The gold and silver price may have hit a new low as predicted due to lower premiums and bad COT reports (managed money shorts were very low). But today I have better news.
According to the COT report the managed money shorts have all come back again and will support a higher price. So it is a good time to buy precious metals right now.
According to the COT report the managed money shorts have all come back again and will support a higher price. So it is a good time to buy precious metals right now.
SGE withdrawals are robust, so there is Chinese demand although not too much. U.S. Mint sales are robust but not as high as in Q3. Premiums at APMEX are given below.
Premiums are back at their historic average, but still elevated.
Premiums in China are very high for silver, but not so high for gold.
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