Gold Monitoring Thread £ GBP only

[sovereignsteve]

1 hour ago, goluckystayhappy said:

Is gold getting to expensive for people to buy. I have advertised a number of one ounce gold coins at spot including delivery, even offering a free Proof silver 1 ounce eagle with a gold ounce at spot but no takers.  Gold listed at spot used to sell almost instantly but now there are no takers.

Less people will.be willing to buy at these higher prices, preferring to wait for a dip but that might not come😉

Also there have more sales offers which is to be expected as some people take profits.

[Paul]

1 hour ago, goluckystayhappy said:

Is gold getting to expensive for people to buy. I have advertised a number of one ounce gold coins at spot including delivery, even offering a free Proof silver 1 ounce eagle with a gold ounce at spot but no takers.  Gold listed at spot used to sell almost instantly but now there are no takers.

I have listed 1oz gold coins for spot in the past at much lower than today and get no takers

It seems the 1/4oz / sovereign / half sovereign / 1/10 is the "sweet spot" for forum sales, im my experience

Someone is willing to risk a few hundred quid on a forum deal, when it gets into the four figures, not so much. It's just how it is 

Speaking for myself i would just go to a reputable big-boy bullion dealer and pay the £10-£20 extra for the security it gets 

i.e. you always know you are real deal without risk when buying direct from Royal Mint or Baird

[goldking]

2 hours ago, goluckystayhappy said:

Is gold getting to expensive for people to buy. I have advertised a number of one ounce gold coins at spot including delivery, even offering a free Proof silver 1 ounce eagle with a gold ounce at spot but no takers.  Gold listed at spot used to sell almost instantly but now there are no takers.

No gold stacker is interested in getting worthless 'free' silver, proof or not!  They'd rather you kept the silver and reduced the price of the gold accordingly.

With regards your selling troubles, I object to your comment "there are no takers".  I had the money waiting to buy krugs from you that you'd struggled to sell and told you how many I wanted.  You sold me 2, told me you had more, then went radio silent on me for 2 weeks when I repeatedly asked about the others.  Funnily enough after spot price spiked up by a significant amount you contacted me to let me know you were ready to sell, of course wanting me to buy at the new price  . Nothing wrong with selling at spot but to offer them at x price then to effectively withdraw them from sale and ignore the buyer because you can see the spot price moving up and then expect to fleece them for an extra £30-40 a few weeks later doesn't sit well with me I'm afraid.  While your paper gains I'm sure are nice, you'll have a much harder time finding a buyer at spot when the price is currently increasing by £10+ a day as people will be holding out for it to drop back down.

[sixgun]

3 hours ago, goluckystayhappy said:

Is gold getting to expensive for people to buy. I have advertised a number of one ounce gold coins at spot including delivery, even offering a free Proof silver 1 ounce eagle with a gold ounce at spot but no takers.  Gold listed at spot used to sell almost instantly but now there are no takers.

As i posted in the last few days there is a lot of gold coming into the sales section of the forum - i have seen this when the price of gold gets high - members looking to take some profits. In previous years it has been the right thing to do most times as gold then drops.

So buyers could well be out of cash to buy - you can only buy so much. i bought my brother's 4 coin Britannia set off him - that blew a chunk of change so i'm not able to buy much more if any more right now. It could be other members are in a similar position.

The price would not get high if people weren't buying the price up. In my view gold is cheap and we have been spoiled for a long time - everyone i hear who is in touch with the wholesale large volume market - the tonnage market have said the price of gold is a lot higher; the retail price is i would say at an artificially low price.

Edited February 21, 2020 by sixgun

[swanky]

I will chip in with the viewpoint of a buyer with funds, for what its worth. Although I am building up my bullion stash and could buy more, I feel it prudent to pace myself and spread purchases out. There does appear to have been more gold listed in recent weeks, but not necessarily more buyers.

@sixgun I am curious about your experience with wholesale prices differing to retail. Is this because of additional costs for insurance and shipping?

[sixgun]

2 minutes ago, swanky said:

  
@sixgun I am curious about your experience with wholesale prices differing to retail. Is this because of additional costs for insurance and shipping?

i was in contact with Andrew Maguire through a close friend of mine and in contact with another chap in London. Both have said the price you have to pay for large amounts of gold is much higher, £100's higher than the retail price we see. It is to do with scarcity.

i think the retail market is artificial - it follows the spot price which is of course a paper price. We will see adverts soon for selling your gold - when the public starts getting interested there is trouble for the fat controllers. You only need people wanting to buy a sovereign or some other bit of gold and there will be no sovereigns. It is not to do with insurance/shipping - it is it is just hard to get your hands of a tonne of gold that is physically and immediately delivered. So much tonnage gold in the West has been leased and sold and pawned out, it isn't available to actually sell and someone actually turns out and takes it away. When the demand is not there there is enough new gold coming through but when the demand shoots up there is a problem and prices naturally rise to big premiums.

[Paul]

On 15/01/2015 at 16:15, Paul said:

Well Silver has its own thread for daily ongoing discussion, so we may as well have one for Gold to !

5th November 2014 Gold bottomed at its low for 2014 @ £718oz

Now today just two and bit months on @ £832 

I not to shabby turnaround in such a short space of time, nearly 14% appreciation!

My starting post on this thread ! 

We gonna break the all time high of £1,278 today ??

[Becca]

5 hours ago, goluckystayhappy said:

Is gold getting to expensive for people to buy. I have advertised a number of one ounce gold coins at spot including delivery, even offering a free Proof silver 1 ounce eagle with a gold ounce at spot but no takers.  Gold listed at spot used to sell almost instantly but now there are no takers.

I myself am new both here on the forum and as a collector/stacker. On a personal note I ignore your sales posts which seem to continually pop up with Spot plus postage in the title because I get the impression you are playing the game. As the spot price has climbed it seems to me as you have climbed on. I thought todays offering of a free coin was hideous to be frank but just my opinion and am sorry if it offends.

B

[Robda1986]

With gold where it is now @ 1268 I'm tempted to chop my sovereigns in and get silver and play the ratio game right now I can swap 4 sovs for 2kg of silver but that being said I'm thinking hold off till its more along the 1500 mark if it don't get there I'll keep em 

[GoldElliott]

whilst I do find posts quoting prices as spot (+ a percentage) confusing and less straight forward than just picking a price a sticking to it, I am curious as to how offering a free coin is hideous 😂

[5huggy]

1 hour ago, Paul said:

We gonna break the all time high of £1,278 today ??

And I "REALLY DONT have a problem with that "  😉 🙄 🤣 🤣 🤣

[swanky]

The issue I have noticed with gold posts selling at a specific price, rather than quoting "spot", is if the spot price increases then the seller may ignore all potential buyer messages (one recent example of this), and if it falls then there are no buyers. A gold advert can be open for weeks, and in that time the spot price can move significantly up or down. Quoting spot is practical, and not difficult to calculate.

[Becca]

8 minutes ago, GoldElliott said:

whilst I do find posts quoting prices as spot (+ a percentage) confusing and less straight forward than just picking a price a sticking to it, I am curious as to how offering a free coin is hideous 😂

It just makes me think  "please buy me" 

If you dont want to spent 1300 on a washing machine giving you a box of daz is not going to change your mind

 

[GoldElliott]

1 minute ago, Becca said:

It just makes me think  "please buy me" 

If you dont want to spent 1300 on a washing machine giving you a box of daz is not going to change your mind

 

Good analogy and true, but I guess when gold is as high as it is every man and his dog are trying to cash in and throwing in a free coin might help differentiate oneself.

[goluckystayhappy]

No offence taken Becca.  The free coin was also not just any old ounce of silver but a 95 Proof Eagle that matched the year of the Gold Eagle and they sell usually for £40 - £50.  

I have also noticed some old posts being resurrected as spot has increased like the Clarence Bulls at £1220 ones from a few weeks ago, that why I usually say spot.  An ounce of gold is always an ounce of gold, it the value of the £ that is changing.😃 

[Becca]

@GoldElliottLike a toy with your nuggets you mean (pardon the pun)

Edited February 21, 2020 by Becca

[Dobber]

6 minutes ago, goluckystayhappy said:

I have also noticed some old posts being resurrected as spot has increased like the Clarence Bulls at £1220 ones from a few weeks ago, that why I usually say spot.  An ounce of gold is always an ounce of gold, it the value of the £ that is changing.😃

I agree, I had PM'd the seller but with no reply, it's still on for £1220, if they don't want to sell at this price then they should update the listing or remove it, not ignore the offers, just leaves a bad feeling & am less likely to buy from them in the future.

[sixgun]

i said we would start to see adverts for selling gold.

Not noticed Atkinson's put this up before - they probably have but interesting - i wonder if there is tightness in the market.

[Roy]

9 minutes ago, Dobber said:

I agree, I had PM'd the seller but with no reply, it's still on for £1220, if they don't want to sell at this price then they should update the listing or remove it, not ignore the offers, just leaves a bad feeling & am less likely to buy from them in the future.

Perhaps he doesn't want to deal with a non-premium member?

 

[Roy]

5 minutes ago, sixgun said:

i said we would start to see adverts for selling gold.

Not noticed Atkinson's put this up before - they probably have but interesting - i wonder if there is tightness in the market.

Their prices are not bad. I think they'll do business.

They'll pay £1300 for a 1oz Lion!

[Dobber]

1 minute ago, Roy said:

Perhaps he doesn't want to deal with a non-premium member?

If that is the case, they should state that in the listing, or at the very least reply to messages with that in mind & not ignore them.

[Roy]

True. Perhaps he is sick.

[MickD]

Bit of an aside but I do like your alcohol quote @Roy 

I may have to borrow that

[vand]

@Wonger @Wonger @Wonger @Wonger

 

You have been suspiciously quiet in recent weeks.

How's those shorts holding up?

 

GDXJ has broken above last year's high. Another tickbox marked off.

[sovereignsteve]

42 minutes ago, MickD said:

Bit of an aside but I do like your alcohol quote @Roy

The plum brandy I make isn't😉