“Is A Smash In The Precious Metals Imminent?” Yes – A Failure Of Epic Proportions

“Is A Smash In The Precious Metals Imminent?” Yes – A Failure Of Epic Proportions

Yesterday when we reported on the latest jump in physical precious metals acquisitions cost we ask American Silver Eagles Approaching $40 / Gold Eagles Flying Around $2,150 – Is A Smash Imminent? Well, overnight there was close to a 15% hit on silver and a $60 drop in gold, close to 30%. The good news is this all played out in a rigged, manipulated casino called the COMEX. The other part of the good news is, both gold and silver have already retraced more 30% of the criminal activity.

You can see the time in the center bottom of the charts

 

The bad news is there is probably another hit coming soon. This will be followed by even more aggressive acquisitions on the physical side.

Late on Monday 7/27/20 we were seeing short delays in the American Silver Eagles – approximately two weeks. We expect this to grow and if this plays out the way it’s looking the delays could grow from two weeks to two months very quickly.

We haven’t seen any delays in American Gold Eagles, yet, but we expect to see them coming in the very near future.

What we reviewed yesterday also was the availability and cost of the most popular silver product known – 10 ounce bars. Not only are these, currently, in abundance they are still under $30 per ounce for silver. We even saw some Engelhard bars on eBay under $30!! They probably won’t finish at that number! We did find, at the time of this writing, a 100 ounce Engelhard hand-poured bar for $2,984!! This bar has all the character someone would be looking for in a vintage, hand-poured bar – very, very cool – if you’re looking for something that has potential to grow in value outside of silver content this should be considered.

Be on the lookout for lots more banking interference as both metals continue their ascent to higher ground. Take full advantage of any dips, especially if they are significant. If you look at what happened earlier there were plenty of people on the sideline waiting for this hit and as soon as their number came up they “rushed the fence” and other people joined in. This will be the new normal. Dips may be steep but they will be very short lived.

Gold and silver are going to continue climbing higher. Silver just suffered close to a 15% hit to the downside and it didn’t blink. Even if there were to be another 10% hit at this point – even a 15% hit – it wouldn’t matter. People would rush the fence and it would bounce right back.

Got physical gold and physical silver close at hand? We hope so, you’re going to need it.

Sharing is caring!

The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.