Radio Show Newsletter
CHARTS OF THE WEEK-QUOTES-QUICK HITS
-CHART OF THE WEEK: What Brexit Means for Britain, It Also Means for Breakfast. WTO tariffs could lead to 12.8 percent increase in cost of fry-up after Britain leaves the EU. The U.K.’s legendary morning feast may be a perfect metaphor for how Brexit will make British life more expensive. Politicians including Scottish First Minister Nicola Sturgeon and Labour Party leader Jeremy Corbyn who have confused “Brexit” with “breakfast” are on to something more than a phonetic mistake.
Ultimately, it’s what the U.K.’s departure from the European Union means for the island nation, served up hot on a plate, according to analysis from KPMG. British consumers could see the price of a fry-up a classic English breakfast with ingredients like bacon, sausages, orange juice, baked beans and mushrooms increase by almost 13 percent. Tariffs would hike up the cost of imports of many breakfast staples under WTO rules if the U.K. quits the bloc with no free trade arrangement or transitional agreement in place. Read more here-https://bloom.bg/2sNbDNS and https://bloom.bg/2uPfYBy
-CHART OF THE WEEK: Ray Dalio Calls End of Central Bank Era, Time to Head to Party Exit. Dalio Calls End of Central Bank Era, Time to Head to Party Exit. Famed hedge-fund investor Ray Dalio called time on the era of central bank stimulus, saying the global economy is heading toward a new stage where markets won’t get the same level of support from monetary policy makers. “The directions of policy are reversing,” with central banks slowing the flow from their proverbial punch-bowls of stimulus, Dalio, chairman of Bridgewater Associates, the world’s largest hedge fund, wrote in a July 6 note. “Our responsibility now is to keep dancing, but closer to the exit and with a sharp eye on the tea leaves.” Read more here-https://bloom.bg/2u6ihTv
-CHART OF THE WEEK: Emerging Markets Face SATT Problem to Rival Nasdaq’s FAANG Woes. The increasing gravitational pull of Asian technology giants such as Samsung Electronics Co. and Alibaba Group Holding Ltd. has investors concerned the group is developing the same outsized influence on emerging markets as the so-called FAANG group has been exerting on U.S. equities. Samsung, Alibaba, Tencent Holdings Ltd. and Taiwan Semiconductor Manufacturing Co. together accounted for 32 percent of total gains in the MSCI Emerging Markets Index this year through Thursday, data compiled by Bloomberg show.
Alibaba and Tencent each contributed at least 9 percent. That’s eerily similar for some to the phenomenon known as FAANG Facebook Inc., Apple Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc. stocks that’ve delivered 50 percent of the Nasdaq 100 Index’s gains this year. “Fears of a major emerging-market information technology selloff do exist and are mainly derived from concerns over the U.S. Nasdaq index,” Geoff Dennis, Boston-based strategist with UBS Securities, said in a July 4 report. “Our U.S. strategist is still overweight in tech although he believes the ‘summer squall’ in the sector may have slightly further to run.” Read more here-https://bloom.bg/2ubq8i3
-CHART OF THE WEEK: Cryptocurrencies Are Getting Crushed. The cryptocurrency Cassandras are starting to look right. The sector has lost about a third of its market value since peaking in early June, pushing it into what traditional equity market analysts label as a bear market. Bitcoin, the largest of the digital currencies, is down about 20 percent from its peak of $3,000, reached June 12. Smaller rivals such as ethereum and ripple are getting hit even harder.
“When when we look for signs of excess in the market, I look at bitcoin and to me that looks pretty scary,” Richard Turnill, global chief investment strategist at BlackRock Inc., said during a midyear outlook presentation in New York on Tuesday. Whether the virtual currencies were caught up in an asset-price bubble was debated as the market capitalization of the sector soared this year, raising skepticism from pundits including tech billionaire Mark Cuban. Backers such as Ripple Chief Executive Officer Brad Garlinghouse, whose money-transfer company is tied to the third-largest cryptocurrency by market value, said he isn’t convinced.
“I would be surprised if there was a major crash,” Garlinghouse said in an interview at Bloomberg’s New York headquarters Monday. “Could we see digital assets continue to double or triple or quadruple from where we are today? That wouldn’t surprise me at all.” Digital coins are currently worth around $80 billion, down from a market capitalization of $100 billion on Friday and $115 billion on June 14, according to data from Coinmarketcap.com. Read more here-https://bloom.bg/2u70M5v and https://bloom.bg/2tL9DHr and https://bloom.bg/2ugvmdu and https://bloom.bg/2tOlrJ5
-Goldman Sachs Group Inc. is warning that oil could fall below $40 a barrel if there is no move from the Organization of Petroleum Exporting Countries to increase output cuts. The bank, which recently admitted it had misjudged the commodities market this year, last month cut its end-of-year price target for crude by $7.50 to $47.50. A barrel of West Texas Intermediate for August delivery was trading at $42.25 Tuesday at 5:30 a.m. Eastern Time. Bloomberg
-Bond investors are sitting on losses amounting to $681 billion over the course of last week, the worst weekly slump since mid-November following Donald Trump’s surprise election win, according to the Bloomberg Barclays Global-Aggregate Total Return Index. The bulk of the drop came after bunds, made vulnerable by Mario Draghi’s shifting stance, tumbled in the wake of a weak French auction. Bloomberg
-Singaporean sovereign wealth fund GIC Pte warned that investors are being too complacent about looming market risks, while disclosing that its main performance gauge fell for the second straight year. “We are cautious because valuations are stretched, policy uncertainty is high and there are still unresolved economic imbalances,” Lim Chow Kiat, GIC’s chief executive officer, said in an interview in the city. The “uncertainty level is very high,” in contrast to “very low” actual equity price volatility, he said. “We think this indicates investor complacency, another reason for us to be more cautious.” Bloomberg
-There could be trouble ahead for developed world equity markets with “frothy” valuations as central banks start shifting policy, according to Deutsche Bank AG. Price-to-earnings ratios increased steadily after the global financial crisis as waves of monetary stimulus pulled down the yields on safe assets, spurring investors into riskier options. That dynamic may be on the verge of reversing with a turnaround in policy now underway in developed nations other than Japan, Mikihiro Matsuoka, chief economist of the Japanese unit of Deutsche Bank AG, wrote in a note dated July 10. The average of the standard deviation of stock-market capitalization as a percentage of GDP in seven major developed countries has been approaching the previous peaks of 2000 and 2008, Matsuoka highlighted. Bloomberg
-Crispin Odey, who made money for a second straight month by sticking to bearish equity bets, said the chance of a market crash is rising as growth slows and the Federal Reserve normalizes interest rates. The credit cycle boosted by loose monetary policy has peaked and there’s a widespread slowdown in the auto, commodity, industrial and retail sectors, Odey wrote in a letter to investors. Unlike previous dips since the financial crisis, central banks aren’t responding by printing more money. “This time they are doing the reverse,” which is likely to exacerbate the negative trend, the London-based hedge fund manager wrote. “All this sits very uncomfortably with the fun being felt in the stock markets. When I look at the move up since Trump’s election as president, I detect the walk of a drunken man.” Bloomberg
-Business leaders in the U.K. are warning that a promised post-Brexit trade deal between Britain and the U.S. will prove hard to deliver, with America’s vastly greater leverage and experience in negotiating such deals likely to force Prime Minister Theresa May to make difficult compromises. Any deal will have an awkward starting point with national statistical agencies reporting that each currently runs a trade surplus with the other. In the U.K., sentiment among financial firms fell in the three months to June, the fifth drop in the last six quarters. Bloomberg
