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:
- 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
- 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.
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