Friday, February 22 2019

Gold – here’s why it just might be different this time

But yesterday he was emailing me specifically about physical supply.

It is tight, he says. Demand from investors is high, while coins and bars in the UK are in short supply. As a result, Sharps Pixley is speaking with the major Swiss refineries for additional supplies. It is also launching a media campaign inviting anybody with old bars or coins they might want to sell, offering to pay 99% of the fine gold content.

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Gold RSI Hits The Highest Since 2011

Most gold bull runs typically start slowly as it faces the headwinds from good selling by frustrated longs who see price strength as an opportunity to exit … once we are through that gold is unfettered for a faster move higher as prices go inelastic. We seem to be in that phase now.

The high RSI suggests that gold is due a temporary pause - but it also suggests to us that it is brewing for the mother of all moves higher. We just need to breach the $1360 level and we are off to the races.

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Thursday, February 21 2019

US Gold Imports & Exports

US flows for November

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Wednesday, February 20 2019

India Gold/Silver Imports

Indian imports for December

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Russian Gold Reserves

Russia adds 200,000oz to it's reserves in January

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Tuesday, February 19 2019

Australia’s gold at the Bank of England – Extended Q & A

For the commentary, RT actually asked me quite a few interesting questions on both the Australian gold and other related gold topics. Since both the extended questions and the answers might be of interest to readers, we have decided to publish below the full set of questions and answers in Q&A format, which are as follows:

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The utterly unbelievable scale of U.S. debt right now

U.S. debt has been steadily climbing ever since the Sept. 11 attacks, but under Obama it was sent into overdrive. Not all of this was Obama’s fault; the Great Recession, ongoing Asian wars and a boom in entitlement spending on retiring Baby Boomers all helped swell the tab. But still, in eight years of the Obama presidency, the U.S. national debt jumped from $11.1 trillion to $19.85 trillion. Coincidentally, this $8.75 trillion debt surge is the same as the combined value of all the gold ever mined. Every nugget pulled out of the Klondike, every ounce plundered from the Aztecs, every gold bar leach-mined out of Australia: It all adds to about 190,040 tonnes or 6.7 billion ounces. At the current per-ounce price of about $1,300, the world’s goal hoard would be just enough to pay off the U.S. debt accumulated between 2009 and 2016.

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Hey UK! It's not just Venezuela, what happened to Australia's gold?

The Reserve Bank of Australia (RBA) claims to have 80 tons of the precious metal. Nearly all of the country's gold bars are reportedly stored in a bailment arrangement, in an allocated gold account, at the Bank of England vaults in London, with a very small amount of gold stored at the RBA headquarters in Sydney. However, there are questions whether the gold is still there, according to Manly.

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EuroStat Gold Imports & Exports

Euro flows for December

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Monday, February 18 2019

Chinese SGE Gold Withdrawals

SGE withdrawals for January

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Turkey Gold/Silver Imports

Flows for January

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Saturday, February 16 2019

Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Thursday, February 14 2019

ICE To Implement "Flash Boys" HFT Speed Bump To Stop Gold, Silver Manipulation

According to the CFTC, the Atlanta-based exchange plans to introduce a 3-millisecond trading delay, one which it calls Passive Order Protection. What is even more interesting is where said delay will be implemented: according to the regulatory filing, the speed bump will be first used on exchange's gold and silver futures contracts "where the ICE currently does very little business", effectively confirming that the gold and silver futures market is where market manipulation by algos has been most rife (something which we already knew thanks to such chronic market manipulators as Deutsche Bank and UBS).

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Wednesday, February 13 2019

Italy’s Gold enters the Political Fray. But who really owns it?

It would be more productive in the first instance for Italian politicians to push for a full physical independent audit of all the Italian gold, both the 1200 tonnes of gold which is said to be stored under the Bank’s headquarter’s in Rome, as well as the ‘other half’ of the gold, which the Bank of Italy claims is mostly stored at the Federal Reserve vaults in New York (FRBNY), but which no one, including Italian politicians has ever seen.

This should also include publication of a full ‘weight list’ of all the Italian gold, including every refiner serial number of every gold bar claimed to be held. Because if you don’t have the gold, then you can’t sell it. And the first proof that you have the gold is a full independent physical audit.

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The Consensus Is Clear: You Should Own Gold Now

With sentiment for the precious metals returning, outlook on prices turning bullish, and central banks piling on gold reserves, now is a great time to own the metals, according to panelists on the Ultimate Gold Panel.

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Tuesday, February 12 2019

Gold Investor

In this edition of Gold Investor, we look back to the financial crisis; we consider the effect on the gold market since then and we look to the future.

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Following the money in commodities leads to gold mines

The common theme at two mining investment conferences held last week in Cape Town was that putting cash into gold mining companies offers the best prospects in the commodity space.

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Salvini Proposes Seizing Control Of Italy's Gold Reserves From Central Bank

The idea to liquidate Italy's gold in order to fund higher state spending appears to have emerged from Beppe Grillo, the co-founder of Five Star, who last September wrote that "It would allow us to finally put an end to this annoying story about the fact that ‘there is no money’", adding "why do citizens have to sell their necklaces and not the state?”

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The $12 trillion federal debt bombshell

“Paper money is now being created wholesale throughout the world. Stated simply, all paper currency is now valued against each other. But more important, ultimately ALL paper is ultimately valued against the only true, intrinsic money – gold. In world history, no irredeemable paper currency has ever survived. Since all the world’s currency is now irredeemable (in gold), this means that in the end, the only form of money that will survive is real intrinsic money – gold. It’s not a question of whether gold will survive, it’s a question of when the world’s current paper money will deteriorate and finally die. I can tell you that irredeemable paper will not survive – but obviously I can’t tell you when it will die. The timing is the only uncertainty.”

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Novem is a blockchain-connected hoard of gold

“Novem is a better way to buy gold, with all purchases verified by third-parties at the time of purchase, secure storage with third-party auditing, and at the time of sale. The differentiation from other gold-backed coins is 100% liquidity and ‘old economy’ precious metals industry certifications,” said a Novem spokesperson.

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