gold news

 [music] And you know it's it's interesting the counterintuitive nature of it because excuse [clears throat and cough] me most people would expect in this environment for gold to have taken off immediately and and my [clears throat] dear departed friend Jim Sinclair used to say to me Andy it's called mope management of perception economics. that they want to manage the perception. Um they don't want to let gold go to the moon. Uh that would signal the wrong thing and would exacerbate their

problems financially. whether or not people want to acknowledge the fact that that these markets are managed by inside interests. Um, I'll tell you that every single time I've seen war, and I've been doing this all the way back to the Gulf War, uh, the very first one, um, I in the '9s, every single time this happens, the price gets knocked down into the war. And, you know, the the the conventional wisdom is throwing out the baby with the bathwater because it's very liquid. I

think it's more along the lines of managing the perception of what is exactly happening. Um but what we are seeing happening of course is a major shock on oil and as oil gets more expensive you have to understand that the dollar still is the world reserve currency. Meaning every nation on earth needs to accumulate dollars in order to buy oil. And in accumulating dollars, the place to put those dollars rather than leaving them in some account would be to recycle them into US treasuries which are immediately liquid. And you

have to ask yourself, what happens when these nations realize that not only has the dollar gotten stronger for some reason, but so too uh has the price of oil been going up? These are both moving up in tandem which is certainly um uh a strain on the bond market and we are seeing you know and and Luke Goman talks a lot about this and she mentioned Luke you're seeing interest rates on the tenure start to move in the wrong direction. you're starting to see, I believe, a a crack in confidence in in

the entire system, but you're also beginning to see a a form of forced liquidation of US treasuries simply to get enough money to buy oil uh as both are moving up in in tandem and and to secure oil is something that will never go away in terms of concern by these nations. So um ultimately I think we are witnessing a a situation where this entire system is is being looked at crosseyed and ultimately I think you see precious metals moving up much much higher but we'll have to see how how long the straight is closed. We'll have

to see how this all ultimately plays out. But it goes also very much into what you were saying about your guest who's going to come and talk about China. I couldn't agree with what he's saying anymore. I mean, you you have a a series of vaults that are being built by the Chinese all around the belt road. The first one was just completed in Shanghai. I mean, excuse me, in in um Hong Kong, which is very important because when gold flows out of China, it has to go out of Hong Kong. The next one

is is being built now in Saudi Arabia with the intention of building them all around the world. They are building a gold dominated infrastructure. Ultimately, gold will move regardless of what we see here. And in my mind, uh this is a temporary strengthening of the US dollar because of oil going higher, because of the dollar being where it is and the fact that these folks will have no choice, I think, around the globe but to sell treasuries to buy oil. This is a game that you can see is getting close to the end and will

put strain on everything uh in the in the in the marketplace but ultimately will be ultimately I think will be um wind at the back for the gold market. Maybe not today, maybe not tomorrow in terms of the immediacy of rising rates and and what's happening. But I think ultimately gold will be one of the biggest beneficiaries of a system that is looking at at the dollar and the treasury as something that it really never was and that is something that isn't really trusted globally anymore. >> Are you curious about investing in gold

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Kindle. Andy Sheckchman argues that gold's relatively muted reaction during geopolitical tensions is not due to weak demand, but rather what he describes as price management within the paper market. He interprets large outflows from the spider gold shares, GLD, around $4.2 billion, not as selling pressure, but as institutional investors redeeming shares to take physical gold delivery. He also points to silver market signals, highlighting a reported $12 premium in Shanghai as evidence of strong demand

pulling metal from Western markets toward Asia. On COMX, he notes roughly 81 million ounces of registered silver against significantly larger open interest, suggesting a tight supply backdrop if delivery demand rises. Looking at recent activity, he emphasizes that February saw about 23 million ounces delivered while approximately 38 million ounces were withdrawn from vaults, leaving a gap of around 15 million ounces beyond standard delivery flows. In his view, these patterns reflect continued physical

accumulation and growing structural pressure within the precious metals market. >> You're right. And but the same thing could be said about the LBMA and the ComX. You know, say what you want about the the situation that was Venezuela. Um that has since obviously changed, but they said, "Can we have our gold back?" And and the Bank of England said, "No, you can't." Um and you know, the Bank of England was recognizing a leader that wasn't duly elected. Uh he and and you

know, that was a conflict. So no, you can't get it. And it was up to the Bank of England to make that decision. Doesn't matter what some of the countries recognized as who was running the country or not. The fact of the matter is having it in multi-jurisdictions like this uh is is certainly a step in the right direction. And and when you talk about convertible, they've made the digital yuan convertible into gold for central banks. If you look at the unit settlement currency, it is 40%

goldbacked. It is operational right now, but they're all trading over things like SIPs, the cross interbank payment system, and Mbridge, both of which are not compatible with Swift. All of this points to countries building their own infrastructure, strengthening their own monetary future, trading with one another their local CBDC currencies. But to your point, being able to convert into gold immediately uh right now in Hong Kong and take possession and this would be for for central banks. But I

see things moving in that direction very much so. And um I think that ultimately is much more so than the immediacy of the war which has its own implications. The world is moving into a settlement system that will be dominated by local currencies trading over automated uh platforms uh like central bank digital currency platforms that that are not compatible with swift. Hit subscribe and stay one step ahead.