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Around the 5:40 mark, they say they see more sellers than buyers and later mention that premiums are coming down across the board...
Is it that potential buyers no longer want it or is it because of the following reasons:
1) Spot price is over $29 now and climbed to around $32 not too long ago. That's a big difference between the low 20s we were seeing just a few months ago.
2) Inflation is still rampant and basic living expenses are still high, maybe even higher than 6 months ago. Health costs, car insurance, property taxes, food prices, gas prices, etc. are all eroding into what people have left to spend on things like Ag or Au.
Even if people follow a dollar cost averaging model, they are still not able to buy as many ounces at these elevated spot prices. We all know this is by design, so the key is to hold on to your stack with tight hands and ride out the storm. Keep adding to the stack where you can, even if it's only a couple of ounces per month.
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