|Traders Alert – News And Movers Today|
Gold mine output dropped slightly, but a surge in recycling drove a modest gain in supply.
Waiting for the big breakout in gold is foolish. By then its too late .
Lowest Cost Producer – Ukraine’s Black Iron Exploration – BKI TSX
Gold for the long run is like a good tech stock . Take a small position and add to it over time . Since 1990 the price of gold has doubled twice, advancing from $400 / oz to $1500 / oz. after correcting from its $1895/oz high in 2011.
The price of gold hit an all-time record high of $1,895 on Sept. 5, 2011 when it was rumored that the US couldn’t pay off its debt . A similar world scenario is presently in place. and the chips are just waiting to fall . A great worldwide restructuring may unravel world economies driving interest rates up in a race to capture the worlds money.
Fat Brands – FAT NASDAQ – 8.25% Offering Details
Gold demand was up 3% in the third quarter, coming in at 1,107. 9 tons, according to the Gold Demand Trends Q3 2019 report put out by the World Gold Council.Record inflows of gold into ETFs overcame weakness in the jewelry, and gold bar and coin markets to push overall demand higher.
Why Gold Should Rally
Gold mine output dropped slightly, but a surge in recycling drove a modest gain in supply.Gold-backed ETFs took in 258 tons of gold in Q3. ETF gold holdings reached all-time highs in September, hitting 2,808 tons. That eclipsed the previous record set back in 2012 when the price of gold was near $1,700 per ounce. According to the WGC, “Accommodative monetary policies, along with safe-haven and momentum buying, drove demand.”
Top Gold Stocks This Year
Central bank gold buying remained healthy, adding 156.2 tons in Q3. But that represented a year-on-year decrease when compared to the record-shattering third quarter of 2018. Still, central bank gold purchases remain 12% ahead of 2018’s record numbers.
Gold Weakness Temporary – Buying Opportunity
The big drop in demand compared to last year was in the jewelry and gold bullion markets.Gold jewelry sales were down 16% compared to Q3 2018. The exception was in North America, where gold jewelry sales rose for the 11th consecutive quarter. Price pressure was exacerbated by concerns over the health of the global economy. This led many consumers to moderate their buying plans, particularly in Asia and the Middle East.
Ichan Huge Gain On XRX – HP Tech Mega Merger
Meanwhile, bar and coin sales fell by half, coming in at 150.3 tons on the quarter. That was the lowest level since 2010. There was one country where retail investment grew – Turkey.High prices impacted the jewelry, along with the bar and coin markets. The gold price rose by 5% during Q3, finding sustained support at around $1,500 per ounce. In many countries, the price of gold hit all-time highs during the third quarter, including in India, which accounts for a significant portion of global jewelry sales. In the bullion markets, retail investors took the opportunity to lock in profits and defer purchases, according to the WGC.
Technology demand for gold fell 4%. The WGC said continued concerns about a global economic slowdown stifled demand. But the nascent 5G infrastructure helped to slow the decline in the important electronics sector.On the supply side, mine output was fractionally lower in Q3 at 877.8 tons. That’s bout a 1% decline year-on-year. On a year-to-date basis, mine production is at 2,583.4 tons, virtually unchanged from the same period in 2018.Higher prices have encouraged gold recycling. Recycled gold supply grew 10% in Q3, to 353.7 tons. This led to a 4% overall increase in supply in Q3. Article – Schiff Gold
Neither PSN nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.