gold news

 [music] Bank of America making one of the boldest silver calls I've ever seen. And and and this is from Michael Whidmer. He is their head of metals research. And he says silver could reach anywhere between 135 and 309 by the end of this year. and he talks about it relating to the gold [music] to silver ratio etc. whatever it means, whatever story he is using, uh to me it's most importantly a stress in the system. Morgan Stanley's chief investment officer said the 6040 bond stock bond

split that they've used for 50 years, Wall Street has is broken. Sell half your bonds and buy gold. So that would be 60 2020. 60 stock, 20 bonds, 20 gold. Uh Michael Hartnett who is Bank of America's chief analyst before I tell you what their metals guy said he came out right after that a month ago or so and said no 25% should be in gold. You should have 25 stock, 25 bond, 25 short-term treasury, 25 gold and silver, which is a massive departure from anything any >> Yeah, exactly. >> Wall Street person said, but now you

have Bank of America making one of the boldest silver calls I've ever seen. And and and this is from Michael Whitmer. He is their head of metals research. And he says silver could reach anywhere between 135 and 309 by the end of this year. and he talks about it relating to the gold to silver ratio etc. Whatever it means, whatever story he is using, uh to me it's most importantly a stress in the system story story because what he had talked about was that it it one of the things that would lead um Silver to do this uh would

be things that we are are seeing right now, which is is kind of crazy. Um he he's talking about um silver rises because not just because gold rises, but that silver rises because of perhaps a an environment where there are more uh delivery requests than there are than there is silver available. Well, that's what we saw this entire month. Just to give you an example, the month of February, which you know, they worked down the open interest for the March contrast in a very disorderly way because I don't care

what anyone says. You know, I read something on be before I finish my thought there. I read something on on X where this was just a normal draw down and open interest orderly the way they always do it. My asset was right there a week be 4 days before [snorts] the March contract went off the board before I finished February. Um there was 300 million ounces in open contracts that late in the delivery cycle is crazy. with only 88 million ounces of silver backing it. Uh almost 4:1 3 1/2 to one disparity, more contracts than

bars available that late in the in the system. Well, they worked it down by raising margins and cash selling, whatever the hell they did, they found a way to do it. Andy Shechman points to increasingly extreme conditions in the silver market. He references projections from Bank of America, suggesting that in a severe delivery squeeze scenario, silver prices could potentially reach between $135 and $39 if physical demand begins overwhelming the paper market. He highlights recent delivery activity as a

warning sign. In February, about 23 million ounces of silver were reportedly delivered, while roughly 38 million ounces were withdrawn from exchange vaults. That leaves a discrepancy of around 15 million ounces, leaving the system beyond standard delivery flows, which he interprets as a sign of growing physical accumulation. Looking ahead to the March contract cycle on COMX, Shechman notes that paper claims have reportedly expanded to nearly 300 million ounces, while registered metal stands near 88 million ounces. In his

view, such a large paper-to- physical ratio could create stress if even a modest percentage of contract holders demand delivery. He also points to market positioning by large players. According to his analysis, JP Morgan Chase covered roughly 800 silver contracts near recent lows, while the EyesShares Silver Trust SLV reportedly added around 38 million ounces during the same period. To Shechman, these developments suggest that institutional players may be quietly increasing exposure while broader structural

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proof that smart investing changes lives. This ebook is available in Amazon. >> Um, but this is continually happening where there's all these deliveries and leading up to the very end of the delivery cycle something has to happen. And so what did they do? For the fourth time in 2 months, there was a glitch ironically, right? The first glitch happened the day after Thanksgiving, right? The day after Thanksgiving when silver and gold were taking off and just about to explode the night of

Thanksgiving at 11:00 at night, supposedly all this action going on. Most of us were trying to keep awake to watch the end of the football game because of all the turkey we ate. um the the market or the servers that run the metals um portion of the CME group happened to overheat. So it was shut down just those right there's a thousand commodities traded on comics but just those overheated from 11 to 11 the next day it was shut down when it opened it collapsed went up silver went up 120% over the next 60 days well that was

number one number two and three was couple weeks ago when silver got creamed right fell by 30 plus% or whatever the number was just got absolutely creamed markets don't work that way but what happened oh two glitches in a row two days in a row where the The circuit breakers didn't work when the price was falling. Should have stopped the market. Sorry, it was a glitch. >> It didn't work. >> And it just happened again last week, right? As silver was taking off. A glitch. And the thing they they

suspended trading in precious metals and natural gas. I think they threw in natural gas just because to make it less obvious. What happened? They smacked the price down again. So, it's not working. It's losing confidence. But let's look at February for one moment because so at the end of February, anything that's left open in February has to be delivered. Also at the end of February, the March contract goes into delivery and that's what they did for March. But in February, there was somewhere in the

neighborhood of roughly Well, let me see if I can give you the exact number. Well, it won't be exact, but these numbers will be very close to what it was cuz I didn't see the exact closing numbers, but so here's what's crazy. Um, for February, there was roughly 30 million ounces delivered uh into COMX, right? 30 million ounces. Actually, it was 23,195 a few days before the end of the delivery. I didn't see the last day. So for the February contract, they had 4,639 contracts that stood for delivery.

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