RE: Moving The Goal Posts2 Feb 2021 00:10
Regarding spot price, premiums, etc. I used to have a holding in Amara Mining, before that called Cluff Gold. They did a deal with Samsung whereby Samsung would buy gold direct from the miner cutting out the exchanges, the COMEX etc. For those who don't know, all electronic goods use gold on the circuit boards - your computer, smartphone, TV, all of them - that is why Samsung needed gold.
I think it was Jim Sinclair who, years ago, said that when the rigging ends and the paper market collapses, the miners will sell directly to the buyers and there will not be exchanges quoting a gold price, nor silver, and you negotiate your own price. Who knows what will happen but, sadly, we live in interesting times.