We’ve seen unusual trading with the London P.M. Fix and mining shares diverging from metals again.  Add new contract issuance on the Comex and it’s clear the guardians of the fiat paper paradigm are hard at work to contain the flight to safety reaction of gold bulls.  Doc and I take a look at this week’s trading as global tensions rise…

SD METALS & MARKETS

DOC’S GOLD & SILVER MARKET UPDATE:

With the world seemingly on the brink of WW3, the US Mint reported sales of only 125,000 Silver Eagles this week, bringing April sales to 380,000 coins, and year to date sales to 8,337,500.

US Gold demand remains subdued as well, with the Mint reporting only 3,500 oz of Gold Eagle coins sold in April to Date.  (Contrasted with 117,500 oz of Gold Eagle coins sold in January of this year)

We suspect that US retail demand will remain soft until silver breaks above $22 and gold takes out last summer’s post-Brexit highs.

gold

silver

gdx

 

# # # #

Mr. Dubin is the Managing Editor of TheNewsDoctors.com. He has 25 years of experience as an independent buyside securities and global macro analyst. He has well over a decade of experience as a financial journalist, editor and political analyst. He’s primarily an autodidact, but his formal education includes degrees in economics, international relations and MBA. He welcomes feedback on his articles and will make an effort to respond to comments. Email Eric by sending to “Eric” and then @TheNewsDoctors.com. He can also be “followed” on Facebook: https://www.facebook.com/EricDubin

# # # #