WHEN will I be able to buy physical bullion again?

[LargoWinch]

It has been weeks now that Kitco is out, except for 1000oz bars of silver.

I cannot buy anything; platinum, gold or palladium.

https://online.kitco.com/bullion/index.html

If there is so much sitting around, why is it not finding its way to customers? Especially when everyone is flocking to cash...

[phirang]

Re: WHEN will I be able to buy physical bullion again?

APMEX has inventory, and doesn't bullionvault have a bunch on hand? What about Scotiabank?

If there is a real shortage of physical and COMEX defaults, I will laugh my ass off.

[Master Shake]

Re: WHEN will I be able to buy physical bullion again?

It has been weeks now that Kitco is out, except for 1000oz bars of silver.

I cannot buy anything; platinum, gold or palladium.

https://online.kitco.com/bullion/index.html

If there is so much sitting around, why is it not finding its way to customers? Especially when everyone is flocking to cash...

I just bought some from Tulving. How much do you want?

[phirang]

Re: WHEN will I be able to buy physical bullion again?

What will gold bugs do if gold is 500 by xmas?

[*T*]

Re: WHEN will I be able to buy physical bullion again?

What will gold bugs do if gold is 500 by xmas?

Nothing. It's doing quite well in sterling, thanks.

[sirbrian82]

Re: WHEN will I be able to buy physical bullion again?

What will gold bugs do if gold is 500 by xmas?

Look beyond the short-term and buy more til they're comfortable with what they have. 500 on xmas 2030 is a different story, but i don't know anyone with that foresight.

[ASH]

Re: WHEN will I be able to buy physical bullion again?

What will gold bugs do if gold is 500 by xmas?

Write distraught posts for your amusement?

It seems to me that one might buy gold as a short-term trading position, as a medium-term macroeconomic investment strategy (intending to profit from forecast inflation), or as generic insurance against a currency crash (with no particular time limit).

If one is a trader, then the goal is to maximize your returns at all times: to always be in the right thing -- or shorting the wrong thing. Riding a bad bet into the ground is the antithesis of being a trader, so I would be surprised if there are any traders who held gold through its multi-month decline; probably quite a few have successfully shorted it.

If one is a macro investor, then it is usually because one doubts their ability to get the short-term motion of the market correct enough of the time to be a successful trader. Supposedly, investing based upon medium-term macro economic trends is less challenging, because your timing needn't be so precise, and because the short-term chaotic motion of the markets has less impact upon your strategy. The problem with being a medium-term macro investor is that you have to be right about the macro trend, because those trends unfold over a longer time span, and by the time events either validate or invalidate your macro thesis, it is usually too late to get in or out. By contrast, the trader -- being nimble -- can normally get out of bad positions quickly. Thus, I think riding a bad bet into the ground is the essence of an unsuccessful macro trader. Those who hold precious metals expecting to profit in the medium-term from high inflation -- and I include myself in that category -- could lose badly by being wrong about the inflationary scenario. That said, I won't know if I'm right or wrong until the resolution of this crisis, which could be a year or two.

If one is seeking insurance from a currency crash, then the opportunity cost of tying up your money in precious metals is the premium of the policy, and you should allocate accordingly.

Anyway, I don't regard myself as a gold bug, although I have held gold through its recent decline. I'm definitely not a trader... yet. The training wheels are still on. I do fancy myself a macro investor, but that's not to say I'm a uniformly successful macro investor. Neither am I an unsuccessful macro investor... yet. A better question is what I will do if gold is $500/oz by Christmas 2010. The answer is that I will cease regarding my precious metal holdings as an investment and start calling it insurance for which I've badly overpaid; I'll stop subcontracting my economic knowledge to third parties and geek out on the mechanical details myself; and meanwhile, I will have moved on to investment in other areas.

[phirang]

Re: WHEN will I be able to buy physical bullion again?

Write distraught posts for your amusement?

It seems to me that one might buy gold as a short-term trading position, as a medium-term macroeconomic investment strategy (intending to profit from forecast inflation), or as generic insurance against a currency crash (with no particular time limit).