-The People’s Bank of China is showing signs that it is are ready to start pumping liquidity back into the country’s financial system after the central bank conducted the first open-market operation in 13 days overnight. With 459.5 billion yuan ($67.6 billion) of funds issued via reverse-repurchase agreements and the PBOC’s medium-term lending facility coming due this week, government and policy banks are set to issue almost 500 billion yuan of bonds by Friday. With companies hoarding cash due to tax payments at the end of this month, the extra liquidity will probably be needed. In an unusual development, Taobao, the country’s largest e-commerce platform owned by Alibaba Group Holding Ltd., is offering non-performing loans for sale to the highest bidder along side everything from food to electronics. Bloomberg
Gold, as we have noted in a previous letter, has been the top-performing asset class since 2000, the dawn of radical monetary experimentation. We believe that a hard look at the facts suggests that a return to the normality of the past is unattainable, and that the captains of economic policy are living in a dream world. In light of these considerations, investor disinterest in gold and the implied expression of trust in the sustainability of current economic arrangements bewilders us, especially when even small exposure to the metal would be the financial-asset analog of fire insurance on one’s home. We therefore recommend taking advantage of periodic pullbacks in the precious-metals sector to initiate or expand positions. John Hathaway Senior Portfolio Manager Tocqueville Asset Management L.P. July 10, 2017
-Bank of Canada Raises Rates for First Time in 7 Years. Canada became the first Group of Seven country to join the U.S. in raising interest rates on Wednesday, fueling speculation the world’s central bankers are heading into a tightening cycle. The central bank’s benchmark rate was raised to 0.75 percent, from 0.5 percent. It said future rate moves will be “guided” by the data, while downplaying recent sluggishness in inflation. Investors are looking at the decision as a possible harbinger of things to come globally and are monitoring it for clues on the central bank’s resolve for withdrawing stimulus, with the prospect of central bank tightening has triggered a selloff in government bond markets over the last two weeks.
Canadian government bonds yields and the country’s currency rose after the hike, on expectations the Bank of Canada will follow with a second rate hike this year. “Governing Council judges that the current outlook warrants today’s withdrawal of some of the monetary policy stimulus in the economy. Future adjustments to the target for the overnight rate will be guided by incoming data as they inform the Bank’s inflation outlook, keeping in mind continued uncertainty and financial system vulnerabilities,” it said in the statement. Read more here-https://bloom.bg/2uRZZCY and http://bit.ly/2u9q96E
-The Bank of Canada Shows It’s the Federal Reserve of the North. A North American central bank hiking rates in the face of strong job growth and deteriorating core inflation rates, citing temporary factors for the drop-off in price pressures. No, it’s not Janet Yellen’s Federal Reserve it’s Stephen Poloz’s Bank of Canada. On Wednesday, the Bank of Canada delivered its first interest-rate hike in almost seven years, becoming the first Group of Seven central bank to join the Fed in policy normalization, the first concrete step toward global monetary policy convergence. And it followed the Fed in more ways than one. Read more here-https://bloom.bg/2vdmuS0
-Pool of Negative-Yield Debt Shrinks Rapidly as Bond Market Turns. Central bankers’ signals of a coming end to the era of unprecedented stimulus are helping shrink the pile of debt with negative yields, which is now the smallest since just after the Bank of Japan went sub-zero. The selloff in global bonds that started in June means there is $6.5 trillion of securities in the Bloomberg Barclays Global benchmark index that guarantee losses if held to maturity. That’s down from a peak of more than $12 trillion just after the U.K.’s Brexit referendum in June last year. It now represents a mere 14 percent of the overall index, the lowest in 18 months.
Policy makers over the past decade responded to a slew of crises that followed the 2008 credit crunch by slashing policy rates to levels that were not just unprecedented, but in some cases previously deemed almost inconceivable breaking below the zero bound. The world’s three biggest monetary authorities doubled down with asset purchases that swelled their combined balance sheets to almost $14 trillion. Now, they are hoping that growth momentum is healthy enough to cope with a more normal policy mix and that is starting to turn the world of bonds back into a more recognizable place. And a healthier one for pension funds and banks that need higher long-term rates to boost returns. Read more here-https://bloom.bg/2uj8REM
-Yellen’s Take on Inflation Shifts Subtly in Remarks to Congress. Federal Reserve Chair Janet Yellen on Wednesday altered the language she used to describe recent softness in inflation, expressing deeper concerns over how persistent that weakness may prove. In written testimony to lawmakers, Yellen noted declines in “certain categories of prices,” in a reference to drops in prices for mobile telecommunications services and pharmaceuticals. However, she called lower inflation “partly the result” of those factors. In June, her take was subtly, but importantly, different. At the beginning of a June 14 press conference after a Fed meeting at which officials voted to raise interest rates, Yellen said recent lower inflation was driven “significantly by what appear to be one off reductions in certain categories of prices.” That followed a pattern Yellen had established of referring to recent weak readings on inflation as “transitory.” Read more here-https://bloom.bg/2ueUX5p
-Gundlach Sees More Pain for Bond Bulls as Hedge Funds Make Exit. Hedge funds that built up bullish long-end Treasury wagers to the highest outright level since 2008 are rushing for the exit as a government bond rout that started in Europe following a weak French debt auction is spreading to the U.S. market. Thirty-year yields surged as much as seven basis points Thursday to 2.92 percent, breaching both 50- and 200-day moving averages. Open interest in September long-bond futures has dropped by around $3.7 million since June 28 in dollar-value per basis point move, or DV01, terms, a sign bulls are starting to liquidate positions in the sector.
Speculators in recent weeks were the most bullish on 30-year Treasury futures on a net basis this year, according to Commodity Futures Trading Commission data. The recent selloff is a sign of more pain to come for Treasury bulls, according to DoubleLine Capital Chief Executive Officer Jeffrey Gundlach, whose firm oversees $109 billion and said a year ago that yields had hit bottom. With a Federal Reserve seemingly committed to raising interest rates a third time this year and speculation the European Central Bank could announce a tapering of bond purchases by the end of the year, the fundamentals aren’t encouraging. As yields are now approaching key technical marks that could trigger a fresh flush out of long-end bulls, the risk is building that Treasury yields go even higher. Read more here-https://bloom.bg/2tGoqVd and https://bloom.bg/2tGh4kA
-JPMorgan Chase & Co. Chairman Jamie Dimon said the unwinding of central bank bond-buying programs is an unprecedented challenge that may be more disruptive than people think. “We’ve never have had QE like this before, we’ve never had unwinding like this before,” Dimon said at a conference in Paris Tuesday. “Obviously that should say something to you about the risk that might mean, because we’ve never lived with it before.” Central banks led by the U.S. Federal Reserve are preparing to reverse massive asset purchases made after the financial crisis as their economies recover and interest rates rise.
