Gold, silver prices back off on some normal profit taking in uptrends Kitco NEWS
Author: Gold News Club
Silver Price Daily Forecast – Silver Tests The Major Resistance At $19.00 FX Empire
Silver is exploding, is $20 an ounce next? Analysts weigh in Kitco NEWS
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A potential crisis in COMEX gold
Goldmoney/Alasdair Macleod/7-7-2020
“Bullion banks are between a rock and a hard place. For years they’ve been playing the hedge funds as an angler hooks and plays a fish. That game has ceased and there is no easy way for them to get level. For the moment they are trying to put a lid on the price, but the cost has been rising open interest, and therefore rising mark-to-market positions. The August active contract runs off the board at the end of this month and bullion banks are likely to be forced into large delivery volumes again. Furthermore, the exchange for delivery arbitrage facility between Comex and the LBMA is broken, allowing Comex premiums to London spot to go unchallenged.”
USGOLD note: Conclusion similar to what we posted yesterday with the Bloomberg article on increased delivery commitments in silver and platinum as well ……… Macleod fills in the blanks providing important details.
Reuters/Video Interview/7-6-2020
“Gold prices are near an 8-year high but investors should keep adding exposure to the precious metal, that’s the advice of Clear Harbor Asset Management CEO Aaron Kennon.”
USAGOLD note: We once estimated that the price of gold reached over 100 billion marks per ounce during the 1920s nightmare German inflation having started in 1918 at 119 marks per ounce. Caveat venditor – Let the seller beware! It’s all a matter of currency value. As pictured, currency denominations went from 20 marks to 20 million marks on roughly the same piece of paper – same intrinsic value – in a few short years. A 20 mark gold coin, on the other hand, bought roughly the same amount of groceries in 1923 that it did in 1918.
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News at a glance – Science Magazine
News at a glance Science Magazine