Update 07 Gold Valuation for OMM Apps

It's currently valued at $2.80/M, approximately $0.50/M below market value. Major gold sellers are purchasing gold at $3.00/M or more, and even untrusted sellers and/or scammers are able to get $3.30/M or better for sale of their gold.

 

I'm not overly market oriented so I'm unsure of the going rates but if that's what the community feels I support it.

 

I do agree 2.80 is low

 

Hey Luke,

I actually recently just added that in, the only concern I have with changing it so frequently is that applicants will need to manually keep track of which trades have which value and it'll b e kind of annoying for people going through the application.

What I would suggest is, why not leave it at $3/m for now because I've got a feeling after the summer it'll drop lower than $3/m most likely back to where it was during t he school year.

Or would you suggest that we keep it updated some other way? I don't think it'll rise over $3.2 or $3.3/m and the prices are usually based off what bulkers pay just like the current RS3 price.

 

I feel like maybe a monthly or bi-monthly official price would be best - not too difficult to keep up, relatively accurate to market prices unless there's a sudden, massive rise/crash, and previous periods' prices could be referenced based on the dates of applicants' trades with relative ease.

 

The concern isn't with the upkeep of it, it's for the sake of the applicants as well as the checking of the application itself.

If we label it as $3/m as opposed to it being $3/m one week and $3.3/m the next is I don't want people to have a trade that one week is worth $550 but the next week is only $510 and thus it's not worth that "last column" trade. If we keep an average of $3/m a 180m Rs07 trade done one week and a 180m Rs07 the next week wouldn't be worth different values.

Not to mention, it would be easier for the review process to make sure the numbers on the applications are right. It's easier to know that all summer it was $3/m as opposed to different values each week.

I mean that's just my personal view but it's open for discussion

 

The idea of the suggestion is just to keep the official price for the apps reflecting gold's real market value with some consistency, instead of having some random price sitting, incorrectly, on the thread for who knows how long.

I'll go ahead and add that this is just something I felt needed to be changed; I'm not sitting on a trade just slightly a cap from an OMM app or something.

 

I know it has nothing to do with you personally, but that's just a point I'm trying to make. Also what about the application review process? It would make things complicated and I really don't like there being room for any dishonesty when it comes to trade values. That way if it's kept at steady relatively correct rates for long periods of time, then it accounts for both the current steady price and a dropping of price, and people can't just claim that for one of the trades it was "extra" because GP costed more.

 

I understand your concerns, too. If you're stuck on a flat rate for long periods of time, I'd at least suggest ~$3.00/M, then. Gold hasn't been below $3 for several months, long before summer started.

 

Changed it to $3/m, past trades from the past 2 months can be updated to $3/m not $2.8/m