I have undertaken a new project, much smaller in scale than my earlier one to categorize Zero Hedge articles.
I have been interested in that widget ever since I first found it (at
24hgold.com, at the bottom of the home page). It is a very imperfect measure of physical demand vs. paper gold price at the retail level. Yes, I know it tracks Gold and Silver Eagles only, but that is what the widget itself tracks.
I have just started this, so the below results are NOT particularly meaning (except for the majestic 115% premium of ASEs over spot, I have seen it at over 80% but never over 100%) because of the very short time frame.
Note that typically AGEs run some 5.5% - 8.5% over spot. The LARGER numbers here I have often seen when PM prices PLUNGE like they have lately.
As time goes by, this information might become more useful, I am hoping that it will give us clues as to when the physical markets for gold and silver get tight...
I very much would welcome ideas and suggestions!
EDIT:
I lost price data (spot gold and spot silver) when I published this (the farthest right two columns did not come through). I think I will produce this in future posts with a GoogleDoc link, as I know how to do that now.
RE-EDIT:
Published in the cloud, this link includes price data for Au and Ag:
https://docs.google.com/spreadsheet/ccc?key=0AhnHmH-02CQIdG5GRXpkZ3RrZTdaeGdabElJYjVIVXc&hl=en_US#gid=0
eBay / 24hgold.com PM Widget Tracker |
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Notes: | | | | | |
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1) All premiums are truncated percentages, high precision not necessary IMO | | |
2) I have noticed that premiums widen when PM prices go down. | | |
3) Gold and silver prices are from 24hgold.com. ["formatted out"] | | |
4) AGE = American Gold Eagle 1 oz, ASE = American Silver Eagle 1 oz. | | |
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Date | AGE | SGE | |
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(dd.mm.yy) | Premium | Premium | Comments |
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28.12.11 | 13% | 52% | Second day of vicious takedown | | |
29.12.11 | 17% | 74% | at approx. 1:00 AM |
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29.12.11 | 19% | 66% | at approx. 11:00 AM |
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29.12.11 | 16% | 115% | as of 9:00 PM, widget shows eBay/24h offer |
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