by Steve St. Angelo
This is an important precious metals update by Tom Cloud. Tom first discusses how banks are buying more gold because it was raised to a Tier 1 asset on the bank’s balance sheet. It’s not just Central Banks buying gold, it’s also smaller regional banks as well.
Tom also discusses what he is hearing about in the precious metals wholesale market. He discusses new buyers coming in with very large preliminary orders. Also, the wholesalers are warning of possible big delays this fall for certain precious metals products.