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Gold and silver prices are down

Tried to buy some gold on eBay from bullion exchange. They messaged me a few days later saying they wanted me to email them a copy of my state issued ID. I told them to pound sand....

I then spent my money at Apmex....
 
ASHDUMP said:
Tried to buy some gold on eBay from bullion exchange. They messaged me a few days later saying they wanted me to email them a copy of my state issued ID. I told them to pound sand....

I then spent my money at Apmex....
Click to expand...

That’s weird. eBay did ask me to verify ID by code when I tried to add some Apmex coin to cart.

PS iPhone tries to change Apmex to Ahmed. I think that’s the sign PMs have bottomed!
 
Varmint said:
That’s weird. eBay did ask me to verify ID by code when I tried to add some Apmex coin to cart.

PS iPhone tries to change Apmex to Ahmed. I think that’s the sign PMs have bottomed!
Click to expand...
Yeah when I tried to buy gold thru the app it told me I needed to verify my account. And I had to do it via "web browser". Then an automated phone call came and gave me a pin... Entered the pin and now I'm good. Nit sure why I had to do this.... Bought gold and silver on eBay for years....

Then Bullion Exchange tried to get a copy of my ID. WTF....
 
PM prices acting very weird recently. When the stock market tanks, we're getting mild buying in PMs. Perhaps its simple - we're getting mild fear selling in the stock market, and mild safe haven buying in PMs.

My thinking is the fear won't last, stocks will rally and PMs will go test the lows again. Safe haven buying is not what we need for metals to bottom, we need the Fed to stop tightening. That won't happen any time soon.
 
Internet PM sales tax will curb sales by a reasonable amount.

I may have to open a little shop and throw up a shingle...
 
The Supreme Court ruled that it was legal for States to collect internet sales tax this year.
Local shops will continue to operate as usual.
Some collect tax on non-cash purchases (CC and check) and don't on cash.
 
RMC has got some time under its belt. (1980) Hope this isn't a sign of things to come...


 
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FPrice said:
Silver was down to $13.97 today. Gold was $1201.30

might be time for another buy.
Click to expand...

I bought a gold Eagle at spot today (after $100 bucks), just can't pass that up. Wish I had money to buy more than one cause I've a feeling in a few years I'll look back on $1205 for a gold eagle as a steal.

I think there's a good chance metals are not going much lower, because I don't know how much longer the Fed can continue with the hawkish stance, and as soon as they change their tone, that'll be the bottom for PMs.

Then again everyone seems to think this so maybe we go much lower, lol.
 
Win said:
What do you guys think? Is it finally time for the PM bull market? Any of you guys switching over to digital assets [laugh]?
Click to expand...

I'm waiting for bitcoin to hit 1 dollar then I'm buying one. I'll have to be quick though cause it'll be on the express train to zero.

As for PMs, I think it'll bottom in December during tax loss season. It just doesn't behave like it's bottomed - PMs usually have a sharp bottom, they don't linger at the bottom for months so everyone can buy at the bottom. I don't think it'll bottom til we have some kind of ugly day or week. Silver looks especially terrible, and you don't have a gold rally without silver.

I've been buying mining stocks that I like as they go really low, cause the mining stocks will probably bottom first before gold itself. I bought some gold with the recent Ebay bucks, got a gold eagle for spot from Silvertowne.
 
Looks like gold is starting to gain some momentum upward as nearly everything else is falling. Meanwhile my goldmoney stock was down 15% Tuesday and is down 10% so far today [laugh]. I only bought $200 worth of goldmoney many months ago. It's performed pitifully since the moment I bought it.
 
PaulR said:
NewB Question: You guys that buy $1,300 gold coins on ebay, do you buy shipping insurance or something too? advice, ty.
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I have never been able to buy a $1,300 coin. Yet.

But commercial companies do, I believe, insure (probably self-insure) your large purchases.

I would question the seller before completing the purchase to see what their policy is on this matter. I would hesitate to deal with anyone who would not provide some sort of delivery insurance. They maybe the most trustworthy person in the world, but all shippers, USPS/UPS/FedEx/DHL akk have lost shipments.
 
PaulR said:
NewB Question: You guys that buy $1,300 gold coins on ebay, do you buy shipping insurance or something too? advice, ty.
Click to expand...

I'm guessing you mean if a seller has offered shipping insurance as optional? I would buy it - yes. I've had a coin lost in the mail before. It does happen.
 
Win said:
Looks like gold is starting to gain some momentum upward as nearly everything else is falling. Meanwhile my goldmoney stock was down 15% Tuesday and is down 10% so far today [laugh]. I only bought $200 worth of goldmoney many months ago. It's performed pitifully since the moment I bought it.
Click to expand...

It bothers me that metals aren’t responding to 90 pt drops in the S&P. I don’t think it’s bottoned but maybe soon, as soon as the Fed starts talking QE again - it’s off to the races.
 
Varmint said:
It bothers me that metals aren’t responding to 90 pt drops in the S&P. I don’t think it’s bottoned but maybe soon, as soon as the Fed starts talking QE again - it’s off to the races.
Click to expand...

The S&P is almost at the identical level it was a year ago, in between was volatility ups/downs. I see no addition QE moving forward and the fact is there is no use for it. Corp Debt is now at the highest it’s been as a %of GDP not to mention the Margin Debt. These are mainly caused by cheap money so the supposed cure is just postponing then ultimate downslide. My opinion is this will carry forward for several months the market will ebb and flow upward and then it will crater. Just look at the drop today in the market due to the arrest of the Hawei CFO, 100% emotion. As for Gold the damn thing has not moved much for 4-5 years. I got in in 2007 through 2010 but then the prices started an artificial rise from what I could tell ..still watching it closely
 
Woodsy said:
The S&P is almost at the identical level it was a year ago, in between was volatility ups/downs. I see no addition QE moving forward and the fact is there is no use for it. Corp Debt is now at the highest it’s been as a %of GDP not to mention the Margin Debt. These are mainly caused by cheap money so the supposed cure is just postponing then ultimate downslide. My opinion is this will carry forward for several months the market will ebb and flow upward and then it will crater. Just look at the drop today in the market due to the arrest of the Hawei CFO, 100% emotion. As for Gold the damn thing has not moved much for 4-5 years. I got in in 2007 through 2010 but then the prices started an artificial rise from what I could tell ..still watching it closely
Click to expand...

I’ve been short corporate junk bonds (via SJB) for a year or more and it’s finally moving up a little. When the crash comes I think the Fed will eventually have to go back to QE, maybe they’ll buy up the cratering corporate bonds?

Metals can’t start a bull market while the Fed is raising rates and dollar is in an uptrend, one of those has to change. I don’t mind the low prices lasting for a while since I didn’t start to get in til 2015.
 
I bought 3000 shares (about $700 worth) of a gold miner stock today (CTNXF), and it shows only 3000 shares have been traded today - mine was the only trade of the day, lol.

I guess it's a sign the gold market is truly dead.
 
Varmint said:
I bought 3000 shares (about $700 worth) of a gold miner stock today (CTNXF), and it shows only 3000 shares have been traded today - mine was the only trade of the day, lol.

I guess it's a sign the gold market is truly dead.
Click to expand...
Mining stocks are not an indicator of the Gold Bullion market. Share or Stock, you own paper and Mining Comps have been misaligned from Gold for almost 10 years. Ton debt, CEOs bloated salaries, high operation costs etc.. IMHO Bullion is the better path, plus its liquid.
 

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