Tom Cloud discusses the implications of the new Basel III ruling on gold and what is taking place in the silver market. Tom says that premiums on silver bullion products have fallen for the first time in several months. This is also due to precious metals demand being the lowest this time of year during the summer. However, if we see lower silver prices, that would likely stimulate more physical buying, thus pushing up premiums once again.
Tom also mentions that they provide the cheapest precious metals storage in the industry towards the end of the update. I know, because I also store some of our metal at the IDS Texas Depository for 30 basis points a year for FULLY ALLOCATED storage. Now, I urge anyone to compare that rate to the other well-known precious metals dealers. Most are charging double that, as they are tacking on top of their own fee. Whereas Tom Cloud DOES NOT take any additional fee to store his client’s metal.
Below the video update, I provide some of the current premiums that Cloud Hard Assets is charging for its bullion products.
CLOUD HARD ASSETS BULLION PREMIUMS over spot:
Silver Premiums:
- 2021 Type 2 New Silver Eagle = $11
- 2021 Silver Maple Leaf = $5.60
- 2021 Silver Krugerrand = $4.85
- 2021 Silver Britannia =$4.85
- 2021 Silver Philharmonic = $4.35
- Junk Silver 90% = $3.60
- Silver 100 oz Comex Bars = $3.30
Gold Premiums:
- 2021 1 oz Gold Eagle = 8.5%
- 2021 1 oz Gold Buffalo = 8.5%
- 2021 1 oz Gold Krugerrand = 6.0%
- 2021 1 0z Gold Philharmonic = 5.75%
- 2021 1 oz Gold Maple = 5.5%
- 10 oz Gold Comex Bar = 3.75%
I really like Tom and Dan at Cloud Hard Assets. They are very easy and laid back to talk to and will answer any questions. Also, Tom Cloud puts all his client’s funds in an escrow account until the metal is shipped. This is an extra security protection not offered by many other precious metals dealers.
If you want to contact Cloud Hard Assets, you can click here: CLOUD HARD ASSETS.
DISCLAIMER: SRSrocco Report provides intelligent, well-researched information to those with interest in the economy and investing. Neither SRSrocco Report nor any of its owners, officers, directors, employees, subsidiaries, affiliates, licensors, service and content providers, producers or agents provide financial advisement services. Neither do we work miracles. We provide our content and opinions to readers only so that they may make informed investment decisions. Under no circumstances should you interpret opinions which SRSrocco Report or Steve St. Angelo offers on this or any other website as financial advice.
Check back for new articles and updates at the SRSrocco Report. You can also follow us on Twitter and Youtube below:
I’m pretty sure that ‘things’ have radically changed; People just don’t know it yet.
Silver Premiums:
2021 Type 2 New Silver Eagle = $11
It will be interesting to see how much that goes down around 30 days after they are finally released for sale, and initial demand is met. That date is estimated to be on or around 7/22 by an online retailer.