Craig

🚨 🚨 THIS IS HUGE 🚨 🚨 Elemetal and Metalor have both paused purchases of SCRAP GOLD and they are no longer allowing locks for dealers! 🔔 Metalor is one of the largest refiners in America and they’ve temporarily paused buying Gold! ‼️ First it was scrap silver, now scrap Gold! Basically, the refiners can’t keep up with record retail selling and have exhausted their credit limits. They have billions of dollars sitting on a shelf waiting to be refined and they can’t keep up! Dealers will now have their funds in a pool account and then have to wait two weeks to get paid! ‼️ “This is going to have tremendous ripple effects in our industry. Putting a pause on buying non-pure silver is one thing, but if none of the refiners are taking scrap gold, our industry is going to come to a screeching halt.” - Longtime LCS Owner speaking on the condition of anonymity. We are officially in uncharted territory and cashflow is king for dealers. This has the potential to affect the entire market. Below is the email Elemetals sent to dealers.