The Fed alone has seen its bond portfolio swell to $4.5 trillion, an amount it wants to reduce without roiling longer-term interest rates. Minutes of the Fed’s June 13-14 meeting indicate policy makers want to begin the balance-sheet process this year. “When that happens of size or substance, it could be a little more disruptive than people think,” Dimon said. “We act like we know exactly how it’s going to happen and we don’t.” Cumulatively, the Fed, the European Central Bank and the Bank of Japan bulked up their balance sheets to almost $14 trillion. The unwind of such a large amount of assets has the potential to influence a slew of markets, from stocks and bonds to currencies and even real estate. Read more here-https://bloom.bg/2ugD3QK
-CBO and OMB Agree: Federal Spending Will Top $4T for First Time This Year. Both the Congressional Budget Office and the White House Office of Management and Budget project that federal spending will top $4 trillion for the first time in fiscal 2017, which began on Oct. 1, 2016 and will end on Sept. 30. In its “Update to the Budget and Economic Outlook: 2017 to 2027” published last week, CBO projected that total federal spending in fiscal 2017 will hit $4,008,000,000,000.
That is up from the approximately $3,853,000,000,000 that CBO and OMB say the federal government spent in fiscal 2016. In President Donald Trump’s fiscal 2018 budget proposal, the OMB estimates that federal spending in fiscal 2017 will hit $4,062,000,000,000. The $4,008,000,000,000 the CBO estimates the federal government will spend this fiscal year equals $33,805 for each of the 118,562,000 households the Census Bureau estimated were in the United States as of March. Read more here-http://bit.ly/2ugNsfq
-These U.S. States Still Haven’t Fully Recovered From Recession. As the U.S. economy enters its ninth year of expansion this month, many Americans feel the recovery has been incomplete and the numbers back them up. Five states Arizona, Connecticut, Mississippi, Nevada and Wyoming still haven’t regained their levels of gross domestic product from before the financial crisis, more than five years after the country as a whole hit that milestone. Eight states are below prerecession levels of employment. And 15 have home prices that have yet to rebound fully. Read more here-https://bloom.bg/2tLDVcQ
-Toronto Home Sales Drop Most in Eight Years. Toronto’s housing market is losing steam. A series of government measures and the prospect of higher interest rates boosted listings and sparked the biggest sales decline in more than eight years last month, the Toronto Real Estate Board reported Thursday. Average home prices rose just 6.3 percent to C$793,915 ($612,000), the smallest annual increase since January 2015. Toronto’s real estate market, mostly known for bidding wars and 20 percent price gains, is beginning to feel the effects of government rule changes that make it harder to get a mortgage.
A liquidity crisis at one of the country’s largest alternative lenders is also reducing confidence that home values will continue their upward march. Home sales in Canada’s largest city slid 37 percent to 7,974 in June from the prior year, the third straight decline and the most since January 2009, the board said. Owners flooded the market with properties, with listings up 16 percent to 19,614. Average prices dropped 14 percent in the last three months across the Toronto region to C$793,915, reflecting fewer sales of large homes. That compares with a 1 percent rise over the same period last year. Deals for single-family homes in Toronto and its surrounding regions fell 45 percent and average prices dropped 12 percent from April to C$1.06 million. Read more here-https://bloom.bg/2tchf3C and http://bit.ly/2sNPBuA and http://bit.ly/2ubTo8u
-Vancouver Extends Airbnb Rules as Home Prices Keep Rising. Vancouver is set to introduce new restrictions on Airbnb Inc., Expedia Inc.’s HomeAway unit and other short-term rental operators as Canada’s priciest housing market seeks to ease its near-zero supply of homes to let. “Housing is first and foremost for homes, not to be operated as a business,” Mayor Gregor Robertson told reporters on Wednesday. Under the new rules, residents will only be able to rent principal residences and will be required to obtain a business license and pay as much as a 3 percent tax on stays. Rentals of secondary suites, laneway homes and investment properties will be prohibited. City officials said they would be ready to pursue legal action against violators, as well as a C$1,000 ($770) fine. Read more here-https://bloom.bg/2tGACFG
-Manhattan apartment prices hit record, averaging $2.19 million. Prices for Manhattan real estate hit a new all-time high in the second quarter, with apartments now selling for an average of $2.19 million, according to a new report. The total number of sales jumped 15 percent compared with last year, to 3,153, according to the report from Douglas Elliman Real Estate and Miller Samuel Real Estate Appraisers and Consultants. The average sales price rose 8 percent over the same period last year, hitting $2.19 million. The median sales price also hit a record, up 7 percent to $1.19 million. While homes were sitting on the market slightly longer, inventory fell modestly. Read more here-http://cnb.cx/2uP1wtv and https://bloom.bg/2uPhDas
-Halliburton Says Oil Will Spike in 2020 After $2 Trillion in Industry Cuts. Halliburton Co. expects that the worst crude crash in a generation will lead to a spike in oil prices by 2020. Tumbling oil prices brought on by a glut of global oil has forced the industry to slash about $2 trillion in investments, according to the world’s biggest fracking provider. Those cuts will weigh heavily on the market in a few years when oil supplies fail to keep up with demand, Mark Richard, the company’s senior vice president for global business development said Wednesday in an interview at the World Petroleum Congress in Istanbul. “Sooner or later, the market is going to catch up,” Richard said. “You’ll see some kind of spike in the price of oil.
Maybe somewhere around 2020-2021, but it’s got to catch up sooner or later.” The oil industry has been struggling to climb out of a downturn that eliminated more than 400,000 jobs, forced hundreds of companies into bankruptcy and led to sharp output cuts after oil prices tumbled from more than $100 a barrel in the middle of 2014 to a low of $26.05 in February last year. Explorers in North America, where Houston-based Halliburton generates most of its sales, were the first to return to work, boosting spending 10 times faster than the rest of the world. The international markets, which generally take longer to turn around due to the more massive projects underway, “hopefully” hit rock bottom in the first half of this year, Richard said. Read more here-https://bloom.bg/2vd5wn7
-Canadian Oil Patch Losing Loonie’s Cushion as Poloz Lifts Rates. Add costlier debt and thinner profit margins to the list of woes for Canada’s oil patch. The Bank of Canada’s decision to increase its benchmark interest rate by a quarter point to 0.75 percent will raise borrowing costs for oil producers already grappling with prices stuck near $45 a barrel. The rate hike also sent the Canadian dollar to a one-year high, threatening to hurt profitability for an industry that sells its products in U.S. dollars and pays its expenses in the local currency. “This couldn’t come at a worse time for Canadian oil producers,” said Martin Pelletier, a portfolio manager at TriVest Wealth Counsel in Calgary. “With oil at $45, raising the cost of debt is not favorable.” Read more here-https://bloom.bg/2ufUe3Z
-Working Past 70: Americans Can’t Seem to Retire. U.S. seniors are employed at the highest rates in 55 years. More and more Americans are spending their golden years on the job. Almost 19 percent of people 65 or older were working at least part-time in the second quarter of 2017, according to the U.S. jobs report released on Friday. The age group’s employment/population ratio hasn’t been higher in 55 years, before American retirees won better health care and Social Security benefits starting in the late 1960s. And the trend looks likely to continue. Millennials, prepare yourselves.
