Saturday, July 13 2019

Has the Gold Market Spoken?

What is certain is that during gold’s six years in the penalty box, the underlying forces that have made the metal a superior strategic investment over centuries have not been idle. The extrapolation of current conditions into unrealistic expectations is a dependable flaw of human nature. The capacity of physical gold and precious metals mining shares to absorb inflows has greatly diminished because of the prolonged attrition of investment interest. Once capital market flows revive, there is real potential in our opinion for parabolic upside in the metal and the shares.

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Chinese SGE Deliveries

SGE deliveries double average this month

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Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Gold/Silver - Futures - COTs - Commitment of Traders

COTs this week

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Thursday, July 11 2019

Precious Metal Markets - Hansard

I wish to ask the Minister a number of questions.

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Powell explains why a return to the gold standard would be damaging

“If the appeal of cryptocurrencies is their capacity to provide a common currency, and to maintain a uniform value for every issued unit, we need only consult historical experience to ascertain that these same qualities were achieved through the classical international gold standard,”

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Wednesday, July 10 2019

Gold Smuggling to India & Japan is a Symptom of Governments’ War against Gold

While the regional media in Asia readily documents the nearly daily instances of detected gold smuggling to India and gold smuggling to Japan, they rarely if ever consider the underlying problem. Gold smuggling is a symptom of a problem. And that problem is that these governments are imposing penal taxes, costs and frictions on the free ownership and free movement of gold, thereby distorting the ability of people to choose to save in invest in the ultimate form of money, which is and always has been gold.

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Gold ETF Holdings

Holdings in global gold-backed ETFs and similar products rose sharply in June by 127 tonnes (t) to 2,548t – equivalent to US$5.5bn in inflows – as geopolitical uncertainty increased and central banks signalled a shift to a more accommodative policy over the coming months. This drove rates and the US dollar lower and shifted the momentum in gold as its price moved to a six-year high.

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Tuesday, July 9 2019

Summer doldrums turned upside down

The summer months historically present a buying opportunity in precious metals as illustrated in the charts shown below. In the past, there has been a clear change of direction in sentiment annually from the 185-195 day mark – midway in the year. So far this summer, though, gold has broken with tradition by turning in a strong June, as shown in the third chart

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Chinese Gold Reserves

Chinese reserves for June

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Gold/Silver - Futures - COTs - Commitment of Traders

COTs last week

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Monday, July 8 2019

Poland joins Hungary with Huge Gold Purchase and Repatriation

Whatever the exact motives, both Hungary’s and now Poland’s gold purchases and repatriations are sending clear signals to the EU elites that in the realms of both politics and monetary policy, that two countries still have an independent streak and sense of national sovereignty found lacking in many other EU member states.

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Poland Central Bank Gold Reserves Rise Sharply In The Month Of June

In an increasing globe trend, we note with interest the following statements made by the National Bank of Poland (NBP). Between 2005 and 2019, the NBP’s gold holdings increased by 125.7 tonnes to 228.6 tonnes and they also confirmed that nearly 50% of Polish gold will be repatriated to their country.

However what is even more telling is that, 95 tons of this increase can be attributed only to the month of June this year.

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Saturday, July 6 2019

Chinese SGE Deliveries

SGE deliveries double since gold popped.

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Transparent Precious Metal Holdings - Gold/Silver

Flows this week - no COT charts due to holiday

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Friday, July 5 2019

India hikes gold import duty, industry fears smuggling surge

India raised the import duties on gold and other precious metals on Friday in a surprise move that industry officials say could dampen retail demand and boost smuggling in the world’s second-biggest bullion consumer.

Hikes gold, silver import duty to 12.5% from 10%

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Thursday, July 4 2019

Perth Mint Coin Sales

Perth Mint sales for June

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Silk Road: China, India, Russia & Turkey Gold Consumption

Silk Road demand for April

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India Gold/Silver Imports

Indian flows for April

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Tuesday, July 2 2019

US Mint Coin Sales

US Mint sales for June

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