Dear TPM clients,
The market dynamics are changing rapidly, and the physical inventory situation industry-wide has worsened considerably since my message yesterday. I want to remind each of you that we will only sell products that we have in stock. We will not forward sell demand and ship after long delays. The future supply chain is uncertain at this point and we can only guarantee what we have in stock. Therefore, I need to apprise you of two important announcements.
First, going into this weekend, we will offer only a limited inventory for sale, both in terms of product selection and volume. The primary cause is future market volatility. We hedge all of our inventory to protect against price fluctuations, and it is difficult to handicap news events that will create significant changes to spot metals prices at market open. It is entirely conceivable all products may be out of stock by Sunday. We will add inventory back on the website for ordering beginning late Sunday and early Monday when the market resumes trading.
Second, we are temporarily halting a special type of order known as a limit order, which is a commitment to buy or sell a product at a future price level. Since we cannot guarantee certain inventory will be available in the future, we are temporarily unable to guarantee inventory to cover limit order requests from our clients when they execute.
Therefore, at this time we will be cancelling all pending limit orders in our system, and we will not be accepting any new limit orders until further notice. This will not affect live market orders on available, in stock inventory.
We apologize for any inconvenience this may cause, and we hope to have this option available to our clients again very soon.
If you have already received a sales order confirmation with a note saying "LIMIT ORDER FILLED" then your order is still valid, and we have the product available to fill it.
As always, we thank you for choosing Texas Precious Metals, and we are doing all that we can (on a very little sleep) to take care of each and every one of you.
We will continue to communicate as new information become available.