Category: Gold

Gold prices weaker; bruised marketplace wonders what’s next  Kitco NEWS

The only silver lining is the gold-silver ratio  Kitco NEWS

Gold, silver prices up on notions stock, financial mkts stabilizing  Kitco NEWS

The world economic and financial markets have entered into a crippling cannibalization of the system in which few are prepared. While the politicians, financial analysts, and media are providing optimistic forecasts for the future, they continue to underestimate the seriousness of the global contagion. Thus, after a week or two, these forecasts will be revised lower (once again) to reflect a more gloomy, negative and more realistic outlook.

So, in another a few weeks, the world as it pertains to this contagion will look a lot worse than it does today. I’d imagine the Dow Jones Index will likely shed another 5-8,000+ points during this period. Also, the global supply chain disruptions will kick into high gear as month-long lockdowns in various countries finally impact manufacturers and retailers across the world.

I haven’t put out too many new updates and articles over the past few weeks. Rather, I decided to take a step back to research and watch as this global contagion continued to unfold. However, I will be putting out more updates, videos, and articles over the next month as I believe most people are still unprepared for what’s coming.

Although, I have been a bit busy on Twitter recently. You can follow my TWEETS and REPLIES on Twitter here: SRSRocco Report Twitter Feed. When I posted this Tweet on March 15th, the price of oil was $31. I stated that the price would likely fall to $29 the next day… and it did. The relevant sentence in the tweet below is… WE DON’T COME BACK FROM THIS ONE.

Today, in early Asian trading, the oil price is trading in the $27 range. If $31 oil was destroying Shale Oil Companies left and right, $27 is undoubtedly wreaking havoc inside and out. Unfortunately, the worst is still yet to come. I now believe we could see oil reach the low $10s. And, to make matters even worse, the wholesale gasoline price is currently trading at 72 cents a gallon… LOL. If you add state and federal taxes, along with a bit of profit by the gas station, the price at the pump would be approximately $1.40-$1.50 a gallon. It will likely take a few weeks for the lower price to finally make it to the pump.

What happens when the oil price reaches the low $10s?? Gasoline will be selling for 99 cents a gallon or less. Can you imagine? This is partly the reason we are seeing a low PAPER SILVER price. I will get into the details of why this is the case in a video shortly. However, physical silver prices for bullion are $4-$8 higher than the spot price, and the spread may continue to increase going forward.

Physical Silver Buying Surges As Fear, Panic and Common Sense Hit Investors

Investors are buying record amounts of physical silver for very different reasons. If you are a “Seasoned” precious metals investor, you may be adding more silver to your holdings because common sense says it’s a good idea. On the other hand, new investors to the precious metals are likely buying due to Fear and Panic. Many of these investors have thought about buying gold and silver for years, and now that the market is disintegrating right before our eyes… they have finally decided to PULL THE TRIGGER.

Unfortunately, these new investors have started to acquire precious metals at the worst possible time… when an avalanche of people has come into the market. This is like the infamous video now circulating on Twitter showing the extensive long lines at Costco. Click on the video posted by Craig at TFMetals Report if you haven’t seen it yet. This is what panic looks like when people decided to prepare at the last minute.

Hard to believe that this is real and not a stunt….but it’s real. From last Friday in Orange County, CA pic.twitter.com/I56VlmGGDD

— TF Metals Report (@TFMetals) March 17, 2020

I see this happening with physical gold and silver buying in the next few weeks-months. As the situation continues to collapse in the Financial and Economic markets, more Americans are going to get PRECIOUS METALS RELIGION. Regrettably, for the new investors, supply will get even tighter as prices rise.

I have heard from precious metals dealers that the past two days have been the busiest in 30-40 years. The result has pushed U.S. Mint Silver Eagle Sales to a new monthly high not seen in years, excluding sales for January (typically higher each year due to restocking of the latest issue). According to the U.S. Mint’s recent update today, sales of Silver Eagles as of March 17th reached 3,112,500:

Now compare that to my last update on March 11th:

In the past week, the U.S. Mint sold another 792,500 Silver Eagles. What’s interesting is that several precious metals dealers stated that the U.S. Mint had suspended sales last week. Well, it looks like they continued to sell more these past few days. It will be interesting to see if the U.S. Mint can ramp up production to 4-5 million a month as they were doing back in 2015-2016. But what happens if there are more lockdowns? There are a lot of unknowns moving forward.

