More Metal Shortages Plus The Road To $10,000 Gold

More reports of metals shortages plus a look at the road to $10,000 gold.

Shortages
December 1 (King World News) – Email from King World News reader Shazad M:  Dear King World News, I would like to express my sincere gratitude for the consistently superb and fascinating commentary on the precious metals market provided on your website.

The quality of your content and the caliber of your special guests such as Alasdair Macleod, Graddhy and the rest of the team is exceptional, the analysis has been incredibly valuable and educational over the years.

Thank you again for your time, effort and dedication to delivering such high-quality market commentary.

P.S We are now also hearing of physical shortages on a local level!

Best wishes from Scotland,

Shazad

Email from King World News reader Kevin W:  For what it’s worth, we are now at about $2.9T in global private gold (21,250 MT) and $1.1T in global mining share value totaling about $4.0T or only 1.6% of global financial assets excluding gold equities. Since the original article published below (on April 4, 2024) https://kingworldnews.com/golds-mega-breakout-targets-10000/ mining shares are moving at about 2.7x the percentage move in gold. Still way undervalued. Given global financial assets do not swoon and stay about the same, $10,000 gold or a 135% increase from Nov. ’25 month end close and a 400% increase in mining shares will just get the total to 5%. That implies about 1,625 in XAU mining index or 16.25% of price of gold. Pretty reasonable.

Considering that the total global mining shares will still be worth only about $5.5T against some 60,000 MT in the ground in P&P reserves, that indicates only about $3000 net value per ounce. At $10,000 per ounce, please show me even the lowest grade unprofitable mine that won’t net more than that. And with over $20T in market cap in just the Mag 7, it doesn’t take much imagination to see the parasitic nature of investment mania moving into real money.

Kevin

$10,000 Gold
April 4, 2024 (King World News) – Email from KWN reader Kevin W:   Egon consistently refers to physical gold as % of financial assets. After his recent article on KWN indicating that figure is currently 0.6%, it made me think. 0.6% in physical gold but also maybe another 0.2% in global mining shares? Made me wonder what every $1000 increase in gold does to these 2 numbers. And what would it take to get this combined value at 5%. 

In 1980 it reached 8% before ending at 5% that year. 

Global Financial Assets ~ $250T.
Global Private Gold ~ $1.5T (21,000 MT)
Global Mining shares ~ $420B 

Now let’s assume global financial assets excluding gold remains roughly $250T while gold and mining rip higher. Based on the existing ounces of gold ounces in the hands of private parties and mining shares thereof, for every $1000 increase in gold and a corresponding move in mining shares at 3x the % increase in gold, it will add roughly $1.2T to the overall value in global gold and mining shares value. Add to that another 500MT of newly mined private invested gold in each of the next 2 years. To get to 5% of $250T or $12.5T, it will require about $10,000 per ounce of gold. 

If global financial assets swooned simultaneously by 20%, $8000 gold would bring it to 5%.

Currently global proven and probable gold reserves amount to about 59,000 MT valued at $4.3T. With their market value at only 10% on a whole, mining shares appear grossly undervalued…

Kevin

Just Released!
To listen to James Turk discuss the Comex shutdown on Friday and the wild trading that occurred after it reopened CLICK HERE OR ON THE IMAGE BELOW.

Just Released!
To listen to Alasdair Macleod discuss the Comex shutdown as well as the wild trading on Friday CLICK HERE OR ON THE IMAGE BELOW.

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