The Sprott Physical Silver Trust (PSLV) has now added ~10 million oz of physical metal in under 3 weeks and is over 100 million oz of physical silver in the vault for the first time ever! This newfound popularity for physical silver trusts should also benefit Sprott Inc (TSX: SII) shareholders with larger fees and larger dividend checks in the not too distant future. Also, gold kilo bars are now out of stock from both APMEX and their wholesalers according to someone who tried to buy some more gold so the spin off from the Reddit Wall Street Bets silver forum after cleaning out a lot of physical silver is now moving onto cleaning out physical gold. Plus, Chinese and Indian demand for gold have increased a lot in January 2021 compared to all of 2020. And online retail bullion dealers like JM Bullion still cannot source 100 ounce silver bars.
Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason's work at his blog website at www.jasonburack.com.