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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]