Andy Schectman: Gold’s “Great Awakening” Bringing in New Buyers

Investing News Network, Released on 1/19/21 (Recorded on 1/14/21)

*This interview was filmed on January 14, 2021.

0:00 – Intro
0:19 – 2020’s “great awakening” for gold investing
3:27 – Understanding new entrants in the gold space
8:04 – Are last year’s gold supply chain issues resolved?
13:51 – The rise of the “others” on the COMEX
16:58 – Why isn’t the gold price higher?
23:53 – No one is selling gold right now
29:56 – Silver the “buying opportunity of a lifetime”
34:04 – Best advice for investors in 2021
37:15 – Outro

2020 brought a marked increase in gold demand from investors — but where did that demand come from, and is it set to continue in 2021?

Recapping last year, Andy Schectman, president of precious metals dealer Miles Franklin, said gold investment demand was beyond anything he had seen before, and came partially from people who hadn’t previously been buyers.

“I’ve been in this industry for 30 years, and working 18 hour days, seven days a week would have been something I would have laughed at … I think there’s been a great awakening, I guess that’s the way that I would explain it,” he said

Andy Schectman is the President and CEO of Miles Franklin Ltd. Precious Metals.