This compilation of financial insights includes videos from Arcadia Economics, Kitco News, Palisades Gold Radio, and SD Bullion.
Rafi Farber on Arcadia Economics talks about silver acting like it did from 1968 to 1973.
Will Rhind, Founder & CEO of Granite Shares joins Jeremy Szafron, Anchor at Kitco News to discuss how the US e------n could impact gold and stocks.
Bob Coleman and Steve St. Angelo joins Tom on Palisades Gold Radio to discuss institutional investors, gold prices, and an unusual disconnect.
SD Bullion talks about India’s record silver imports.
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Arcadia Economics
Premiered Mar 15, 2024
Silver is always late to the party, but it always sprints the finish line and wins the race. It’s like the hare, except in this parable, the hare beats the tortoise. It’s happened twice before.
From 1968 to 1973 with a parabolic spike in 1974, and from 1974 to 1979, with a parabolic spike in 1980. It’s a pattern that repeats over and over again, and Rafi Farber believes this will be the final repeat before silver is remonetized. Not by any central bank, and not by any government, but the every day, average Joes and Janes of the world.
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Kitco NEWS
Mar 15, 2024
Jeremy Szafron, Anchor at Kitco News, interviews Will Rhind, Founder & CEO of Granite Shares, to discuss the unexpected rise in the Producer Price Index (PPI) for February, and the implications for the Federal Reserve’s monetary policy. Rhind talks about the resilience of gold in a fluctuating market, its appeal compared to other investments in the face of potential stagflation, and the impact of the U.S. e------n year on market volatility. Rhind speaks on the direction of the economy, interest rate expectations, and strategies for investors navigating the current financial markets.
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Palisades Gold Radio
Mar 15, 2024
Tom welcomes back Bob Coleman and Steve St. Angelo to discuss the precious metals markets. The market is undergoing a significant shift, with more sellers than buyers and dealers finding it difficult to sell at profitable prices. This has resulted in a collapse of bids and an increase in spread risk. There are also risks associated with storing metals with dealers due to counterparty risk, storage risk, and the structure programs they may be involved in.
The market has moved from retail demand to a paper market that is shorting precious metals, causing prices to rise but sentiment to remain negative. Investors are waiting for lower prices to buy again. The spike in silver prices could be due to increased inventory buying by wholesale dealers who then sell futures contracts to finance their purchases. This carry trade can become unsustainable if the price of silver rises and dealers are forced to buy back their futures contracts at a loss, potentially fueling further price increases.
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In the gold market, GLD flows and gold prices have historically moved together, but this relationship changed when interest rates started rising rapidly in mid-2022. Institutional investors have not sold much of their gold or GLD, suggesting that most of the selling is happening outside the institutional market. The strong demand for Treasuries at high-interest rates and reduced central bank gold purchases might be driving the price of gold.
There has been a shift in capital allocation from ETFs holding metals to other asset classes, particularly technology stocks. This trend poses challenges for precious metal investors but also creates opportunities for those who can identify value and navigate the current market conditions. They note that there is a risk of reaching a “max s----d point” where the market becomes overheated and unsustainable.
Gold and silver markets are heavily influenced by paper trading, hedging, financialization, and cost of production. Shifts in demand from east to west and short squeezes in the futures market can impact prices. ETFs that hold physical metals but issue new shares based on demand carry a risk of decreasing premiums to net asset value if the price of the metal falls. It is important to understand the complexities of paper trading and hedging in these markets, as well as the potential for market m----------n by authorized participants and market makers.
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SD Bullion
Premiered Mar 15, 2024
Last month, February 2024, India made its largest monthly import of physical silver on record.
Gold finished this week slightly down from its record nominal price run last Friday. The spot gold price again closed over $2,150 fiat US dollars per ounce and has now completed 17 weeks in a row above the building $2000 oz price support level. It wasn’t too long ago that this price level was resistance.
The spot silver price popped a bit this week, closing above the $25 oz threshold. It will be interesting to see when we next make a run at $26 oz, possibly next week.
As a result of silver’s relative strength this week, the spot gold-silver ratio fell to a still historically high level of 85.
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