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@WSBGold - Wall Street Gold
🚨 PHYSICAL GOLD & SILVER DEMAND IS JUST GETTING STARTED Physical keeps draining supply. https://t.co/U7awDvidaM
Video Transcript AI Summary
I’m back in Newark after a week in Germany meeting with governments, central banks, and wholesalers—over 50 meetings with wholesalers from Asia, Europe, the US, and others, plus talks with banks acquiring metal. Here are the key points from a few perspectives:
- Market backdrop: the world is broadly backed up on retail-ready silver and gold, especially silver. Many markets are backed up three to four months for product. Scottsdale Mint is not as backed up on most products and is working to keep product flowing. There is raw material in the United States, and Scottsdale Mint has no issues with US raw material for minting operations. In Europe, however, there are concerns in the second half of the year about metal flow and supply.
- Supply chain and refinery bottlenecks: the refineries are backed up for months, with some booked out for the entire year to premier clients. This is creating logjams and wide spreads in some markets. Some dealers in the US and elsewhere report buy-to-sell ratios around 10-to-1, forcing buybacks due to limited refinery turn-ins at storefronts.
- Price and market dynamics: the speaker noted being hit hard by the market, and previously posted a range of “1.50 to 50” (quoted as a guess in a volatile context). There is ongoing contention for physical metal, particularly silver and other critical minerals. The speaker believes the Chinese were bidding heavily and India was alongside them. A fund with a large premium over spot closed on Friday, trapping investors in that fund while futures trading continued, contributing to a cascading effect. When China closed, prices dipped from around 100 to the 70s, then recovered into the 80s. The market is volatile and likely to be a wild ride.
- Short-term and long-term outlook: in normal markets, such extreme moves typically take weeks to months to sort out technically, but Shanghai premiums are high enough that the recovery process could look different. The physical market could potentially overwhelm at current prices because every yuan in China buys more ounces than when prices were 20% higher. Silver remains the number one asset in 2026 despite recent declines. The speaker remains cautiously optimistic for the year.
- Strategies and advice: dollar-cost averaging, and avoid leverage. These assets should be acquired and held rather than aggressively traded. You can take profits along the way, but those buying ounces should hold. Those who bought last year or recently still own their ounces.
- Market entrants and youth movement: new buyers are entering the industry globally, across ages, including the US and Europe. A youth movement is visible on platforms like TikTok, signaling a growing interest in precious metals. This is expected to positively influence the long-term dynamics even as big players (governments, banks) are active and retail has shifted from selling to buying after a period of quiet.
- Clarifications and rumors: claims about a major US Mint closure are not accurate; a government entity paused orders to catch up but will resume. There is substantial misinformation, and the speaker plans more updates in the coming days and weeks.
Overall, the speaker forecasts a wild opening and anticipates further volatility and potential upside as physical demand and new buyers interact with existing market frictions and refinery constraints.
Full Transcript
Speaker 0: A quick update. I just landed in Newark, flying back from Europe. Just been in Germany for the last, week, meeting with, some governments, central banks, a lot of wholesalers. 50 plus meetings, so a lot of wholesalers from Asia, Europe, obviously, US, kinda all over the place. Also met with banks, that are actually acquiring metal, moving metal.
And I just wanted to give you guys an update, from a few different perspectives. The world is basically really backed up on retail ready silver and gold, in particular in silver. So a lot of markets, a lot of places are backed up upwards of three to four months right now for product. I know Scottsdale Mint, we're not quite that back backed up on most products, and we're doing our best to, to try to keep things, flowing. I will make a comment.
There is raw material in The United States. That is correct. Scottsdale Mint has no issues nor should any, any minting operation have issues with raw material in The United States. Other markets, however, let's say you're in Europe, there are concerns, in particular in the second half of the year. That has to do with just metal flow, where is it coming from, where is it moving, those types of things.
So I think Europe is kinda concerned about metal supply coming in probably q three. So right now, stateside, as a manufacturer, feel really strongly, metal is flowing in. We're gonna continue to see it. The refineries are backed up several months. Some of them are done for the whole year.
So they've booked out some of their premier clients. I'll you can figure out who they might be, and that's really causing a lot of logjam. So there are some dealers in the world, even in The US or other markets, where their buy to sell ratios have seen, you know, basically 10 to one, where, you know, 10 times as much selling, which means they're having to buy back. And because you can't sell to a refinery, in the event you can't turn it, you know, your outturn, know, at your storefront, that's causing a lot of cash. So you're seeing, you know, huge spreads on on product right now depending on the market, depending on the company, those types of things.
So, obviously, we got hit hard. The market did. You know, I posted on X last week, you know, that I am looking at a range one fifty to 50. That's right. So we're still in it.
And that was just a guess. So obviously, I I don't know. There there's a battle still. There's a battle for the physical metal of of silver in particular, but really all the critical minerals are being being fought over. And so I still feel pretty comfortable saying that, yes, the Chinese were bid up, so they were they were bidding it up.
They're they're the ones buying the most of it. And obviously so India is right there with them. And obviously, you know, what did happen there on Friday is one of the funds that was having such a huge premium over the spot price, they shut that fund down on Friday. So any investors in that fund could not buy or sell, but futures trading existed. So some of the people that had long positions were selling short in the futures market, kinda caused a cascading, marketplace.
And then clearly, you know, when China closed, it got hit again. So we kinda had that, you know, went from, you know, about dropped to about a 100, and then it got crushed, you know, into the into the seventies, pack pack pack, right back up into the the eighties. So here we are. The market's gonna open up here pretty soon. Don't know exactly what's gonna happen.
