Silver: Focus On Resilience

Resilience is the capacity to recover quickly from difficulties. In other words, toughness. Looking back over the last year, the world has experienced and displayed such toughness. Unfortunately, this isn’t over yet. Maybe it’s just the beginning, and there is more to come? We believe preparation is the wisest course of action, but that begins with a plan.

Silver’s price faces the same strain. It is essential to stay focused on the prime fundamentals and the clear, long-term case for the shiny metal. Numbers for demand are overwhelmingly positive, and the strong news coverage doesn’t justify the temporary price dip. We firmly believe this to be another rare opportunity to add to one’s physical holdings of silver.

The four cornerstones of resilience are:

  1. You. Take care of yourself first. A year of the pandemic took a toll. Make sure you are balanced.
  2. People. We all went through this. As a result, people are worn out, making more mistakes, and have changed. Don’t take your loved ones for granted. They are your backbone. Accept that people essential to your business might not be as reliable as they used to be. Reevaluate partnerships and supply chains and have a watchful eye where your business is vulnerable. This is especially important if you trade with other people’s money.
  3. Technology. With supply chains banged up, it is wise to have backup systems in place and not expect smooth operations in case of extraordinary circumstances. Have necessary parts stockpiled and be self-dependent.
  4. Operations. Check your operations for their processes, people, and technology. Think risk control over efficiency. Form KYC to regulatory changes and increased fraud; this isn’t the time to streamline and maximize. Instead, set up systems to monitor compliance, strengthen your partnerships and supply chain reliance.
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Disclaimer: All published information represents the opinion and analysis of Mr Florian Grummes & his partners, based on data available to him, at the time of writing. Mr. Grummes’s ...

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