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“Everyone Is Afraid Ahead Of The Open” – Reddit-Raiders Spark Nationwide Physical Silver Shortage

"Everyone Is Afraid Ahead Of The Open" - Reddit-Raiders Spark Nationwide Physical Silver Shortage
Image by Mauro Cateb

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For some background on just how unprecedented this weekend’s action in silver markets is, Tyler Wall, the CEO of SD Bullion writes the following (emphasis ours): 

In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open.

In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend).

However, everyone we talk to is afraid of a gap up at Sunday night market open.

This is about ready to get really interesting as there was very little inventory left from suppliers/mints going into Friday close.

Our direct AP supplier informed us after close on Friday that the “US Mint will be on allocation for the remainder of Type 1” (Current Silver Eagle Design).

Our sales for the month of January exceeded any one month last year during the heart of the pandemic. It was an all-time record month in our company history. 

And, perhaps most importantly, as QTR tweets so succinctly, “this is a red pill moment for many, and it’s beautiful...”

To read more visit Zero Hedge.

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1 comment

Jane February 1, 2021 at 4:16 am

I have 2-3 oz. of physical gold but am not sure how to sell it when price tops out (hopefully to $1000-$5000). It’s a chunk my hubby scraped off gunk from printing job he had for 15 yrs, and fairly pure. But we live in the boonies. Pawn shop is 1 hr away…would that be my best bet?

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