Month: October 2020

Singapore Bullion Marketing Association/Elly Ong/October 2020

“Improving gold market fundamentals could support rising prices into 2021, in our view, with our scenario analysis pointing to 13-50% higher levels than consensus. Drivers include shifting consumer behavior along with stronger haven status amid risks to global economic growth, geopolitics and pandemic concerns.”

USAGOLD note: Elly Ong is an equity and industry analyst at Bloomberg Intelligence. Her analysis includes an interesting event timeline for gold in 2021 – all leading, as the above quote spells out, to a 13% to 50% increase over the consensus estimate.

The post Will gold’s rally extend into 2021? first appeared on Today’s top gold news and opinion.

Bloomberg/Patricia Laya and Fabiola Zerpa/10-5-2020

“Venezuela has begun to import banknote paper and is mulling plans to print bills with larger denominations as hyperinflation causes shortages of cash …”

USAGOLD note:  Difficult to avoid drawing parallels between Venezuela’s hyperinflationary nightmare and what occurred in Germany in the 1920s when people pushed wheelbarrows loaded with currency from store to store. One hyperinflation, though, is pretty much like any other – with the destruction of life savings the chief feature. Other, more stable currencies are a hedge, but nothing holds a candle to gold – the ultimate store of wealth under such situations.

The post Venezuela’s 100,000 Bolivar note worth 23¢ (US), printer ships 71 tons of paper notes to economically blighted country first appeared on Today’s top gold news and opinion.

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The post https://www.usagold.com/cpmforum/2020/10/290685/ first appeared on Today’s top gold news and opinion.