Here is a look at the LBMA and Bank of England smoke & mirrors, plus silver liftoff.
Two Key Numbers For Silver
September 1 (King World News) – James Turk: First hurdle cleared. Two more to go. Silver broke above its short-term downtrend line. Here are the next two targets for Dec silver:
1) Aug 18 $28.78 high and
2) Aug 7 $30 high.
Silver has been building a launch pad. The rocket takes off when/if $30 is hurdled (see chart below).
Silver Liftoff Will Take Place Above $30
LBMA & BoE Smoke And Mirrors
Alasdair Macleod: “LBMA and BoE releasing vault data only one month in arrears, previously three. They claim it’s in accordance with “transparency”. Rubbish – they are trying to convince us there’s lots of gold available with headline figures, when in fact there is little or no trading liquidity.”…
To learn which company Eric Sprott just bought a 20%
stake in click here or on the image below
Dollar Dump
Jeroen Blokland: The US Dollar Index (DXY) has dropped to its lowest level since August 2018, down more than 10% from its March high. (See below).
US Dollar Has Tumbled More Than 10% From Its High
Silver
Ole Hansen, Head of Commodity Strategy at Saxo Bank: Silver supported by copper strength is once again outperforming gold. The Gold/Silver ratio has dropped to 69, the lowest since March 2017. (See below).
Gold/Silver Ratio 69/1, Lowest Since March 2017
***To listen to the timely audio interview that includes price forecasts for gold and silver for the last few months of 2020 click here or on the image below.
Another All-Time Record
***ALSO JUST RELEASED: Another Day, Another All-Time Record CLICK HERE.
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