Daily Market Update

Four Great Gold Advocates: Bill Murphy, Dave Collum, Rob Kirby and Dave Kranzler on Gold

via GATA

Four great gold advocates were brought together on YouTube today by Phil Kennedy of Kennedy Financial to discuss the gold market and the excellent prospects for the precious metals.

Roundtable participants include:

– Bill Murphy, GATA Chairman

– Rob Kirby of Kirby Analytics

– Dave Kranzler of Investment Research Dynamics in Denver

– Dave Collum of Cornell University

Key points made include:

Bill Murphy believes that the physical market is finally tightening up enough to make big trouble for governments and central banks. Murphy notes that silver has caught fire out of the blue in recent weeks.

Rob Kirby says governments are trying to push into cryptocurrecies people who are starting to worry about the world financial system, keeping them away from gold, which is what governments fear most. Kirby believes that JPMorganChase is exempt from penalties for market rigging because the investment bank is broker for the U.S. Treasury Department’s Exchange Stabilization Fund.

Dave Kranzler says the usual smashes in the gold futures market are not having much effect anymore. He disputes the claim that cryptocurrencies have no counterparty risk, arguing that the internet itself constitutes counterparty risk for cryptos. Kranzler adds that major investors know that they better leave the Comex gold futures market alone and not make trouble there by demanding delivery in any size — that is, the Comex is essentially a government market-rigging operation.

Collum says he is confident that the physical market for gold will regain precedence over the paper market.

Watch interview here

Gold Prices via LBMA (AM/ PM Fix – USD, GBP & EUR)

24-Jul-19 1425.55 1426.95, 1142.29 1142.70 & 1279.86 1279.69
23-Jul-19 1417.55 1425.55, 1140.42 1145.29 & 1268.14 1277.01
22-Jul-19 1424.45 1427.75, 1142.69 1143.63 & 1270.04 1272.13
19-Jul-19 1437.05 1439.70, 1148.06 1148.88 & 1278.11 1281.48
18-Jul-19 1420.90 1417.45, 1139.70 1135.94 & 1264.74 1263.51
17-Jul-19 1400.80 1410.35, 1129.61 1135.61 & 1249.09 1256.90
16-Jul-19 1416.10 1409.85, 1136.85 1134.79 & 1260.05 1256.88
15-Jul-19 1416.25 1412.40, 1127.76 1127.24 & 1255.93 1253.79
12-Jul-19 1405.60 1407.60, 1122.23 1122.14 & 1248.74 1251.50



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Commentary

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Mark O'Byrne
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