Daily Market Update

China May Have Over 10,000 Tons of Gold and The U.S. Has Less Than 8,100 Tons


SILVER SHOULD BE 10x HIGHER & WARREN BUFFETT IS “TALKING HIS BOOK” ON GOLD”

Tom of Palisade Radio welcomes Mark O’Byrne, Research Director and founder of GoldCore, back to the show. GoldCore is Ireland’s leading gold bullion broker and storage specialist (est. 2003).

Mark discusses the overall world economy and how it will only take a tiny trickle of capital from the hundreds of trillions in world assets to shift into gold and silver to have a dramatic effect on precious metal prices, especially silver.

Mark discusses the overall world economy and how China is evolving in manufacturing and will gradually welcome a stronger currency. There is a lot of tension between China and the United States. Gold will become a monetary tool of nations in this economic struggle. A lot of gold has been acquired and mined by the Chinese but their actual total gold holdings have not been declared to the world.

There is a lot of electronic manipulation of precious metal markets, and banks have been prosecuted over the years. There is concern about dollar assets if gold is rising, so U.S. authorities have a strong interest in suppressing the gold price. Governments and banks engage in conspiracies all the time, and banks often conspire to make profits. When there are prosecutions and the conspirators are found guilty, we move from “conspiracy theory” to “conspiracy fact.”

Ultimately the free market determines the cost of everything due to the forces of supply and demand from the near 8 billion people on the planet and their economic choices

The silver-gold ratio will revert to the mean soon, perhaps 30 to 1 or better. Having a substantial allocation of gold and silver in your portfolio makes sense. It will only take a tiny trickle of the hundreds of trillions of dollar value in world assets to shift into gold and silver to have a dramatic effect on precious metal prices.

Time Stamp References:
1:05 – Currency and trade wars.
7:00 – Paper and electronic manipulation.
14:00 – Platinum, palladium and silver.
18:30 – Silver as an industrial and monetary metal.
23:00 – Warren Buffet and talking your book
23:45 – The real value of gold.  

Watch Interview Here



NEWS and COMMENTARY

Goldman Sachs bets against the dollar as economies reopen

U.S. manufacturing activity crawls off 11-year low

Stocks rise to kick off June as investors continue to bet on the economy reopening

Gold firms on U.S. protests, standoff with China

Gold prices end slightly lower as investors eye U.S. unrest and tensions with China


GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

01-Jun-20  1734.80 1730.60, 1398.77 1393.13 & 1559.76 1556.16
29-May-20 1725.65 1728.70, 1401.92 1399.73 & 1550.15 1554.97
28-May-20 1723.30 1717.35, 1403.28 1398.27 & 1564.93 1556.61
27-May-20 1705.15 1694.60, 1385.95 1382.12 & 1552.71 1541.92
26-May-20 1722.75 1720.25, 1399.22 1393.57 & 1571.32 1566.63

22-May-20 1732.45 1733.55, 1421.99 1423.59 & 1588.83 1590.71
21-May-20 1732.80 1724.90, 1417.78 1410.45 & 1580.49 1571.04
19-May-20 1735.25 1737.95, 1416.14 1418.34 & 1584.11 1589.01
15-May-20 1734.85 1735.35, 1422.06 1427.67 & 1604.39 1602.60
14-May-20 1716.40 1731.60, 1403.67 1420.09 & 1587.84 1603.98
13-May-20 1699.85 1708.40, 1383.85 1394.74 & 1568.11 1573.09
12-May-20 1703.45 1702.40, 1381.84 1379.80 & 1574.50 1565.87

 

Mark O'Byrne
Executive Director

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