The crazy buying in the silver market might affect things. I really didnt think this kind of buying would start so soon. Seems the big bullion dealers might become depleted at this rate.
It seems insane doesn't it. I'm trying to contain my FOMO but it's not easy. We've seen shortages many times before and the mint always comes back stating it's not a silver shortage but a supply shortage of 1oz planchets/blanks and/or production limits being reached. Clearly this time is not the same as previous instances. I can't wait to see what this week has in store for us all.
From what I hear there are simply no sellers and all buyers. Maybe a disconnect of physical vs paper soon. Shows how small the market really is. We cant print it and its not made in a factory like a pair of Nikes. When supply becomes thin it shows immediately. Tell those miners they gotta work harder!
We can only imagine what will happen if the mainstream catches on. Once they've all built their TP kingdoms they'll be looking fill that void.
There had been no individual silver bullion seller in Singapore since September last year. The last time I managed to buy from another person was in early July. Once the trend changes, people can wait. From $18 to $15 today, no sellers at all, nada. No one is going to sell at lower than $25. As crazy as it sounds, it is easier for me to buy 500 surgical masks than buy a single kilo bar of low premium silver from another person locally.
sgbuyer, The poster was opining that Radomski calling for $800 gold in 2018 made Radomski's opinion not reliable. I was showing how you can be absolutely correct on price, but does it's own thing. Rogers made a fortune investing and has made a similar statement about sub $1000 gold (no time objective). Is Roger's opinion now worthless? If you had asked me in early 2016 when the Euro/USD would top, I would have said around early 2017 and at about $1.28/1. I would have been wrong on the time by about a year and thus wrong on the price. But if you followed the chart and relied upon it, you would have done well and got out right at the top. Is the chart worthless because it didn't meet an investor's time requirement? No. From what I have seen, Radomski is one of the more accurate letter writers. Because he doesn't change what he says very often, I don't follow Rogers closely. But I value his opinion and don't believe his sub $1000 gold price call has been invalidated. We shall see.
If one of the worlds biggest banks folds, margin calls on ALL investments as investors scramble to consolidate and close out could easily collapse gold below $1000.
Thank you Slimey, I'll take your comments on board. However, would margin calls on Gold be more towards the paper market rather than physical?
Jim Roger’s opinion is not worthless but his judgement on China is wrong in the short to medium term. I went deeply into gold even before the HK protests because I expected Asian demand to surge due to economic and social issues in China. I also believed the US dollar will be strong. I posted this opinion a couple times on this forum before the HK protests. Gold might fall to $1400 or $1300 but I don’t believe it will fall below $1000 because Asians don’t sell gold easily. Gold is treated as savings rather than investment in Asia. The mindset is different from in the West.
I would think that unallocated will be available at the price. Bars, probably not. There is a reason repo rate went to 10%, there is one or more major banks on life support. The drop in the Fed rate just bought a little more time.
The best man for this question is Bron. He will tell you exactly what will transpire regarding available silver in such a scenario. He works for ABC Bullion.....( Where I have my unallocated )
Yes 66rounds....a wet dream while shitting your pants at the same time....I think I might buy some share in ‘Bonds’....the underwear manufacturer, not the IOU from the government.
