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Silver Squeeze Continues
Metals have been steady this week with encouraging signs that the recent support level of USD $1,680 has held for gold, silver is tracking sideways at $25 USD, despite the unprecedented demand for physical metals by retail investors. Just like clockwork gold has managed to hold trendline support on the longer-term daily chart and continues to form a base above $1,700 which is positive.
So, it seems there are two opposing markets in precious metals right now; the physical market is seeing a huge increase in demand in both February and March this year, whereas gold and silver ETF investors have been dumping their positions, putting pressure on the price for now. The main story to cover this week is the lack of availability of physical silver bullion investment products globally as bullion dealers and refineries and struggling to keep up with both demand and a new phenomenon of accelerated requests for physical delivery from storage or pool accounts.
Gold and Silver News
From Guardian Vaults
Silver Squeeze Continues
A big movement in the silver community of late has focused on investors standing for delivery out of pool and unallocated accounts. We have indeed seen a big increase in clients that have either barred their pool products from other dealers, or asked for physical delivery to store in their own segregated safe deposit box here at Guardian Vaults, particularly in large silver shipments. There is an old saying when it comes to silver ownership, and that is ‘if you don’t hold it, you don’t own it.’ Something we believe in strongly, as often investors will be unaware of the type of product they buy and get caught out when they stand for delivery. Luckily, not an issue for our investors at Guardian Gold, as everything we do is physical product stored in individual safes and deposit boxes, with no offering of synthetic products that simply track the spot price.
Metals have been steady this week with encouraging signs that the recent support level of USD $1,680 has held for gold, silver is tracking sideways at $25 USD.
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John Feeney
Guardian Gold Sydney
If you have any feedback or questions about this report, you can contact John Feeney direct at johnf@guardianvaults.com.au or on Twitter @JohnFeeney10
To find out more feel free to call through and speak to one of our representatives or email your questions to sydney@guardianvaults.com.au
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Click to see our latest 1Kg Perth Mint Silver Special
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https://www.pewresearch.org/science
https://tradingeconomics.com/united-states/government-bond-yield
https://www.fxstreet.com/analysis/the-santa-rally-approaches-a-halftime-break-202011200038
https://www.intellinews.com/attack-of-the-debt-tsunami-global-debt-soars-to-a-new-all-time-high-196972/
https://fred.stlouisfed.org/series/M2https://stockcharts.com/h-sc/ui
https://www.businessinsider.com.au/warren-buffett-indicator-nears-record-high-signals-stocks-risky-overvalued-2020-11?r=US&IR=T
https://www.multpl.com/shiller-pehttps://www.tradingview.com/chart/?symbol=SP%3ASPX
Disclaimers: Guardian Gold, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults” & “Guardian Gold”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Gold, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Gold, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Gold, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.
Silver Squeeze Continues
Metals have been steady this week with encouraging signs that the recent support level of USD $1,680 has held for gold, silver is tracking sideways at $25 USD, despite the unprecedented demand for physical metals by retail investors. Just like clockwork gold has managed to hold trendline support on the longer-term daily chart and continues to form a base above $1,700 which is positive.
So, it seems there are two opposing markets in precious metals right now; the physical market is seeing a huge increase in demand in both February and March this year, whereas gold and silver ETF investors have been dumping their positions, putting pressure on the price for now. The main story to cover this week is the lack of availability of physical silver bullion investment products globally as bullion dealers and refineries and struggling to keep up with both demand and a new phenomenon of accelerated requests for physical delivery from storage or pool accounts.
Disclaimers: Guardian Vaults Holdings Pty Ltd, Registered Office, Scottish House, 100 William Street, Melbourne, Victoria, 3000. ACN 138618176 (“Guardian Vaults”) All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher and/or the author. Information contained herein is believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation. Guardian Vaults, its officers, agents, representatives and employees do not hold an Australian Financial Services License (AFSL), are not an authorised representative of an AFSL and otherwise are not qualified to provide you with advice of any kind in relation to financial products. If you require advice about a financial product, you should contact a properly licensed or authorised financial advisor. The information is indicative and general in nature only and is prepared for information purposes only and does not purport to contain all matters relevant to any particular investment. Subject to any terms implied by law and which cannot be excluded, Guardian Vaults, shall not be liable for any errors, omissions, defects or misrepresentations (including by reasons of negligence, negligent misstatement or otherwise) or for any loss or damage (direct or indirect) suffered by persons who use or rely on such information. The opinions expressed herein are those of the publisher and/or the author and may not be representative of the opinions of Guardian Vaults, its officers, agents, representatives and employees. Such information does not take into account the particular circumstances, investment objectives and needs for investment of any person, or purport to be comprehensive or constitute investment or financial product advice and should not be relied upon as such. Past performance is not indicative of future results. Due to various factors, including changing market conditions and/or laws the content may no longer be reflective of current opinions or positions. You should seek professional advice before you decide to invest or consider any action based on the information provided. If you do not agree with any of the above disclaimers, you should immediately cease viewing or making use of any of the information provided.