Categories
Gold

Hedge funds bet on gold as refuge from ‘unfettered’ currency printing

Financial Times/Laurence Fletcher and Henry Sanderson/4-5-2020

graphic image of billionaire investors stacking bars of gold in a large vault
“Some of the world’s largest hedge funds are raising their bets on gold, forecasting that central banks’ unprecedented responses to the coronavirus crisis will lead to devaluations of major currencies.”

USAGOLD note:   Chock full of information, this is the most important and comprehensive report we have seen in quite some time on hedge fund involvement in the gold market. We will summarize it by saying hedge fund involvement is deep, the players are prominent, and their commitments, given the rationale, are unlikely to unwind anytime soon.  Highly recommended ……


Image courtesy of Visual Capitalist

Categories
Gold

Gold: Virus risk falling, (geo)political risk rising

ScotiaBank/Metals Strategy/5-4-2020

“ON risk, Buffet has exited one the main causality sector (airlines), and together with bubbling geopolitical tensions, the temptation to sell in May and go away is even more appealing. We have argued tariffs and COVID-19 are cousins (of protectionism), thus Gold – usually a decent macro leader – is maintaining some COVID-19 premium, as markets begin to price in what trade wars failed to do (an escalating US-China blame game, real bordering up of nations and economies where friends/supplies chains are carefully chosen.)”

USAGOLD note:  Interesting summation from the banking firm that just recently gave up its long tenure in the London gold market ……

cartoon about coronavirus vaccine and need for politics vaccineCartoon courtesy of MichaelPRamirez.com

Categories
Gold

Newmont profits soar in Q1, but Colorado gold-mining giant preps to live with Covid-19 long term – Denver Business Journal

Newmont profits soar in Q1, but Colorado gold-mining giant preps to live with Covid-19 long term  Denver Business Journal
Categories
Gold

Harmony Gold Mining production drops, cash doubles – Kitco NEWS

Harmony Gold Mining production drops, cash doubles  Kitco NEWS
Categories
Gold

Technical Developments in Gold Mining Stocks Offer a Bullish Signal for Spot Gold – Yahoo Finance

Technical Developments in Gold Mining Stocks Offer a Bullish Signal for Spot Gold  Yahoo Finance
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Gold

Gold ends over 1% lower as the dollar firms and some U.S. states ease lockdown measures – MarketWatch

Gold ends over 1% lower as the dollar firms and some U.S. states ease lockdown measures  MarketWatch
Categories
Gold

Central-bank gold selling ‘limited’ but holdings could be used as collateral: Standard Chartered – Kitco NEWS

Central-bank gold selling ‘limited’ but holdings could be used as collateral: Standard Chartered  Kitco NEWS
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Gold

Gold prices weaker following sobering ADP jobs data – Kitco NEWS

Gold prices weaker following sobering ADP jobs data  Kitco NEWS
Categories
Gold

Gold price boosts Barrick profit as miner eyes copper deals – Kitco NEWS

Gold price boosts Barrick profit as miner eyes copper deals  Kitco NEWS
Categories
Gold

Gold price back below $1700 – MINING.com

Gold price back below $1700  MINING.com