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Gold has been setting new record highs earlier this year, and silver finally broke the $30 level. However, in many past rallies, there has been a surge in demand for physical metal buying in the US retail market. But that has not been the case this time around, according to Andy Schectman of Miles Franklin.
Andy Schectman recently appeared on the Arcadia Economics show to discuss the latest conditions in retail, the country’s reaction to last Thursday’s debate, and some updates on the BRICS. According to Andy, the lack of significant participation from US retail investors in the gold and silver rally is an interesting development, as it implies that there is still a lot of buying power to enter the market.
The fact that US retail investors have not yet jumped on the gold and silver bandwagon indicates that there may still be some hesitation or skepticism about the current rally’s sustainability. However, it is also possible that many retail investors are waiting for a more significant pullback before entering the market, which would provide a better risk-reward ratio for their investments.
Another reason for the lack of participation from US retail investors could be the current economic climate. With the ongoing pandemic and the unprecedented monetary and fiscal stimulus measures, many investors may be focusing on other assets, such as stocks, bonds, or real estate, rather than precious metals.
However, Andy Schectman believes that this trend may change soon, as the US market begins to buy physical gold and silver. He notes that while the US retail investor has not yet participated significantly in the rally, there are signs that demand for physical metal is increasing, especially outside the US.
In addition to the precious metals market, Andy also discussed the latest developments in the BRICS (Brazil, Russia, India, China, and South Africa) countries during the show. He noted that these countries have been working towards creating an alternative financial system that is less dependent on the US dollar and Western financial institutions. This development is significant, as it could lead to a shift in the global economic and financial landscape, with potential implications for the US and other Western economies.
The lack of significant participation from US retail investors in the current gold and silver rally is intriguing, as it implies that there is still a lot of buying power to enter the market. As the economic and financial landscape continues to evolve, retail investors may start to pay more attention to precious metals as a safe haven and an alternative investment option.
In conclusion, the current gold and silver rally has not yet triggered a surge in demand for physical metal buying from US retail investors. However, this trend may change soon, as the US market begins to buy physical gold and silver, and as the global economic and financial landscape becomes more uncertain. As always, investors should do their due diligence and carefully consider their investment strategies before making any decisions.
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