Does anyone here know much about precious metals trading? I work in physical base metals and I am somewhat mystified as to what precious metal traders do.
There are a bunch of articles on how banks at the London gold and silver fixes are rigging the market but I'm not entirely sure why anyone should care.
Anyhow, I found this job posting (http://www.cnconsultancy.com/recruitment/examples…) which talks about recruiting bullion traders and merchanting ones who are essentially doing physical trading in precious metals.
Does anyone know who the major players in this field are and what it takes to get in? And could precious metals trading be a good entry into precious metals mining? I've been reading about Silver Wheaton and I'm pretty amazed at how quickly these guys built the world's largest silver company in a decade.
Anyone?
Dunno but Deutsche (former major playa in precious) killed their precious desk way back in 13/14 because apparently they didn't make enough money.
There's a precious metals trading desk at Glencore, and also Sims Metal Group who have significant market share in scrap refining.
Digging some more, bigger players I could find on the physical side were INTL FCStone, BASF, MKS, Valcambi, Trafi... does no one here work in the space?
I'm just picturing Glen Beck.
I know... you go on the websites of some of these refiners and it's hard to tell whether you are dealing with actual traders or guys who go on CNBC explaining inflation will hit 100% next week and then open their suit to reveal an assortment of gold bars, the 'perfect hedge.'
I remember when it was $1900/oz during the EU crisis. I've never understood the 'perfect hedge' mantra for precious metals. I don't see any sustained value beyond the producer breakeven + cost inflation, maybe wedding season in India (?). Growing dividends (and reinvesting) is probably the best hedge against inflation.
I can't imagine what it's like to live and breathe that for a career.
PM me
GoodBread are you still curious? Or did you get an answer
Got some good answers. Things are looking pretty good in my corner of the world right now, think I am going to stay put.
Scotiabank Mocatta is the largest precious player
One of the world’s most precious metals is Platinum and it is one of the highly demanded metal with numerous industries. It possesses its own trifecta, a contract value, margin requirements, and ticker symbol. In order to trade one of the precious metal commodity, one must be knowledgeable of its three components and learn how to make use of them in order to be able to calculate possible profit gain or loss.
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