Bullion shortages coming

I didn't recognize the guy, he doesn't look very well.

Have you seen Mannarino? He's as skinny as a rake.

 

Yes Mannarino is looking like a ghost of his former self.

And what about those American jobless figures just released!
Oh Me! They were expecting one million and got over 3 million!
A lot like what is going to happen here soon as well.
I think we will all age quickly soon, the way things are going.

 

I can't help but think there is a decent chance of a big bust in metals if the financial markets recover and once the metal supply chain gets back on track and plentiful again.
I certainly wouldn't bet on it, but I think it's possible.

 

If you're referring to retail spreads, yes. But I don't see a permanent recovery in the financial markets. The virus is only beginning to spread.

There's anecdotal evidence that it is spreading symptomatically in China. Some of the people who "recovered" have not really recovered.

 

The stock shortage wipe out seems to be in full swing? Could we see $3000 gold and $28 silver?

 

Definately stock shortages everywhere, seems to be affecting pricing

 

We’ll see $28 silver way before we see $3000 gold. $28 silver is nothing, still very cheap. In fact, some silver eagles are already fetching close to $28.

But $3000 gold, not many people can afford. How many people will pay $3200-$3300 for a tiny queen beast 1 oz coin?

 

Dont need many people just a few with a lot of cash and a taste for physical. That combined with a 1.75% term deposit rate, an inflation rate of 2% and a bucket load of uncertainty makes $3000 look cheap.

 

silver spot at $12 was artificial and does not last a day
metals are riding on the different time span moving averages, totally different from paper spots
bullion shortages at $12, but they are available when spot at $16-$18

look at Palladium was 1600, went up 50% to 2400...may drop to 2000 and go up 50% again to 3000
it is almost impossible to catch that move on the metals average scales

so instead of waiting for gold to touch 3000, ride on Palladium to reach your 3000 and could be much faster on paper

there would be ooopppss moment too

 

Not sure that going into palladium at the present time is such a wise decision.
Palladium is almost exclusively an industrial metal used in vehicles manufacturing process, and with
car plant production being impacted world wide, and new car sales collapsing worldwide, I would be cautious of getting aboard atm.
I am surprised that palladium prices are still as high as they are, and not down at the platinum price levels.

 

Perhaps but food is now more important than anything. Look at India, lock down for 3 weeks. After, the lift, you can bet that everyone will be selling their gold jewellery for rupees at below spot, and buy rice and potatoes before the lock down is re-imposed again in another couple of days. Of course, spot and physical has detached. So it can go either way.

Australians have their super. Indians have their gold.

EDIT: I was looking at $3000 usd gold and $28 usd silver.

 

Silver Bullion’s office is expected to be closed from 7 April to 4 May.

 

Swiss refiner gnomes slowly getting back to work.

"Valcambi and Argor said on Sunday they had received government approval to partially reopen on April 6. PAMP said on Friday it had permission to restart.

They said this was on condition that they observe more stringent hygiene and safety measures.

Valcambi and PAMP said this meant they would operate at less than 50% capacity. Argor said it would have a “reduced work regime”, splitting staff into three groups working separate shifts."

https://www.reuters.com/article/hea...-work-easing-supply-constraints-idUSL8N2BT09A