Physical Precious Metals Market UpdateThere seems to be an even larger disconnect between the US$ paper precious metals prices and the physical precious metals market.
The paper prices have been managed (controlled/manipulated) by central banks, bullion banks and hedge funds for quite a while now. The paper prices are still depressed. However, greater tightness have been showing up in the gold physical market over the last few months. But, nothing compared to the tightness in the silver physical wholesale market. It is now getting really tight in the physical silver market, and plenty of shortages at the wholesale level.
The silver physical market tightness took the lead during the 2008 crisis, prior to shortages exploding in the gold physical market. We seem to be experiencing early stages of a similar trend this time also. Where it goes from here will depend on what happens at the macro level.
Of note, we are just now going into the asian peak buying season (especially in India).
1)
Miles Franklin Precious Metals
I usually can`t handle listening to Andy Hoffman. I find his writings and audios to be very annoying and condescending, and extremely self serving also. However, in this audio he brought on the Miles Franklin owner to provide an update on the physical market. The owner provides a very balanced view of the current physical market - well worth listening to.
https://www.youtube.com/watch?v=edCaQA5qJMk
2)
SD Metals
They provide a update on the physical market. The audio is 45 minutes, but you can fast forward to the 27 minute mark to get the physical update (from 27 min to 30 min).
https://www.youtube.com/watch?v=xpEtgsq0dJM
3)
Steve St. Angelo
Provides update on the physical market, especially with regards to silver. It looks like physical silver production/supply is trending down by 6 - 10% in 2015, while at the same time, there is an increase in physical demand
https://srsroccoreport.com/global-silver-inventories-tipping-point-new-threat-to-the-fracking-industry/global-silver-inventories-tipping-point-new-threat-to-the-fracking-industry/