At this year’s Sprott Natural Resource Symposium, the Investing News Network caught up with Andy Schectman, president of Miles Franklin.
“The number of orders we are seeing in the industry has really shrunk, but the size of the orders has increased exponentially,” he said. “The public is still out of this market, (but) the people that see it for what it is are jumping with both feet — we are seeing accredited and institutional investors see substantially large purchases, but at this point certainly the mainstream is not involved.”
He also shared his thoughts on the Basel III accord and how that resolution has impacted prices.
“As a result, 2018 was the largest acquisition by central banks in the last 50 plus years — Q1 2019 is 75 percent up versus Q1 2018,” he explained. “To me, big money is trading ahead of the curve.”
Giving his suggestion to investors, he said: “Follow what the big money is doing … They are de-dollarizing and putting their money into precious metals.”
For Schectman, investors are nowhere near “too late” to invest in bullion — this is the very beginning, and there’s lots of room left to go on the upside.
He also talked about why he still likes platinum and silver.
“Platinum and silver are two of the most undervalued commodities on the planet,” he said. “In fact, platinum is more undervalued today than what it was last year.”
“But when I look at silver, and the silver ratio to gold, which is somewhere around 90:1, that is as unusual as 4 feet of snow in the Florida Keys in August.”
Finishing up, Schectman reiterated that he truly believes this is the time to enter the market.
“If you are looking for a big bang on your money it’s silver, if you are looking for safety it’s gold and if you are looking for speculation it’s platinum.”
Watch the video above to learn more about Schectman’s thoughts on precious metals. Our full playlist for the Sprott event can be found on YouTube.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
