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And -- has taken a beating lately and what has been a huge market sell a lot better next guest is this CEO of a precious metals exchange.
And says this might be the right time to take a look at physical gold as in the coins in the bars.
So well say hello attack Mac's CEO Michael -- Michael thanks for joining us from California how are you today -- Thanks Lauren great to see you paying you say people are buying gold and they're buying -- big time in fact three of your top ten selling days -- all last week.
That's right the but eBay.
The eBay dot com the -- 60s70 billion dollar market cap company has.
Formed a special relationship where at Max and -- at makes bully in sinner on eBay.
And on that particular.
On that particular site.
During the last week of June and we had three of our top ten selling days ever now we only sell physical bullion -- and clearly there's a lot of interest in the physical product.
As opposed to what's happening in the paper products.
And why is that you.
You provide them.
Regular people not immediately connected to the stock market and other markets.
An opportunity to getting to the local trade why -- -- so interested right now because we've been saying all show.
-- is tanking down 25% this year and more today that's not even including today's 4% drop.
Well I think that a lot has to deal with your time frame of your investment.
If -- day trading in there's there's a certain time frame or maybe this week or the next three or four months but people who backed visit call.
Men are particularly -- in the longer term three to five years.
And they look at the US debt.
The debt to GDP ratio and United States they look at the craziness around the world.
And they're looking for a hedge.
Against the more correlated assets of stocks and bonds and they are looking for the non correlated asset the one that's gonna.
Perform when these other ones tend not to perform.
And again this is a long term assets so.
With prices falling these people are saying -- on sale -- on sale.
And -- -- -- on eBay provides a very safe way to go make those purchases.
I want to touch on that.
On sale with you moment longer here we're trying to find the bottom for gold we haven't George -- on a little bit earlier and he said he feuding buy gold at 117.
Well George I know George well and he's he's got a fabulous gentlemen.
I think the question for buyers today is really not about do I get in at 1150125013.
Fifty whatever the question yes.
What do you have in your portfolio that's gonna provide the balance for the long term.
We have people right now selling out of the gold ET -- And buying into physical because they want that physical possession for that longer term three to five years.
So what's gonna happen today or tomorrow I can't tell you what I can tell you that.
If you want to have balance in the portfolio gold provides one of those foundational elements and certainly people since 2000 have enjoyed having that as we went through the 2008.
And 2009 problems now or at a level.
-- in those three areas and it's.
Gold on sale for many of these physical buyers.
Michael -- thank you so much enjoy your weekend.
Thank you going --
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