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Gold and silver prices are down

richc said:
Any thoughts this upcoming change and the impact on physical gold?

www.kitco.com

Basel III to trigger 'liquidity squeeze,' gold price could be looking at $2,100 by year-end - Goldex CEO

Kitco News talks with some of the most influential gold market analysts, economists, investors and mining CEOS to get their take on the industry and financial markets and the global economy
www.kitco.com
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www.goldmoney.com

The end of the LBMA is nigh - Research - Goldmoney

Basel 3 is on course to regulate the LBMA out of existence. And with it will go all the associated arbitrage business and position-taking on Comex, because most bullion bank trading desks will cease to exist. The only supply to buy-side speculators of gold and silver contracts will be...
www.goldmoney.com www.goldmoney.com

This may or may not have an effect on the gold spot price but what I see is the handle still being formed, gold testing lows over the next several months, and an unknown effect from Basle3. Bottom line is this is a buying opportunity over the summer.
 
Last edited:
richc said:
Any thoughts this upcoming change and the impact on physical gold?

www.kitco.com

Basel III to trigger 'liquidity squeeze,' gold price could be looking at $2,100 by year-end - Goldex CEO

Kitco News talks with some of the most influential gold market analysts, economists, investors and mining CEOS to get their take on the industry and financial markets and the global economy
www.kitco.com
Click to expand...

Not sure, I wonder what will happen to miners and refiners who use the Comex to hedge their production.

Gold was made a tier 1 asset a few years ago and that boosted the price, so we might see something similar.
 
Varmint said:
Not sure, I wonder what will happen to miners and refiners who use the Comex to hedge their production.

Gold was made a tier 1 asset a few years ago and that boosted the price, so we might see something similar.
Click to expand...
Isn’t it still considered a Tier 3 asset in Europe? Are you saying the US classified it as Tier 1?
 
Basel III seems to put a damper on derivative trading of gold. In the beginning folks might "lend" their gold to another party via a derivative contract. It was simpler to do this than physically move the gold. OK that passes muster.

And gold mining companies would sell some of their future production to guarantee a price and buyer. Much like farmers do in the US. That too passes the sniff test.

Now of course we have governments and financial giants who sell naked contracts to control the price of gold. That is what I think will be addressed by Basel III. And that is overdue IMHO.
 
richc said:
I received a 5% eBay Bucks offer this morning. It works with pre-1933 gold coins.
Click to expand...

Not bad price $1957 after Bucks but I’ve no cash. I also don’t find the Bucks very useful anymore since silver is so expensive on EBay.

www.ebay.com

$20 Saint Gold Double Eagle MS-64 NGC/ PCGS (Random) | eBay

Ancient Coins. Gold Bars 1 oz Gold Bars Fractional Gold Bars. Gold Rounds. Silver Bars 1 oz 10 oz Kilo 100 oz. Silver Rounds. Pre-33 Gold is popular amongst collectors for its beloved designs. Display your certified Gold Eagle in style by adding a beautifulpresentation box to your order.
www.ebay.com
 
ASHDUMP said:
So the general consensus is gold and silver will go lower this summer? Buying opportunity? Asking for a friend....
Click to expand...

Miners are selling off like gold will retest $1675, and silver maybe $24 or $22. You won’t see much drop in retails PMs though. Great time to buy miners. Put out stink bids now.
 
One of the things I’m beginning to hear about on Kitco and other PM and investing shows is that people will want to hold some portion of their wealth in “analog” form - that is untraceable, fungible, hand-to-hand form. The reason for this is that fed coin will be entirely tracked - everything you buy with fed coin will be known. Also cryptocurrencies are traceable. So the only way you’ll have an opportunity to make an entirely anonymous transaction is via PMs.
 
Win said:
One of the things I’m beginning to hear about on Kitco and other PM and investing shows is that people will want to hold some portion of their wealth in “analog” form - that is untraceable, fungible, hand-to-hand form. The reason for this is that fed coin will be entirely tracked - everything you buy with fed coin will be known. Also cryptocurrencies are traceable. So the only way you’ll have an opportunity to make an entirely anonymous transaction is via PMs.
Click to expand...

most crypto’s are traceable IF (and a big if here) you know who owns the wallet.

there are also cryptos that are anonymous.

