Do you think the US government will confiscate and revalue gold like they did in 1933?
Total Voters: 36
Loading ...… what the hell is going on here … silver is trying to push above $30 again.
I am getting sick and tired of you a**holes sleeping on the job … so hurry up and tamp that sh*t down.
I better not have to tell you again or you will be getting drafted into the Ukraine army and sent to the front lines.
Chuckle
Ghana starts gold purchase programme to strengthen currency
ACCRA, May 17 (Reuters) – Ghana has started a bulk purchase programme to buy gold locally to raise the gold component of its reserves, Central Bank Governor Ernest Addison said on Tuesday, in a bid to strengthen the cedi currency without increasing inflation.
“We have started a bulk purchase program, domestic, where we buy gold locally and try to raise the gold component in our level of reserves. This is where the currency focus is,” Addison said at a conference.
Ghana’s Vice President says he plans to adopt a new exchange rate regime linking the country’s currency to gold.
We will know after the election in December.
This would be the second country to do this.
We are watching dominos…
Could be you’re right and we have to wait a while.
Dollar bouncing a little harder now. I still think at least the metals go up in the face of it. We’ll find out soon enough.
Eskay Mining Updates Summer Exploration Program and Company Plans
https://ceo.ca/@accesswire/eskay-mining-updates-summer-exploration-program-and
Orogen Royalties Announces Record Royalty Revenue and Profitable Q2-2024 Results
https://ceo.ca/@accesswire/orogen-royalties-announces-record-royalty-revenue-and-538f5
Founders Metals Increases Confidence in Regional Exploration Targets at Antino
https://ceo.ca/@newsfile/founders-metals-increases-confidence-in-regional-exploration
Tower Completes First Phase of 2024 Drilling Program at Rabbit North, Prepares for Larger Follow-Up Drilling Campaign in September
https://ceo.ca/@newsfile/tower-completes-first-phase-of-2024-drilling-program
Golconda Gold Ltd. Releases Financial and Operating Results for Q2 2024
https://ceo.ca/@globenewswire/golconda-gold-ltd-releases-financial-and-operating-9e2e4
Aura Minerals Updates its Long-Term Guidance
https://ceo.ca/@globenewswire/aura-minerals-updates-its-long-term-guidance
Halcones Precious Metals Closes Private Placement Offering
https://ceo.ca/@globenewswire/halcones-precious-metals-closes-private-placement-offering
Lundin Mining Announces Labour Agreement at Caserones Mine
https://ceo.ca/@newswire/lundin-mining-announces-labour-agreement-at-caserones-a929f
Majestic Announces Change In Use Of The Net Proceeds From Global Offering
https://ceo.ca/@thenewswire/majestic-announces-change-in-use-of-the-net-proceeds
Lake Winn Provides Update With Respect to its Private Placement and a Corporate Update on its Cloud Project, Flin Flon Gold Belt, Manitoba
https://ceo.ca/@thenewswire/lake-winn-provides-update-with-respect-to-its-private
BULGOLD Announces Filing of Second Quarter Financial Results for Three and Six Months Ended June 30, 2024
https://ceo.ca/@globenewswire/bulgold-announces-filing-of-second-quarter-financial-39af3
GAMCO Natural Resources, Gold & Income Trust Increases Monthly Distribution 33%
https://ceo.ca/@globenewswire/gamco-natural-resources-gold-income-trust-increases
Gold Mountain Announces Closing of $6.5 Million Financing
https://ceo.ca/@accesswire/gold-mountain-announces-closing-of-65-million-financing
Quimbaya Gold Inc. Strengthens Corporate Governance and Board Appointments
https://ceo.ca/@newswire/quimbaya-gold-inc-strengthens-corporate-governance
Lahontan Provides Corporate Update
https://ceo.ca/@accesswire/lahontan-provides-corporate-update
Decade Discovers New Copper-Gold-Silver Mineralization in a Breccia Zone on the Nobody Knows Portion of the Terrace Property and Provides Del Norte Update
https://ceo.ca/@newsfile/decade-discovers-new-copper-gold-silver-mineralization
Miata Metals Signs Earn-In Agreement to Acquire 100% of the Sela Creek Gold Project in Surinam
https://ceo.ca/@newsfile/miata-metals-signs-earn-in-agreement-to-acquire-100
G2 Goldfields Reports 2024 Year End Results and Files Revised NI 43-101 Technical Report for the OKO Project in Guyana
https://ceo.ca/@globenewswire/g2-goldfields-reports-2024-year-end-results-and-files
We may have to wait a while until, punters return from holiday, before the PM stox really move, as the Algo’s which never sleep, only follow movement, rarely preempt it …
That said they remain a crazy buy here…..Gold is 4 times it’s previous record and the shares are half theirs !!!!!! Which if they just equal Gold means an 8 bagger !!!!!!!
Silver breaking back above $30 here early up 1%, gold up 1/2% with the dollar a smidge higher. Dollar is up against the Euro and Sterling but down against the Yen. Somehow, I suspect what matters is the Yen. Oil is closing in on $76. Bitcoin down 1% after being up 10% last week. Rates are down 2 bips. SM is up a little.
