Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / 🚨ALERT🚨 This Investor's Comeback Could Skyrocket Silver and Gold Price

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🚨ALERT🚨 This Investor's Comeback Could Skyrocket Silver and Gold Price · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:02
The gold and silver price are getting absolutely clobbered
0:05
this morning. We're going to talk about why
0:07
and what it means for the future.
0:09
We're also going to talk about what JP Morgan is saying about
0:13
precious metals because they've got a lot to say.
0:17
And I think you're going to like what you hear.
0:20
Also. Major, major system outage.
0:22
We're going to touch on that. Major presidential news, we're
0:26
going to touch on that and and the biggest story, a big
0:31
investor coming back into precious metals.
0:34
Is it happening right now and what would that mean for the
0:37
value of your precious metals? But first, the biggest story of
0:41
the morning is yet another beat down in the price of silver and
0:45
gold. I'm telling you, Susie had to
0:47
come down here with a snow shovel and scrape me off the
0:50
floor, put me in this chair just so I could do the live stream.
0:54
I'm thinking guys, especially us silver investors, and we're
0:58
going to look at a very, very crazy chart here in a second.
1:03
But I'm thinking maybe we need to start a support group.
1:05
Maybe we have Sunday evening online meetings.
1:08
The silver, Silver Survivors Support group, the SSSGI mean
1:15
gosh, we've been through the mill, but we've been through
1:18
this before and we've talked about how the silver market in
1:22
particular is very, very volatile.
1:25
But let's run out and take a look at what's going on right
1:28
now in the silver market. And let's take a look at this
1:31
chart from Yahoo Finance's five day chart of the silver price.
1:36
So on Tuesday, right? And I think what makes it so so
1:41
difficult for us as silver investors is just three days ago
1:45
we were down here and I was talking about this surprise that
1:49
the rally that we were expecting and fall that it could actually
1:53
be happening earlier, right? We got the, the low inflation
1:57
numbers, we got the bad employment, everything was set
2:00
up right. The Fed shaking in their boots
2:02
in man, in three days. Look how things have changed.
2:06
We were at what, 3031? We were pushing up towards $32
2:10
per oz on Tuesday, and look what happened on Wednesday, Thursday,
2:15
Friday. Right now we're at what I need
2:18
to refresh this. That might not even be accurate.
2:20
Hold on here, $29.00, OK, on the futures, we're at $29.10 per oz.
2:28
All right, hang in there. Let's go back and look at this
2:32
as well. Well, I want to point this out
2:34
guys. We were talking about how
2:37
critical it is for the silver price kind of in the short term
2:42
to get above this level, that $32 level that we that we pushed
2:47
up against what about a month ago, a month and a half ago, a
2:49
couple times that, that would be a triple top.
2:52
But look what happened here recently.
2:54
Just noticed this this morning, we had another right around
2:58
3150, almost another triple top. OK, I maybe we'll stretch it
3:05
here. If I redraw that line, we'll
3:09
draw it like that, right? Next time we get up there,
3:13
basement dwellers, I'm telling you, we're going to breakthrough
3:15
and when we breakthrough 3150, then we're going to breakthrough
3:19
3250, then we're going to get the $34.
3:23
Once we get the $34, there ain't nobody that's going to be
3:26
looking to sell silver, and silver will skyrocket to $44.00
3:29
before you know it. It could happen by Christmas.
3:32
OK, Really Realistically, I believe that to be the case.
3:37
Don't forget, we were the ones. We were the basement dwellers
3:40
that predicted last year in December that we would get $2500
3:46
gold by May. And we came pretty darn close.
3:51
So I'm telling you, I got the feeling.
3:53
Do you have the feeling? Let me ask you a question, if
3:55
you think. If you think, I know it's a hard
3:59
day, right? Remember this is the Silver
4:01
Survivor support group we're having right now.
4:04
But if you think that we can get the $44.00 by Christmas type 44
4:09
in the chat, hopefully I'll see a bunch of 40 fours going up the
4:13
up, up the up the screen on that side.
4:15
OK, we're going to talk about this big investor that could be
4:19
coming back into silver and gold.
4:21
OK, we're going to talk about JP Morgan.
4:24
We'll get to that. But let's talk about the big,
4:25
other big news story this morning.
4:27
This is, they're saying the biggest IT system outage in
4:33
history, Quote, largest IT outage in history sparks
4:37
disruptions worldwide. Here's what we know right now.
4:41
Early Friday, a global IT outage caused by an issue with
4:44
cybersecurity firm Crowdstrike disrupted flights, banks.
4:48
Did you see the pictures of the airports?
