Posts Tagged silver price
What are the best ways to buy gold and silver?
These days the airways are full of gold news, silver news, and vendors shouting at you from every direction that they have the best gold & silver price. it can be so confusing, trying to decide who has the best price for gold and best price for silver, and simply knowing who to buy from.
Here is some great information that will help you discover the best ways to buy gold and silver and get the best prices.
There are literally thousands of gold and silver broker dealers out there. some are good, some are bad, some are very, very bad. the worst are like sharks, lurking and waiting for the right opportunity to descend on their next uninformed victim. It’s critical that you educate yourself FIRST. before you even THINK about making your first purchase.
Obviously many brokers do not want you to do that. They love uneducated and uninformed buyers. They’re easy prey. some dealers call these types of buyers marks. Don’t be a mark become an educated, knowledgeable metals investor. the rewards can be astonishing. Step one is to learn the system.
Here’s how the system works. most gold & silver broker/dealers are middle men. They don’t mine the gold and silver, they don’t refine it, and they don’t mint it or turn it into coin or bar forms. They simply buy the finished goods and resell them.
Brokers purchase their inventory from a relatively small number of giant wholesalers, who sell only to licensed brokers. They obviously buy at wholesale prices and usually have pricing that is linked to volume. Then, the brokers mark up the gold and silver anywhere from 5% to 40%+, (so they can make a profit and stay in business), and sell it to their customers. Pretty simple, right?
And just like any other industry, different brokers choose to use different business models. some brokers position themselves as upscale boutiques that cater to the full service type of customer..think Tiffany’s and Neiman Marcus. many of these types of brokers typically sell less overall gross volume of metals, so they obviously must sell to their customers at very high mark ups.
Other brokers choose to use a different business model and sell in large volumes. By offering a no frills or low frills shopping experience, they can afford to operate on smaller margins.. think Target and Walmart. And. there are tons of brokers who operate at every different level between these two extremes.
At the end of the day, they both need to be able to make a profit to be able to keep the lights on and succeed. some obviously make more profits than others. many buyers need to decide if they would prefer to pay more for gold per ounce and silver, and get the white glove treatment, or if they would rather get normal customer treatment and pay less.
Here’s the big thing. most brokers are selling the exact same types and forms of gold and silver. for many smart buyers and investors, the difference pretty much comes down to price. in most cases, since gold and silver are commodities, it usually comes down to who has the lowest gold and silver prices.
CAUTION: there are some brokers out there who advertise 24/7 and throw out statements left & right like: At cost pricing, 1% over cost, wholesale prices, dealer direct prices, etc. the only thing discount about many of these guys is their words. because their metals certainly aren’t discount.
I mean, just because they SAY IT, does not mean it’s a fact. Often, if you really compare their prices you will discover they simply are not being forthright. They rely on customers simply believing what they hear on the advertisement, and being too lazy to do their homework and due diligence to check them out. Don’t be a lazy shopper. do your homework.
A divergent trend was witnessed in the bullion market today as gold prices recovered by Rs 50 to Rs 28,940 per 10 grams on low level buying by local parties for the marrige season, while silver rates declined.
Gold buying activity picked up as retailers made fresh purchases to meet marriage season demand, traders said.
On the other hand, reduced offtake by industrial units and a weakening global trend led to a decline in silver prices, they said.
On the domestic front, gold of 99.9 per cent and 99.5 per cent purity recovered by Rs 50 each to Rs 28,940 and Rs 28,800 per 10 grams, respectively. the metal has lost Rs 360 over the past three trading sessions. Sovereigns remained flat at Rs 23,300 per piece of eight grams on restricted buying.On the other hand, silver ready fell by Rs 170 to Rs 55,200 per kg and weekly-based delivery by Rs 320 to Rs 54,350 per kg. Rates for silver coins held steady at Rs 62,000 for buying and Rs 63,000 for selling of 100 pieces. - PTI
Copper Penny ,Penny Hoarding, Copper Penny Value, 1982 Penny, Copper » Blog Archive » Why invest in copper pennies? Copper Bullion, Copper Bars, Physical Metals
Copper is an often overlooked metal. It is used in many things such as water pipes and computers. not only that it is vital to solar panels. the future for copper looks great. Investing in metals is a good idea. Just look at gold or silver. Gold and silver are at pertty high prices at the moment so its hard to enter into those markets. but you still have a good chance to get into the copper market. In the 60s when the silver price started to rise slowly but surely the silver coins started to disapear from circulation. Where did they go? People were sorting them out. They knew that they were already worth more than face value. Fast forward to 2011. Pennies, thats right pennies, those brown coins in your pocket. the pennies that are from 1982 and back are worth over 2 cents in melt value. That means that the copper material is worth more than twice as much as the face value. These coins are still easy to find in circulation. ok you might be thinking “yea but thats not much 1 cent 2 cents ect” . Well your right, but it adds up quickly. You can sort out pennies yourself or we offer pounds of pennies well below the spot price of copper. already nicely sorted out for you. not only that ,there could also be “wheat pennies” included. those are the pennies that have ears of wheat on the tail side instead of the lincon memorial. These coins are worth more than the copper value in collector value. some rare ones are very valueable. Wheat pennies start at 3 cents and go up. In the end you cant lose with investing in pennies. the investment is insured by the federal goverment. In the end worse case you would have a bunch of pennies that are still worth, one cent each. if there is a crisis and the federal goverment were to crash, then you are also good because you have -physical- metal, not some papers from wall street that would be worthless. Investing in physical metals is a great way to mix up your investments and get better sleep at night. Right now we are offering boxes of 100$ face value pennies. Thats 10,000 pennies weighing about 68 pounds. the ammount below spot value depends on the current copper price. You will not find another investment were you pay -below- spot price for metal.
