from The Market Sniper:
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ANOTHER NFL FOOTBALL PLAYER COLLAPSES ON THE FIELD AND THAT SUSPENDS THE PRE-SEASON GAME
by Harvey Organ, Harvey Organ Blog:
BRICS MEETING STARTS TOMORROW//GOLD PRICE UP $7.15 TO $1894.30 WHILE SILVER WAS UP 59 CENTS TO $23.28//PLATINUM WAS UP $2.20 TO 914.60//PALLDIUM WAS DOWN $14.25//INTERESTING VIEWS: PETER SCHIFF AND CHRIS POWELL //ANOTHER NFL FOOTBALL PLAYER COLLAPSES ON THE FIELD AND THAT SUSPENDS THE PRE-SEASON GAME//OTHER COVID AND VACCINE UPDATES//SLAY NEWS/EVOL NEWS/NEWS ADDICTS//CHINA’S REAL ESTATE WOES WORSE THAN THOUGHT//UKRAINE VS RUSSIA UPDATES//UPDATES ON THE MAUI FIRE
Silver Is Significantly Underpriced Given the Looming Supply Shortage
by Michael Maharrey, Schiff Gold:
Given the current macroeconomic environment and the supply and demand dynamics, silver is significantly undervalued at $24 to $25 an ounce.
The bullish case for silver in the mainstream typically revolves around price inflation. There are certainly reasons to think inflation is stickier than the powers that be want to admit and that the Federal Reserve isn’t going to be able to win the inflation fight. That is bullish for both silver and gold.
But I don’t hear a lot of people in the mainstream talking about the looming supply shortage in the silver market.
Ongoing U.S. Mint Failures Bring Discredit to America, Raise Costs
by Clint Siegner, Money Metals:
We are one third of the way through 2023, and it has certainly been interesting in the bullion markets thus far.
The year opened with supply and demand for coins, rounds, and bars pretty well balanced. Demand surged when the failure of Silicon Valley Bank awakened investors to the possibility of systemic problems among smaller and regional banks.
In the background, gold and silver prices have been drifting higher.
For the moment, retail bullion demand has eased, and the markets seem to be taking a breather.
Holding Gold Is Like Holding a Wildcard
by Clint Siegner, Money Metals:
The future of money is uncertain, and speculation about what comes next is all over the place. The Federal Reserve note “dollar” is the world’s reserve currency, but its seat on that throne is no longer secure.
Nations around the world aren’t happy with either the weaponization of the dollar or the fact that the U.S. government prints it without restraint.
The BRICS countries are actively developing an asset-backed currency to compete with the dollar.
They are already cutting trade deals with settlement in rubles or yuan, instead of the greenback.
TROUBLE IN PAKISTAN AS OPPOSITION LEADER KHAN ARRESTED AND THAT COULD LEAD TO CIVIL WAR IN THAT COUNTRY
by Harvey Organ, Harvey Organ Blog:
ALL PRECIOUS METALS HAVE A GREAT DAY TODAY: GOLD CLOSED UP $9.70 TO $2035.50, SILVER WAS UP 7 CENTS TO $25.64 AFTER BEING DOWN ALL DAY//PLATINUM WAS UP $29.00 TO $1108.25//PALLADIUM WAS UP $14.70 TO $1570.20//COVID UPDATES//DR PAUL ALEXANDER//VACCINE IMPACT//SLAY NEWS//VACCINE DEATHS AMONG YOUNG CHILDREN//DEBT CEILING MEETING IS TODAY BETWEEN BIDEN AND MCCARTHY//CRE CONTAGION SPREADS TO SWEDEN WITH ITS LARGEST REAL ESTATE CONGLOMERATE SHREDDED TO PIECES AS ITS BONDS GO TO JUNK AND ITS DIVIDEND SUSPENDED//BIDEN AGAIN DELAYS FILLING UP HIS SPR//TROUBLE IN PAKISTAN AS OPPOSITION LEADER KHAN ARRESTED AND THAT COULD LEAD TO CIVIL WAR IN THAT COUNTRY
Waiting for BRICS…
by Alasdair Macleod, Schiff Gold:
The sell-off in precious metals which started in late July continued this week, but its momentum slowed with silver even showing a modest gain on the week so far. In early European trading, gold was $1892, having traded down to $1885 yesterday, for a net fall of $19 on the week. Silver was $22.78 having traded down to $22.30 on Tuesday but is up just 10 cents from last Friday’s close. On Comex, turnover in the gold contract was subdued, but in silver it was moderate to healthy.
Gold And Silver Prices: Anticipating Another Price Rise in 2023
by Dave Kranzler, Investment Research Dynamics:
I wrote the following commentary for Kinesis Money – you can read the source article here: Kinesis Money Blog
I argue that a new bull cycle for the precious metals sector began in late October 2022 – when it appears that gold and silver had bottomed and turned higher, after a downtrend since August 2020.
I believe that the precious metals sector will soon begin a cyclical, sustained move higher that will see gold surpass $2,000 and silver trade up to $30, for starters.
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:
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.
Gold Backs: The New Gold Currency with Jeremy Cordon
by Kerry Lutz, Financial Survival Network:
Kerry Lutz and Jeremy Cordon discussed Gold Backs, a form of commodity money that is split into a thousand pieces and wrapped in a protective layer to make it nearly impossible to counterfeit. Nearly half of all small businesses approached are interested in accepting Gold Backs. Since 2019, they have become the most successful local currency in American history. They are worth four dollars each and have a 5% spread on them, tighter than silver.
