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Dealer stock levels


BaldyBob

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There is a tremendous amount of stock at present at various dealers.

A vast amount at HGM , and 3 pages of used stock at Atkinsons. Is it actually moving and being replaced at a fast rate, or simply not selling?

If the latter, at what point do they send it to the melting pot?

Currently stacking 1/4 oz (22ct) and Sovs.

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42 minutes ago, BaldyBob said:

There is a tremendous amount of stock at present at various dealers.

A vast amount at HGM , and 3 pages of used stock at Atkinsons. Is it actually moving and being replaced at a fast rate, or simply not selling?

If the latter, at what point do they send it to the melting pot?

This is an encouraging sign, I think.  If they foresee a drop then it would be scrapped.  If they see price steady or rising then hold on to it?

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The discounting wedge I mentioned. So glad I have my EGI's and ESI's. I didn't know they were in surplus inventory, if true and can't shift them. I bet the new Platinum Philharmonics sell out quickly though. I'm stacking cash and waiting on the sidelines. US M0 Money supply has contracted very sharply in very recent months. http://www.tradingeconomics.com/united-states/money-supply-m0

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I think that people who bought physical are breaking even for the first time in a long time are selling, where as the ones still stacking are mostly holding off due to being used to lower spot. If this is the beginning of a new bull eventually there will be enough interest in the physical market and capitulation by those holding off that physical will start to move again. If this is just a short term rise then when spot falls I think physical will dry up as we saw last year.

The lack of demand for physical on the back of surging paper gold price suggests most desire liquidity above all else. This suggests many participants are in it for the short term, or at least expecting the rises to be short term. Perhaps if the rises are sustained there will be a gradual progression into the physical market, but for now this market remains small. 

As for the melting pot, I hope they don't. Can you imagine HGM throwing their stock of Victoria young heads into the smelter with the scrap? I shudder at the thought. 

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1 hour ago, KDave said:

Can you imagine HGM throwing their stock of Victoria young heads into the smelter with the scrap? I shudder at the thought. 

They haven't been getting many recently but I would think they are too savvy these days to do that.

Profile picture with thanks to Carl Vernon

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Thanks for the thoughts Gents.

I honestly thought the rally in the markets on Friday might have been enough of a sign for them send at least some stock to the pot, in case spot drops.

Maybe they have and are yet to update the websites ;)

Currently stacking 1/4 oz (22ct) and Sovs.

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