Something wrong with bullion

The prices are actually rising a little? Has someone fallen asleep at the switch? I just sold 3 more calls on my GDX for march expiration at $17. Got 30 cents for each, they hit 38 today.

 

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Gold has been having a stealth rally since the stock markets went nutty after the first of the year. Gold was up, I believe, about $15 today.

 

And now a translation for those that are slow on the take of puts and calls (still trying to wrap my head around it. I get the concept, understanding the finances behind it still worries me).

At the end of the day, good - no? Yes?

 

Follow the money. Extremely large banks are buying and holding. Why? Because they know something we don't.

 

great deal on eagles govmint.com 2016 eagles $16.95 ea. order 10 free shipping .. limit 10 , but just keep ordering 10 at a time ... I did three times no tax no shipping beat that price

 

Ah to have money to spend when you can. I don't. Me is poor. Buy when I can which is rare.

 

Confirmed, just ordered 2 quantities of 10. We'll see if both orders complete and process.

Thanks for the tip Chuck!

 

That's an incredible deal right now. They must want to attract new business.

 

Weakening dollar?

 

According to Facebook poll, there's also a 67% chance of Zombie Apocalypse.

I'm researching market trends during the last Zombie Apocalypse. I think they called it Woodstock.

 

I heard the whole Occupy Wall Street thing was a zombie infestation, but maybe it wasn't a full on "apocalypse".

 

I AM SORRY THAT WAS $16.50 NOT 95

 

I just ordered 2 more , and got emails with tracking #s for 3 shipments

 

No...they are buying and selling for clients as a custodian. I see this nonsense all the time with regards to Citibank, JP Morgan, etc.

The amount of gold they hold as custodians, relative to their quarterly profits ($5 billion on average) or balance sheet ($2 trillion on average) are inconsequential.

People need to do their homework first !

 

WOW!! "($5 billion on average)" "($2 trillion on average)" "are inconsequential". WOW!! What figure does it take to make it consequential?

 

I try to sell my bars and coins to an individual but,no takers. I have a feedback score of 533 100% percent and offer a return. What am I doing wrong ?

 

Perhaps your price is to high just a guess I don't know

 

No...you misunderstood...it's the gold holdings and the potential profit from gold that are very small relative to quarterly profits or the balance sheet.

 

Which coins? Bars are PERCEIVED by many to be an unacceptable risk, as are many world coins. There is far more perceived safety in U.S. legal tender coins. Remember, many buyers calculate their "all in" costs. They want YOU to eat the shipping and insurance or they reduce their bids accordingly. This is why so much bullion buying is fairly foolish. Unlike equities, it has NO earnings, costs money to ship, BOTH WAYS, and to keep securely. Those nasty paper investments can sit for nearly free in your account statement. Physical bullion slowly bleeds you dry with costs, especially if your state taxes it at purchase. When you consider ALL costs, bullion in physical form is a pretty bad investment, unless you're convinced an economic collapse unlike any seen is coming. In that case, I recommend thorazine, not silver or gold.

 

Hey CN, how much gold does the United States Federal Reserve own? How much does it "possess", as in store it for other people or entities? No precision required, just a guess. What percentage of the gold held (a boatload) in the basement vaults at the New York Fed in downtown NYC belongs to someone else?

"The surprising answer later, same Bat-time, same Bat-channel."