The bottom line is gold investment demand remains strong. Ever since the stock panic, American stock investors have continued shifting capital into GLD shares on balance. GLD’s holdings have long proven the best daily proxy for global gold investment demand. Investors are returning to gold with a vengeance after March’s stock panic violently reminded them that stock-market cycles still exist despite Fed money printing.
And that has gone ballistic since the stock panic, with the panicking Fed ramping dollar supplies by 2/3rds in a few months! This biggest and most-extreme monetary inflation in US history by far makes investing in gold more essential than ever. So gold investment demand is likely to remain strong in coming months, and soar as these lofty Fed-goosed stock markets roll over. That portends massive additional gold-stock gains. Full Story
By: Steve St. Angelo, SRSrocco Report - 11 June, 2020
The overwhelming majority of investors have no idea how undervalued silver is as an asset. With falling supply and surging physical investment demand in the future, we could see some crazy silver prices. Full Story
1. Need to keep the key interest rate near zero through at least 2022.
2. U.S. gross domestic product is expected to decline 6.5% this year.
3. Shutdowns, restrictions and other measures used to battle a health crisis will echo through the economy for years to come rather than be quickly reversed as commerce reopens.
4. The ongoing public health crisis will weigh heavily on economic activity, employment and inflation in the near term and poses considerable risks to the economic outlook over the medium term.
5. Much remains uncertain, particularly the progress of the pandemic, the fiscal and monetary response has been working well so far, maintaining income support for the unemployed and limiting business failures so far. More may be needed. Full Story
By: Dave Kranzler, Investement Research Dynamic's Mining Stock Journal - 10 June, 2020
The bullion banks – at least on the Comex – have reduced their risk exposure to gold and silver derivatives over the last several months, which means reducing their short exposure. This is likely in response to the rising risk that they will be unable to meet increasing long-side counterparty delivery demands. Full Story
The US Dollar index is not a true measure of value of the US dollar. It just tracks an “exchange rate” between the US dollar and a basket of significant fiat currencies.
For a true measure of value of the US dollar it is better to look to Gold and Silver. However, there is a relationship between significant Gold rallies and the US Dollar index. Full Story
The conclusion is that the correct tactics with respect to the Precious Metals sector are to either step aside, or hedge with either leveraged inverse ETFs such as DUST, or better still Puts in say GLD and GDX, or a combination of the two. The corrective pahse will probably be over by early August. Full Story
But, as I write this article today, I can see several paths the market may now take to get us to that 4000+ region. And, I view the price action we see in the month of June as providing us significant clarity regarding the path the market will take to 4000+ in the coming years.
For now, 3080SPX and 3000SPX are the main supports upon which I will be focusing to let us know how much of a pullback we will see (if any) before we begin the run to 4000+ in earnest. Full Story
The Brasher Doubloon, the very first gold coin made in the U.S., is being offered privately at a $15 million asking price, according to PCAG Inc. who is marketing the coin on behalf of a collector. The coin dates back to 1787 – 11 years after the Declaration of Independence was signed. Bloomberg notes that the coin was originally worth $15. It went on to sell for $625,000 in 1981, $2.99 million in 2005 and $7.4 million in 2011. Full Story
There will be short covering in gold if it rises today and till Thursday. In my view, most people are waiting to buy gold @1650. If gold prices manages to trade over $1700 till Thursday, then laggards will start to invest and gold price could be easily break past $1800. Full Story
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