by Peter Schiff, Schiff Gold:
Gold-backed funds reported an inflow of gold for the third straight month in May, flipping global ETF demand positive on the year.
Globally ETFs added 19 tons of gold to their holdings in May. Gold-back funds held 3,478 tons of metal as of the end of the month. That represents a 6-ton increase on the year and is the highest level since October 2022.
Total ETF gold holdings remain 11% lower than their record high of 3,919t tons in October 2020.
by Harvey Organ, Harvey Organ Blog:
GOLD AND SILVER REVERSE YESTERDAY’S HUGE FALL WITH GOLD RISING BY $20.45 TO $1963.60//SILVER ROSE BY A HUGE $0.63 TO $24.24//PLATINUM HOWEVER WAS DOWN $7.80 TO $1015.10 WHILE PALLADIUM WAS ALSO DOWN $36.20 TO $1360.10//UKRAINE VS RUSSIA UPDATES ON THE NEW UKRAINE OFFENSIVE//COVID UPDATES//DR PAUL ALEXANDER/VACCINE IMPACT/SLAY NEWS/EVOL NEWS//USA JOBLESS CLAIMS SPIKE AGAIN/
by Craig Hemke, Sprott Money:
We’re not quite through the first half of 2023, but just for fun, let’s take a stab at what we might expect to occur in the second half, at least as it pertains to gold and silver prices.
It’s early June, and the next FOMC meeting is one week away. Will the Fed hike the fed funds rate another 25 basis points or will they pause and take time to assess the economic damage that has already been done? We can’t know the answer to that question, but whether they do or whether they don’t, the forecast for the remainder of 2023 will remain the same.
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED DOWN $22.15 TO $1943.15//SILVER CLOSED DOWN $.17 TO $23.44/PLATINUM CLOSED DOWN $13.60 TO $1022,90 WHILE PALLADIUM CLOSED DOWN $19.05 TO $1396.30/ANOTHER T.A.S.ORCHESTRATED RAID ON OUR PRECIOUS METALS//IMPORTANT READ FOR TODAY; TED BUTLER//BANK OF CANADA NO LONGER PAUSES AS IT RAISES INTEREST RATES BY .25%//UPDATES ON THE RUSSIAN DAM BLOW UP
by Peter Schiff, Schiff Gold:
A large sale by Turkey in April caused global central bank reserves to fall for the first time in over a year, even as central bank gold buying continued.
Official global reserves dropped by 71 tons in April, according to the latest data collected by the World Gold Council.
While the overall drop in global reserves was significant, it does not reflect an about-face by central banks and doesn’t likely signal a new trend. It was primarily the result of an 81-ton sale by the Central Bank of Turkey.
by Ted Butler, Silver Seek:
A set of readily-verifiable facts have combined to point to a stunning conclusion, namely, that thanks largely to enough people doing the right thing, that the federal commodities regulator, the Commodity Futures Trading Commission, may have also finally done the right thing when it comes to the decades-old COMEX silver price manipulation. If my assessment is correct, the most logical conclusion is that we may be at the end of the long-running manipulation and set to rocket higher in silver prices. Let me present the facts and leave it to you to decide for yourself.
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED UP $6.90 TO $1965.30 WITH SILVER ALSO UP 7 CENTS TO $23.61//PLATINUM WAS UP $2.30 TO DOLLARS TO $1034.20 WHILE PALLADIUM WAS DOWN $0.60 DOLLARS TO $1414.35//GERMANY’S RIGHT WING PARTY AFD GAINING IN POPULARITY//BIG STORY OF THE DAY: THE BOMBING OF THAT VERY STRATEGIC DAM IN KERSON AND THAT SENDS FLOODING DOWNSTREAM AND ALSO THROWS A HUGE SCARE OF A LACK OF WATER TO COOL THE NUCLEAR REACTOR SITUATED CLOSE BY//COVID UPDATES//DR PAUL ALEXANDER/SLAY NEWS/EVOL NEWS//CRE PROBLEMS IN THE USA RAGES ON
by Kerry Lutz, Financial Survival Network:
Kerry Lutz and Jeremy Cordon discussed Gold Backs, a form of commodity money that is split into a thousand pieces and wrapped in a protective layer to make it nearly impossible to counterfeit. Nearly half of all small businesses approached are interested in accepting Gold Backs. Since 2019, they have become the most successful local currency in American history. They are worth four dollars each and have a 5% spread on them, tighter than silver.
by Harvey Organ, Harvey Organ Blog:
GOLD FINISHED THE DAY UP $5.00 TO $1958.40//SILVER WAS DOWN 13 CENTS TO $23.54//PLATINUM HAD A GOOD DAY UP $31.35 WHILE PALLADIUM WAS UP ONLY $5.80 TO $1414.95//GOOD READING MATERIAL TODAY FROM MATHEW PIEPENBURG AND MIKE MAHARREY OF SCHIFFGOLD/BIS REPORT SHOWS THE USA RAISES THE AMOUNT OF GOLD BORROWED (136 TONNES) TO SUPPRESS THE PRICE//SEC SUES BINANCE AS CRYPTOS CRUMBLE//UKRAINE VS RUSSIAN UPDATES/COVID UPDATES/DR PAUL ALEXANDER//SLAY NEWS/EVOL NEWS/CORE FACTORY ORDERS UNEXPECTEDLY SHRINK
by Robert Lambourne, Gold Seek:
From the information contained in the recently published March 31 and April 30 statements of account of the Bank for International Settlements —
https://www.bis.org/banking/balsheet/statofacc230331.pdf
https://www.bis.org/banking/balsheet/statofacc230430.pdf
— the bank’s gold swaps can be estimated at 78 tonnes as of March 31 and 135 tonnes at April 30. These compare to the 136 tonnes estimated as of February 28.
by Harvey Organ, Harvey Organ Blog:
TAS INDUCED RAID ON GOLD AND SILVER TODAY: GOLD CLOSED DOWN $24.40 TO $1953.40//SILVER WAS DOWN $.23 TO $23.67//PLATINUM IS UP $1.80 TO $1002.95 WHILE PALLADIUM WAS UP $38.70 TO $1409.15//IMPORANT COMMENTARIES FROM ALASDAIR MACLEOD AND RONAN MANLY//CHINA MAY PROVIDE ANOTHER STIMULUS TO HELP ITS BELEAGURED REAL ESTATE MARKET//BERLIN ORDERS MOSCOW TO CLOSE 4 OUT OF ITS 5 CONSULATES//PEPE ESCOBAR DESCRIBES IN DETAIL WHAT IS HAPPENING INSIDE TURKEY WITH RESPECT TO ERDOGAN//COVID UPDATES/DR PAUL ALEXANDER
by Ronan Manly, BullionStar:
Last year, a major theme in the global gold market was the record gold buying by central banks across the world, with the World Gold Council and its data gatherers (Metals Focus) calculating that central banks had cumulatively purchased a net 1136 tonnes of monetary gold during 2022.
At the outset of 2023, this led the World Gold Council to predict that:
“Looking ahead, we see little reason to doubt that central banks will remain positive towards gold and continue to be net purchasers in 2023.”
by Peter Schiff, Schiff Gold:
As expected, gold has turned in a fairly strong start to the month. It’s below April but is still early in the contract.
As shown below, the amount on First Position was actually the highest since last August which should lead to high delivery volumes.
