I am a Independant Consultant to multiple Metals Dealers. I can be reached at petertrader@att.net or 312-605-2571. I also offer credit card processing.
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Peter Thomas retweeted
China's central bank bought 44 tons of gold in July
Why is gold holding 4,000? @goldbug11, Chairman of @ausecure, answers the question in his Friday precious metals wrap-up.
China's central bank, the PBOC, bought 44 tons of gold in July, against 17 tons a year earlier. Goldman Sachs' research department had estimated 33 to 35 tons. It came in well above that.
And it is not only China. Central banks on accumulation programs are buying every month and holding gold as a tier one asset, which takes it off the market.
#gold #centralbanks #QuasarMarkets
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Peter Thomas retweeted
Gold is now a tier one asset | @goldbug111
Gold used to trade against inflation. Peter Thomas, Chairman of AUsecure, explains why that relationship broke and what central banks did to break it.
For decades gold and inflation were coupled: inflation up, gold down. Thomas says the two have decoupled, and points at the reserve managers.
Central banks, he says, stopped treating gold as a tier three asset and started treating it as tier one, a hard asset they want to own and hold. He also notes the CME set a record silver volume last week.
#gold #silver #centralbanks
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Quick take on the Xi health rumors:President Xi left the BRICS summit in India along with South African . No official confirmation of a stroke or anything serious. Could easily be food, bacteria.The stroke talk is way overblown. Gold Markets should stay calm.
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Diesel fuel prices hit 11 dollars per gallon in Germany.
Gold has been trading higher in Hong Kong .Monetary ,Geopolitical risk, energy-price inflation concerns, and safe-haven flows have provided offsetting support, producing the usual volatility tonight.
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Peter Thomas retweeted
He puts a currency chart on screen and reframes what you are looking at.
Not a price. A country's productivity measured against its own money.
Then he asks the only question that matters.
Peter Thomas @goldbug111, Chairman of AUsecure @ausecure , on Quasar Markets Live.
$GLD $UUP
#gold #preciousmetals #dollar #macro #markets
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Peter Thomas retweeted
Peter Thomas @goldbug111 , chairman of AUsecure @ausecure , on with the numbers behind the gold move.
China bought 4.9 tons in March, 8 in April, 9.9 in May and 14.9 in June.
His read is that this is consumption, not speculation, and the refiners he deals with are running double shifts with more product arriving than they can handle.
#gold #silver #commodities #centralbanks #QuasarMarkets
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Peter Thomas retweeted
"China is what?"
@goldbug111 Mr Goldbug himself: China is working toward holding more gold than the United States keeps in Fort Knox. Not announced - accumulated.
His reason starts with the yen, down three years straight.
@qmbigbeat
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Peter Thomas retweeted
QM Live w/ Peter Thomas @goldbug111 nitter.net/i/broadcasts/1mGPaLvyg…
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Thank you all for attending my appearance at the Moneyshow in Dallas this weekend. I enjoyed
seeing many long time friends in the Metals industry.
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