Regardless, the U.S. Mint sold more Silver Eagles in March, that we have to go back to 2016 to find monthly sales 3-4 million.

So, here’s what’s really fascinating about the retail SILVER BULLION MARKET. The Buy-Sell spread on Silver Eagles in four various large online dealers averages about $9.00 a coin!!! This means, if you want to sell your Silver Eagles to one of these Dealers, you are going to get $9 less than what they are selling them currently.

Here are the BUY & SELL prices from four large online dealers as of 3 pm MST on March 17th:

The BUY price is shown in the SILVER COINS, while the RED COINS displays the SELL price. So, if you wanted to purchase a Silver Eagle from this first dealer in the chart, you would pay $22.98. But, if you wanted to sell, they would buy it from you for $8.85 less at $14.13. The last dealer with the $19.70 price (*) did not have any in stock and likely didn’t update its prices to the $22-$23 range. These prices are based on buying the largest number of Silver Eagles. If you wanted to only buy 1-19 Silver Eagles from the first dealer in the chart, you would pay $24.88

Of course, you weren’t going to get your Silver Eagles shipped right away because these dealers sold out most of their stock and are currently selling based on new stocks to arrive later… in most cases, Mid-April.

So, here’s the important question? While the paper silver price is low, why haven’t precious metals dealers raised their SELL TO price to get more inventory?? Good question. Why on earth would anyone sell their Silver Eagles for $14 when the dealers are selling at $23?? However, we can’t blame the dealers because they get their bullion and price quotes based on the few large wholesalers-suppliers.

Crazy, isn’t it?? The market is totally distorted. Also, you also can’t blame the wholesalers for this huge BUY-SELL spread because their silver bullion stock was built upon prices of silver in the $17-$18 range. Why would they sell Silver Eagles at $14??

What we are seeing in the physical precious metals market is the same disruptions taking place in the Financial Markets. The Bid and Ask spreads for the most liquid financial asset in the world, U.S. Treasuries, have been upwards of 200 basis points (2%) for the 30-year treasury. The same thing is taking place in the Stock Market, especially in ETFs. Due to the collapse in prices, no one is willing to buy close to the ASK price because the stock market could collapse even further. So, if an ETF is trading at say $25.00, the Bid-Ask Spread might be 5-10 cents in a normal market. But now, spreads are $1-3 at times… LOL.

And again… THE WORST IS STILL YET TO COME.

For all of the silver investors who are worried about the low paper price… DON’T BE. I didn’t expect to see such a dramatic sell-off in silver, but now that it has arrived, investors really can’t buy physical silver at $12.50-$13. Even Silver Rounds are selling at $15-$16 apiece… BUT you still can’t get them for WEEKS or a MONTH.

As I stated at the beginning of the article, I will be doing more extensive VIDEO UPDATES on the Precious metals and the global contagion. For example, if the oil price has fallen 50% in just the past month, then the COST OF PRODUCTION for the primary silver miners has also dropped considerably. According to my analysis, the primary silver miners’ average cost of production was about $14.50-$15 in Q4 2019. Thus, if we are basing silver as a “Commodity” ONLY, then it isn’t surprising that the price fell lower due to the decline in Industrial demand and energy prices.

Furthermore, silver tends to get Whacked more than gold on the way down. But, what’s a bit strange is to see that copper is only down 19% versus 33% for silver from their peaks in 2020:

As we can see, while the silver price is down 33%, copper lower by 19%, and gold is only off by 9% from their peaks in 2020. When gold and silver corrected from their highs in 2008, silver fell 60% while gold fell 30%. Here, silver is down a lot more in percentage terms than gold and even the king industrial metal, copper.

