/biz/ - Business & Finance

>>53561317
I tried to sell a 20g bar the other week.
Kikes tried to jew me by offering £820.
Ramsdens didn't want to know.
What the fuck.
If I knew it was this difficult to sell fucking gold, I wouldn't have bothered.

>>53561402
Paperchads win again. It takes 1 second to sell GLDM

>>53561464
Yeah but... you dont actually own any gold...

>>53561317
What is the DXY?
Not even worried, if you are watching the daily action on gold you are doing it wrong.
Central banks still buying in record amounts, just chill enjoy your life and keep stacking.

>>53561317
you worried about something?

>>53561579
Why would I want to own gold? You every tried selling that shit?

>>53561649
giga kek

>>53561615
This is what I’m clinging on to but seems like the same fun and games are being played.

>>53561649
I’m pretty sure the intention of buying PM isn't to flip it for more paper.

>Bought the shiny rocks.
>Ngmi

>>53561402
Wrong time to sell homie.

>>53561649
I sold 1kilogram recently and paid fucking 2% for the privilege.

It's a scam.

>>53561317

You are supposed to keep it until society collapses so you can trade it for toilet paper. If you don't think society will collapse, why the fuck are you investing in gold?

>>53563786
Ask the central banks why they keep buying gold

>>53561402
>>53561464
>>53561649
>>53563566

Let me interject for a moment, what you are referring as "selling" is in fact "buying", you see because gold is money, when you exchange it for fiat, you are buying a deprecating get-out of jail token.

isnt the point of buying PM's to buy and forget about it for like decades? if you guys are gonna watch price every day may as well just trade crypto or equities

>>53561317
all gold frens should collect gold coins and not bullion.
gold coins are like art and you can get pleasure from them.
the point is to pass them on to your kids.
gold is insurance.
you shouldn't be trading in and out of physical.
in 2009 during the GFC i sold my gold coin collection and lived off it for 2 years.
Building it back up again since then. Love the US buffaloes.

>>53561666
checked and kekked

>>53563824
The fuds will never respond to that.

Fell for the shiny rocks HAHAHAHAHA

>>53561317
nothin personal kid, it's just business

>>53565161
^

>>53563858
based and enlightened

>>53563786
Hey faggot, answer this man here: >>53563824

You can't because you and I (and other anons with attention spans greater than 15 minutes) know that central banks in Europe, Russia, India, and China have been on a gold buying frenzy since 2020, and JPM has been silently salting away vaultfuls of silver bullion despite using their position as COMEX custodian to depress its price. I think I'll stick to watching what banks do instead of listening to what they say.

>>53568787
>to depress its price
Sounds like it would be stupid to buy precious metals, in that case.

>>53568950
Anon, think. Or at least pretend you can argue in good faith.

If you were one of the largest commercial banks in the USA, and had the ability to functionally dictate the trading price of silver, why would you keep it low while buying? Clearly so you could buy more, until the day people call your bullshit or the market shortages force a price discovery you can't control. On that day, you can now unload and take a massive payday.

But the way there, so long as you can run the futures price, you'll make billions in a year swinging the price and trading on movements you created. Even when the SEC fined JPM's metals desk for this, it was less than what they pulled in over 1 week.

>>53561579
>you dont actually own any gold...
I own gold.

>>53561402
Please explain this shit to those poor silver stacking bastards.
I love shiney but I get stuff I think is cool.
I've recently found some estate auctions and started snagging gold jewelry.
Some dipshits overbidding but can still catch good deals. Paid half melt for a 7g bracelet last month.
Even the Jewmaster General will have to give me some profit if I ever sell it.

>>53569019

>>53569052
>Please explain this shit to those poor silver stacking bastards.
You can make money selling silver for spot plus dollar amount over spot dealers offer.
You just fucking suck at trading.
>>53569052
>but I get stuff I think is cool.
You're paying way more for "cool" stuff, basic bars, coins and rounds can be sold for more than what you bought them for.

>>53561317
PM bros don't use the S word

>>53569078
This must be bait, right?
Premiums go up every time the metal price goes down. Add shipping and you're never breaking even.
No dealer is paying over spot unless your coin has intrinsic value beyond that of the metal.
That's why I buy stuff I like. Because that Premium is worth it to me. An extra 10% over melt on a bunch of silvertown rounds ain't worth the appreciation I will gain from a new Wastweet proof.
Even the jewelry has value as jewelry. So I'm doing even better when my price is half the melt value.
You fucking suck at stacking. YWNBR

>>53569019
How do you suppress the price by buying more?

>>53561317
Just another rug-pull for PMs.
They've been going up because the dollar was weak, but that's changing now.
Get out of PMs, they gonna get walloped again.

>>53569186
I mean this is the nicest way I can, but are you unfamiliar with how gold and silver have their prices set? In all commodity markets where contracts are traded, there are a few more contracts representing that tanker of oil or boxcar of wheat than really exist. This is okay in that it allows markets to function with less friction, but in the PM markets for "Some Strange Reason (TM)" there are orders of magnitude more contracts for silver and gold traded than there are contracts worth of the metals produced. This means that instead of the underlying commodity setting the spot price, the derivative instrument gets to set the price of the underlying commodity. Its retarded, I know.

As long as there is a physical supply available with COMEX or LBMA this can continue, and JPM can make regular orders to take physical delivery on some of the futures contracts they purchased, while using the other 98% of contracts to manipulate price.

>>53561402
You’re meant to hold it for when shit hits the fan. It’s not supposed to be flipped.

>>53561579
If you buy XAU you actually own every gram of gold you can buy, plus it's redeemable