Rosland buys and sells actual gold and silver. I suspect that when gold was above $5,200 per ounce and silver was at $105, spot price that people like me sold substantial holdings of gold and silver. Rosland paid about $90 per ounce under spot and a similar percentage under spot for silver. The recent huge drops in spot have stuck them with gold and silver inventory worth substantially less than they paid for it. As the prices continue to drop for silver and gold, people have stopped buying. If nobody is buying, they aren’t making the margin on the sale. So... No sales commissions, and the inventory continues to lose value. That’s a recipe for bankruptcy.
I sold my silver at $97 and it’s at $60 now. Somebody lost $37 per ounce. I sold gold at $5000. Somebody lost about $900 per ounce. It appears it could have been Rosland.
That’s my humble opinion. I could be very wrong.
It is much more likely that they were selling paper metals and when people demanded they send the physical, they didn’t have enough.
“The recent huge drops in spot have stuck them with gold and silver inventory worth substantially less than they paid for it. “
They were paying more to fill orders that were struck at a lower price.
They had no inventory. The have no inventory.
That’s my humble opinion. I could be very wrong.
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You aren’t wrong. Both metals peaked and are headed lower.
The smart sellers have already sold and the hoarders will just sit on their current inventory.
Until another event/signal in either market happens, not much will happen on upward pricing this year.