Even though copper is down 19%, I see it dropping like a rock to $$1.50 or lower. Currently, copper is trading at $2.33 a pound. Why isn’t copper lower…LOL?? Gosh, with the world shutting down its global engine, who the hell needs much copper?? Moreover, with many dealers selling Copper Rounds at 99 cents and higher, FOR a 1 OUNCE COIN, who in their right mind would purchase them when you can buy a pound of copper for $2.50???

Here’s the DEAL… we are headed for SERIOUS TROUBLE ahead. I would not get too focused or worked up about the paper silver prices. We are just in the beginning phase of this global contagion. If you think Toilet paper is a hot commodity now, wait until more Americans wake up about Gold and Silver.

In Conclusion… we have entered into a collapse function of our Highly Leveraged Debt-Based Fiat Monetary System that was going to happen sooner or later. This global contagion just moved up the time-clock and speed.

WE WILL NOT COME BACK FROM THIS ONE. Rather, we will enter into a new world that will be very chaotic and tumultuous. While the precious metals won’t solve all our problems, at least they will protect wealth during this time when many financial assets get wiped out.

It’s ironic that the Covid-19 outbreak came to the fore at the same time that precious metals – gold and silver – were building out lengthy technical bottoms formed in 2016 and 2019, implying much higher prices to come.

For gold, a new all-time nominal high attempt at $2,000 could take place this year. For silver, spear thrusts at $26-$30 are within the realm of possibility.

Given current market action trading down to $12, this may seem hard to believe. But silver can surprise on the upside just as easily.

Gold and silver – for those who have prepared by “stacking” it – and in the relatively short time remaining for those making that choice now, are poised once again to effectively carry out their historic insurance roles.

What’s fascinating to me – after more than two decades of personal experience – is the parallel role silver plays as a vital health tool.

I cannot give medical advice per se, but you can certainly “look over my shoulder.”

Consider the evidence here, do some additional research, and maybe take a “test drive.” I use exactly this same process myself!

For several decades, I’ve used a brand of colloidal silver spray for health maintenance. This came in handy three times during the many mining tours I’ve taken to research and write reports for The Morgan Report – once each in Mexico, Argentina, and in Guandong, China. A spray into each eye (contacts in), quickly turned a dangerous if-untreated eye infection into, as my South American friends would say, “no hay problema.”

Just before visiting a high-altitude silver mine in Bolivia, a dropper-full of colloidal silver took a severe ear infection down for the count in a few minutes. Years of struggle with sinusitis, frequent colds and flu have become non-events. At the first sign of a problem – I spray nostrils, throat and eyes.

What about “blue skin”? This fear goes back many years to when people tried to make their own ionic silver without controls on sanitation, or the ability to measure the silver content.

“Colloidal silver generator” devices are still for sale on the Internet, but it’s a good idea to avoid this temptation. “Blue skin” is not a risk from taking modern structured silver (or silver hydrosol).

Even so, I’ve underappreciated the virtues of structured silver water. But now, the impressive “math” and methodology can play a role in the creation of a personalized “anti-Covid-19 plan.”

You can see several videos of David Morgan interviewing the product’s inventor here and here. I receive exactly zero compensation from anyone trying it and pay full retail for my own supply. If someone reading this is helped, such “payment” is more than enough.

In their book, “The Most Precious Metal” Dr. Gordon Pederson and Dr. Bryan Frank say:

But don’t take my word for it. Like the closing tag on some of my reports says: “Do the research. Do the math. The decision must be yours!”

Silver (and gold) for your Wealth. Jim Rickards, one of the most widely read and interviewed analysts (several times by Money Metals), has this to say:

Why did I just spend so much time talking about gold, when our primary topic is silver?

Because gold’s strong rise will occur first. This is demonstrated by the silver-gold ratio continuing to hold above 90, meaning it still takes 90 ounces of silver to buy one ounce of gold. At this writing it’s even risen to an all-time high – so far – spiking to over 120:1! But when silver begins to close that gap, the move will catch most everyone by surprise. The run will be disbelieved as it explosively surges upward.

Silver sales are turning on the proverbial dime!

Don’t be a fish out of water. Don’t take too long to decide, because things are changing as we speak.