4:50
Like thousands of people at airports, retailers, stock
4:54
exchanges. I know I pulled up my My
4:57
Portfolio thing on Yahoo Finance this morning and the balance was
5:00
really wonky. At least I hope it was real
5:03
wonky because it was real wonky to the downside. 911 call
5:08
centers experts say this could be one of the largest IT outages
5:13
in modern history. Bloomberg reports It was crowd
5:17
strike. And here's here's what people
5:19
were getting. We've all seen that, right?
5:21
The blue screen of death. A lot of people call it OK,
5:25
looks like we got a problem. So this I think comes back to
5:29
this idea that everything is going electronic.
5:33
And I heard some smart people, people say like, oh, do you?
5:36
So maybe do you think it's not such a great idea to put all of
5:39
our data, put all of our everything on the cloud
5:43
electronic, right? Here's another example.
5:45
Don't forget. And this was kind of kept quiet,
5:48
guys. But like half the car
5:49
dealerships in the United States, I hope my dad, he bought
5:53
a new Toyota Camry hybrid, I don't know, about 10 days ago.
5:57
And I was at the car dealership, it's right around the corner
6:00
from my house, big Toyota dealership.
6:02
And they were like, Oh, yeah, we were knocked out because there
6:05
was a major cyber attack on the card, on the on the software.
6:10
Is it DWS that runs all the card?
6:12
I mean, think about your money, right?
6:15
Banks, they said it, right? They said it.
6:18
This disruption affected banks. I actually checked my banking
6:22
app this morning. It was fine.
6:23
But if everything goes electronic, everything's, you
6:26
know, Unicorn fart dust money right in the systems go down.
6:31
Guess what buttercup, you don't have any money unless right,
6:36
unless you have some of this right The the God's money, the
6:40
purest form of money ever created by Jerome Powell in the
6:44
United States Federal Reserve paper money.
6:49
Do you have some of this? Maybe, but even better, do you
6:52
think you know a better option? How about, you know, this is Big
6:57
10, the Silvershire's week. How about this?
7:00
All right, Does that look like real money to you?
7:02
Look at that. Isn't that beautiful?
7:04
That's called silver. Yeah, right.
7:07
That'll work When when the when the systems go down.
7:11
So Microsoft was very much affected by this.
7:15
It's a it's a it's an interesting and evolving
7:18
situation. I think they think they have it
7:20
fixed. But yeah, silver got smashed.
7:22
Let's talk about that a little bit more.
7:24
I want to point out, let's go out the Pembex and get an update
7:27
here on the prices. If you can fix this one Pembex,
7:32
it's you really do have the magic button.
7:34
So let's press the magic button and get an update.
7:36
Let's see if we broke down, if we're more than what That can't
7:42
be right? Hold on here.
7:46
OK, Well, we're saying here 2424 gold, silver, $229.
7:54
I'm, I'm speechless here, guys. I don't know.
7:57
We're going to have to double check that.
8:00
Like we said, there's a lot of systems issues going on right
8:03
now, but none the less, let's say thank you to channel sponsor
8:06
pembacs. They make this live stream video
8:08
possible for us basement dwellers.
8:10
Thank you pembacs. I love having them a sponsor
8:14
because I believe in the company right, but you right need to
8:18
check them out for yourself. If you're looking to buy some
8:20
silver gold, platinum group metals online, I'll I'll tell
8:24
you what I always find is their prices are like very difficult
8:28
to beat. They always have a great
8:30
selection. If I ever need any help, I can
8:33
call, talk to the to the, to the brothers that run the company,
8:37
everybody, all the basement dwellers that have that have
8:41
used Pembacs have all I, I just received e-mail after e-mail
8:46
saying what a great experience they had with Pembac.
8:49
So, but you need to figure that out for yourself.
8:50
Do your own due diligence. I'm not ever going to tell you
8:53
what to do, but I would just say to you that you may benefit by
8:57
throwing Pembacs into the mix next time you're looking to buy
8:59
some gold, silver or platinum group metals online.
9:01
And if you ever get to a point where you think you might want
9:03
to convert part or all or some of an IRA, please, please do
9:10
yourself a favor and talk to Pembacs and compare right at the
9:15
end of the day with the amount of money that you might be
9:17
looking to convert into an IRA can compare how many actual oz
9:23
ounces of gold and silver you're going to get from your different
9:26
options. Do not just stick with one
9:30
company. Do some comparison shopping.
9:32
Always do comparison shopping. And I feel good telling you to
9:35
do that because I know that Pembacs will most likely come
9:38
out on top. Now, back to the big story.
9:42
Is the summer rally dead? Oh, boy.
9:44
Yeah. Look, guys, I mean, that's why
9:46
it's so. That's why it's so
9:47
heartbreaking. What's going on?
9:49
Is your heart broken? It's going to be OK, trust me.
