Tuesday, March 19, 2024

Silver Poised to Play Catch Up to Gold

by Clint Siegner, Silver Seek:

Gold’s breakout to new all-time nominal highs is making headlines. On Friday, the price settled at just under $2,200/oz, after gaining almost $100/oz for the week.

Silver actually outperformed gold on a percentage basis. The white metal gained $1.17/oz, or 5%, as compared to gold’s 4.5% gain.

The difference is that silver is stuck in the middle of the range where it has traded for the past four years. It is roughly $5/oz below its 2020 high and $25 below its all-time high.

LOUISIANA’S BULLION BILL AND SOME NECESSARY CLARIFICATIONS

by Joseph P. Farrell, Giza Death Star:

After last week’s blog about the South Dakota bullion and unit-of-account bill, I received an  email from Catherine Austin Fitts that the movement to state bullion depositories might be the latest gimik and squeeze play from the banksters.  We’ll get to why that possibility should never be ignored in a moment, because the Louisiana bill, as written, contains some telltale signs that her misgivings are well-founded.  But I also want to use this opportunity to clarify my thinking for the record, and to remind readers here that if you read my individual blogs and do not contextualize them within the wider body of my thinking about financial and physical systems, that you will be bound to misinterpret and forget what I’ve stated on previous occasions. Absent any repudiation by me, those earlier statements still form part of my thinking.

Two Types of Price Rally

by Craig Hemke, Sprott Money:

COMEX gold and COMEX silver have both seen terrific price rallies over the past two weeks. However, not all rallies are the same, so let’s take time today to dissect both types.

Over the past seven trading days, precious metal prices have soared, led by COMEX gold. What set off these rallies? Primarily, two things:

  1. Fed Governor Christopher Waller gave a speech on Friday, March 1, where he outlined his thoughts on the future of monetary policy and quantitative easing. If you missed the speech, a great summary can be found at this link: https://www.fastbull.com/newsdetail/fed-waller-reversed-operation-twist-3115363_0

VINCE LANCI: CENTRAL BANKS KEEP BUYING MORE GOLD

from Arcadia Economics:

TRUTH LIVES on at https://sgtreport.tv/

Gold’s Got the Midas Touch Back

by Jim Rickards, Daily Reckoning:

After two years of trading in a 20% range between $1,600 and $2,000 per ounce, gold finally broke out to the upside, closing at a new all-time high of $2,126 per ounce on March 4.

Better yet, if you’re a gold investor, gold has held its ground around $2,100 per ounce since breaking that ceiling (gold’s trading at around $2,187 today).

Gold Hits NEW All-Time High – And “Experts” Aren’t Sure Why

from Birch Gold Group:

This week, Your News to Know rounds up the latest top stories involving precious metals and the economy. Stories include: Gold notches another all-time high over $2,180, analysts are acknowledging that gold’s surging price confuses them and understanding bitcoin vs. gold comparisons.

How Close Should Your Wealth Be?

by Jeff Thomas, International Man:

Recently, an eminent gold advisor, whom I know and have a high regard for, stated that holders of precious metals would be well served by keeping their metals in a remote location, saying, “Distance equals security.” (He lives in the US and recommends storage in New Zealand, as it’s as far away from him as possible.)

Another prominent metals advisor, whom I also know well and respect, contacted me after the release of this statement to say that he doesn’t necessarily agree with the idea, even though he himself stores gold in a country outside his own.

Yet More Silver Departs $SLV on Friday

by Ted Butler, Silver Seek:

Gold’s quiet rally that began at the start of Globex trading in New York on Thursday evening was turned lower around 8:40 a.m. China Standard Time on their Friday morning — and its low tick was set at exactly 11 a.m. CST. It then wandered quietly higher until at or minutes before the 10:30 a.m. morning gold fix in London — and was sold a tiny bit lower from there until the jobs number hit the tape. The gold price went ‘no ask’ — and ‘da boyz’ appeared in seconds — and had the price back to its pre-8:30 a.m. price by 9:15 a.m. It crawled quietly higher from there until it took off anew starting a few minutes before 12 o’clock noon — and the commercial traders of whatever stripe reappeared — engineering it brutally lower until around 2:15 p.m. in after-hours trading in New York. Its ensuing rally ran into ‘something’ about fifteen minutes later– and from that juncture it crept very quietly higher until the market closed at 5:00 p.m. EST.

Economic Earthquake Ahead? The Cracks Are Spreading Fast

from Birch Gold Group:

One of my favorite false narratives floating around corporate media platforms has been the argument that the American people “just don’t seem to understand how good the economy really is right now.” If only they would look at the stats, they would realize that we are in the middle of a financial renaissance, right? It must be that people have been brainwashed by negative press from conservative sources…

I have to laugh at this notion because it’s a very common one throughout history – it’s an assertion made by almost every single political regime right before a major collapse. These people always say the same things, and when you study economics as long as I have you can’t help but throw up your hands and marvel at their dedication to the propaganda.

What Dollarization Says About Returning to the Gold Standard

by Peter Schiff, Schiff Gold:

Everyone’s heard of Javier Milei, the new president of Argentina, called by Fox News the world’s first libertarian president. He has been in the news for his denunciation of leftism, Marxism, and the sprawling bureaucracy that has trapped Argentina in debt. He’s also taken aim at run-away inflation in Argentina. Inflation in the last year was over 200% in Argentina, a rate that the United States hasn’t reached, even with Biden-levels of inflation.

Record Highs: Unprecedented Surge in Gold and Bitcoin Prices with Craig Hemke

by Kerry Lutz, Financial Survival Network:

In this video, Craig Hemke and I delve into the recent unprecedented surge in the prices of gold and Bitcoin, analyzing the factors contributing to their record highs. We explore the economic, geopolitical, and market dynamics driving investors towards these assets as safe havens and speculative investments. Our discussion covers the impact of inflation, interest rate changes, and global uncertainties on the appeal of gold and the digital gold, Bitcoin. Craig provides his insights into the sustainability of these price levels, potential future movements, and strategies for investors navigating this volatile landscape. We also examine the broader implications of these price increases on the economy, traditional investments, and the emerging digital currency market. Whether you’re a seasoned investor or just curious about the recent hype, this video offers valuable perspectives on the shifting tides of global finance.

Gold Hits New All-Time Record High

by Peter Schiff, Schiff Gold:

Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold prices was notably recorded without the typical surge in public buying that usually accompanies such milestones. Instead, there has been a consistent outflow from gold ETFs, suggesting that the retail sector has been selling rather than accumulating during this rally.

Biden Threat to Seize Russian Assets Sends Gold to All-Time Highs

by Mike Maharrey, Gold Seek:

The United States enjoys the privilege of issuing the world’s reserve currency. But it increasingly uses that privilege as a hammer to shape foreign policy.

Could Americans end up feeling the blows from that hammer?

Economist and the author of Currency Wars Jim Rickards thinks that’s already happening.

After gold futures closed at a record high last Friday, the intraday spot price of gold surged over $2,100 per ounce on Monday, knocking on the door of its all-time high of $2,135 set last December.