At a small stream near where I live, salmon congregate near the mouth during low water, waiting for fall rains to raise the level so they can move upstream and spawn, completing their life cycle. It’s interesting just how short is the window of opportunity for them to “get it right” is very short.

Often, it’s only a couple of days before the rising water level drops back. The fish who time it right get to create the next generation.

The stragglers who are even slightly late can be left – quite literally – high and dry on a sandbar.

If your timing is a bit off in getting the physical gold and silver necessaryto carry you forward financially, odds are you’re going to find yourself “beached,” as supplies dwindle, premiums rise, and life, along with the great profit potential that goes along with it, passes you by.

Source: James Kwantes, Resource Opportunities, for Streetwise Reports   03/18/2020

James Kwantes of Resource Opportunities discusses the investment thesis behind this Discovery Group company operating in “the prolific Abitibi Greenstone Belt.”

For veteran speculators, the latest hits to junior mining share prices feels like déjà vu all over again. Sentiment is gloomy and market capitalizations are depressed.

But gold, in U.S. dollar terms, is still up more than 25% year-over-year. And US$1,500 gold translates to more than CA$2,150, an exceptional price for Canadian projects whose expenses are measured mostly in loonies.

Gold producers that deplete their reserves with every shift and every scoop still rely on junior exploration companies to find the deposits that will replenish their ore. Most juniors, meanwhile, had yet to respond even before the coronavirus corrections—which has further pummeled the sector. Expectations are very low, along with share prices.

For exploration companies with strong management and backing, a flush treasury and potential for high-grade discoveries, it’s not a bad setup. Genesis Metals Corp. (GIS:TSX.V; GGISF:OTC) fits the bill. The Discovery Group company has $3.5 million in the treasury to drill its flagship Chevrier project in Quebec’s Chibougamau mining district. Chevrier is located in the eastern portion of the prolific Abitibi Greenstone Belt (180 million ounces [180Moz] of historical gold production).

Genesis is drilling an initial 2,500 meters (10 holes) at Chevrier, part of a planned 8,000-meter drill program this year. The initial program is designed to tap into high-grade shoots within the Chevrier Main zone deposit, expanding the higher-grade domain. Genesis’s market cap of about $7.9 million is backstopped by existing gold resources at Chevrier totaling 395,000 ounces Indicated grading 1.45 g/t Au and 297,000 ounces Inferred at an average grade of 1.33 g/t, at the Chevrier Main and East Zones.

The company has already identified high-grade areas within the deposit—assays announced on Jan. 22, 2018 included 8.73 g/t over 21.35 meters and 4.26 g/t over 19.4 meters at the Main Zone. But those results went unappreciated, with gold trading at US$1,330/ounce on its way down to $1,200. Later this year, Genesis plans to test targets elsewhere on the 295-square-kilometer property that were identified through last year’s property-wide glacial till survey.

Overseeing the exploration program is new CEO David Terry, an economic geologist who was appointed president and CEO on Dec. 2, 2019 (Jeff Sundar remains as executive director). Terry obtained a PhD in Geology from Western University in Ontario. He’s also well schooled in the vagaries of bull and bear market mining cycles, through decades in the industry running projects—both large and small—for majors and helming explorecos. Terry is currently a director of several active exploration companies, including Golden Arrow Resources Corp. (GRG:TSX.V; GARWF:OTCQB; G6A:FSE), Aftermath Silver Ltd. (AAG:TSX.V) and Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX). Great Bear, also a Discovery Group company, is drilling high-grade gold along kilometers of strike at its Dixie project in Red Lake, Ontario.

Economic geologist David Terry, the Genesis CEO, on site at a project in San Juan, Argentina.

For Terry, the Great Bear directorship is a kind of return to Red Lake. His first summer job in exploration included mapping and sampling in the prolific district for a large mining company called Goldfields while he attended Western in the 1980s. He later worked for several years as a contract geologist with Cominco (which sponsored his PhD thesis) in Alaska, followed by a stint with Hemlo Gold exploring back in the Abitibi.