Better yet, consider this and this, so you have a choice in the matter when your time comes. Certainly, baby boomers are increasingly ignoring the traditional retirement age of 65. Last quarter, 32 percent of Americans 65 to 69 were employed. Even past age 70, a growing number of seniors are declining to, or unable to, retire. Last quarter, 19 percent of 70- to 74-year-olds were working, up from 11 percent in 1994. Older Americans are working more even as those under 65 are working less, a trend that the Bureau of Labor Statistics expects to continue. By 2024, 36 percent of 65- to 69-year-olds will be active participants in the labor market, the BLS says. That’s up from just 22 percent in 1994. Read more here-https://bloom.bg/2ubOYOZ
-Things are so bad in Venezuela that people are rationing toothpaste. Five years ago, when Hugo Chávez was president and Venezuela was a much different place, Ana Margarita Rangel could still afford to go to the movies and the beach, or to buy the ingredients she needed to bake cakes. Even three years ago, when the country’s economy was beginning a severe contraction, Rangel earned enough for an occasional treat such as soda or ice cream. Now she spends everything she earns to fend off hunger. Her shoes are tattered and torn, but she cannot afford new ones. A tube of toothpaste costs half a week’s wages. “I’ve always loved brushing my teeth before going to sleep. I mean, that’s the rule, right?” said Rangel. “Now I have to choose,” she said. “So I do it only in the mornings.” Read more here-http://wapo.st/2uPddAm
-Next WannaCry Cyber Attack Could Cost Insurers $2.5 Billion. Cyber crime insurers largely avoided costly claims from the recent attacks that hit businesses around the globe. The next global virus could change that. “It’s exceptionally likely that we will see an event over the next months that will seriously affect insurers,” Graeme Newman, chief innovation officer at CFC Underwriting, said in an interview. “It would only need a combination of WannaCry’s wide reach and Petya’s destructive force to cost cyber insurers something like $2.5 billion, or a full year of gross premium income in the market.” Read more here-https://bloom.bg/2t1RkAp
-California teen wins the lottery twice in one week totaling $655,555. A California teen is celebrating two big lottery wins in a week. The California Lottery says 19-year-old Rosa Dominguez won $555,555 on a $5 scratch-off ticket purchased at a gas station. After that win, she said she was nervous and “just wanted to cry.” A few days later, she bought another $5 scratch-off ticket at a different station and won $100,000. The Lottery didn’t say when the tickets were purchased. Read more here-http://read.bi/2u72Iuw
-Norway’s ‘Voluntary’ Tax Plan Brings In Just $1,325. Eager to pay more taxes? Then look no further than Norway. Hammered by the opposition for slashing taxes and going on a spending spree with the country’s oil money, the center-right government has hit back with a bold proposal: voluntary contributions. Launched in June, the initiative has received a lukewarm reception, with the equivalent of just $1,325 in extra revenue being collected so far, according to the Finance Ministry.
That’s not much for a country of 5.3 million people, many of whom are already accustomed to paying some of the highest taxes in the world (the top rate of income tax is 46.7 percent). “The tax scheme was set up to allow those who want to pay more taxes to do so in a simple and straightforward way,” Finance Minister Siv Jensen said in an emailed comment. “If anyone thinks the tax level is too low, they now have the chance to pay more.” Read more here-https://bloom.bg/2u6EJvG
-Christie’s Magnificent Jewels Sale, April 26 2017, New York, Rockefeller Center. Auction Results Here-http://bit.ly/2tJWXlO
-Lot 331-AN EXCEPTIONAL COLORED DIAMOND AND DIAMOND RING. Horizontally-set with a cut-cornered rectangular modified brilliant-cut fancy intense pink diamond, weighing approximately 3.02 carats, flanked on either side by a tapered baguette-cut diamond, ring size 6, mounted in platinum and 18k rose gold. Accompanied by report no. 2175700871 dated 9 January 2017 from the GIA Gemological Institute of America stating that the diamond is fancy intense pink, natural color, Internally Flawless clarity. Estimate USD 1,500,000-USD 2,000,000. Price realised USD 1,927,500. See more here-http://bit.ly/2ufYEb5
-Lot 285-A COLORED DIAMOND AND DIAMOND NECKLACE. Centering upon an old-cut openwork diamond plaque of foliate motif, a suspending three articulated lines of collet-set diamonds, terminating in two old European brilliant-cut fancy grayish blue diamonds, weighing approximately 1.11 and 0.97 carats, and an old European brilliant-cut fancy vivid yellow diamond, weighing approximately 3.59 carats, to the single-cut diamond leaf neckchain and fine link backchain, 16 1/8 ins., mounted in platinum. Accompanied by report no. 5182207201 dated 13 March 2017 from the GIA Gemological Institute of America stating that the diamond, weighing approximately 3.59 carats, fancy vivid yellow, natural color, SI1 clarity. With report nos. 2181207165 and 6187207170 dated 16 March 2017 from the GIA Gemological Institute of America stating that the diamonds, weighing approximately 1.11 and 0.97 carats, are fancy grayish blue, natural color, SI1 clarity. Estimate USD 80,000-USD 120,000. Price realised USD 631,500. See more here-http://bit.ly/2tKbDBo
-Lot 231-A COLORED DIAMOND AND DIAMOND RING, BY DAVID WEBB. Of bombé design, set with a square step-cut fancy intense yellow diamond, weighing approximately 23.56 carats, within a baguette-cut diamond and circular-cut yellow diamond surround, gallery and hoop, 1978, ring size 6, mounted in platinum and 18k gold. Signed Webb for David Webb. Accompanied by report no. 5181155864 dated 6 February 2017 from the GIA Gemological Institute of America stating that the diamond is fancy intense yellow, natural color, VVS1 clarity, accompanied by a working diagram indicating that the clarity of the diamond is potentially Internally Flawless. Estimate USD 300,000-USD 500,000. Price realised USD 607,500. See more here-http://bit.ly/2ufSM1F
-Lot 219-A COLORED DIAMOND AND DIAMOND RING. Set with a cut-cornered rectangular modified brilliant-cut fancy yellow diamond, weighing approximately 20.05 carats, flanked on either side by a tapered pentagon-shaped diamond, ring size 4, mounted in platinum and 18k gold. Accompanied by report no. 1182251821 dated 24 March 2017 from the GIA Gemological Institute of America stating that the diamond is fancy yellow, natural color, VS1 clarity. Estimate USD 250,000-USD 350,000. Price realised USD 367,500. See more here-http://bit.ly/2sREelh
-Lot 329-A COLORED AND DIAMOND RING. Set with a cut-cornered rectangular modified brilliant-cut fancy intense yellow diamond, weighing approximately 16.05 carats, flanked on either side by a tapered baguette-cut diamond, ring size 6, mounted in platinum and 18k gold. Accompanied by report no. 2181005741 dated 14 November 2016 from the GIA Gemological Institute of America stating that the diamond is fancy intense yellow, natural color, VS2 clarity. Estimate USD 250,000-USD 350,000. Price realised USD 343,500. See more here-http://bit.ly/2ugdmz3
