Silver Is On A Tear Today

We’ll see.

 

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Do world markets ever really close? I really don't know, I'm curious.

 

You can with the stock market, I assume you can with commodities?
Someone is always buying and selling after hours or pre market which I am not in favor of. Because when something happens in either direction after the market closes, only the big shots can get out or get in and all the little people take it on the chin in either direction by the time trading "opens".

 

Money Metals is advertising a buy price of 50.28x, selling at 57.94x ($1/oz below spot, they say). First time I've seen a published buy price over 50x.

Still about a 13% spread. I don't expect to see that spread shrinking any time soon.

 

I thought it was the other way around - the big markets where the big players trade are closed on the weekends, but dealers and coin shows and eBayers will still be able to do their little retail trades.

 

Commodities are not just US markets, they are world wide. Like they say, it's 5 o'clock somewhere in the world. The sun never goes down in a global market. I just don't know where our quotes come from, exactly?

 

13% spread. Hmmm. Exactly what eBay's cut is. Sounds like a conspiracy!

 

I wonder how long it will be before the big dealers catch up on Buy prices? About 7 bucks below spot right now. And Seven to 10 mark ups above spot.

 

Prices will probably need to stabilize first. Lots of risk for buyers whose livelihoods are in the trade of buying and selling. As tempting as it is to take some profits, I think I'm going to sit tight a while before selling anything. I think it's only just begun.

 

Not really I think you have about 6/8 lag on the Asian markets I know my Son is 15hrs ahead in japan on CDT.I have looked at the Shanghai Market seems to have some movement.I focus on our market for the time being there's a bigger spread to in the Far East at times.

 

..

 

There is a one ounce silver round on the coin club auction tonight at $65 starting price.
It will be interesting to see where it goes.
If bought at $65 and sold on eBay at $80...
$80 Minus the 13% fees will put you right back around your buy price with eBay making more money than you did.
Not to mention the .gov would like a transaction tax on your projected income.

 

I think we're talking about different forms of silver. Again, the dealer I quoted is buying 90% around 14% or so below spot, and selling it around 1.2% below spot.

 

It is definitely confusing deciphoring what people mean with their definitions. Everyone has their own lingo, knows exactly what they mean, but that doesn't mean anyone else is on board with the understanding. That's not a knock on anyone, just how it is.

 

It’s not you brother. With a volatile commodity that trades on physical, ETFs & futures exchanges around the world, the language of money is complex. Heap on central bank purchases, currency manipulation, national debt, margin adjustment, index rebalancing. And that pesky supply/demand thingy

 

Yes, they have hours just like we do. You just need to remember the International Dateline. Sunday night overseas is trading but the US is closed until Monday morning. Overseas trades during our night. We trade during their night.

 

Coin club auction over... the one ounce silver round sold for $67.
The coin was a 2000 ISNA Indiana State Numismatic Association Silver Round in plastic packaging.

 

There goes another reason you don't auction silver. You set your price and either it sells or it doesn't. There will be a new day tomorrow.

 

Dang, somebody got a bargain!

 

That’s below spot. Someone got a deal.