Today the market of Pm’s was simply out of it. Sure GS anti-gold talking did not help combined with the FED minutes, even if Tapering is, as we know well, suspended in a limbo. Manana, always tomorrow, but nothing has been done. Things are not better than 1 or 2 years ago, or more. We have the Gov. shutdown, the QE <<ON>> mode, the debt ceiling around the corner, slowing economy and GDP, risk of cluster wars in Middle East for months now, to name some, and everything is positioned for a market rally in PM’s. But, unfortunately, also this is… MANANA.
Physical market has been moving and picking-up a little bit the past couple of days. ASE are still number 1 for silver, in general .999 is doing well, I must say, premiums are generally low and plenty of metal around. Gold is also doing very well. I think both gold and silver are moving equally or just about in dollar amount. The inventories of junk silver are back to normal levels.
Soon is going to be a good time for Proof silver eagle profits, the Mint is almost at that time of the year. You can buy a 2013 Proof ASE at 55$ or just few bucks less. These coins are guarantee to go to 65-70$ by the end of the year, very little left of it, and the profit -if you buying now and sell within couple of months- could be about 20 to 25%. Not for everybody, mind you, the moment to sell will be a not so wide window of opportunity and maybe last only few days or couple of weeks…