9:55
Right. Are we going to get to 44
9:57
dollars silver by Christmas? Yes, we are.
10:00
OK, I'll eat my words. That's my that's my only
10:04
prediction. I think that I have outstanding
10:06
right now is that we will get the $44 silver by Christmas.
10:11
If not, I'll sit down here in the Santa Claus outfit and say I
10:14
was wrong. And I definitely could be wrong.
10:17
But I got a feeling with everything going on that we
10:20
could definitely see 44 dollar, yeah, 4/4 by Christmas, right?
10:25
If you don't agree with me, send me an e-mail, tell me why.
10:28
But I see it happening and I see it as a real realistic
10:32
possibility. The early fall rally that we
10:36
predicted it might be dead, guys.
10:38
OK, look, we talked about I was, I, I, I said that the odds of it
10:42
happening were greater than ever.
10:44
I said that a week ago, I was surprised that it was going on.
10:49
But now at this point, I'd have to say that it might, it might
10:52
not be. Who knows?
10:54
Who knows what can unfold? And we got big news.
10:58
We're going to talk some politics because Ron's basements
11:01
now, now is a political show. We're going to talk some
11:04
politics. And then it goes, who knows
11:06
what's going to happen? Don't forget, we had an attempt
11:10
on the life of one of the presidential candidates.
11:13
I don't think that's fully sunk into everybody yet.
11:15
Things are crazy out there. Absolutely.
11:18
And don't forget, OK, let's go out here.
11:22
Don't forget one thing. We're going to talk about gold.
11:26
We're going to talk a lot more about gold.
11:28
Hold on here. Escape, OK?
11:31
Make sure I got you guys at the right place, which I do.
11:34
I'm running you all over the Internet, OK?
11:37
Goldie 2400. I know that's futures, but we'll
11:42
take it. We still have $2400 gold, guys.
11:45
And don't forget, don't you dare forget one big thing, OK?
11:51
Gold is the granddaddy of the precious metals.
11:54
We have $2400 gold right now. It's a big deal.
12:01
Let's see if we can pull this up.
12:02
Let's look at the chart of gold quickly.
12:05
OK, this is a big deal. Oh my gosh, what is that?
12:12
Six months? Look at the six month chart of
12:14
gold. I know nothing like drawing a
12:18
couple lines on the chart. I mean, we could start back
12:21
here, right where we were at basically 2002, $1000 gold back
12:27
in. I mean, there's robust support
12:31
that we're here right now. That is a big definitive trend
12:35
line going up. We know, right.
12:37
Think about India, China, oh, here, let's go.
12:40
Let's get back to this. Let's let's talk about so we got
12:43
support for gold. So what are what's the
12:46
reasoning? Why do you know why gold and
12:48
silver are going down so horribly this morning?
12:52
My sources are telling me it's all exclusively going on in the
12:59
futures market, that a lot of gold traders, a lot of short
13:02
term speculators that by futures Unicorn fart dust paper Comex
13:07
and LBMA gold, right, are getting shaken out right now.
13:10
A lot of people jumped on the momentum bandwagon and they are,
13:14
what do you call it, skittish, right?
13:17
They're skittish. So they're all selling that this
13:19
big downturn is in silver as well is nothing has nothing to
13:24
do with the physical market, absolutely nothing.
13:26
We'll talk touch on that here in a second.
13:29
People are saying the reason, right?
13:31
There's always got to be a reason.
13:32
The people are afraid that the Chinese economy is slowing down
13:36
the Chinese account. And so the Chinese well, I saw
13:39
even though the Chinese central bank supposedly isn't is not
13:42
buying any gold right now, but none the less that that that's
13:46
going to result in lower demand for gold and silver out of
13:50
China. Oh, really?
13:52
Really. Right.
13:54
OK. Because look, here's all the
13:55
here's all the here's all the big headlines going on in that
14:00
regard. I did the last 24 hours.
14:03
What were news stories that talked about the Chinese
14:06
economy? The children's news network says
14:09
China economy key meeting offers They just had some big meeting
14:13
over in China offers few clues on how to tackle the worsening
14:17
downturn. Our friends at Reuters say
14:20
Chinese officials expect a bumpy ride for the economy after the
14:24
policy meeting. So people are using a slowdown,
14:29
right? A slowdown, the Chinese economy
14:31
slowing down. Let me tell you something, The
14:34
Chinese people, right, it doesn't mean they're like
14:37
suddenly going to be completely broke, okay?
14:40
And those people love gold, period.
14:44
What's going on in India, All the data we're getting out of
14:48
India, right? So there there is robust demand
14:52
for gold. It's actually shocking a lot of
14:54
people because tip me a lot of times when the price of of gold
14:58
goes up so high, the demand goes down.
15:00
And that's just not happening. That's just not happening.
