Bill Holter’s Commentary
Sanity gaining some traction?
This (Completely Reasonable) Change In Investor Behavior Would Send Gold To The Moon
July 7, 2019
Mark Mobius took over for the legendary John Templeton at Franklin Templeton’s Emerging Markets Fund back in the 1980s, and filled those big shoes well for three decades.
Now running his own shop, he recently made what seems like a completely reasonable suggestion about gold – one that if adopted by the broader investment community would send the metal’s price to the moon:
(Bloomberg) — Veteran investor Mark Mobius says that gold’s set to push higher, potentially topping $1,500 an ounce, as interest rates head lower, central banks extend purchases, and uncertainty surrounding geopolitics and cryptocurrencies fans demand.“I love gold,” Mobius, who set up Mobius Capital Partners LLP last year after three decades at Franklin Templeton Investments, said in an interview in Singapore, adding bullion should always form part of a portfolio, with a holding of at least 10%. “As these interest rates come down, where do you go?”
Gold has rallied in 2019, rising to the highest level in six years, as investors contemplate slowing economic growth, prospects for easier monetary policy in the U.S. and Europe and festering trade frictions.
J. Johnson’s Latest – The Resolute Longs in Precious Metals Have Not Budged One Inch!
July 8, 2019
Great and Wonderful Monday Morning Folks,
Gold is trading higher this morning with the price at $1,407.60, up $7.50 after reaching up to $1,409.90 with the low at $1,395. Silver is still tagging along with its trade at $15.105, up 10.4 cents after reaching $15.12 with its low at $14.985. The US Dollar isn’t doing anything right now with its value stuck at 96.905, up 1.5 points, it too close to its high at 96.925 with a low that needs to be beat at 96.765. Of course, all of this was done while we slept before 5 am pst, the Comex open, and the London close.
The Venezuelan Bolivar now has Gold priced at 14,058.41 losing 85.89 in Bolivar value with Silver now at 150.861, down an additional 1.598 Bolivar. Argentina’s Peso now has Gold pegged at 58,842.73, it too losing 719.63 A-Pesos with Silver at 631.347, losing 5.932 A-Pesos. The Turkish Lira now has Gold priced at 8,064.10 showing a gain in value of 123.47 T-Lira with Silver at 86.5390 showing a gain of .9451 in value.
July Silver’s Delivery requests has been our focus with the overall demands for physical posting 754 (5,000 ounce contracts) obligations as of this morning. This is an increase of 27 more receipts from Friday’s one day attempt at scaring the Resolutes, in our opinion a complete failure, and with a Volume of 10 up on the board so far this morning. The trading range for the physical purchases are in between $15.025 and $14.925 and I do see a short in there trying to offer 60 contracts at 15.045. Since every penny is only an additional $50 for 5,000 ounces, I’d suggest the buyer simply take the entire offer and get in line while they can, but that’s just me. Silver’s Overall Open Interest is now at 221,416 Overnighters. This is an increase of 143 more shorts, proving the Resolute Longs have not budged one inch and have the playing field if they wish to push the point further, which is what we know will happen in time.