The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
In my view the Central Banks have coordinated (as reported in the press re interest rates) to lease Gold into the market to flood the supply and drop the price. They did that on the last drop from 1600 to 1200. They got found out when the Swiss published their import figures from UK. They are not distressed so much, but carrying out agreed sales. They want make gold volatile to break the safe haven concept I believe. Its what the BIS refer to when they say they"manage the Gold price"
Play007....The world central banks are working together as stated in several articles regarding interest rates so I suspect they are working the paper future contracts in the US and flooding the market with Gold via BOE and BIS plus some selling to cover losses on stocks. I cannot prove it but its what happened last time when it came down from 1600 to about 1200. We may find out in 6 or 12 months one way or the other.
https://www.zerohedge.com/commodities/gold-suddenly-hammered-multi-billion-dollar-sale
The increase in POG may have a spike due to virus, but the underlying problem is low interest to negative interest rates with high debt and money printing globally. Gold is going up and only history will end up, telling us how fast. IMHO
https://www.zerohedge.com/commodities/multi-billion-dollar-mystery-great-british-gold-sale
These vids have come out every 6 months for ten years gone. I say that as a person who has 40k in physical PM's. If you lived on Cyprus with its banking record you would to. But it is highly unlikely that C/banks have all they say as Gold loans, leases and swaps are all counted as in bank and not out and this is allowed under IMF rules. So I doubt they have enough to do what they want.
Speculation... SA, ....Yemen, Aramco fiasco, Prince hotel shakedown, and low oil price all indicate SA is short of cash. Do you feel SA could be fast tracked to mine. Maiden Jorc in 2-3 years mine in 3- 4 years, assuming we can deliver TK on time and to budget. Don't forget the authorities have no public objections to deal with as a one Party/Family state. Or am I too keen.