I think it'll be a wild ride. I would say in a normal market, you know, when charts have this type of extreme move up, and extreme down, it's usually gonna take several weeks to a few months to kinda sort out the technicals. That's in a normal market. My take though is that the Shanghai premiums are so high that the recovery process could look a little different. We could again see, further dipping, but I think I think the physical market could could come in and potentially overwhelm, at these prices because again, every every dollar that you're spending or every yuan you're spending in China is gonna be able to acquire more ounces at these levels than than when we were, you know, 20% higher.
So nothing's changed. You know, we're back you know, basically, where we're trading here is where we were two weeks ago. Silver's still the number one asset here, in 2026 even after, the the big bashing on on Sunday or sorry, on Friday. So, you know, kinda regardless of what's happening going forward, these are the minerals that the biggest entities in the world, and I'm talking to the governments, are fighting over. So I'm pretty I'm pretty optimistic again for the whole year.
Take a step back. Dollar cost average, is and I've also been saying on on my ex post, don't do leverage. These are not things you should be trading. These are assets to be acquiring, to holding. Obviously, you can you can always trade some, take some profits along the way, absolutely.
But I just kinda mean, you know, for those that are going over leveraged in the futures market, pretty hard to hold on to your metal. But for those that are buying ounces, nothing's changed. You know, if you bought last year, even if you bought a couple days ago, know, you still own those ounces. And so I kinda look at this as it's it's gonna be a really wild ride. And sometimes it's gonna be hard to hold on, you know, especially over over what what will be weeks, months, and years ahead of of everything.
So, this is gonna be a pretty wild, pretty wild opening here on, tonight late this week. Let's see late this weekend. Let's go ahead and see what happens, this week. Let's kinda let things sort out. But I wanted to kinda give you a first, first glimpse of what's happening in the physical market.
We'll also comment new people are coming into this industry, and I mean buyers are coming into this industry worldwide, of all ages. So we're basically I think everything the governments, the politicians are doing in the world and now obviously, the prices are attractive. It's attracting a whole new class of people, stateside in The US, which in in Europe. The youth movement is is on. This is really, really encouraging to see.
I would say it was a, for the most part, kind of a dying industry the last twenty years, Kinda aging out, retiring out. Now the youth movement, you're seeing stuff on TikTok, what whatnot. You're seeing a big movement of precious metals. That's gonna have a huge dynamic long term. It's something to be excited about because, you know, I've talked about with the bigs are in, they're in, the banks are in, but retail was quiet for two years.
The last couple of years, they've been selling in. So the selling has still continued, but now we're seeing that buying come in. So what happens when those three, those three different groups are all clamoring for the same asset all at the same time? That's where it gets pretty interesting, and that's why this squeeze really is not over. Maybe some of the news wants to say it's pretty much done.
It is not. By the way, all the the rumors of a major US Mint that closed down, I know exactly who they're talking about. I had a good laugh with them. They didn't have a they they put it on pause for order so they could catch up. That's all it was.
And I won't I won't mention who it was. It was a government entity, and it wasn't in The United States. They literally just had to put a pause for a little bit while they catch up, and then they're gonna resume, you know, orders. So really, there's there's so much misinformation out there what's going on. I'm gonna give you guys a whole whole host of of more updates in the coming days and weeks.
So stay tuned. Thanks. God bless.
@WSBGold - Wall Street Gold
🚨 RAY DALIO: "The beginning of the end of the monetary system as we know it. It's not just the US dollar, it's the fiat monetary currencies." https://t.co/wGJiQPUYhG
Video Transcript AI Summary
Speaker 0 argues that it's the beginning of the end of the monetary system as we know it. It's not just the US dollar; it's fiat monetary currencies in general. They note that the UK, the euro, Japan, and China have similar debt problems and share interrelationships, which is the reason central banks are choosing gold. The implication is that these dynamics are driving a shift toward gold as a preferred reserve asset.
Speaker 0 emphasizes that gold has always been the main currency and identifies it as the only non-fiat currency—meaning it is not the currency that can be printed. This point is presented as foundational to the argument about why gold is being selected in the current environment by major financial actors.
Building on that assertion, Speaker 0 asserts that central banks are moving toward gold, and sovereign wealth funds are likewise moving toward gold. This movement is described as the nature of the shift occurring within the monetary system. In other words, the combination of widespread fiat debt concerns among major economies and the longstanding status of gold as a non-fiat currency is depicted as driving a broad realignment in reserve preferences and asset holdings.
The overall claim is that the monetary system is undergoing a transformative change driven by debt-related pressures across major economies and the comparative stability or non-fiat status of gold. The speaker links the observed behavior—central banks and sovereign wealth funds increasing gold allocations—to this larger shift, framing it as part of a systemic evolution rather than as isolated actions.
In summary, Speaker 0 contends that the current moment marks a fundamental transition away from fiat currencies toward gold, driven by debt problems across major economies and the historical role of gold as the main and non-fiat currency, with central banks and sovereign wealth funds moving to gold as part of this shift.
Full Transcript
Speaker 0: It's the beginning of the end of, the monetary system as we know it. It's not just the US dollar. It's the fiat monetary currencies. So The UK, the euro, Japan, China, have similar debt problems and so on and are dealing with the same interrelationships, which is the reason you're seeing gold being chosen by the central banks. They want a a currency.
Gold has always been the main currency, and it's the only non fiat currency. In other words, not the currency that can't be printed that they want. And so that's why you're seeing central banks move and sovereign wealth funds move to gold, and that's the nature of the shift of the monetary system.