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Silver And Gold Prices Are Tanking. Who Knows Why?

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Valued Member
United States
377 Posts
 Posted 03/25/2020  04:45 am  Show Profile   Bookmark this reply Add Lionel90 to your friends list Get a Link to this Reply
I see where some big stores are not allowing the return of toilet paper and Lysol. That currency is not universal. More of a stop gap measure. Also states are Trying to close gun shops and background checks are way up which relates to new gun purchases.
Valued Member
United States
170 Posts
 Posted 03/25/2020  08:53 am  Show Profile   Bookmark this reply Add river4449 to your friends list Get a Link to this Reply
Which seems rather ill-timed. I've talked to the owners of gun stores nearby and they're all in agreement that for one, it's being taken too far and two, they usually get an influx of business around this time towards the beginning of spring black bear season up here. So even despite the huge profits made by gun stores they themselves agree people have gone too far with prepping for the virus. Every store I know of near by is sold out of 9mm, .223, you name it.

Jasper
regards, Jasper- "river4449"

PMs are open, whether you have a question or simply wish to talk.
Valued Member
United States
377 Posts
 Posted 03/25/2020  4:17 pm  Show Profile   Bookmark this reply Add Lionel90 to your friends list Get a Link to this Reply
Good news is silver spot prices are rising and that means the dealers will suddenly have stock again.
Valued Member
Canada
62 Posts
 Posted 03/25/2020  5:26 pm  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
On tv they are talking lately about people asking for physical gold and not getting it. I bought an ounce last week and one this week as well as I bought some shares of PHYS in Canadian dollars. The place I deal with is sold out of 1 ounce coins of Canada and Beast coins they have some 1/4 ounce and a supply of pandas of different years. Not sure but I expect something to happen soon with physical ,don't know if I want to be right or not.
Pillar of the Community
United Kingdom
2479 Posts
 Posted 03/29/2020  12:05 pm  Show Profile   Bookmark this reply Add DavidUK to your friends list Get a Link to this Reply
I think people are liquidating assets to cover their expenses so will be selling PM's as they are easy to convert into money. I think this will be a temporary situation till things get moving again then I am expecting the prices to rebound heavily in an upwards trend as currencies lose value.
Bedrock of the Community
Australia
17004 Posts
 Posted 03/29/2020  4:44 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Pillar of the Community
United States
2079 Posts
 Posted 04/02/2020  1:52 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
On the other hand, looking at semi collectable pre 1933 US over the past two weeks, some of the big dealers have dropped their usual eBay listings. On their sites, new semi collectable coins are not appearing in the way you'd expect if there was large scale liquidation going on. Instead, semi collectable coins have all disappeared, leaving a motly assortment of cleaned and common date coins. What they have is being sold at higher-than-usual premiums too. Common $10 and $20 libs are selling at 20% over spot.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
04/02/2020 1:57 pm
Pillar of the Community
United States
3938 Posts
 Posted 04/02/2020  6:46 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Prices aren't tanking, they're going up!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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