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I have stopped video for 2 weeks but will make it up soon.
Precious metals overall up. Gold up 100 usd per oz within 1 day.

Many dealers in singapure buy back physical gold bar and coin at 1 to 2 % above spot but some still buy back below spot despite the shortage of physical in market.

What will go for next few day ?

BullionStar Update – The Window to Purchase Precious Metals with Fiat Currency is Closing
Date 19 Mar 2020 06:30
More and more refineries, mints and fellow bullion dealers are suspending their operations indefinitely. At , we are facing significant operational and stock inventory challenges. There’s an acute shortage for particularly ,  and . For , some of the private refineries are still open and take orders but have long backlogs.

COMEX and London OTC Spot Price Discovery Failing
What does this mean for price premiums?

Due to the paper spot and futures precious metals markets  for physical precious metals, premiums are high and are fluctuating a lot.

The precious metals price premium mechanism is there to balance physical demand and physical supply of precious metals.

Despite higher than normal premiums, demand for physical precious metals continues to be overwhelming. We receive several hundred orders each day. We’ve had two hour waiting times in the shop even though we just  and even though we have an extremely efficient system for serving customers. At BullionStar, we currently have about 8 customer buy orders for every customer sell order which is the highest we have seen in years.

Extreme Demand – Scarce Supply
Precious metals have been hit by a double whammy. Demand is truly extreme and unprecedented, and at the same time due to the COVID-19 situation, the bullion supply chain is facing the same issues as other scarce good supply chains.

The underlying problem here is that price discovery for precious metals is a farce and is broken as we have warned about and pointed out so many times over the years such as , , ,  and .

Disconnect between the Paper Price and Physical Price
There is  a disconnect between on the one hand, the COMEX futures and London spot OTC market and on the other hand, the physical precious metals market.

Unless there is a very strong rally in the paper market that balances physical demand and supply, the disconnect between the paper market and physical market may widen until the paper pricing system (COMEX futures and LBMA unallocated system) implodes.

In a scenario where the paper spot market doesn’t rally to balance physical demand and supply, physical precious metals will no longer be priced based on the spot market. Bullion dealers will stop pricing metals. Many have already done so by suspending the accepting of orders.

When preferences in the derivatives paper spot and futures markets, which are unbacked or only partially backed by precious metals, differ from supply and demand in the physical market, prices disconnect.

The Window to Purchase Precious Metals with Fiat Currency is Closing
The window for purchasing physical precious metals with fiat currency is quickly closing. At this time, it is still possible to settle physical precious metals purchases in fiat currency with some bullion dealers. At BullionStar, we are still accepting orders for precious metals settled in fiat currencies, and priced based on spot with a premium, but that is subject to change.

I would strongly recommend everyone to value and count their physical precious metals in weight i.e. in grams or troy ounces, not in fiat currency.

If you don’t hold physical precious metals yet, the window for acquiring metal is closing in. At BullionStar, we still have inventory stock of some items but are running out quickly. By traditional means, our premiums are very high but still not high enough for physical demand and supply to balance.

If you as a saver or investor find actual bullion in stock with another bullion dealer that has better conditions than us, go for it. At this time, any fiat currency price quoted for physical metals is a good price.

When physical precious metals are no longer quoted in fiat terms, it’s too late to buy, and it doesn’t matter what paper gains you may have made in the past because you cannot use fiat to change your paper into real money, gold.

At the point where physical precious metals are no longer quoted in fiat terms, price discovery on the physical market will eventually be re-established and be based on the physical supply and demand. This is how free markets work.

The gold price needs to be determined by the supply and demand for actual physical gold.

This transition is called Freegold.

Freegold is the adjustment mechanism that corrects the imbalances between the artificial debt/credit/paper system and the real physical world represented by gold.

As I write this, our debt based monetary system where money is created out of thin air as debt, is imploding.

We are facing a strong hyperdeflationary pressure and governments have already started to, by all means available, monetise credit with newly created base money/cash. When people realise that the governments will not be able to bail everyone out like in 2008, confidence will evaporate quickly with resultant hyperinflation.

