PM Daily Market Commentary – 02/25/2021
Physical gold still trading at a premium and hard to get. It seems to me that there is a split happening between actual physical gold prices and paper gold prices. Half the gold on the popular sites are ‘out of stock’.
What is available is selling at a premium.
When you look at the price manipulation and the stunts they just pulled with the reddit traders, I just can’t see the logic in playing around in these paper markets. Its blatantly rigged, thats not just something we “say” anymore out of frustration. Its now recorded, undebatable fact.
Its like sitting down to a poker table that you know is rigged against you and still believing that you will, somehow, outsmart the riggers. If you’re not in on the rigged game, then guess what you are? YOU”RE THE MARK!
Ick on that build back better Biden round. Good call, lol
Graphite & Lithium. I know the focus right now is on the head spinning silver situation, but at this point I think I’ve taken my PM positions and I’ll exercise what we in the beverage industry call “wine patience” waiting for my processed vine picks to mature to perfection or turn to vinegar. While researching some juniors however, it brought me back to a play I made years ago and have been holding, waiting for news or a breakout, with a small cap graphite miner. With massive new energy policies and the auto industry going electric, the talk of silver being necessary for new tech and solar projects, TSLA on everyone’s lips, it seems batteries are going to take a decent share of the focus. US production of battery grade graphite only holds 1% of the market and (hopefully) with our break from dependence on resources from China and other nations, there will be an effort to upscale projects stateside. I’m not quite the sleuth that others on PP are when it comes to researching and comprehending these things, but maybe someone else here has had an eye on it?
Its not over at all. I’ve been watching the volume in SIH21 – it is extremely light. It appears as though most people are holding. The extraordinary efforts of the banksters do not seem to have dislodged many current owners of SIH21.
This is as crazy as I’ve ever seen it going into first notice day. They are really sparing no expense. It will be fascinating to see the changes in open interest, as well as the deliveries that happen today. We’ll know more tomorrow.
What we saw last summer is what happened when real physical demand ended up emptying the vaults of the banksters. We have to wait for it to play out. It won’t just take a single day. Much as we’d like it to.
Plus – I look at it this way. I just got a bunch of PHYS on sale, thanks to the banksters. Like you, I did not think I’d get to see gold @ 1730 again. And presto, thanks to them, here it is.
PHYS is actual gold. Unlike GLD, or GC. I’m happy enough with it. It covers enough cases to make me reasonably happy.
But I am adding to small cap miner leverage in this smash. We are still in an undeniable phase change regarding physical Gold and Silver both. Comex deliveries up markedly for both. The “Silver Apes” of Reddit’s WallStreetSilver army show no signs of backing down on draining physical Silver all around the world. More and more people are seeing the disconnect and sensing in the paper price action the desperation of the bankers… it’s all good.
Oh, and Rhodium is up another $1500… so there’s that. Apparently the bankers can’t print Rhodium.
Where did you purchase the gold from? I might pick up a little bit.
I just bought PHYS. That’s a gold ETF, with real bars behind it – and someone I actually trust not to lie – I have serious doubts about GLD, by comparison. With PHYS, you can actually take delivery, but you need to have a lot of shares to do it.
PHYS isn’t as good as actual bars, but – very small premiums right now. And we’re down 18% off the highs.
Thank you, Dave. I’ve got a lot to learn. I just bought some.
Brief History: In 2011, I discovered Chrismartenson.com. I decided a little later to pull out of the market completely. I paid off all of my debt, made my home resilient, and purchased physical gold and silver. I have pretty much avoided the market for a long time. Well, I’m done sitting on the sidelines. I’m getting back in and will be reading your posts regularly.
With the WallStreetSilver crowd, who, BTW, are now collecting a GoFundMe for the purpose of putting up, “SilverSqueeze” billboards, more and more folks, especially younger ones, are learning to understand why this is a joke (hint, it’s the volume of newly printed paper contracts);
Wanting to get in on the silver squeeeeze and dogpile on the Banksters, I have finally opened an online brokerage account. Waiting for my initial investment monies to clear from my bank. Will jump into PSLV and First Majestic as soon as that happens. In the meantime, TPTB monkeyhammering the PM space is only going to let me buy in at a lower price point. Thanks, Banksters!
Thanks to DaveF for these informative threads, and tip o’the hat to my homeboy Jim, who finally got me off the dime to jump in on the fun!
May Fortune smile upon us all!
VIVA — Sager