Gold, Silver & Other Precious Metals 18 (Jan 23 - Dec 25)

[behappyalways]

Visualizing 30 Years Of Central Bank Gold Demand
https://www.zerohedge.com/commodities/v ... old-demand

[winston]

Is Silver the Next Gamestop? How Retail Investors Challenged Wall Street Giants Again

by Henry Stater

A group of retail investors from the Reddit forum r/WallStreetBets (and the spinoff called r/WallStreetSilver) set their sights on the silver market, attempting to challenge Wall Street giants with a so-called "silver short squeeze."

Redditors thought that the silver market was particularly susceptible to a short squeeze because they believed commercial COMEX traders were holding obscured, large short positions.

Source: Benzinga

https://finance.yahoo.com/news/silver-n ... 03423.html

[behappyalways]

Traders are way too optimistic about gold in the short-term

https://mobile.twitter.com/Mayhem4Marke ... 9910437888

[winston]

Central Bank's Gold Demand

In 2022, central bank gold demand was the highest on record, with these institutions purchasing more than 1,100 tons of gold worth approximately $70 billion.

China acquired 62 tons of gold, raising its total to more than 2,000 tons for the first time.

Other central bank buyers were Turkey (148 tons), Egypt (47 tons), Qatar (35 tons), Iraq (34 tons), India (33 tons), the United Arab Emirates (25 tons), and Oman (2 tons).

Central banks typically buy gold to balance their forex reserves, diversify their portfolios, and hedge against fiat currencies.

Our most recent annual central bank gold survey highlights two key drivers of central banks’ decisions to hold gold: its performance during times of crisis and its role as a long-term store of value.

Source: Epoch Times

[winston]

vested

Gold eyes record high as US$2000 surge holds

Gold held its surge to a 13-month high and may test its record price, helped by a falling dollar, increasing haven bets and speculation aggressive monetary tightening in the US is nearing an end.

A falling greenback this week has been another positive for non-interest-yielding bullion, which could test its record high of US$2,075.47 reached in August 2020.

Bullion is also enjoying a “safe haven premium” due to financial fears including the recent banking crisis and geopolitical tensions.

Friday’s monthly jobs report will be closely watched for more signs the US economy is slowing.

Silver edged up after surging 4.3 percent on Tuesday, while platinum also rose, and palladium slid.

Source: Bloomberg

https://www.thestandard.com.hk/breaking ... olds%C2%A0

[behappyalways]

Central Bank Gold Buying Shows No Sign Of Slowing Down
https://www.zerohedge.com/geopolitical/ ... owing-down

[behappyalways]

美經濟混亂中發光 投資者奔向高穩定黃金 TVBS文茜的世界財經周報 20230409
https://m.youtube.com/watch?v=J_osO6ETnPw&t=1s


When Will All The Gold Run Out?
https://www.iflscience.com/when-will-al ... -out-68344

[behappyalways]

Silver Vs Stocks: Comparing Performance During Recessions
https://www.zerohedge.com/markets/silve ... recessions



Silver Demand Set Records In Every Category In 2022
https://www.zerohedge.com/commodities/s ... egory-2022

[behappyalways]

An interesting angle from Goldman on why gold has been performing so well in the face of stubbornly high real rates.

Central Bank demand as a % of gold annual supply:

2010s: ~10%
2022-2023: ~30%

Central Banks are bidding gold up and bought another 83 tons in February,

https://mobile.twitter.com/MacroAlf/sta ... 0683974665

[winston]

vested in GDX

These Stocks Look Vulnerable to a Sell-Off

by Jeff Clark

In October, the gold stocks were violently oversold and almost no one wanted anything to do with them.

Today, the gold sector is wickedly overbought. And almost everyone – including most talking heads on financial television – is bullish on the sector.

Bullish Percent Index for the gold sector (BPGDM)

BPGDM is approaching 80. It’s nearing the sort of overbought conditions that lead to a sell signal.

Source: Jeff Clark Trader

https://dailytradealert.com/2023/04/23/ ... -sell-off/