Plenty of Physical #Gold…it’s just sitting in 'wrong location' and in 'wrong form' — @Scotiabank

There is no shortage of gold out there, but there are some serious "physical bottlenecks" for certain gold products that are just sitting in wrong locations, Scotiabank said in its latest update. 

"If there were a major shortage of physical gold, spot gold prices would be trading at a premium to futures prices, which is not the case," Scotiabank commodity strategist Nicky Shiels said on Friday.  

See the whole story on Kitco here: https://www.kitco.com/news/2020-03-30/Plenty-of-gold-sitting-in-wrong-location-and-in-wrong-form-Scotiabank.html

bit.ly/MasterMetals

#Gold Faces Historic Squeeze With #CoronaVirus Threatening NY #Comex Shortage

The virus has upended the global supply chain for precious metals. Metals refiners in Europe are being forced shut. Ordinarily, banks and traders would ship supplies from other locations to New York in response to such a large Comex premium over the spot London market. But because of the outbreak, some have been reluctant to take advantage of the arbitrage out of fear that flights and truck deliveries will be canceled and trap their supplies ...

Gold Faces Historic Squeeze With Virus Threatening N.Y. Shortage

 
https://www.bloomberg.com/news/articles/2020-03-24/scramble-for-gold-sends-new-york-premium-to-a-four-decade-high

#Gold has given back most of 2020's gains, still much better than the $SPX...

#Gold had a rough day along with the rest of the market.

That's still better than the S&P which HAS LOST TWO AND A HALF YEARS' WORTH OF GAINS IN LESS THAN ONE MONTH!!

Incredible the Volume on #Bitcoin as it crashed through $6000!! $BTCUSD

Wow 😯!  the surge in Volume as #Bitcoin crashed through $6000. It's now recovered some of its loss to ~$6200!!

@MasterCharts‬⁩ #Crypto

https://mastercharts.blogspot.com/p/blog-page_16.html

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bit.ly/MasterMetals

Osisko #Gold Royalties $OR.to will it ever recover?

Osisko Gold Royalties posted record GEO production this quarter. However, the company indicated a substantial non-cash impairment that was surprising. The stock has suffered a massive selloff with the acquisition of the Bakerville Gold mine starting in September 2019.

Then, the weak diamond market at Renard and the sale of the Brucejack offtake were the main issues that pushed the company to revise down the 2019 guidance.

The combination of those factors triggered a "correction." Despite the gold price increase, now reaching a multi-year high, the stock was not able to regain strength and has languished since then in the $8s range.

...

OR experienced a support breakout of its ascending channel pattern at the end of February and dropped to nearly $8.00, which is now line support. The new trend that I see is a descending channel pattern with line support at $8.00 and line resistance at $9.60.

My recommendation is to buy at or below $8.00 and take profit at or above $9.60.

See the whole post on Seeking Alpha: https://seekingalpha.com/article/4330549-osisko-gold-royalties-too-early-to-call
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MasterMetals
@MasterMetals

There Are 316 Men Leading #Commodities Houses and Only 14 Women - Bloomberg

"Historically, fewer women have studied subjects like engineering that funnel people toward the oil industry."

"We haven't reached a critical mass of women in the industry, we're not there yet," said Claire Tomlin, who is now a managing director at commodities headhunting firm Clarion Search. "Once we get there, working practices will change.

See the whole report here : https://www.bloomberg.com/news/articles/2018-03-19/there-are-316-men-leading-top-commodity-houses-and-only-14-women 

After the Fed's 0.50% rate cut, #Gold remains strong.

bit.ly/MasterMetalsCharts


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MasterMetals
@MasterMetals

#Gold's Slump Unlikely to Signal End of Rally

We've been here before.  In 2008 Gold dropped before marching higher to record $1920/oz three years later.

Gold fell a fifth in 2008, on its way to a record high.

Gold's Swoon Echoes Financial Crisis Blip

The conditions are still there for an extended rally.

Clara Ferreira MarquesMarch 2, 2020, 8:21 AM GMT+1

In times of coronavirus panic, even havens can be unreliable.

Gold closed off February on a tarnished note, ending last week with its steepest daily decline since 2013. As financial markets panicked over the spread of the pneumonia-like illness, stocks tumbled and dragged gold and other precious metals lower. That's a rare phenomenon for a metal that tends to shine brighter when everything else looks gloomy. It will also be a brief one.

Back in 2008, spot gold fell by more than a quarter between July and late October, before embarking on an unprecedented run toward $1,900 an ounce, once global rate cuts began in earnest.

#Gold recovering from Friday’s sell-off this AM. #MasterMetals #Charts $GLD

#Gold trading Back above $1600/oz.

bit.ly/MasterMetalsCharts … $GLD
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MasterMetals
@MasterMetals