June, 2017

What Really Happened When Gold Crashed, Monday June 26?

Let’s establish three facts up front. One, the volume of contracts traded was not “millions” (as at least one conspiracy theorist is claiming). During the 1-minute window when the price of gold dropped from $1,254.10 to a low of $1,236.50 and recovered to $1,247, 18,031 August gold contracts traded. There was negligible volume in the […]

What Is the Gold Fundamental? Report 25 June, 2017

Steve Saville wrote a post this week, in which he proposed a model that indicates the fundamentals of gold. According to him, these are: (1) the real interest rate, (2) the yield curve, (3) credit spreads, (4) the relative strength of the banking sector, (5) the US dollar’s exchange rate, (6) commodity prices, and (7) […]

Monetary Metals Brings Back the Gold Forward Rate

MM GOFO™ is quoted daily on company website LONDON, June 23, 2017—Monetary Metals announces that it is now publishing the gold forward rate (GOFO), calculated using public market data. The MM GOFO™ has better than 0.99 correlation to the historical GOFO published by the London Bullion Market Association (LBMA). The company also publishes the silver […]

The Fed Rate Hike and Gold, Report 18 June, 2017

The big news this week comes from the Fed, which announced two things. One, it hiked the Fed Funds rate another 25 basis points. The target is now 1.00 to 1.25%, and there will be further increases this year. Two, the Fed to reduce its balance sheet, its portfolio of bonds. It won’t do this […]

The Anatomy of Brown’s Gold Bottom, Report 11 June, 2017

As most in the gold community know, the UK Chancellor of the Exchequer Gordon Brown announced on 7 May, 1999 that HM Treasury planned to sell gold. The dollar began to rise, from about 110mg gold to 120mg on 6 July, the day of the first sale. This translates into dollarish as: gold went down, […]

Stocks, Bonds, Euro, and Gold Go Up, Report 4 June, 2017

The jobs report was disappointing. The prices of gold, and even more so silver, took off. In three hours, they gained $18 and 39 cents. Before we try to read into the connection, it is worth pausing to consider how another market responded. We don’t often discuss the stock market (and we have not been […]

Monetary Metals Finances Scottsdale Precious Metals Silver at 5.75%

True silver lease finances vintage silver jewelry SCOTTSDALE, Ariz., June 1, 2017 – Monetary Metals announces that it has provided silver financing to Scottsdale Precious Metals. The gross interest rate is 5.75%. Monetary Metals purchased the inventory of Scottsdale Precious Metals, and leases it back. Monetary Metals provided silver to the company, and will receive […]