-Lot 230-A COLORED DIAMOND TWIN-STONE RING. Of bypass design, set with two round brilliant-cut fancy vivid yellow diamonds, weighing approximately 3.00 and 2.72 carats, to the circular-cut yellow diamond under bezel, ring size 5, mounted in gold. With report nos. 2125669612 and 5131156650 dated 3 May 2016 from the GIA Gemological Institute of America stating that the diamonds are fancy vivid yellow, natural color, VS1 and Internally Flawless clarity, respectively. Estimate USD 200,000-USD 300,000. Price realised USD 247,500. See more here-http://bit.ly/2ukya9x
-Lot 35-A COLORED DIAMOND AND DIAMOND RING. Set with an oval modified brilliant-cut fancy intense yellow diamond, weighing approximately 10.98 carats, within a pavé-set circular-cut diamond and yellow diamond surround, to the circular-cut yellow diamond bifurcated half-hoop and gallery, ring size 7, mounted in platinum and 18k gold. Accompanied by report no. 11078581 dated 29 March 2000 from the GIA Gemological Institute of America stating that the diamond is fancy intense yellow, natural color, VS1 clarity. Estimate USD 130,000-USD 180,000. Price realised USD 241,500. See more here-http://bit.ly/2uSY5BS
-Lot 187-A COLORED DIAMOND RING. Set with a rectangular-cut fancy brown-yellow diamond, weighing approximately 20.48 carats, ring size 5 1/4, mounted in white gold. Accompanied by report no. 2175860291 dated 14 September 2016 from the GIA Gemological Institute of America stating that the diamond is fancy brown-yellow, natural color, VVS1 clarity. Estimate USD 80,000-USD 120,000. Price realised USD 223,500. See more here-http://bit.ly/2ukwvRe
-Lot 295-A COLORED DIAMOND AND DIAMOND RING. Set with a rectangular-cut fancy yellowish brown diamond, weighing approximately 18.10 carats, flanked on either side by a tapered baguette-cut diamond, ring size 6 1/2, mounted in platinum and 18k rose gold. Accompanied by report no. 2155934065 dated 3 March 2014 from the GIA Gemological Institute of America stating that the diamond is fancy yellowish brown, natural color, VS2 clarity. Estimate USD 150,000-USD 200,000. Price realised USD 187,500. See more here-http://bit.ly/2uT0Tit
-Lot 223-AN IMPRESSIVE COLORED DIAMOND AND DIAMOND RING. Set with an round modified brilliant-cut fancy vivid yellow diamond, weighing approximately 4.68 carats, flanked on either side by a tapered baguette-cut diamond, to the circular-cut diamond half-hoop, ring size 4, mounted in platinum and 18k gold. Accompanied by report no. 2185251774 dated 23 March 2017 from the GIA Gemological Institute of America stating that the diamond is fancy vivid yellow, natural color, VVS2 clarity, accompanied by a working diagram indicating that the clarity of the diamond is potentially Internally Flawless. Estimate USD 70,000-USD 100,000. Price realised USD 168,750. See more here-http://bit.ly/2tglTO1
-Lot 189-A COLORED DIAMOND RING. Set with a cushion modified brilliant-cut fancy brown-orange diamond, weighing approximately 6.19 carats, within a variously-cut and colored diamond bombé surround and half-hoop, ring size 6 1/4, mounted in 18k rose gold. Accompanied by report no. 2155560153 dated 1 August 2013 from the GIA Gemological Institute of America stating that the diamond is fancy brown-orange, natural color, VS2 clarity. Estimate USD 70,000-USD 100,000. Price realised USD 162,500. See more here-http://bit.ly/2ufW4SL
-Lot 71-A COLORED DIAMOND AND DIAMOND RING. Set with a cushion modified brilliant-cut fancy intense yellow diamond, weighing approximately 7.64 carats, within a circular-cut diamond surround, gallery and hoop, ring size 7 1/4, mounted in platinum and gold. Accompanied by report no. 8599736 dated 1 March 2017 from the GIA Gemological Institute of America stating that the diamond is fancy intense yellow, natural color, VS1 clarity. Estimate USD 75,000-USD 125,000. Price realised USD 112,500. See more here-http://bit.ly/2uk6Ojy
-Lot 188-A COLORED DIAMOND AND DIAMOND RING. Set with an oval modified brilliant-cut fancy brown-orange diamond, weighing approximately 5.16 carats, flanked on either side by a half moon-shaped diamond, ring size 6, mounted in platinum and 18k gold. Accompanied by report no. 5171373510 dated 13 November 2015 from the GIA Gemological Institute of America stating that the diamond is fancy brown-orange, natural color, VS2 clarity. Estimate USD 40,000-USD 60,000. Price realised USD 106,250. See more here-http://bit.ly/2ufIHlc
-Lot 231-A COLORED DIAMOND AND DIAMOND RING. Set with a round brilliant-cut fancy dark orange-brown diamond, weighing approximately 5.59 carats, to the yellow diamond pavé hoop, ring size 6 1/4, mounted in gold. Accompanied by report no. 6177425798 dated 22 December 2015 from the GIA Gemological Institute of America stating that the diamond is fancy dark orange-brown, natural color, SI1 clarity, with excellent polish and symmetry. Estimate USD 30,000-USD 50,000. Price realised USD 93,750. See more here-http://bit.ly/2tO9vqt
-Lot 220-A COLORED DIAMOND AND DIAMOND BRACELET. Designed as a line of graduated modified rectangular-cut yellow diamonds, bordered by circular-cut diamonds, 7 ins., mounted in platinum and 18k gold. Estimate USD 70,000-USD 100,000. Price realised USD 87,500. See more here-http://bit.ly/2tKjDSW
-Lot 221-A PAIR OF COLORED DIAMOND EAR STUDS. Each set with cut-cornered square modified brilliant-cut fancy yellow diamond, weighing approximately 5.27 carats each, mounted in 18k gold. Accompanied by report nos. 8683864 and 12364996 dated 23-24 May 2017 from the GIA Gemological Institute of America stating that the diamonds are fancy yellow, natural color, VS1 and VVS1 clarity, respectively. Estimate USD 80,000-USD 120,000. Price realised USD 93,750. See more here-http://bit.ly/2tOdL9s
-Lot 222-A COLORED DIAMOND AND DIAMOND PENDANT NECKLACE, BY HARRY WINSTON. Suspending a detachable pendant, set with a cut-cornered square modified brilliant-cut fancy yellow diamond, weighing approximately 8.09 carats, to the finelink platinum neckchain, collet-set with circular-cut diamonds, 16 1/2 ins., mounted in platinum and 18k gold. Signed H.W. for Harry Winston, nos. 83128 (pendant), 78057 (neckchain). Accompanied by report no. 11048894 dated 23 March 2017 from the GIA Gemological Institute of America stating that the diamond is fancy yellow, natural color, VVS1 clarity, accompanied by a working diagram indicating that the clarity of the diamond is potentially Internally Flawless. Estimate USD 70,000-USD 100,000. Price realised USD 87,500. See more here-http://bit.ly/2uSPort
-Lot 42-A COLORED DIAMOND AND DIAMOND RING. Set with a cut-cornered modified brilliant-cut fancy yellow diamond, weighing approximately 7.05 carats, flanked on either side by a triangular-cut diamond, ring size 5 1/2, mounted in platinum and 18k gold. Accompanied by report no. 1186078923 dated 19 December 2016 from the GIA Gemological Institute of America stating that the diamond is fancy yellow, natural color, VS1 clarity. Estimate USD 40,000-USD 60,000. Price realised USD 77,500. See more here-http://bit.ly/2ukHwC7
