08-04-2020, 08:42 PM
Gold is over $2000 an ounce and silver is at $25. It is a beautiful day.
The rich know what is coming.
Traders on the main gold futures exchange in New York have issued the largest daily delivery notice on record.
In the latest sign of how the market’s norms have been upended by the price disconnect that struck in March, traders on Thursday declared their intent to deliver 3.27 million ounces of gold against the August Comex contract, the largest daily notice in bourse data going back to 1994.
While millions of ounces of gold trade on the futures market every day, typically only a tiny fraction of that goes to delivery. But in recent months, huge amounts of bullion have flowed into New York and the Comex has seen record deliveries.
https://www.bnnbloomberg.ca/gold-traders...-1.1473573
Today:
Gold prices hit an all-time of $2,000 per ounce Tuesday, extending a year-to-date gain that has driven a rally in bullion and prompted the largest inflows into gold ETFs in history.
Spot gold prices traded at $2,000 per ounce in early New York dealing, rising 1.7% on the session as the U.S. dollar struggled to hold gains against a basket of its global peers. The gain extends gold's year-to-date advance to just over 31.5% Comex gold futures for August delivery, meanwhile, rose 1.65% to $1,998.40 per ounce.
Data from the World Gold Council, published last week showed that flows into gold-backed ETFs have risen to 734 tonnes over the first half of the year, an all time high that surpasses the previous record set in 2009.
https://www.thestreet.com/investing/gold...s-declines
United States will be losing its AAA rating soon. The warning has been issued, watch for the downgrade.
Fitch Ratings revised its outlook on the country’s credit score to negative from stable, citing a “deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan.” The country’s ranking remains AAA.
“High fiscal deficits and debt were already on a rising medium-term path even before the onset of the huge economic shock precipitated by the coronavirus,” Fitch said. “They have started to erode the traditional credit strengths of the U.S.”
https://finance.yahoo.com/news/united-st...48506.html
The rich know what is coming.
- [url=https://www.bnnbloomberg.ca/investing][/url]
Traders on the main gold futures exchange in New York have issued the largest daily delivery notice on record.
In the latest sign of how the market’s norms have been upended by the price disconnect that struck in March, traders on Thursday declared their intent to deliver 3.27 million ounces of gold against the August Comex contract, the largest daily notice in bourse data going back to 1994.
While millions of ounces of gold trade on the futures market every day, typically only a tiny fraction of that goes to delivery. But in recent months, huge amounts of bullion have flowed into New York and the Comex has seen record deliveries.
https://www.bnnbloomberg.ca/gold-traders...-1.1473573
Today:
Gold prices hit an all-time of $2,000 per ounce Tuesday, extending a year-to-date gain that has driven a rally in bullion and prompted the largest inflows into gold ETFs in history.
Spot gold prices traded at $2,000 per ounce in early New York dealing, rising 1.7% on the session as the U.S. dollar struggled to hold gains against a basket of its global peers. The gain extends gold's year-to-date advance to just over 31.5% Comex gold futures for August delivery, meanwhile, rose 1.65% to $1,998.40 per ounce.
Data from the World Gold Council, published last week showed that flows into gold-backed ETFs have risen to 734 tonnes over the first half of the year, an all time high that surpasses the previous record set in 2009.
https://www.thestreet.com/investing/gold...s-declines
United States will be losing its AAA rating soon. The warning has been issued, watch for the downgrade.
Fitch Ratings revised its outlook on the country’s credit score to negative from stable, citing a “deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan.” The country’s ranking remains AAA.
“High fiscal deficits and debt were already on a rising medium-term path even before the onset of the huge economic shock precipitated by the coronavirus,” Fitch said. “They have started to erode the traditional credit strengths of the U.S.”
https://finance.yahoo.com/news/united-st...48506.html
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