Thoughtful Money with Adam Taggart
The World Is Suddenly Desperate For Physical Gold & Silver | Andy Schectman
Mar 11, 2025
Andy Schectman, CEO of Miles Franklin and expert in precious metals, shares insights into the dramatic rise in gold prices, outpacing traditional investments. He notes a significant shift towards physical gold and silver, driven by declining trust in fiat currencies. The conversation touches on the implications of gold's new status as a tier one reserve asset and the importance of secure storage for these investments. Andy emphasizes personal relationships and trustworthy service as keys to success in the evolving precious metals market.
01:23:29
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Quick takeaways
- The recent surge in gold demand has led the U.S. to become a net importer of gold and silver for the first time in decades.
- A significant discrepancy between the number of paper contracts and physical supply signals potential systemic risks in the precious metals market.
Deep dives
Unprecedented Gold Market Activity
Recent developments in the gold market represent unprecedented activity, with the United States becoming a net importer of gold and silver for the first time in several decades. Since November, estimates suggest that over 15 to 20 million ounces of gold have been imported, dramatically exceeding previous import levels. In February alone, the COMEX market experienced the largest delivery in its history, with nearly 30,000 contracts delivered. This surge in demand and importation has raised questions about the motivations behind such significant purchases, especially from large institutional players.
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