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[hazl] 22/5/2024 09:46

Last year, in June 2023, I wrote an article titled Silver Lining, outlining the bullish case for silver. At that time, silver was priced around $22.43 an ounce. Today, on May 20, 2024, we're looking at a significantly different landscape with silver trading at $32.16 an ounce, a remarkable 43% increase and silver’s highest close in 11 years. This substantial price jump validates the core arguments I presented a year ago regarding the growing demand for silver, particularly in the industrial sector and solar energy.
Demand Continues to Outpace Supply

The Silver Institute's 2024 World Silver Survey confirms what I anticipated: the global silver market continues to grapple with a supply deficit. The report estimates a deficit of 17% in 2024, which builds upon the deficits observed in the previous two years. This trend underscores the growing pressure on the existing silver supply to meet the ever-increasing
demand.

[hazl] 22/5/2024 09:31

A Hidden Factor Impacting the Gold Price

As mentioned earlier, smart money is actually paying attention to something that is more important than the Fed’s monetary policy, but this particular factor makes the Fed’s monetary policy totally irrelevant. The shift from a dollar-denominated trade system is the factor. Putin's visit to China today has marked another important event, as the two countries are actually looking to trade in their own currencies, and this very factor makes gold even more important. When a country seeks to transition from the dollar-denominated system, it is crucial to have gold reserves to support its currency, with China and Russia playing a significant role in gold demand. They must increase their gold reserves to maintain the value of their currency, even as they include other soft commodities in their mixed basket to demonstrate their ability to trade and trust each other's currencies. In the event of a currency crisis, the inclusion of gold in the basket will provide stability and value to the currency. India has already begun trading in its own currency with Russia for oil, and discussions are well underway for the UAE to engage in currency exchanges with China, India, and Russia. All of this puts the dollar-denominated exchange system at much greater risk.
Kitco I

[hazl] 22/5/2024 09:19

McGlone said Bloomberg’s bias “is leaning with some normalization, notably in the stretched stock market, which typically favors the top precious metal vs. increasingly industrial-based silver. Led by China, central banks are buying gold and adding buoyancy to most metals. Industrial metals are typically more highly correlated to equity prices than gold.”



Based on the recent strength shown by gold, McGlone said there is a strong likelihood it will continue to outperform stocks and other metals as investors rediscover the allure of holding the yellow metal in challenging markets.



“A top markets spread with macroeconomic implications is gold vs. the S&P 500 (SPX), and risks may be leaning toward the metal outperforming,”; he said. “At about the same on May 17 as the end of 2019, the gold/SPX ratio and total ETF holdings of the metal appear to be ripe to move, awaiting a catalyst. It's the potential for a shift to inflows in gold ETFs, following record-setting outflows despite the rising price since 2020, that may portend a win-win for the metal's price.”



As for why investors should buy gold “with the stock market on a tear and T-bills above 5%,” McGlone noted that central banks have had a voracious appetite for gold in recent months, and that shows no signs of slowing.



“Central banks buying gold at a tremendous pace is more likely to accelerate than diminish, according to the World Gold Council,” he said. “To May 17, the metal is up about 17% in 2024 vs. the S&P 500 total return at around 12%.”



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For this reason, McGlone suggested that “2024 may be about gold vs. everything else.”



“Record 2024 highs in gold and copper vs. crude oil and corn on May 17, at levels first traded in 2007 and 1996, may show the commodities performance tilt favoring metals,” he said. “Low supply elasticity, storage costs, and trends in de-dollarization and electrification are top metal-sector attributes, but autocorrelation forces leave behind a lone standout: gold. It has demonetized silver, and the graphic shows the propensity for gold to outperform the metal, energy, and agriculture sectors over time, notably on a total-return basis.”



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“It's a question of endurance and our bias is gold's risk vs. reward is leaning toward outperformance acceleration, particularly if the elevated US stock market has a bit of normal reversion,” he added. “‘Unlimited friendship’ between the leaders of China and Russia may solidify gold's geopolitical buoyancy.”



With the S&P 500 roughly 20% above its 100-week moving average, which McGlone said is “typically a stretched danger zone,” it could prove to be “a top tailwind for gold and headwind for crude oil.”



“A bit of reversion in beta could be what the gold/crude ratio bumping up against 30 resistance is anticipating,” he said. “That gold has been the only major commodity setting record highs in 2024, despite significant outflows in ETFs that track the metal, might suggest diminishing potential forces to pressure prices.”



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McGlone said that a “reversal of the colossal buying by central banks could be a gold headwind, but the shift in the world order on the back of the ‘unlimited friendship’ between the leaders of China and Russia may portend early accumulation days for the metal. From a US standpoint, ‘why buy gold with stocks on a tear and T-bills above 5%’ could change with a bit of normalization.”;



Looking at the performance of gold relative to copper, McGlone said, “The fact that delayed reactions in markets can be more extreme may refer to the propensity for gold to outshine copper, particularly when the yield curve normalizes from steep inversion.”



“At about 500 pounds of copper equal to an ounce of gold on May 13, our graphic shows the gold/copper ratio in an upward trajectory since bottoming at around 175 in 2006,” he noted. “That the nadir of the inverted yield spread between the US Treasury 30-year and fed funds rate that year was around 70 bps – about the same as it is now – may suggest similar upside for the precious metal vs. industrials.”



