Saturday, July 27, 2024

Why Are Central Banks Buying Gold?

by Martin Armstrong, Armstrong Economics:

Investors’ curiosity has peaked as central banks are increasing their gold purchases. We are not going back to a Bretton Woods type situation and that is not the issue. You must understand that gold is neutral. Central banks are buying gold because the Neocons have weaponized the dollar.

Russia was removed from the SWIFT system, and private citizens’ assets were confiscated. When Russian assets were removed from SWIFT, a threat to the world was issued to say, “Hey, if you don’t do what we tell you to do, we will take you out of SWIFT.”

“Green Economy” Expected to Boost Silver Demand and Other Silver News

by Peter Schiff, Schiff Gold:

Silver is expected to play a significant role as the “green economy” evolves. The Silver Institute recently participated in a panel discussion titled “Silver’s Role in the Green Economy” at the London Bullion Market Association’s Global Precious Metals Conference in Barcelona, Spain.

This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.

Silver Institute Chairman Phillips Baker emphasized that silver is a vital component in solar panel production and demand is expected to increase significantly in the coming years. While there are efforts to replace silver with less expensive substitutes, Silver Institute technical director Trevor Keel said that silver remains the critical ingredient in making solar panels functional, and it will remain so for quite some time.

LT w/ Dr. Elliott: Dutch Central Bank prepares for Gold Standard, Metals win. Pray!

from And We Know:

TRUTH LIVES on at https://sgtreport.tv/

GoldSeek Radio Nugget — Alasdair MaCleod:

from GoldSeek Radio:

TRUTH LIVES on at https://sgtreport.tv/

UKRAINE VS RUSSIA: UKRAINIAN DRONES HAS A DIRECT HIT ON ROSTOV MILITARY COMPLEX/

by Harvey Organ, Harvey Organ Blog:

GOLD CLOSED DOWN 20 CENTS TO $1918.80//SILVER CLOSED DOWN 21 CENTS TO $22.97//PLATINUM CLOSED DOWN $4.30 TO $909.85 BUT PALLADIUM REVERSED COURSE TO CLOSE UP $3.35 TO $1,218.00//IMPORTANT READS FOR TODAY: TED BUTLER ON SILVER//CHINA BROADENS APPLE’S I-PHONE BAN AS THE TRADE WAR ESCALATES//UKRAINE VS RUSSIA: UKRAINIAN DRONES HAS A DIRECT HIT ON ROSTOV MILITARY COMPLEX//COVID UPDATES/VACCINE UPDATES/DR PAUL ALEXANDER//SLAY NEWS/NEWS ADDICTS/EVOL NEWS

Mathematically, Financial System Is Going Down – Bill Holter

by Greg Hunter, USA Watchdog:

Precious metals expert and financial writer Bill Holter warned in August of financial trouble coming to America sooner than later.  He gave a long list that now includes a global war. Even without war, there is no stopping the financial fall that is coming. Central banks are, once again, the biggest buyers of gold this year. What is going on? Holter says, “The central banks fully understand the math behind the financial system of the West is broken.  The Western financial system cannot survive the math. . . .Once we got to 0% interest rates on the bottom, the rates could not go down any further, and the debt continued to pile up. The U.S. Treasury is going to be paying $1.5 trillion a year just in debt service. That number, a few years ago, had been around $400 billion a year. So, the debt service has quadrupled, and there are no more tricks in the bag.

Central Bank Gold Buying Off To A Record-Breaking Start In 2023, Led By Singapore

from ZeroHedge:

It may not be the off the charts gold buying observed in the second half of 2022, but central bank Central bank gold buying made a blistering start to 2023 when according to the latest report from the World Gold Council, demand for the hard currency by the world’s money-printing authorities reached 228 tonnes in Q1, a 176% increase compared to the 82.7 tonnes one year ago. While lower than the figures seen in the previous two quarters this was nonetheless the strongest first quarter on record. According to the WGC, “this is all the more impressive considering it follows the record-breaking pace of demand last year.”

Gold Contracts for Immediate Delivery Explode Higher

by Peter Schiff, Schiff Gold:

In 5 days, the COMEX has seen 4,190 contracts open and stand for immediate delivery. This is the strongest start to a month going back at least 2 years, which includes the start of the war in Ukraine and the February 2021 Reddit silver squeeze.

In the latest Comex update, I mentioned that:

Gold has started a bit slow. This shouldn’t be a surprise though as the game in gold continues to be net new contracts.

As the chart below shows, total delivery volume remains a bit below the trend. However, the delivery month just got started.

COMEX Gold JOLTed Again

by Craig Hemke, Sprott Money:

Last month, we wrote about how employment is usually the ultimate lagging indicator of recession, and when the JOLTS jobs report was issued on April 4, the slowdown in hiring “jolted” gold prices higher. The latest report is having the same impact.

As we often do in these weekly columns, let’s begin this one with a reference to that last time we covered this topic. Here’s a link to the article of four weeks ago along with a snippet of the first three paragraphs:

Halftime 2023

by Craig Hemke, Sprott Money:

We’re not quite through the first half of 2023, but just for fun, let’s take a stab at what we might expect to occur in the second half, at least as it pertains to gold and silver prices.

It’s early June, and the next FOMC meeting is one week away. Will the Fed hike the fed funds rate another 25 basis points or will they pause and take time to assess the economic damage that has already been done? We can’t know the answer to that question, but whether they do or whether they don’t, the forecast for the remainder of 2023 will remain the same.

GOLD CLOSED DOWN ONLY BY $1.30 AFTER A RAID ORCHESTRATED BY OUR BANKERS AS OPTIONS EXPIRY WEEK BEGINS

by Harvey Organ, Harvey Organ Blog:

GOLD CLOSED DOWN ONLY BY $1.30 AFTER A RAID ORCHESTRATED BY OUR BANKERS AS OPTIONS EXPIRY WEEK BEGINS//SILVER CLOSED DOWN ONLY 8 CENTS TO $22.96//PLATINUM CLOSED DOWN $11.55 TO $888.70//PALLADIUM WAS DOWN $6.40 TO $1126,85//ESSENTIAL READING MATERIAL TODAY: DR LACALLE AND ESPECIALLY CONRAD BLACK//UPDATES ON ISRAEL VS HAMAS//COVID UPDATES// VACCINE INJURIES