Saturday, November 18 2017

Bitcoin's Success Is Excellent News for Gold

Gold's stock value was 1 trillion dollars in 1999 & almost hit 10 trillion dollars in 2011 - currently sitting on 7.437 trillion.

Bitcoin's crypto value was 20 billion & now has risen to 120 billion in much the same manner.

What many do not realise is that whilst Bitcoin might rise another 10 fold up to 1.2 trillion there's every good chance that gold will rise in it's next cycle from 5 to 10 fold.

Gold's next cycle high is due in early 2020 & a 5 fold rise would raise it's stock value to 37 trillion dollars - 10 fold up to 74 trillion (and some fear bitcoin overtaking gold).

This rampant growth in safe haven wealth money in both Gold & Bitcoin is representative of the inflationary rise in fiat assets that has been fueled by Central Banks around the world.

At this stage of the financial cycle with sharemarkets looking topped out, bonds & many fiat assets most overvalued it is good to have a foot in both Gold & Bitcoin to secure ones wealth through the coming financial meltdown.

No doubt the oldies prefer gold & the youngsters prefer bitcoin but the asset classes are much the same - secured wealth stored away.

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Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Gold/Silver - Futures - COTs - Commitment of Traders

COTs this week

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Friday, November 17 2017

Gold Survey 2017

Gold Survey 2017: Q3 Update and Outlook

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Thursday, November 16 2017

World Gold Council Head: "Nothing to Suggest Gold is Suffering From the Popularity of Crypto"

“More people are now searching online for how to buy bitcoin than they are searching for how to buy hold,” according to Google Trends. Gold is the classic hedge against stock market volatility, especially during downturns.

It certainly doesn’t help to have a booming stock market at the moment along with a new commodity asset in cryptocurrencies. Leaving out the entirety of the legacy markets, bitcoin alone has appreciated many hundreds of percentages in just 2017.

The latest World Gold Council report of 8 November 2017. It “showed demand for bullion fell to 915 tonnes in three months to September, down 9 per cent from the same period a year ago.”

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SI Interim Report Press Release

Release of Thomson Reuters Interim Silver Market Review

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Tuesday, November 14 2017

China Gold Import Jan-Sep 797t. Who’s Supplying?

Until new evidence shows up my best guess is that China net imported 777 tonnes in the first nine months of 2017, sourced from all corners of the world: the UK, South-Africa, Australia, Switzerland, the US, Middle-East and Philippines. It seems Chinese banks are active all over the world looking to buy gold on the dips. Snapping up physical metal when the time is right.

Chinese imports add to China’s domestic mining output. The China Gold Association disclosed on November 1 that mine production accounted for 313 tonnes, down 10 % compared to last year. Nearly all this gold (313 + 777) is sold through the SGE. Withdrawals from the vaults of the SGE accounted for 1,505 tonnes over this period, implying 415 tonnes (1,505 – 313 – 777) was supplied by scrap and disinvestment (or partially recycled through the SGE system).

Since all non-monetary gold imported and mine production ends up in the private sector, my estimate for total gold owned by the Chinese people now stands at 16,575 tonnes. Added by a more speculative estimate of 4,000 tonnes held by the PBOC makes 20,575 tonnes.

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Turks Just Bought The Most Gold Ever As Lira Tumbles

Addditionally, as Bloomberg reports, Bar and coin purchases, a measure of investment demand, were 47 metric tons so far in 2017, compared with 14.8 tons in the same period a year ago, according to a report from the World Gold Council published Thursday.

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Gold/Silver - Futures - COTs - Commitment of Traders

COTs last week

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Monday, November 13 2017

Ray Dalio Goes On Gold Buying Spree, Adds 575% To GLD Holdings, Becomes 8th Largest Holder

In Q3, Ray Dalio went on a gold buying spree, increasing his GLD holdings by a whopping 575%. As a result of the surge in holdings, Bridgewater as of this moment, the 8th largest holder of paper gold, known as GLD.

