Gold Price record highs - Rant about peer to peer market - pricing and general competition

[@aligator651]

You are spot on! K.

[@shaunoliver1703]

thanks for stopping by.

[@johnlee4897]

I shifted a bunch of PF64 to PF69's and bought decent PF70's. Found the odd raw proof at auctions with reasonable hammer prices. The market's still there but maybe not so much in straight bullion. High graded proofs still command premiums.

[@shaunoliver1703]

there is pockets of liquidity - the problem with the quality coins they are hard to find.

[@DavidImpatief]

Walking is very underated, settles the Soul. Regards.

[@shaunoliver1703]

100% I either walk or run 5 or 6 times a week now.

[@buyystocks]

@@shaunoliver1703 long power walks are great.

[@user-si7ig6ul7l]

You were great as Eomer in the LOTR

[@shaunoliver1703]

The work dried up I had raid the dragon for some coin just to get by haha

[@Stevenharknett]

It will be scarcity that pushes the price up and brings about golds true value. We live in a debt based economy and the question asked is will gold once again underpin sound money? The other scenario is will the current system be reset? And what will the replacement medium of exchange look like? Is crypto a possible contender? Life today has a very tenuous feel to it. Ideas, institutions, beliefs, etc have changed for the worse I would argue.

[@shaunoliver1703]

It won't - it would collapse the West. everything is watered down to the detriment on the many and the enrichment of the few.

[@Jan-m5c2r]

Sound analysis, Shaun! Those of us who consider gold a safe haven want price stability - price spikes mean uncertain selling prices. Good video as always!

[@shaunoliver1703]

Stability is key in any market and when it shoots up its simply not there.

[@shrimpman8422]

great video really interesting, thanks for sharing

[@timgibson3754]

Maybe higher for longer metal prices will sort this out

[@shaunoliver1703]

time will tell..

[@Stevenharknett]

I knew at some stage gold would go up. I sold some ounces two weeks ago for 1606 an ounce. I was happy with that as it enabled me to pay off fiat debt and I made a small profit. So I am quite ambivalent as to where the price is now. When you study the history of gold and the economy it brings it into focus. Everyone is trying to offload now. However if they were not buying freely at 1600 why would they buy at 1680+? Iam not buying. Originally my foray into gold was to preserve my purchasing power over the medium term when rates were low and inflation was taking off. Overall, not done too bad.

[@shaunoliver1703]

it has nowhere to go but up in the debt based system. You are right in terms of why would people buy now when they were not buying prior. I am glad it has worked out for you.

[@lluke18]

I’m cost dollar averaging into crypto and taking profits and putting it into metals . When I have 3x gains I buy silver

[@shaunoliver1703]

never got on with crypto myself - its not for me. I wish you luck with the strategy.

[@billysteele8557]

When you print the amount they have rhe 3 grand is only 1500 quid of 1 year ago

[@davidmartin2957]

I suppose spot plus 3 is good but spot minus 2 is also good this only happens when you bought 5 to 8 years ago and spot was £1K or less. Gold is for long term.

[@shaunoliver1703]

Agreed I wont dispute that but how many people bought 5 to 8 years ago - thats the sticking point. A lot of people simply don't have those time horizons :)

[@ianbird7444]

think id like to know how the sharky dealers are in your opinion so we can give them a wide birth

[@shaunoliver1703]

Sadly due to politics its not something I can share - not at the moment anyway. As always keep your wits about you.

[@365DaysofSilver]

First everything 🎉

[@shaunoliver1703]

silver star for you

[@nickgardener5802]

I honestly believe the ‘Spot’ price is irrelevant when people want to buy (current race to the bottom)but when it comes to selling……..only Spot +1or2% will be the chant🎉

[@shaunoliver1703]

no you can't call people out on their behaviour that is not allowed on this channel :) ha

[@bistavloggers27]

Hey bro contact to me I have coins bruh

[@garygranato9164]

hi shaun what is your price from silver kg bars ??

[@shaunoliver1703]

ATM I am paying a pound over an ounce. In terms of selling probably 2 over an ounce (if I had any - I dont :) )

[@garygranato9164]

@@shaunoliver1703 your up late :) so if i were to sell you a kg bar what would you pay ?

[@Stevenharknett]

I see a prominent commentator is taking pot shots at you. He does seem to have an issue.

[@shaunoliver1703]

he can join the queue of people who have created problems in their head over something I havn't done.

[@SteveH-u5w]

Yeah I’m not a complete fan of byb and his legion of wanna be minions. I enjoy your posts very much as I learn a lot. Out of work at the moment but hopefully one day in the near future I’ll be able to grab some gold from you.

[@shaunoliver1703]

I just tell it how it is and I hope that it is useful for people.

[@livinthedream7714]

Excellent shit I concur: Backyard Bullion channel is way over the top. Unsubbed

[@shaunoliver1703]

In the past I have been very critical and maybe at times unfairly so. BYB does put out some decent content...Some.

[@Dontbeleivethehype1]

Byb always complaining about the royal mint ripping people of with high prices who doesn’t know any better.. He does the same to his so called buyers club..He sells there metals really cheap and undercuts everybody else who is trying to sell. Easy to sell cheap when he doesn’t even own or paid for the metals he sells. He’s as bad as the royal mint lol. He walks away with away with a profit every time. Great vid bud

[@jacobgrant5727]

BYB sells people's silver for a higher net price than they would get from a dealer (including Shaun). I have used his service both buying and selling and it's top notch. Just sounds like you are salty. He is offering a more competitive buying and selling market than others. I believe he is still on a break from it right now too, so what you are complaining about is beyond me!

[@shaunoliver1703]

@@Dontbeleivethehype1 I don't really know much about his service to comment - I for one don't really care about competition my job is to make sure I am firing on all cylinders.

[@shaunoliver1703]

@@jacobgrant5727 I will never have a problem someone throwing their hat in the ring as a businessman. Realistically BYB isn't a trader and he is not even in the picture when I talk about the market. The amount of people who have given it a go and left I have lost count. My gripe with BYB was his style of content, it is geared for making views some of them I feel are dangerous for new time stackers (or at least that was conclusion I came to many moons ago). In terms of trading being competitive is they key word.