Afternoon everyone …
Memorial Day weekend is now upon us. Today will be the last trading day until Tuesday. The US dollar need has been climbing over the past numerous days now. Which has caused the recent drop in metal prices.
Is this the time to buy? Well here are the things to consider. Will the US dollar index keep climbing? Word on the street by the powers that be say that the FED is going to halt interest rates at the June meeting. If this happens the stock market will pump and metals will go down. But with metals already dropping will they drop much further is the question?
The spot price isn’t what concerns me as much as the premiums dealers are charging. In taking a quick look around the best premium that I found was $3.29 over spot on one ounce rounds. In my opinion this is not a good premium at all. But it’s your call.
If the premiums were reasonable I would consider making a purchase. Unless dealers run a Memorial Day special I don’t see this happening.
On a different note….
I found a few of these stuffed in the current box I’ve got from my private security place. It is from one of my favorite currently producing mints Geiger Edelmetalle. If you’ve never heard of them or don’t own anything from them. You are missing out!!!
They produce impeccable products with fantastic security features. They were the very first mint to include security features. They produce many different bars in varying weights in both troy ounces and grams for the metric folks.
Herd is one of my favorite style bars from them. It is called the traditional square bar.
Take a look….
Here is some info on them:
Geiger Edelmetalle is the oldest silver trading house operating in Germany. This family owned company is one of the leading names in the precious metal investment sector. Geiger Edelmetalle’s headquarters - Schloss Güldengossa near Leipzig - was built in 1720.
The company uses modern technology and latest developments to make sure all products are highest quality. Geiger Edelmetalle's products are made of gold, silver, platinum and palladium. Geiger Edelmetalle creates a range of precious metal products such as bullion bars and coins.
They will also buy scrap gold and silver to refine and use in their products. They will custom mint bars, rounds or coins as well.
