Precious Metals And The Coronavirus

And on the Ides of March--good planning.

 

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So where is the bottom? Silver down $2.73 an ounce this morning and gold down $71.60 an ounce as of this post

 

don't forget Platinum. Down $123 to $642/oz ... totally amazing
and Palladium at $1540 ... which was at $2795 about 20 days ago.

moving over to Cash ...

 

At least you can use cash as TP once it also becomes worthless

 

yes you can wipe your rear with $1s .. can't do that with PMs ...
well, technically you can make Gold leaf and use that as tp too.

 

I mean, you could use the PMs as a sort of scraper or something...Ala Demolition Man

 

People think that when recovery returns, the non metal financials are where the largest returns will occur for a careful trader. They are dumping metal to go to cash until the virus vaccine allows the markets to take advantage of the Quantitative Easing and really increase their holdings. Cash seems to be king right now in their minds. IMO ,IMO, IMO. Jim

 

I wouldn't mind buying a kilo (or 35 oz coins) of Gold right about now if I can get it for spot ... or maybe not.

 

Next round of margin calls today 12-2 Eastern time. Gotta sell what they can. Lookout below

 

There's much less leverage in the system. You can see that by the lack of liquidations after a record 20% and 30% decline in the mareket and the rapid rise in the VIX volatility index.

 

You know, if you are going to be in ok financial shape for some time regardless of what happens with coronavirus over the next 6 months or so, imagine how well off you'd be if you could purchase lots of platinum and silver right now?

We haven't seen prices this low for some time. Considering both silver and platinum are industrial metals and economic output is shrinking around the world (China industrial production down 13.5% already https://www.ft.com/content/318ae26c-6733-11ea-800d-da70cff6e4d3), once the recovery happens this metals are very likely to jump back up.

 

Equity Strategy from Morgan Stanley:

 

Not sure where one can even get silver at the spot price of $13 with normal premiums. Bars are sold out and not fond of them anyway. Rounds all have heavy premiums. Cheapest generic round on Provident is $15.40 which is normally the premium for ASEs. Maple Leafs are more expensive at $13 spot than what I bought on Friday at roughly $15.80.

 

What's going on now looks like fear. Spock would say that is delusional.

 

Where are you getting that statistic from?

 

This from the society that denied the outbreak and jailed whistleblowers? I'll have to see verifiable numbers, like from Italy or South Korea.

 

That's what you use your GM stock certificates for.

 

john hopkin's university has an updated chart / dashboard
https://systems.jhu.edu/research/public-health/ncov/

full dashboard
https://www.arcgis.com/apps/opsdashboard/index.html#/bda7594740fd40299423467b48e9ecf6

edit: oops, wrong thread

 

Good Luck finding decent premiums right now. Can't find a thing.

 

Everyone knows your politics. As a Moderator, you should lead by example and confine your comments/opinions to coins...and keep your politically inflammatory opinions to yourself.