Saturday, January 19 2019

Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Russian Gold Reserves

Russia adds 300,000oz in December

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Russia becomes world's fifth biggest gold holder after sanctions

Russia has overtaken China to become the world’s fifth largest official sector holder of gold as Western sanctions drove buying by its central bank to record highs in 2018, its data showed on Friday.

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Thursday, January 17 2019

Gold Seasonal Movements

Seasonal movements vs 2018 price action

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Billionaire Sam Zell Buys Gold for First Time in Bet on Tight Supply

“The amount of capital being put into new gold mines is a most nonexistent,” Zell said. “All of the money is being used to buy up rivals.”

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Tuesday, January 15 2019

Tocqueville Gold Strategy Fourth Quarter 2018 Investor Letter

Gold exposure, in our view, is the antidote to unknown adverse repercussions stemming from a sovereign-debt crisis. Gold has always protected capital from currency debasement. We believe it will prove to be a winning strategy in a bear market. Depressed gold and silver mining stocks have historically generated massive upside against a backdrop of systemic risk concerns. The tide of easy credit and risk-taking appears to be receding. The US is beginning to sport a debt-to-GDP ratio worthy of any banana republic. Therefore, we believe that exposure to gold is both timely and potentially rewarding.

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Chinese gold demand falters but still up y-o-y - just

We still consider Shanghai Gold Exchange (SGE) gold withdrawal data the best comparable measure of the nation’s gold demand year on year and for 2018 the annual total was a little higher than in 2017 or 2016, but still well short of the record figure reported in 2015.

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Monday, January 14 2019

Newmont to buy Goldcorp for $10 billion to create world's largest gold producer

Newmont Mining Corp said on Monday that it would buy smaller rival Goldcorp Inc in a deal valued at $10 billion, creating the world’s biggest gold producer by output.

The deal is the second high-profile merger in the mining industry since Barrick Gold Corp agreed to buy Randgold Resources Ltd in September last year to cut costs.

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Sunday, January 13 2019

Transparent Precious Metal Holdings - Gold/Silver

Flows for the week & year

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Chinese SGE Gold Withdrawals

SGE withdrawals for 2018

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Banque de France’s Gold Isn’t Sanctuarized Anymore

As a very well informed article in Revue Banque explains, Banque de France’s gold reserves will be “mobilized” in order to guarantee gold/currencies swaps and gold leasing. As of now, only other central banks will be able to use those financial products with the Banque de France, but since it has taken on JP Morgan as a partner (why not a French bank?), this opens up the possibility that, in the future, other international commercial banks may have access to them.

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Separating truth from fiction in China’s golden game of Poker

This month the Chinese central bank reported that in December 2018, its gold reserve holdings increased by 10 tonnes, the first claimed increase in Chinese monetary gold holdings since October 2016.

Based on previous patterns reporting patterns, a two year hiatus in reporting gold holdings is not unprecedented for the Chinese central bank and its reporting agency SAFE. What is strange, however, is that after an extended absence of reporting, the Chinese are coming back to the table with not a lot to show for it.

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Saturday, January 12 2019

Goldman Sachs upped 12-month price forecast for Gold to $1425

In their latest gold-price forecast report, the US investment banking giant Goldman Sachs made upward revisions to their 12-month price outlook.

Key Highlights:
3 months at 1,325 / oz (prior forecast was 1250)
6 months at 1,375 (1300)
12 months forecast to 1,425 (1350)

Gold to derive support from:
Defensive positioning (investors with a fear of a recession).
Central banks to buy.

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Arbitrade Ltd. Hamilton, Bermuda: Announces Gold Shipment Added to the Vaults

Arbitrade Ltd. (“Arbitrade”) is pleased to announce December’s shipment of gold from SION Trading FZE (“SION”) has been vaulted and secured in Dubai UAE. SION, procurement agent for Arbitrade, continues to increase its gold holdings through SION’s global mine network, via procurement contracts as mentioned in previous press releases. In addition, SION has provided $250 million in credit to facilitate these purchases on Arbitrade’s behalf.

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Gold and Commodities Set to Soar in 2019

Goldman Sachs issues an overweight recommendation for gold and commodities.

Paradigm Capital says royalty companies are the “best bet” in metals and mining.

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Thursday, January 10 2019

Outlook 2019: Economic trends and their impact on gold

Potential for growth and heightened risk in 2019

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Gold mine production by country

In short, the world is a different place now than it was prior to the 2008 financial crisis in terms of gold production. Should physical demand soar once again as did in the 2009-2013 period, we could get the same price response we did then. Even as it is, substantially less metal is reaching the marketplace at a time when central banks have become net buyers of the metal and investor demand, though presently in a lull, is generally on the rise.

The trends now favor "strong-handed" long-term gold investors holding for asset preservation purposes and capable of weathering the market's ups and downs. As for the official sector, the trend toward building gold reserves is likely to continue. More and more emerging countries are likely to see diversification as in their best interest while established states are likely to hold close the gold reserves they already own.

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Tuesday, January 8 2019

Perth Mint Coin Sales

Sales for December

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US Mint Coin Sales

US Mint sales for December & the year

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The 2018 Year in Gold Recap, and What It Might Forecast for 2019

While a myriad of forces pushed the gold price around in 2018, it basically ended the year flat. This report recaps the year in gold, shows how it compared to other asset classes in both short and long timeframes, and explores the factors to watch in 2019.

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