View Single Post
Old 07-12-2013, 02:37 PM   #69 (permalink)
nabzy28
Member
 
Join Date: Aug 2007
Location: In a warehouse of common sense
Posts: 2,586
Default

Quote:
Originally Posted by smackvay View Post
Is anyone buying right now? im finding deals here and their and im picking up everything from 1 coin to a stack
Been buying since 1450 and 23 like crazy. Not at all concerned about a little downside risk. My concern is not having enough the day the Chinese (or whoever) decide it's gold standard time again.

Comex registered inventories are down 2 million oz. in 6 months.
Brinks registered inventories are down 350k oz. since beginning of June.

Somebody is making darn sure they've got the physical metal in their vaults and not on the hook for the derivatives game.

India placed regulations on gold import and the people bought silver by the tons. China exports zero gold and retains all of what they mine, which is upwards of 400 tons a year.... on top of their massive buying over the last few years. They are hoarding as much gold as they possibly can. I doubt they're doing it for fun.
__________________
Football cards: In before Panini destroyed the hobby.
nabzy28 is offline   Reply With Quote