Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19)

Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Tue Sep 10, 2019 8:57 am

not vested anymore

Platinum prices surge as investors look to new safe haven

What’s happening? Platinum has received a boost in recent weeks from the surge in gold prices, with spot bids around $940/oz on September 6.

Negative interest rates have bolstered demand for gold and pushed prices sky-high in the process, driving investors towards platinum.

In the first half of 2019, investment demand in platinum amounted to 855,000 oz, driven by a surge in exchange traded fund (ETF) holdings, which gained 720,000 oz, the World Platinum Investment Council said last week. That interest comes on top of a market that is much tighter than it was six months ago.

What’s next? Platinum’s fortunes may be closely tied to the outlook for palladium, which faces glaring deficits.

In a 10 million oz palladium market, there was an 800,000 oz shortfall this year, and more than a 1 million oz potentially expected next year, according to WPIC.

The metal is currently trading at more than $1500/oz The organization believes platinum will be considered as a serious substitute for palladium in ICE vehicles. That could mean there is potential for platinum prices to be pulled upwards.

Source: Zero Hedge
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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Sun Dec 15, 2019 7:42 am

Gold - Higher. US$1480 from US$1470 from US$1471;
Support: $1240; $1150; $1050; Resistance: $1575; $1775; $1830;

a. Global 33k tons; US 8k t; China 5k t; IMF 3k t; Germany 3k t
b. Electronics, Coins, Central Banks Reserve, Jewellery etc.
c. 250 oz of pper contract for every oz of physical gold holding on Comex
d. China: PBOC has been buying gold over the past few months
e. Demand from Muslim countries as Gold is now a halal investment
g. Gold only occupies 0.03% of US investments. In 1981, it was 8%
h: India Demand: Since 2010, down each year. 2017 (700t); 2020 (900t)
i. China Demand: Since 2013, decreased 33% from 940t to 630t last year
j. China: Jewelry: +3% yoy; Industrials -10% yoy; PBOC: 2.4% forex reserves vs US 74%; Retail; Safe Haven: RMB lost 1/3 vs Gold since Jun 2007;
k. Global Demand: China +5%; India -8%;
l. Central Banks: +70% yoy; 33k tons; Poland, Turkey, Khazakhstan & India
m. U.S. government holds 260m ounces at book value of only US$42m
n. China: Reserves 185m oz; 400m oz ground; Output decreased 6% yoy; Added 100 tons since Dec 2018
o. Russia: US$109b worth of gold
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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Mon Dec 16, 2019 8:44 am

Asia Gold - Indian gold sold at discount as wedding demand disappoints

By Karthika Suresh Namboothiri and Rajendra Jadhav

BENGALURU/MUMBAI, Dec 13 (Reuters) - Gold dealers in India offered a discount this week due to plentiful supplies and slack demand during the wedding season, with other regions in Asia expecting improvement in buying ahead of the Christmas and Chinese New Year festivities.

Dealers in India offered a discount of up to $2 an ounce on official domestic prices, compared to a premium of $1 last week. Domestic prices include 12.5% import tax and 3% sales tax.

"Demand is modest from jewellers, but there is ample supply from refiners that are aggressively selling in the market," said Harshad Ajmera, a gold wholesaler in Kolkata.

India's gold imports in November jumped 78% from a month earlier to the highest level in five months as jewellers in the world's second-biggest market for the metal restocked after a fall in prices.

"Assuming good demand during wedding season, banks and refiners have raised imports in the last few weeks," said aMumbai-based dealer with a private bullion importing bank.

Weddings are one of the biggest drivers of gold purchases in India as bullion in the form of jewellery is a popular gift.

Demand is expected to recover in top consumer China, where traders charged premiums of $4-$6 an ounce over benchmark prices from $4-$5.5 last week.

"Demand has dried up compared to last week, but is still higher than late last month and earlier this month," said Samson Li, a Hong Kong-based precious metals analyst at Refinitiv GFMS.

The Chinese new year beginning on Jan. 25 is expected to lift demand starting the end of December, he added.

The Chinese festival is also expected to improve demand in Singapore, with many retailers offering promotions for bullion, Silver Bullion sales manager Vincent Tie said.

Sellers in Singapore charged premiums of $0.60-$0.80 anounce over the benchmark, versus last week's $0.60-$0.70.

"If (benchmark) prices come down a little bit, we will see some buying on the wholesale side," said Brian Lan, managing director at Singapore dealer GoldSilver, adding that lower prices would also support demand during Christmas.

"In HK, the shops are still opening, but people visit less," said d**k Poon, general manager, Heraeus Metals Hong Kong Ltd.

Source: Reuters
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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby winston » Thu Dec 19, 2019 8:48 am

US Official Gold Reserves Auditor Caught Lying

by Tyler Durden

For decades, a significant share of the metal was excluded from verifications for no apparent reason. And, the US government went to great lengths in withholding information and spreading false information about the audits, among other findings in documents obtained through Freedom of Information Act (FOIA) requests. All in all, these findings made me question the integrity of the auditor.

Conclusion

Altogether, the vast majority of Deep Storage vault compartments have been re-opened for dubious reasons.

After years of prosecuting, these are the facts as they lay in front of us:

1. The majority of Deep Storage vault compartments have been “re-opened” for unknown or dubious reasons.
2. Under oath, the auditor, Thorson, carefully avoided the subject of “re-opening” compartments.
3. In another written statement, the same auditor lied about the subject of “re-opening” compartments.
4. When this auditor was asked for an explanation regarding the “re-opening” of compartments, it could only muster an unfitting one.


Source: Zero Hedge

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Re: Gold, Silver & Other Precious Metals 16 (Aug 17 - Jul 19

Postby investar » Sun Jan 19, 2020 6:27 pm

HF Bridgewater bullish for gold, sees 2000$:

https://www.marketwatch.com/story/massi ... 2020-01-15
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