Gold/silver markets starting to crack?

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Krombopulos Michael
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4:29p, 2/6/25







Gold has been flying out of the vaults in London and Chicago over the last couple of weeks. Contracts standing for delivery way above normal (aka taking physical possession).

If this keeps up, the folks holding paper contracts are going to be left holding the bag..... And most importantly, a failure to deliver (contract default) from LBMA or CME will send shockwaves in the global financial system.


Technically not a black swan event but definitely an event that most people won't have a clue that it's happening.


Plenty of gold and silver in retail markets at this point.....
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American Hardwood
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In reply to Krombopulos Michael • 4:31p, 2/6/25
AG
Me and my stock of physical gold coins will be fine.
The best way to keep evil men from wielding great power is to not create great power in the first place.
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Krombopulos Michael
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4:34p, 2/6/25

Best explanation i've seen....





Quote:
The gold clearing banks of London Precious Metals Clearing Ltd (LPMCL) have exhausted the metal they had available for delivery in their own vaults… so they are trying to borrow as much gold as possible via the gold lending market at the Bank of England. But this looks exhausted too.

These clearing banks (JP Morgan, HSBC, UBS and ICBC Standard) need to keep gold in their vaults for their own loco london liquidity. But it looks like they don't have any more gold to do this.

Counterparty risk has therefore risen between all the LBMA bullion banks which trade unallocated "gold credit" between each other. The clearers, the market makers and all the other LBMA bullion banks and brokers and traders. About 50+ entities.

basically they trade paper "claims" on gold (or the electronic equivalent). These claims are now trading at a discount to reflect the fact that they can't be converted at will into physical due to a lack of availability of sufficient loco London physical gold.
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@NFLPlayerProps
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4:37p, 2/6/25
There's probably 200-300x more paper gold than physical IMO. This should be a fun one.
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Tex100
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4:37p, 2/6/25
AG
https://www.livescience.com/planet-earth/geology/supergiant-gold-deposit-discovered-in-china-is-one-of-the-largest-on-earth-and-is-worth-more-than-usd80-billion

If China is a leading producer I'm sure they will manipulate supply
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Krombopulos Michael
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In reply to @NFLPlayerProps • 4:43p, 2/6/25
It's interesting but I don't think a default will be allowed to happen. That would cause WAY too many problems globally.


Last minute mystery supplier (a Euro central bank(s)) will step in with the stick save IMO.
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oh no
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4:52p, 2/6/25
AG
I'm converting most of my investment portfolio to land and ammo
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Kenneth_2003
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4:55p, 2/6/25
AG
Not to downplay...
But doesn't something like this happen with either Gold or Silver ever year or so?
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Scoopen Skwert
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4:57p, 2/6/25
AG
So where does one buy gold bars and coins?
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American Hardwood
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In reply to Scoopen Skwert • 4:59p, 2/6/25
AG
I've been satisfied with APMEX and Money Metals Exchange online as a casual buyer. Others will probably chime in and tell you better.
The best way to keep evil men from wielding great power is to not create great power in the first place.
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oh no
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In reply to Scoopen Skwert • 5:00p, 2/6/25
AG
Scoopen Skwert said:
So where does one buy gold bars and coins?
US mint, gold dealers or exchanges, some banks, local numismatists or coin shops
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Logos Stick
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5:02p, 2/6/25
You guys should all buy NVIDIA instead. Sell your paper gold indexes and buy NVIDIA.
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Logos Stick
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In reply to Scoopen Skwert • 5:03p, 2/6/25
Scoopen Skwert said:
So where does one buy gold bars and coins?

I don't trade a lot of physical gold and silver but those that do trade the stuff heavily say to buy bullion and not coins.
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taxpreparer
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In reply to oh no • 5:05p, 2/6/25
AG
oh no said:
Scoopen Skwert said:
So where does one buy gold bars and coins?
US mint, gold dealers or exchanges, some banks, local numismatists or coin shops


I heard that Costco was a good source, recently.
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DamnGood86
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5:13p, 2/6/25
AG
Your investment banker may likely be able to ship physical metals to you, possibly at a very competitive cost. Some treat metals as a near loss leader.
You may not be a moron, but some people think you are.
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BusterAg
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5:16p, 2/6/25
AG
Do these commodity derivatives all come with an option for physical delivery?

Because, demanding physical delivery right now of gold right now would be fun.
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24601
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In reply to Scoopen Skwert • 5:17p, 2/6/25
AG
Scoopen Skwert said:
So where does one buy gold bars and coins?

Costco is great for it, and trustworthy.

Get on slickdeals, set a deal alert for "gold" and every few weeks you'll see a deal come across for bars/coins at less than spot when you factor in rewards, which is a good deal for bars. They usually sell out fairly quickly, but deals come.up pretty often.
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Agz_2003
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5:18p, 2/6/25
AG
Buy from Aggie-owned Texas Precious Metals…

Https://texmetals.com/

Their silver bullets are damn cool too…
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Krombopulos Michael
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In reply to oh no • 5:24p, 2/6/25
oh no said:
Scoopen Skwert said:
So where does one buy gold bars and coins?
US mint, gold dealers or exchanges, some banks, local numismatists or coin shops

Im a fan of Miles Franklin. https://milesfranklin.com/ SD Bullion good too. Both are good if you are making bigger orders. But they will take bit of time to process orders (couple days)


If you want something in your hands immediately. I've used Dallas Gold and Silver before. Walk in with cash, walk out with metal. If they aren't busy, less than 10min transaction if you know what you want.



