Inflation-Wary Germans Are Loading Up on Gold https://www.bnnbloomberg.ca/inflation…
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See Full Video Transcript Below
We had a nice little rally in US dollar gold prices. After Chairman Jerome Powell issued his prepared remarks at the Jackson Hole conference, and gold prices are back over $1800 an ounce at least for now. We’ll see what the Fed decides to do with tapering. Although in my personal opinion, if the Fed does taper, it will cause a lot of hedge funds to go bankrupt. They will need bailouts covert or overt. And that is one of the main reasons why the Fed set up a permanent domestic repo facility to covertly bail out hedge funds that were over leveraged with their trades whether that is a leverage short volatility trade the risk parity trade or the basis trade. But back to gold. Now, the physical demand for gold continues to be strong. We just got some new numbers from the world gold council about German physical gold demand for coins and bars, it is up a lot. It is up the most in over a decade increased by 35% from the previous six months compared with 20% for the rest of the world. So it is a big spike. The chart there on the upper right hand side of your screen shows that this is the biggest amount of demand in Germany since at least 2012. So it’s a big big jump and demand for physical gold continues to be strong. for private sector Chinese demand and central banks continue to accumulate as well. So the paper gold price smashes in US dollars. That’s not translating to weak gold prices. In other currencies. Gold prices in other currencies are actually doing very, very well. Whether that’s the gold price in euros the gold price in Japanese yen. The gold price in many other major currencies has already been breaking out. It’s the US dollar gold price that has been manipulated and controlled. With paper price manipulation, it is still extremely profitable for bullion banks and hedge funds to try to manipulate the paper gold prices and blow out stops and make enormous profits on their options trades shorting the gold price. But physical gold demand is clearly picking up from the data that we’re seeing that just came out from the world gold Council. The demand for physical gold is still strong in India, China and net central bank purchases. Finally, if you like content like this, I want to help keep content like this free, so it doesn’t all end up behind a paywall, or you want far more in depth content research, financial education and analysis than I provide any short little free videos. There is now over 180 articles, charts and audio podcasts behind the paywall exclusive for patrons with 26 new articles out in the last 11 or so weeks on a lot of interesting topics about global macro companies and sectors. A lot of in depth articles on gold miners, silver miners, precious metal royalty and streaming companies and whether or not their costs are rising. Also Lately, I’ve been looking for income opportunities in the gold space as that is one of the few industries that is actually hiking dividends that has good profit margins, and is hiking dividends without loading their balance sheets with massive amounts of debt. So yes, the gold price has been going sideways in US dollars. But gold mining companies, their balance sheets have arguably never been cleaner. And so they have enormous profit margins and free cash flow. And some of them are starting to massively increase their dividends. And I also expect that if the gold price remains weak for at least another six months or so that there will be enormous mergers and acquisitions, I might put an article out in the next week or two about that. So if I could wrap up this short little video very quickly, there is still enormous physical demand, it has not affected the US dollar gold price that much yet there has not been a big rally in the US dollar gold price yet, but the gold price in other major currencies is starting to break out. As I’ve said for a long time now, physical demand increases are what precedes big price increases. So any paper price smashes whether that’s net central bank purchases increasing or big increases in coins and barred demand for gold from private sector in Germany, China, India, Asia, people are buying the dips, and that will prevent big paper price smashes from lasting for a very long time or lasting months as they did in the past. Because in the past when there was big paper price smashes like when the gold price dropped $100 a couple weeks ago, that would take months to repair the chart damage, but the gold price rallied in about a week. So it’s a law of diminishing returns for paper price manipulation and all of that starts with physical demand. So physical demand is not drastically raising the price yet. But there is going to be supply problems for gold because There are not going to be a lot of new gold mines coming online. In the near future we are going to need much much higher gold prices in US dollars to bring on new money supply
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