If any of what we are seeing within our markets is factual and true, then why can no one find and buy real physicals at the Comex prices? As far as getting bars from the Comex Warehouses, we are told it’s still happening but that has to be questionable, at best. Yet the disparities between what is called Comex, the last place on the planet to buy anything in size, is suppose to be the real, then why is there no place here in the USA with product in stock?
Buyers across our country cannot find physicals period! If there is an ounce sold, sellers are refusing to accept any deal without a substantial premium to Comex. Both Coasts are showing a $10 spread for Silver. As far as Gold, just add $200 to Comex’s price anywhere and you’ll be close enough to getting that ounce, maybe. Check yourself, most suppliers are out of everything.
If everywhere one looks to buy physicals yet cannot get it at or near the quoted Comex price, then the lie is at the exchange because they trade the paper, not the physical (ok, the exception maybe 1/10th of 1% of all trades). There are reasons to watch as the Comex corrects; Look at the spreads the arbitragers are going to make money on, when they buy from the Comex. They take the big bars, and have them melted into 1- and 10-ounce bars, then sell them to the retailors because people want the products! The arbitragers maybe about to settle out the differences between the real price and the Comex price, but by then, the prices could be substantially higher. Said another way, Comex is about to correct itself much higher, because that spread between the real price and the Comex is at 43% in Silver and Gold has a 12%+ spread!
I’ve spoken with Bill to see if he can access anything. The answer in two words, “very limited”. If you cannot locate physical, while this dip is in, you may not be able to get any going forward (until?). All dynamics have changed since the virus. Our economic system is in trouble and so is our debt markets. The point is, this war in price has gone asymmetric, and has made the cash market (street price), The Real Market! COMEX prices have become totally irrelevant. In the absolute extreme, COMEX contracts could go to zero and physical metals could be unobtainable. A reminder of the most recent audios with the boys in the subscriber’s side is a comment Jim had made; “what is a contract worth that cannot perform”? His answer was zero!
Contact Bill Holter to get a real quote on the real product, and get it in your hands while there is still product to be had.
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