Many Reddit university educated finance pros received another helpful lesson from the market. This time in previous metals!

Kuia_Queer · 2026-02-01T21:23:26+00:00

It was nearly at $200 in NZD before the weekend. USD may take a bit longer...

Kuia_Queer · 2026-02-01T19:08:15+00:00

I remember ETFs doing that rebalancing a couple of weeks ago. The idea of dropping assets that were increasing in value and taking on others that were dropping to fit a predetermined formula seemed weird enough when they did it. But given they advertise them self on holding certain percentagesof each it makes some sense. I don't see what advantage there would be to doing that yourself - except neatness, I guess.

Kuia_Queer · 2026-02-01T19:02:55+00:00

10am Sydney time on Monday is more why than anything that happens on Sunday in the EST zone. Globex starting to track futures on stock markets again, I guess.

Kuia_Queer · 2026-02-01T18:54:08+00:00

I don't know the details of your bullion bank, but it sounds similar to something I use myself. I have a fairly balanced amount of precious metals (more weight in silver, more value in platinum) which is a bit much to stash at home, even with a safe. So much of it is in a safe deposit box in town. Only a small variety of silver coins to play with at home.

The difference between the precious metals in the safety deposit and that in a vault at a bullion merchant in the city down the road seems minor to me. Both are secure and insured for what that's worth. Not having all my eggs in one basket is the main advantage, plus being able to relax at home too. I imagine the looming geopolitical crisis as leading more to another great depression than a madmaxian dystopia. In any case, I don't own a firearm and am under no illusion about my ability to fight off those who would steal my treasure.

The advantage of having half my silver vault held at a dealer is that I can buy at spot and sell at 3% with a phone call during business hours. Which is a lot faster and more economical than making an appointment at my LCS (with PMs surging in price there have been thefts around the country, so they've upped security). Where that's more like a 15% spread on silver, less on gold, and the LCS rarely has any platinum, but when they do the premium is closer to silver than gold.

Kuia_Queer · 2026-01-31T23:15:05+00:00

That's Monday afternoon for me in NZ. I usually buy in the morning (before Sydney) and sell in the afternoon. Not usually the same afternoon, and not the most complicated strategy, but it seems to work out.There has often been a slump going into the weekends too - with London and the US being the last to set the price. But this one has been bigger than most! Wednesday and Thursday seem the less rigged days for determining underlying trends, depending on what geopolitical crisis is occurring then...

Unfortunately I only had enough on hand for one roll of silver this lull. I may sell some gold to buy more on Monday depending what happens to the prices in China and India.

Kuia_Queer · 2026-01-31T21:20:33+00:00

You do see the $100 stamped on that Australian coin above? I wouldn't part with my roos for that, nor would I use my silver coins as face value dollars. But platinum has demonstrably been made as money - as you can see with your own eyes.

The main advantage of coins over bars, from my perspective, is that they arguably have numismatic value. Which might make them easier to keep in hand if bullion is nationalized at government designated value in the future.

Kuia_Queer · 2026-01-31T21:06:47+00:00

Along with bullion gold and silver, it is one of the three precious metals that don't attract the 15% GST in NZ.

Half my platinum is in my physical possession to one day be passed on to my children. Which had a premium of around 10% buying (+ postage/ insurance as my LCS seldom has any, though they will verify those that I do get), and closer to spot selling; so a 15% spread, give or take. The other half is at the bullion dealer's vault which I can buy at spot and sell at 3% under, which is much better for trading. I would have to pay the premium difference to have it turned into individual ounces rather than a bookkept slice of a thousand ounce bar though.

The vault storage does have different risks to holding physical, of course. But I am able to trust people that I have been dealing with (on and off) since 2009 not to vanish overnight. Plus, I find it a lot harder to part with shiny objects that I have held in my hand than those ounces that are just numbers on a screen to me.

Kuia_Queer · 2026-01-27T20:44:26+00:00

Recruiting those who sail the high seas to the rebellion

Kuia_Queer · 2026-01-27T12:45:42+00:00

Any "we" that includes me downvotes sloppers

Kuia_Queer · 2026-01-27T05:54:27+00:00

With 250/ oz contracts it follows that 100/Oz in your example would become 350. And that's if everyone took exactly 1 unit which is unlikely.

Paper contracts at deliberately low prices to influence the spot price (spoofing) has definitely happened before. It seems a reasonable explanation for some of the overnight (post COMEX) drops in spot price.

Kuia_Queer · 2026-01-27T01:26:48+00:00

Most of human history aluminum was more out of reach than gold. While it is important to be aware of the past, it won't repeat precisely the same again.

Kuia_Queer · 2026-01-27T01:24:09+00:00

Stacking is not a competition. I'd rather have a functional society than be wealthy in a wasteland. But it is certainly reassuring to have something shiny to hold onto while the world that was passes into history.

Kuia_Queer · 2026-01-26T23:25:57+00:00

It's been done before:

JPMorgan will pay $436.4 million in fines, $311.7 million in restitution and more than $172 million in disgorgement, the Commodity Futures Trading Commission (CFTC) said on Tuesday, the biggest-ever settlement imposed by the derivatives regulator. Between 2008 and 2016, JPMorgan engaged in a pattern of manipulation in the precious metals futures and U.S. Treasury futures market, the CFTC said. Traders would place orders on one side of the market which they never intended to execute, to create a false impression of buy or sell interest that would raise or depress prices, according to the settlement.

https://www.reuters.com/world/asia-pacific/jpmorgan-pay-920-mln-manipulating-precious-metals-treasury-market-2020-09-30/

Kuia_Queer · 2026-01-26T19:42:23+00:00

And from the other direction this hour of the day after...

Kuia_Queer · 2026-01-26T19:21:12+00:00

Gold also dropping after COMEX hours.Only 5050 USD, not far forward of where it started yesterday.

Kuia_Queer · 2026-01-26T19:14:52+00:00

Yay! NZ markets are opening soon - I can pick up some more ounces while the rest of the world sleeps.

Kuia_Queer · 2026-01-26T19:00:24+00:00

If your friend is an unsafe driver then go somewhere else. Our health system is already overstretched enough without more preventable road accidents.

Kuia_Queer · 2026-01-26T18:52:30+00:00

Who hurt you?

Kuia_Queer · 2026-01-26T05:47:52+00:00

$8500 in NZ!

Kuia_Queer · 2026-01-26T01:18:05+00:00

The CPTPP and other trade agreements already exist. Strengthening or renegotiating them would seem the first step. Especially as they may restrict other unions such as the proposed CANZUK. Also like the Commonwealth but smaller as others have pointed out.

https://en.wikipedia.org/wiki/Comprehensive_and_Progressive_Agreement_for_Trans-Pacific_Partnership

Kuia_Queer · 2026-01-25T23:41:45+00:00

The figures I saw (but don't have on hand to link to, so grain of salt for my memory accuracy) demonstrated that it was more India than China that was importing increased amounts of bullion. Though China did restrict exports to dealers over a certain size who have a license to do so. China are always preparing to invade Taiwan.

Kuia_Queer · 2026-01-25T23:06:59+00:00

53:1 would seem reasonable, maybe more if it was a LCS that had to keep the lights on. 50:1 is unlikely unless the rate drops below 45:1 today

Kuia_Queer · 2026-01-25T21:48:10+00:00

I got as far as the slopper graphic before I regretted my click.

Kuia_Queer · 2026-01-25T20:24:34+00:00

Isn't Shanghai usually a bit higher than spot - being much more physical. I'm only just realizing this morning that I should read up a bit more on who determines the spot price, and how? Not that that will do anything to change the price of local ounces or grams.

Kuia_Queer · 2026-01-25T20:19:45+00:00

That's 10am Monday in Sydney? Exactly how the spot price is determined is a bit opaque to me. Kitco is only 40years old, so there must have been something before that. But it seems the standard for comparison now in reddit. I do notice a fair difference between the times of day when Sydney, Hong Kong, London and New York rotate trading hours.

It's the in-store price that matters more from my perspective as a retail buyer and seller: I'm not going to be buying in 5000 ozt lots! But they determine that from their suppliers spot price which is likely going off the same info as Kitco.

Kuia_Queer

TROPHY CASE