◆ Gold and silver coin and bar shortages continue globally due to massive demand and a breakdown in supply (see News this week). NEWS and COMMENTARY Gold eases on profit-taking, but poised for 8.5% gain in week; best week in 11 years The Gold Market Is Being Tested Like Never Before South African Gold Shipments… Read More
This is an open letter to Boris Johnson about the inflationary consequences of the global action against the coronavirus with which his government is conjoined, and the policies he will have to implement to protect the pound from a collapse in its purchasing power. Dear Prime Minister An exit strategy from the domestic and global… Read More
◆ Gold and silver coin and bar shortages have deepened globally due to massive demand and a breakdown in supply (see News below).◆ GoldCore remains open for business and we are buying coins and bars from clients and we are continuing to buy and sell gold and silver certificates. We are buying coins and bars… Read More
◆ GoldCore remains open for business. Stocks of coins and bars have been depleted globally due to massive demand. We are buying coins and bars from clients and we are continuing to buy and sell gold and silver certificates. We are selling coins and bars when we receive stock from clients or directly from our… Read More
◆ GoldCore remain open for business unlike many dealers, mints and refineries (see News below) and we continue to buy bullion coins and bars and sell gold bars (1 kilo). The supply situation changes hour to hour. ◆ We, like the entire industry have experienced record demand in recent days and the global supply of… Read More
Gold prices moved to $1700/ozt a few weeks ago as the market started to price in rate cuts. However, since then, prices have fallen back to below $1500/ozt despite broad market turmoil. We believe this price fall is mainly the result of sharply higher real-interest rate expectations as we are seeing a temporary surge in… Read More
The unilateral response from governments to the coronavirus is to helicopter money to people and their businesses in unlimited quantities. Their priority is to keep the debt-driven Keynesian show on the road, and policy makers are approaching the task with unseemly gusto. There was evidence that the credit cycle was already on the turn with… Read More
◆ “There are no limits to our commitment to the euro,” ECB President Christine Lagarde pronounced as the ECB began to create an additional EUR 750 billion in order to buy government and corporate debt in an emergency move overnight. ◆ Gold prices in euros are marginally higher at €1,369/oz and in British pounds gold… Read More
Gold in USD – 15 Years (including the brief Lehman sell off in October 2008) ◆ Gold and particularly silver prices have fallen sharply in recent days due to massive concerted selling in the futures market which is being attributed to margin call selling. ◆ Gold and silver prices are down by 4.5% and 24%… Read More
GoldCore remain open for business and we like most mints, refineries and dealers continue to experience record demand. In light of the unprecedented demand for precious metals and significant disruptions to logistical networks as borders and nations are closed in national lock-downs, we have taken the following decisions and actions: ◆ All new order deliveries… Read More
Dear Client, GoldCore will remain open for business and we like most mints, refineries and dealers continue to experience record demand. In light of the unprecedented demand for precious metals and significant disruptions to logistical networks as borders and nations are closed in national lock-downs, we have taken the following decisions and actions: ◆ Our… Read More
Gold fell for a few days after the Lehman collapse but ended 2008 higher by 5.6% andit continued its gains in 2009, 2010 and in the sovereign debt crisis of 2011 and 2012 ◆ Stock markets around the world collapsed yesterday as market panic led to massive sell offs of over 10% on U.S. markets,… Read More
◆ Gold jumped 3% after the US Federal Reserve cut its benchmark interest rate by a full percentage point to near zero and announced they would again engage in QE and massive bond buying worth $700 billion. ◆ Gold subsequently pared gains despite the US central bank engaging in another panic move to protect stock… Read More
The Germans – as always – have a word for it: Rohrkrepierer. Literally translated it means “[projectile] that explodes in the barrel before it exits the weapon”. This is a perfect analogy for what happened when the Fed took out what it felt was the financial Bazooka, just to see equities implode on the close… Read More
Markets are just beginning to latch on to the economic consequences of the coronavirus. Central banks are slashing interest rates and beginning to throw new money into the mix and governments are increasing deficit spending. Few analysts have yet to understand the enormous consequences of the coronavirus for missed payments and accumulating current debt, which… Read More
◆ Stock markets around the world are collapsing today as the financial and economic implications of the impact of the pandemic on already massively indebted companies and governments is realised. ◆ Investors are liquidating en masse risk assets from equities to industrial commodities, while gold has held its ground. ◆ The FTSE 100 is down… Read More
On March 3, 2020, I found myself engaged in a twitter thread with Brent Johnson[1] of Santiago Capital after I had inquired into the merits of a particular investment theory which he has been promulgating over the past two years. Johnson calls his theory “The Milkshake”, and it has caused quite the swirl in contrarian… Read More
◆ Gold prices rose by 0.6% today as the Bank of England slashed rates in an emergency move to 0.25% and the ECB looks set to follow as it warned of a 2008 style crisis overnight. ◆ The Bank of England slashed its main interest rate to 0.25 percent this morning in a emergency move… Read More
Gold in USD, GBP and EUR before, during & five years after Lehman ◆ “Coronavirus may be more destructive than the Lehman crisis” and “recession is imminent” warns Ambrose Evans-Pritchard in the Telegraph ◆ The outbreak has triggered a collision of unstable debt and the oil price crash is combining with a worrying level of… Read More
As it has become tradition, Goldmoney’s leadership team – Roy Sebag, James Turk, Alasdair Macleod and Stefan Wieler – were joined by a special guest, former Member of the European Parliament Godfrey Bloom, to film the Goldmoney Roundtable and Outlook video on February 29, 2020. A myriad of topics were discussed throughout the roundtable. In… Read More