Silver COT Report
Fri, 07/17/2020 – 15:04
The major trend for the dollar, however, is down. The Dollar Index has been grinding lower since mid March, when it put in a spike high.
Silver finally broke through $19 level with a strong close above it on Monday. There hasn’t yet been much follow-through. Although silver has continued to close above $19, we’re not seeing a big momentum push higher.
Mike Gleason
Fri, 07/17/2020 – 12:51
With government imposing mandatory suspensions of non-essential business in some places around the world, the majority of the mining sector continues to operate uninterrupted with the exception of adhering to CV19 protocols. Meanwhile, the gold price continues to hold strong at or above $1,800/oz. and has been very buoyant after sell-offs.
Chris Marchese
Fri, 07/17/2020 – 12:04
Adam Hamilton
Fri, 07/17/2020 – 11:56
Though too brittle to forge swords or armor, its luster and rarity made it a prized medium of exchange.
Powerful empires from Ancient Rome to Imperial Spain couldn’t mine enough of it.
Silver coins became the unit of account in many important currencies: the Greek Drachma; the Roman Denarius, the Islamic Dirham and the Spanish dólar.
Marin Katusa
Fri, 07/17/2020 – 11:11
Equity Management Associates/Lawrence Lepard/July 2020 Quarterly
“I believe there is useful information in this relative performance. The fundamental driver for this outperformance is that enormous sums of money and credit were issued and spent by the US Government (Treasury & Fed). This action represents extreme monetary debasement, and gold can smell it. Investors are flocking to gold because they are slowly coming to see that the Government cannot escape from a debt trap without the Fed financing it and thus causing monetary debasement and, eventually, inflation.”
USAGOLD note: A lengthy look at gold and related investments that concludes the Fed has no choice but to inflate and gold will react like it did in the 1970s. If it reacts too quickly and strongly to the upside, says Lepard, monetary authorities might step in to make the ride as rough as possible for gold owners. When the ultimate goal is wealth preservation, it doesn’t matter if the ride is rough or smooth. It only matters that we make it to our destination wealth reasonably intact.
Yahoo-Bloomberg/Denise Wee/7-15-2020
“The New York University professor who developed one of the best-known formulas for predicting corporate insolvencies has a warning for U.S. credit investors: this year’s spate of “mega” bankruptcies is just getting started. More than 30 American companies with liabilities exceeding $1 billion have already filed for Chapter 11 since the start of January, and that number is likely to top 60 by year-end after businesses piled on debt during the pandemic, according to Edward Altman, creator of the Z-score and professor emeritus at NYU’s Stern School of Business.”
USAGOLD note: And what will the numbers be after the first half of next year? Who believes that the aggregate corporate loan volume is going to decrease over the next 12 months? Not many ……
