Sudden drop in GP prices

Buyers market is around 0.35-0.4 atm. Why the sudden drop?

It was 0.45 in july and 0.51 just in June..

 

Probably gold farming ramping up more.

 

the games dieing, more bots less buyers more competition selling

 

Someone hoarded 150b then sold it all quickly on PlayerAuctions for $0.35/m.

It flooded the market.

http://www.playerauctions.com/offer/fast-and-cheap-bills-69006356/

 

WRONG.
He accidentally put 150B, he only had 17B actually.

 

Why does it say that he has 37m left then? And either way, this affected it somewhat.

Read his feedback too. He's sold MUCH more than 17b.

 

That didn't crash the market, it's been crashing for a while now. Also, all of the gold is just going to resellers anyways. It doesn't change anything in my opinion. I'm not sure why the market's dropped as fast it has, but there's much much more supply than demand.

 

Was wondering why gold prices where so cheap all of a sudden o.o even an old gold selling site that I trust has lowered their prices to 0.54/m.

 

It certainly didn't help. I had offers of $0.50/m yesterday on my 250m, now I'm lucky to get $0.35.

I'd say a combination of that, people freaking out over that and selling their gold off, and the terrible condition of Runescape caused it to crash.

 

One guy selling some bills cheap one day ago did not effect the entire market all of a sudden. What he had was just a fraction of entire market.
Prices have been falling for past few months.

 

you guys are agreeing to disagree..you both say it's crashing but non of you know the real answer other than "the game is crashing"

 

This is true.

The prices must have been taking a dive recently. A single seller in any market will not influence the market that much unless he has a considerable share of the market. It is probably because the sway of java bots taking hold again. I mean why buy gold when there are numerous free scripts that will make gold for you?

 

What you have to understand is, $0.35/M is still the current market price. If he wasn't selling on PA, he'd just dump else where. The only thing PA does is really make him lose atleast a grand by selling securely. The only thing that's changed is the public availability of low stock (which nobody's buying). The entirely same marketing strategy still applies.. Resellers are still reselling, even at the current rates.

 

Demand has weakened. Chinese doesn't buy as high as they used to, gold sellers can't instant flip. There is no one that could buy out all 150B+ he's sold/selling. He set the bar to a new low. Notice how all gold sellers have dropped their price, just not as low as the .35/M. Until his stock gets bought out, the market can't recover. A lot of the major gold sellers have bought billions off that guy.

He's losing out on like $3k+, he's sold like 100B already, and is still going.

 

No legit players are buying gold like they used to

 

At the time when I first bought it it was 0.70 per 1m. However, this was just after the bot nuke

 

maybe a major update like EoC is what RS needs to try to stable something.. new armour.. whatever.. but if anyone is going to buy gold, i'd say now is the time to do it seeing it could rise after the September update!

 

If anything i could almost see it going down from the amount of people that are going to "quit", if they do quit at all. Much lower demand if there are far fewer players. Also, i would say that the majority of players who are choosing to stay are probably higher leveled, so they have no real reason to buy gold when they can easily make it for themselves.

 

I know loads of players who have quit, including many vets and myself. Rs is getting into a mess, with the SoF giving out 200m. I think interest in Runescape is slowly dropping.

 

I'd say MA bug where you could make 3m in hour out of nothing.
Yes it was couple months ago, but the market doesn't crash so quickly.T here were tons of bots running MA and billions were made every day out of nothing and the price of rsgp didn't change. It's surely not the only reason of why it happened, but it is a big reason.