After obtaining his PhD, Terry worked for Westmin Resources, then Boliden, as a geologist and project manager. When Boliden exited Canada with the mining sector in a post Bre-X slump, Terry took a position as a regional geologist for the British Columbia (BC) Geological Survey in southeastern BC for three years. He spoke at the closing ceremony for Teck Resources Ltd.’s (TCK:TSX; TCK:NYSE) legendary Sullivan mine, which operated for nearly a century and produced 160 million tonnes grading 12% zinc/lead and 67 g/t silver. Since 2004 he has worked in management, director and advisory roles with a number of juniors exploring and advancing precious and base metal projects in both North American and a number of Latin American countries.

Terry joined the Great Bear board in July 2016, before the Dixie project was the company’s flagship. Great Bear’s mineralized LP fault is now recognized as one of the best gold discoveries of recent years, globally. But Terry remembers when the team operated in relative obscurity, with GBR shares trading for dimes not dollars.

As for Genesis, adopting a go-slow approach in 2019 laid the groundwork for an active 2020. Instead of drilling in the depths of a bear market, former president and CEO Jeff Sundar focused on building out the team and raising a war chest. Genesis joined the Discovery Group of companies and added Discovery principals John Robins and Jim Paterson as strategic advisors. The Discovery Group has an impressive record of wins in recent years, including the $520-million sale of Kaminak Gold to Goldcorp and the $117-million sale of Northern Empire Resources to Coeur Mining Inc. (CDE:NYSE). Rob Carpenter, the cofounder and former CEO of Kaminak, also came on as a strategic advisor.

Genesis’s successful financings were done in conjunction with a 5-for-1 share consolidation and the appointment of Terry as CEO. Rollbacks have a bad reputation—and rightly so—but consolidations done in conjunction with management changes and large financings can set the stage for success. Great Bear is another example of a successful rollback, its tight share structure helping to propel the stock post-discovery.

Chevrier is located in a prolific district of high-grade gold resources. Directly to the southwest is the Monster Lake gold discovery, where joint venture partners IAMGOLD Corp. (IMG:TSX; IAG:NYSE) and TomaGold Corp. (LOT:TSX.V) have identified an Inferred resource of 433,000 ounces at 12.14 g/t gold. At the Nelligan project further southwest, Vanstar has delineated 3.1 million ounces of gold (Inferred) at about 1 g/t, but last year hit 6 meters grading 56.46 g/t Au. IAMGOLD recently increased its interest in the project to 75%.

South of Chevrier, the Joe Mann gold mine produced 1.2 million ounces of gold at 8.26 g/t, as well as silver and copper. Infrastructure is excellent at Chevrier: a highway and power line runs through the property and the regional airport is a few minutes drive to the north.

With Discovery Group backing, a strong management and technical team, and a full treasury to drill high-grade gold targets at Chevrier, Genesis has laid the foundation for success. And high-grade gold discoveries get rewarded by the market, even in these tumultuous times for juniors.

Genesis Metals (GIS:TSX.V)
Price: 0.18
Shares outstanding: 43.76 million (59 million fully diluted)
Market cap: $7.9 million

James Kwantes is the editor of Resource Opportunities, a subscriber supported junior mining investment publication. Kwantes has two decades of journalism experience and was the mining reporter at Vancouver Sun, the city’s paper of record.

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James Kwantes Disclosure: James Kwantes owns Genesis Metals shares and Genesis is one of three Resource Opportunities sponsor companies. Genesis is a speculative, high-risk exploration stock that may not be suitable for all investors. This article is not intended as financial advice and all investors should conduct their own due diligence and/or consult an investment advisor.

Streetwise Disclosure:
1) James Kwantes’ disclosures are listed above.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Great Bear Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Aftermath Silver. Please click here for more information. Within the last six months, an affiliate of Streetwise Reports has disseminated information about the private placement of the following companies mentioned in this article: Aftermath.. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Golden Arrow Resources, Aftermath Silver, Coeur Mining and Newmont Goldcorp, companies mentioned in this article.

