Gold Investments Market Update – Gold Remains Taboo in Most Financial and Economic Commentary

Gold

After initial falls, gold has rallied in morning trade in London as the dollar has given up some of its recent sharp gains. Gold’s rise comes despite the further fall in oil prices but gold remains firmly in its recent narrow range between $780 and $840.

The disconnect between the leveraged futures market and the physical bullion market continues with many wholesalers and retailers finding it hard to source and supply bullion coins and bars in the US and internationally. This is particularly the case with silver bullion coins and bars (all bars except 1000 ozt silver bars are becoming difficult to source) in the US and with gold bars in Asia. Gold Investments is continuing to be able to supply our clientele with all their physical bullion needs without delays but only through an extensive network of wholesale suppliers internationally.

Reuters quotes a bullion dealer in Singapore. “Demand from our regular customers such as India, Indonesia and Thailand is still there. There’s a shortage of physical bars in this region, which also helps support premiums.”

Gold Remains Taboo in Most Financial and Economic Commentary

Much of the financial and business press still fails to grasp the magnitude of the current crisis and Pollyanna, delusional analysis remains the order of the day in large part. Gold and silver bullion remain the preserve of the smart money. This smart money which has been ahead of the curve and realised the extent of the problems facing the US financial system and hence global economy, remains a tiny fraction of the international investment community.

Gold remains taboo in most of the financial and economic community – it is largely ignored and when it is occasionally covered it is often done so in an unbalanced and biased fashion by non experts who know little or nothing about the supply and demand fundamentals and the other very strong fundamentals driving the market. The media and investors remain obsessed with equity markets and wrongly assume that a one day stock market rally signifies some form of return to economic health.

Gold is the elephant in the room and blurts out unpleasant truths about our current global financial and monetary system. Unpleasant truths that most commentators do not have the courage to face.

Many if not most investment “experts” and economists still regard gold as a “useless commodity” or a “speculative commodity” (akin to pork bellies) rather than the finite, safe haven currency it remains and will increasingly become in the coming recession or Depression.

The mainstream majority remains oblivious and is still buying increasingly risky stocks including financial stocks as witnessed yesterday. Unfortunately, ignorance will not be bliss for the clueless and complacent as the global economic crisis continues to deepen and real wealth preservation again becomes of paramount importance.

Today’s Data and Influence

Markets await US data on housing later today with the release of the National Association of Realtors Pending Home Sales for July. Economists expect a 1.0 percent decline compared with a 5.3 percent rise the previous month.

Gold and Silver

Gold is trading at $803.60/804.10 per ounce (1200 GMT).
Silver is trading at $12.09/12.15 per ounce (1200 GMT).

PGMs

Platinum is trading at $1296/1306 per ounce (1200 GMT).
Palladium is trading at $250/266 per ounce (1200 GMT).

Mark O'Byrne

Also on news-goldcore-com

Videos

What we can Learn from the International Gold Market

Jim Rogers Interview 2022

US CPI Data Release Update

Blog posts

Brace Yourself for the Impact

Fed’s message this week – higher rates, lower economic growth, higher unemployment. The Fed hiked interest rates by 75 basis points for the third straight meeting and the statement said that the committee anticipates further increases. The Summary of Economic Projections (SEP) showed that the median projection is for a further 1.25% increase by yearend. […]

READ MORE

What we can Learn from the International Gold Market

Today’s guest on GoldCore TV thinks it’s very likely that in the next ten years we will be moving onto a new gold standard. It is of course, not uncommon for gold market commentators to say something along these lines. But Jan Nieuwenhuijs is a gold analyst, who is bringing the chat around gold demand […]

READ MORE

Jim Rogers Interview 2022

We last spoke to Jim Rogers way back in January. He told us then that we were set to see the ‘worst bear market’ in his ‘lifetime’.  Since then, a lot has changed. Russia has invaded Ukraine, inflation has gone on a tear, Europe is facing a major energy crisis and the US has been […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

What we can Learn from the International Gold Market

Jim Rogers Interview 2022

US CPI Data Release Update

Blog posts

Brace Yourself for the Impact

Fed’s message this week – higher rates, lower economic growth, higher unemployment. The Fed hiked interest rates by 75 basis points for the third straight meeting and the statement said that the committee anticipates further increases. The Summary of Economic Projections (SEP) showed that the median projection is for a further 1.25% increase by yearend. […]

READ MORE

What we can Learn from the International Gold Market

Today’s guest on GoldCore TV thinks it’s very likely that in the next ten years we will be moving onto a new gold standard. It is of course, not uncommon for gold market commentators to say something along these lines. But Jan Nieuwenhuijs is a gold analyst, who is bringing the chat around gold demand […]

READ MORE

Jim Rogers Interview 2022

We last spoke to Jim Rogers way back in January. He told us then that we were set to see the ‘worst bear market’ in his ‘lifetime’.  Since then, a lot has changed. Russia has invaded Ukraine, inflation has gone on a tear, Europe is facing a major energy crisis and the US has been […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE