You are viewing a single comment's thread from:

RE: How Inflation affect the Price of Gold and Silver

in LeoFinance2 years ago

Nobody who has a working brain would buy gold or silver on eBay, its a perfect way of being scammed.
Also, the prices you quote have nothing to do with reality. There is no such measure as "depending what coin you want". Coins are measured by weight, with the standard size usually being 1 oz fine metal (.999 minimum).
A 1 oz silver coin currently sells for 25-30$ US (higher prices are for coins with collector value, which is irrelevant in this context), and 1 oz gold coins for about 1750$ US.
Those prices are based on the COMEX exchange prices, plus manufacuring of the coin and profits for the vendor.
It has to be said that the current situation regarding the COMEX prices has no relation to reality, when we look at the inflationary developement in the USA or in Europe, or most other important economies in the world. In many countries inflation is sky rocketing, especially in the energy sector. Increases in fuel prices of 30, 40 or 50% are nothing unusual in many countries. The metal prices however have even lost a few % since the start of the Ukraine war. This is only possible because the COMEX prices are based on speculation with derivative papers - basically pieces of paper saying "gold" on them. Actual physical metal is not needed for such trades. That has already been the case for several decades already, and has heavily distorted metal prices since.

Sort:  

Well some people still fall for it and still buy stuff on eBay so. Well it is luck stuff I presume

Posted Using LeoFinance Beta