4 to 6-week delays are now commonplace throughout our industry. It is understandable that people who pay upfront for their gold and silver want the goods in their hands as soon as possible. We want to thank those of you who have placed orders in the last week or so. We have always delivered on our commitments (unlike other dealers that have refunded their orders vs. honoring them). As you have heard from us and seen, supplies are tight and premiums are high. Shipping delays are increasing. That is just a fact of life now. You can chalk it up to prices that are so attractive, in spite of the rising premiums and delays, that business is the strongest we have ever seen it. The mints can’t produce new coins as fast as they are flying out the door.
We believe in offering our readers fair and competitive prices – coupled with the best education (our TWO daily newsletters) and knowledge (highly trained and experienced brokers) in the industry. We have explained WHO was responsible, WHY the prices fell, WHAT the consequences (unintended I assure you) are, and WHERE the shortages are occurring. It is all over the globe. It sounds like a crime scene. And yes, it was a crime!
If you look at the gold chart, below, you will note that the price is rapidly RISING in Asia. It falls in New York.
This is a “snapshot” of the war going on between the paper gold market in New York and the physical or real market that is forming in the East. Yes, the bullion banks and the Fed can pull down the price on the Comex, but the result is increased buying by the Chinese and the Russians. And the “savvy” Americans (like our readers) who get what is going on, are not panicking, they are buying. That is why there are delays. The dealers are not sitting on your money, they can’t get the Eagles and Maples from the primary distributors. Product is on back order, period! And the prices are too LOW to suck product out of the hands of the owners in the secondary market. That’s it – insufficient supply and massive demand and you get rising prices and delays.
However, there is some irony to all of this. The CARTEL thought they could scare you out of the market, and crush it. They didn’t count on the massive new demand to buy gold and silver that they created. I am thrilled that this happened. My portfolio has taken a hit, but it will come back and as long as we don’t sell at these prices, they don’t matter. But I have already placed two substantial orders to reap the benefits. Since last week, I have been telling you that silver is on back order and the premiums are rising too. You wait, you pay more – and you take what is available, not what you want. No one else has it either. And that pretty much precludes buying Silver Eagles, Maples and junk silver bags.
We will deliver every order that we take under the conditions of our disclaimer (see below*). Your orders are locked in, and if there is a delay, do not worry. We have been through this before and it works itself out. Our suppliers have not taken orders from us that they cannot honor. We do not take your money and sit on it. It goes to the wholesalers to purchase product. The wholesalers forward it to the mints. No one is sitting on the orders – but the mints themselves. They won’t take an order from the wholesalers without having the funds on hand. They let everyone down the line know how far behind they are falling and they will ship – but not immediately as before. This could go on for some time and the longer it does (maybe all the way back up to $1,650 and higher for gold and into the $30’s for silver). If there are new “events” that pop up that shine well on gold and silver, the delays will increase and the premiums will rise even further.
Now that prices are turning around and on the rise, business will INCREASE at a faster rate. Yes, business is booming and yes, there isn’t much to sell. The pinch hasn’t YET hit gold, but it will. See chart below:
This is a pace through the 19th, not total sales.
They just updated the website to say 261,500 ounces thus far this month. The record month is January 2013, at 275,500; which we should blast through tomorrow.
The emancipation of gold from paper is now in progress as physical demand increases unperturbed, and rather pleased by the lower price of the metal of kings. The central planning fools, in their effort to try and break the mystique of gold via a paper crash, have only ignited what once was sparks into flames for its physical accumulation….
Governments annoyed by the prejudicial Cyprus ‘bail-in’ proposals, knowing that gold does not exist behind paper, need only accelerate their physical purchases to further expose the weakness that the now non-functioning fractional gold paper system has exposed.
This why two of the professionals that did recognize $1900 as a price the Banksters were most uncomfortable with also see this month as the culmination of an attempt to destroy physical demand by crushing the paper price. I cannot speak for Mr. Fennen, but I know that is Polny’s view. We are witnessing history here, and before this is over the physical gold buyers will crush the central planners.”
-Jim Sinclair on KingWorldNews.com, April 22 2013
So far, this recent smashing of gold and silver hasn’t been too hard to take. In fact, it may turn out to be the best thing that could happen for us goldbugs. Gold was slowly sinking since last fall. But with the events of last week, gold plunged to a bottom in just two days. It had to bottom before it could turn around and start its move back toward $2,000. Let the game begin!
We are a special company and want to get the word out to as many people as possible. Here’s how you can help:
- Refer your friends, family and co-workers that are interested in protecting their wealth with precious metals.
- For any referral you direct to us that places their first order before April 30th, you will receive one FREE 1 oz Silver Austrian Philharmonic.**
**Offer Expires April 30th 2013 or while supplies last. The referral must give the name of the referrer at the time of the order. Free Silver Philharmonic shipping only to continental U.S. addresses.