Monetary Metals Supply and Demand Report: 27 Apr, 2014

This was also a shortened week due to Easter Monday, not in the US but in the UK. This week, the prices of the metals were sagging until Thursday morning. Then I believe it was rumors of war in Ukraine sent the prices shooting up. Was this fundamentals suddenly shifting? Read on… First, here is [...]



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5 replies
  1. Rueffallais says:

    Keith,

    Great job as usual , the graph Gold bases long term is interesting however without any global vision of how it was in the past it is difficult to draw a conclusion, do you have that kind of graph in the past or another way to put it : where was let’s say for example in April 2013 the base 8 months away (Decem 2013).

    Thanks a lot for your work however

  2. johnchew says:

    Thanks, Keith (Dr. Weiner) for keeping these charts and sharing. GOFO also seems to indicate stress as well in the LBMA.

    This is my favorite “Gold” site because of the lack of screaming and hype. Gold to $500,000 or gold to $800 or $50.

    There are cracks in the financial system everywhere. I see dead people.

  3. Keith Weiner says:

    Thanks for your comments.

    I just noticed the formatting is messed up on this one. Sorry about that.

    Rueffallais: On April 1, 2013 the Basis for the Dec 2013 contract was 38 basis points, and for Dec 2014, it was 53 basis points.

    John: Thank you, and I agree, the way to look at the present crisis is one of cracks and fissures opening up everywhere. For example, last year, I wrote of the fissure between euros trapped in Cyprus (“cypros” I dubbed them) and normal euros. Backwardation is a crack in the system.

  4. johnchew says:

    Dear Keith:

    I do not quite understand the basis for a price higher 15% or a$17 handle on the nominal price of gold in US dollars. I understand that the REAL price of gold relative to Commoditites and financial assets could go up, but not necessarily the NOMINAL price in US dollars?

    For example, with a credit collapse, since gold is money, gold’s real value goes up relative to all other assets baring cash in the very short term. I sell copper, steel, stocks to flee into cash to pay my bills but then migrate to gold to store wealth.
    Thoughts?

  5. battiwallah says:

    Keith,

    Thanks for your educational articles. It’s good to find rational and reasoned arguments with commonsense and, as JohnChew stated, without the hype one sees so often.

    But I have to ask what is your justification for saying that “the stage is set for a 15% move higher in the gold price”? Where does the 15% come from? What is your reasoning here for the amount?

    Thanks,

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