SD Metals & Markets: Investors & stackers went on one heck of a roller coaster this week, so let’s put it into perspective with someone on the inside…
Hello and welcome to this week’s Metals & Markets wrap. I am your host James Anderson filling is for Elijah Johnson. This week’s guest is Josh Phair of Scottsdale Mint. We also have a short synopsis on the week for Gold Prices and Silver Prices.
Gold and silver prices saw a healthy rise from the start of the week especially during the Federal Reserve chairman, Jerome Powell’s press conference yesterday. Concerns over future price inflation and specifically the $1.9 trillion dollars still parked on bank balance sheets from the 2008 bailouts, possibly getting fractional reserve lent into the economy are were a possible impetus as to why gold prices spiked during the discussion.
Gold hit its week high price of $1,310 oz and silver briefly touched $17.30 an ounce on Thursday.
Both metals price momentums were short lived, as of this morning a reported 260,000 gold futures contracts were sold in a 4 hour timeframe representing some $33 billion dollars in notional value traded.
The US dollar index reached a 2018 high yesterday yet it wasn’t until many hours later that waterfall defines in precious metal prices occurred.
Chart Source – @HayekAndKeynes – The Long View on Twitter
Silver and gold futures trading volumes today will likely reach near the all time COMEX record levels witnessed the day President Trump was shockingly elected in November of 2016.
Finding a sensible reasons as to why this sell-off occurred today is unlikely (good luck). Most listeners including myself believe this yet another currency intervention and systematic buying of time.
Precious metal values remain relatively weak in relation to other overvalued asset classes.
Gold appears to be finishing the week at $1280 oz with silver at $16.60 an ounce.
Moving along to our guest for the week, Mr. Josh Phair.
He is founder of the popular Scottsdale Mint in Arizona.
Scottsdale Mint is a world leading manufacturer and distributor of physical precious metals bullion bars, rounds, and legal tender coins we both buy and sell here at SD Bullion.
Questions covered included:
– How and why did you get into this business of privately striking bullion products?
– How about the downward price action in gold and silver today?
– What are the different manufacturing processes between manufacturing bullion bars vs coins and rounds?
– What are some of the headaches in your business?
– How long do typical dies last depending on the products?
– What is your long term vision for precious metals, Scottsdale, and the bullion industry in general?
We want to thank Josh for coming on the show this week.
Click the link below to check out some of the Scottsdale Mint bullion products we currently carry here at SD Bullion.
About the Author
James Anderson has a BA in finance from Loyola University New Orleans. He has both worked and invested in the physical investment grade bullion markets prior to the 2008 global financial crisis.