Thursday, May 7 2020
By GCRU Gold News on Thursday, May 7 2020, 02:43
It is worthy to know if you are a commodities investor of precious metals or other types of commodities that the increasing securitization of commodities, the fact that they increasingly change hands as derivatives rather than as physicals will continue to impact the trading environment of commodities for the forseeable future and investors need to take that into account.
Wednesday, April 29 2020
By GCRU Gold News on Wednesday, April 29 2020, 00:05
Bank of Nova Scotia (Scotiabank) told staff on Tuesday it would close its metals business, drawing the curtain on one of the most venerable names in precious metals trading, two sources familiar with the matter told Reuters.
Scotia was for years the world’s biggest lender to the physical precious metals industry, with a history stretching to the founding in 1684 of London gold dealer Mocatta Bullion, which it bought in 1997.
Monday, April 27 2020
By GCRU Gold News on Monday, April 27 2020, 23:38
1) Does the commission have jurisdiction over manipulative futures trading by the U.S. government or its brokers or agents or other governments?
2) Is the commission aware of futures trading by the U.S. government, its brokers, or agents?
Saturday, April 25 2020
By GCRU Gold News on Saturday, April 25 2020, 03:08
On April 23, 2020, the gold price breached €51,000 euros per Kg for the first time in history. The gold price in euros has increased by 555% since the euro was created in 1999. Put differently, since inception the euro lost 85% of its value against gold.
Tuesday, April 21 2020
By GCRU Gold News on Tuesday, April 21 2020, 23:42
Monetary and Fiscal Policy Going Ballistic
There is no need to belabor the obvious. However, the consequences of these actions have yet to be priced into the financial markets or gold.
By GCRU Gold News on Tuesday, April 21 2020, 23:21
Denver Gold Group Webcasts
By GCRU Gold News on Tuesday, April 21 2020, 23:16
Demand for gold coins must be seen as a retail sentiment indicator. In the gold space, it is often assumed that whenever demand for gold coins rises and the premiums these coins attract escalate, the price of gold should sky-rocket accordingly.
Friday, April 10 2020
By GCRU Gold News on Friday, April 10 2020, 00:06
Physical gold demand at record levels, paper gold price disconnects
Friday, April 3 2020
By GCRU Gold News on Friday, April 3 2020, 01:55
The Germans are wary of inflation, for which they hold physical gold as insurance. In the 2011 survey by CFin, more than 80% of the respondents said to “buy gold because of the preservation of value and protection against inflation.”
Tuesday, March 24 2020
By GCRU Gold News on Tuesday, March 24 2020, 22:27
The London Bullion Market issued this statement to Kitco News:
“The London gold market continues to be open for business. There has, however, been some impact on liquidity arising from price volatility in Comex 100-oz ounce futures contracts. LBMA has offered its support to CME Group to facilitate physical delivery in New York and is working closely with Comex and other key stakeholders to ensure the efficient running of the global gold market.”
By GCRU Gold News on Tuesday, March 24 2020, 22:25
Trading has been wild Tuesday morning amid unconfirmed reports that London spot gold price quotes have become unreliable or have been pulled as U.K. market-makers shut down due to the Covid-19 outbreak and the U.K. government ordering the country on lock-down. Apparently, big gold traders and commercials in Europe who normally base their trading decisions on the London spot price rushed to buy Comex gold futures when they could not get London what they felt were accurate London spot gold prices.
Monday, March 23 2020
By GCRU Gold News on Monday, March 23 2020, 01:22
This surge in demand for physical bullion is across the board and is not just in Singapore, with dealers globally facing the same demand surge for physical. Given the huge increase in demand, there is now a supply squeeze in the precious metals supply chain, with gold refineries, mints and wholesalers running out of stock. These bullion shortages are getting worse every day, and there are long delays on replenishing inventory.
Saturday, March 21 2020
By GCRU Gold News on Saturday, March 21 2020, 00:32
The Royal Canadian Mint is implementing a temporary suspension of production effective Friday, March 20, for a period of two weeks.
Thursday, March 19 2020
By GCRU Gold News on Thursday, March 19 2020, 00:24
More and more refineries, mints and fellow bullion dealers are suspending their operations indefinitely.
Wednesday, March 18 2020
By GCRU Gold News on Wednesday, March 18 2020, 22:53
Due to Coronavirus, the Swiss refiners are now cutting down on production as they must reduce the work shifts. At some point it is possible that production must shut down completely. At this stage decisions are taken from day to day. This is likely to lead to shortages of both gold and silver in the short to medium term.
Monday, March 16 2020
By GCRU Gold News on Monday, March 16 2020, 08:15
On the demand side, there is very strong and prolonged demand for physical investment precious metals bars and coins. In any properly functioning market, if demand is greater than supply and there is little supply at the current price, then the price goes up or re-rates to a higher level. But this has not been the case with the gold price. Why? Because the price has been subdued and has led to a mis-allocation of supply. Lack of supply leads to an increase in wholesaler premiums, which in turn leads to an increase in retailer premiums to reflect the demand situation. This in turn leads buyers to notice the price disconnect of physical from the price of ‘paper’ precious metal and question the incumbent price discovery mechanism. If only the same was true of financial reporters, who continue to regurgitate ‘margin call’ hearsay.
Sunday, March 15 2020
By GCRU Gold News on Sunday, March 15 2020, 01:55
By now it is abundantly clear that the physical gold market and paper gold market will disconnect.
Saturday, March 7 2020
By GCRU Gold News on Saturday, March 7 2020, 01:00
As a team, Ronald-Peter Stöferle and Mark Valek analyze the state of the global financial markets, monetary dynamics and their influence on gold price developments like no other.
Monday, March 2 2020
By GCRU Gold News on Monday, March 2 2020, 00:43
Over the last week, the gold price has made new all-time highs in many major currencies, which has benefited the many savers and investors in gold whose home currencies are those other than the US dollar.
Saturday, February 29 2020
By GCRU Gold News on Saturday, February 29 2020, 08:26
People have treasured gold for millennia. They’ve draped it over the bodies. They’ve used it as money. They’ve even adorned their tombs with the yellow metal. As beloved as it is, it should come as no surprise that gold has been the subject of many famous quotes.