Looking at 1 year period Day chart's For both Gold and Silver with Just a causal 34 Weighted Moving Average you can see what all the fuss at talky level doesn't say..
Silver is trapping under the 34 and gold is basing over it.
Gold Open interest has dramatically increased form March 26th to mostly level out at 3/29/2018.
3/22/2018 Price of gold got back above the 34 wma and holding nominal above as a base to date.. 4/6/2018
Gold has had several of the days from 2/1/2018 to now.. above the 34 wma with good price swing action.
Silver Open interest has dramatically increased from February 23rd to mostly leveled out at 3/28/2018. What is a concern is the white metal has only closed above the 34 wma 2 days from February 1st to date.. 4/6/2018
Now it's obvious the silver is a much smaller futures market than gold. The high anticipation to an upside breakout seems to a more a "wanted" necessity than a literal "needed" one to suffice any story at all for those that keep physically buying the metal.
WE traders look at charts so much we tend to not realize the physical market around us. The Good Delivery Metal is shifting from a short throw ping pong game to a tennis court wide to and fro..
On the retail side,
Living in a metal mining state I pay attention to the table talk at street level. Regular people are mostly selling junk metal and buying up the silver non mint coins.
Not so much gold though as it's obvious at near $1400 an ounce with margin markup. Not giving much to walk away compared to silver.
When I quiz the commercial bullion buyers on metal buyback flip side of the deal. I watch their face when they answer. The Canadian maple 1 oz gold looks to be the top choice for several reasons. Portability, DNA security on the coin and the .9999 purity as well as highly credible point of origination. In tie to the gold maple is the Krugerrand at 22k makes it a heavier more durable coin to continuously handle. It's more orange gold like attributes to the added metal durability. It's well established in the market place.
The bars at street level don't market so well above an ounce with gold or 10oz bars of silver. And to even get good consideration they must be name brand serial bars or form mint origin.
Silver is marketable to dealers in smaller quantities. Such as up to 100 oz's. You start talking monster box's and the mood shifts. They will sell you all you can buy rightly so at an average profit of 1000 dollars a box to them they do noting more than order for you from their suppliers. I haven't seen anyone with an inventory beyond handfuls of random coins. Some bars and lots of novelty metal. With silver people tend to buy more novelty than the mint coins. This is telling me they're stacking silver without a lot of resell thought. People think they will be using single coins to make full on purchases at an inflated value.
Buy checking the street level to see whats marketable on a resell scenario. It's the Canadian Maple Gold 1 oz .9999 And the Krugerrand 22k 1oz .999
When you pull these coins out of your pocket and lay them on the counter you have their attention.. As they have a backing market for dealers to quickly unload their risk into a always on ready middle market.
When And If This So Raved About Market Implosion Occurs.. These are the 2 coins of preference with buyer dealers to convert haven value to street paper. Fiat Currency is not going away in any sudden manor. If anything a digital comparative will emerge from one of the big nations to be followed in kind by the others.
Anthony
Silver is trapping under the 34 and gold is basing over it.
Gold Open interest has dramatically increased form March 26th to mostly level out at 3/29/2018.
3/22/2018 Price of gold got back above the 34 wma and holding nominal above as a base to date.. 4/6/2018
Gold has had several of the days from 2/1/2018 to now.. above the 34 wma with good price swing action.
Silver Open interest has dramatically increased from February 23rd to mostly leveled out at 3/28/2018. What is a concern is the white metal has only closed above the 34 wma 2 days from February 1st to date.. 4/6/2018
Now it's obvious the silver is a much smaller futures market than gold. The high anticipation to an upside breakout seems to a more a "wanted" necessity than a literal "needed" one to suffice any story at all for those that keep physically buying the metal.
WE traders look at charts so much we tend to not realize the physical market around us. The Good Delivery Metal is shifting from a short throw ping pong game to a tennis court wide to and fro..
On the retail side,
Living in a metal mining state I pay attention to the table talk at street level. Regular people are mostly selling junk metal and buying up the silver non mint coins.
Not so much gold though as it's obvious at near $1400 an ounce with margin markup. Not giving much to walk away compared to silver.
When I quiz the commercial bullion buyers on metal buyback flip side of the deal. I watch their face when they answer. The Canadian maple 1 oz gold looks to be the top choice for several reasons. Portability, DNA security on the coin and the .9999 purity as well as highly credible point of origination. In tie to the gold maple is the Krugerrand at 22k makes it a heavier more durable coin to continuously handle. It's more orange gold like attributes to the added metal durability. It's well established in the market place.
The bars at street level don't market so well above an ounce with gold or 10oz bars of silver. And to even get good consideration they must be name brand serial bars or form mint origin.
Silver is marketable to dealers in smaller quantities. Such as up to 100 oz's. You start talking monster box's and the mood shifts. They will sell you all you can buy rightly so at an average profit of 1000 dollars a box to them they do noting more than order for you from their suppliers. I haven't seen anyone with an inventory beyond handfuls of random coins. Some bars and lots of novelty metal. With silver people tend to buy more novelty than the mint coins. This is telling me they're stacking silver without a lot of resell thought. People think they will be using single coins to make full on purchases at an inflated value.
Buy checking the street level to see whats marketable on a resell scenario. It's the Canadian Maple Gold 1 oz .9999 And the Krugerrand 22k 1oz .999
When you pull these coins out of your pocket and lay them on the counter you have their attention.. As they have a backing market for dealers to quickly unload their risk into a always on ready middle market.
When And If This So Raved About Market Implosion Occurs.. These are the 2 coins of preference with buyer dealers to convert haven value to street paper. Fiat Currency is not going away in any sudden manor. If anything a digital comparative will emerge from one of the big nations to be followed in kind by the others.
Anthony
"Look Left Think Right"
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