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Operational Update May 2020

As national and international lock-down measures are eased and Covid-19 infection rates fall, the precious metals supply chains are once again beginning to stir into life.

We are now seeing improved delivery services and receiving stock that has been frozen in the system for some time.

As producers begin their efforts to resume production there are and will continue to be delays compared to the 'normal' supply chains of the past.

Our staff members have been working flat out to clear the huge backlog of orders, primarily caused by disruption to our delivery systems, and we can now see some light at the end of that tunnel.

New orders are generally being dispatched within 5 working days of receipt.

In order to keep the build-up of orders at a manageable level we were forced to impose a minimum order value of £1,000. That limit has now been reduced to £350 with immediate effect. We apologise for any inconvenience that this measure is causing and can assure customers that the limit will be removed as soon as possible.

We saw some eye-watering increases in premiums at the peak of recent demand but the worst of these are beginning to subside, particularly in respect of larger gold and silver bars, which allows us to begin to reduce margins. As this situation develops there will be apparent price discrepancies by brand but these will provide buying opportunities for customers looking for a bargain!

Clients wishing to sell items can once again send in to us by Royal Mail insured Special Delivery and we hope to announce the resumption of appointments at our offices in the near future for larger transactions.

A sincere ‘Thank You’ for the patience and understanding shown during this difficult time and for the many messages of encouragement and good wishes that we have received from customers.

Article Last Updated: Thursday, May 21, 2020