In The News Today

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Bill Holter’s Commentary

They’re calling it a gold rush, we call it a bank run…either way it is the same thing in the end!

Gold Is New Obsession for East Europe’s Nationalist Leaders
November 28, 2019

Gold is all that nationalist leaders in Europe’s east can talk about these days.

Just this week, Poland’s government touted its economic might after completing the repatriation of 100 tons of the metal. Over in Hungary, anti-immigrant Prime Minister Viktor Orban has been ramping up holdings of the safe-haven asset to boost the security of his reserves.

Hungary’s Prime Minister Victor Orban Attends The Opening Session Of Parliament

The gold rush mirrors steps by Russia and China to diversify reserves exceeding $3 trillion away from the dollar amid flaring geopolitical tensions with the U.S. Motivations in Europe’s ex-communist wing, however, can vary.

Take the latest example. Former Slovak Premier Robert Fico, who has a shot at returning to power, urges parliament to compel the central bank into bringing home gold stocks stored in the U.K.

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J. Johnson’s Latest – The Biggest Delivery Month In Precious Metals Is Here!
December 2, 2019

Great and Wonderful Monday Morning Folks,   

      We are now in the biggest delivery month in Precious Metals. It used to mean something till all the Algos came in and controlled everything, with the governing bodies saying “thank you very much” for the churned fees they get off of every transaction made, with Gold now at $1,464.30, down $8.40 after being dipped to $1,459.80 with the high at $1,470.60. Silver is Silver, tagging along as if it wasn’t necessary, with its trade at $16.97, down 13.6 cents after it was dipped to $16.895 with the high up at $17.100. With trade wars everywhere, with various nations printing money in order to “stay” a nation everywhere, one would assume (incorrectly) that currencies would be collapsing in purchasing power, and they should be, yet here we are with the wildly printed US Dollar now at 98.24, up 3.8 points after being rallied to 98.32 with the low at 98.205. All of this happened already, before 5 am pst, the Comex open, and the end of London’s trade.    

      In Venezuela, their currency now has Gold gauged at 14,624.70 Bolivar, down only 4 from my last report with Silver at 169.488 down 0.30 Bolivar. In Argentina, where US tariffs are now being applied, Gold is now trading at 87,687.84 Pesos, proving a gain of 153.93 over this 5 day time period with Silver now gauged at 1,015.83 Pesos, showing us a 0.30 A-Peso loss in value. In Turkey, the Lira now has Gold valued at 8,427.81 proving a gain of 26.62 T-Liras with Silver now priced at 97.6612 showing the slightest gain of 0.0998 of a T-Lira. In short last week was all about the bird.    

      December Silver’s Physical demand count now stands at 2,424 fully paid for contracts waiting for receipts and with a Volume of 40 posted up on the board so far and with a trading range between $16.915 and $16.785 with the last price at $16.895. Last Tuesday’s Open Interest in the December Contract tallied 34,496. Wednesday’s numbers totaled 15,991, with Thursday’s (Yes, the US markets were closed, yet if you had a dedicated full-service broker, they could still place your trade in the ICE markets all day long), and Friday’s numbers being unchanged at 4,702. Last Friday was The First Notice Date for Silver bringing us into todays’ number showing a demand for physicals at 12,120,000 ounces standing for delivery. Nothing to worry about here, since the most trusted Criminal Element claims nothing is out of place with their unverifiable warehoused numbers, and up to 9 individuals being charged for manipulation at their Precious Metals trading desk we’ve written about, and still we wait for Blythe Masters and friends in management to be charged by the DOJ (maybe).     

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