Running out of money

Week 50.1 Running out of money

From my conversation with many of the silver seller, it’s seems that most customer already running out of cash to purchase silver despite the current attractive pricing. There is very little activity among the seller. I guess most silver customer already ran out of cash to buy bullion.

It’s also reinforce my old experience on gold, once a person already converted a fraction of his asset to precious metal, further conversion will be minimal as a major portion of his cash is already spent. With the current pricing which is still lower than year 2010 price, it further reduce the interest among the buyer.

The next sales cycle will be just around the corner when annual bonus is given out to working people. However sales will never return to the great sales in Sept 2011. So, when will be the next great sales, well when silver price rise up again to USD35, USD40/oz then we will see some major activities. I believe most sales will come from those who converting their pro-folio from gold to silver.

FYI since 20-Dec 2011 (can’t recall the exact date), UOB main branch already run out of stock for gold. Well, I wonder when will all these cash rich gold-buyers diversify into silver. We are right here waiting for you.

At the same time, I begin to run out of ideas on what to write on precious metal after more than 50 articles. Till then CU around.