Lots of people selling

[jim4silver]

I was at a coin store today that was jam packed with people. I had to wait quite a while to speak to a worker, so I was able to watch what was going on with other customers.

I would say that probably 90% of the transactions I saw were sellers, mostly gold and silver jewelry and what looked like old coin collections (lots of coins in 2 x 2s, etc). A few people were buying sizable amounts of junk silver.

They say that a bubble is about to burst when everyone is buying (not selling) and full of confidence in the asset. If that is true we are no where near a PM bull market bubble bursting. I didn't see anyone buying gold in the time I was there. I picked up a small amount of platinum and they didn't have much of that at all in the store.

I would not be surprised to see a minor correction in PMs, but I don't think it will last long.

Jim

 

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[Marchas45]

I was at a coin store today that was jam packed with people. I had to wait quite a while to speak to a worker, so I was able to watch what was going on with other customers.

I would say that probably 90% of the transactions I saw were sellers, mostly gold and silver jewelry and what looked like old coin collections (lots of coins in 2 x 2s, etc). A few people were buying sizable amounts of junk silver.

They say that a bubble is about to burst when everyone is buying (not selling) and full of confidence in the asset. If that is true we are no where near a PM bull market bubble bursting. I didn't see anyone buying gold in the time I was there. I picked up a small amount of platinum and they didn't have much of that at all in the store.

I would not be surprised to see a minor correction in PMs, but I don't think it will last long.

Jim

I'm with you Jim, I see lots of people selling and there is a lot of good deals out there, for the life of me I don't understand it. I believe it's a fear factor but all indications show that prices are going to go up and my gut feeling or that little voice in my head is telling me Buy, Buy, Buy. I'm buying silver at 30% below spot in some cases ( and good chunks also) because people are dumping and running scared.
I predict that silver will start rising again sometime this fall and will sell some of my silver at that time to recoup some cash to BUY, BUY, BUY, more. Charlie

P.S. I have a funny feeling that tonight that when the Asian market opens silver will start to climb.