It would take significant effort to sell 1 million of gold bullion and you'd be taking a discount if not a big discount for it. Very few companies have 1 million laying around nor would want to take that risk if gold goes down knowing they have to sell it all for a profit.
I’m sure there are a lot of refineries and banks that buy large amounts of gold on a daily basis. $1,000,000 isn’t even that much when you consider the total gold market. It’s about 500 oz of gold. Or about 1 monster box of American Gold Eagles. Even companies like APMEX & JM Bullion could likely buy a full Monster Box of American Gold Eagles at not too much of a discount. In fact JMB sells 80-100 1oz AGEs every day and makes a profit so I’m sure they or any big retailer could buy a monster box of AGEs without needing to rip off the seller to do so.
I get about about 36 pounds (avdp) and 52 cubic inches for $1M worth of 24K gold. You could fit it into a Small Flat Rate box if you cast it into the right shape, with room for a layer of bubble wrap. Your mail carrier would be very surprised.
All markets have limits, of course. I think the point here is that the limit for moving physical gold is likely well over $1M.
There's no limit to moving gold or really anything. The limit is the amount of effort and what price you will take. You can sell basically anything depending on what price you will take. Big PM dealers do hedge but they also dont make money by paying what someone would want whenever they want which was the point
The SPYDER Gold ETF trades about $1.7 billion in gold each day...futures much more....then other gold ETFs. I think you can easily sell up to $10 MM in gold daily without impacting the market if you sell it right. You have to be a smart seller/buyer. I once moved the Treasury market by doing a trade about 30 seconds before the Fed Wire ended at 3 PM. Bought about $900 MM in agency bonds and someone obviously hedged the purchase.
I don't see any action in coin talk since this. are we up and operating navyaiar123@gmail.com please let me know why I am not getting any notifcations
To a retail dealer or outlet, sure...but selling $1 MM in gold via the daily gold trading volume wouldn't be that difficult. You can also HEDGE by selling one of the gold ETFs short. Daily gold trading is about $40-$50 billion a day.