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“It's the distortions of the pandemic and shift in the world order, on the back of the ‘unlimited friendship’ between the leaders of China and Russia, that may be delaying a typical recessionary response to the inverted curve, and gold boost vs. copper,” he concluded.
Kitco Media
Jordan Finneseth

Jordan Finneseth is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market. Since that time, Jordan has worked as a content creator for multiple projects and as a crypto news journalist reporting on the latest developments within the cryptocurrency market. Jordan holds a Master of Science in Clinical/Counseling Psychology and a pair of Bachelor's degrees in Psychology and Environmental Health Science. You can reach out Jordan Finneseth at 1- 514.670.1372.
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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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[hazl] 18/5/2024 14:36

26 mins.



Relevant.directly.

[hazl] 17/5/2024 16:19

(Kitco News) - In the wake of growing dissatisfaction with corporate governance, shareholders within the mining sector are seizing their power to enforce change, challenging executives to align their strategies with shareholder interests. This resurgence of shareholder involvement is set to transform corporate practices in an industry known for its opaqueness and executive excess.


(Kitco News) - In the US, legislation is being reshaped by a combination of state and federal efforts aiming to revise the taxation and legal tender status of gold and silver. This trend is catalyzed by a broader movement among lawmakers and fiscal conservatives who see these changes as essential to reinforcing economic stability. "Both the state of Nebraska and the state of Alabama passed legislation exempting capital gains from gold and silver on the state level. This is part of a movement. Other states have recently done the same thing," notes Jp Cortez, Executive Director of Sound Money Defense League. In response to these state-level initiatives, federal legislation is also being considered, with "Congressman Alex Mooney recently reintroduced legislation to end all federal income taxation on gold and silver, coins and bullion in the entire country.”

[hazl] 16/5/2024 18:19

The carbon insetting process is externally verified by a third-party provider, DNV, to ensure the accuracy of the CO2 savings transferred to you.

MSC also issues a Retirement Statement with the following information, that can be used for reporting on the carbon footprint of your supply chain (Scope 3 CO2 emissions):



• CO2 savings transferred to the customer (in tonnes), based on:

o Baseline CO2e emissions for the requested service using conventional marine fuel
o CO2e emissions for the requested service using sustainable biofuel
o WTWeq methodology (full CO2e cycle)

• Biofuel specifications and certification
• Proof of Sustainability issued by the bunker supplier
• External verification statement (carbon insetting process)

[hazl] 16/5/2024 18:13

Ben emphasized MSC’s strong commitment to the Project Cargo sector. He highlighted our on-time reliability and our role as a trusted carrier for our customers' Project Cargo needs, even in the context of global challenges.

To learn more about our Project Cargo solutions, please visit


QED Relevant.

[hazl] 16/5/2024 18:11

MSC Cargo
@MSCCargo
How is #digitalization transforming the world’s largest transhipment port? 🇸🇬 🏗 🚢

In this new episode of #MSCDigitalTalks series, MSC’s CDIO @AndreSimha
speaks to Kenneth Lim, Assistant Chief Executive (Industry & Transformation) of @MPA_Singapore
, to find out.

Among other things, Kenneth explains why digitalization is a “survival strategy” and a "force multiplier" for Singapore.

Watch below ⬇️ and read more here:

[hazl] 15/5/2024 22:02

.


Found this through BRICS on X.

[hazl] 13/5/2024 15:00

'NICE full recommendation in July, UKCA marking and the devote study all coinciding around the same time should result in sales beginning straight away. The NHS will clearly need to follow NICE’s recommendation and order the test.' From a poster on LSE not verified.

[hazl] 13/5/2024 08:36

Directors Deals for Brave Bison (BBSN)
Announced Traded Action Notifier Price Currency Amount Holding
23-Nov-23 21-Nov-23 Buy Theo Green 2.00 GBX 1,500,000 250,863,859
20-Nov-23 20-Nov-23 Buy Oliver Green 2.00 GBX 250,000 242,468,473
20-Nov-23 20-Nov-23 Buy Oliver Green 1.96 GBX 250,000 242,468,473
20-Nov-23 16-Nov-23 Buy Oliver Green 1.85 GBX 500,000 242,468,473
20-Nov-23 17-Nov-23 Buy Oliver Green 1.82 GBX 250,000 242,468,473

[hazl] 12/5/2024 16:31

With this new deal we have funding for at least 12 months, enough for the FDA trials and possibly application AND shareholders have the chance to average
GDR




R

[hazl] 09/5/2024 13:32

💜 @TheStrokeAssoc
estimates that yearly hospital admissions for stroke could rise to 151,000 by 2035.

[hazl] 07/5/2024 18:47

Paul McGlone, CEO of Seeing Machines, said: "As expected at the time of our last KPI announcement, we have seen strong growth return in our Q3 vs Q2 production volumes, and with over 744,000 units in Automotive production year to date, we can confidently expect our annual run rate to exceed 1 million this financial year and expand beyond that as more programs start production across our current won business. We've made good operational progress, with a particular highlight being the largest volume program won to date by Seeing Machines. This program also represents a technically challenging and groundbreaking technological solution, introducing the world's first interior cabin monitoring solution via a single camera system, which makes us very proud and reaffirms our status as a pioneer when it comes to innovation.


New, well documented safety regulations, led by Europe are driving demand across our Automotive and Aftermarket businesses, and we are tracking well with demonstrated growth as we help our tier 1 supplier and automotive manufacturer customers navigate this new territory. The safety and regulatory momentum that has continued to build across the globe is supporting increased long-term demand for the Company's differentiated DMS technology.

[hazl] 05/5/2024 08:28

“Flourishing activity in the electric vehicle, power infrastructure, AI and automation sectors will lead to at least 10 million metric tons of additional copper consumption over the next decade…”

[hazl] 05/5/2024 08:02

I repeat.

Yet....you couldn't resist looking.