Category Archive: 6a) Gold & Monetary Metals

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Aplanando la economía «por el virus»

2020-03-20

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2020-03-20

Escribo esto el 18 de marzo, después de haber visto un cambio de 180 grados en la forma de pensar sobre las enfermedades contagiosas. Anteriormente, poníamos a los enfermos en cuarentena y respetamos el derecho de los sanos a seguir con sus vidas. Ahora estamos al borde de la ley marcial. En nuestro afán por combatir el coronavirus, estamos cerrando los viajes, las reuniones públicas, los restaurantes, etc.

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Don’t Panic – Prepare

2020-03-18

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2020-03-18

◆ Markets have collapsed around the world as we predicted as the ‘Giant Ponzi Everything Bubble’ meets the massive pin that is the coronavirus’ impact on already vulnerable indebted economies. ◆ Stocks have crashed and bond markets and banks may be next … “bank holidays”, bail-ins and currency resets are likely

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Is Now a Good Time to Buy Gold? Market Report 16 March

2020-03-16

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2020-03-16

We got hate mail after publishing Silver Backwardation Returns. It seems that someone thought backwardation means silver is a backward idea, or a bad bet. “You are a *&%#! idiot,” cursed he. “Silver is the most underpriced asset on the planet,” he offered as his sole supporting evidence. He doesn’t know that backwardation means scarcity, not that a commodity’s price is too high.

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Gold Hedging Stock Market Crash: Euro Stoxx -6 percent, FTSE -5.7 percent and DAX -5.6 percent

2020-03-15

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2020-03-15

Time of Crisis, 2019-2020
◆ Stock markets around the world are collapsing today as the financial and economic implications of the impact of the pandemic on already massively indebted companies and governments is realised.◆ Investors are liquidating en masse risk assets from equities to industrial commodities, while gold has held its ground.

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Gold Gains As Bank of England Slashes to Emergency Rate of 0.25percent and ECB Warns Of 2008 Style “Great Financial Crisis”

2020-03-12

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2020-03-12

Spot Gold Price USD/oz
◆ Gold prices rose by 0.6% today as the Bank of England slashed rates in an emergency move to 0.25% and the ECB looks set to follow as it warned of a 2008 style crisis overnight. ◆ The Bank of England slashed its main interest rate to 0.25 percent this morning in a emergency move to combat the fallout from the coronavirus outbreak on the UK economy.

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Gold Surges 3 percent After U.S. Fed’s First Emergency Rate Cut Since 2008

2020-03-06

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2020-03-06

Gold 2020 performance
◆ Gold surges 3% and has largest daily gain since June 2016 as the Fed delivers a surprise emergency rate cut, the first since 2008 ◆ Gold has gained over 10% in dollars and by more in other currencies so far in 2020 and along with U.S. Treasuries, it is a one of the best performing assets in 2020 as stock markets globally fall sharply (see 2020 Asset Performance table)

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Socialism and Gold

2020-03-04

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2020-03-04

Most people assume that the central bank prints money when it buys bonds. They further assume that this increase in the quantity of money causes an increase in the general price level. And, this leads them to assume that the value of the money is 1 / P (P is the general price level). Therefore, when the central bank prints money to buy bonds, it is diluting the value of the money held by everyone—in proportion to the amount printed divided by the...

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Silver Backwardation Returns, Gold and Silver Market Report 2 March

2020-03-02

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2020-03-02

Silver Spot Price Bid-Offer Spread
The big news this week was the drop in the prices of the metals (though we believe that it is the dollar which is going up), $57 and $1.81 respectively. Of course, when the price drops the injured goldbugs come out. We have written the authoritative debunking of the gold and silver price suppression conspiracy here. We provide both the scientific theory and the data.

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Goldman: 3 Key Reasons Why We Are Bullish On Gold

2020-02-29

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2020-02-29

10 Year Gold Price in USD/oz
On “Bloomberg Commodities Edge”, Bloomberg’s Alix Steel and Naureen Malik talk with Jeff Currie, global head of commodities research at Goldman Sachs. They discuss Goldman’s bullish stance on gold.

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Gold May Rise To $2,000/oz This Year Due To Strong Coin and Bar, ETF and Central Bank Demand

2020-02-26

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2020-02-26

IGTV interviewed Mark O’Byrne, Research Director at GoldCore about the outlook for gold and silver bullion. He is bullish on both precious metals in the medium and long term. The fundamentals are very strong with strong central bank demand and ETF gold holdings reaching an all time record high due to deepening political and economic risks.

