Monday, August 3, 2020

UNBELIEVABLE RISE IN SILVER OPEN INTEREST TO THE TUNE OF 9800 CONTRACTS ON TOP OF A HUGE 4800 EFP ISSUANCE AS DEMAND FOR SILVER GOES THROUGH THE ROOF

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN 10 CENTS TO $1298.60/SILVER DOWN 5 CENTS TO $16.73/ALASDAIR MACLEOD: A MUST READ THIS WEEKEND/MICHAEL HOROWITZ IG REPORT WILL BE OUT JUNE 14/TOP SENATE STAFFER ARRESTED FOR LEAKING PLUS DOCUMENTS REMOVED FROM A NEW YORK TIMES REPORTER/THE CROOK MUELLER CHARGES MANAFORT WITH ANOTHER 7 CHARGES OF WITNESSING TAMPERING

ITALY, HYPERINFLATION AND GOLD

by Egon Von Greyerz, Gold Switzerland:

The ECB (European Central Bank) just had its 20th birthday. But there is really nothing to celebrate. The EU is in a total mess and the Euro which was launched on January 1, 1999 is a failed currency. Every President of the ECB has had to deal with fires that had very little to do with price stability but were more a question of survival. Most of these fires were a lot more serious than the candles in the Euro cake on the left which Draghi is trying to blow out. During the French ECB Trichet’s watch, he had even bigger fire to blow out which was the Great Financial Crisis that started in 2006.

Precious Metals Represent Something True

by Clint Siegner, Money Metals:

You began investing in precious metals because they represent something honest.

Gold and silver are tangible, scarce, and beautiful. People have always recognized them as such. Societies naturally gravitated toward using them as a trusted medium of exchange – money – almost as soon as societies were formed.

Over time civilizations have come and gone. The world has seen constant social upheaval and change.

Why $10,000 Gold Will Not Be What You Think- Avi Gilburt (07/06/2018)

by Avi Gilburt, Sprott Money:

For almost 7 years now, I have been actively engaged in the online community relating to investing opportunities. In fact, my first public article about a specific asset was when I called for a top in gold back in the summer of 2011, when most were certain we were about to easily eclipse the $2,000 mark. However, my expectation was that the $1,915 region would likely put a cap to this rally, despite the parabolic rally we were experiencing in gold at the time. And, as we now know, gold topped at $1,921 about a month after my top call.

Since that time, I have not only written hundreds of public articles, but I probably have read much more than 5 times that amount regarding various financial markets.

HOW TO STORE GOLD, SILVER AND BITCOIN LIKE A BOSS

by Chris Marcus, Miles Franklin:

This “how to” secure storage strategy is for those of you who, like me, love gold, silver and bitcoin.

Actually, if you only love gold or silver and hate bitcoin, this article will show you how to store your precious metal in fully segregated and secure offshore storage facilities protected by your own armed security force.

If you love bitcoin and hate gold and silver, you’re going to learn how to safely store your bitcoin in a super secure, unhackable and bulletproof bitcoin “cold storage” system.

GOLD UP $1.45 TO $1298.65/SILVER UP 12 CENTS TO $16.78

by Harvey Organ, Harvey Organ Blog:

QUEUE JUMPING INTENSIFIES IN SILVER AT THE COMEX AS WE NOW HAVE 4.4 MILLION OZ OF SILVER STANDING IN A NON ACTIVE DELIVERY MONTH/HUGE DEMAND FOR SILVER WITH ALMOST 14,000 OPEN INTEREST INCREASE WITH RESPECT TO THE COMEX AND EFP ISSUANCE/CHAOS IN EMERGING MARKETS: INDONESIA, BRAZIL AND TURKEY/CHINESE DEMAND FOR GOLD HEADING FOR 2200 TONNES THIS YEAR WHICH IS ABSOLUTELY HUGE AND WILL CERTAINLY PUT A DENT INTO THE SUPPLY LINES FROM LONDON

Russia Set To Double Gold Mining, Becoming World’s 2nd Biggest Gold Producer

from ZeroHedge:

While Moscow’s selling of US Treasurys over the past 6 years is hardly a surprise to anyone…

… Putin’s far more aggressive purchases of gold in recent years, with Russian reserves now in their 39th consecutive month of additions, have certainly raised a few eyebrows: almost as if Russia is doing everything it can to prepare for the moment when the US dollar is no longer a reserve currency.

Whatever Those Gold & Silver “Exchange For Physicals” Do They’re Not Exchanging Actual Gold Or Silver

by Chris Powell, via Silver Doctors:

Dear Friend of GATA and Gold:

South African market analyst Nicholas Biezanek reports that whatever is represented by the explosive increase in use of the “exchange for physicals” mechanism to settle gold and silver contracts on the New York Commodities Exchange represents, it is not drawing down the inventory of metal vaulted in London.

Trouble Brewing in Emerging Markets

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by Jim Rickards, Daily Reckoning:

Emerging markets, EMs, have had an amazing run over the past two years. Moving in lock step with U.S. stock markets, the leading EM stock ETF has produced gains of over 50% since early 2016.

But just as U.S. stocks have run into higher volatility and major drawdowns in recent months, EM stocks have also encountered head winds. A major reversal of EM stock gains is emerging.

Can Silver Break Its Chains? – David Brady (06/06/2018)

by David Brady, Sprott Money:

Given that Gold continues to trade in a tight range ahead of the FOMC meeting next week—and nothing has changed in terms of its analysis, save for a bullish drop in open interest to 450k today—I am taking this opportunity to review Silver briefly.

More often than not, Gold leads Silver at turns—which makes sense given the size of the Gold market relative to Silver–then Silver passes Gold in terms of performance. With this in mind, any attempt to determine the next direction for Silver must incorporate the outlook for Gold. That said, let’s review positioning, sentiment, and technical analysis for Silver.