Activity In Gold Market Heats Up From The West To The East
The current bear market in gold and silver miners is the worst Sprott Chairman Rick Rule has seen since the 1980s, and he believes the recovery with be “dramatic” changing with it the sentiment of the gold market.
Sentiment all around the precious metals industry is very low. Can it go lower? That is the question on people’s minds. But this is likely not to be the case, at least much not further, and people from all over the industry are agreeing with this sentiment. This has changed in recent weeks with gold now hitting a three week high and demand increasing for gold in La Jolla, California at my shop.
“A recovery is inevitable,” Rick Rule said.
“The mining sector cuts are not just skin deep, they are to the bone,” he said. Miners can’t afford to produce if metals prices go any lower, so if they drop from here, it means the world doesn’t want a supply of these metals, according to Robert.
Drama in the precious metals scene is on the rise, as well, with countries from all over the world demanding their gold from the US. Peter Boehringer founded PBVV Vermögensberatung in Munich in 2003 and sits on the board for the German Society for Precious Metals. In this video he explains what is going on with gold in Germany.
Prior to 2003, he worked for ten years in various positions at international companies, including Booz & Co Inc., Technology Holding GmbH, 3i plc and the European Telecom Holding AG. Peter Boehringer has a degree in business administration and computer scientience (European Business School).
Demand is strong in India as well for gold. The recent downturn in prices has increased buying not only in India, but also in China.
Volume is big in the precious metals markets as. The Silver Institute anticipates more buying demand for silver in the coming months. More silver demand is expected.
What is Tesla’s battery uses silver? The implications would be huge. Moreover, producers are not mining gold because there is very little reason to. This will have an impact on supply once people begin chasing the gold and silver price.
At United Coin & Precious Metals we have seen this time-and-time again, and we have also seen an increase for demand in the La Jolla area in recent months. If you want to learn more, feel free to call us at 858-412-6462 to discuss with one of our precious metals consultants today.
