Free Market PM Spot Price

[Yaowarat]

A better spot price exchange for Silver and Gold? That's what you get when you exclude the COMEX gangsters:

http://ebaypmx.com/Default.aspx

Hope this takes off.

[metalman]

Re: Free Market PM Spot Price

A better spot price exchange for Silver and Gold? That's what you get when you exclude the COMEX gangsters:

http://ebaypmx.com/Default.aspx

Hope this takes off.

cewl. ebaypmx closed today at $746. zactly the same as the 'comex gangsters' site, kitco.

does comex own ebay or the other way around?

[merry]

Re: Free Market PM Spot Price

I think the red numbers at the bottom ARE the COMEX prices. The Premium % column is what I find interesting. If I'm wrong about this, please let me know.

[Master Shake]

Re: Free Market PM Spot Price

I think the red numbers at the bottom ARE the COMEX prices. The Premium % column is what I find interesting. If I'm wrong about this, please let me know.

You're not wrong; MM misunderstood the chart.

[metalman]

Re: Free Market PM Spot Price

I think the red numbers at the bottom ARE the COMEX prices. The Premium % column is what I find interesting. If I'm wrong about this, please let me know.

wait... i'm a moron... was looking at the comex data.

that is awesome! that is huge!



vs...

[Yaowarat]

Re: Free Market PM Spot Price

If you click the "about" link there is also a system tray applet that can used. Somebody took the initiative to do this, cool.

[phirang]

Re: Free Market PM Spot Price

Dunno... seems the premiums are in line with what I'd expect given the crappiness of the gold supply chain.

[metalman]

Re: Free Market PM Spot Price

Dunno... seems the premiums are in line with what I'd expect given the crappiness of the gold supply chain.

i've been in the market for decades. never before has the free market price for physical so disconnected from the spot price.

i have no idea what it means but there it is in black and white.

WHY did the gold supply chain suddenly become crappy?

[phirang]

Re: Free Market PM Spot Price

there are always dislocations in a bubble.

the questions is, are we leaving or entering it...

[metalman]

Re: Free Market PM Spot Price

there are always dislocations in a bubble.

the questions is, are we leaving or entering it...

let us consider bubble alternatives.

i like 'bad ideas' best but that is the big macro bubble and a copout.

bonds? nope. that's nearing an end.

cash? nope, if that goes on we're soon eating shoes and listening to scratchy records on a wind-up phonograph.

stocks? ha, ha!

the dollar... the swan song.

oil, the bugger, just won't deflate like a good bubble should. what's taking it so long to get to $5?

aha! the new 'floor' price on 'stuff' is 2006. else the debt swallows us all up.

was gold a bubble? ask your neighbor and mailman about it.

[ASH]

Re: Free Market PM Spot Price

i've been in the market for decades. never before has the free market price for physical so disconnected from the spot price.

i have no idea what it means but there it is in black and white.

WHY did the gold supply chain suddenly become crappy?

I don't think the gold supply chain suddenly became crappy, but more likely its throughput is limited, and demand for small denominations of physical gold suddenly became high.

Obviously, the global financial crisis has created a lot of demand for physical gold. Apparently, this demand is mostly from small-time investors who don't trade in the big 400-oz bars. If there's a manufacturing bottleneck that slows the conversion of 400-oz good delivery bars to coins and suchlike, then it makes sense that the spot price and small-denomination physical price would get out of equilibrium until either (a) demand for small-denomination gold is satisfied over time, or (b) mints scale-up their production capacity to profit off of arbitrage between the spot and small-denomination physical prices.

As I've noted before, if you are able to take delivery of a 400-oz bar at close to spot, then it really is just a fabrication capacity issue. I'm assuming here that delivery contracts for 400-oz good delivery bars are mainly what is being traded on COMEX. I haven't delved into the details because -- let's face it -- I ain't buying a 400-oz gold bar anytime soon.

[pwcmba]

Re: Free Market PM Spot Price

http://www.jsmineset.com/index.php/2...ld-and-silver/

Some folks are looking to take delivery according to Jim and he gives you the steps to do so if you want to join in.

[pwcmba]

Re: Free Market PM Spot Price

http://www.youtube.com/watch?v=1e9y7...eature=related

John Embry video above

[metalman]

Re: Free Market PM Spot Price

I don't think the gold supply chain suddenly became crappy, but more likely its throughput is limited, and demand for small denominations of physical gold suddenly became high.

Obviously, the global financial crisis has created a lot of demand for physical gold. Apparently, this demand is mostly from small-time investors who don't trade in the big 400-oz bars. If there's a manufacturing bottleneck that slows the conversion of 400-oz good delivery bars to coins and suchlike, then it makes sense that the spot price and small-denomination physical price would get out of equilibrium until either (a) demand for small-denomination gold is satisfied over time, or (b) mints scale-up their production capacity to profit off of arbitrage between the spot and small-denomination physical prices.

As I've noted before, if you are able to take delivery of a 400-oz bar at close to spot, then it really is just a fabrication capacity issue. I'm assuming here that delivery contracts for 400-oz good delivery bars are mainly what is being traded on COMEX. I haven't delved into the details because -- let's face it -- I ain't buying a 400-oz gold bar anytime soon.

reminds me of the lines around the block to buy gold coins in 1980... except without the physical lines for the physical gold or the double digit inflation.

it's just frigging weird. :eek:

[bpr]

Re: Free Market PM Spot Price

Guys, this is Ebay prices. You should know that Ebay gives out discounts and such.

Take, for example, the live.com discount, which is currently at 25% (a few weeks ago, last I used it it was 30%) with a max. of $200. So, the high eagle/kruger price of $912 can be discounted to $712, if purchased theough Buy It Now via live.com.

That's under spot.