“Switzerland in February sent gold to mainland China for the first time since September and shipments to India and Thailand rose to multi-year highs…Swiss customs data showed that in February Switzerland exported 56.5 tonnes of gold to India, 11.2 tonnes to Thailand, 2 tonnes to mainland China and 1 tonne to Hong Kong. That is biggest total to India for any month since April 2019, to Thailand since August 2018 and to Hong Kong since September. It is the first shipment of any gold at all to China since September.” – Reuters, “Asian gold demand rebounding as Swiss exports to India surge”
Physical metal shortages at the retail level on top of manic physical gold buying from Asia as well as intermittent backwardation in the paper gold and silver markets of London and New York underlie one of the most aggressive precious metals price suppression efforts by the western Central Banks that I have experienced in the last 20 years. The purpose is to keep the price of gold suppressed while the Fed and the Treasury – also known as the Powell-Yellen Clown Show – grease the wheels for another massive shot of money printing.
The U.S. monetary system has morphed into near full-blown Modern Monetary Theory. Congress has indefinitely removed the debt limit ceiling and the Fed has indicated a willingness to monetize as much of that debt as needed to keep bond yields in check. This is highly supportive of an eventual huge move much higher in the precious metals sector.
Wall Street Silver invited me on their engaging and entertaining podcast to discuss several topics related to precious metals and the current blatant price manipulation:
The next big move in financial assets will come from the mining stocks. Mining stocks offer potential wealth enhancement through exposure to the “optionality” upside of price gold and silver prices. If you would like some ideas for investing in mining stocks, take a look at my Mining Stock Journal.