Blog

Putting the Latest Silver Crash Under a Lens

On Thursday, July 6, in the late afternoon (as reckoned in Arizona), the price of silver crashed. The move was very brief, but very intense. The price hit a low under $14.40 before recovering to around $15.80 which is about 20 cents lower than where it started. Buyers of silver are rejoicing. They can now […]

Gold and Silver Price Drop of 3 July, 2017

The price of gold dropped from $1,241 as of Friday’s close to $1,219 on the close Monday, or -1.8%. The price of silver fell from $16.58 to $16.11, or -2.9%. It is being called a gold and silver “smash” (implication being that one party or a conspiracy is doing the smashing). Our goal is to […]

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 […]

Will Gold or Silver Pay the Higher Interest Rate?

This question is no longer moot. As the world moves inexorably towards the use of metallic money, interest on gold and silver will return with it. This raises an important question. Which interest rate will be higher? The Wrong Approach It’s instructive to explore a wrong, but popular, view. I call it the purchasing power […]

LBMA 2017 Forecasts (for the US dollar)

Every year the London Bullion Market Association (LBMA) surveys the top precious metals analysts of bullion banks and consultancy firms for their forecasts for precious metal prices for the year ahead. We look at things a little differently, and would say that the analysts are forecasting the value of the US Dollar, priced in gold […]

Silver Smoking Gun to Stop Dishonest Dealing

Last week ZeroHedge reported on the amended London Silver Fixing Antitrust Litigation which included damaging chat logs provided by Deutsche Bank that reveal collusion between bullion bank traders to “shade”, “blade”, “muscle”, “job”, “spoof” and “snipe” the silver market. While the amended complaint only provides selected examples from the 350,000 pages of documents and 75 […]

Gold Dividends Shows Demand for Receiving Income in Ounces

Earlier this week Resolute Mining announced that it was offering shareholders the option to receive their dividend payments in gold directly into a Perth Mint Depository account. The offer is limited to shareholders with more than 5,000 shares, as at a declared dividend of 1.7 cents per share that would only be $85 worth of […]

Swiss Customs Data Indicates Gold Flowing East to West

Switzerland has just released its gold import/export figures for July and the summary below from www.goldchartsrus.com shows another big month of net exports. Swiss gold flows are worth looking at because Switzerland is home to over 5000 tonnes of refinery capacity (see this BullionStar article for more detail) as well as being a major vaulting […]

Interview with BullionStar on intricacies between the physical and paper gold market

In April Keith and I met with Torgny Persson and Luke Chua from BullionStar while visiting Singapore to speak at the Mining Investment Asia conference. We both recorded interviews with them and the first one has just been released. Topics covered include: Trends in the physical gold market – flows into ETFs, impact of speculators […]

Arizona Considers Issuing a Gold Bond

The Arizona House of Representatives has convened an Ad Hoc Committee on Gold Bonds. The purpose is to explore if and how the state could sell a gold bond. This is an exciting development, as the issuance of a gold bond would be a major step towards a working gold standard. Yours truly is a […]