Gold Price, How Low Will it Go??

I have the gift...LOL

 

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I remember Big Time as a kid, had the pretty purple wrapper!

 

Gold spot prices may be lower, but go over to APMEX or another big dealer. Is anyone in our group stupid enough to pay $200 over spot for a 1 oz. American Gold Eagle?

 

That's very high. I wonder how many dealers got stuck with high-cost inventory and refuse to cut prices ?

I see AGEs weekly in the BARRON'S MW section and they are at a 7% premium ($115) and even that is high relative to historicals. Shop around, or buy other 1 ounce gold coins, and you'll cut that premium.

I have to go to my LCS and see if his 3-4% premium is still in tact.

 

I don't know whether I'm stupid enough, but I'm definitely too doggone cheap.

I've bought nearly all my gold either at or below spot, opportunistically. That's one reason I don't have very much gold. It's also a shame that some of that happened when spot was considerably higher than it is now...

 

The premium drops about $100 with krugerrands and kangaroos. What keeps the AGE so high? I assume it’s because the mathematically challenged are willing to pay it, though I can’t picture why.

 

Higher liquidity and demand. I think for the 1.2 ounce Mexican Peso the premium is about 2-3%.

 

It’s worse than they are telling and it will get worse soon.

 

"Like many other countries the US economy is in the toilet"

I will have you know that we are not like other countries - The US economy is the BEST in toilet in the world. We are the floater of the world.

 

99.50 FV Silver quarters and dimes trade for 1 oz AGE. Instead of paying the premiums. It was tested and legit did the trade. This is the only way I can obtain Gold because if I took 2,000 out, she would probably notice that withdrawal and start asking, this way she has no clue. I like keeping it that way....(Clueless)

 

What is ?

 

The economy and that’s what drives the PM’s.

 

https://catalog.usmint.gov/american...T1Q_REAAYASAAEgIDCPD_BwE&gclsrc=aw.ds&start=1

 

That's a little more than a $200 premium if my math is any good ...

Of course, the Mint bought the gold at an earlier price in order to mint the coins, so they already have a fixed cost associated to them.

 

That's also a limited-mintage issue, so not really bullion, at least in the Mint's opinion.

 

Well, there's no secrets right now...inflation is high and it isn't likely to go much lower near-term.

 

It’s going the other way.

 

Has anybody here experienced liquidity problems with kangaroos, krugerrands and Canadian maple leafs versus gold eagles?

 

I'd be curious too about this..

 

You think it's going HIGHER ? I think that's an outlier....the components making up inflation/CPI ease off in the next few months, although housing (OER) will surge.

Ironically, higher inflation might hurt gold as it would raise nominal interest rates.