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Mints, Refineries, Brokerages Out Of Stock – COMEX Gold Inventories Plummet
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<p>[QUOTE="Blaubart, post: 1705056, member: 37498"]Because it's too much of a gamble not to. Bullion dealers, and to a certain extent coins stores, shouldn't give a flip about what the current spot price is because they earn their profits on the spread. Sure, prices dove faster than many dealers could sell, it happens. It doesn't look like it's about to shoot back up any time soon so they might as well move that inventory.</p><p><br /></p><p>Any dealer that keeps their inventory stashed away because the current prices are not favorable will be hurting big time if the prices continue to fall. Of course new inventory will come in and they'll sell that no problem, but that old bullion that they bought a month or more ago will still be sitting there, mocking them: "Can't sell that for less than I bought it for, even if it doesn't make any sense..."[/QUOTE]</p><p><br /></p>
[QUOTE="Blaubart, post: 1705056, member: 37498"]Because it's too much of a gamble not to. Bullion dealers, and to a certain extent coins stores, shouldn't give a flip about what the current spot price is because they earn their profits on the spread. Sure, prices dove faster than many dealers could sell, it happens. It doesn't look like it's about to shoot back up any time soon so they might as well move that inventory. Any dealer that keeps their inventory stashed away because the current prices are not favorable will be hurting big time if the prices continue to fall. Of course new inventory will come in and they'll sell that no problem, but that old bullion that they bought a month or more ago will still be sitting there, mocking them: "Can't sell that for less than I bought it for, even if it doesn't make any sense..."[/QUOTE]
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