Silver Price Daily Forecast – Silver Gets To New Highs FX Empire
Month: May 2020
Gold, silver prices up on anxiety ahead of Trump presser on China Kitco NEWS
Financial Times/Henry Sanderson/5-27-2020
“Big bullion banks including HSBC have pulled back from trading gold futures after disruption in the market that flared up in the coronavirus crisis.”
USAGOLD note: An interesting look at what happened back in March when COVID-19 disrupted the flow of bullion in the gold market and affected settlement on the COMEX. Some bullion banks were caught short forcing them to take a major mark to market loss when premiums bolted higher. Delivery first notice day, by the way, was yesterday (5/28/2020), so we will see in time whether or not a similar event to March is in progress on the June contract.
Categories
The jalopy economy
Daily Reckoning/Bill Maher/5-21-2020
“There is absolutely nothing wrong with this economy that a miracle cannot fix… to fine-tune a phrase of Alexander Woollcott. We believe the economy was going at partial throttle even before the pestilence ran it down. It gave the appearance of an exotic racing auto — sleek, finely lined, waxed to a blinding sheen … But beneath this racer’s shining surface lurked a lemon…”
USAGOLD note: Things not being what they seem is the theme of the day and instead of the “V-shaped” recovery we all wish for, Maher worries it is an illusion. Instead he sees “More debt, more warfare against savers, more monetary and economic bedlam, more of all of it — only more so.”
Categories
Ready to include a safe haven in your portfolio plan?
DISCOVER THE USAGOLD DIFFERENCE
ORDER DESK: 1-800-869-5115 x100/orderdesk@usagold.com
ORDER GOLD & SILVER ONLINE 24-7
Categories
Is the Fed walking into a trap?
Real Investment Advice/Lance Roberts
“Over the last decade, the Federal Reserve, and Central Banks globally, have engaged in never-ending ‘emergency measures’ to support asset markets. While the stated goal was that such actions were to foster full employment and price stability, there has been little evidence of success … What monetary policy did not do was lead to ‘general fluctuations in price levels.’ Despite the annual call by the Fed of higher rates of inflation and economic growth, the realization of those goals remains elusive.”
USAGOLD note: Roberts argues that deflation is the longer-term threat, but inflation potentially looms in the short term. That, he explains, will present the Fed with a whole new and different set of problems.
Repost from 5-24-2020
CNBC/Chloe Taylor
“Two French kids reportedly stumbled upon more than $100,000 worth of gold while they were in coronavirus lockdown. According to local media, the children — both around 10 years old — made the discovery when their family went to stay with an older relative in the French town of Vendome after lockdown measures were enforced in March.”
USAGOLD note: May your lockdown be equally productive.
Repost from 5-24-2020
Categories
Uncharted waters
Back on March 16, a report by Imperial College London forecast 2.2 million Americans would die from the coronavirus and that 81% of the U.S. population would be infected. Consequently, Trump and his team of experts, namely Dr. Anthony Fauci and Dr. Deborah Birx, began holding daily press conferences and quickly scared the daylights out of the American public.
Think about it: 2.2 million Americans were facing death. Who wouldn’t be afraid?
At first, few questioned the death projections, despite being authored by Neil Ferguson, who had previously greatly overestimated the death rates for other diseases: mad cow disease, bird flu, and swine flu. No other epidemiologists were asked to comment. Fauci and Birx became household names.
In April, President Trump signed into law a bill that called for $2.35 trillion to be spent to head off the economic collapse as unemployment climbed. Then, in stepped the Federal Reserve with measures that added an additional $4 trillion. All told, more than $6 trillion has been committed to arrest the economic downturn caused by the government’s reaction to the pandemic.
Never to let a crisis go to waste, last week Nancy Pelosi rammed a bill through the House that called for an additional $3 trillion in spending. While the Senate is unlikely to pass the bill as it is written, if the economy does do not respond fast enough some form of Pelosi’s bill will pass.
But, it doesn’t stop with the U.S. Across the world central banks are creating massive amounts of money. In Europe, some €2 trillion or so has been earmarked to keep businesses from bankruptcies, such as bakeries, bookshops, and other small firms. Now, though, Europe is turning to the corporate titans.
France announced an €8 billion package to support its carmakers, including a large loan to Renault, which recently announced it was laying off 15,000 employees. Lufthansa is negotiating a €9 billion bail-out from Germany. The taps are open, and more blue-chip bailouts are expected.
There is no end in sight to the Fed’s money printing, especially in an election year, which makes this an excellent time to get in gold and silver. Although silver is lagging, gold is within 9% of its all-time high. Yet it is rarely discussed on the financial news channels.
Fact is, the metals are completely ignored, not by just the news media but also by gold bugs. Although there was heavy buying at CMI in March and early April, recently the calls have slowed. In the past when the metals have been ignored, that has been a good time to buy.
Gold mining with mercury poses health threats for miles downstream: Assumption that distance lowers risk doesn’t hold up Science Daily
Gold rush, mercury legacy: Small-scale mining for gold has produced long-lasting toxic pollution, from 1860s California to modern Peru The Conversation US