Spot gold getting higher than comex gold futures. Silver is still in bullish zone. Covid is spreading in nations which have opened after lockdown. Gold and silver are soft just due to vaccine hopes and nothing else. Rest of the factors are all bullish. Gold investment demand from ETF and others will not fall significantly unless there are other safe options. Federal Reserve meeting on 29th July is the next big event. Traders will start taking positions for FOMC meet. Full Story
The market will always from time-to-time remind us that nothing goes straight up in the stock market. The mining stocks, especially the riskiest juniors, have had huge run since mid-March. The HGNSI (Hulbert Gold Newsletter Sentiment Index) has been a remarkably reliable contrarian signal for mining stocks over the years. Sell/take profits when it moves above 60 and buy with both hands when it goes below 20.
Professional silver traders are keeping a CLOSE-EYE on the $21 level. While $18.50 was an important milestone to breakthrough, the $21 price target is a MAJOR LEVEL for silver. Once silver closes firmly above $21 on a monthly basis, we are in a NEW BULL MARKET for the shiny metal.
Investors better start considering protecting some of their wealth in physical Gold & Silver. Full Story
Gold will break free from the recent consolidation phase and form a new range. Silver is bullish. Copper and crude oil are in a neutral zone to bullish zone. Better to remain on the sidelines today. A weaker US dollar will ensure that all metals rise before close. Full Story
By: Stewart Thomson, Graceland Updates - 14 July, 2020
The big question about America is how much more money the Fed can print while the government runs a program of borrowing money to infinity… before hyperinflation turns the fading empire into a fire pit.
The debt-themed empire is in tatters already, but it has yet to become an inferno. The world watches aghast, as Americans blow each other away on the streets and the government loses yet another war (this time Corona).
The big caveat is that if the Fed keeps the stock market levitated and races to the rescue after each crash, the US empire train somehow doesn’t completely derail. Full Story
Here is what to look for on the gold breakout. Bullion banks are stuck in a large short position, they have covered some but have a significant problem. After multiple attempts, gold has broken out of this sideways/box. A break above $1,800 doesn't hold a lot of resistance, but holds the potential to be a false breakout:
The fall in silver and gold is just profit taking and should be used to go long or invest. Crude oil should crash (on demand fundamentals) but is not even correcting. New investors of precious metals and industrial metals are waiting for correction to invest. Full Story
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com - 13 July, 2020
Major news in mining this week was the large number of announced and completed equity financing's. Eric Sprott was involved in many of these. Gold and silver had another strong week but a consolidation period can happen at any time. It isn’t uncommon see retrenchments of 15-25% [in the mining equities], which could happen tomorrow or several months down the line but it will happen. Time will tell. Gold and Silver have massive tailwinds and there are countless potential catalysts in the second half of this year alone.
The SPDR Gold Shares ETF has seen 15 straight weeks of inflows, the longest streak since its debut in 2004, boosting assets to $68 billion, according to data compiled by Bloomberg. Investors continue to get on the yellow metal on speculation that yields will stay low for years, increasing the appeal for assets that don’t pay interest. Holdings in all gold-backed ETFs rose to 3,234.6 tons on Tuesday, which includes 655.6 tons so far this year, and is more than the total added in 2009. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 13 July, 2020
We have the same bullish indicators for silver as for gold, in terms of safe-haven demand inciting investors to park their money in silver bullion, silver ETFs or silver mining stocks, and the fact that silver is not subject to inflation like paper currencies.
Its hundreds of industrial applications make silver very responsive to the condition of the global economy. Improved economic conditions resulting from countries successfully reopening from coronavirus lockdowns, would be great for silver explorers, and their investors, who know the best leverage against rising metals prices is to own an early-stage junior with a sizeable and scalable deposit in a mining-friendly jurisdiction. Full Story
There was a small withdrawal from GLD yesterday, as an authorized participant removed 11,591 troy ounces. But there was another pretty hefty deposit into SLV yesterday, as an a.p. added 4,843,904 troy ounces. The new short reports came out for SLV and GLD yesterday. The short position in SLV rose from 16.61 million shares/troy ounces, up to 17.47 million shares/troy ounces...an increase of only 5.17 percent, which is basically nothing at all. The short position GLD fell from 1,090,000… Full Story
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