With the price of gold surging $30 and silver up 40 cents, and the Dow down 400, here is a look at what is driving the rally in the gold market outside of the ongoing Trade War between the US and China.
Within hours KWN will be releasing an important audio interview with James Turk about today’s big surge in gold and silver! Until then…
August 23 (King World News) – Alasdair Macleod: “What matters for gold is on LME Precious, indicated yield one-year forward is 1.9%. With negative rates spreading everywhere, and deepening, gold is still the most attractive monetary asset, particularly since it is no one’s liability. And silver is like gold on steroids!
Bullion markets are not being driven by speculators now, but by bullion banks fearing a crossover in LIBOR/Gold rates. 12-month USD LIBOR is 1.9% and so is 12-month gold. If Powell eases, bullion banks will want to hold bullion, not dollars.
Furthermore, demand for bullion against a general shortage is likely to drive gold rates up more along the curve making it even more attractive relative to USD. Very few will really understand why gold just keeps rising.”
More articles to follow…Within hours KWN will be releasing an important audio interview with James Turk about today’s big surge in gold and silver! Until then…
What’s Next For The Gold Bull
READ THIS NEXT! What’s Next For The Gold Bull, Plus The Temptation To Take Profit CLICK HERE TO READ
In the meantime, other important releases…
The Setup For Silver Is Becoming Very Bullish CLICK HERE TO READ
McClellan – The Whole World Is Abuzz CLICK HERE TO READ
How Is This Possible? Trouble Across The Globe, Nothing To See Here, Meanwhile This Is Imploding CLICK HERE TO READ
This Is Today’s Big News CLICK HERE TO READ
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