Just as the premium between physical and paper precious metals prices was starting to fade a little, the US Mint has decided to temporally halt all production at its West Point facility in New York because of the risk to employees from COVID-19.
By now it becoming clear to many that demand for precious metals, as the world 'turns', is far outpacing supply as major gold suppliers and sellers exclaim "there is no gold."
Finally, the paper silver market seems to be breaking down. At retail silver sellers like JM Bullion, prices are now about double the spot (rigged paper market) price. At the time of this writing, spot was $12.17 while 1-oz silver rounds were $21.52
Mike Maloney explains what is happening now over a year ago in February 2019 - Learn to Use FreedomsPhoenix 'Time Machine' (How did FreedomsPhoenix Know?... Ahhh... How did Not Know? How to use FreedomsPhoenix TO KNOW...)
Precious metals have plunged in the markets, but there is still demand for physical coins in the midst of the coronavirus outbreak, this according to Phil Streible, chief market strategist of Blue Line Futures.
According to ETF Trends, the extreme volatility in levered ETFs and their need to re-balance may have created a disconnect among gold mining stocks' valuation vs. their fundamentals, possibly causing today's outperformance.
"There is more or less a global lockdown" in the wake of the spread of COVID-19, said Kanarni, in an early Monday market update. "There was a mad rush for cash. Traders and investors alike sold everything which could generate cash."
While Beijing has been doing everything in its power to keep equity markets artificially supported to avoid a collapse in the precious "wealth effect" and investor sentiment, throwing the kitchen sink at equities and in addition to a record liquidity
And as we've been discussing, foreign central banks are starting to dump their US dollars for gold, scooping up hundreds of metric tons of the stuff...But silver is different.
Who would have thought that JPMorgan's precious metals trading desk is the functional equivalent of the mafia, and that its one-time leader, Blythe Masters, was the mafia's don?
Rick Rule, President & CEO of Sprott USA Holdings, speaks with us again on SBTV as we discuss why math alone is supporting the case for gold and silver, and dissect investor psychology to distinguish the habits of winners and losers in bull and bear
Palladium soared to a new record high over $1600 an ounce overnight, up 27% year-to-date, as global supply concerns dominate slumping-auto-demand fears.
Erik Prince, the founder of private security firm Blackwater, plans to raise as much as $500m to capitalize on the rush into metals required for batteries used in electric cars, according to the Financial Times.
A team of Chinese researchers from the Dalian Institute of Chemical Physics, at the Chinese Academy of Sciences in Liaoning, has transformed copper into a new material "almost identical" to gold, according to a new study published in the peer-rev
On November 9, the Canadian government amended rules for "non-mailable items" and snuck into those rules is a prohibition against mailing ". . . gold bullion, gold dust and non-manufactured precious metals . . ."
I have friends who are convinced that a cartel is manipulating the gold and silver markets. I have other friends who disagree, but today I'll hang with the former. And they plead a good case, with there being 100 times more paper gold than physical
Watch Streaming Broadcast Live:
Flote
LRN.fm
DLive
Live Chat Telegram
Share this page with your friends
on your favorite social network: