Gold & Silver Prices Fall – What About Premiums?

#GoldPrices #SilverPrices #GoldCoinPremiums

In this podcast video we look at why gold and silver prices fell this morning and provide a brief update on other financials.

we also discuss premiums on physical gold and silver coins and bars and why we believe these may be short-term only.

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Today is Monday 30th March 2020 and yesterday we produced 2 hopefully topical videos entitled:
Will Cash Pour Back Into Equities Soon?

Why You Should Look Out for The Jobs Figures This Week

and on Saturday we published our gold and silver weekly update for the week ending 27th March 2020.
Gold & Silver Weekly Update w/e 27th March 2020

we have placed links to both of these in the description box below.

In these videos we pointed out that whilst we believe gold will remain reasonably positive we still have some doubts about silver being able to maintain its recent rise at least short term, that we should also watch the job figures this week and further look at equities as it will not be long before they will undoubtedly look like bargain propositions to professional investors.

Also last week we commented on why, in our opinion one should not pay outrageous premiums for physical silver and also to watch out for the same happening in the gold market and that there will be opportunities in the months ahead to acquire both of these precious metals with much reduced premiums and that it may be wise to consider acquiring alternative forms of gold whether it be scrap or jewellery or non-coins providing, and this is important, providing they are close to or preferably below spot price, or alternatively consider using organisations such as Bullion Vault or dealing via SLV or GLD.

There are of course a number of reasons, why premiums have risen, not least being unprecedented physical demand has caught most dealers and Mints short, supply and transport links have been disrupted and of course each dealer or person within the supply chain also using the opportunity to make extra profits as to be fair since 2011 there have been limited opportunities to do so.

However we admit, that the almost JIT (Just In Time) Supply processes which have been adopted with no Mint or Wholesaler or Dealer wanting to hold unnecessary stock levels especially with volatile prices (even though they hedge them) means that even in future, when there is excessive demand we shall see similar premiums being charged which does not truly reflect the global mining of the precious metals, but just the immediacy of availability at that time.

Now this morning we thought we should look at 2 articles published by Bloomberg for interest, one a few days ago and one this morning.

Before we do that its worth noting that as we produce this which is 10.42 GMT – we can see that overnight and this morning, Asia Pacific Markets are down an average of 1.5% and European Markets are down an average of 1%

At the same time, gold is down $9 but is up £2 because of the weakness of sterling against the dollar this morning and silver is down 51 cents or 29 pence. We suspect that we shall see silver potentially breach below the psychologically important $14 but it does remain quite supportive,

Mentioning the dollar strength, we can see that the dollar spot index is up 0.45 at 98.8

OK so let’s listen to these 2 articles.

So we can see that although stocks achieved a recovery last week, equities are not out of the woods as yet. Silver is certainly taking another hit as the global trade position forecasts deteriorate and gold whilst holding up well is still subject to a degree to the vagaries of US dollar strength.

We stated in our weekly update that this will be a most interesting and potentially volatile week with a considerable amount of economic data being published.

What are your thoughts as we are about to enter a new month – will gold prices be higher at the end of April than they are now? What about silver and equities and also not forgetting oil prices which have fallen again this morning with Brent Crude down $1.91 at $23.02 and WTI Crude down $0.92 at $20.59.

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