During this week’s precious metals update, Tom Cloud discusses what it was really like during the Hunt Brothers silver buying spree and the 1980’s Silver Mania. Tom also answers several questions about the silver retail market and shares what precious metals products his big clients have been buying.
Tom also reveals that for the first time since 1980, he has sold more silver than gold this year. Lastly, he explains the reasons why he advises investors to only purchase precious metals bullion bars and coins rather than numismatic productions.
Lastly, if you haven’t checked out our new PRECIOUS METALS INVESTING section or our new LOWEST COST PRECIOUS METALS STORAGE page, I highly recommend you do.
Check back for new articles and updates at the SRSrocco Report. You can also follow us at Twitter and Youtube below:
Terrific! Tom Cloud is saying silver is headed very high yet he is selling the stuff. And he is doing
it for 4% over spot. I so glad you introduced me to another seller. He’s nothing but another Schiff, Morgan or Butler. You should make better judgments on who your audience should listen too.
Another huckster is one too many. His info is yesterdays news!
@Joe. In my part of the world you cannot buy fizzical silver from ANY official dealer without a premium of any less than about 15% (and that includes our gubbermint’s charge of 8% tax). 4% is nothing, and Tom comes across like a honest, good man. I’d be happy to buy my fizz from him if I could. If dealing with bullion is your business, then it seems totally legit to have a spread (he’s gotta live from something). Else you can always go and by SLV or Sprott’s fund if you don’t like it. Bullion is not not a short term trade, so why rant about 4%?
I think “Joe” is just painting with a wide brush here. Anyone selling metals has an ulterior motive???
Who else is going to spend their days going over the minutia of the silver market? Your brother-in-law?
SRS doesn’t sell silver, just his reports, he seems like an honest fellow, seen him come up from just a random blogger. If he thinks Tom is “alright”, it’s good enough for me.
As with ALL these guys, compare what they say and go with what sounds good to YOU.
CHX: Thank you for your insights. I did not know of your premiums, taxes etc. Here in
the USA it is separatingn the prognostication from the fundamental facts. These guys have
been saying silver is headed north for 40 years. Since 2010 and every year since they all
told their readers silver would be in the twenties, then thirties, then triple digits. But it was
all hot air. The supply demand fundamentals weren’t there to warrant their guesswork. But
they got customers to buy silver every year from $50 an ounce down to $14. Are these the
actions of honest analysts? Or are they the workings of men who make their living selling
silver for some firm relying on their celebrity to convince buyers via data after data conclusions that were all premature. They should have said in 2010 be patient. You can
buy silver much later before 2020.
I bought silver high and I bought silver low. I am an adult and accept responsibility for my actions. If silver does not work out as a long term investment for my time horizons then I can look in the mirror for the guy that made the mistake.
@P I fully second that.
@Joe There was a time I was frustrated that the “price” went down until I realized that “price” is a SCAM and a utter fraud (CONeX/LBMA leveraged at 100-500 paper PM to 1 fizzical unit. Now I count my wealth in ounces and not in fiat. The fiat system as we know it will fail “sometimes” and this is when you want to own as many ounces you possibly can so one “may” come out whole on the other side. HOW and WHEN this happens is anyone’s GUESS. This is where people were gullible to think that the self-proclaimed PM analysts know any more than you or I. Listen to all and follow none, just make your own decisions and act accordingly without blaming anyone but yourself. If you hold ounces one day you will be happy you did (whichever “price” you paid before). I think of the PMs as our private retirement fund, so I have a time-horizon of decades so the +/- 50 or so price movements don’t bother me anymore, on the contrary, I hope they manipulate prices down even further – the lower the better, for this will just hasten the demise of their fraudulent pricing system.
Good luck to you and to all and a special thanks to Steve whom I’ve followed for close to 5 years now since I read my first piece of work of his.
You are just a loser Joe. Dry up and blow away
Joe,
You are more than welcome to continue hating anyone who sells precious metals. I gather the bankers are the ones we should trust… AYE??
Anyhow, Tom Cloud has been in business for 40 years and is by far one of the most honest and trustworthy precious metals dealers I know. If someone wants to buy precious metals, it wouldn’t hurt calling him up and getting information. Best to compare prices from several sources.
steve
The Silver/Gold ratio is just starting to strengthen again in favor of Silver … that typically precedes a strong upward move in the precious metals complex …
https://goldtadise.com/?p=372997
BEEN BUYING METALS FROM TOM SINCE 1998… HE IS THE MOST HONEST GUY I HAVE MET IN THE BUSINESS….
ANYONE IS MORE THAN WELCOME TO COMPARE PRICES AS THAT IS BEING A GOOD STEWARD BUT MAKE SURE THEY CAN DELIVER THE METAL….
I WILL CONTINUE TO BUY FROM TOM…
WITH SO MUCH GOING ON IN THE WORLD, HONESTY AND PERFORMANCE GO ALONG WAY…..THERE WILL BE A DAY WHEN A LOT OF THESE PEOPLE WHO SELL THE METALS WILL NOT BE ABLE TO PERFORM…. TOM HAS ALWAYS PERFORMED AND AT GREAT PRICES…