I have been hearing allot of talk on social media about trading out GOLD for SILVER and i cant think of a more ridiculous idea, especially what i heard today from my LCS who operates 4 of the largest coin shops in Nevada and when i dropped by today to buy a 3x20 of ASE,S, so asked what his current buy back was and he said there not buying any SILVER and the includes ASE,S ! WTF !! yep he said until further notice no SILVER or scrap GOLD only 22k coin such as the eagle and krugers and of course 24k coins like the buffalo and maple and of course .9999 bars, so decided instead to drop the hammer on a 1 OZ GOLD Pamp bar.
She is meant to depict Lady Fortuna. Luck is blind to all... everyone gets lucky, or unlucky. In Roman times, she was often depicted blindfolded. https://en.wikipedia.org/wiki/Fortuna
Some people play the gold-to-silver ratio. I started a thread about this not too long ago and basically everyone who responded said it was ridiculous. The idea is... how many ounces of silver can you get for an ounce of gold? If you think that silver is going up and gold is going down, trade gold into silver. Play that ratio, whether you think it is going up or down. If you can buy an ounce of gold for 20 ounces of silver, and then sell it later for 40 ounces of silver, you've increased your stack! I don't play this way, but that's what he's talking about.
Prices went up way too quickly, the smelters are overloaded and not buying so all the coin shops have stopped the liquidation process! Prices of gold and silver are adjusting as we speak, some say the bubble has popped, that's one way to put it!
This was the sellers' deal......looking to trade 67 ounces of silver for an ounce of gold I passed. no way giving up 67 or so ounces.. keep your gold..
The GSR spiked up to 72 yesterday, and closed today at almost 64. I'm thinking that wasn't an insulting offer.
