The High Price Of Bullion

A few better date US pre 1933 eagles are starting to show up at close to bullion prices. Not rarities but a decent slabbed XF45 1854-S selling for the typical pricing of 2 years ago. And any premium for slabbed common MS up to 64 is gone.

I filled up the gold page of my 7070 album back when gold hit $1700 for the first time back in October of 2011, fearing that the price was just going to keep rising and rising. And, yes, I felt rather foolish when gold prices dropped to $1100-1200 a few years later.

No complaints now, however!

India would need $13 billion in gold to redeem their gold bonds. It's a seller's market and there are not enough sellers to satisfy their need.

https://www.cnbctv18.com/personal-f...2639.htm/amp

Edited for conversion to US dollars.

Corrected jbuck - the trillion is rupees not dollars. But it's still 132 tons of gold. India is a big gold buyer for the next several years. They typically buy about 20 tons per year.

Looks like its turned a corner and going back up after everyone bought. Some nice deals out there still but silver up around $1 to over $30 again and gold bouncing up and down but well positioned to head to $3,100+ once more.

I think silver was so under valued, and so necessary, as well as so under produced, its the one to watch to bounce back most. I'd expect it between $31 and $32 by the end of the week. I got in on a 10 oz bar for $313 and feel pretty good about it. Did OK on a bag of junk silver and didn't get robbed on Canuck .9999. I bought a boutique Germania coin for the mantle for $80, a magnificent piece of metal craft for $80, which beat everyone else by $20.

My only regret was not popping for that .9999 last night when it was $323 when my gut told me silver was going to turn and head in the other direction. Now its hard to even find the bar at any cost. I got a gold Eagle coming home today for $3,183 thats holding its own at $3,171. Gold is going to do just fine ; Its the last of my worries.

Near as I can tell everyone panicked like chickens with their feathers on fire and started buying as the market turned slightly bullish and nobody wanted to be left out. Also the world didn't come to an end on Liberation day, especially for metal which got left out. Once again PM's to the rescue.

As well the world believes deals will be cut cause trade wars benefit nobody. Trump means business so the world will go back to doing business.