So far this financial and monetary crises is playing out just like I have repeatedly predicted since starting my first bullion dealer,  in Sweden in 2008. The only difference being that it plays out much quicker than I can fathom, which makes it feel surreal. The broken financial and monetary system was in fact the reason I started Liberty Silver in 2008 and subsequently BullionStar in 2012. I’m certainly not being self-congratulatory though. The monetary crises we are facing will no doubt be challenging for humanity. We are not well prepared. People have substituted knowledge and crises preparedness for belief in governments.

I’m also stressed about how we at BullionStar can assist as many customers as possible without being completely cleaned out of inventory and without our staff members being overwhelmed. And how are we going to service the bullion market when the current monetary system burns?

This is a systemic crises which I believe will bring an end to our current monetary and financial system. Stay safe and prepare as well as you can!

BullionStar Customer Buy Orders
We have never before had any minimum order size, and under normal market conditions we provide everyone with the opportunity to buy precious metals. However, we are now flooded with orders and it would be impossible for us to physically handle the situation if we don’t adopt purchasing restrictions. Orders below the minimum amount of SGD 1,000 or equivalent in other currencies that were placed before the restriction went into place will of course be honoured.

As always, your price is locked in once your order has been placed and confirmed.

The following are our current processing and handling times.

Vault Storage Buy Orders
We endeavour to process vault storage orders for items in stock within three business days.

Domestic and International Shipment via Courier
We endeavour to process and send outgoing shipments within three business days. However, please be aware that items in transit to you may be delayed due to couriers being impacted by the current COVID-19 crises where many international flights have been cancelled.

Shop Orders Over-The-Counter at our Bullion Center at 45 New Bridge Road in Singapore
We will try to do our best to serve everyone in the shop although expect that waiting times may be long at times.
BullionStar Customer Sell Orders
Sell Back Premiums have been increased significantly. We are currently paying the following.

BSP Grams Gold: Spot + 2%

Gold Coins ~ Major bullion gold coins such as , , , , , : Spot + 1.5%.

: Above spot for most major sizes like 1 oz, 10 g, 20 g, 50 g, 100 g bars

BSP Grams Silver: Spot + 12%

: Spot + 22%
: Spot + 17%
/////: Spot + 12%
: Spot + 3% to 5% for all major sizes.
Philipine has stopped the stock market.

Many Eu countries and Asia have implemented city/country lock down for 14 to 30 days.

Will other country like Philipine stop the stock market in this global fear?

It is interesting to observe and find opportunity in this rocking time.

Buy as when it is low and panic sell if you can get it from market and having extra cash.

This covic 2019 not as serious as N1H1 in term of number of died and infection BUT global fear and panic are much more serious globally. On top of it, many fakes news, lobbying, racist chaos and unstable, blaming game, conspiracy concept from private and government and other been created globally to make things worst. No confident of human to the government handling the virus globally even this covic not as serious as N1H1 2009 and swine virus 1918.

We are more educated , well informed and advance in 2020 vs 1918 & 2009 BUT we act more panic and fear as facing the less serious cases now. WHY!!!!
So not be so happy by saying I can get cheap silver and other precious metals physically at Low spot. I get nothings cheap and bargain which seldom dealers will sell you.
2020 March 16 precious metal market facing a record low and free fall.

It is good time to buy. However you cannot get the physical stock at good price at all even the spot has falling significantly.

I have checked USA, Uk , Malaysia, Hong Kong and Singapore majors bullion companies which none have available stock for big size precious metal bar and bullion coin or they have up the premium and spread of the product to counter the fall of the spot fall. (I.e spot fall 20 % which they up 25% of premium). This has end up you buy the pm more expensive than the higher spot price time.

2019 1 kilo silver panda coin

2020 30 g silver panda coin NGC graded

1994 silver panda 1 oz small date NGC ms70 rare pop 57 as at 20 Feb 2020

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