The recent smash on gold and silver were probably attributed to liquidity selling to pay off debt, because there was not enough collateral left on the balance sheets. So companies were forced to sell out gold and silver.
But investors know that gold and silver are a very good buy around this level as dealers cannot source their gold and silver anymore. We are seeing delays in shipment and higher premiums, especially on junk silver. Premiums went to a high of 70% on silver coins and junk silver. People like Pierre Lassonde are accumulating cheap gold mining stocks like Alamos Gold.
But investors know that gold and silver are a very good buy around this level as dealers cannot source their gold and silver anymore. We are seeing delays in shipment and higher premiums, especially on junk silver. Premiums went to a high of 70% on silver coins and junk silver. People like Pierre Lassonde are accumulating cheap gold mining stocks like Alamos Gold.
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