In this precious metals update, Tom Cloud begins with discussing how “Fake news” is misrepresenting what is really taking place in the markets. He explains that how fake news is impacting precious metals sentiment and sales. Tom also talks about the new gold and silver cryptocurrencies in development. While Tom agrees with individuals investing in cryptocurrencies, he believes it should only be a small speculative percentage of one’s assets. I agree.
Furthermore, Tom discusses that his business this year experienced the largest average precious metals sales amount in his 42-year history. However, while Tom claims that his average sales figure is the highest ever, overall sales have been the lowest in over a decade. Tom believes the reason for the falling sales is due to the little guy who is worried that the gold and silver prices aren’t going anywhere. Now, this isn’t the case for the wealthier investor who continues to purchase precious metals on an ongoing basis.
Lastly, Tom explains that it is not prudent to own Gold or Silver ETF’s because there is no way to know if the metal is there. He goes on to say that it’s actually cheaper to store physical gold and silver than to risk one’s funds by investing in Precious Metals ETFs.
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.
If you are new to this site, you may want to check out our PRECIOUS METALS WEBINAR. There is a lot of good material discussed during that webinar… for free.
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Tom,
Two questions. Please answer here instead of asking me to call. Just trying to understand pm business a little. Exactness not required.
* What is approximate price difference in percentage terms (assuming you don’t want to state in dollars) between paying to store silver vs gold? To keep them equal in dollars, please use example of 100 ounces of gold vs 7600 ounces silver and specify by month and/or year.
Again, understand you don’t want to give prices on line so just percentages will suffice, if you wish.
* For a pm dealer, is there generally(and I stress generally) more profit in selling one metal over another under current conditions. Gold vs silver.
Thank you
Frank,
I tried to reach out to your email, but it was sent back undeliverable. Tom doesn’t respond to comments on my blog, but I can forward your information and then when he answers, I can reply here.
steve
Funny how people ask questions and leave a non valid email adress. Or post under different names with the same IP.
Even more funny you share this shit with us Steve ‘O.
Thumbs up.
Backed crypto’s, good point. As long as the Cisco’s and Microsofts of our world are able to maintain the complex communications systems.
I read a comment somewhere; After the monetary nonsense stops, NOTHING will be produced under its cost of production. So get yourself some physical assets. Pronto.
And yes, a wheelbarrow is a physical asset mr. Nobrainer.
Ray Dalio (Bridgewater Associates) owns about 15 million shares of the gold ETF’s. I hope he knows what he is doing.
Ray Buccino,
Yeah… I gather with that sort of money, he’d rather take his chances on paper gold. Even if all the gold isn’t in the GLD ETF vaults, at least he will profit from the gains when gold moves higher. I would imagine he also has physical holdings.
steve
Hi Steve,
That’s odd. The address is valid of course, and I just tested it. I am very interested in good communication. Perhaps I wrote it incorrectly or the server hiccuped. My apologies.
Appreciate you sticking with me on this and getting and posting the answer from Mr. Cloud. Will look forward to his reply.
Would like to think others find these interesting questions as well, except for Houtskool, of course, who has managed to puff himself up over in his corner with insults.
Just sent you an email from your contact page if you could please try again. Just a quick howdy but if you have tried unsuccessfully before on two other posts I made please inform.
Houtskool–So from this common mishap you deduce that I am so stupid as to use different names from the same IP address and or that I am full of “shit” as you say? says more about your level I imagine. Have noticed you have had nothing cognizant to say about my previous 2 posts or this one though you purport to be an experienced silver bug while I am new. Over your head, obviously.
Frank,
Thanks. Yes, I received your email. I forwarded your questions to Tom. He will likely reply Monday-Tuesday.
steve
Frank, it wasn’t you with the IP. I guess. There’s too much trolling, people changing the subject, server attacks, fake accounts etc. Don’t feel bad about it. I don’t.
Frank,
Here are Tom’s answers:
!. At every depository that we use except NZ Vault in New Zeland, the cost is based on value only. Example a client has $100,000 of Gold and a $100,000 of Silver the storage fee is the same. In this example, the fee for gold or silver would be $200 per year for each. Fees are paid 10 basis points every six months based on value at that time.
2. The profit the pm dealer makes is decided by the dealer. If the pm dealer is paying for shipping he may have a slightly higher markup on the silver. Any other questions let me know.
Tom
———————
steve
Gold and Silver.RIP!
Houtskool,
You should feel bad about it, not that I care. And you sure did a good job of “changing the subject” in a manner any troll would be proud of. A subject with ramifications you still never addressed. Done
Frank, i will pay you 100 bucks a year for safekeeping your stack.
WWIII is around the corner and noone is talking about it.
It’s just scary how people just ignore the economic wars around them . .
Economic wars lead to real wars. Always.
We have now dozens of silent proxywars with endless possibilitys to kick of this war.
Iran – Saudiarabia, Iran – US, US – Syria, Israel – Iran, Northkorea – US, EU – Russia and many more!
All it takes is a grenade in the right group of soldierst and a prepared explanation for the press.
Now the public is beeing prepared for the big proxy battlefields in Africa.
“Humanitarian crises” are the bait . . and everybody buys it. It’s about Ressources.
It . . is . . so . . scary how numb people sit in their chairs and watch their netflix and eat pizza.
Buy gold and silver . . but it to survive, not to bet on a view “major movements”. The time gold goes up is the time when bankers need to kick of the well prepared war to have a big smokescreen to set up the next fiat-sytem for you.
DON’T STORE IT ANYWHERE ELSE THEN IN YOUR HOME!
People who “store” the gold and silver “for you” “for free” just do it to wait until war breaks out and you are simply dead, so they get to keep the gold they sold.
They bet on this doublewin! Don’t listen! They know what’s coming!