Premium Reports

Supply and Demand Report July 14, 2013

“Gold went up every day this week,” is how most people would say it. This would be cause for great cheer. Of course, we say it differently “the dollar fell every day this week.” Expressing it this way makes it clear that there is no cause for celebration.  As we see from looking at the […]

Monetary Metals Supply and Demand Report: July 7, 2013

The Gold Basis Report is fundamental analysis of gold and silver. The basis is a measure of availability of metal to the market. When the basis is high and rising, then metal is abundant. When the basis falls below zero, and the cobasis rises above zero (gold goes into backwardation) then that means danger (and […]

Monetary Metals Supply and Demand Report: June 30, 2013

The Gold Basis Report is fundamental analysis of gold and silver. The basis is a measure of availability of metal to the market. When the basis is high and rising, then metal is abundant. When the basis falls below zero, and the cobasis rises above zero (gold goes into backwardation) then that means danger (and […]

Monetary Metals Supply and Demand Report: June 23, 2013

The Gold Basis Report is the only fundamental analysis of gold and silver available. The basis is a measure of availability of metal to the market. When the basis is high and rising, then metal is abundant. When the basis falls below zero, the gold goes into backwardation then that means danger (and likely higher […]

Monetary Metals Supply and Demand Report: June 16, 2013

The Last Contango Basis Report The prices of the metals rose a bit during the week, especially on Friday. But as we can see in this chart, gold is still bouncing around the low made on April 15 and silver is still below.   One cannot truly understand the gold market in terms of the […]

Monetary Metals Supply and Demand Report: June 9, 2013

The Last Contango Basis Report To dollar thinkers, it looks like gold and especially silver got whacked this week. To those calculating their net worth in silver (if any exist today), this is how it looks.     The dollar went up to a new high for the move. It would seem that the pressures […]

Monetary Metals Supply and Demand Report: June 2, 2013

Gold is bouncing around near its post April 15 low, and silver is on it. Will the dollar break higher and thus bring more pain to the gold bugs? Will the dollar break down from here? Rather than looking at price action, we prefer to look at the fundamentals. The basis is a measure of […]

Monetary Metals Supply and Demand Report: May 26, 2013

On the week, the gold price went up about $30. Silver was up $0.11. The gold bugs may be wondering if it’s safe to come out now. One recurrent theme of ours is that it is exceedingly difficult to trade gold against the US dollar. Without leverage, it’s not possible to make a profit in […]

The Dollar is Going Up Part II

Meanwhile, the spread between the interest rate and the dividend yield or earnings yield makes an attractive arbitrage. If you are the CFO of a public company and your shares pay a 4% dividend and you can borrow at 2%, it is practically a “no brainer”. The problem is that incurring debt for no productive […]

Monetary Metals Supply and Demand Report: May 19, 2013

    The dollar gained 1.4g gold this week, which means gold price in dollars went down $88. This is another big move that will give a false sense of confidence to the Keynesians and Monetarists (one of the business news sites was crowing this week that “Keynes has won”). They are wrong. The strengthening […]