Silver COT Report
Fri, 06/19/2020 – 15:33
The unprecedented monetary and fiscal policy response is unlikely to go away and more likely to become more reckless and dangerous, creating the perfect storm for gold, silver, and related mining equities. Hold Strong. Our time has coming.
Chris Marchese
Fri, 06/19/2020 – 14:34
Steve St. Angelo
Fri, 06/19/2020 – 08:52
Reuters/Staff/6-19-2020
“’Policy uncertainty aside, we believe that debasement fears remain the key driver of gold prices in a post-crisis environment such as this,’ analysts at Goldman Sachs wrote in a note. A weaker dollar will boost the purchasing power of major gold consumers across emerging markets along with easing of lockdowns, the bank added.”
USAGOLD note: We referenced this article in this morning’s DMR – a significant upgrade from Goldman Sachs on gold’s prospects over the next 12 months.
MarketWatch/Shawn Langlois/6-26-2020
“Why do we care what he says? Well, back in 2010, he [University of Connecticut professor Peter Turchin] predicted on Nature.com that the U.S. would suffer major social upheaval beginning around 2020. ‘Very long ‘secular cycles’ interact with shorter-term processes. In the United States, 50-year instability spikes occurred around 1870, 1920 and 1970, so another could be due around 2020,’ he wrote at the time. ‘Records show that societies can avert disaster. We need to find ways to ameliorate the negative effects of globalization on people’s well-being.’”
USAGOLD note: Echoes of the Fourth Turning. …… and Kondratieff’s 50-year wave (as represented graphically above).
Image: Kondratieff_Wave.gif: Internaszonalderivative work: Agmen [Copyrighted free use]
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Financial Times/Chloe Cornish/6-12-2020
“The Lebanese pound, which has officially been pegged at L£1,500 to the dollar for two decades, fell to L£6,000 to the dollar on the parallel market on Thursday. Local media reported prices as low as L£7,000 to the dollar in some places, amid panicked trading. The pound started the week at L£4,000 to the dollar, falling 50 percent on the parallel market in four days.”
USAGOLD note: The time to buy gold and silver is before, not after, the fact ……
Repost from 6-15-2020
Bloomberg/Christopher Congdon and Craig Torres/6-15-2020
“The central bank also added a twist to its buying strategy, saying it would follow a diversified market index of U.S. corporate bonds created expressly for the facility. The Fed built the index internally, and a spokesman couldn’t immediately say whether its details would be made public.”
USAGOLD note: Gold rallied on this news yesterday retracing much of a $21 decline. It will not be long until the critics show up to ask if this is the sort of thing central banks should be involved in. Mohammed El-Erian this morning says that we need to worry about zombie markets as an extension of zombie companies. We are not there yet, he says, but we are getting close.
Repost from 6-16-2020
