The answer is: almost nobody, in fact, beside selling paper phantom contracts, almost nobody is selling PM’s. Today, with metals down 60+$ in gold and over 1.50$ silver, at the very least 90% of the many calls we had (about double or so the average volume) were CALLS from other dealers, coin shops and big private investors, BUYING silver and Gold. I wrote about ten trades today, 9 people bought and only 2 were selling. The percentage and volume of our sales of PM’s were multiples of our purchase orders. Silver Eagles and 1 oz Buffalo Rounds were the 2 best sellers. I purchased very little 90%, miscellaneous .999 odd weight bars and round and some small US gold in very low-grade.
So who is selling all the silver? THE BANKSTERS and HFT are triggering this new sell off in gold and silver. That is.
Once you understand this, let’s talk about who is selling in reality all the silver: The U.S Mint! Consider that the US mint had just reported a record first half of the year (24.2M ounces) and posed for a ~50M oz of silver sales for the year that will beat even the record of 40M in 2011. This is a mere paper manipulation scheme, and if you can buy more now you won’t regret it by the end of this year. You can take it to the bank, actually no, don’t do it: that it is not a safe place for your money…