Gold buyers slowing down

[Pipers]

I have noticed on the trade section Gold is not selling as quickly as it was a few weeks ago.  This maybe because the spot price is high, people haven't got the funds or they are looking elsewhere for value!  I have also noticed some not all sellers are asking high prices  compared to spot for their Gold even more than bullion Dealers are pricing coins up for.  Anyway I will be looking closely at the gold  price and the buy/ sell section and dealers stock lists to see if Gold is becomming to expensive for the average buyer. One thing is for sure the % above spot for 1o/z gold will not stay at the levels they have been the last few months, i can see lot of profit taking coming now.      

[goldmember44]

I don't think gold is too expensive at all, it still has a lot of legs to run this year. The only reason you see less activity at times is because nobody has unlimited funds to buy, especially in these virus days...  also, items people are looking for specifically are not always up for sale. Usually sellers try to clear their least desirable products first.

[silvernewbie]

I bought my gold last year, when prices are suddenly sky high will not attract people into the market they will be waiting for a retrace (maybe incorrectly).  Silver is much better value.  

[fehk2001]

there are quite as few wanted post that means people still want to buy gold , BUT they only says e.g as cheap as possible 

some of them will offer you less than spot price 😆 ( that was last year )  by as much as 10% , so nowadays I normally ignore those post  and sell it else where 😄 

 

[Xander]

Still, there's plenty gold for sale on the forum.

[Pipers]

20 minutes ago, fehk2001 said:

there are quite as few wanted post that means people still want to buy gold , BUT they only says e.g as cheap as possible 

some of them will offer you less than spot price 😆 ( that was last year )  by as much as 10% , so nowadays I normally ignore those post  and sell it else where 😄 

 

Who was it who offered you 10% below spot? Name and shame! You can get 95% at any dealer even for scrap and 98% for coins and 99% sometimes.  Also i have noticed some cheeky b-ggers  try to flipflop the postage or they post it signed for instead of special delivery even if you pay for special delivery.

20 minutes ago, Xander said:

Still, there's plenty gold for sale on the forum.

Yeah there is but a lot of it i checked and i can get cheaper from dealers. 

I want to make a point here guys, people can sell there gold for what price they want; its just i was making a point i have noticed the prices going up compared to spot eg the % above spot has increased.  Also i have noticed 'some' low balling and buying coins only to try to sell the very same coins at a vastly increased profit at  10-15% above spot a couple of weeks later.   

[sixgun]

The wanted posts are overly optimistic - i would be surprised if any deals at 'spot' are completed.
i have bought some bits of silver off the forum from a certain member but outside that nothing. The premiums for me are too high.
The premiums are higher than in past times for gold as well so i am not buying at the moment.

[Xander]

2 hours ago, Pipers said:

Yeah there is but a lot of it i checked and i can get cheaper from dealers

The only one I usually find cheaper from time to time is Chards. Do you know of anymore? 

[Allroad]

12 minutes ago, Xander said:

The only one I usually find cheaper from time to time is Chards. Do you know of anymore? 

 

 

 

Baird is usually cheaper than anyone in the UK.

[Zimmerman]

Bairds is the cheapest I have found recently £361 For a full sov delivered if you order now. 
 

[Prophecy]

Gold purchase activity usually happens around pay days which are near the end of the month. I obviously don't know the stats in here but I follow quite a few people I know from here and personally and others on BullionVault audit and indeed it goes up every payday.

The premiums in here seem to be on par with dealers or better but it has to sensible absorb any price movement or the seller would have to update the prices every minute... (until chrissilver creates a spot price tracking mechanism in here for sellers) which at the moment with the price rising all the time would be a chore.

[silvernewbie]

4 minutes ago, MrGeorge said:

Ive been having trouble lately getting my usual monthly gold for 1% over spot. If anyone has a good contact at one of the bigger companies could you PM me looking for around 33oz this month 

Woah u buy 33oz of gold a month?!

i agree dealers are cheaper than the forum, hgm and chards had sovs for 340-350 last week, bairds are expensive.  Sharps pixley used to be competitive but no currently

[Prophecy]

1 minute ago, silvernewbie said:

Woah u buy 33oz of gold a month?!

i agree dealers are cheaper than the forum, hgm and chards had sovs for 340-350 last week, bairds are expensive.  Sharps pixley used to be competitive but no currently

It happens. I'm looking for 100oz. Words on a forum.

[OriginalS]

Dealers aren't cheaper than the forum at all, maybe in normal times but I sold a sovereign for £335 last week, the cheapest sovereign from the main dealers was £341 at the time

[Prophecy]

11 minutes ago, MrGeorge said:

No not every month lol. Just this month haven't bought much gold at all this year. After i get this month in ill probably get 10oz a month but usual place has went from 1% above spot to 4% and its pissed me off ive bought a alot of gold from them ovr the past few years. 

bad timing for your 33... better late than never though

[Tn21]

Not too long ago here on the forum we were questioning a Sov priced in the £230 region (H&B early on days), I would say less then a year on @ £350 for a Sov there is still an appetite for it.

