Kitco.com once again selling gold

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GR8TFUL's picture
GR8TFUL
Status: Bronze Member (Offline)
Joined: Oct 13 2008
Posts: 79
Kitco.com once again selling gold

The following article by Jon Nadler appeared at kitco.com today:

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A nice roller-coaster ride was the order of the day on Thursday, as market after market dipped below psychological levels only to bounce in the afternoon hours. Don't ask why. Just go along with the flow. Way back in early 2003, we saw the Dow at just under 8,000. We saw it there again, today. But, could it close at near 8,700 anyway? Could it add 587 points on a day when there was first a total eclipse in the making? Sure it could. After all, jobless claims hit a seven-year high, GM is convulsing in the ICU, US foreign trade declined sharply, and the federal deficit soared to $237 billion. Good reasons to run out and buy some crude oil, (itself having tapped a 22-month low of $54.67), stocks, and gold (which dipped to $698.50 during the day), right?

Most of the action in New York bullion prices mirrored the disoriented trading patterns so much in evidence elsewhere. Gold rose, then fell, then rose again. And, as of this writing, our morning target of $732 looked attainable once more. Let's see someone stick their neck out and declare this a day of bottoms in any particular market. Silver broke under $9 for the second time in a month, and then recovered to about $9.38 per ounce, while platinum gave up most of its gains but was still ahead by $22 at $833 per ounce in the afternoon. Palladium stalled at $210, losing a whole buck.

Today's quantum of solace for the precious metals markets was found in Japan, where sales of platinum bars rose to a record in the wake of sub-$1K values, and in a Morgan Stanley forecast for gold to reach $1K...in 2011 on falling mine supply. What happens in the interim, we were not told. Oh, and in case you missed it, Kitco's product page once again has gold and silver coins and bars for sale, at close to normal premiums. Because, you know, products are nowhere to be found, at any price, and because the sinister mints are trying to prevent you from acquiring any of their profitable small investment items. While we cannot estimate how long the current supply will remain up for sale, it is safe to say that the pipeline for such products shows all of the signs that it is not broken, frozen, or dry. Caveat Ebay and various other 'auctions' emptor...

joe2baba's picture
joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: Kitco.com once again selling gold

my guess is gold to go to 600 silver around 8

so i guess i missed something. gold and silver is hard to find yet it is on

kitco's page? i got a call from a dealer form monex offering me gold and silver.

prices are dropping on ebay. the gold and silver rush is over ................for now.

switters's picture
switters
Status: Platinum Member (Offline)
Joined: Jul 19 2008
Posts: 744
Re: Kitco.com once again selling gold

I checked around some online dealers and supply still seems tight compared to what it was several months ago.  It is also still tight in my local area (SF Bay Area).  I don't think it's accurate to say that things are back to normal with the physical supply of gold and silver, but the fact that Kitco has anything to offer is an improvement.  

Perhaps gold and silver will reach your targets, perhaps not.  But the happy news for most PM owners is that the prices are unlikely to fall below those levels, and highly likely to go up in the long-term. 

fujisan's picture
fujisan
Status: Gold Member (Offline)
Joined: Nov 5 2008
Posts: 296
Re: Kitco.com once again selling gold

@ 748 now... Huge buyers on the market!

China Should Buy Gold for Reserves, Association Says (Update2) 

By Xiao Yu and Ron Harui

Nov. 14 (Bloomberg) -- China, the second-biggest overseas holder of U.S. Treasuries, should increase its bullion holding to diversify its reserves because the dollar may decline, the country's gold association said.

``China should have at least several thousand tons of gold in its reserves, five to six times the officially announced 600 tons,'' Hou Huimin, vice chairman of the China Gold Association said by phone from Beijing. The group represents producers, traders and retailers.

... 

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aODaEiMnEoeI

 

joe2baba's picture
joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: Kitco.com once again selling gold

TRY APMEX AND MONEX

dont know about balnchard and goldline.

 

switters's picture
switters
Status: Platinum Member (Offline)
Joined: Jul 19 2008
Posts: 744
Re: Kitco.com once again selling gold

Apmex is who I generally check.  They have no gold bars and no coins of any consequence.  Four months ago they had plenty of each.  Just saying... 

joe2baba's picture
joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: Kitco.com once again selling gold

HAVE NOT CHECKED GOLD BUT THEY JUST GOT A LARGE SHIPMENT OF SILVER.

MONEX HAS GOLD COIN AND MAYBE BULLION I WAS ONLY INTERESTED IN THE COIN

THERE IS PLENTY OF COIN ON EBAY.

kass47's picture
kass47
Status: Member (Offline)
Joined: Aug 6 2008
Posts: 11
Re: Kitco.com once again selling gold
Anyone looking for gold or silver should try CNI.  http://golddealer.com/  They are very reputable and usually have supply.  I have personally had zero issues with them.

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