Torgny Persson: The window to purchase precious metals with fiat currency is closing

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By Torgny Persson
Bullion Star, Singapore
Wednesday, March 18, 2020

More and more refineries, mints and fellow bullion dealers are suspending their operations indefinitely. At Bullion Star we are facing significant operational and stock inventory challenges. There's an acute shortage for, particularly, gold coins, silver bars, and silver coins.

For gold bars, some of the private refineries are still open and take orders but have long backlogs.

... Dispatch continues below ...



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What does this mean for price premiums?

Due to the paper spot and futures precious metals markets not reflecting the demand and supply for physical precious metals, premiums are high and are fluctuating a lot.

The precious metals price premium mechanism is there to balance physical demand and physical supply of precious metals.

Despite higher-than-normal premiums, demand for physical precious metals continues to be overwhelming. We receive several hundred orders each day. We've had two-hour waiting times in the shop even though we just expanded the shop to five counters and even though we have an extremely efficient system for serving customers. At BullionStar we currently have about eight customer buy orders for every customer sell order, which is the highest we have seen in years. ...

... For the remainder of the report:

https://www.bullionstar.com/blogs/bullionstar/bullionstar-update-the-win...

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