Hopefully we pass $30 silver and never look back and gold heads straight to $3K by year end. That would get some folks to pay attention.
The more I think about it, the more Rafi’ Farber’s thesis makes sense. The SM continues higher, but at a subdued pace while pm’s launch and the value of the SM falls against gold. If we are at the beginning of new QE and a falling dollar, his thesis makes a ton of sense, and we may not see a big SM correction. Gold just gets more valuable than everything else, including the over-inflated SM.
PM shares are strong at this early hour, the scum owes us some nice gains, even if the dollar flatlines or goes up a little, after subduing the metals against the dollar last week. We might be seeing a little of that today.
Agree with Captain, the juniors might start getting a little attention. The worm may have turned on them last week. Still though, we need to see some volume.
Greg Hunter, back from heart surgery, interviews Marti Armstrong.
Grim future discussed.
His Chicago property taxes on the apartment building are going from $23,000 per year to $128,000 per year.
This would force him to raise rent to $5,000 per month for a 1 bedroom apt.
Exactly … you get it.
Have a great weekend.
The juniors are looking good too.
Cheers
I don’t understand all the lingo or how the delivery days/notices work, but what struck me is that it is the second month in a row that the contracts are active with a high % of registered. Another contract month and they may be scrambling for metal unless they’re sitting on mountains of it stored elsewhere.
I think there’ll be a big signal when we start to see these local dealers raising premiums and scrambling for supply.
… at Comex are being drained at an increased rate … an alarmingly increased rate.
A rate that will drain supply quickly.
North American’s will be paying higher prices (soon) when they decide to start buying – if they can get it.
Cheers all
Just in case you needed a good laugh today (more likely, a guffaw)
https://www.zerohedge.com/geopolitical/top-10-countries-gold-reserves-2024-whos-adding-most
RFK Jr. appears with Trump at rally after announcing endorsement
https://www.cnn.com/politics/live-news/dnc-harris-trump-campaign-news-08-23-24/index.html
Not really a big surprise with Jackson Hole going on. Let’s see if it’s just a pause before we pick things back up next week, nothing is overbought. The dollar hasn’t mattered that much during this uptrend in gold but now that it’s breaking down it would be nice to see the correlation work in our favor.
At least we didn’t hit a big round number and immediately get clubbed like a baby seal. Silver did ok thanks to today’s move.
Here’s the COT Report. Seems pretty normal.
For sure ?
1/2 of 1% of investable assets are in pm’s in the US. Minuscule amount. Imagine what that looks like if it were to go to 3-5%?
We’ve got to outperform for a while before we get some attention, or maybe crypto needs a big hiccup.
Bitcoin up 4% today. Just ridiculous.
Gold should be doing better, shares too.
Here a lot of the dealers have the luxury of paying less than spot and still charging a premium. Gold is a forgotten investment in the US these days. We have a bunch of kids that are crypto traders. It so reminds me of the dot com days.
They need a lesson on what the world views as money.
Dollar back at the lows of the day, we should pick up some steam but they have us tied to the SM.
Not to beat a dead horse here, but what you’re mentioning (lack of volume=very low retail participation in PM equities) is the crux of what, IMHO, the Cartel cretins are fighting to prevent…..How the endless naked shorting of these issues gets curtailed is a major headwind, and good reasons why others on this site have mentioned not to get involved in these stocks (wish I never had….).
That’s why I’ve been looking at volume so much. We’re just not seeing an uptick in volume in the shares or GLD & SLV yet. Some of that might be summer, but gold is up 25% and silver 40% this year and we’re still unloved. Maybe after Labor Day we’ll start to see some money come in. Today is big news for gold, and yet GLD might do average volume at best. We should be seeing a lot more interest. SLV doing a little better but we’re not seeing momentum players come in. I think they will eventually, just not sure when. There’s a lot of burned fingers and long memories over the last decade.
I do think we’re just getting started though, and agree with Captain and some of the other analysts. This is the big one, finally.
Here in Canada dealers pay sellers spot price and charge buyers a premium. I’ve dealt with a dozen different dealers and they all committed to that criteria.
Simple supply and demand. Seems the guy who offered $100 under spot just has more people selling to him than looking to buy. Once he has more buyers than sellers, he’ll pay a higher price for more inventory.
I believe in the near future, these smaller dealers are going to have bigger buyers coming in and buying out their stock. That’s when he’ll start offering over spot for more metals. Right now I suspect the little guys are still looking to sell.
Really the same dynamic in the markets, once people in the US start to see pm’s outperform everything else, they’ll jump into ETF’s and miners. This is the first year we’ve done well in a long time. I think they’ll figure it out that the trend is going to continue pretty soon and start to get on board.
I apologize; I know this has been discussed before, but I don’t remember the exact dynamics that will reduce the spread between the Gold spot price and the dealers buying price?
Went to another dealer this morning and they quoted me $100 below spot
