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« Silver, Gold and the HUI Index: Bottomed? | Main | Silver Wheaton Corporation: Contractual Position Explained! »

Precious Metals in Europe

In this mornings mailbag we have an update of David Morgan’s recent trip to Europe, which we hope that you find both interesting and informative.

November 28, 2008

During my recent trip to Europe we visited four main cities: London, Paris, Zurich, and Munich. My impression of each location varied, in relation to the current global economic climate and how the precious metals are behaving.


My first stop was Paris, and for me it is difficult to determine just how open-mindedly the two meetings were received. Some of the participants did stay after the general meeting to ask specifics about areas of precious metals and mining that I might be able to offer. My overall impression was that the French mainly have a wait and see attitude at this time regarding how well the precious metals will do over the next several months. Some of the feedback I received was that many junior mining companies are finished and those that might be able to make it would not see share price recovery for a year or so.


The next location was London, and Nick Williams and his wife, Fran, did their usual outstanding job. See

A few investor comments will give you some impression of the Silver Summit U.K.

“Really good day at Silver Summit. Useful to hear from juniors, the speakers & great Q&A.”
Helena Pike, Investor

“Just a quick thank you for the day on Wednesday, I thoroughly enjoyed the event.”
Robert Weaver, Investor

“Thank you for a wonderful event and I look forward to the next happening!” Tobias Andreasson, Investor

Now for a look at some of the presentations . . .

First, my friend and colleague Mr. Ned Naylor-Leyland’s "Silver, Bailouts & Big Government"; see

In my presentation, I gave my overview of the silver market and had a few comments at the end of it; see


After the London show I moved on to Zurich, where I met with some very impressive fund managers and a couple of banks. I will reserve comment on this for our members only, but suffice it to say the people “in the know” in Switzerland have not been moved to give up on the precious metals.


Finally, the last leg of the trip was to Munich, Germany, and here I had some very interesting insights. Basically, the Germans at this show had one thing in mind—BUY MORE REAL METAL!

DM pic 1

A crowd gathers to BUY, BUY, BUY precious metals. Yes, there was a premium, and these folks were happy to pay to have the real deal.

Looking further . . .

dm pic 2

How much is that silver in the window?

Finally, for our Canadian friends:

DM pic 3

You most likely can make out this large Canadian Maple Leaf.

The mining companies at the Munich show did get good traffic, and most investors had not given up on their conviction that the precious metals arena is certainly going through a slump but longer term could prove to be one of the best places for wealth preservation and/or capital gains.

The trip was exciting and exhausting at the same time. The overall attendance was down slightly in London and about the same in Paris and Munich. I did not meet in the public arena in Zurich, only private meetings.

Hopefully, this will give you a brief taste of what took place at this year’s European tour.

Beginning now until the end of December 2008 (December 31, 2008) you can have full access to The Morgan Report for absolutely Free! You will be able to log into the Members Only section previously reserved for our paid members only.

Sign up here now for Free:

It is an honor to be,

David Morgan

Mr. Morgan has followed the silver market daily for more than thirty years. Much of his Web site,, is devoted to education about the precious metals.

Got a comment – then let us have it!
If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, please click on the links.

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Reader Comments (10)

Precious metals will crash on tuesday Dec 2. Gold to 750 and silver to 9.20

November 28, 2008 | Unregistered CommenterDi

Thanks for this input. I did not get to this gathering but would have liked to be there.

Did any of the subscrbers to this newsletter attend. If so, it would be interesting to get another first hand report.


November 28, 2008 | Unregistered CommenterJohn Ell

Di, Any reasoning behind your predictions that you would like to share with us?

November 28, 2008 | Unregistered CommenterSilver Prices

I was in Munich too... a great show... there were two big dealers, for me the best one with the most gold and silver was the booth of , this big white booth. I asked them for Krugerrands, Maples, Nuggets, Philharmonics, nothing was a problem for the friendly staff. Meanwhile I ordered 300 gold ounces from them, 4 days after payment I received the parcel. This was very fast. It seems that they have a very huge stock. There was a guy who said to me: They have always stock, it´s only a matter of the price.

November 28, 2008 | Unregistered CommenterSilver_Guru

absurd gold and silver to crash soon! look at the HUGE deficits of most if not all of the major countries of the world have right now......with them all having to bail themselves out by printing more money SMART investors know this world wide event will only lead to devaluing of the worlds currency which will lead them all to buy gold to protect their financial stability ! why do you think the usa govt has some of the HIGHEST gold reserves of all of the countries of the world ??? look at most of the gold stocks now....PEOPLE ARE BUYING ! THEY KNOW THIS ! you are in denial if you think of a crash of gold or you havent been in the market long enough....learn from someone who has lost enough to you dont make the same mistakes....or would you rather learn the hard way like most people do -myself included in the and learn my friend..............

November 28, 2008 | Unregistered Commenterwil

besides the silver stocks covered on this site that i have bought that are on major usa exchanges and canadian [exk,hl,paas,slw and ssri which all doing well now and are now off of their 52 week except for exk endeavour silver which i still have hope for i also recommend mag silver which has hit HIGH GRADE SILVER and is off their 52 week low and it trades on both the toronto exchange-safer than the vancouver exchange which mostly contains companies that arent as advanced in their projects like the ones on the toronto exchange ones AND it trades on the amex usa exchange which contains more stocks that have to meet certain criteria... more than those that are on the pink sheet and over the counter only and learn--live and learn my friend..............

November 28, 2008 | Unregistered Commenterwil

It sounds like they have a lot of stock, so how much over spot do they price the coins.
Also, if you don't mind sharing the information, what assurances did you have on delivery after you paid for the order. I don't know if you ever did business with the company before.

November 29, 2008 | Unregistered CommenterJohn Ell

Hi John,
I just saw your post!
I already bought some coins from and was very pleased with the service.
Although investing our money can be tricky and sometimes we have the first reaction of not trusting a company, in this case you have nothing to worry about...
I found the service very profissional. As soon as they receive your payment they inform you immediately and ship your order very soon. I received my order in very good conditions and very quick.
Also I have experienced their costumer care service and I can tell you they are very profissional...I guess this is the nice staff Silver_Guru was describing when describing their booth at the Munich Fair!

December 1, 2008 | Unregistered CommenterGold_Lover

There seems to be a disparity between the price of physical silver and futures contract prices? Some have argued that buying silver futures and holding the contract until delivery means you would get physical silver at a discount. What do you think?

December 1, 2008 | Unregistered CommenterElena Morozova

Di, Can you give us some backing on your statement?

The "crash" you mentioned, will only be a minor 'slip' in my opinion, considering gold rise of ~$80 dollars in one day recently. I'm not surprised.

Please share us your thoughts.


December 1, 2008 | Unregistered Commenterde Graaf

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