APMEX suspends sales....

[elroy]

The following notice has appeared on APMEX's site when you place an order and try to go thru the checkout process.

*Attention – Due to the uncertainty in the global precious metals markets, we will not be able to accept any additional orders until the global markets re-open in Asia. We expect to be accepting orders around 6:15 pm EST. Sunday August 7th, 2011, following the market open.

IMO, typical APMEX behavior. When things get iffy APMEX closes the door. Certainly not the first time they have shut out buyers. In one way or another.

Notice on Tulving's website:
IMPORTANT: OPEN ALL WEEKEND FOR ORDERS.

I would have expected nothing less from Mr Tulving. I've placed orders with him personally on Xmas day.

[southfork]

The following notice has appeared on APMEX's site when you place an order and try to go thru the checkout process.

*Attention – Due to the uncertainty in the global precious metals markets, we will not be able to accept any additional orders until the global markets re-open in Asia. We expect to be accepting orders around 6:15 pm EST. Sunday August 7th, 2011, following the market open.

They expect major up day in metals and dont want to get bought out this weekend.

[southfork]

Just tried to buy all their generic silver, not that I had the funds to do so but what the hey, they say no buying allowed till tonight.

[LukeNM]

They are big enough -- I bet they have feet on the ground in Asia and suspect something big is going to happen tonight?

[REO 54]

Anyone try Gainsville Coins?

[phideaux]

APMEX is not stupid. They have to be able to hedge every order that is placed, on both the buy and sell side, as soon as they lock in a price with the customer.

Ya can't hedge when the futures market ain't open.

[elroy]

APMEX is not stupid. They have to be able to hedge every order that is placed, on both the buy and sell side, as soon as they lock in a price with the customer.

Ya can't hedge when the futures market ain't open.

I agree. But wouldn't they have hedged their entire inventory on an ongoing basis?

I can't imagine an outfit the size of APMEX hedging on individual orders.

Surely if they hold 1 million ozs of AG they buy options to cover their a** regardless of which direction the market moves.

[southfork]

Gainesville allows you to go to entering cc details, I didnt try to do that.
Im tempted to snag some fractional gold though.

[HistoryStudent]

Monday will certainly be INTERESTING regarding all markets.

I suspect that will see heavy buying especially in the paper markets

so the sheeple can be lured to sleep with their daily paper milk.


The PPT will have unlimited access to the printing presses IMVHO.


DYODD because like ROME around the 260s AD the commodity markets
with their corrupted 1% real precious metals money (from 98% sound familiar?)
swung 100 points up and down with the dishonest money.


IE like last Friday on the DOW, get IT?

[sandblaster]

Placed an order with Provident and everything went through ok. (Kinda hedging myself)

[phideaux]

I agree. But wouldn't they have hedged their entire inventory on an ongoing basis?

I can't imagine an outfit the size of APMEX hedging on individual orders.

Surely if they hold 1 million ozs of AG they buy options to cover their a** regardless of which direction the market moves.

I would guess that they don't hedge every single order when it is placed, but they accumulate the individual orders until ther is enough to buy/sell a futres contract (100 oz gold, 5,000 oz silver).

My understanding, is that for all practical purposes,all of thier inventory is always hedged (one wa or another). If they think the market is going to go bonkers on Sudnay night, I can't blame them for closing their window over part of a a weekend until the futures markets open.

Where's that guy from APMEX who jumped in here when they became a "sponsor" of this site?

[Irons]

That is a trip:

*Attention – Due to the uncertainty in the global precious metals markets, we will not be able to accept any additional orders until the global markets re-open in Asia. We expect to be accepting orders around 6:15 pm EST. Sunday August 7th, 2011, following the market open.

[Curtman]

Yea... We all know how little I care for APEMEX... MEanwhile they have their banner all over this website. Never would have happened on the old GIM where the GKahn insisted the members owned the site. Some things age like a fine wine and others age like milk...