Joe Elkjer
Precious Metals Advisor
Joe Elkjer, a Precious Metals Advisor at Scottsdale Bullion & Coin since 2019, specializes in helping clients protect their assets through tangible investments. With a strong background in business and finance, he emphasizes stellar customer service and stays dedicated to informing clients about market impacts through frequent appearances on The Gold Spot.
“You have a new generation of investors coming into the market looking to upend the traditional Wall Street norms. You see it clearly in cryptocurrency, Wall Street Bets, and Wall Street Silver.”— Joe Elkjer, Scottsdale Bullion & Coin Precious Metals Advisor
The factors influencing silver prices and gold prices are changing. A new breed of investor is disrupting the gold and silver market, driving up physical demand with a host contrarian tactics:
Diamond Hands
Diamond Hands is the practice of holding onto a volatile or falling stock.
HODL
Similar to Diamond Hands, HODL is a tactic common in cryptocurrency trading of keeping stocks regardless of short-term price moves, particularly losses, based on a steadfast belief crypto—or gold—will one day replace fiat currencies.
Silver Squeeze
The Silver Squeeze is the strategy of buying up heavily shorted stock, in this case silver, to drive up the price and force naked shorts to close their positions, thereby driving up the price of the stock even more. It can be extremely effective, accounting for astronomical gains in AMC Entertainment (AMC) and GameStop (GME) stocks last winter. The stocks such viral campaigns target to short squeeze are referred to as “meme stocks.”
Watch the video above for more on these tactics from precious metals advisors Joe Elkjer and Damian White. Watch now.
Gold & Silver Supply Shortage
Who is this new generation of investors? They go by Wall Street Bets. They go by Wall Street Silver. They go by Apes. Whatever they call themselves, they’re a dynamite force on the gold and silver markets. When news hit of their planned Silver Squeeze, Scottsdale Bullion & Coin sold more silver in one week of February 2021 than the entire month of February 2020. By June of this year, gold and silver wholesalers were calling us looking for product!
It’s not just us, either. Rick Harrison, owner of the Gold & Silver Pawn Shop made famous on the show “Pawn Stars” is noticing the silver supply shortage too.
“It’s very hard to keep any bullion in stock and the bullion I do have I’m selling them for $4, $5 over spot when it comes to silver. It’s very difficult to get. Physical silver is a very hard thing to find right now. I know a lot of people in this business…physical delivery is very hard right now.”1
You know what happens when demand for gold and silver outstrips supply? Higher prices. That means today’s price of gold and today’s price of silver could present buying opportunities.
Which investments are the best to buy and HODL until the Fed’s grand experiment fails? Order your FREE Precious Metals Investment Guide to find out.
Get Your FREE COPY of our 2021 Precious Metals Investment Guide Today!