If one is a trader, then the goal is to maximize your returns at all times: to always be in the right thing -- or shorting the wrong thing. Riding a bad bet into the ground is the antithesis of being a trader, so I would be surprised if there are any traders who held gold through its multi-month decline; probably quite a few have successfully shorted it.

If one is a macro investor, then it is usually because one doubts their ability to get the short-term motion of the market correct enough of the time to be a successful trader. Supposedly, investing based upon medium-term macro economic trends is less challenging, because your timing needn't be so precise, and because the short-term chaotic motion of the markets has less impact upon your strategy. The problem with being a medium-term macro investor is that you have to be right about the macro trend, because those trends unfold over a longer time span, and by the time events either validate or invalidate your macro thesis, it is usually too late to get in or out. By contrast, the trader -- being nimble -- can normally get out of bad positions quickly. Thus, I think riding a bad bet into the ground is the essence of an unsuccessful macro trader. Those who hold precious metals expecting to profit in the medium-term from high inflation -- and I include myself in that category -- could lose badly by being wrong about the inflationary scenario. That said, I won't know if I'm right or wrong until the resolution of this crisis, which could be a year or two.

If one is seeking insurance from a currency crash, then the opportunity cost of tying up your money in precious metals is the premium of the policy, and you should allocate accordingly.

Anyway, I don't regard myself as a gold bug, although I have held gold through its recent decline. I'm definitely not a trader... yet. The training wheels are still on. I do fancy myself a macro investor, but that's not to say I'm a uniformly successful macro investor. Neither am I an unsuccessful macro investor... yet. A better question is what I will do if gold is $500/oz by Christmas 2010. The answer is that I will cease regarding my precious metal holdings as an investment and start calling it insurance for which I've badly overpaid; I'll stop subcontracting my economic knowledge to third parties and geek out on the mechanical details myself; and meanwhile, I will have moved on to investment in other areas.

I got some puts on GLD since my deflationary conversion, and lemme tell you, it lessens the pain tremendously!

We COULD get inflation, but WOW, we've got some pain before that happens. Either case, I think recent events are a lesson: hedge.

[ASH]

Re: WHEN will I be able to buy physical bullion again?

I got some puts on GLD since my deflationary conversion, and lemme tell you, it lessens the pain tremendously!

We COULD get inflation, but WOW, we've got some pain before that happens. Either case, I think recent events are a lesson: hedge.

Ya -- see? Nimble! Good for you.

I agree about the hedging. That will become more important for me the older I get, and the more money I have invested.

[LargoWinch]

Re: WHEN will I be able to buy physical bullion again?

I just bought some from Tulving. How much do you want?

Thanks Master Shake, but my two options are Kitco and ScotiaBank since I am located in Canada. That is unless Tulving has an office in Canada, which I doubt.

I am currently checking with Scotiabank in Toronto and will let you guys know if interested...

[grizam303]

Re: WHEN will I be able to buy physical bullion again?

What will gold bugs do if gold is 500 by xmas?

I can't speak for anyone else, but assuming I can find it, I'll probably buy some gold for $500 an ounce.

[jtabeb]

Re: WHEN will I be able to buy physical bullion again?

APMEX has inventory, and doesn't bullionvault have a bunch on hand? What about Scotiabank?

If there is a real shortage of physical and COMEX defaults, I will laugh my ass off.

Bullion Valut has junk silver, Kilo gold bars, and silver rounds, that's about it.

[WDCRob]

Re: WHEN will I be able to buy physical bullion again?

Hi jta... this is the second time I've seen reference to Bullion Vault and silver, but despite having an account there I can't find word one about silver.

Help?

[pwcmba]

Re: WHEN will I be able to buy physical bullion again?

I'd be interested to hear about Scotiabank. Can you normally walk in and buy in Scotiabank branches? What is the current status and do they ship to the USA?

[blazespinnaker]

Re: WHEN will I be able to buy physical bullion again?

Yes, you can walk into a branch and buy.

It's like 2% above spot price with all various fees (delivery, bar charge, etc). That's for bullion bars though, not for coins. Coins are more.

You need to find a place to store though.