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Andy Schectman: Silver premiums drop to lowest levels in 2 years

Smithys Bullion - FINE GOLD AND SILVER
ozcopper

ozcopper

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It was a difficult week for #gold and silver investors coming out of the 4th of July holiday, as the metal prices dropped along with the stock market on increasing recession fears.

Although despite the falling #COMEX futures prices for the metals, gold and silver dealer Andy Schectman of Miles Franklin reports that customers were still buying physical metal. With most wanting to take advantage of the lower prices, which has also resulted in the lowest silver premiums for many products in almost 2 years.

Perhaps the biggest factor dictating the market pricing, is that many investors are just confused right now, and unsure of how to respond to the Fed?s interest rate hikes. Even Jerome Powell recently admitted that he understands how little he understands about inflation, and it?s not surprising that there?s little consensus about what actually happens next.

But to find out how precious metals investors are responding, what?s going on with the physical market order flow, and the latest news about silver premiums, click to watch this video now!

[youtube]https://www.youtube.com/watch?v=JVX3ZhxrFzs&ab_channel=ArcadiaEconomics[/youtube]
 
And now a few months later everything apart from high premium 1oz options are sold out or on back order.
I imagine premiums are just going to keep going higher for the foreseeable future.
 
Listened to an interview yesterday and the U.S dealer was complaining that they can't even get 1000oz bars.
 
I take my advice from my geologist mate .
His call is
There is going to be a further divide between " spot price "
And
Physical delivery
Silver miners are NOT selling at spot or below like they used to ,
But are now demanding closer to physical price & it's being bought up .
Future sales , what's in the ground .
That price does NOT reflect on the " spot price " as the transactions aren't happening on the metals exchange's .
So when people winge about premium's
::)  ::)  ::)
American's are paying 70% premium for physical
Australia is at 30%.
That's the thing to watch
The % over spot for physilca
 
Definitely not for Kiko's but it's their government Mint issued coin.... A 70% premium is madness.
 
I think-and from the recent conversation with a big dealer-premiums are going to increase next year.I dont think it will be shortage only much less variety,especially in coins.
 
I don't mind the decrease in variety so much as the disappearance of bog standard stacking options. I understand that mints would MUCH prefer to sell high premium coins but that's coming at the expense of affordable stacking coins and bars.
 
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