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 Replies: 11 / Views: 2,072 |
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Pillar of the Community
Australia
7096 Posts |
from what I can gather a lot of the big investors are selling off their PM portfolios, So who are they selling to  Edited by trout1105
04/18/2013 7:29 pm
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Pillar of the Community
United States
1080 Posts |
everyone in my town is buying! the LCS can't keep the stuff in stock!
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Pillar of the Community
Canada
2001 Posts |
Ya I know people who never bought P/Ms before asking me where to buy them, I tell them about different sites etc but it appears there is a supply shortage at the moment atleast , ie Canadian Maples. If the big investors are selling off paper P/M then it wont help the supply problem as paper P/M is just that, paper. They could be selling off bars I guess if it is physical P/M that they owned who knows I guess.
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Pillar of the Community
Japan
666 Posts |
as one of the guys from PM investment message board said:
plunge in PM prices did more PR than 8 years of rising prices. People are heading towards buying metals now ... they are talking about gold along with some stock picks ... it's going to be very interesting
Well, I'm buying ... and of course there're sellers who I buy from ))
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Pillar of the Community
United Kingdom
548 Posts |
Loads of people seem to be buying PM in the UK. Our biggest online bullion dealer claims to have sold out of most of its stock and is refusing to accept orders worth less than £500
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Pillar of the Community
United Kingdom
616 Posts |
Hard to telling if I am buying at the rate Goldmart is fulfilling orders.
Edited by starbuxinvestor
04/19/2013 07:17 am
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Pillar of the Community
Canada
2001 Posts |
SGB today:
Tube of 20 x 1oz Sunshine Mint Silver Rounds: Sorry, we're looking for more stock!
Tube of 20 x 1oz 2013 American Eagle Silver Coins: Sorry, we're looking for more stock!
Tube of 25 x 1oz 2013 Canadian Wood Bison Silver Coins: Sorry, we're looking for more stock!
Tube of 25 x 1oz 2012 Canadian Cougar Silver Coin: Sorry, we're looking for more stock!
Tube of 25 x 1oz 2013 Canadian Maple Leaf Silver Coins: Can only order one tube and its a 4 week wait.
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Pillar of the Community
United States
2168 Posts |
If premiums weren't so high, I may have tried to pick up something. With premiums so high, to me it was more inexcepensive back before the huge drop. I will wait until the dust settles to see what I can get and how premiums settle down.
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Pillar of the Community
United States
830 Posts |
I tend to agree with Rick Santelli that the drop was deleveraging of investors that bought on margin. And the OP has it right that if someone is selling there has to be someone else buying.
From what I've heard reported the GLD ETF is the 6th largest holder of gold in the world, but as someone sells, someone else has to be on the other side buying. I think that any gold moving out of GLD is only to maintain the balance of share price to the market price of physical and is done in lots of 100,000 shares.
Edited by GoThunder
04/19/2013 12:21 pm
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Valued Member
Canada
442 Posts |
I bought a 1 kilo from Silvergoldbull for about 29.25 an oz. That was when spot was just under 28
The same bar is selling for about 27 an oz, but spot is 23 dollars! 4 dollar premium for a regular kilo bar. They weren't even selling the wildlife series for that much!
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Pillar of the Community
Canada
746 Posts |
Yes, SGBull has raised its premiums quite a bit. I bought some Antelope wildlife at $27 spot, which is now selling for about the same price, at about $24 spot.
@Northerncoins, The Maples are back to a 3-week wait and no limit. Glad I got some Bisons before they went out of stock. I'm guessing once they get them back in stock, the price will go up anyway, like the grizzly & moose did.
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Pillar of the Community
Canada
2001 Posts |
Thanks allspice. I can't believe the price of the Grizzly's CA$ 1,170.62 a tube, then again yes I can lol.
I just got this email from Goldmart .yes I posted it in two other threads just incase someone might miss it.
Greetings
We are writing to inform you that currently we are experiencing some delays in processing most silver bullion orders due to the recent surge of volume and production issues from the top-down.
There currently are no delays for gold bullion products but some minor delays as our shipping department is backed up and we are working hard to get back to our standard processing times. For this reason, we clearly post our "typical" processing times throughout our website. We use the word "typical" for a reason because sometimes atypical situations like the one we are currently experiencing arise.
Right now there is a major production and supply problem for silver bullion at the U.S. and Royal Canadian mints as well as many of the private mints we distribute silver products for. These delays have created inventory gaps which have led us to adjust the status of many silver bullion products as being delayed or out of stock.
At the time of many orders, products were in stock and ready to ship, which at the time was the truth as we had product in-house, en route, as well as paid orders with distributors waiting for their production, delivery and shipment.
Currently we have pallets of 2013 Silver Eagles and 2013 Silver Maples that are en route to us now, paid for and scheduled to ship from distribution. We also have tens of thousands of ounces of other private silver bullion products en route to us, again paid for and scheduled to ship to us.
We are sorry about the inventory gap, but we too are experiencing delays in the supply chain from distribution. These same delays from mint distribution have been prevalent throughout the industry and are the predominant reason for the rise in premiums on silver bullion products.
We apologize for the delays and are sympathetic toward our customers, as we too are experiencing the same delays . . . and we appreciate your understanding.
Sincerely,
Goldmart.com
Edited by Northerncoins
04/20/2013 07:14 am
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Replies: 11 / Views: 2,072 |
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Posted 04/19/2013 04:43 am
