Posted on 01/31/2021 10:38:48 AM PST by blam
Update (1100ET): For some background on just how unprecedented this weekend's action in silver markets is, Tyler Wall, the CEO of SD Bullion writes the following (emphasis ours):
In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open.
In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend).
However, everyone we talk to is afraid of a gap up at Sunday night market open.
This is about ready to get really interesting as there was very little inventory left from suppliers/mints going into Friday close.
Our direct AP supplier informed us after close on Friday that the "US Mint will be on allocation for the remainder of Type 1" (Current Silver Eagle Design).
Our sales for the month of January exceeded any one month last year during the heart of the pandemic. It was an all-time record month in our company history.
And, perhaps most importantly, as QTR tweets so succinctly, "this is a red pill moment for many, and it's beautiful."
The thing is that no matter what happens with #SilverSqueeze, a lot of younger people are for the first time informing themselves that metals are the only true real money. That realization sticks for life, even when squeezes end. This is a red pill moment for many & its beautiful — Quoth the Raven (@QTRResearch) January 31, 2021 * * *
Update (1030ET): It would appear the run on silver has begun. With the market closed, traders have rushed to secure some exposure to silver ahead of what WSB suggests could be "the world's biggest short squeeze" and that has left bullion dealers
As we noted below, the premium for physical silver had soared late Friday and into Saturday (after the massive flows into SLV), but as Sunday rolled around, bullion dealers are now facing massive shortages of physical coins.
Musical chairs.....
Crank up your favorite tunes!
I knew I should have bought more Friday. I’m betting it all on Mondays opening. I missed out on the Tulip craze in Holland. I missed out on Gamestop. I’ll be darned if I miss out on this.
still sitting around $27/oz on international markets right now.....
This leaves out the price.
Silver Could Explode Within Weeks
Posted today at noon:
I bought more right after the steal in November. Higher than I liked but I figured inflation’s gonna hit us soon. Gold Eagles are available.
Did they "spark" a nationwide shortage or "expose" a nationwide shortage?
Are we watching a new demonized villain in the making?
-PJ
An engineered global financial catastrophe would play directly into the hands of the Marxist globalists. They have the power. Covid and Cash $$$$!
Especially brass and lead.
I don’t have any precious metals so might help with short squeeze on SLV and see if it doesn’t rally.
I’ve spent more money on silver and bullets than food since November.
How much of those sales went to Asian buyers?
I've read that there is seven times more copper in electrical vehicles than in gas vehicles.
Then....I read this a couple days ago:
General Motors Sets Goal Of Going Largely Electric By 2035
That's about 15 years from now.
Do I see a copper shortage in the near future?
Sky rocketing copper prices?
Time to buy now?
Go on Ebay and look at what the real market price of silver is. Right now nothing is going for under $35.00 per ounce and many are going for over $40.00.
Probably.
Ping!
Here is some data from the website that is of interest.
1. Industrial fabrication Demand in 2019: 510.9 million ounces
2. Jewelry Demand in 2019: 201.3 million ounces
3. Bullion coins and silver bars Demand in 2019: 186.1 million ounces
4. Silverware Demand in 2019: 59.8 million ounces
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