Gold buyers slowing down

[OriginalS]

Once again I'd love to be pointed in the right direction of a sovereign for £340 today, a sovereign for 2% premium in this market I'd bite the dealers arm off for it 

[Jimmy2trees]

54 minutes ago, Xander said:

I bought sovs on the forum lat week for £330. The last gold coins I sold on here were for spot.

Spot is misleading when it comes to value. I recently bought 4 Kruggs for £1140 spot. Now a month or so later the same coins are £1417 spot. where is the bargain?...for the seller, of course.

It's like petrol, buy at the cheaper price, sell it at the inflated price a month later. 

 

It's not like petrol at all and you can't compare their value in terms of price movements

Petrol is a single use consumable commodity whose value is derived from its utility and its ability to do stuff

Gold bullion's value is derived from completely different properties 

Their prices are both subject to supply and demand and their respective markets provide a mechanism for price discovery (ignoring market manipulation).

Sometimes the prices go up, sometimes they go down but their intrinsic value remains unchanged.  Fear and greed are the main driving forces of all markets

[Xander]

On 21/05/2020 at 11:18, Jimmy2trees said:

Gold bullion's value is derived from completely different properties

The comparison was more of an illustration as opposed to an analogy.