It wasn't only GLD, however, because Bridgewater also nearly tripled its IAU holdings, increasing its paper iShares gold holdings by 266%, from 3.1 million shares to 11.3 million.

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Sunday, November 12 2017

BIS gold swaps rose substantially in October

The information provided in the BIS monthly statement of account is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but it appears that the total exposure has risen above 570 tonnes of gold as of October 31.

This compares to an estimate of close to 500 tonnes as of August 31 and an audited figure of 438 tonnes as of March 31.

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Saturday, November 11 2017

How Germany got its gold back

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Today, Germany is one of the biggest holders of gold in the world: it owns 3,378 tonnes, worth €119bn, second only to the US. But until recently, most of that gold was stored in New York, London and Paris. When the country decided to bring half of its gold back home, Mr Thiele was put in charge.

Over the past five years, he has masterminded the transportation of almost 54,000 gold bars — each with a value of just under $510,000 — to Frankfurt, Germany’s financial capital, moving $27bn (in today’s prices) from the vaults of the US Federal Reserve and the Banque de France. The last bars arrived at the Bundesbank’s headquarters, a few kilometres north of Frankfurt’s city centre, in August. But how Germany’s gold came to be abroad is a story that goes back to the second world war and beyond.

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Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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My Conviction in Gold Royalty Companies and Bitcoin

We were one of Wheaton Precious Metals’ seed investors in 2004, when it was known as Silver Wheaton. Because Franco-Nevada wouldn’t be spun off from Newmont Mining for another three years, Wheaton had first-mover advantage. It was something new, something different. This, coupled with what I recognized as a superior business model, gave me the conviction to allocate capital into the fledgling company, a move that turned out to be highly profitable.

Today I have the same conviction in blockchain technology and digital currencies. As of the end of October, the initial coin offering (ICO) market had raised $3 billion so far this year. That’s more than seven times the amount generated in crowdfunding in all of the previous years before 2017. And Bloomberg just reported that Google searches for “buy bitcoin” recently surpassed searches for “buy gold.”

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Gold investors hold their nerve as stock markets fly

“At some point, this stock market run is going to run into some profit-taking, for one reason or another,” he said. “As a hedge, gold’s definitely still the best viable alternative for high exposure to global equity positions.”

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Mysterious Gold Trades of 4 Million Ounces Spur Price Plunge

Trades that moved about 4 million ounces of gold in a matter of minutes awakened the precious metal from its slumber.

After 11:10 a.m. on the Comex in New York almost 40,000 contracts, each representing 100 ounces of the metal, traded in a span of 10 minutes. That triggered a sell-off, sending prices down as much as 1.1 percent.

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Friday, November 10 2017

The Strange Behavior of Gold Investors from Monday to Thursday

As the chart illustrates, one day really stands out: Friday. With an annualized return of 7.50 percent it reflects almost the entire annualized gain of 8.84 percent generated by the gold price over the time period under review.

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Thursday, November 9 2017

Gold Demand Trends Q3

The third quarter saw a 9% year-on-year (y-o-y) drop in gold demand to 915 tonnes (t). Year-to-date (y-t-d) demand was down by 12%. ETFs had another quarter of positive inflows, but at 18.9t, they fell far short of the 144.3t influx in Q3 2016. A softer quarter in the jewellery sector (-3%) accounted for 17t of the y-o-y decline. Demand from other sectors firmed: central banks bought a healthy 111t of gold (+25% y-o-y) while bar and coin investment strengthened by 17% (to 222.3t), albeit from a low base.

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Wednesday, November 8 2017

Why Doesn't Gold Get The Respect It Deserves?

In this report, we present a collection of empirical evidence we view as compelling support of gold’s productive role as a portfolio-diversifying asset.

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Bitcoin As Digital Gold

In this interview, Ammous explains why bitcoin is valuable, why it is so close to and in some respects even better than gold, and why it could usher in an era of sound money for the 21st century.

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