Order date 20 March, delivery 02 April. Delivery is supposed to be via Toll Priority (That's what folk pay for) they send by Australia Post Star Track Express.
Crikey, a day later and it's on pre order again. To the old hands here, has it ever been quite this bad before?
Bullion Now, right now has 90+ 1oz bars/blobs/bars in their low premium section. Someone must have cashed in today. https://bullionnow.com.au/product/1oz-low-premium-gold/ and 50g gold bars in stock (only 10 as at time I type this) https://bullionnow.com.au/product/low-premium-gold-50g/
Perth mint allocated program is completely out of all silver bar, inc the 1000oz ones! Gold was all sold out yesterday except 400oz bars, but today they have 1 x 5oz, 3 x 10oz and 2 x 50oz available, but I expect they will be snapped up today.
It got about this bad right about the time it crashed. This won’t crash soon, new territory. Last time was popped due to margin call in the papers. Still cautious because after last crash it was apparent that the refiners had plenty plenty plenty of raw material
ABC Bullion now list the delivery times on the product list page, 1kg bars have an extended timeframe of 5 days since yesterday:
They have far less of a variety of silver for sale online compared to what they had at the start of week In saying that most items are commented with delayed delivery
Ainslie has no silver bar stock. All quoting delayed delivery. They have no special bullion at all. They have some gold coin stock. I am not surprised.
ABC Bullion have updated their delivery times for 10oz and kilo bars. Previous times: After 1/8/20 for 10oz and kilos after 6/8/20. Updated times: Both kilo and 10oz After 1/6/20. I wonder if the move to update was purely to do with decreasing overall demand or increased capacity? Bullion Now HAD a good chunk of low premium silver over the past two days. All gone now, but I counted a few 1000 Oz's. I also wonder how many stackers are getting out of their physical 'position' due to loss of work?
I think the demand is slowing down since spot is up. If silver ever dumps again to $20 the orders will pile up again
I question whether the overall demand was purely price driven. I definitely believe it was a big contributing factor, but another big factor would be the economic climate that we're in. A lot of new players appear to be popping up and many more "mainstream varieties" are beginning to see the threats of this endless Currency printing. Maybe this instance could even result in a long-term impact on PM demand, as more people begin to see that Gold isn't just a barbarous relic and silver isn't just an industrial metal - They have their place in wealth preservation!
Demand on a retail end had stayed the same as it was, maybe dropped back a bit since the original rush to buy at the $20/oz spot price imo But it will be interesting to what goes back to normal production first, the physical mining and refining or the industrial fabrication and manufacturing of goods with silver materials. Can skyrocket or plummet if the major finance institution keeps their fingers out of the pot and don't try and manipulate price
ABC have 1oz gold bars in stock for sale for those interested. https://www.abcbullion.com.au/store/gabg011oz-abc-bullion-cast-bar
ABC have confirmed my order of kilo bars is ready for collection next Tuesday. Order was made in the 19/3 and will be collected on the 14/4.