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Read commentary from industry experts and SWP's feature writers.
Gold closed last week at $1484/oz. A week later, the yellow metal is firmly positioned at $1627/oz, having experienced some of the largest single day movements in its history. Silver fared equally well, rebounding from $12.35/oz to $14.48/oz this week (prices are in USD).
The price action was reflective of continued strong demand, bordering on 'extreme', for the metals. At this point, it's safe to say that most of the required selling of metal positions to cover margin calls and other liquidity requirements has ended. The fundamentals are now setting up nicely moving forward.
There is A LOT going on with precious metals at the moment. In fifteen years, I've never experienced a week quite like this one. I'm going to focus my comments today on the most critical points for investors; product availability, product premiums and the price outlook going forward.
I don’t generally comment on the markets unless I feel we’ve reached a critical point. My last communication with regards to the state of the market was back in September 2019 when I said that I believed we were entering the early stages of a precious metals bull market. Gold was trading at $1538 at the time. Just last week, we touched a seven year high for gold, and today we’re back to $1530 following a dramatic series of trading sessions, not only for the metals, but also for the global equity markets.
One of our clients recently submitted a question to our experts: What is the ideal ratio of metals to hold to weather the economic storms on the horizon? To answer their question, we took a look at data provided by the CPM Group, a leading precious metals research firm out of New York City. Their findings may surprise you.
Admittedly, Las Vegas is not my favorite place in the world. There are many other cities where I’d rather spend my free time. But out of necessity, I do find myself there fairly regularly, and if nothing else, Sin City has provided me with two very valuable life lessons, which can be applied to either gambling or investing in precious metals.
Gold and silver are experiencing an impressive rally at the moment. The yellow metal is up 20% since January 1st and 29% year-over-year. Our favorite white metal has fared even better, producing returns of 25% since Jan.1 and 36.5% year-over-year. This is all good news for precious metal investors, who have been waiting a long time for this rally. But the big question for many still remains; will we see new record highs (in terms of US dollars) for gold and silver, surpassing the highs we experienced during the last financial crisis?
In this article, precious metals expert Mark Yaxley, General Manager for Strategic Wealth Preservation in the Cayman Islands, addresses a common question asked by investors who are thinking of buying precious metals; “Should I buy gold or silver? Which is better to own?”
Our resident precious metals guru, SWP General Manager Mark Yaxley, answers the question “What should I look for when considering storing precious metals offshore?” When it comes to storing precious metals offshore, there are two main areas that investors need to consider. Number one, is the jurisdiction where the metals should be stored and secondly, is identifying the best secure storage facility within that jurisdiction.
“How do I get it there?” is a question I’m often asked by clients who wish to move their gold or silver from their homes into a foreign country. Usually, their intention is to move it to an offshore depository for long-term storage. Surprisingly, it’s much easier and far less risky than most people think, if done correctly. Hundreds of shipments containing relatively high values of gold and silver are shipped around the world, every day. Here’s how it works.
Prudent investors have held precious metals in their portfolios for thousands of years. Since 1998, when precious metals first qualified to be held in IRAs, that trend has continued for the same reason - because precious metals are still the only form of money that is not simultaneously someone else’s liability.