The fair value of a good or service is the rational and unbiased estimate of the potential market price. Unfortunately, the current gold prices are irrational and biased. The paper market for gold trades 100 to 200 times the amount of gold there is to back the trades, which is completely irrational. It also came [...]
The recent drop in gold and silver prices has caused a spike in demand, which has emptied the shelves and caused delays for many precious metal dealers. Below is a table of current (April 2, 2013) messages regarding delays shortages. I commend the dealers who state which items are out of stock or delayed, so [...]
According to the silverdoctors.com, all of the silver wholesalers in the US are completely out of physical silver. So if you waited to buy this dip, you’re probably out of luck. It seems like retail dealers still have popular coins in stock, but that probably won’t last long. Good luck, everyone!
With all of the market manipulation, paper markets and central bank printing, it’s anyone’s guess what happened to gold prices last night, but here are some of the more logical theories that explain yesterday’s 500 ton paper gold sell-off: The paper gold market is collapsing, and smart money is dumping their paper before it’s too [...]
Over the last 90 days, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001. Total drainage of physical inventories reached nearly 2 million oz.’s of gold, which represents roughly 3 billion dollars at today’s prices. The largest inventory drainage is being [...]
Peter Schiff explains the recent pullback (decrease) in gold prices and recommends buying the dip.
COMEX is normally a “paper gold” market in which investors rarely convert their contracts to physical gold. But in February, requests for physical delivery of gold on the COMEX set a record, reaching 43.26 tons (1,391,000 ounces). By comparison, previous records were around 10 tons. Have recent requests by Germany, Switzerland and Venezuela to return [...]
And so it has begun: the divergence of physical and paper precious metals. The US Mint has sold out of American Eagle silver coins and will not restart sales until “on or about” January 28th. Authorized Purchasers, The United States Mint has temporarily sold out of 2013 American Eagle Silver Bullion coins. As a result, [...]
Currently, the Federal Reserve Bank of New York holds 45% (1,536 metric tons) of Germany’s gold reserves. The remainder is held in London (13%), Paris (11%) and Frankfurt (31%). In the past, The Fed has denied German requests to audit their own gold “in the interest of security.” In 2007, German representatives were allowed to [...]
On Christmas Eve 2012, billionaire investor Eric Sprott spoke with SeekingAlpha and discussed the current gold-buying sprees of the central banks of the world. Sprott pointed out that central banks continue to buy gold in developed and emerging countries. He does not believe western banks hold the amount of physical gold they claim to possess, [...]