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Home / Tag Archives: Precious Metals

Tag Archives: Precious Metals

Gold Moves from Vault A to Vault B – Precious Metals Supply and Demand

  Poland’s Gold and the Conspiracy Theorists The price of gold was up enough to buy a bottle of Two Buck Chuck wine, and the price of silver was up enough to buy a wooden nickel (well, not enough to buy a real nickel nickel). Poland’s gold bars are packaged by employees of G4S International Logistics to be transported from London to Poland. Poland’s gold was originally transferred to London at the beginning of WW II, when Stalin and...

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Eating the Seed Corn – Precious Metals Supply and Demand

  Misguided Incentives The price of gold subsided a few bucks, and the price of silver blipped a few pennies. Not much action last week, groceries neither pumped into nor drained out of this asset class. Those who look to exchange capital goods for groceries need to find a different asset. The best-laid plans… [PT] Not even the S&P 500 Index provided a gain in groceries this week. It certainly wasn’t the much-vaunted store of...

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Repo Market, QE4 (a.k.a. Not QE), the Fed and Gold

  Incrementum Advisory Board Discussion of 23 Oct 2019 In late October the Advisory Board of the Incrementum Fund held its quarterly meeting (a transcript is available for download at the end of this post). This time the board was joined by special guest Dan Oliver, the manager of Myrmikan Capital and president of the Committee for Monetary Research & Education.  Myrmikan inter alia publishes excellent and quite original research on...

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Gold, Togas and Very Fine Suits – Precious Metals Supply and Demand

  Yields and the “Everything Bubble” Last week the price of gold was up $9, and the price of silver was up $0.18. This week, our thought turns to a cherished old saw. Gold bugs often tell us that the purchasing power of gold is constant. An ounce of gold could have purchased, they say, a fine toga in Roman times. Just as it could buy a fine suit today. This magnificent toga will set you back an ounce, pilgrim. Just think of the...

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Volatility Galore – Precious Metals Supply and Demand

    Fun and Regret Ex Nihilo The price of gold dropped last week, but not calamitously. From $1514 to $1459, or -$55. The price of silver dropped. Calamitously. From $18.08 to $16.75, or -$1.33. -3.6% vs -7.4%. Once again, silver proves to be volatile relative to gold. Silver jumped off a cliff again last week – the chart formation nevertheless continues to look corrective. [PT] In standard vernacular, the metals lost purchasing power...

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Targeting nGDP Targeting – Precious Metals Supply and Demand

  Everybody Has a Plan Not too long ago, we wrote about the so called Modern Monetary so called Theory (MMT). It is not modern, and it is not a theory. We called it a cargo cult. You’d think that everyone would know that donning fake headphones made of coconut shells, and waving tiki torches will not summon airplanes loaded with cargo. At least the people who believe in this have the excuse of being illiterate. A few images...

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Incrementum 2019 Gold Chart Book

  The Most Comprehensive Collection of Gold Charts Our friends at Incrementum have just published their newest Gold Chart Book, a complement to the annual “In Gold We Trust” report. A download link to the chart book is provided below. As of late 2019 an ounce of gold will get you 115 liters of beer at the Munich October Fest – a 7-year high. Cheers! The Incrementum Gold Chart Book is easily the most comprehensive collection of charts...

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Bitcoin Moonshot – Precious Metals Supply and Demand

    Bitcoin Gets Juiced The prices of gold and silver were up $19 and $0.48 respectively last week. But that’s not where the massive inpouring of groceries went. When Friday began (Arizona time), Bitcoin’s purchasing power was under 75 grocery units (assuming a grocery unit is $100). By evening, speculators added 25 more grocery units to the same unit of bitcoin. Bitcoin, daily – shortly after breaking below an obvious lateral support...

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Central Banker Angst – Precious Metals Supply and Demand

  Ominous Pronouncements The prices of the metals barely budged last week. It is interesting to note that last week, more than one central banker felt it necessary to say something about a possible next crisis. And at least one of them said something about gold. Lost as always, and apparently slightly nervous these days… [PT] We do not place much stock in what these guys say for obvious reasons. Like Elmer Fudd armed with a gun that...

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Future Object of Speculation? Precious Metals Supply and Demand

    Spillage The price of gold dropped $16, but the price of silver was all but unchanged. Whereas last week we said: “…the consumer goods stockpile stored in Treasury bonds (to extend our half sarcastic, half tongue-in-cheek analogy) increased this week.” The 10-year note takes another peek at the wide spaces below its 50-day moving average. [PT] Last week, it was the opposite. Consumer goods spilled out of the storage tank of...

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