After the great move back above 1300$ and 20$ , our present Rubicon line in Pm’s so to speak, the metals are still delivering a nice resilient performance today, especially silver which is aiming at the 20.50-20.60$ resistance level. Gold is more less comfortable at 1300$ levels. Yesterday morning the $20 gold pieces went up 20$ and after couple of hours gave back all the gain even with price of gold unchanged. Volume was about average to busy, while today we had some calls but for smaller trades. Summer time is penalizing a bit this otherwise meaningful move up for gold and silver. There was a certain interest for 999 silver products with lower premiums like 100 oz. ASE are still flying pretty high, premiums stabilized at around 3$ quarter more or less, and we got 10,000 units this week and half already sold or was shipped out from previous orders… We also just reorder another 10,000 ASE just to play safe. So far the pipeline is flowing stable ma make no mistake, it just fells like a spike in physical demand or a spot price mini-crush into lows and bottoms levels could easily reopen the argument for metals shortages and delays. We are walking on a fine line, especially the paper-masters that soon are going to encounter delivery problems and cash settlements as COMEX and JPM are looking more vulnerable and some sort of smoke is coming out of their vaults…
Later for more and, as always, thanks for reading!
Please subscribe, share and keep the stacking going!
