Steve St. Angelo
Thu, 08/20/2020 – 03:53
BloombergOpinion/Brian Chapatta/Interview of Lacy Hunt/8-14-2020
“The Hoisington Investment Management economist hasn’t changed his view that Treasury yields are headed lower. But a move to literal money printing could change the game.”
USAGOLD note: Now 78 years old, Lacy Hunt brings a great deal of experience to the table. When asked about the rise of Modern Monetary Theory, the conversation with Chapatta gets very interesting. He talks about triggering Gresham’s Law – then “people would only want to hold commodities they can consume and commodities that can be traded for others.”
CPM Group/8-18-2020
“Even though silver prices already have risen sharply so far this year, there is more potential for upside in the short to medium term. There are several key resistance levels to be crossed but a run to silver’s past record should not be entirely surprising.”
USAGOLD note: That past record is in the vicinity of $50 per ounce. For those new to investing in silver, we would add our own caution to the caveat above (i.e. “key resistance levels to be crossed”) that silver often outperforms gold both to the upside and downside. The article linked above is well worth the visit if you are thinking about adding silver to your holdings.
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Seeking Alpha/Equity Management Academy
“For gold, is the top in? If you look at the fundamentals, it does not appear to be so. This correction appears to have been an opportunity for those who missed the previous move to get into the gold market. We recommend 15% or more of your net worth being in gold. Some trade 80% or 90% of their net worth in gold. We have not yet seen the true demand for gold or what the demand can do to the price of gold. Gold at $3,000, $5,000 or $10,000 may be reached. If we don’t get the economy back to some sort of normal, gold is just going to keep rising.”
USAGOLD note: We hadn’t looked at a chart on gold volatility in a while and were surprised at the sharp rise since mid-July.
Sources: Chicago Board Options Exchange, St. Louis Federal Reserve [FRED]
Click to enlarge
Repost from 8-17-2020
Reuters/Peter Hobson
“Hedge fund Bridgewater Associates raised its investment in gold-backed exchange-traded funds by a third in the second quarter, buying the equivalent of 170,000 ounces of gold worth $340 million at current prices, a regulatory filing showed.”
USAGOLD note: Ray Dalio, Bridgewater’s CEO, defending his public proclamations with action – and plenty of it. Bridgewater’s gold position represents about 17% of the fund’s $6 billion total.
Repost from 8-15-2020
