Morning everyone.....
I spent most of the day yesterday and last night cleaning up and organizing my shop. I had been working balls to the wall for the better part of two weeks, in order to meet my install date.
I am one of those people especially in my shop, that everything has a place. Not only that but it needs to be in that place, so when I am in the zone working I don’t break my rhythm and concentration by having to go and find what I need.
As I digress....
During this time instead of listening to music, I like to listen to interviews and podcasts. I’m a huge sports fan so a few of them are sports related, but most of them have to do with the market and investments.
I don’t waste my time with the crazy pumpers saying silvers go to $1000 and gold will be $10,000. That’s just plain ridiculous. I do however listen to several podcasts of ex banker/financial people that while no longer doing it as a profession. Are still extremely active in keeping their knowledge up to date and current, while trying to continue to increase their portfolios.
While several of them had their own minor twists to what they were thinking is going to happen within the next 60-90 days. They did all agree that if gold drops below the $1,700 level and stays under for more than a day or two. We will see a major drop in the gold price.
A couple said possibly as low as the $1,400 level again. A couple others were more conservative stating that $1,500 is where they see it leveling off.
The same goes for silver, but silver being a more volatile metal it will have a bigger drop in price. One said as low as $20 an ounce. But most think the $22 level is most likely the landing spot.
Why is this important....
If these prices are realized in the market, it will absolutely blow up the paper side of both gold and silver. There will be all sorts of calls to be made and people will be dumping the contracts left and right.
The experts think if this happens the prices of gold and silver will climb back up to where they actually should be. But it won’t be big spikes up and down like we’ve been seeing. More of a gradual increase over a 90 day cycle.
None of them see premiums on physical metals coming down any time soon. No one is selling whatever they have and the supply chain is getting smaller and smaller.
On a different note some how, some way the Scottsdale Mint got their hands on a major silver delivery of 1,000 ounce bars of silver. This was reported on one of the podcasts. They had a 5,400% increase in sales for the month of February versus last year. Yes a 5,400% increase, that was not a typo.