Why not buy gold through a coin dealer with cash.
Then bury it.
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Physical Gold - Paper Gold has MASSIVE Divergence
- Thread starter AMT4SWA
- Start date
Why not buy gold through a coin dealer with cash.
Then bury it.
Regardless, the enormous amount of gold and silver shorting (increased by tenfold in July-August) is naked shorting in many cases. There's no way all that gold could be delivered. Dealers have to wait months to get physical gold, and pay a premium way over the spot price.
Quote from jeb9999:
The COMEX warehouses as of 10/07/08 have 8,594,917 oz of gold. Is that enough for you?
If you have the cash you can buy all the 100 oz gold bars you want. It is the small stuff that is in short supply.
Quote from Cutten:
Where's the source for these physical prices massively above "paper" prices?
Try to buy physical gold. US mint has stopped production, most all coin/gold dealers are out of physical inventory, if you can find bullion, you will pay $60,80 or higher over spot.
There is no physical gold to but at the moment.
Quote from AMT4SWA:
That would be awesome imo.....I bought paper positions for almost 3 years that I cashed all out as we broke above $1000 (scaled out from $1000 on up). As gold prices retreated off those highs, I started buying physical from $750's and below. I am hanging on to my longer term physical gold positions for what seems to me to be an inevitable parabolic move in the next 12 to 24 months.
2000 USD Gold in a major deflation? How is that going to work???
A few years ago you'd call the coin dealer and if you wanted pre 1930's gold coins, they'd be $25 over spot in AU or UNC condition, and you could literally buy 1000 of them if you had the money. The same coins are now $150 or $200 over spot today, and you'd be lucky to find someone with 5 of them at that price.
My guess is there will be a lot higher percentage of Comex buyers taking delivery as time goes by, because its the only place you can actually find metal anywhere close to spot.
My guess is there will be a lot higher percentage of Comex buyers taking delivery as time goes by, because its the only place you can actually find metal anywhere close to spot.
Quote from Wallet:
Try to buy physical gold. US mint has stopped production, most all coin/gold dealers are out of physical inventory, if you can find bullion, you will pay $60,80 or higher over spot.
There is no physical gold to but at the moment.
There's 8.6 million ounces in Comex warehouses at the moment.
No offence, but an ET poster is not really a credible source. Got any links or info showing that there is no physical gold around? One would expect if there were such a shortage, then front month gold futures would trade at a big premium, whereas in fact they are at a discount. Spot prices are not massively above futures.
E.g. Oct Comex gold is 840 offered right now. Where is this $60-80 premium you are talking about?
Quote from Wallet:
Try to buy physical gold. US mint has stopped production, most all coin/gold dealers are out of physical inventory, if you can find bullion, you will pay $60,80 or higher over spot.
There is no physical gold to but at the moment.
Nonsense. There is no shortage of the standard 100 oz bars. If you have the cash you can buy all the 100 oz bars you want.