SD Metal & Markets: On the heels of US Mint Silver Eagle and Gold Buffalo Coin sell outs, we speak with Ned Naylor-Leyland, a Gold & Silver Fund Manager…
On the heels of US Mint Silver Eagle and Gold Buffalo Coin sell outs, we speak with Ned Naylor-Leyland, a Gold & Silver Fund Manager.
We talk about the ongoing cognitive dissonance amongst most investors in the western world. Happy to hold bonds, cash, and stocks while mostly shunning precious metals.
Come hear how Ned believes the next nominal price highs for precious metals will come about in the future.
Gold spot is likely to close below the psychological $1,200 oz mark, while Silver looks to finish this week at the low $14 oz level.
In terms of industry news in the middle of this holiday shortened week the US Mint announced it was temporarily sold out of 2018 Silver Eagle Coins. Then today, a similar communication was made for 2018 Gold Buffalo coins now temporarily sold out.
What most likely occurred here was the US Mint being caught flat footed with increased bullion buying demand from last month to today as precious metal spot prices have fallen.
More than likely they do not have enough planchets and thus inventory on hand to meet resurgent demand.
You can find two recent articles on Silver Doctors with more details about these stories linked above.
The good news for active bullion buyers out there, is that there does remain many high quality products available at all time low premium price points.
One obvious example is the following buy 19 oz get 1 oz free deal on Austrian Silver Philharmonic Coins (basically only $1.15 oz over silver spot) running through the end of this month at SD Bullion.
As well generic .999 fine silver rounds are still priced at only 45¢ oz over spot while supplies last.
About the Interviewer
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.