-Lot 161-A COLORED DIAMOND RING. Set with a lozenge step-cut light pink diamond, weighing approximately 1.66 carats, flanked on either side by a tapered baguette-cut fancy light gray-blue or fancy light blue diamond, weighing approximately 0.12 and 0.09 carats, ring size 6, mounted in platinum and 18k rose gold. Accompanied by report no. 6173080283 dated 13 April 2015 from the GIA Gemological Institute of America stating that the diamond is light pink, natural color, VVS2 clarity. With report nos. 5172227253 and 5171227254 dated 6 June 2016 from the GIA Gemological Institute of America stating that the diamonds weighing 0.12 and 0.09 carats, are fancy light gray-blue and fancy light blue, natural color, respectively. Estimate USD 30,000-USD 50,000. Price realised USD 62,500. See more here-http://bit.ly/2uSHIWf
-Lot 103-A COLORED DIAMOND AND DIAMOND RING. Set with a cut-cornered square modified brilliant-cut fancy yellow diamond, weighing approximately 5.62 carats, flanked on either side by a trapezoid-cut diamond, ring size 6, mounted in platinum and 18k gold. Accompanied by report no. 5141643613 dated 7 May 2012 from the GIA Gemological Institute of America stating that the diamond is fancy yellow, natural color, VS2 clarity. Estimate USD 45,000-USD 65,000. Price realised USD 60,000. See more here-http://bit.ly/2tg2wEM
-Lot 124-A COLORED DIAMOND AND DIAMOND RING. Set with an oval modified brilliant-cut fancy intense yellow diamond, weighing approximately 4.61 carats, flanked on either side by a half moon-shaped diamond, ring size 6, mounted in platinum and 18k gold. Accompanied by report no. 1172043378 dated 24 February 2015 from the GIA Gemological Institute of America stating that the diamond is fancy intense yellow, natural color, VVS1 clarity. Estimate USD 45,000-USD 65,000. Price realised USD 56,250. See more here-http://bit.ly/2tKm87u
-Lot 36-A COLORED DIAMOND AND DIAMOND BRACELET. Designed as a line of modified rectangular-cut diamonds and yellow diamonds, set in alternating groups of three, 7 ins., mounted in platinum and 18k gold. Estimate USD 20,000-USD 30,000. Price realised USD 40,000. See more here-http://bit.ly/2sRNrdh
-A COLORED DIAMOND AND DIAMOND RING, BY CARTIER. Set with a modified marquise brilliant-cut fancy dark orange-brown diamond, weighing approximately 5.63 carats, within a tapered baguette-cut diamond surround, to the trifurcated platinum hoop, ring size 5 ¼. Signed Cartier. Accompanied by report no. 5171364317 dated 30 October 2015 from the GIA Gemological Institute of America stating that the diamond is fancy dark orange-brown, natural color, VS1 clarity. Estimate USD 30,000-USD 40,000. Price realised USD 32,500. See more here-http://bit.ly/2tK9OEz
-Lot 258-A COLORED DIAMOND AND DIAMOND RING. Set with a cut-cornered rectangular modified brilliant-cut fancy yellow diamond, weighing approximately 3.03 carats, flanked on either side by a half-moon shaped diamond, to the circular-cut diamond surround, gallery and shoulders, ring size 5 3/4, mounted in 18k gold. Accompanied by report no. 17474507 dated 1 August 2008 from the GIA Gemological Institute of America stating that the diamond is fancy yellow, natural color, VVS1 clarity. Estimate USD 15,000-USD 20,000. Price realised USD 23,750. See more here-http://bit.ly/2ub4LxV
-Lot 111-A COLORED DIAMOND AND DIAMOND RING. Set with an old mine brilliant-cut fancy intense yellow diamond, weighing approximately 1.92 carats, to the circular-cut diamond shoulders and gallery, ring size 6, mounted in platinum and 18k gold. Accompanied by report no. 2125609931 dated 22 September 2010 from the GIA Gemological Institute of America stating that the diamond is fancy intense yellow, natural color, VVS2 clarity. Estimate USD 18,000-USD 22,000. Price realised USD 22,500. See more here-http://bit.ly/2tKG4HD
-Lot 98-A COLORED DIAMOND AND DIAMOND RING. Set with a pear brilliant-cut fancy deep brown-orange diamond, weighing approximately 6.55 carats, trimmed with circular-cut diamonds, within a tapered baguette-cut diamond surround, ring size 4 3/4, mounted in platinum, may be worn as a pendant. Accompanied by report no. 5181200646 dated 6 March 2017 from the GIA Gemological Institute of America stating that the diamond is fancy deep brown-orange, natural color, I1 clarity. Estimate USD 15,000-USD 20,000. Price realised USD 18,750. See more here-http://bit.ly/2ufTxb0
-Argyle Diamond Coins Sell Within a Month. Rio Tinto sold a set of diamond coins to an Asian buyer for $1.4 million (AUD 1.8 million) within a month of the collection’s unveiling, the miner announced Thursday. The anonymous collector snapped up the Australian Trilogy, which features three coins, each with a colored diamond one pink, one purple-pink and one violet from Rio Tinto’s Argyle mine in Western Australia.
The Perth Mint created the coins together with diamantaire John Glajz, an authorized partner of Argyle Pink Diamonds meaning he is permitted to sell stones from the iconic mine.
The collaboration has also seen the creation of several limited-edition gold-and-pink-diamond bars and coins during the past five years, which have been in demand among investors and collectors, Rio Tinto said. “We have seen, and continue to see, strong demand from this high end of the luxury market,” Glajz commented. “The coveted Australian Trilogy speaks the language of exclusivity, desirability and collectability.” The Argyle mine produces the vast majority of the world’s supply of rare pink diamonds, Rio Tinto said. However, it added, less than 0.1% of the diamonds the mine produces are pink. The company expects the asset to last until 2020. Read more here-http://bit.ly/2ukqYKe
-Gold Futures Jump After Yellen’s Remarks. The gold market rendered a quick dovish read on Federal Reserve Chair Janet Yellen’s prepared testimony to Congress. Yellen said Wednesday that “considerable uncertainty always attends the economic outlook,” citing “uncertainty about when and how much inflation will respond to tightening resource utilization.” Gold futures for August delivery rebounded from a loss, heading for the biggest gain in five weeks on the Comex in New York. Read more here-https://bloom.bg/2ujk2gG
-July 7 2017: Another Bullion Flash Crash Is Testing Traders. After-hours surges and plunges that have whipsawed gold and silver prices over the past two weeks are unnerving traders. Silver futures sank as much as 10 percent, as more than 25 million ounces of the precious metal traded within a minute just after 7 a.m. in Singapore Friday. Last week, gold fell below its 200-day moving average after 1.8 million ounces were transacted in a minute at 4 a.m. in New York. A day later, gold spiked after a similar trade involving more than 800,000 ounces. Such moves, which occurred at times when liquidity in these markets is generally lowest, are giving traders an additional headache at a time when investor sentiment is already turning bearish.
