Christopher returns to the show to discuss the state of the gold & silver markets in late 2019, especially considering renewed Fed easing…
Welcome to this week’s Metals & Markets podcast, I am your host James Anderson of SD Bullion. Listener note to begin as I am traveling late this week.
Thus this Metals and Markets Wrap was completed prematurely to the close of the week’s precious metals trading action.
Simply look at the top of either SDBullion.com or SilverDoctors.com to find closing fiat Federal Reserve note precious metal spot prices for the three majors.
As for the Federal Reserve, don’t call it QE Chairman Jerome Powell stated on Tuesday that he and his colleagues at the US central bank, “will soon announce measures to add to the supply of reserves over time.”
Powell went on to confirm: “As we indicated in our March statement on balance sheet normalization, at some point, we will begin increasing our securities holdings to maintain an appropriate level of reserves. That time is now upon us.
So Federal Reserve balance sheet expansion is now an ongoing policy along with likely further interest rate cuts to come.
In our discussion today, we throw the technical analysis to the side and talk about the larger picture at play for silver and gold-related asset classes.
The interview was recorded at 3:00 PM Eastern, on Tuesday, October 8th, 2019.
Last we spoke with Christopher of iGold Advisor was in late June 2019, back when the spot gold price was $1,410 now near $1,510 oz.
Then the silver spot price was around $15.35 now $17.81 oz. And the gold-silver ratio was 92 now below 85.
Up for discussion is the state of the gold and silver markets now in late 2019 especially considering Federal Reserve easing, balance sheet expansion, and likely further interest rate cuts to come.
This NY Fed REPO story is not going away, and the Federal Reserve’s balance sheet shot up over $184 billion last month alone.
What about this Chinese COMEX yuan-denominated gold futures contract set to begin trading next week within the COMEX gold futures market?
Silver Gold Summit by Cambridge House San Francisco
This coming October 27th & 28th, 2019
Get 50% off admission, use referral code [ AARON50 ]
Learn more about the San Francisco Silver Gold Summit here.
Thanks for visiting us and tuning into this week’s silver and gold podcast wrap.
About the Author/Interviewer
James Anderson has a BA in finance from Loyola University New Orleans. He has both worked and invested in the physical investment grade bullion markets prior to the 2008 global financial crisis.