By: Keith Weiner, Monetary Metals - 26 March, 2020
As an aside, this snippet contains several errors. One, as we explained, “The price of small bars and coins, which are retail products, can vary considerably from the price of gold in the spot market. This is because manufacturing capacity, especially for minted bars and coins, is finite. Mints are reluctant to buy expensive machines (with debt financing, of course) to expand capacity for a boom that they know from prior experience can be fleeting.” Full Story
There is an old saying in Hindi “Jab tak hai sona roona kaabhi nahi roona”. This is means that if you and your family own lots and lots physical gold (sona), they will never face any financial hardship in life.
Forget the dash for cash. It is now the dash for physical gold. It is the dash for physical silver. You cannot buy gold. You can buy physical silver. Indians can buy silver July futures. Invest in silver mini lots. Full Story
In recent days the Fed has made it plain that it is prepared TO BUY ANYTHING AND EVERYTHING to prevent imminent total collapse, and you don’t have to join many dots to see that this will extend to BUYING STOCKS, and it’s not that hard for them – all they have to do is enter a few keystrokes, add a few 0s and it’s sorted – and as Gregory Mammarino repeatedly points out, the more debt they issue the more powerful they become.
Right now sentiment is “end of the world” negative, and any positive development will be enough to trigger a gargantuan self-feeding short covering rally and gold’s huge recovery is a sign that this may be about to start. Full Story
Why is there such a huge gap between spot price and future price in gold/silver?
1. Mines are closed or closing. There will be no new supplies.
2. Global lockdown is preventing physical gold and silver to be transferred from one nation to another.
3. Lack of alternate safe investment avenue and availability of free money to fund managers and large corporates has resulted in short term hot money moving into gold, silver, palladium and other metals.
4. European and Americans are buying physical gold. Till 2019, Europeans and Americans mainly invested in gold futures and gold ETF.
5. Lack of physical demand from Asia (due to closure) is being more than made up from demand from Europe and USA. Full Story
By: Stewart Thomson, Graceland Updates - 24 March, 2020
The Fed promises to print about $100billion a day this week, not for hospital beds, hazmat suits, medicine, or food deliveries for the sick and elderly… but to buy a candy jar full of assorted financial markets trinkets!
In days past (long past), Americans would have rioted on this outrageous news. They may have dragged members of congress and the Fed into the street and killed them. Today, they just stand there and do nothing, while they are decimated by the invading Corona army. This is the biggest sign yet (in a long line of such signs) that the American empire is doomed. Full Story
The best performing metal this week was gold, down just 2.04 percent. BullionStar, a bullion dealer in Singapore, has seen a record number of orders, order revenue and number of visitors to its center over the past month, according to a post on its website and as reported by Bloomberg. “We have managed to replenish a bit of gold on Saturday but it’s very difficult to find any supply anywhere.” A lack of physical gold supply is positive new for buying and a sign that demand is strong. Bloomberg’s Andrew Cinko writes that gold has a love/hate relationship with equity bear markets. At first, havens such as gold are a good bid, but then they are sold to raise cash. This is what happened this week, with investors selling gold to raise cash. Gold traders are also selling out of their futures contracts, which are dragging on gold’s price. Margin calls hit hedge funds on derivative trades and their traders are forced to sell and pony up cash with gold being liquid. Full Story
Depression Odds Grave uncertainties remain concerning how much wider and deeper the virus will spread, and how long the U.S. economy will remain in a state of seizure. Under the circumstances, it seems unlikely the bear market has seen its worst. Short squeeze rallies, some of them powerful enough to persuasive the rubes and their financial advisers, will persist nevertheless, abetted by smart money that will know exactly when to get out of the way. Full Story
I think the next few weeks will be very important to our making determinations about the long-term implications of this decline. As it stands now, this decline is exactly what I had expected to happen, but there is no question I thought it would have been something we experienced last year. But, that really does not suggest that my longer term perspective should be adjusted. And, until I see evidence to the contrary, I am going to be looking for bottoming signals in the coming weeks, followed by more bullish signals supporting the potential for this market to set up a multi-year rally to 4000+. So, the next few weeks are going to be of utmost importance as to how the next 3 years will take shape for the equity markets. Full Story
Major Indian cities are under virtual lockdown. Stay at home. Stay safe. Increase your patience levels. Gold demand in India will be only under ETF or in electronic form. To the Indians and other nations which have a lock down, Buy far dated gold futures and far silver futures (assuming that your are physical gold/silver) on big crashes. Since you will not be able to buy physical gold and physical silver. Full Story
Everything changed on February 19th. It was China's problem before then, the market didn't care, why care about gold?
Then the switched flipped and things changed. Gold remains in an uptrend, the monthly chart showing strong support around $1,458 and below at $1,400 area with resistance around $1635..
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