Below is an update of the physical precious metals markets over the past 48 hours:
90% premiums skyrocketed over the weekend after the Greek Referendum vote with availability nearly nill- wholesalers/distributors are now offering 90% silver in volume at up to $3 over spot, and supplies are rapidly vanishing
Silver Eagle premiums instantly skyrocketed across the market, with premiums rising as high as $3.25 over spot/oz WHOLESALE / IN BULK
Between 4pm EST and 5pm EST on Tuesday 7/7, one of the largest Authorized Dealers sold through 250,000 Silver Eagles and raised premiums .50/oz further!
SDBullionbroke all-time sales records Tuesday for order volume as well as total ounces sold- with demand FAR OUTPACING the Nov 5th 2014 bottom for gold and silver which had previously held both records.
Later in the afternoon, premiums began surging on Silver Maples and silver rounds and bars, and Authorized Dealers are advising that a production and premium hike announcement is expected imminently from the Royal Canadian Mint.
Wholesale premiums on many silver rounds and 10 and 100 oz bars HAVE DOUBLED in 48 hours.
SDBullion received a wholesale quote from one of the largest Authorized Dealers Wednesday for nearly $5/ozover spot for 5,000 oz of current year America The Beautiful Coins- a premium spike of over 100% in less than 24 hours!
Tuesday, the Sunshine Mint rounds and bars went from immediately available to production completely sold through August 13th in under 4 hours!
In many cases, physical silver is now MORE EXPENSIVE to acquire (on both a wholesale as well as retail level) after a $1/oz paper smash than it was prior to this week’s trip down the proverbial mine-shaft!
Wednesday the shortage began to spread to GOLD products. . . . .