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Widening Bid-Ask Spreads, Gold and Silver Market Report 17 February

2020-02-17

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2020-02-17

Gold Term Structure
The price of gold rose $14 and the price of silver fell $0.07. The gold-silver ratio rose further with this price action. Welcome to our new Gold and Silver Market Report, or “Market Report” for short. We are separating this from the economics essay, which was attached for many years. As they used to say in many toy commercials of yore, “batteries sold separately”—or in this case essays.

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Gold Coins Worth £80,000 Found In Retiree’s Drawers In Cottage: “It Was Mind-Blowing. I Felt Like a Pirate in a Grotto”

2020-02-14

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2020-02-14

Gold coins including gold sovereigns found in drawers of deceased retiree’s cottage sell at auction for £80,000. ◆ British gold coins including gold sovereigns from the Royal Mint found in drawers and cupboards of cottage fetch £80,000; one British gold sovereign found in a sugar bowl. ◆ Auctioneer John Rolfe expected little before he entered damp, rat-infested property near Stroud.

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Gold Consolidates Near Six Year Record Highs At $1574/oz; WHO’s ‘Tip of the Iceberg’ Virus Warning

2020-02-12

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2020-02-12

Gold Holds Gains as Virus fears boost demand for havens, 2019-2020
Gold climbed for a fourth day as investors weighed the unfolding coronavirus crisis, including a stark warning from the head of the World Health Organization about the potential for more cases beyond China and signs the disease is spreading in the key Asian trading hub of Singapore.

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Central banks weigh up response to Libra and bitcoin

2020-02-10

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2020-02-10

Central banks are contemplating a response to alternative money systems, such as bitcoin or Libra, with new digital versions of their own currencies. They go by the name of Central Bank Digital Currencies, or CBDCs. Libra’s stablecoin project launched in Geneva last year was a “watershed” moment that “kicked everyone in the pants”, Michael Sung, a professor at Fudan University, told the recent Crypto Finance Conferenceexternal link (CfC) in St...

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Alabama House Considers Eliminating Income Taxes on Gold and Silver

2020-02-08

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2020-02-08

Representative Sorrell has introduced House Bill 122, a tax-neutral measure to exclude from gross income any net capital gain and any net capital loss derived from the exchange of precious metals bullion. Policies that penalize savers in precious metals reduce the likelihood that Alabama citizens will take prudent steps to insulate themselves from the inflation and financial turmoil caused by the Federal Reserve.

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“Smart Move” By Prudent Investors Is To Diversify Into Gold

2020-02-07

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2020-02-07

With no opportunity cost to holding a zero-yield asset such as gold, investors increasingly are adding it to their portfolios as a hedge. ◆ Gold retains its intrinsic value, something no paper currency has managed to do over history. ◆ Gold is insurance. Insurance isn’t supposed to make you rich; it’s supposed to keep you from being poor.

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Gold Falls 0.6percent After Having A Seven Year Weekly High Close and 4percent Gain In January

2020-02-04

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2020-02-04

Spot Gold Price
Gold falls from seven year high weekly close ◆ Gold prices fell 0.6% today after reaching a seven year weekly high close at $1587.90/oz on Friday, gold’s highest weekly price settlement since March 2013, a 4% gain in January and its second straight monthly climb.

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Monetary Metals Gold Brief 2020

2020-02-03

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2020-02-03

Gold Fundamental Price
We apologize for not posting articles during January. We have been busy, and going forward will publish a separate Market Report every Monday morning plus macroeconomics essays later in the week, as time permits.

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Hawaii Representatives Consider Ending Taxation on Sound Money

2020-02-01

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2020-02-01

Introduced by Representative Okimoto (R-36), House Bill 1830 removes sales and use tax against gold and silver bullion and currency in Hawaii. Under current law, Hawaii citizens are discouraged from insuring their savings against the devaluation of the dollar because they are penalized with taxation for doing so. Passage of this measure would remove disincentives to holding gold and silver for this purpose.

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Peru cracks down on illegal gold mining

2020-01-31

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2020-01-31

Wildcat mining has devastated large chunks of the Peruvian Amazon, where gold is extracted and makes its way to the refineries and banks in Switzerland.swissinfo.ch visited the southeastern region of Madre de Dios and spoke to artisanal miners who have benefited from the gold rush to educate their families and create jobs, as well as those who have fallen afoul of the law.

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