I believe a healthy portfolio should have crypto’s as well as metals. And basically anything else the government doesn’t want you to have.
 
NH_Realtor said:
most crypto’s are traceable IF (and a big if here) you know who owns the wallet.

there are also cryptos that are anonymous.

I believe a healthy portfolio should have crypto’s as well as metals. And basically anything else the government doesn’t want you to have.
Click to expand...
Just speaking candidly hear. I realize folks smarter than I are investing a lot of money in Crypto. I myself just can't see the value. I've tried to watch Michael Saylor and others make the case for crypto currencies but none of it speaks to me. Folks speak of bitcoin like bitcoin invented rarity but there are many things that are rare that few people want. Rarity itself doesn't impart value. So where is the value? I hear cases for transferring money but I can send money in a myriad of ways without it costing me anything. I hear the case that it's cheap to store but why do I care if something I don't want is cheap to store? Cryptocurrencies are not a commodity that has a use case - no one makes anything out of them. They are not an ingredient in a product. So what am I missing? I'm sure it is something. I just haven't heard the case for crypto expressed in a way that makes sense to me. Again, I'm not saying that I am right. I'm saying I can't in good conscience invest in something I don't believe in or understand in the simple hope that other people will be willing to pay more than I paid. So what is the best way to sum up of the value of crypto in a brief, clear statement?
 
www.kitco.com

Russian finance ministry to buy $4 bln worth of gold, FX in July

Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
www.kitco.com

A5EB3DBB-EC1B-44CB-9EB1-29DA6FD8BFA5.png

And there you have it. We’ve broken $1800 to start the second half. Where will gold go by the end of this year? Some analysts are saying weakness through the next year and gold was oversold but I don’t know about that. Once the central banks/hedge funds start fomo buying then it will break levels not seen before.

Btw- this thread should be a sticky on the main page once gold begins it meteoric rise.
 
This pattern has been repeated frequently recently. An upside surge in gold prices early in the day. Then a retracement of those gains. Generally followed by a modest increase in price, somewhere between the low and the high.

Buyers and sellers are duking it out.


Screen Shot 2021-07-08 at 10.27.12 AM.png
 
I think it's all noise while the dollar is getting a bid. Investing shows I watch think the dollar will begin to fall again in a couple of months and PMs will begin their next leg up during that time. Personally, it makes no difference to me if gold goes up or down $50, $100, $200. PMs are severely undervalued and I can't recall when sentiment was worse.
 
Win said:
I think it's all noise while the dollar is getting a bid. Investing shows I watch think the dollar will begin to fall again in a couple of months and PMs will begin their next leg up during that time. Personally, it makes no difference to me if gold goes up or down $50, $100, $200. PMs are severely undervalued and I can't recall when sentiment was worse.
Click to expand...
It’s the right time to buy. Everything is on sale.
 
Well of course, what else would they do? No need for any kind of fetters on our paper trades!


Britain carves out exemption for gold clearing banks from Basel III rule​

www.kitco.com

Britain carves out exemption for gold clearing banks from Basel III rule

Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
www.kitco.com
 
djbradles said:
Well of course, what else would they do? No need for any kind of fetters on our paper trades!


Britain carves out exemption for gold clearing banks from Basel III rule​

www.kitco.com

Britain carves out exemption for gold clearing banks from Basel III rule

Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
www.kitco.com
Click to expand...

Rules are for the unwashed masses.
 
smokey-seven said:

Britain carves out exemption for gold clearing banks​


I read that and am still in the dark, is this a negative for metals? Are the banks just running free?
Click to expand...
Banks running free with no requirements to cover in cash all the massive paper trades. So when JP Morgan sells you paper gold and sells another 5 people that same exact gold contract they don’t need to cover it. Still negative for metals.
 

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