Our trade partners at Brinks in Salt Lake City were hit by a 5.6 magnitude earthquake yesterday - signaling there may be a de-coupling from the spot price soon!
Precious metals are scarce at these levels, and premiums have surged 400% on some coins!
The ill-timed Earthquake strikes at a time when precious metals sales are increasing to the highest levels seen since 08' and delivery delays are extending!
Here's a quick update on availability;
- Most first-time shipments are 3-weeks out.
- Silver Bars are 6-weeks out.
- 70% of the dealers have no product to sell.
- US Mint Authorized Purchasers are out of 80% of their product!
Here's the letter we received yesterday from our IRA transfer dept..
We have been informed that Brinks Salt Lake City is suspending all internal transfers or out-shipments at this time due to an earthquake experienced this morning. You may have clients that have metals stored there, who will possibly be contacting you for information.
Presently, we do not have an estimated time when the depository will resume metals movement, but we will keep you informed.
At GSI Exchange we offer you the most comprehensive market analysis to profit from the current chaos in finance. The shortage of metals, borders being closed, and exchanges around the world shutting down mean one thing - HIGHER METAL PRICING!
Let me explain...
The only way that we can sell metal so cheaply right now is because we depend on the Paper Exchanges at COMEX - meaning, we make money when our inventory values go down - meaning, we can sell to you for less money.
If the Exchanges in the US shutdown, like other exchanges around the world are, then we will charge you whatever it costs to replace the inventory.
The end result prices de-coupling from the spot and skyrocketing premiums!
The NY Stock Exchange Floor shuts down on Monday, CME Group Inc last week shut its storied trading floor in Chicago, and Mideast bourses have taken similar measures. Although electronic trade remains available, WE DON'T KNOW FOR HOW MUCH LONGER!