Loading ...Canadian Banks taking over precious metals trade?
Appears to be anecdotal at this point but worth paying attention to.
“Conversation with Canadian precious metals dealer yesterday. How interesting this was. He’s been in business for at least 40 years.”
While his comments about the banks motivations are possible, getting rid of competition is a more long term plan, while forcing them to sell off their inventory(assuming they still have any) may be a more immediate goal. The banks may want to buy what ever is left at bargain prices if the dealers are “forced” to sell because of a liquidity squeeze.