Silver Price Daily Forecast – Silver Continues Its Rally FX Empire
Author: Gold News Club
Why silver prices are up about 25% in a month Livemint
Silver Price Daily Forecast – Silver Dives Back Under $17.00 FX Empire
Bloomberg/Elena Mazneva and Jack Farchy/5-29-2020
“The scramble to jump on one of the hottest gold trades in years — by shipping bullion to New York — has sparked what may be one of the largest ever physical transfers of the metal. ‘The flows into New York are unprecedented,’ said Allan Finn, global commodities director at logistics and security provider Malca-Amit. His company’s teams in New York have been working 24 hours a day to cope with demand while navigating lockdowns, flight disruptions and social distancing.”
USAGOLD note: As the saying goes, there’s no rush like a gold rush …… Such a fuss over a pet rock.
Image courtesy of Visual Capitalist
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New golden age – building up gold reserves
The Alchemist/Daniel Palotai and Istvan Veres – Central Bank of Hungary/June2020
“Gold, especially in physical form, is an asset that can strengthen trust towards a country both within and across national borders. One of the important changes in central banks’ behaviour after the Global Financial Crisis was that the need arose to store gold in domestic locations, not in distant financial centres. One by one, central banks announced their repatriation programmes.”
USAGOLD note: Gold is a long-term store of value for central banks, funds, institutions and private investors. In this article, the Central Bank of Hungary goes to lengths to explain why. The World Gold Council recently took a survey in which 20% of central banks said that they are likely to add to their gold reserve in 2020 – up from 8% last year.
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In gold we trust
Incrementum/Ronald Peter Stoeferle and Mark J. Valek/May 2020
“These developments have in some cases already built up over years and decades, but in the current crisis the situation is becoming exorbitantly worse. As unpleasant as the dynamics in general are, the conditions for gold could not be better, given massively overindebted economies, which as a last resort use the devaluation of their currencies to finance their deficits. For these and a number of other reasons, we take a broad view and foresee ‘The Dawning of a Golden Decade.’”
USAGOLD note: Stoeferle and Valek make the case for gold in this 93-page summary of the full version. This report is greatly anticipated annually for its depth and perceptions. “The question is not whether the gold price will reach new all-time highs,” it advises, “but how high these will be. We are convinced that gold will prove to be a profitable investment over the course of this decade and will provide stability and security in any portfolio. … By a conservative calibration, our proprietary valuation model shows a gold price of USD 4,800 at the end of this decade. If money supply growth develops in a similar inflationary manner to that of the 1970s, a gold price around USD 8,900 is realistic by 2030.” This comprehensive and fascinating report is worth the time spent on it: Available at the link above.
Yahoo-Reuters/Peter Hobson
“Swiss exports of gold to the United States leapt to 111.7 tonnes in April – by far the biggest monthly total on record – while shipments to other destinations dwindled, customs data showed on Tuesday.”
USAGOLD note: Typically the United States imports about one tonne of gold from Switzerland per month, according to Reuters. We would associate the larger shipment with anticipated demand for gold to fulfill futures’ delivery demand via COMEX.
Repost from 5-26-2020
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