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Cyber Monday and Precious Metals

Cyber Monday and Precious Metals
Category: Market Reports
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Posted: 11-30-2015

Cyber Monday brings hope to all dealers one way or the other and with just 25 days to Christmas we all hope it will be an action-packed season of business.

As we start the work week, after the Thanksgiving holiday, all eyes are focused on Cyber Monday.

Since there is not much to report on the market today, as we continue to be locked in a range, I decided to talk about online trading action. For the on line Precious Metals Dealer, Cyber Monday is the start of the big holiday season for bullion sales.

I wanted to share a story CNBC did on one of the largest online retailers, eBay. Forget gadgets and toys, some consumers are loading up on precious metals this holiday season. eBay said it frequently moves $1 million to $2 million of bullion from top sellers in a day, with volume increasing as the holidays approach.

On Thursday, the online marketplace offered two daily deals on gold bars, and sold about one $1,000 bar per minute, generating just under $1 million in sales. eBay’s gross merchandise volume for bullion has spiked 60 percent from last year, and 27 percent from October, with about a quarter of sales on mobile devices. The company attributes the rise partly to a slump in the price of gold, which traded near a six-year low on Friday. “When the spot price of gold and silver drops, bullion purchases tend to rise,” said Ryan Moore, an eBay spokesperson. “A drop in the price is often what drives those who have been considering investing in bullion off the fence.”

I made an attempt to compile data from other on line retailers (please excuse me as this information is not scientific). I was given details by some who have analytics and some who just rely on recall. For the 4-day period in 2014, to this year ahead of Cyber Monday, retail sales are up 20 percent in Silver and 11 percent in Gold. Silver leads the way with Silver Eagles on top, followed by Silver Maples and Silver rounds. Surprisingly, one ounce bars lead the online action in the gold arena. Premiums on certain products are higher this year due to the lower prices and Mint allocations.

Cyber Monday brings hope to all dealers one way or the other and with just 25 days to Christmas we all hope it will be an action-packed season of business.

For those who are curious, I’ve already sent my list of gifts to Santa. In my 62 years I have never been disappointed. You know why?
It’s because I never stopped believing.

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About The Author

Walter Pehowich Author Name: Walter Pehowich
This editorial has been prepared by Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing.

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