Gold and silver prices are down

Apmex purchased 100k silver eagles recently with a $15 premium hence the $19.99 premium they are currently asking. Very tight supply and silver could be outperforming gold in the near term.
 
76Too said:
Can you elaborate? It HAS to be at least another .75bps hike, don’t you think?
Click to expand...
I think you are right - likely .75bps. Potentially creates another selloff in everything including PMs.

Here's my basic experience... I value, enjoy owning PMs, and expect others to either buy more than they currently have or start to buy PMs if they have none. I've historically been confident that this, mass buying of PMs is imminent, and have therefore seen every data point (fed decision, cpi reading, etc) as the moment that this will occur. My sense now is that this will occur over time - several years. I think there might be some big days in there but the totality of the move could take a decade or more IMHO. Again JMHO and based solely on experience. I don't have any special information or unique knowledge that I'm working from.
 
smokey-seven said:
www.nxtmine.com

As Physical Silver Demand Soars, Bullion Dealers Offer Huge Buy-Back Premiums

As Physical Silver Demand Soars, Bullion Dealers Offer Huge Buy-Back Premiums For those who have been keeping an eye on silver, things are...
www.nxtmine.com www.nxtmine.com
Click to expand...

View: https://twitter.com/zerohedge/status/1585383905993129988?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1585383905993129988%7Ctwgr%5E92a4a312d28087af4c656fc19e951a9d58514737%7Ctwcon%5Es1_&ref_url=http%3A%2F%2Fwww.godlikeproductions.com%2Fforum1%2Fmessage5266946%2Fpg1



View: https://twitter.com/zerohedge/status/1585217464371142657?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1585217464371142657%7Ctwgr%5E92a4a312d28087af4c656fc19e951a9d58514737%7Ctwcon%5Es1_&ref_url=http%3A%2F%2Fwww.godlikeproductions.com%2Fforum1%2Fmessage5266946%2Fpg1


View: https://twitter.com/WallStreetSilv/status/1585129449389191172?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1585129449389191172%7Ctwgr%5E92a4a312d28087af4c656fc19e951a9d58514737%7Ctwcon%5Es1_&ref_url=http%3A%2F%2Fwww.godlikeproductions.com%2Fforum1%2Fmessage5266946%2Fpg1
 
“Among large buyers were the central banks of Turkey, Uzbekistan, Qatar and India, but the WGC said a substantial amount of gold was also bought by central banks that did not publicly report their purchases.” Hint hint

www.kitco.com

Record central bank buying lifts global gold demand, WGC says

Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
www.kitco.com


It feels like ‘68-‘70 all over again.
 
The only thing I'm buying right now are world silver coins that are selling for the price of their silver content and even there I'm spending peanuts. Everything else seems destined to continue to fall. I'm sure they will rebound but it doesn't seem imminent. It feels like any money I might spend on PMs now is money that I could have used to buy more PMs in the future.
 
Agreed. Major areas of support rounded are at $1570 1450, 1270, 1170. I can see us getting into the 15’s or possibly 14’s.

Hopefully not lower unless the economy really tanks, but a major floor around $1200+- still looms. That would be pretty drastic however.

I think if the GOP wins back in Nov then we could see a pro-business bump until forecasts around the presidential election kick in.
 
Any thoughts on GDX and GDXJ rising over 8%? Sustainable? Decoupling from general markets? Of course the USD drop might or might not last due to over bought status but the selling of treasuries and illiquidity of the treasury markets might be the nail in the coffin.
 

Agnico Eagle Mines - Pan American Silver Offer Around $5B To Buy Yamana Gold​

BY BENZINGA — 11:01 AM ET
  • Yamana Gold Inc (NYSE:AUY) received an unsolicited binding proposal from Agnico Eagle Mines Ltd (NYSE:AEM) and Pan American Silver Corp (NASDAQ:pAAS) to acquire the company in an almost $5 billion cash-and-stock deal.
  • Total consideration consists of $1.0 billion in cash and the issuance of approximately 153.5 million Pan American shares and approximately 36.1 million Agnico shares.
  • Under the terms of the offer, Yamana shareholders would receive $1.0406 in cash, 0.0376 of an Agnico Share, and 0.1598 of a Pan American Share for each share held.
  • Gold Fields Limited (NYSE:GFI) had agreed to acquire Yamana Gold for $6.7 billion in May. The outstanding Yamana Shares will be exchanged for 0.6 of an ordinary share of Gold Fields.
  • Yamana informed Gold Fields that the new offer constitutes a "superior proposal" and has five days in case it wants to amend its existing offer.
  • A special meeting of Yamana shareholders to consider the Gold Fields Arrangement is scheduled for November 21.
  • Price Action: AUY shares are up 17.6% at $4.80 on the last check Friday.
 

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