Stock Market is the bottom in?

[BuckSutherland]

Silver.... Almost feels like this could be a blow off top....

 

[SD51555]

 

[hunts_with_stick]

like seriously? Wth is going on? I'd love to sell then buy it all back plus some when it goes back down....IF it goes back down.

 

[hunts_with_stick]

I guess when the US mint is selling silver eagles for 170+ they might know something

 

[bwoods11]

Silver is crazy

 

[BuckSutherland]

I just called a gold and silver dealer in St Louis Park, MN. They told me they would buy as much silver as I had for $7 under spot price until their cash was exhausted. That puts it at $108/ ounce right now. He said they only had enough cash on hand to buy 40-50 ounces, but that changes throughout the day. If someone buys a couple ounces of gold they might have $25,000 in cash. He said if I drove an hour to see them now the cash could all be gone by the time I got there.

 

[hunts_with_stick]

I just called a gold and silver dealer in St Louis Park, MN. They told me they would buy as much silver as I had for $7 under spot price until their cash was exhausted. That puts it at $108/ ounce right now. He said they only had enough cash on hand to buy 40-50 ounces, but that changes throughout the day. If someone buys a couple ounces of gold they might have $25,000 in cash. He said if I drove an hour to see them now the cash could all be gone by the time I got there.

Are you serious? That's insane. And 108 is a great deal.

 

[hunts_with_stick]

is that a buddy or you just called a random store?

 

[BuckSutherland]

I called the MN Gold and Silver exchange. Gonna call a couple other places and see what they say. My most recent buy was 100 ounces from Costco at $42/ ounce in Sept. Dude I talked to thinks gold and silver will keep going up. He said if it does they might widen the spread a little more.

 

[BuckSutherland]

Just called 2 other places in the Twin cities metro area. I was offered as high as $110/oz for silver. NOBODY wants to buy more than 30 ounces right now. The guy at $110 told me he would only buy 20 ounces. Not even worth my time to drive down there.

 

[SD51555]

View attachment 88346

Can I stop doing these? Does everyone see the humor now?

 

[Brian662]

Just called 2 other places in the Twin cities metro area. I was offered as high as $110/oz for silver. NOBODY wants to buy more than 30 ounces right now. The guy at $110 told me he would only buy 20 ounces. Not even worth my time to drive down there.

If they believe it's going to keep going up, why are they unwilling to buy more than 30 ounces?

 

[BuckSutherland]

If they believe it's going to keep going up, why are they unwilling to buy more than 30 ounces?

Pretty sure they are just the middleman. I don't think they wanna stick their neck out too far in unprecedented times.