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Old 08-14-2008, 10:31 PM
 
3,853 posts, read 12,033,340 times
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Silver is at 12.86/oz from a high of $20/oz and gold is 798/oz from a high of 1000/oz.

I've been looking all over for silver and cannot find anyone selling without very high premiums. My dealer is sold out of the cheap silver (spot+99c) and all he has left is very high marked up silver (ie. silver eagles for 20$+ each.) Everything he is selling is 5-6$ over spot. Same thing for gold(except marked up 40-50$).

I've never seen anything like this before.

Demand is definitely exceeding supply on bullion and bars. The spot price is artificially low. Looks like paper precious metals are collapsing because there is tremendous demand for physical.

Last edited by killer2021; 08-14-2008 at 10:41 PM..
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Old 08-15-2008, 03:10 AM
 
Location: Indore
7 posts, read 22,369 times
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it is still very much affordable, iam posting this after 6 months of you post.
toady Gold is $795.9/oz and silver is $13.6/oz
vik
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Old 08-15-2008, 04:56 AM
 
Location: Backwoods of Maine
7,309 posts, read 8,985,008 times
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Quote:
Originally Posted by killer2021 View Post
Looks like paper precious metals are collapsing because there is tremendous demand for physical.
Yep, that's what we've all been waiting for, no? A lot of investors won't say much...you have to watch what they're doing. We still have an ample supply of silver bullion around New England. If it dries up, I'll still go with the Eagles - I can get all the rolls I want at $400 per, and you know this stuff will go way above $20...

If they're not careful, the shorts are gonna lose their, uh, shorts!
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Old 08-15-2008, 07:54 AM
 
Location: Raleigh, NC
9,043 posts, read 12,008,221 times
Reputation: 1395
Quote:
Originally Posted by Nor'Eastah View Post
Yep, that's what we've all been waiting for, no? A lot of investors won't say much...you have to watch what they're doing. We still have an ample supply of silver bullion around New England. If it dries up, I'll still go with the Eagles - I can get all the rolls I want at $400 per, and you know this stuff will go way above $20...

If they're not careful, the shorts are gonna lose their, uh, shorts!
Went to apmex and I can't find diddly squat! No more kruggerands, and you have to pay 10 over spot for silver, over 50 over spot for Eagles!

Yeah, with coin dealers unable to replenish supply, I'm not going to be worrying all that much about spot price
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