Hedge funds are retreating, while exchange-traded fund investors are pulling out of gold, pushing the precious metal to the lowest in almost four months. “All fundamental factors aside, it does tremendous technical damage to the market,” Bill O’Neill, a partner at Logic Advisors in Upper Saddle River, New Jersey, said by telephone. “There should be some effort to study this and come to some solution that will make for a more orderly trading pattern. This type of activity is not good for a fair playing field.” Gold has lost about $47 since the session before that 1.8 million ounce-trade that many blamed on a ‘fat-finger,’ or erroneous trade.
While O’Neill believes that trade may have been done in error, he said the precious metal struggled to bounce back from its low on June 26 because the transaction pushed the price below the 200-day moving average, triggering automated sell orders set by algorithmic traders, thereby sustaining the slump. In the case of Friday’s silver plunge, the unusual increase in volatility triggered the so-called “velocity logic,” a safeguard set in place by CME Group, pausing the market for 10 seconds, spokesman Chris Grams said in an email. “Our markets worked as designed,” Grams said. The pause allowed “liquidity to come back into the market. Per our rule book, prices were adjusted in the September and December silver futures contracts and several mini futures contracts.” Read more here-https://bloom.bg/2sRck8U and http://bit.ly/2tNYZ2y
-Gold Buyers Flee a Month After Their Most Bullish Bet of ’17. A month ago, money managers were the most optimistic on gold this year. Now, they can’t seem to unload bullion fast enough. Hedge funds’ net-long positions, or the difference between bets on a price increase and wagers on a decline, fell last week by more than half, the biggest reduction since 2015. Exchange-traded products backed by precious metals saw cash outflows over the past month, while most other commodity funds took in more investor money. Total assets in SPDR Gold Shares, the world’s top bullion ETF, fell to the lowest since March last week.
Even with signs of escalating geopolitical tensions often a spur for buying gold as a haven prices that reached an almost seven-month high in June have now dropped for five straight weeks, the longest slump this year. Investors are exiting in part because the Federal Reserve and other central banks are indicating more interest rate increases, which can curb the appeal of gold because the metal pays no interest. “I struggle to make a particularly bullish case on gold,” said Rob Haworth, a senior investment strategist at U.S. Bank Wealth Management, which oversees $145 billion in assets.
“We think the Fed is on track and continuing to increase rates, and I think that puts a lid on gold.” The net-long position in gold futures and options dropped 51 percent to 37,776 contracts for the week ended July 3, according to Commodity Futures Trading Commission data released four days later. It was the least bullish holding since January. As recently as June 6, the holdings were at 174,658, the most since November. Short positions, or bets on price declines, surged 31 percent to the highest since January 2016. Read more here-https://bloom.bg/2uj5IEH
-Gold Imports by India Said to More Than Double Ahead of New Tax. Gold imports by India, the world’s second-biggest user, more than doubled in June from a year earlier amid a rush by jewelers to build up inventories ahead of a tax change. Inbound shipments surged to 72 metric tons last month from 31.8 tons a year earlier, according to a person familiar with provisional data from the finance ministry, who asked not to be identified as the figures aren’t public. Finance Ministry spokesman D. S. Malik declined to comment on the numbers.
India’s government has embarked on the most radical tax overhaul in decades, ushering in a new nationwide goods and services tax to replace dozens of local levies. Speculation that the new tariff may be as much as 5 percent for bullion traded locally, including for manufacturers buying from importers, prompted a jump in imports to 126 tons in May. The gold rate was eventually set at 3 percent, and implemented from July 1. “Imports will slow down now as whatever stock-building had to happen, has happened,” Ranjeeth Rathod, managing director at importer MNC Enterprises (P) Ltd., said by phone from Chennai.
While imports have jumped, retail purchases have been weak and will remain low until the festival season starts from mid-August, he said. Indians buy gold during festivals and for marriages as part of the bridal trousseau or as gifts. The nation imports almost all the gold it uses. Local consumption is forecast to rise to 850 tons to 950 tons by 2020 from about 650 tons to 750 tons in 2017, according to an estimate from the World Gold Council. Read more here-https://bloom.bg/2uiTOL2
-Sprott CEO Grosskopf Is Still Bullish on Gold. Peter Grosskopf, Sprott Inc.’s chief executive officer, discusses the outlook for gold prices with Bloomberg’s Julia Chatterley and Julie Hyman on “Bloomberg Markets.” Watch more here-https://bloom.bg/2uRD6Q7
-Daryl Robert Schoon: The Bankers’ Endgame And The Rise Of Gold And Silver Prices. In May 2007, in Subprime America Infects Asia and Europe I predicted a severe financial crisis was imminent: the risks that have lain dormant beneath globalization’s foundation are about to erupt and a reordering of the world’s financial geography is about to ensue. It’s spring 2007 and the sun is shining in the US, backyard BBQs are being cleaned in anticipation of summer’s use. A severe financial crisis, however, is in the offing; a crisis as unexpected as the Golden State Warrior’s last minute steak to the NBA playoffs. Read more here-http://bit.ly/2tO0Kww
-Clive Maund: Gold Market Update. In the last update we had thought that gold might escape its usual seasonal malaise this year, but it didn’t and went into a rather sharp downtrend and dropped again quite sharply on Friday. The good news though is that this drop has not impacted the big picture at all, which remains strongly bullish, and a bonus is that this drop has flushed out a lot of remaining weak hands, as we will see when we come to the latest COT charts and set the sector for a reversal soon leading to a strong uptrend. On the latest 6-month gold chart we can see the downtrend in force from early June which on Friday took the price beneath the May low. Moving averages are in bearish alignment and gold is now oversold on its RSI and getting oversold on its MACD indicator. Read more here-http://bit.ly/2ukXn3F
-Frank Holmes: SWOT Analysis Is Gold Divorcing the Dollar and Marrying Inflation? Read more here-http://bit.ly/2ukV2Wi
-This Giant Metals Exchange Is Taking on the Gold Elite. The world’s biggest industrial metals exchange is taking on the most powerful players in the gold market with the launch on Monday of its first futures contract for the commodity since the middle of the 1980s. The London Metal Exchange and its partners aim to grab a piece of the action in a city where almost half the world’s gold changes hands. At stake are rival visions of how best to run the market, pitching the LME, Goldman Sachs Group Inc. and Morgan Stanley on one side and the London Bullion Market Association representing some of the biggest trading firms on the other.