– Posted Tuesday, 29 November 2011 | | Source: GoldSeek.com
Asia saw gold remain close to the U.S. closing price around $1,706, but London was not convinced and took the gold price higher to $1,710. but as we have emphasized, it is the London gold Fixing that
Gold and silver prices started the week with moderate gains along with the sharp gains recorded in other major commodities prices such as crude oil prices. currently gold and silver prices are traded sharply up. Today, U.S Consumer Confidence report will be published; Canada’s Core Retails Sales report; and Canada’s Overnight Rate will be announced.
Here is a market outlook of precious metals prices for today, October 25th:
Gold and Silver Prices – October Update
Gold price inclined on Monday by0.99% to $1,652.3; silver price also rose by 1.45% to $31.64. The chart below shows the changes in gold and silver prices during the month (normalized gold and silver prices (September 30th 2011=100)). During October, gold price rose by 1.8% and silver prices by 5.2%.
The ratio between gold and silver prices slightly declined on Monday, October 24th to 52.22. During October, silver price inclined by a slightly larger rate than gold price as the ratio fell by 3.2%.
On Today’s Agenda:
U.S Consumer Confidence: in the previous report, the consumer confidence index remained nearly unchanged in September compared with August’s index. the current expectations are that this index may continue to drop in the October report;
Core Retails Sales Canada: This report presents the changes in the retails sales in Canada during August 2011. it may affect the USD/CAD exchange rate (see here the full report);
Canada Overnight Rate: the Bank of Canada will publish its decision regarding the overnight interest rate, which remained unchanged at 1% as of last month. the BOC may continue its policy of keeping the interest rate unchanged, despite the rise in inflation rate to 3.2% (in annul terms).;
Euro Summit – Round Two Tomorrow
Tomorrow, the second of two EU summit will be held. the first meeting was held on Sunday and didn’t bring much news. there are still gaps between the EU leaders and the position of the IMF and private sectors banks: the former consider there should be at least a 50-60% hair cut on the Greek debt, while the latter offer only a haircut of 40% on the debt. Some consider that the European debt crisis will take at least 5 to 10 years to resolve.
As long as there are huge gaps among the institutions involved the major commodities and the US stock markets are likely to benefit from this debacle.
AngloGold Is Boosting Production
According to Bloomberg, AngloGold is planning to boost its production capacity in order to benefit from the sharp gains in gold price. It’s suggested that the representatives of the company consider that the gains in gold price is due to a fundamental change in the precious metals markets. I think it’s best to take such an analysis with a grain of salt.
That being said, Hedge funds are renewing their bullish bets in raw materials over the expectations that the U.S. economy is showing signs of recovery.
U.S Dollar / Gold & Silver Prices – October
The Euro to U.S Dollar exchange rate slightly inclined on Monday by 0.24% to reach 1.3930; this was the fifth straight business days in which the Euro traded up against the USD; other currencies also were traded up against the USD including Yen, and AUD. if the “risk currencies” (i.e. AUD, Euro and CAD) will rise today, they might help push up gold and silver prices.
S&P500 / Gold & Silver Prices – October
The S&P500 index slightly inclined on Monday by 1.29% to reach 1,254.19; this was the third straight day in which the S&P500 rose; during October the S&P500 index added 10.85% to its value. the correlation between the U.S. stock market and silver price shifted to a strong positive correlation during October.
U.S. Treasuries / Gold Price – October
The U.S. 10-year Treasury yield slightly inclined again on Monday by 0.02 percent points to 2.25%; during October the 10 year treasury yield rose by 0.33 percent point. This shift coincides with the rises in the U.S. stock markets indexes. as a result, the correlation between gold prices and US 10 year treasury yield shifted form negative to positive; this might also serve as another indication that the markets are shifting their attention from U.S treasuries to the U.S stock markets.
Current Gold and Silver Prices
The precious metals prices are currently traded sharply up in the European markets:
Current gold price short term future (November 2011 delivery) is traded at $1,707.0 per t oz. a $54.7 or 3.31% increase as of 19:31*.
Current silver price short term future (November 2011 delivery) is at $33.285 per t oz – a $1.641 or 5.19% incline as of 19:30*.
The current ratio of gold to silver prices is at 51.28.
Gold and Silver Prices Outlook:
Gold and silver prices rose again on Monday; gold and silver prices are currently traded slightly up; the renewed interest in raw materials by Hedge funds may have stimulated the gold and silver traders to go bullish on these metals. furthermore, the ongoing uncertainty revolving the European debt crisis is also likely to drive traders towards safe haven investments. On the other hand, if the American economy will start to pull out of its slump, it may eventually curb some of the gains in gold price.
Here is a reminder of the top events and reports that are planed for today and tomorrow (all times GMT):
13:30 – Core Retails Sales Canada (August 2011)
14:00 – Canada Overnight Rate
15:00 – U.S Consumer Confidence
All day – EU Summit
Tentative – Bank of Japan – Rate Decision
13:30 – U.S Department of Commerce – Report on Core Durable Goods
15:00 – U.S. New Home Sales
15:30 – EIA Report on Crude Oil Stockpiles
- Weekly Outlook for October 24-28
- Did the Liquidity Trap Cause the Hike in Gold Price?
- Gold & Silver Prices | Weekly Recap 17-21 October
Lior Cohen, M.A. commodities analyst and blogger at Trading NRG.