Reddit #silversqueeze redux

Discussion in 'Silver' started by 66rounds, May 8, 2021.

  1. jultorsk

    jultorsk Well-Known Member Silver Stacker

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  2. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    Gold Dealers Swamped by Demand as War Creates Inflation Scare
    • Gold flirts with levels reached during Covid-19 pandemic
    • Retail investors are snapping up the metal across the globe
    Russia’s invasion of Ukraine has sent the price of everything from oil and gas to wheat and metals skyrocketing, sparking inflation fears and threatening global growth. That’s driving retail investors everywhere from Vienna and Singapore to New York to the safety of gold, which spiked to $2,070.44 an ounce, close to the record reached during the pandemic.

    The almost 10% surge in gold prices since the start of the year is turning into a boon for bullion dealers like Rudolf Brenner, founder of Philoro Edelmetalle GmbH, whose shops in German-speaking Europe now have long lines of buyers -- a trend that’s likely to continue with the conflict showing no signs of abating.

    “When the crisis in Ukraine started, we saw massive orders” said Brenner, whose sales are triple their normal level. “People are buying everything.”

    Similar stories are emerging from gold dealerships around the world. At Empire Gold Buyers in New York, Chief Executive Officer Gene Furman says 30% of his customers trading luxury items like watches and jewelry want bullion instead of cash. Gregor Gregersen, founder of Silver Bullion Pte Ltd. in Singapore, saw gold and silver sales rise 235% in the first week following Russia’s invasion, and demand has only intensified since.

    “Investors are thinking along the lines of a worst-case scenario with the war in Ukraine and are finding it prudent to buy physical safe-haven assets in a safe jurisdiction like Singapore,” Gregersen said.

    The soaring demand comes after an already strong year for physical metal buying, particular in western nations. Demand for bars and coins hit 1,124 tons in 2021, according to the World Gold Council, the highest in almost a decade. That helped support prices at a time when institutional investors weren’t dipping in as much.

    The current clamor for physical gold is causing already high premiums on retail investors’ favorite versions of the metal to extend gains, a sign of their scarcity. To get their hands on a one-ounce bar, buyers may need to cough up as much as $100 over the spot price.

    Premiums are up about 25% at physical bullion brokerage Goldcore and are expected to rise further, according to its chief executive officer, Stephen Flood. In his view the main driver is concern about the financial sanctions on Russia, which have “politicized and weaponized” the payments system.

    “It’s the ultimate backup plan to have the metal within reach,” Flood said. “Everyone and their mum is looking at precious metals now.”

    But it’s not a one-way street. Many are bringing their bars, coins and jewelry back to the dealers to cash in on prices that haven’t been this high since the summer of 2020. Back then, there was a spike in activity as lockdowns eased and people flocked to gold stores to trade in the haven.

    Still, there are more gold buyers than sellers now, according to Ash Kundra, who runs J Blundell & Sons in London’s historic Hatton Garden jewelry quarter. He attributes it to the far more fearful environment among retail investors.

    “I’m buying about 60% of what I was in 2020,” he said. “Now, I’m selling more.”

    https://www.bloomberg.com/news/arti...mped-by-demand-as-war-creates-inflation-scare
     
  3. Bullion NetWork

    Bullion NetWork Active Member Commercial Member

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    We have plenty of 1kg bars
    BUT
    They walk out the door as soon as they come in .
     
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  4. Bullion NetWork

    Bullion NetWork Active Member Commercial Member

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    Just called our main supplier .
    1 month + wait on all bars .
     
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  5. Bayside Bullion

    Bayside Bullion Active Member

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    Kilo Silver Bars in stock now but they get cleared out every 2nd day, have good regular supply coming in but any large orders also be up to a month wait
     
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  6. heartastack

    heartastack Well-Known Member Silver Stacker

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    A bit more than a year on. There was a definite lull and stalling of membership, but it's crept back up and nearly at 230k now. WSS is definitely becoming a force on reddit and twitter now. They could be half a million strong soon especially if metals march on. (yes, the content is still mostly rubbish)
     
  7. heartastack

    heartastack Well-Known Member Silver Stacker

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    Surely it has to be noted that Musk is interacting with WSS

    C66E6CFD-F595-4289-8F5D-A25C87D58057.jpeg
     
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  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Why does it matter that a technocrat retweets a reddit forum?
     
  9. heartastack

    heartastack Well-Known Member Silver Stacker

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    Depends what matters to you, I think the exposure from a high profile individual is a positive force for interest in metals, and probably the eventual bull market -> pump & dump
     
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  10. 66rounds

    66rounds Well-Known Member Silver Stacker

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    He will play with silver the same way he played with shib and BTC. He is just the circus while everyone runs out of bread. Enjoy the clown show while it lasts.
     
  11. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    I suppose both WSS and Musk understand CBDC's lead to a parallel market. Musk could, just technically speaking, easily come up with an alternative to it, just as WSS is pitching to him.

    Screen Shot 2022-12-26 at 7.58.01 AM.png
     
  12. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    I don't understand the obsession with CBDCs out there. The government doesn't need a CBDC to control the money supply nor track spending. Parallel markets in currencies have been around far longer than the spectre of a CBDC.

    WSS just promoting fear to pump silver.
     
    Last edited: Dec 26, 2022
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  13. heartastack

    heartastack Well-Known Member Silver Stacker

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    Hostile takeover/changing of the guard occurring today

    upload_2023-7-12_8-12-15.png

    upload_2023-7-12_8-12-33.png
     

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