Three years in the making, the gold contract, launched alongside another for silver, aims to draw investors from the off-exchange deals that currently dominate the city’s $5 trillion-a-year market. “The gestation period has been longer than that of an elephant, but the baby is finally here,” Jeffrey Rhodes, founder of Rhodes Precious Metals Consultancy DMCC with more than 30 years in the industry, said from Dubai. “They’ve been coveting this for years and having waited so long, I think they’ll make it work.” Read more here-https://bloom.bg/2u9Dvjk
-Timeline: How London’s Gold Market, the World’s Largest, Evolved. After a three-decade hiatus, gold-futures trading is returning to London. It’s the latest change for the city’s bullion market, the world’s biggest for over-the-counter trading, and which until fairly recently had remained largely unchanged for about a century. Here’s a timeline of main events over the past 350 years, according to the London Bullion Market Association. Read more here-https://bloom.bg/2tNiuZ0
Gold to silver ratio at 80 to 1 with gold at $2,000 the silver price would be $25.00
Gold to silver ratio at 70 to 1 with gold at $2,000 the silver price would be $28.57
Gold to silver ratio at 60 to 1 with gold at $2,000 the silver price would be $33.33
Gold to silver ratio at 50 to 1 with gold at $2,000 the silver price would be $40.00
Gold to silver ratio at 40 to 1 with gold at $2,000 the silver price would be $50.00
Gold to silver ratio at 30 to 1 with gold at $2,000 the silver price would be $66.67
Gold to silver ratio at 20 to 1 with gold at $2,000 the silver price would be $100.00
Gold to silver ratio at 15 to 1 with gold at $2,000 the silver price would be $133.33
-“James McDonald doesn’t appear to have made a difference to date and it is highly possible (some would say probable) that he won’t take the actions required to make a difference. He has let the commercials continue to snooker the technical funds into selling excessively, thus allowing much pain and suffering to accrue to real silver producers and investors. But that will pale in comparison to the harm he will preside over in the event JP Morgan and a few other commercial crooks are allowed to add to silver short positions on the next rally.
The one entity which certainly does know what is going on is JP Morgan and that can be seen in its actions, not words. It is buying back its paper silver short positions with an aggression rarely witnessed, after taking more than six years to accumulate the largest privately-owned physical stockpile of silver in history. JPM knows silver will soar as and when it doesn’t add to short positions and it may not take McDonald to lay down the law; JPMorgan may do so on its own for its own best interest.
The message here is to be like JP Morgan. No, I’m not suggesting you to be as underhanded and corrupt as JP Morgan; I’m just suggesting you to buy as much silver as you can get your hands on – the same as JPM has done. As complicated as the specifics of the silver manipulation may be, the underlying message is as clear as a bell buy silver, just like JP Morgan.” Silver analyst Ted Butler July 8 2017 via Ed Steer edsteergoldandsilver.com subscribe here-http://bit.ly/1fdAByN
-“Whatever Friday’s report indicates, considering the improvement in market structure over the past few weeks and particularly since the silver top of $18.50 on April 18, we have to be close to the maximum extreme of bullish market structures in silver and maybe for gold as well. Not only do the running results from the COT report show that, the price action seems as deliberate and intentional as is possible. We’ve certainly seen larger price drops in silver than the $2.50 drop seen since the April 18 high, but I don’t recall larger positioning changes.
The 17 day consecutive silver price decline into early May was the prime catalyst for my price explosion premise and the new price decline since June 6 looks every much as effective in inducing technical fund selling. Between the two back to back declines, it’s hard to see how every technical fund contract that could be sold hasn’t already been sold, or nearly so.” Silver analyst Ted Butler July 5 2017 via Ed Steer edsteergoldandsilver.com subscribe here-http://bit.ly/1fdAByN
-If there has been an unusual feature to the reporting week (and carrying through on Wednesday), away from the deliberate price weakness, it has been the extraordinarily large COMEX trading volume. Without looking it up, I think the total COMEX gold and silver trading volume since the Saturday review may have been the highest on record or nearly so, particularly since there has been relatively little spread volume. Typically, trading volume is low for past holiday-interrupted periods. I don’t know what’s driving the surge in trading volume, but on any measure, it is unusually large.
And maybe I’m imagining things, but this three week sell-off, just like the three week sell-off into early May, looks intensely focused on silver. There is a deliberateness about this silver price decline that seems palpable something very much along the lines of one last kick down the price stairs to set up for the moonshot. What made the technical funds so willing to sell out longs and go short in silver at this time is beyond my reasoning, but the numbers don’t appear to be lying. Silver analyst Ted Butler July 5 2017 via Ed Steer edsteergoldandsilver.com subscribe here-http://bit.ly/1fdAByN
-KWN: All-Time Record Silver Short Covering Spree Continues. Commercials Also Covering Gold Shorts. Read more here-http://bit.ly/2t67ZTL
-James Turk Just Accused The Government Of Orchestrating Friday’s Flash Crash In Silver. “It should be obvious to any thinking individual that Friday’s flash crash in silver was blatant manipulation. However, the mainstream media is doing a good job of muddling up the picture to confuse people. That outcome is exactly what the manipulators want. This confusion helps cover up their tracks so that they can continue their manipulation by wreaking more havoc on the precious metal market in the future. Read more here-http://bit.ly/2sS1aAS
-Ronan Manly: CME stays silent on cause of Comex silver price glitch. Read more here-http://bit.ly/2ugv8lz
-Lynn Fisher: Flash crash in silver was meant to scare investors. Lynn Fisher of Fisher Precious Metals in Deerfield Beach, Florida, writes today that last week’s flash crash in silver was clearly manipulation arising from the desperation of governments to discourage investment in the monetary metals. Fisher adds that “the bullion banks would not be cycling out of massive numbers of short positions if they thought the price was going to go down significantly.” Read more here-http://bit.ly/2tOxVQX
-Mike Gleason and Chris Powell: Is Manipulation Partly to Blame for Silver’s Plunges? Read more here-http://bit.ly/2tOVQQ6
-Clive Maund: Silver Market Update. June is silver’s worst month of the year by far, on a seasonal basis, and its price dropped significantly this June. However, we are now well into July, and July is seasonally silver’s 2nd best month of the year, and as the month got off to a bad start, it is reasonable to expect things to look up, especially as silver put in what looks like a high volume Reversal Day on Friday, when it broke down below support but then got back above it later in the day. We can see silver’s dive into what looks like a capitulative high volume Reversal Day on Friday to advantage on its 6-month chart, and the chance of its having hit bottom is increased by the fact that there was a full moon at the weekend. Read more here-http://bit.ly/2ukL5rH
-Lawrie Williams: So what’s happening to gold and silver? What a difference a week or two makes in gold sentiment and in silver which has fared even worse with the gold:silver ratio running close to 80 again at one point a level which usually is at the top end of the comparison and would seem to signify a great buying opportunity for silver bulls – but is it? Gold sank to $1204 before making a small recovery, and silver to $15.07 before making a slightly larger one (in percentage terms at least.) Prices do seem to be clawing their way back upwards at the time of writing, but is this just a blip in a continuing downtrend? As I write, gold is at $1214 and silver at $15.60. Read more here-http://bit.ly/2vdFShM
-Lawrie Williams: Palladium closing gap on platinum but neither great long term. The unthinkable is happening. Palladium is closing the price gap with platinum fast. Indeed the way things are going the palladium price could surpass that of platinum within the next few days or weeks. Today, according to the latest data from Kitco com, palladium is trading at about $836 and is trending upwards while platinum is at $895 and trending downwards. A year ago, palladium (which is by far the best performing precious metal year to date) was at around $610 while platinum was at $1100 and moving higher at the time. Thus a $490 price difference has fallen to a mere $59 in a year and platinum seems to be in a continuing decline. Historically platinum has mostly traded higher than gold but since it slipped below the yellow metal the gold-platinum ratio is now a large 1.35, while palladium’s fortunes have soared due to a perceived severe supply deficit. Read more here-http://bit.ly/2sQSwma