Gold and silver buyers are still outpacing sellers

Gold and silver buyers are still outpacing sellers by a stunning 50 to 1.

Amazingly, on Saturday 41-year market veteran Bill Haynes warned King World News that we were already on the verge of seeing major shortages of available retail bullion products. Well, there are already massive shortages of bullion products. Haynes also updates KWN readers globally on the stunning margin which gold and silver buyers are outpacing sellers. Below is what Haynes had to say in this extraordinary interview.

Haynes: “Eric, on Monday there was such chaos in the markets that some of the larger wholesale dealers had to shut down at various times because of the massive demand on the buy side. These wholesalers simply had to quit taking orders not only because of the demand, but also because of the enormous price volatility....

Gold and silver buyers are still outpacing sellers by a stunning 50 to 1 . There were premium increases on everything bullion related. The wholesalers are now telling us four to six weeks on silver maple leafs, and wholesalers quit taking orders on one ounce silver rounds. Wholesalers also kicked the premium higher on 100 ounce silver bars as well.

There was such enormous volatility in the market today that one large trade we were placing for gold moved $8 in just five seconds before the price could be locked-in. Eric, I have been doing this now for 41 years and I haven’t seen this type of action since 1980.

The price movements were absolutely breathtaking on Monday. What I want KWN readers to understand is that as gold turns around, and eventually breaks $2,000 on the upside, volatility will become even more intense. Just like Jim Sinclair has warned, the volatility is going to eventually light peoples’ hair on fire.

There are going to be times when gold will see one-day moves that will truly shock people. When the really big money decides to put 5% or 10% of their assets into physical gold, there is simply not enough physical to go around. At that point the gold market will see even greater moves to the upside than what we just witnessed on the downside.

Over the weekend I warned KWN readers about coming shortages and they are already here (click here to read that interview. We are already seeing shortages in junk silver coins, silver rounds, silver maple leafs, and American Silver Eagles. But when it comes to junk silver coins, there simply isn’t any available.”

Haynes also added: “The bottom line here is that gold and silver are better buys today than they were in 2000 because the magnitude of the problems are much greater today than they were back in 2000. The big money knows this and that is why we are seeing buyers outpacing sellers 50 to 1.”

This was just a small portion of the type of critical information which is covered each week in the KWN Weekly Metals Wrap with Bill Haynes and Dan Norcini. To hear a continuation of this conversation, you can listen to the entire interview by CLICKING HERE.

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Eric King
KingWorldNews.com

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