Gold bars fetching shiny premiums on eBay
Ned
Gold bars are trading far above current spot prices for one
troy ounce of bullion on the internet auction portal eBay
http://atu.ca/GoldBars highlighting current strong demand
for safe-haven assets among retail investors, traders said
Monday...
This is in sharp contrast to gold's spot prices, currently
trading at $728.60/oz. Heavy selling from hedge funds and
other investors in need of cash to meet client redemptions
and margin calls have clipped gold from around $930/oz just
over two weeks ago to a one-year low of $681.75/oz Friday,
before a strong bounce lifted prices back above the $700/oz
level...
Retail investors seeking physical gold have forced coin and
bar producers such as the U.S. Mint to ration supplies.
"It's an anecdotal story, but the high bids on eBay
illustrate the high level of retail demand. For that reason
we believe gold will go up again once hedge fund
redemptions wane, which should happen at the end of
October," said one Sydney-based trader.
PeterD
>x-no-archive: yes
>On Oct 27, 8:15 am, Ned <nob...@pseudo.borked.net> wrote:
>> Dow Jones Newswires
>>
>> Gold bars are trading far above current spot prices for one
>> troy ounce of bullion on the internet auction portal eBay http://ashitheadsu.ca/GoldBars
>> highlighting current strong demand
>> for safe-haven assets among retail investors, traders said
>> Monday...
>>
>http://www.monexassholes.com/monex/controller?pageid=prices