A squeeze is coming,banks are short ,they need to cover
Quote:
Originally Posted by dsdominators
(Post 1264005)
What about buying now?
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well,did you see what happens today,both gold and silver fell.
A lot of unrealised profits built up in both ,so profit taking is expected.
I will wait .
Right now the retail shops are not buying your scrap silver (cups,dishes,plates,chains),why?
They are running out of money,they cant sell them to the wholesaler/refiners as they wont take them.
Why wont they take your silver?
Refiners make small profit,when they take in your silver and refine them into silver bars,they will hedge with London or Comex,by buying future contracts.
Say they paid $78 for your silver,but future contract said they can sell them at 75,it is called backwardation.
Some may take your silver coins thourgh and of course gold,refiners are happy to take your gold any time in any shape or form,refine them and sell to US govt.
This may be a good time to buy scrap gold on Ebay,
You may also want to take a look at mining stocks,most mine silver,gold,copper and zince,low price junior mining stocks traded on Vancouver Exchange between $5-$10 ,their all in cost for mining gold is $ 1600,they are selling them at $3700, per troy ounce
Central Fund of Canada actually holds physical silver,
China could declare silver as strategic material and domestic silver producers would need to apply for export license if it is over a certain volume.
Gold is a monetary alternative to fiat currency,but silver has commercial value,you need silver for solar panels,EV,etc.
Quote:
Originally Posted by rsot
(Post 1264068)
Physical reserves of gold I meant - clarification.
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so what does it have instead of gold?
See,if you buy silver ETF,it does not mean the ETF can take your money and go buy some physical silver,there could be a shortage,so the ETF then is not fully backed by silver.
hence the difference between paper silver and physical silver.
I went to several precious metal dealers sites this morning,they do not have all the silver bars available and just promise a future delivery date.
There is no shortage of buyers for 10 troy ounce silver bars on Ebay,paying over $800 /bar.
Same in China,they are buying silver bars like they buy vegetables in open market?
US margin requirement has gone up ,forcing some traders to sell some of their positions last week..
China has officially announced silver export restriction,cant recall all the details,but most small silver companies would not be able export their silver.
So we should hear from Mexico as it is the largest silver producer in the world.
Frenzy continues on EBay as buyers keeps buying 10 troy ounce silver bar
Quote:
Originally Posted by BlackLion
(Post 1264012)
I'm hoping Silver and Bitcoin drops, so I can start buying more physical silver and btc etf's for the weekly and monthly pay.
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I would not buy Bitcoin,but then I am not a crypto fan.
Bitcoin is like a sick patient ,been lying in bed for too long,not able to get back to above 90,000.
You draw your own conclusion.
Well,there is a bid and ask price,the coin shop,resale shop,pawn shops have to make some money too.
You can also sell to a refinery,skipping the middle man ,if you have enough volume to justify such sales.
But either way is better than selling on EBay,with Ebay fee and credit card fee,and INAD ,return shipping fee.
Quote:
Originally Posted by BlackLion
(Post 1264110)
I am not a crypto fan myself, but have watched crypto ETF's make a lot of people happy. I invest in those for the weekly/monthly dividend. Soon i'm going to buy a ton more, and hope btc price drops like it did a couple months ago when everyone panicked, because you'll be able to get into ETF's cheap.
Do not sleep on Platinum. It was under $900 last year, and today over $2,000. Silver and Platinum are the two to look after. It must be physical, never in stock form.
Adding this as i'm typing... Palladium is $1,681 today, last year was $886-$900+ and around $200 ish in the early 2000s. People only focus on Gold, and that's a big mistake. There's always an alternative for everything.
If only I made good money i'd be loaded because i know what to invest in when it comes to reselling, stocks/etfs/dividends, precious metals,etc
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I dont know enough of some of those metals you mentioned,palladium,lithium,uranium? to trade in,I just work with gold and silver.
Those who make fabulous money selling their gold are those oldies who have held on to their gold for many years,but then I am not sure did they really make money,given gold may be lower,but cost of living is also lower.
Gold pays you no interest while hiding in your mattress
No,I dont think we have pawn shop here.
