but re-stock in the higher to mid 30 price range.... https://www.store.firstmajestic.com/product/view/5Edited by Silverhawk74
04/13/2013 2:43 pm
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Bedrock of the Community
13014 Posts |
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My point many small companies will not be able to drop much more, if 20 per oz. does become a reality and they sell at say 24 per oz., many stand to lose who knows how much cash. They wont have a choice if people stop buying their stuff when its the most expensive in town and online if they dont drop. They may lose money but theyll lose even more just siting on it not selling anything. At the same time going forward theyll make extra money on spikes. The good companies will get through price drops and probably already had plans in place for it. Those that were barely getting by in the mid 30s range however probably will disappear |
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Pillar of the Community
United Kingdom
1682 Posts |
Got an email from Chard's today trying to entice folks to buy, so it looks like they are still selling.
Of course, they are saying buy now in case the the price of gold goes up on Monday morning when the markets open.
Ken
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Pillar of the Community
United States
3670 Posts |
I kind of expect a swift recovery to 27.50 by Mid week. No real factual proof reason why, just gut feeling which may mean look out 20 here we come lol....
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Pillar of the Community
United States
3670 Posts |
Great points to Baseball as I have had to take a lose before to keep things moving and cash flowing and bills paid. Our timing is not always spot on, and when it is not we just have to take it on the chin and keep churning forward....
Edited by Silverhawk74
04/13/2013 3:42 pm
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Valued Member
United Kingdom
90 Posts |
I think well see a fair bit of up and down next couple weeks, but it won't climb right back up to where it was, it's all part of the overall roller coaster downward trend of the past 6 months. Not unless something spectacular happens like North Korea launching a missile at a US base.
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Valued Member
Canada
312 Posts |
wow I was going to buy a few one ounce silver bullion coins today and noticed the drop in price! GB has'nt changed there spot price on the canadian silver bullion coins,so I might just wait until monday and see whats happening.....not that a few pieces of silver at $30 a piece will break me,however looking at the history of gold espicially during the recession in the 1980s and the recession in 2009,Factor in 27 years of inflation,and I'll put gold around $800 an ounce in about 2 years as the economy continues to recover,like it did in the 1980's...Just my opinion.....
Edited by Whitetail Junkie
04/13/2013 4:31 pm
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Bedrock of the Community
13014 Posts |
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Great points to Baseball as I have had to take a lose before to keep things moving and cash flowing and bills paid. Our timing is not always spot on, and when it is not we just have to take it on the chin and keep churning forward....
Exactly. Its never fun to take a loss but its better to lose 5-10 to get back 30 bucks than lose 35-40 hoping for the price to come back Edited by basebal21
04/14/2013 01:13 am
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Valued Member
United States
200 Posts |
I think it is unethical if the sellers stop selling when prices drop. After all when the prices shoot up (which happens with more frequency than the price drop), they make money too.
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Bedrock of the Community
13014 Posts |
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I think it is unethical if the sellers stop selling when prices drop. Theres nothing unethical about it. They own the inventory and free to sell or not sell as much of it as they like. Without a quick spot rebound though its going to cost them more to have all the dead money tied up than it would to take some loss and get the money working again. So it may not be unethical but its definitely not smart |
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Valued Member
Canada
281 Posts |
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I'll put gold around $800 an ounce in about 2 years as the economy continues to recover 1st, I don't see any recovery whatsoever. Dow Jones doesn't mean anything. No changes in monetary policies. 17 trillion $ debt with a annual trillion deficit. Close to 50 million on food stamps. 1.5 quadrillion of derivatives(and when that bubble burst,watch out) Money printing galore with a bond bubble just ready to do serious damage. A possible Europe meltdown On and on and on. If you look at history, these conditions were always precursors to every major wars. As far as $800oz gold, if that happens, every gold mining companies will shut down, hence a rise in the price. Many CEO's of major gold mining companies are saying that it's costing in upwards of a $1000oz to produce in 2012. Even though there is a downward trend in prices, it has nothing to do with supply and demand, that's for sure. Governments and banks everywhere are buying it up like there's no tomorrow. You don't need to wear a tin foil hat to see prices are manipulated for the sake of fiat. China and Russia are not loading up to see $800oz. The world economy is on life support and when the powers that be decide to pull the plug, we'll revert to the Golden rule: who has the gold, makes the rules  |
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New Member
Australia
48 Posts |
When you see the Dow drop to around 3000 late this year then the global economy can begin to improve. Until then any price for gold and silver is good to buy imho. ;)
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Replies: 5,643 / Views: 459,415 |
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Posted 04/13/2013 1:56 pm
