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Thread: most bullish metal and least discussed on forums

  1. #71


    Quote Originally Posted by darkseid1998 View Post
    Precious metals dealers are here to make money. If they have too much inventory, they pay way below spot price but charge $200-$500 above spot.. On average they offered $700 below spot for each bar. Competition does lower the spread in that they must charge lower prices over spot and pay higher than their competitors. However, with competition also comes a bigger market. Not too many precious metals dealers dealt with Rhodium or dropped out so the market is smaller and so is risk tolerance.
    Nobody here needs to be told what precious metals dealers are trying to do. The question is, can't they attract more customers by offering lower buy sell spreads then what we see with Rhodium (now $1k spread an ounce), while still making their efforts worthwhile/profitable? I think they can, hoping someone with more time and hunger can step up to the plate and make it happen. Many of us here would be clients in the Rhodium/Platinum market if more competitive rates were offered (while quite frankly, I can't see how one can make much off gold given so much competition and razor thin profit margin).

    Kitco itself could become the palladium/rhodium go to place with clearly better rates then anyone else, and in the process, maybe even make more on their gold and silver as many diversified PM buyers prefer to shop at one place (it's a lot harder to stand out as the best deal in town in gold and silver, just way to much competition, they can instead make a name with the plat metals).
    Last edited by motocat; 02-12-2020 at 12:34 AM.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

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