folks, a situation is COMPLETE DIFFERENT when you read about it on the internet than if you are affected yourself!!! well, i've read mogambos essay about that strange comex-silver 'phenomenon' last week (A Bull in a Silver Shop), but today i wanted to buy some physical silver myself ...
SILVER vs. SILVER :o). a pretty safe spread trade? huuuuuuuu? yep! sell physical silver for current market price [@ebay?] and buy silver futures (of course, call for physical delivery instead of cash settlement :-)! jaro, could you repeat that idea once again + speak slowly please as we couldn't get it yet! ok, here we go: in the online shop http://proaurum.de/ of germany's largest precious metals dealer was not a single silver product today, therefore i've visited their office in munich off-line today. available silver products? there was just 1 (= ONE !!!) item on the 'we offer today' list: the 1 oz britannia coin. price 15.84 €uros, which is about twice the comex-future price (today morning 7.80 €uros or $9.80). folks, it is 103% more!!! btw, when will the (physical) market abolish comex? when will the fundamentals win against market manipulation? well, britannia is more expensive than american eagle or vienna philharmonic (if available they would probably cost about 12-13 euros (i.e. still + 50%-66%)), but anyway ...
last time i have been there the comex silver price was about 10 euros (at that time maybe $15 or $14) and i could buy many different silver bars and coins. the 1 oz coins (eagles, maple leafs, philharmonics) with a spread of about 30% to paper-silver-price. that is still a lot, but let's consider the small size, costs for minting, transport, 7% tax, sale-commissions, ... so you should not be too angry, it could be worse ... and yes, it is worse now, MUCH WORSE! what could we learn?
limited supply + huge demand = high price
hmmmmm, it looks like if the markets 'work' correctly, isn't it? so why in the hell do we need all these huge government interventions, regulations, bailouts + manipulations all over the western world?
to do: document my trades ... toronto60, silver (again!), nat. gas (position increased)
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