Was making some content flicking through ten australian online bullion sellers showing their spot price then lastly referencing reputable charts. Price varied 1-2 cents during process, and the spread was up to 30c, with Jaggards and ABC being wildly above, most being 5-10c above and Swan , KJC(!?!) and Ainsley actually being accurate. So. There is much i dont know, and much i dont want to know, in regards to dealing with metals, but why cant bullion dealers read from the same hymn book. I understand they have differing reset time periods, but im not talking about their products or premiums or anything to do with that reset of product price. I was only reading their stated spot prices at top of screen. I think it would lend some credibility to the industry if there was uniformity there. But im all ears, why are the spot prices almost all different?
Silver Price Watch
- Thread starter STKR
- Start date
It would come down to individual business decisions. Bullion dealers hedge their physical stock and work on margins that a pretty small in the big scheme of things. By having a buffer between their spot price and actual spot, they're less likely to lose money between the time of sale, hedging and restocking. ABC Bullion are big fish in the Bullion market. They're also a massive refinery that handles a good portion of metals mined in Australia. No dealer that I know of actually claims the spot price on their website is the actual spot price... It's just what they've set their spot as for retail sales. Keep in mind that ABC offers 'pool allocated' metal purchases with extremely low margins, so this is probably a factor to why they have a 30c variation. I'm unsure if jaggards offers this service but they are just down the road from ABC and probably view such a move as being in-line with their competition.
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So, I was just looking at the 1h,4h, daily and weekly charts and everything is lining up. Looking back over 20 years and you can count moments like these on your hands. I don't think people realise just how significant this time is for Silver. If we smash through $30USD and beyond, there have only ever been two other moments like this since the removal of Silver and Gold from our money. This moment we're living through right now has the potential to change the Silver market forever. Pretty fkn exciting if you ask me!!
I'm wondering if they're in a position to. I mean, the upcoming $30 mark is exactly when I'd do it... But we may actually have a physical supply shortage, and they could risk International trust in their price discovery. We're already seeing a divergence between Shanghai and the Comex. Without the physical metal to tame the hungry consumers, holding Silver's head underwater would be a nail in the coffin for them. To think there aren't many other markets that could force that play. Silver really feels like the Achilles Heel of the system right now!^^^ Then there are the evil bankers on wallstreet that have other plans about your predictions! In an instant the POS could be smashed to what ever they choose. These pricks play for keeps, remember that.
majority of people see the highest prices in their own currencies for metals, so they do not see it in dollars
retails enter in fear of missing out, they went into the recent high, get dissapointed when it drop a hundred dollar, now they are back in good spirit again.
retails enter in fear of missing out, they went into the recent high, get dissapointed when it drop a hundred dollar, now they are back in good spirit again.
Fuck ... when i 1st read that post, i translated "POS", to (pieces of shit), and i was totally ok with that .^^^ Then there are the evil bankers on wallstreet that have other plans about your predictions! In an instant the POS could be smashed to what ever they choose. These pricks play for keeps, remember that.
But, as usual with me, coz i'm a little slow, went back and re-read, as you do, then realised
POS = price of silver
Anyway, thanks.
Jayzissss... imagine the future... cold...... dry..... anyway Chappies i have another question seeing as my last one was answered so well (A: there is no such thing as spot price, it is whatever you want it to be) Because im too lazy to research the answer , my question is why do people say there is no resistance above 30 usd. What is the logic there. The guy that got kicked out of the bar in Wasp's 'Blind in Texas', and others, have implied that if the peice of shit cracks $30 then the sphincter loosens and silver shoots to the moon assuming we have our heads in the sand. Whats the deal, why so. Wouldnt it just go to $31.60 then back to 27.50, then back to 30, then maybe it will SOAR to 33.10 then all those unmarked sprinter and veto vans with desperate teams of hivis nobodies lurking about will get proper uniforms and tasers and confiscate it because it turns out pm's are unsanitary. There is a question somewhere in that rant.