Thursday, October 17, 2019

Central Bank Gold-Buying Ramps Up Again

by Peter Schiff, Schiff Gold:

The central bank gold-buying spree shows no signs of letting up. In fact, it ramped up again in August after ebbing slightly in July, according to the latest data released by the World Gold Council.

After a relatively modest net increase of 13.9 tons in July, central banks globally took in a net 57.3 tons of gold in August.

Gold purchases of a ton or greater amounted to 62.1 tons. Gross sales came in at 4.8 tons.

The World Gold Council bases its data on information submitted to the International Monetary Fund.

‘Dollar Doomsday’: Gold, Rouble, and Yuan Could All Benefit From Falling Greenback – Risk Analyst

from Sputnik News:

In the changing global economic environment US stocks and the dollar no longer seem to be a safe haven for long-term investing, some financial experts say, describing a looming “doomsday dollar” scenario. Independent political risk analyst Eric Kraus has eyed up the gloomy prognosis and the ways to survive the perfect storm.

On 29 September, The Financial Times published an op-ed by US economist and author Rana Foroohar, eloquently titled “Are investors ready for the ‘Doomsday Dollar’ scenario?”

Silver’s Short-Term Charts Indicate Long-Term Bull Trend Moves

from Silver Doctors:

For most of 2019, the emerging trends in the precious metals space have been undeniably strong…

by Richard Cox via Platinum Guild

For most of 2019, the emerging trends in the precious metals space have been undeniably strong. Many analysist (possibly a majority of the financial analyst community) seemed to think that these types of events were impossible, given the fact that the S&P 500 was on a clear course to continue posting record highs.

IN AN ILLUSORY WORLD – GOLD IS THE TRUTH-TELLER

by Egon Von Greyerz, Gold Switzerland:

There will in the next couple of years be a real Eureka moment in markets. But it is unlikely to be of the same satisfactory nature as in the case of Archimedes. The Greek mathematician and scientist reportedly said “Eureka, Eureka” (I found it) when he discovered that the volume of water displaced in his bath was equal to his body’s volume.

Interestingly, Archimedes applied this principle to assess the gold content of the crown of King Hiero of Syracuse. A goldsmith had tried to cheat the king by replacing the gold in the crown with the same weight of silver. But since gold has twice the density of silver and therefore weighs considerably more for the same volume, the goldsmith’s deceit was revealed. More about the coming Eureka moment in markets later.

Demand for Gold ETFs Surge as Quantitative “Not” Easing Returns – Nathan McDonald (11/10/2019)

by Nathan McDonald, Sprott Money:

The Federal Reserve has cut interest rates twice this year in an attempt to spur the economy and keep the good times rolling.

Despite this fact, the markets are not happy. They have demanded more, and as it now appears, they will get exactly what they wished for.

The odds of an additional rate cut occurring within 2019 have surged higher, as market analysts overwhelmingly predict another cut soon.

The reason for this is that the Federal Reserve has proven they will not let the free market regulate itself, as seen in their recent intervention in the short-term lending markets throughout the month of September.

Thursday Conversation – Willem Middelkoop

by Turd Ferguson, TF Metals Report:

Our old friend Willem Middelkoop is a commodity fund manager, geo-political analyst and best-selling author. With all that’s going on in the world, we were definitely overdue for this conversation.

As with all Thursday Conversations, I asked Will to focus on three primary topics:

  • The US$ liquidity issues and the impact of the surging US debt
  • De-dollarization and the likelihood of a new “Plaza Accord” and/or gold revaluation
  • The historic undervaluation of precious metals and commodities and how a shift in global asset allocation would impact his fund and its investments

Click HERE to listen

BIG RAID IN GOLD AND SILVER TODAY

by Harvey Organ, Harvey Organ Blog:

BIG RAID IN GOLD AND SILVER TODAY//GOLD DOWN $10.00 TO $1497.90//SILVER DOWN 22 CENTS TO $17.56//QUEUE JUMPING FOR BOTH GOLD AND SILVER AT THE COMEX..STRANGE!! DESPITE THE LOSS IN PRICE A HUGE 1.443 MILLION OZ ADDITION TO THE SLV…//ALL COMEX DATA COMPLETE//ALL MORNING, AFTERNOON AND EVENING DATA COMPLETE//MAJOR STORIES PROVIDED FOR YOU TONIGHT

Fed Balance Sheet Expansion, Unicorns, Unintended Consequences and Gold

by Dave Kranzler, Investment Research Dynamics:

The Bank for International Settlements (BIS) – the Central Bank of Central Banks – released two reports on “unconventional policy tools” – e.g. QE/money printing and interest rate suppression. It concluded that the extreme Central Bank interference since 2008 has had a negative impact on the way in which financial markets function.

While Jerome Powell and his “Gang That Couldn’t Shoot Straight” at the Fed prefer to use the term “balance sheet growth” in reference to money printing, the big-thinkers at the BIS call it UMPT (Unconventional Monetary Policy Tools).”

Gaddafi’s pan-African gold-backed Payment System

by Alex Christoforou, The Duran:

A fine RT interview with Moussa Ibrahim, Gaddafi’s ex-spokesperson. While pointing out the role of NATO and mainstream media in Libya’s destruction, Ibrahim accepts and explains the blind spots / failures in Gaddafi’s rule. Three things he mentions: that they failed to shift away [diversify] from the oil-export economic model, that they didn’t seek an alliance with Russia and China, that their political process wasn’t inclusive enough. Ibrahim also talks about the good things Gaddafi’s rule achieved, in the larger context of African struggle for liberation and economic independence. Gaddafi was hoping to accumulate 4 thousand tons of gold [as reserves] for his pan-national project of an African Central Bank alongside the creation of an African currency.

ETF Gold Holdings Hit All-Time Record High

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by Peter Schiff, Schiff Gold:

ETF gold holding reached all-time highs in September.

Globally, gold-backed ETFs added 75.2 tons of metal to their holdings last month, according to the most recent data released by the World Gold Council. That brought total gold holdings to 2,808 tons, eclipsing the previous record set back in 2012 when the price of gold was near $1,700 per ounce.

Global ETF gold holdings have grown by 368 tons on the year, a 13.4% increase.

Funds in every region saw inflows of gold in September.

UBS Boosts 2020 Gold Forecast Even Higher

from Birch Gold Group:

This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Swiss bank sees gold prices jumping to $1,720 in 2020, strategist says gold prices could soar to $2,000 next year, and 5 reasons why owning gold is good strategy.

UBS ups its forecast again, expects gold to reach $1,720 next year

In August, the conservative Swiss bank UBS raised its gold forecast for 2020 to $1,680. Less than two months later, the analysts have once again upped their forecast for the metal, this time citing $1,730 as the level to reach next year. In their report, the analysts cited the emergence of various factors that are highly beneficial for gold, both in the short- and long-term.