Perth Mint Out of 100 Ounce Silver Bars

kingworldnews.com

King World News has verified with the Perth Mint that they have run out of 100 ounce silver bars and they are not slated to be available again until the end of March. As of the close Thursday, 100 ounce silver bars were still unavailable at ScotiaMocatta as well.

KWN also reached out to one of the largest dealers in Australia where Peter August of ABC Melbourne stated, “Pamp was just approached by an unnamed Swiss bank and solicited for their entire one kilo silver production ongoing. They said, “Because of the high demand, we’ll take everything you’ve got in one kilo silver bars ongoing.” Peter August went on to say, “We already have a month’s wait for the silver we are buying and it’s getting much harder to find.”

August also remarked, “Gold is starting to get a lot scarcer. Apparently at one point Hong Kong basically ran out of physical gold for sale two weeks ago. We were told that there was no physical gold available for sale in Hong Kong with no timeline given as to when more would be available. Mitsui ran out and the large dealers in Hong Kong were short of physical gold as well. Wether that was just a one time situation remains to be seen, but cracks are starting to appear in the physical market.”

Multiple sources around the world have been confirming tightness in the precious metals markets. So far the market has reacted with higher prices. Silver is within striking distance of multi-decade highs, it will be interesting to see how it trades the next couple of weeks.

Eric King

KingWorldNews.com