Silver COT Report
Fri, 05/29/2020 – 15:34
Mike Gleason
Fri, 05/29/2020 – 12:38
Adam Hamilton
Fri, 05/29/2020 – 11:54
Financial Times/Henry Sanderson/5-27-2020
“Big bullion banks including HSBC have pulled back from trading gold futures after disruption in the market that flared up in the coronavirus crisis.”
USAGOLD note: An interesting look at what happened back in March when COVID-19 disrupted the flow of bullion in the gold market and affected settlement on the COMEX. Some bullion banks were caught short forcing them to take a major mark to market loss when premiums bolted higher. Delivery first notice day, by the way, was yesterday (5/28/2020), so we will see in time whether or not a similar event to March is in progress on the June contract.
Daily Reckoning/Bill Maher/5-21-2020
“There is absolutely nothing wrong with this economy that a miracle cannot fix… to fine-tune a phrase of Alexander Woollcott. We believe the economy was going at partial throttle even before the pestilence ran it down. It gave the appearance of an exotic racing auto — sleek, finely lined, waxed to a blinding sheen … But beneath this racer’s shining surface lurked a lemon…”
USAGOLD note: Things not being what they seem is the theme of the day and instead of the “V-shaped” recovery we all wish for, Maher worries it is an illusion. Instead he sees “More debt, more warfare against savers, more monetary and economic bedlam, more of all of it — only more so.”
Ready to include a safe haven in your portfolio plan?
DISCOVER THE USAGOLD DIFFERENCE
ORDER DESK: 1-800-869-5115 x100/orderdesk@usagold.com
ORDER GOLD & SILVER ONLINE 24-7