Tag Archive for: basis

Silver Crash Makes Silver Trash?

Silver Price Crash September 29, 2021

The price of silver dropped a dollar, or over 4% on Wednesday. Some voices in the precious metals press want you to think that there is only one conceivable cause. We should coin a term for this form of logical fallacy: argumentum ad ignorantia. This is an argument of the form: “the cause must be […]

Where do gold and silver prices go from here?

Where do gold prices go from here

One way to look at the price of gold, is that it dropped from its high around $1,900 in early June. Another way is to zoom out, and look at the big picture. Here is a 10-year chart of gold and silver prices. For over four years, after the peak around $1,900 ten years ago […]

Silver Rorschach Test

Silver Rorschach Test

On Friday, August 6, the price of silver fell from around $25.15 to a low around $24.25, or -3.6%. We were told, also on Friday, that this drop occurred at a “weird hour when there was no liquidity.” In fact, it happened shortly after noon in London. We were earnestly assured that this proves the […]

Gold’s Gone Wild!

Supply and Demand Report

Headline’s gone wild today. For example, one public gold company CEO tweeted: “Today, some banks failed to deliver physical in the COMEX bar EFP. As a result, these banks suffered large losses…There remains a big shortage in physical in the COMEX denomination. So, rumors are, the COMEX will announce a force majeure…” Ignoring his sloppy […]

Widening Bid-Ask Spreads, Gold and Silver Market Report 17 February

The price of gold rose $14 and the price of silver fell $0.07. The gold-silver ratio rose further with this price action. Welcome to our new Gold and Silver Market Report, or “Market Report” for short. We are separating this from the economics essay, which was attached for many years. As they used to say […]

Thoughtful Disagreement with Ted Butler – Gold Basis

This article follows on from Keith Weiner’s response to Ted Butler’s Thoughtful Disagreement challenge. Below is a graph of all 130 gold contracts since February 1996, aligned by contract age in terms of number of days until expiry on the X axis of the chart and basis in percentage per annum on the Y axis. […]

Thoughtful Disagreement with Ted Butler

Dear Mr Butler: In your article of 2 October, entitled Thoughtful Disagreement, you say, “someone will come up with the thoughtful disagreement that makes the body of my premise invalid or the price of silver will validate the premise by exploding.” I will take you up on your request. You state your case in this […]

Introduction to the Monetary Metals Supply and Demand Report

Supply and Demand Report

The Monetary Metals Supply and Demand Report is the only accurate picture of the fundamentals of the gold and silver markets. We released a video that presents some of these ideas in an engaging format. We provide a weekly letter based on data and analysis of the monetary metals: gold and silver. This article is […]