Saturday, June 23 2018

Gold/Silver - Futures - COTs - Commitment of Traders

COTs this week

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Manipulation of Gold & Silver by Bullion Banks

Why is this important? Because despite what everyone tells you to the contrary, markets are controlled, and Gold and Silver in particular. Technicals, sentiment, and positioning are important tools, but you need to be aware of the risk of manipulation undermining the message these tools are telling you.

So why bother with such tools at all? Why buy Gold or Silver? The banks use the same tools we do to determine when to force prices lower, which is why their behavior is predictable. Second, manipulation has an expiration date, as demonstrated in the 2000s and 1970s in particular. They cannot stop metal prices going up forever, and you want to be around for when Gold and Silver soar next. They are the most undervalued assets out there today. Plus, I follow the smart money. And China, Russia, and JP Morgan have been loading up on physical metals for years now. Central banks around the world are also repatriating their Gold from the U.S. in preparation for some major event to come. I want to be long, too, when that event occurs.

In summary, manipulation in metals is undeniable. It has become so chronic that it is now obvious and therefore predictable. Unfortunately, it can temporarily undermine or render traditional analytical tools as useless. You need to be aware of this to protect yourself when it is about to happen again, because it will.

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Friday, June 15 2018

The World's Largest Gold Fund Is Getting a Cheaper Little Brother

The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the U.S., including SPDR Gold Shares known by its ticker GLD the $35 billion market leader, which the council also started.

Investors will soon be able to get a piece of that action for a lower price. The SPDR Gold MiniShares Trust, which will trade as GLDM, will cost just 18 basis points in management fees, or $1.80 for every $1,000 invested, the filings show. By comparison, GLD charges $4 for every $1,000 invested.

The fund will also start trading with a significantly lower share price than GLD, allowing investors to buy in smaller increments, the documents show.

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Why a seemingly run-of-the-mill announcement yesterday by Fed chairman Powell might signal a major turning point for the gold market.

Obviously, a healthy number of market participants share our view that the Fed is interested in stimulating the money supply and inflation, or in the very least, interested in letting the markets know it will stay out of the way should both begin to increase. That message was received loud and clear, though it might take some time for the impact to be completely understood and priced into various markets.

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Thursday, June 14 2018

Top 10 Gold Producing Countries

Gold is one of the rarest elements in the world, making up roughly 0.003 parts per million of the earth’s crust. But how much gold is the world digging up each year and what countries produce the most?

In 2017, global gold mine production was a reported 3,247 tonnes. This figure is down 5 tonnes from the previous year and marks the first annual drop since 2008, according to the GFMS Gold Survey 2018. The driving forces behind the drop in output were environmental concerns, crackdowns on illegal mining operations and rising costs.

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Bitcoin nipping at gold demand

For centuries, gold has held a unique role: as a form of currency, a store of value and sometimes a speculative or alternative asset to stocks and bonds. No other asset has managed to retain such an allure over time.

And over the centuries, there have been other pretenders for gold's throne (salt, florins or ducats, anyone?) but none has survived. The latest potential competitor for gold may be bitcoin, the cryptocurrency created in 2009 as open-source software for a decentralized form of payment.

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Monday, June 11 2018

Not All Forms Of Gold Ownership Are Equal

This week, the Goldnomics podcast ranks the safest ways to own gold to the least safe. The safest is, of course, owning physical gold bars. The next safest is to own allocated and segregated gold, which is owning physical gold kept in a separate physical account. The next level of safety is unallocated gold, then there are physically backed-ETFs and non-physically backed ETFs.

Further out the safety spectrum is owning shares of gold miners, which trade like equities (because they are). However, the vast majority of investors own gold via an ETF.

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Gold Investing Goes AWOL As Google Searches To 'Buy Gold' Hit 11-Year Low

Gold investing is often seen as a barometer of fear and financial stress.

But while the bullion price has responded to 2018's stock market drops and geopolitical tensions so far, appetite for gold is in fact weakening among private investors overall.

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Saturday, June 9 2018

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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Texas Gold Investors Just Got Their Own Fort Knox

If you live in Texas and have any extra gold bars, coins and/or jewelry lying around that need safekeeping, you’re in luck. The Texas Bullion Depository, the first of its kind in the U.S., officially opened to the public in Austin this week, putting a cap on three years of planning and construction. The private firm managing the facility, Lone Star Tangible Assets, calls it the “world’s most advanced depository.”

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Friday, June 8 2018

Chinese Gold Reserves

Chinese reserves for May

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Thursday, June 7 2018

Too much gold around the house? Store your bling at Texas' new precious metals depository

Texans who have long stored gold and precious metals elsewhere can bring the bling back to their home state. The country's first state-administered precious metals depository, the Texas Bullion Depository, officially opened Wednesday in Austin.

Like other facilities that store precious metals, the Texas Bullion Depository insures them and has complex security measures to guard people's assets. Depositors can buy metals from a dealer and have them shipped directly to the depository, or send in what they already own.

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Venezuela central bank pays Citi $172 million to recover swapped gold

Venezuela’s central bank in April paid $172 million to U.S. bank Citigroup (C.N) to recover part of the gold it had put up as guarantee in a swap operation, according to two sources familiar with the situation.

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Chinese SGE Gold Withdrawals

Chinese withdrawals for May were 150.581 tonnes

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Perth Mint Coin Sales

Perth Mint sales for May

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Sharps Pixley Reduces SILVER Coverage

We regret to advise that we shall be significantly reducing our coverage of the SILVER markets this Friday - June 8th 2018.

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Scotiabank to scrap half its metals business

Canada’s Bank of Nova Scotia (Scotiabank) is limiting lending by its ScotiaMocatta metals unit as it embarks on a radical restructuring likely to halve the size of the business, sources familiar with the matter said.

Mocatta is the largest financier of the global precious metals supply chain, accounting for some 15-20 percent of lending to clients ranging from refiners and jewelers to carmakers and petrochemicals producers, industry sources say.

Those sources place the value of its leases, credit lines and consignment lending of precious metal at $8 billion.

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Monday, June 4 2018

Dignity Charts

There's a new Crypto Gold token called DIG: Dignity about to debut.

These charts show the volatility that will be in the tokens.

One to have & hold.

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Gold and the Monetary Blockade on Iran

With Donald Trump close to re-instituting economic sanctions on Iran, it's worth remembering that gold served as a tool for skirting the the last round of Iranian sanctions. If a blockade were to be re-imposed on Iran, might this role be resuscitated?

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