Bullion shortages coming

Discussion in 'General Precious Metals Discussion' started by switchtronics, Mar 16, 2020.

  1. STKR

    STKR Well-Known Member Silver Stacker

    Joined:
    Aug 19, 2019
    Messages:
    652
    Likes Received:
    1,007
    Trophy Points:
    93
    Depending on what time in 2011, this would have been a blessing in disguise.
     
    Holdfast likes this.
  2. ozcopper

    ozcopper Administrator Staff Member

    Joined:
    Jul 17, 2009
    Messages:
    16,795
    Likes Received:
    2,845
    Trophy Points:
    113
    Location:
    Australia
    Sprott Money:

    Important Message For Customers:
    The Ontario Government has legislated that all non-essential businesses MUST BE closed BY 12:01 am on March 25. The health and safety of our employees, clients and our community is our top priority. To do our part in slowing the spread of COVID-19 we will temporarily close our administrative offices until further notice.

    Furthermore, our carrier, UPS, has notified us that all shipments will not be insured and will not require a client’s signature upon delivery until further notice. Given the nature of our business, we are not willing to take that risk with your investments. As a result, we are temporarily suspending all shipments within Canada until UPS lifts these protocols.

    Use e-mail for more expedient service.

    Please be assured that your orders will be shipped to you as soon as we can. These are valuable investments you are making, and we want to make sure we send them in a safe, secured and insured manner. Should you have any questions or concerns, please reach out to us at 1-888-861-0775 or email us at [email protected]

    Thanks for your patience and understanding in this difficult time.
     
  3. BiGs

    BiGs Active Member

    Joined:
    Jan 20, 2014
    Messages:
    822
    Likes Received:
    64
    Trophy Points:
    28
    Location:
    Sydney
    Damn, Balony has aged heaps since the last video I seen. Or maybe its just been that long lol.
     
    Holdfast likes this.
  4. ozcopper

    ozcopper Administrator Staff Member

    Joined:
    Jul 17, 2009
    Messages:
    16,795
    Likes Received:
    2,845
    Trophy Points:
    113
    Location:
    Australia
    Your not kidding. He has aged heaps!!!

     
    Holdfast and BiGs like this.
  5. Holdfast

    Holdfast Well-Known Member Silver Stacker

    Joined:
    Oct 15, 2009
    Messages:
    9,495
    Likes Received:
    714
    Trophy Points:
    113
    Location:
    Australia
    I didn't recognize the guy, he doesn't look very well.

    Have you seen Mannarino? He's as skinny as a rake.
     
    ozcopper likes this.
  6. hardyakkagold

    hardyakkagold Member

    Joined:
    Mar 25, 2020
    Messages:
    62
    Likes Received:
    92
    Trophy Points:
    18
    Location:
    Melbourne
    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.
     
    Holdfast likes this.
  7. SilverDJ

    SilverDJ Well-Known Member

    Joined:
    Nov 1, 2014
    Messages:
    4,038
    Likes Received:
    1,254
    Trophy Points:
    113
    Location:
    Australia
    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.
     
    Holdfast likes this.
  8. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    2,209
    Likes Received:
    1,264
    Trophy Points:
    113
    Location:
    Singapore
    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.
     
  9. switchtronics

    switchtronics Active Member

    Joined:
    Dec 16, 2011
    Messages:
    908
    Likes Received:
    75
    Trophy Points:
    28
    Location:
    Sunshine Coast
    The stock shortage wipe out seems to be in full swing? Could we see $3000 gold and $28 silver?
     
  10. switchtronics

    switchtronics Active Member

    Joined:
    Dec 16, 2011
    Messages:
    908
    Likes Received:
    75
    Trophy Points:
    28
    Location:
    Sunshine Coast
    Definately stock shortages everywhere, seems to be affecting pricing
     
  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    2,209
    Likes Received:
    1,264
    Trophy Points:
    113
    Location:
    Singapore
    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?
     
  12. PM

    PM Active Member Silver Stacker

    Joined:
    Sep 7, 2013
    Messages:
    361
    Likes Received:
    97
    Trophy Points:
    28
    Location:
    Australia
    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.
     
    slavaja likes this.
  13. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    8,757
    Likes Received:
    1,964
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    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
     
  14. hardyakkagold

    hardyakkagold Member

    Joined:
    Mar 25, 2020
    Messages:
    62
    Likes Received:
    92
    Trophy Points:
    18
    Location:
    Melbourne
    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.
     
  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    2,209
    Likes Received:
    1,264
    Trophy Points:
    113
    Location:
    Singapore
    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.
     
    Last edited: Apr 4, 2020
    Holdfast and PM like this.
  16. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    8,757
    Likes Received:
    1,964
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    Silver Bullion’s office is expected to be closed from 7 April to 4 May.
     
    Holdfast likes this.
  17. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    574
    Likes Received:
    723
    Trophy Points:
    93
    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
     
    Holdfast likes this.

Share This Page