Thursday, June 17, 2010

A Portent At A Buying Roadshow

Recently, the Global Estate Merchandisers Co. hosted a week-long buying roadshow near Denver, and found something odd: sellers were amenable to letting their silver go, but are hanging on to their gold.
Several sellers interviewed Wednesday shared the expectation that gold still has more bullish days ahead.

One Aurora man turned down a $1,100 offer for a 19th-century gold coin because he expects the price of gold to rise even higher. He acknowledged that the seller's market won't last forever but said he would keep waiting for now.

"I wish I had gold and I'd bought it at $300," said Bob Green, 60, a Littleton sporting-goods retailer. He came to trade old coins and other items.

This report makes for a portent. Not only is their greater public awareness of gold, but also there's more bullishness among would-be sellers. Gold first came into public awareness through gold buyers, not vendors, but it looks like the bull case has spread enough to make would-be seller start hoarding what they've got.

It's only a matter of time before that bullishness translates into more public buying of gold...

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