In this conversation with Andy Schectman from Miles Franklin, we discuss why he believes the quoted price of gold and silver is sending the wrong signal, what he thinks is really happening underneath the paper market, and why the most important story in precious metals may be the steady movement of physical metal out of the system. Andy walks through his view of COMEX deliveries, margin hikes, ETF rebalancing, China’s buying, and why he sees price weakness as misdirection rather than a clean reflection of supply and demand.
We also get into deficit spending, the deteriorating debt picture in the United States, what that means for currencies and treasuries, and why Andy sees gold as wealth rather than a trade. On silver, we discuss the kind of pressure building in the delivery system, the shrinking cushion between open interest and registered metal, and what investors should be watching if they want to understand when a bigger move could finally hit.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.