Sunday, August 14, 2022

Coin Demand of Little Relevance to the Gold Price

by Jan Nieuwenhuijs, Voima Gold:

Gold coin demand makes up a small part of total demand, and thus doesn’t have much impact on the gold price.

Demand for gold coins must be seen as a retail sentiment indicator. In the gold space, it is often assumed that whenever demand for gold coins rises and the premiums these coins attract escalate, the price of gold should sky-rocket accordingly. This is a false assumption, because gold coin demand accounts for less than 8% of total demand, and thus can’t possibly have a large impact on the gold price. At the heart of this misconception is a lack of knowledge between the gold retail and wholesale market. The price of gold is predominantly set in the wholesale market by institutional supply and demand. (For more information, please read my previous article “The Essence of Gold Supply and Demand Dynamics.”)

Oklahoma to Consider Holding Gold and Silver, Removing Income Taxes

by Jp Cortez, Money Metals:

(Oklahoma City, Oklahoma — January 20, 2022) – An Oklahoma state representative introduced legislation today that would enable the State Treasurer to protect Sooner State funds from inflation and financial risk by holding physical gold and silver.

Introduced by Rep. Sean Roberts, HB 3681 would include physical gold and silver, owned directly, to the list of permissible investments that the State Treasurer can hold. Currently, Oklahoma money managers are largely relegated to investing in low-yield, dollar-denominated debt instruments.

Other than Ohio, no state is currently known to hold any precious metals, even as inflation and financial turmoil accelerate globally. Yet Oklahoma’s own investment guidance prescribes safety of principal as a primary objective for investment of public funds.

COMMODITY PRICES INCREASES UPDATES ON DIESEL, LITHIUM/GRAINS ETC

by Harvey Organ, Harvey Organ Blog:

GOLD AND SILVER HAD A GOOD DAY WITH GOLD UP $15.75/AND SILVER UP 24 CENTS//GOLD STANDING AT THE COMEX FOR MARCH ADVANCES BY 1600 OZ AND THUS NEW STANDING 36.298 TONNES//SILVER FOR MARCH DELIVERY ADVANCES BY 110,000 OZ/NEW STANDING 52.690 MILLION OZ//RUSSIA VS UKRAINE UPDATES//COVID //MANDATES//VACCINE INJURY AND IMPACT UPDATES//COMMODITY PRICES INCREASES UPDATES ON DIESEL, LITHIUM/GRAINS ETC//EVERGRANDE UPDATE

How Much Gold Is There in the World?

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by Peter Schiff, Schiff Gold:

How much gold is there in the world?

The simple answer — not much!

Scarcity is one of the characteristics that give gold value.

Consider gravel. It’s everywhere. You walk over it and don’t even pause. But if you spot a gold nugget on the ground, you can take that to the bank — literally.

You’re probably vaguely aware that gold is scarce, but how little gold actually exists in the world might surprise you.

SILVER UP 6 CENTS TO $26.90

by Harvey Organ, Harvey Organ Blog:

ANOTHER STRONG UPSIDE DAY REVERSAL: GOLD UP $19.55 TO $1945.95//SILVER UP 6 CENTS TO $26.90//GOLD TONNAGE STANDING AT THE COMEX: 11.43 TONNES//TWO IMPORTANT READS: HUGO SALINAS PRICE AND MIKE WHITNEY//SWAMP STORIES FOR YOU TONIGHT

Harvey, Irma, Gold and Bad Options

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from goldstockbull:

In the Previous Three Weeks:

  • Gold rose over $1,330.
  • Silver reached $18.00.
  • The DOW almost reached another all-time high.
  • Hurricane Harvey slammed into the Texas coast, flooded Houston, and caused massive damage.
  • Hurricane Irma crashed into Florida and created flooding and huge damage, although a late move west reduced potential destruction.
  • China is preparing a crude oil contract that will allow oil exporters to sell their crude on a Chinese exchange and be paid in yuan, which can be sold on a Chinese exchange for gold. This could be very important for the gold market.
  • The Federal Reserve met and … yada yada yada.
  • North Korea and President Trump exchanged pleasantries in their great distraction game.

 

GOLD:

  • Year 1913: Price of gold:  $20.67 per oz. U.S. national debt $3 billion.
  • Year 2017: Price of gold:  $1,300 per oz. U.S. national debt $20 trillion.

Read More @ goldstockbull.com

Gold Has Value to bin Zayed at Least

by Steve Brown, The Duran:

Thanks to the fantasy of bitcoin, Wall Street dreams, and the ruling class’s constant propaganda war versus gold, the paper market for gold — as run by the CMELBMA, and BIS cartel — is now increasingly bearish. But demand is still high in the United Arab Emirates where a large proportion of illegally produced and smuggled gold finds a ready market. Long a hub for smuggled gold, the United Arab Emirates only recently pledged to curtail its illegal gold imports based on US regime action over Venezuela.