Silver will drop soon, then will go up
- Thread starter TreasureHunter
- Start date
Daily volatility at the moment is super high
Not worried about metals but the stock market. If it does a March 2020, silver will be dragged down regardless of fundamentals. Of course, guessing the stock market is pure luck.
It really is a lottery. So are metals now. We have entered a period where everything is irrational and nothing is predictable unless you are able to drive the market because of your size.
Either ABC has been selling silver hand over fist or they don't the level of supply that BN does.
BN (not allowing for bulk purchase discounts) still shows 250 Britannia's @ AUD41.80, 1,456 Maples @ AUD42.40 and 210 Roo's (they always have Roo's) at AUD37.90.
The ABC price for Roo's is insulting. If / when BN open a Sydney store, ABC and KJC are going to have to price match or lose business to BN.
BN (not allowing for bulk purchase discounts) still shows 250 Britannia's @ AUD41.80, 1,456 Maples @ AUD42.40 and 210 Roo's (they always have Roo's) at AUD37.90.
The ABC price for Roo's is insulting. If / when BN open a Sydney store, ABC and KJC are going to have to price match or lose business to BN.
They are long overdue for a second storefront imho. Guess it's about finding someone you trust enough to operate it
From comments (and long pregnant pauses) made by BN in some of the recent live streams on the subject, a Sydney store is on the cards but I suspect Covid has slowed that project down...and yes getting the right person to run the show is key.
ABC is a big player in the market with significant buying power. The stock listed at BN's website would be a drop in the ocean compared to the supply and demand of ABC. That's why I find the assessment of their listings most interesting. They used to have 25+ silver listing, including PAMP and their own minted bars in different varieties. Now they're down to 11, and that's been consistent for over a year now. So when 3 of their products go to into "pre-order", that's over 25% of their total listings temporarily unavailable. It's 50% of their coin/round products.
You'd think ABC would have the capacity to place large orders at any given time. Who knows what's going on...
Very valid point re ABC and buying power and size re BN. To extend on your comment re lack of variety in the ABC product line up, as far as I am aware (read it some 12-18 months ago), ABC refines about 70% of all silver bullion in Australia (and PM about 70% of all gold)....so if they have that much capacity and ability to source ore / dore bars / scrape / other to refine that much silver...where is it all going?
I can understand that getting stock from Perth Mint may not be easy or cheap for ABC (as PM's prime competition in the Aust market and thus probably have to go via wholesalers for PM product), but their limited other O/S mint stock does raise the question as to how good their connections are with say RM, RCM, US Mint as BN have (as a general rule) these products coming through on a regular basis in volume looking at available product on web site and vids they put out.
I'm certain they do refine 70% of silver in Australia. I actually think they're the largest silver refiner in the southern hemisphere...but I may be wrong.
I remember in 2020 when they only had 10oz bars and kilo bars on their websites. The private market was booming at that stage. ABC had plenty of silver on-hand, yet their ability to produce their product was limited by the bottleneck in their production, rather than their access to silver itself.
I have a feeling their current profit margins and the associated demand on the products they do list currently, was enough to justify the limited offerings they make available. Additionally, they currently offer 11 products, 7 of which are their own brand... so I think from a business perspective, it makes sense (cents) to keep it that way if demand for their own products is strong enough.