You could make a killing selling gold on ebay probably.
Sinner whatever the major bullion companies are supplying at i either match or do better.
But sometimes people just feel happy to deal with large companies like perth mint etc...
You could make a killing selling gold on ebay probably.
Sinner the problem with ebay is the price of gold is moving so much that waiting 5 days is just way too slow. (for bullion that is).
You can set the duration of the auction or even just have a "buy it now" item at set price with no auction at all. I've found auctions to be the best for selling gold though, people seem to invariably bid way higher than what they could've gotten at ABC or elsewhere. Which is why I suggested it.
Just go check it out, you will see what I mean. Demand for physical PMs on ebay is rediculous.
Welcome to Stage Two of Gold's Bull Market
Bull markets are marked by three distinct stages, and when gold climbed above $1,000, it only entered its second stage. In other words, gold has much further to climb in the months and years ahead.
So don’t be misled by what you may hear or read in the mainstream media and even much of the alternative media. After all, how many commentators have correctly identified gold’s bull market, now a decade old?
As Robert Blumen cogently argues: “Many of the financial media have a pronounced anti-gold bias. Of the writers and news anchors now calling gold a bubble, not only did they fail to identify the stock market bubble in the 90s or the subsequent housing market boom as a bubble, they actively promoted the excesses of those unsustainable booms, encouraging their viewers or readers to participate. For the most part, these pundits have failed to identify a rising gold price as an investment trend at any point in the past ten years (during which gold had a positive return each and every year).” Robert then goes on to observe the silly incongruity of their warnings about gold: “Witness the irony of the financial media transformed from hypesters who never saw a bubble they couldn’t promote into bubble vigilantes, issuing concerned warnings to ‘get out [of gold], now, before you get hurt.’”
http://www.lewrockwell.com/blumen/blumen19.1.html
There are different ways to determine relative value, and one of these is gauging market sentiment, which is what a bull market’s three stages communicate. During the first stage of a bull market, the media and most investors alike focus on past issues, rather than future potential. Over the past decade one consequently heard all the reasons not to own the gold.
An old and trusty adage says that bull markets climb a ‘wall of worry’. In gold’s first stage, there seemingly was a lot to worry about. But most of these worries were emotional in nature and not logical. Few paid attention to relative value, which is the proper determining factor when making decisions about your portfolio. Truth be told, I too was worried, but I didn’t let it keep me from accumulating gold and recommending to anyone reading my analyses to do the same.
Gold is now in its second stage, and of course, the worries don’t disappear. They never do because there are always emotional reactions that at first blush offer seemingly plausible reasons for not taking the right action. But there is a notable difference in this stage compared to stage one. Look how many people are writing and talking about gold. Gold has moved from apathy and neglect – stage one characteristics – to growing attention. But importantly, instead of embracing gold and analyzing it to determine relative value, today’s attention is one of widespread disbelief and skepticism that gold can climb higher. These are exactly the responses one should expect to emanate from stage two.
As gold climbs higher, we will eventually enter stage three. The timing of its arrival cannot be predicted, but we will know it has arrived when commentators who have been consistently wrong about gold will be telling everyone willing to listen to buy gold. But at some point in stage three when gold no longer is relatively good value, it is when I will be advising to reduce your gold holding by spending or investing it. We are, however, a long way from there, so my advice for now remains the same as it has been throughout this decade. Continue to accumulate gold. View it as your savings account. Savings are always a good thing, particularly when you are saving sound money.
by James Turk
golden waterfall!! its not looking too happy at the moment...
yeah for a trade a bounce is definitely an option from here, so would want to keep stops relatively close - but that's some fall, looks a little ominousThese last 2 hours will be interesting, perhaps a rebound?
Keep in mind that Central Banks are now buyers of gold and will not change their new philosophy because of a short term chart signal. That buying will undergird the gold market as it moves lower into technical support levels.
As far as those analysts ignorantly proclaiming that gold is in a bubble, they have no idea what a chart pattern of a market in a bubble looks like. Gold’s rise has been steady and strong with it picking up momentum only in the last month or so. The market is taking a well deserved rest, especially as we move towards year end and traders begin to square positions in front of the holidays. Besides, if gold is in a bubble, Central Banks such as India and China, who are looking to acquire more of the metal, must be dolts as well.
Nothing short of major changes to US deficit spending and US monetary policy which also deals with the structural problems of gargantuan indebtedness is going to cure what ails the Dollar. The US wants, nay, needs a weaker Dollar to enable to deal with its debt problems. Dollar strength will attract the attention of those nations looking to lighten up on their Dollar holdings and to do so in a matter which is least disruptive to the Foreign Exchange markets. Translation – Dollar strength will be sold.
Shortsightedness is the sickness that kills investors. Be wise and do not adopt the convictions of the short term one minute bar chart readers for they have none.
fingers crossed for you guys that Gordon Brown doesn't decide to get long
Oh dear, what happens when policies change? Gold is fvcked, buy all accounts here.
Bit late for our old pal Gordon Brown, as the Chancellor of the Exchequer he sold the UK's gold when it was between $260 and $300 an ounce and many have never forgiven him since. Gold is breaking new records now against the British Pound. So they prolly have little left with which to go short of long.
this is fom trader dans blog you posted as a quote a few posts ago
Explain how a weak dollar helps the US with it's debt surely a strong dollar helps them pay their debt
Weak dollar helps them pay debt because it lowers the 'real' value of the debt and increases the USD value of US productivity thus increasing their ability to repay their debt. (my rough laymans exploration).
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