Month: February 2021

Silver

Silver Rush Triggers Record Sales, Crashes Retail Sites & Strains Mint Supply

Post author By Gold News Club
Post date February 6, 2021

First GameStop and AMC stocks. Now silver. WallStreetBets, and new subreddits like WallStreetSilver, have sent investors into a frenzy for silver, with buyers crashing well-known retailer websites, straining the U.S. Mint’s already-low supply of gold and silver bullion, and nearly clearing out Scottsdale Bullion & Coin of silver coins and bars this past week.

Who is WallStreetBets? What’s happening in the silver market right now? Watch the video above. Precious metals advisors Eric Sepanek and Steve Rand break down the sequence of events that triggered this massive #SilverSqueeze silver rally.

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Silver

China keeps burning through its gold reserves fastest in the world – report

Post author By Gold News Club
Post date February 6, 2021

Kitco News

(Kitco News) – According to the preliminary data released by the U.S. Geological Survey (USGS), global recoverable mine gold reserves in-situ amounted to about 53,000 metric tonnes in 2020, which is 6% more than 50,000 tonnes reported in 2019.

The post China keeps burning through its gold reserves fastest in the world – report appeared first on WorldSilverNews.

Silver

COT Silver Report – February 5, 2021

Post author By Gold News Club
Post date February 6, 2021

COT Silver Report – February 5, 2021

Positions as of Tuesday, February 2, 2021.

Silver COT Report
Fri, 02/05/2021 – 15:26

Silver

Is the silver squeeze really dead? Here’s some great news for silver price – Kitco NEWS

Post author By Gold News Club
Post date February 6, 2021

Is the silver squeeze really dead? Here’s some great news for silver price Kitco NEWS

Silver

Silver Price Daily Forecast – Silver Rebounds After Yesterday’s Sell-Off – FX Empire

Post author By Gold News Club
Post date February 6, 2021

Silver Price Daily Forecast – Silver Rebounds After Yesterday’s Sell-Off FX Empire

Gold

How gold’s role in a portfolio differs from cryptos

Post author By Gold News Club
Post date February 6, 2021

World Gold Council/2-2-2021

graphic image of a book and reading glasses A Good Weekend Read “The advent of blockchain and cryptocurrencies has catalysed innovation in the financial industry. Their proliferation and recent exponential price increase have captured investors’ imaginations. However, the developments in blockchain and cryptocurrencies do not imply that cryptocurrencies are a substitute for gold. The argument that gold and cryptocurrencies such as Bitcoin 2, 3 are similar appears to stem from perceptions of:

• their limited supply
• their role as alternatives to fiat currencies.

However, this comparison is simplistic and overlooks fundamental differences between gold and cryptocurrencies – not only in terms of their market dynamics but also in terms of their performance and the role they play in portfolios.”

USAGOLD note: Most of our clients have not had a great deal of difficulty separating the differences between cryptocurrencies (if we can call them currencies) and gold. We post this article for the general reader who may be intrigued with the cryptocurrency argument and see it as a competitor and alternative to gold. The World Gold Council does a good job of explaining the many differences between the two in this article and why gold is likely to remain the top choice among investors as an alternative to local fiat currencies.

bar chart showing comparison between gold and bitcoin fo societal impact, speculation, shor-term returns, wealth protection and long-term returns

Courtesy of World Gold Council-GoldHub • • • Click to enlarge

The post Today’s top gold news & opinion first appeared on Today’s top gold news and opinion.

Gold

The ‘exuberant nuttiness in asset prices’ including the housing market

Post author By Gold News Club
Post date February 6, 2021

Wolf Street/Wolf Richer/2-2-2021

“During the press conference following the FOMC meeting last week, Fed Chair Jerome Powell was asked by different reporters about the craziness going on in the stock market, the chaotic thingy with GameStop, corporate debt, and the housing market.”

USAGOLD note: A good many of our readers have a stake in the housing market and follow closely what is going on in their particular area. Prices everywhere are on the rise so one region is not essentially different from any other except by degree. Fed chairman Powell put off rising real estate prices as a temporary, pandemic-driven phenomenon – not another bubble. Richter believes that monetary inflation is the bigger influence driven by massive Fed purchases of mortgage-backed securities.

The post Today’s top gold news & opinion first appeared on Today’s top gold news and opinion.

Gold

Gold pares weekly loss as silver ends the week higher – MarketWatch

Post author By Gold News Club
Post date February 6, 2021

Gold pares weekly loss as silver ends the week higher MarketWatch
Gold looks bad, silver undecided | Kitco News Kitco NEWS
China gets holiday boost, Indian gold buyers cheer price dip Yahoo Finance
Gold Price Tumbles, SLV Shrinks as US Inflation Forecasts Hit 6.5-Year High on Covid Vaxx Recovery | Gold News BullionVault
Price of Gold Fundamental Daily Forecast – Bearish News Piling Up as Gold Heads Toward $1787.30 – $1711.70 FX Empire
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