{"id":56586,"date":"2021-01-31T11:07:27","date_gmt":"2021-01-31T16:07:27","guid":{"rendered":"https:\/\/olduvai.ca\/?p=56586"},"modified":"2021-01-31T11:07:27","modified_gmt":"2021-01-31T16:07:27","slug":"everyone-is-afraid-ahead-of-the-open-reddit-raiders-spark-nationwide-physical-silver-shortage","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=56586","title":{"rendered":"“Everyone Is Afraid Ahead Of The Open” – Reddit-Raiders Spark Nationwide Physical Silver Shortage"},"content":{"rendered":"
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“Everyone Is Afraid Ahead Of The Open” – Reddit-Raiders Spark Nationwide Physical Silver Shortage<\/a><\/h3>\n<\/header>\n
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Update (1100ET)<\/strong><\/u>:\u00a0For some background on just how unprecedented this weekend’s action in silver markets is,\u00a0Tyler Wall, the CEO of SD Bullion<\/a>\u00a0writes the following (emphasis ours):<\/p>\n

In the 24 hours proceeding Friday market close, SD Bullion\u00a0sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend<\/strong>\u00a0leading to Sunday market open.<\/p>\n

In a normal market, we\u00a0normally can find at least one supplier\/source willing to sell some ounces<\/strong>\u00a0over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend).<\/p>\n

However,\u00a0everyone we talk to is afraid of a gap up at Sunday night market open.<\/strong><\/p>\n

This is about ready to get really interesting as there was very\u00a0little inventory left from suppliers\/mints going into Friday close.<\/strong><\/p>\n

Our direct AP supplier informed us after close on Friday that\u00a0the “US Mint will be on allocation for the remainder of Type 1”<\/strong>\u00a0(Current Silver Eagle Design).<\/p>\n

Our sales for the month of January exceeded any one month last year during the heart of the pandemic.\u00a0It was an all-time record month in our company history.\u00a0<\/strong><\/p><\/blockquote>\n

And, perhaps most importantly, as QTR tweets so succinctly,\u00a0“this is a red pill moment for many, and it’s beautiful.”<\/strong><\/em><\/p>\n