This is still time too buy! Trumpty Dumpty No Gains is pumping multiple trillions into the markets trying to do his little keynsian best to reinflate the fakeness, wont work. The best part of him ran down his mommas leg. He gave a pathetic speech yesterday, bumbling along tripping over words and you could hear he was very very uncomfortable as he should be. Blaming the falling markets on covid and other lies, but you can hear it in his voice that hes losing heart. The lies are compounding so much now that hes having a hard time holding them together. However sadly he didnt mention how he was going to pay off our debt, drain the swamp, rid of us the poison obamacare, put hilldabeast in court, none of his campaign fodder. I cant imagine what he will run on this election. Theres nothing else he could promise except more of the same failures.
More of the same from Reuters. https://www.reuters.com/article/hea...vestors-snap-up-precious-metals-idUSL8N2BH5HM Some sellers are seeing a ten-fold increase in sales of gold bars, coins and other pieces as existing buyers increase their holdings and newcomers enter the market. Banks too are seeing a sharp rise in demand for other precious metals, including silver, as well as smaller investments like 20 or 50 gram gold combibars which look like credit cards and can be divided into 20 or 50 squares. “The physical demand for gold at Zuercher Kantonalbank is currently enormous. All available products — bars, coins, etc — are in demand,” said a spokesman for the bank. “The high demand for silver bars is also astonishing.” -- “We are in principle completely sold out. You can already say that,” said Philipp Bachofen, from Geiger Edelmetalle in St. Margrethen, close to the border with Austria. “In the last few weeks, it’s all about getting gold,” he said, adding there were many smaller customers buying smaller bars while the bigger customers tended to favour 250 gram bars. Supply has tightened as gold refineries in Switzerland reduce production. “This has brought additional stresses to the system,” said Andreas Habluetzel, CEO of precious metals retailer Degussa Goldhandel. “For us, the demand increased tenfold last week, but we have a stock of several thousand bars,” he said. “So I expect we will be the last to go out of business.”
I got to admit this is confusing as hell. lol So the spot prices are irreverent on all physical precious metals? WTF lol
for a system to collapse it has to be about as corrupted and nonsensical as this one is shaping up to be
The LBMA has finally broken. They cannot supply enough physical for comex redemption. People are willing to pay to ensure they can redeem physical.
The thing is that up til now he's had a cakewalk. Lots of talk and politics and plenty of time for golf. Now, as the trite cliche goes ''It's all about to get real''. He's about to discover that he's the one that makes the decisions that can, and possibly will, cost a million or more lives. This isn't a face saving bombing of a few planes and tin sheds, this is decisions that are extraordinarily important and which have consequences that rewrite history books, and he's the decider. I don't think that Trump is a psychopath, which in his job is a disadvantage. If Hillary was in charge your FEMA camps would be packed with potential Covid cases by now, or she'd be happily helping Covid winnow the deplorables and clear the homeless out of LA. With the options being old man Biden or old man Trump, well Covid19 might sort that race out also.
The other angle to look at this is that there's ample gold, it's just in the wrong place and in wrong size. According to some sources it's Comex futures that carry the premium, compared to OTC spot. (For us small fish this is of course a different game altogether compared to what is available in the Local Coin Shop...)
Heard on the grape vine that multiple buyers attempted to close out their futures for physical and LBMA was scratching bottom of the barrel pulling out bars that were decades old. Not even sure thats how the system works, just my anecdote.
Heard the same. Also heard they are changing the Comex delivery requirements and planning to launch new futures contracts to allow LBMA bar size. Roy Sebag of Goldmoney is opining that whatever the case if the CV situation drags on London would run out of gold in June. Speculation of course, I'm not hinting at any conspiracy theories here.
Demand is through the roof. If you're after anything low premium text me I might have a source in Western Suburbs, just waiting on a quote from him.