Month: June 2018

Hello and welcome to this week’s Metals & Markets wrap. I am your host James Anderson filling is for Elijah Johnson. This week’s guest is coming up, but fist a short synopsis on the week for gold and silver prices.

Gold and silver saw healthy price rises from the start of the week. Especially during the Federal Reserve chairman, Jerome Powell’s press conference yesterday. Concerns over future price inflation and specifically the $1.9 trillion dollars still parked on bank balance sheets from the 2008 bailouts, and their possibly getting fractional reserve lent into the economy were a possible impetus as to why gold prices spiked during the discussion. Gold’s hit its week high price of $1,310 oz and silver briefly touched $17.30 an ounce on Thursday.

Both metals price momentums were short lived though, as of this morning a reported 260,000 COMEX gold futures contracts were sold in a 4 hour timeframe representing some $33 billion dollar dollars in notional value traded.

The US dollar index reached a 2018 high yesterday vs other long term debasing fiat currencies, yet it wasn’t until many hours later that waterfall defines in precious metal prices occurred.

Silver and gold futures trading volumes today will likely reach near the all time COMEX record levels witnessed the day President Trump was shockingly elected in November of 2016.

Finding a sensible reasons as to why this sell-off occurred today is unlikely. Most listeners including myself believe this to be yet another currency intervention and systematic buying of time.

Precious metal values remain relatively weak in relation to other overvalued asset classes.

Gold appears to be finishing the week at $1,280 oz with silver at $16.60 an ounce.

Moving along to our guest for the week, Mr. Josh Phair.

He is founder of the popular Scottsdale Mint in Arizona. Scottsdale is a world leading manufacturer and distributor of physical precious metals bullion bars, rounds, and legal tender coins we both buy and sell at here SD Bullion.

Josh Phair, founder of the popular Scottsdale Mint is our guest on this week’s program.

Questions covered included:

– How did you get into this business of privately striking bullion products?

– How about the downward price action in gold and silver today?

– What are the different manufacturing processes between manufacturing bullion bars vs coins and rounds?

– What are some of the headaches in your business?

– How long do typical dies last depending on the products?

– What is your long term vision for precious metals and the bullion industry in general?

We want to thank Josh for coming on the show this week.

For anyone watching on YouTube, click the link below to check out some of the Scottsdale Mint bullion products we currently carry here at SD Bullion.