DONALD TRUMP AND THE CONSERVATIVE PARTY DTACP

[mick]

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The Mint also sold over 4.8 million one-ounce American Silver Eagles this month, the highest sales for the month of March since 2014.

Bullion retailers couldn't be happier. Bullion dealers around the world are so busy, many sold out of their most popular gold and silver bullion products.

One local dealer in Baltimore told me:

Gold and silver are selling better than snowballs in August.

But there's one big catch, dealers are having a hard time getting inventory to sell due to logistics disruptions stemming from the coronavirus pandemic.

The senior vice president at Chicago-based broker Zaner Group, Peter Thomas, was quoted in a Bloomberg article this week saying:

This hasn’t happened before, and this is very unique: We have a situation where there is silver available but no one will deliver it. They won’t load the trucks. They won’t load the planes because the coronavirus. Even though there is product around, they won’t pick it up.

Right now every major national bullion dealer has shipping order delays from three and 15 days. And most have temporarily enacted a purchase minimum of $300, creating headaches and heartaches for both consumers and retailers.

Transportation issues are affecting the pricing of gold around the world. The difference in gold prices between major hubs New York and London, for example, is usually only a few dollars.

That few dollar difference somewhat stems from the fact the London gold spot market is dominated by 400-ounce gold bars. Meanwhile, the standard on Comex is 100-ounce bars and kilograms, giving them a slight premium over their British counterpart.

Whenever gold bars need to be recast into a different weight, it's normally not much of an issue. Traders just fly gold on commercial flights between vaults and refineries in New York, London, Hong Kong, and Singapore.