from WallStForMainSt
Has the coronavirus provided gold and silver prices an unexpected tailwind for the next phase of their bull markets?
Due to the coronavirus, many gold and silver miners, refiners of precious metal and even the US mint are temporarily shutdown.
Peru’s government also ordered a mandatory shutdown for Peru’s silver miners. So has Mexico recently. Combined, Peru and Mexico make up an enormous amount of the annual silver mine supply and both countries have shut down mining within their borders.
GLOBAL SILVER SUPPLY COLLAPSE ON ITS WAY: Mexico mining suspension to hit silver supply https://srsroccoreport.com/global-sil…
Demand for gold and silver from investors is rising while there’s clear bottlenecks and supply disruptions all over the world.
According to the CEO of Americas Gold & Silver, an emerging miner with a new gold mine in Nevada, gold mining is (surprisingly) an essential business in Nevada and the state has decided to not shut down the mines yet. So the Relief Canyon mine that Americas Gold & Silver owns in Nevada is close to announcing commercial production. https://www.kitco.com/news/2020-03-27…
Plus, central banks are massively increasing the amount of fiat currency and credit into economies and asset markets.
24,489 contracts equivalent to 2.4 million ounces for April delivery have been redeemed for metal, the highest monthly total since at least 2011, CME data show.
Gold market propaganda article by Reuters: https://mobile.reuters.com/article/am…
U.S. Silver Eagle Sales Surge Past 5 Million In March: Availability At Low Prices… CHECK HERE https://srsroccoreport.com/u-s-silver…
SILVER EAGLE UPDATE: Premiums Range Between $6.50-$10.00+ Based On The Dealer https://srsroccoreport.com/silver-eag…
1 Oz Silver Eagle Finalized Sales on Ebay: https://www.ebay.com/sch/177653/i.htm…
Monitor the gold:silver ratio here: https://goldprice.org/gold-silver-rat…
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