Research Director of GoldCore, Mark O’Byrne discusses the safest way to invest in precious metals, the outlook for the precious metals markets, what lead him to start a bullion brokerage and storage company and why silver could rise by 10 times in the coming years.
He outlines the differences between bail-outs and bail-ins and why he thinks that while bail-ins may occur, they are less likely to occur than before. It seems that central banks and governments are planning on inflating their debts and hence currencies away. Still best to be cautious and not keep too much money in bank deposits and always evaluate bank risk.
GoldCore provide storage services and bullion sales around the world, with most client assets stored in ultra secure vaults in Singapore and Switzerland. They had concerns about the liquidity and political situation in Hong Kong, so choose to move nearly all of their clients’ coin and bar assets out.
Jurisdiction is a vital consideration when storing precious metals. He feels the confiscation risk to Americans is low because so few have physical gold and silver in their possession when compared to 1933. He is very cautious about ETF’s, gold exchanges, digital gold and U.S. vaults that hold significant quantities of bullion. They could be a target of nationalization by a desperate U.S., Canadian, UK or EU government.
His expectations for silver are quite bullish. He cautions that price manipulation has been a real issue and is likely continuing today as silver prices languish despite massive shortages and surging premiums on silver coins and bars. He expects a short squeeze situation to develop soon, which could quickly drive gold, platinum and particularly silver prices much higher.
0:30 – The starting of GoldCore.
4:26 – Bail-ins and bail-outs.
5:50 Bank account “guarantees” are far from guaranteed
7:00 – Why countries are inflating currencies.
8:40 – GoldCore’s focus on gold and silver bullion as insurance.
12:30 – Importance of considering jurisdictional risks and why Zurich remains the preferred storage location of HNW and companies.
22:00 – Silver outlook and why silver will go much, much higher.
26:45 – Massive systemic risks and the coming debt reset.
29:45 – Stay calm, optimistic and prepare materially by owning gold and silver in the safest ways possible and we will get through the coming global economic, financial and currency crisis.
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NEWS and COMMENTARY
Gold gains on bleak U.S. data, but en route for 2% weekly fall
Gold demand inched up to 1,083.8 tonnes (t) in Q1, supported by investment
Oil rises again as output cuts kick in, inventories grow less than expected
Trump threatens new tariffs on China in retaliation for coronavirus
Gold Loses Shine on Moderating Coronavirus Fears
GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)
04-May-20 1703.70 1709.10, 1371.14 1374.63 & 1558.72 1563.83
01-May-20 1673.05 1686.25, 1332.08 1347.15 & 1523.14 1536.68
30-Apr-20 1716.75 1702.75, 1373.92 1361.69 & 1577.86 1568.91
29-Apr-20 1706.00 1703.35, 1371.97 1368.64 & 1569.69 1568.10
28-Apr-20 1708.10 1691.55, 1367.68 1357.98 & 1571.11 1559.27
27-Apr-20 1717.25 1714.95, 1381.36 1380.19 & 1582.96 1581.18
24-Apr-20 1727.25 1715.90, 1401.32 1391.59 & 1604.96 1589.09
23-Apr-20 1727.55 1736.25, 1399.49 1405.84 & 1601.78 1608.64
22-Apr-20 1702.65 1710.55, 1377.95 1388.28 & 1567.46 1576.44
21-Apr-20 1678.60 1682.05, 1328.16 1364.82 & 1548.00 1547.82
20-Apr-20 1684.95 1686.20, 1349.14 1355.70 & 1547.63 1551.98
17-Apr-20 1693.15 1692.55, 1362.48 1354.04 & 1564.47 1555.79
16-Apr-20 1717.85 1759.50, 1378.57 1382.91 & 1581.45 1589.06
15-Apr-20 1712.25 1718.65, 1367.92 1377.33 & 1566.02 1580.99
14-Apr-20 1715.85 1741.90, 1367.36 1383.07 & 1567.91 1588.26