 

[goldmember44]

Some people will always be waiting for a retrace in the price. Some have been waiting since £1,000, saying they wouldn't buy before it has retraced to £800. Well, these kind of people have missed out big time on the recent moves. Don't get used to a certain price level. Gold is now in a bull market and it seems £1,500 is just around the corner.

[OriginalS]

28 minutes ago, goldmember44 said:

Gold is now in a bull market and it seems £1,500 is just around the corner.

I think £1500 is an inevitablity at this point, I know I'm not purchasing anymore gold for a few months 

 

And Silver has just broken £14

[Stu]

5 hours ago, Pipers said:

I have noticed on the trade section Gold is not selling as quickly as it was a few weeks ago.  This maybe because the spot price is high, people haven't got the funds or they are looking elsewhere for value!  I have also noticed some not all sellers are asking high prices  compared to spot for their Gold even more than bullion Dealers are pricing coins up for.  Anyway I will be looking closely at the gold  price and the buy/ sell section and dealers stock lists to see if Gold is becomming to expensive for the average buyer. One thing is for sure the % above spot for 1o/z gold will not stay at the levels they have been the last few months, i can see lot of profit taking coming now.      

I'm not having a go, but I think I remember that a few years ago you were trying to eek out  a % out of the buy sell spread by way of placing wanted ads. I mind thinking at the time, is it worth attempting to save £4/ £8 pound on a deal when you believe the price will rise 50 or 100% within a few years. Here we are in this situation, were those sales ads for £800/£900 etc an ounce at time really worth knocking back for less than a percent?  That said, for all I know you may have scooped up,all the metal,at the price you wanted, but I would think it unlikely.  

Here again you appear overly concerned with premiums. I'm not buying now as I hope I have enough metal. If I thought I did not, I would keep buying, regardless of today's spot price or premiums asked. 

 

[KevjustKev]

As OP said 'a few weeks ago' a few weeks a go was payday for most people

[Pipers]

There are some on this forum who buy on dips and will buy upwards of 5 - 10 oz at a time 3 times a year it's just different strategies.  If buyers use the dip strategies the forum does not provide enough gold cheap enough.  There are a 2 buyers I know who buy substantially more than what I have talked about, they have been buying vaulted gold and untill premiums come down.  Note they are still buying!   

 

 

 

[shawy2510]

I can assure you the buggers were buying all the coins I wanted at Heritage Auctions last night. I got 3 out of 6 coins as prices were insane. 

[Pipers]

6 hours ago, Stu said:

I'm not having a go, but I think I remember that a few years ago you were trying to eek out  a % out of the buy sell spread by way of placing wanted ads. I mind thinking at the time, is it worth attempting to save £4/ £8 pound on a deal when you believe the price will rise 50 or 100% within a few years. Here we are in this situation, were those sales ads for £800/£900 etc an ounce at time really worth knocking back for less than a percent?  That said, for all I know you may have scooped up,all the metal,at the price you wanted, but I would think it unlikely.  

Here again you appear overly concerned with premiums. I'm not buying now as I hope I have enough metal. If I thought I did not, I would keep buying, regardless of today's spot price or premiums asked. 

 

No it wasn't just a few years ago, a few months ago to.  Any way I'm not the one who goes about low balling when people put sales prices out I mean not just a few quid as the gentleman said 10% under spot offers!  I don't even bother looking at some sellers ads anymore as I know they are over priced for what they are selling. 

Stu I don't think I will show and tell everyone how big is my stack and I have been buying gold a long time to know that I got the gold I wanted the weight I wanted at the best price at the time from people I trusted, well most of the time. 

It gets me that the forum members will buy the membership and then pay more for goods.  I am not the only one who thinks this.  

Not talking about you Stu,  

I would also like to say it's not me who sends out parcels first class signed for when I have paid for special delivery!  So who is the cheap ass!  

 

 

[Stu]

1 hour ago, Pipers said:

No it wasn't just a few years ago, a few months ago to.  Any way I'm not the one who goes about low balling when people put sales prices out I mean not just a few quid as the gentleman said 10% under spot offers!  I don't even bother looking at some sellers ads anymore as I know they are over priced for what they are selling. 

Stu I don't think I will show and tell everyone how big is my stack and I have been buying gold a long time to know that I got the gold I wanted the weight I wanted at the best price at the time from people I trusted, well most of the time. 

It gets me that the forum members will buy the membership and then pay more for goods.  I am not the only one who thinks this.  

Not talking about you Stu,  

I would also like to say it's not me who sends out parcels first class signed for when I have paid for special delivery!  So who is the cheap ass!  

 

 

If I had an issue with postage like you describe, I would have no issue with asking for the difference back. Also, in making it public knowledge if sure it was not a genuine mistake.

i think @arshimo2012 sets the gold standard here, as far as reselling goes.

 

[AppleZippoandMetronome]

I want to buy more gold but the spot price does concern me. Two years ago it was £954.20/oz - right now as I type this its at £1455.67 an increase of over £500 and over 50% in only 2 years. That is insane growth so one does have to seriously consider how long it can carry on. Was it simply under valued then or is it becoming over valued now? I'm not so sure. Long term it probably doesn't matter but I'd hate to buy in at these prices only to see it drop down a couple hundred £s/oz.