Is the gold picture becoming speculative? I think it might be. The chart below shows the ratio of GDX (the stocks of larger gold mining companies) divided by GDXJ (smaller more speculative junior gold mining stocks). You can see what’s happening, the junior stocks are now outperforming the biggies. This is a sign of growing speculation in gold and gold mining stocks. I think it has quite a ways to go before the gold bull market breathes its last. – Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe.
Widespread Silver Bar Shortages
As of today, there are no longer any regular wholesale supplies of the 1 ounce through 100 ounce silver rounds and bars available for immediate delivery. It may be possible to locate incidental quantities of some product, but most wholesalers are now promising two to four weeks delivery to allow time for the silver to be fabricated.
As a result of the shortages, premiums have started to rise. So far, the increases have been modest, on the order of 0.5-2%. However, if the shortage grows, expect to see further and larger premium increases in the coming weeks. We could see a repeat of the late 2008 gold and silver buying frenzy, where product availability got as slow as 1-4 months after payment.
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