http://www.paulcraigroberts.org/2013/04/16/update-to-the-update-the-attack-on-gold-paul-craig-roberts/
Tuesday, April 16. The orchestrated attack on bullion in the paper
gold market took the spot prices of gold and silver down on Friday and
Monday, but actual physical purchases rose during this period. The sales
were of paper claims, not of real metal.
The demand for physical possession of bullion rose so strongly that
large wholesalers such as www.tulving.com and large retailers such as
Gainesville Coins reported sold out items. Also, dealers raised the
premiums above the spot price that is charged for coins. From Friday to
Monday the premium on Silver Eagles at the large online retailer,
Gainesville Coins, rose from $3.75 to $5.99 above the spot price of
silver. The percentage increase in premium was larger than the
percentage decline in the silver price. Thus, the price of a silver one
Troy ounce coin did not drop despite the drop in the spot price. Today
(April 16) the price of a silver eagle purchased with a credit card from
retailer Gainesville Coins is $30.36. You would never know that the
market had fallen out.
No comments:
Post a Comment