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Gold And Silver Coin And Bar Shortages Globally
Today’s AM fix was USD 1,472.50, EUR 1,125.51 and GBP 947.80 per ounce.
Friday’s AM fix was USD 1,462.25, EUR 1,123.43 and GBP 947.79 per ounce.
Cross Currency Table – (Bloomberg)
Gold fell $7.00 or 0.48% Friday to $1,467.30/oz and silver finished down 1.65%. Gold and silver both gained for the week at 4.74% and 3.11%, respectively.
Gold rose another 1% overnight in Asia, consolidating on last week's 4% gain.
Gold in USD, 1 Month – (Bloomberg)
The slight rebound in prices from multi-year lows has as of yet failed to dampen the global appetite for bullion, causing a shortage in the physical supply of gold coins and bars.
Recent bleak U.S., European and Chinese growth data is also supporting gold due to concerns of recessions and of a global depression.
Central banks including the Federal Reserve and the ECB are set to continue with ultra loose monetary policies which will support gold.
Gold in Euros, 1 Month – (Bloomberg)
The ECB has kept its main interest rate at a record low of 0.75% since July 2012 and may reduce interest rates to 0.5%, either this week or in June. This will further deepen negative real interest rates in most countries in the Eurozone.
The Fed alone is set to keep interest rates near 0% and continue its current pace of bond buying at a whopping $85 billion a month.
Ultra loose monetary policies will support gold as it is a hedge against currency devaluations and inflation and stagflation - all of which are real risks.
Gold in British Pounds, 1 Month – (Bloomberg)
Premiums for gold and silver bars have jumped higher all over the world. They have surged to multi-year highs in Asia. Reuters reports overnight that premiums are surging due to "strong demand from the physical market, which has led to a shortage in gold bars, coins, nuggets and other products."
Shortages of gold and particular silver coins and bars is not confined to the small coin and bar market and there are also supply issues in the larger bar market with kilo bars being increasingly difficult to secure.
Swiss refineries are struggling to meet global demand for refined gold bars. They have been cleared out of their stock of kilo gold bars – the preferred form of gold bullion amongst many store of wealth, affluent buyers in Europe and Asia. Buyers have been told that they will have to wait until late May prior to receiving delivery on paid for product.
Shortages are most prevalent in the silver coin and bar market where premiums have surged.
Silver coins and bars can now not be bought from the largest bullion dealers in the U.S. who have been cleared out of stock in recent days. Unlike after Lehman Brothers where there were shortages and delays of 3 to 4 weeks, there is no guidance being given as to when certain gold and silver coins and bars will be available again.
NEWS
Gold rises 1%, holds near one-week high - Reuters
Gold Bears Defy Rally as Goldman Closes Short Wager - Bloomberg
Fund managers see opportunity in gold’s price drop – The Boston Globe
Gold falls Friday, but scores 4% gain on week – Market Watch
COMMENTARY
Everything Is Rigged: The Biggest Price-Fixing Scandal Ever – Rolling Stone
Canada home to 10% of Swiss bullion – The Globe and Mail
Keiser: The Psyops Of The Gold War - RT
Sinclair: The Rig Is Up – JS Mineset
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In the company I work for, we have a extremely decorated Vietnam war hero who remains a great American patriot. I've discussed my concerns about SHTF and my ammo preps. He laughed and said if the situations arose that I needed to use it, I probably wouldn't survive to shoot through a fraction of it. I'm starting to believe there will be a glut in the market at some point as more people get well supplied.
he’s obviously forgetting how Vietnam went – those who were armed and fighting Americans did manage to defend their home territory.
Gaoptimize, he has a point in an either-or scenario ... either crushing martial law or Mad Max.
It's the in-between you get ready for imvho - when there are not enough cops to defend peripheries, when you resort to carrying a loaded handgun in the glovebox or under the seat in certain areas of town.
Big patriot often = big simpleton.
A saturation point will eventaully reveal itself. And then I'll become a buyer, too.
Having said that, I wouldn't want to be the guy who has none on hand. If you ever find yourself in the unfortunate circumstance of *needing* ammo, I guarantee you'll want as much as you can get your hands on. Right now. Immediately.
"Better to have it and not need it than need it and not have it."
(A saying I use all the time in the military)
those SLVO ads I'm seeing in the banner spot up top are funny.
especially the *Does not provide title to any actual silver part.
LOL, its almost like they're saying, don't expect your money back.
I bought a bar in a Swiss bank mid-last week with no problem.
I was listening to Bob Brinker yesterday (don't ask why). He's saying that, the one-two punch of gold not hitting $10,000 yet, but recently retreating $200 , proves that buying PMs is a fundamentally flawed idea. "And show me where quantitative easing hasn't help us?".
I almost drove off the road. Amazing.
Bob was good for the average investor when times were good and the rule of law existed. But Bob doesn't have a clue now. He was completely surprised by 2008 and most recently cypress. He's about to get a big surprise again, not understanding the difference between paper and physical...
Hack amateur economist and financial "advisor" is ignore "Monetary Theory" to peril.
Brinker: mainstream establishment bankster shill neocon.
Swiss Banksters must drink a lot.
Swiss depositor soon drink much, too.
In other news, Russian Vodka Export rise year over year.
. . . . . .
(in reply to divine wind)
Quietly and quickly acquire.
Do not speak to anyone about what you have or where it is stored.
Be the grey man once gold really takes off. Blend.
Do not squander. Wait for next undervalued asset class.
If you have an abundance, share with the poor.
If you see PUD, do not laugh at him.
I'm shocked that PUS has not dragged his shitty ass through this thread yet.
Must be attending his Womyn's Studies and History of Progressive (sic) Thought lectures today.
Nothing like a running start before a jump.
bull trapped dead cat bounce?
Problem with cat is not bounce because fur. Must shave first.
Shaved cat. Yeah, I better not go there...
There's a burning fur joke to be reincarnated here, I believe.
Boris is learn shave cat before barbecue. Smell of burning fur is noxious, but worse is hair caught in teeth.
I hearing hair of dog cure for next morning of hangovers but hair of next pussy of morning is entire other story, comrade!
Boris, cats peel like a banana, no need to shave !!!
P.S. MIG 23 brake fluid, over ice, goes great with barbecued cat !!!
Boris' nephew in Russian Federation Airforce (not pilot but is custodial ground crew) and learn hard lesson drink jet fuel and fluid. First must is distill for remove of Methanol.
Sweet Jesus. I can't stop thinking about shaved cats now. Millions & millions of sweet, sweet, shaved cat.....