from The Jimmy Dore Show:
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What Is Bank of England Doing in the Gold Market, and Why? Press Again Fails to Ask
by Chris Powell, Gold Seek:
Imagine that you had more than an hour to question the governor of the Bank of England and several of his top assistants in the middle of great turmoil in the London gold market. Would you be prepared with a few critical and even inconvenient questions?
Such an opportunity presented itself on Thursday as bank officials held a press conference to announce the latest decision of the bank’s Monetary Policy Committee about interest rates. Many journalists from major financial news organizations were in the auditorium but only one, a reporter from Central Banking magazine, asked a question about gold, and only about how much gold lately had left the bank’s vault. She was told that gold bars vaulted at the bank were down about 2% since last year and that the bank’s storage clients were facing substantial delays in getting hold of their metal because it’s heavy and moving it is cumbersome.
Thursday Conversation – David Jensen
by David Jensen, TFMetalsReport:
Few people on earth understand the precious metals markets as well as David Jensen. As such, with all of the current physical stresses we are seeing in gold and silver pricing scheme, I thought it would be a great idea to have David in as this week’s podcast guest.
And those stresses are myriad and seeming to expand by the day. While the past two days have seen some contraction in the spot-futures spreads, other signals such as lease rates and ETF borrowing costs are surging. What does it all mean and does it imply that the pricing scheme is teetering? Well, David is here to offer his opinion.
ABOUT THAT GOLD MOVEMENT: CAN YOU SAY “FRAUDULENT …
by Joseph P. Farrell, Giza Death Star:
Something is going on with gold in recent weeks and days, and you may not have noticed with all the focus on the mid-air collision at Reagan National Airport, and to my rank amateur’s mind, not enough dots are being connected to interpret it. The bottom line is, there is a massive move of gold into the United States. The question is, why? Here are three stories, and each has its own answer (our thanks to S.D., B,.H, and V.T., for these articles):
Metal Lease Rates Blowing-Out In London & NY – Physical Demand Is Lifting The Veil On Extreme London Gold & Silver Leverage
by David Jensen, Jensen’s Economic, Precious Metals, & Markets Newsletter:
The UK’s BullionVault, partially owned by RIT Capital Partners which is an investment arm of the Rothschild family, reports the following rates to lease physical gold and silver in London on Monday February 3, 2025:
Gold : 4.5% for a 1 month lease
Silver: 6.5% for a 1 month lease
In the article, Bruce Ikemizu of the Japanese Bullion Market Association says of the silver lease rate “6.5% for silver is almost at a level that could be called a squeeze”.
Is Someone Attacking the Comex? January Sees $5.2B in Gold Deliveries
by Peter Schiff, Schiff Gold:
The CME Comex is the Exchange where futures are traded for gold, silver, and other commodities. The CME also allows futures buyers to turn their contracts into physical metal through delivery. You can find more detail on the CME here (e.g., vault types, major/minor months, delivery explanation, historical data, etc.).
The data below looks at contract delivery where the ownership of physical metal changes hands within CME vaults. It also shows data that details the movement of metal in and out of CME vaults. It is very possible that if there is a run on the dollar, and a flight into gold, this is the data that will show early warning signs.
Silver Short Squeeze Coming?
by Richard Mills, Ahead Of The Herd:
Gold’s rally, which started in mid-February, has been underpinned by increased geopolitical risks, the upcoming US election, central bank buying, and slowing ETF sales. It last traded at $2,744 an ounce, up 37% so far in 2024.
But silver has done even better, notching a YTD gain of 46%. Spot silver is now worth $33.67, as of Monday, 20:30 New York time. Last Tuesday it hit $34, the highest level since 2012.
The Silver Squeeze Has Officially Begun
by Jesse Colombo, Silver Seek:
For the past several weeks, I’ve been writing about an imminent silver breakout that could quickly push prices to $50. During this time, I’ve observed significant investor cynicism, as many grew frustrated with silver’s sideways movement over the last five months.
I encouraged investors to remain confident, as I believed silver was on the brink of a historic bull market. Sure enough, on Friday, what began as a typical day saw silver surge nearly 7%, meeting the criteria I had outlined to confirm the next phase of its bull market.
