What gives with gold prices

[StratBastard]

I had 4k that I bought in to play around with on cybermetals.com. Some days they do zero premiums for silver and gold. Have grown it to about 5400 in the past 12-18 months. It is an easy way to get my flip-fix and still sit on my hard metals. It's almost like a game these days. Take some $50 profits here and there, build up a chest, dump a bunch, then sit on the account and wait for it to hopefully go up. repeat....

Sounds like a good gig you have going. The only cybermetals I have are the plates in my head. It's outside my wheelhouse.

[Jester-ND]

Sounds like a good gig you have going. The only cybermetals I have are the plates in my head. It's outside my wheelhouse.

it is designed for goldbugs. It is essentially an account that allows you to flip metals as much as you want. You can invest in fractional metals at spot + a premium. they have storage fees and such, but instantly being able to sell/buy at current pricing and not messing with shipping the actual product, makes it really easy for someone who watches the prices daily. Bulk of my holdings are sitting in silver currently, but again we are only talking about 4k Buy-in, Most of the purchases are in/around $250-300.

example:Buying

Buying

Spot

Gold
$1,950.07/oz

Amount

0.127 oz of Gold at $1,965.06/oz

Payment Method

ACH/eCheck


Total

$249.56


Order Date

08/31/2023

Time (EST)

02:51 PM

Order Status

Completed

and most recent sell:
Selling

Spot

Gold
$2,114.60/oz

Amount

0.127 oz of Gold at $2,084.60/oz

Deposit to

Cash Balance

Total

$264.74

Order Date

12/03/2023

Time (EST)

07:10 PM

Order Status

Completed

Yes it was only $15 bucks profit, but if I pay attention and play it smart/timing, can sit on the $15 and buy back into silver that currently has $0 premium. they rake a premium when you buy and when you sell, plus a quarterly holding fee, but if watching the prices multiple times a day it isn't difficult to turn a profit. I sold that gold sunday night when price had hit $1100, now price has dropped a bit and there is $0 premium on gold and silver currently, I could take the meager $264 and put it back in-to the gold I pulled it out of 2 days ago and now hold .13 oz vs .127, yes it is piddly amounts on the face, but it gets me my fix, It isn't always small amounts, was heavier into palladium, but figured it wasn't going to slow it's drop so dumped most of what I had in that @ $1202 (currently $1003) and dumped it into $0 premium silver @$22.85 (currently $24.38), like I said. it scratches an itch.