If you've never bought before. Stick to US Mint stuff. 90% junk pre-1964 quarters and dimes or 1 oz rounds "American Silver or Gold Eagles"


They come with a slight premium but they are US Mint. Generics, 10oz, and 1kg bars are cheaper per oz but they won't fetch as much when you sell compared to Mint products.



Don't go to pawn shops. They will see a sucker walking in the door and rip you off......
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bmks270
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5:27p, 2/6/25
AG
Supplier sent an email recently saying all quotes with gold plated part are good for 24 hr only.
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Detmersdislocatedshoulder
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5:28p, 2/6/25
piece of historical investment advice

if you don't have it in your hand you don't own it. any precious metal needs to be in hand. paper metals are nothing different than fractional banking principals. if and when they lose and it is an inevitability the longer the game is played. you do not want to be the chump holding the piece of paper.
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Stringfellow Hawke
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5:34p, 2/6/25
AG
https://texags.com/forums/57/topics/3181130
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TxLawDawg
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5:53p, 2/6/25
AG
Texas Precious Metals (www.texmetals.com) is Aggie owned and located in Shiner, TX. It's one of the largest precious metals dealers in the country and operates one of the largest precious metals depositories in the US. Very trustworthy and great customer service. You'll always speak to a live person in Shiner TX, and all the metal they sell is in their inventory on hand in Shiner. They don't sell it unless they have it, so there's no waiting on delivery. Why would you want to go anywhere else?
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BassCowboy33
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In reply to Logos Stick • 6:08p, 2/6/25
Logos Stick said:
You guys should all buy NVIDIA instead. Sell your paper gold indexes and buy NVIDIA.


This. Tech markets rebounding nicely from last week's overreactions.
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Krombopulos Michael
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9:32a, 2/17/25

Lots of Gold chatter over the last few days.

Elon is a mouth piece for the current admin. What is he signaling?









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whatthehey78
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12:15p, 2/17/25
AG
Follow up Ft. Knox audit with in-home raids of N. Pelosi, A. Schiff, M. McConnel, Schumer, M. Waters, Menedez, S. J. Lee estate, J. Kerry, G. W. Bush, D. Cheney, E. Salwell, H. R. Clinton, (your turn).

Use a bull dozer and dynamite if necessary.
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Bird Poo
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12:18p, 2/17/25
AG
Since our currency is basically removed from gold, what effects would there be if it's found that Ft Knox has much less gold in reserves?
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txwxman
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In reply to whatthehey78 • 12:34p, 2/17/25
whatthehey78 said:
Follow up Ft. Knox audit with in-home raids of N. Pelosi, A. Schiff, M. McConnel, Schumer, M. Waters, Menedez, S. J. Lee estate, J. Kerry, G. W. Bush, D. Cheney, E. Salwell, H. R. Clinton, (your turn).

Use a bull dozer and dynamite if necessary.


Need to raid the Texas Governor mansion too. Along with Straus. Don't stop until only true MAGA remains. Purge the disloyal
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Get Off My Lawn
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In reply to Bird Poo • 12:49p, 2/17/25
Bird Poo said:
Since our currency is basically removed from gold, what effects would there be if it's found that Ft Knox has much less gold in reserves?
The true backing of the dollar graduated from gold to depleted uranium. If Ft Knox has been emptied: that sucks… but changes little for us until we lose global reserve currency status… and that'd take military relegation.
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In reply to Scoopen Skwert • 12:52p, 2/17/25
AG
Scoopen Skwert said:
So where does one buy gold bars and coins?

Pretty sure William Devane can hook you up
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BQ_90
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In reply to Scoopen Skwert • 12:55p, 2/17/25
AG
Scoopen Skwert said:
So where does one buy gold bars and coins?


https://texmetals.com
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Heineken-Ashi
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In reply to Kenneth_2003 • 12:58p, 2/17/25
Kenneth_2003 said:
Not to downplay...
But doesn't something like this happen with either Gold or Silver ever year or so?
Explain..
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Heineken-Ashi
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In reply to BassCowboy33 • 12:59p, 2/17/25
BassCowboy33 said:
Logos Stick said:
You guys should all buy NVIDIA instead. Sell your paper gold indexes and buy NVIDIA.


This. Tech markets rebounding nicely from last week's overreactions.
Bookmarked
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Heineken-Ashi
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In reply to Get Off My Lawn • 1:01p, 2/17/25
Get Off My Lawn said:
Bird Poo said:
Since our currency is basically removed from gold, what effects would there be if it's found that Ft Knox has much less gold in reserves?
The true backing of the dollar graduated from gold to depleted uranium. If Ft Knox has been emptied: that sucks… but changes little for us until we lose global reserve currency status… and that'd take military relegation.
If it's discovered that the price of gold is based off mostly derivative value because the physical stock is less than actually stated, gold prices will shoot upward.

With gold being the longest running store of value in history, it would also mean that dollar is MUCH weaker than expected.
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nortex97
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In reply to Heineken-Ashi • 1:02p, 2/17/25
AG
Exactly.
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