Resource Opportunities Disclaimer: Readers are advised that this article is solely for information purposes. Readers are encouraged to conduct their own research and due diligence, and/or obtain professional advice. The information is based on sources which the publisher believes to be reliable, but is not guaranteed to be accurate, and does not purport to be a complete statement or summary of the available data.

( Companies Mentioned: GIS:TSX.V; GGISF:OTC,
GBR:TSX.V; GTBDF:OTCQX,
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Source: Bob Moriarty for Streetwise Reports   03/18/2020

Bob Moriarty of 321gold discusses the current situation with physical metals and paper markets.

Every time the price of gold and silver go down in a big way, the manipulation/conspiracy crowd come creeping out of their rat holes to start preaching about naked short selling and a disconnect between physical metals and paper markets. As you will see, both issues tend to reveal how little these guys understand about how markets and people work in the real world. And an utter display of their basic ability to think for themselves.

A little Econ 101 first.

Commodity markets go down because of an excess of motivated sellers. Anyone who actually knows how commodity markets work understands that for every contract there is one buyer and one seller. That’s why it is impossible for there to be anyone doing “naked short selling.” You can sell first or you can buy first but you will do both eventually. If somehow someone managed to dump trillions of dollars worth of commodity contracts “naked” on the market, at some point they would have to buy those contracts back.

A lot of people like to believe that commodity prices go down because there are more sellers than buyers but since every contract requires an equal and opposite party on the other side, if ten contracts are sold, someone has to buy ten contracts. There is never any other alternative. One buyer, one seller. Both margined or having the ability to fulfill the contract either as a supplier or a consumer.

So if the prices of gold and silver have plummeted, and they have, why are people reporting shortages of the physical metals? And let me remind my readers, there were people predicting this crash with great accuracy.

I’ll give you a hint: none of the manipulation/conspiracy crowd got it right. They never do call anything correctly but are always forgiven because they tell people what they want to hear, just like TV preachers and successful politicians.

To understand why there is an apparent shortage of physical metals, you have to try thinking for yourself.

Pretend you want to go into the business of buying and selling silver bars. You have rented a shop, hired an assistant, set up an accounting program. On the 6^th of March a customer walked in, your first. He wanted to sell this nice shiny 100-ounce silver bar. You looked at either Kitco or the futures market to see what you should pay, there being zero difference between the physical and paper market at the time.

For the 6^th of March the spot silver price varied between a low of $17.08 and a high of $17.55. Since as a businessman you have to make money you pay him $1700 for the bar. He’s thrilled; you’re thrilled with your first purchase.

Time passes and since you are new to the game you don’t do any business. After all it takes time to build a customer base. But the bell rings and another potential customer walks in. Lucky for you, he wants to buy a 100-ounce silver bar, shiny if possible, and you just happen to have one in stock.

The two of you go to Kitco or look at the spot price of silver on the futures market and it shows $12.27. What do you do? Do you sell it for $12.27 and a small premium or do you tell him you are out of stock? At this point, the price of physical and paper is the same.

Or alternatively do you point out that the “experts” are saying customers are willing to pay a 50% premium. So you tell him that the price is $1800 for the bar. If you quote him $1800, just how likely do you think it is that he will bite?

If you charge him $12.27 an ounce, you go out of business. If he is willing to pay a 50% premium, give him my contact details because I have all the silver in the world at a 50% premium.

The price of silver went down because the sellers were more interested in dumping than buyers were in scarping it up. There is no shortage of silver and there is no disconnect between the price of physical and paper. If you really believe dealers are short of silver, take in a 100-ounce bar and see just how much the physical price varies from the paper price.

I can tell you. It’s zero. If you own gold or silver you paid for it with paper and if you sell gold or silver you are going to be paid based on the paper price.

Supply and demand really does work. If the price of silver bars stays low, all the people who rushed to buy at the top will be just thrilled to sell at the bottom. They always do.

Bob Moriarty
President: 321gold
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Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.

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Disclosure:
1) Statements and opinions expressed are the opinions of Bob Moriarty and not of Streetwise Reports or its officers. Bob Moriarty is wholly responsible for the validity of the statements. Streetwise Reports was not involved in the content preparation. Bob Moriarty was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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