15:03
So don't listen to what they're saying.
15:06
OK, Boy, we're all over the place this morning, basement
15:09
dwellers. But let's talk about quickly
15:12
also the gold to silver ratio because it is skyrocketing.
15:16
Let me pull that up for you. Here we go.
15:21
OK, up here. Let's do a refresh on this.
15:26
This comes from goldprice.org. Right now, the gold to silver
15:31
ratio is at 82.41. It had dipped as low as what?
15:36
I mean, well, heck, it was down at 78 just three days ago, but
15:40
it had gotten as high as 90, I think back in February and but
15:45
recently it dropped to as low as 76.
15:48
So right now, if you have an ounce of gold, one ounce of
15:52
gold, right, you can convert that to approximately 4 tubes of
15:57
American Silver Eagles, which is crazy, or four tubes of maybe
16:03
not American Silver Eagles, They have a big premium on them.
16:05
But you can, you can basically convert 1 ounce of gold into 82
16:11
ounces of silver, which is absolutely crazy, OK.
16:17
I mean, would you or you can trade 80 ounces of silver for
16:21
one ounce of gold. I take that trade all day long.
16:25
I don't have that. I don't, I don't stack gold.
16:27
But if I did, I, I wish I had, I would be personally, I'm not
16:31
giving financial advice. I would be converting gold into
16:35
silver. Man, so many big stories right
16:38
now. Stocks.
16:39
Yesterday, the stock market got clobber, but the Dow was down
16:42
500 points yesterday, the US dollar is going up again.
16:50
The prettiest turd in the toilet contest, the DXY.
16:53
We got the dollar going up. OK, but here, big story, Joe
17:00
Biden will be dropping out of the presidential race this
17:03
weekend. But nobody knows for sure.
17:05
But it's pretty much feels like a sure thing.
17:08
OK. I was talking to Don the Brain
17:10
last night about this, and he brought up something that I was
17:13
just like shocked when I heard it.
17:16
And this may be shocking to you. And I said, so I guess, I guess
17:20
that means that Kamala will be the presidential nominee, which
17:24
is what most people are thinking.
17:26
And and then he asked me, I hadn't even thought about this.
17:29
Have you thought about this? This is crazy.
17:31
What's going on? He was like, well, who's going
17:35
to be the vice president? And I don't think it'll be Joe
17:38
Biden, right? So we got Kamala Kamala running
17:42
as the is the Democratic nominee.
17:44
Who's going to be your vice president?
17:46
And I'm like, I don't know. And of course, I think I said,
17:48
was that guy Gavin Newsom? He said, I don't know.
17:51
He said, what about Michelle Obama?
17:53
And I about had a heart attack. I was like, I hadn't even
17:57
thought about that. You know, I mean, guys, think
18:00
about that. And then I thought, I can see
18:02
the T-shirts already. It's going to say Kamala Obama,
18:06
Kamala Obama. I have a hard time saying that
18:08
Kamala Obama. I mean, this is nuts.
18:15
Can you imagine the next four months presidential race you got
18:20
Trump and I mean it's and Trump advance against Kalam Obama.
18:25
I mean, and then he said, well, it could be AOC and I'm like,
18:31
wow, I mean, we are living in some very interesting times.
18:36
Very and I'm not I'm really not a political show, OK, I just
18:40
report the facts. Obviously they ex President
18:45
Trump accepted the Republican nomination last night, gave a
18:48
nice long speech. I'm going to leave it at that.
18:51
But I, I mean, do you, can you envision the next?
18:54
I mean, what's going to happen? They're saying that if Biden's
18:56
going to resign this weekend. I, I mean, are we are living
19:00
through some very, very crazy, crazy interest.
19:04
Get ready for crazy town. I'm telling you, right.
19:07
And remember, gold is still above or hovering around $2400
19:14
per oz guys. I mean, and gold is it's so
19:19
critical for us to remember this, right?
19:21
From a monetary metal perspective, gold is the
19:24
granddaddy of the precious metals.
19:27
Gold is like the the Big Brother and and silver's like the little
19:32
brother. Wherever gold goes, silver will
19:34
follow and gold is going right. Remember, gold is universal.
19:40
Gold gold's just not valuable in certain places.
19:43
It's universal. The whole universe, timeless,
19:47
wisest, it's apolitical, it's not political, right.
19:53
And so as a result of that, it is subjected to the most freest
19:57
form of market forces in the world.
20:01
You may not agree with me, and I think the same thing can be said
20:04
about silver, the freest form of market forces.
20:07
The true market price for silver will be and gold will be
20:13
determined. That's the good news.
20:15
Well, you may not like it, right?
20:17
I know, I know what it feels like we've gone through,
20:21
especially with silver. It's like a miniature Lucy pulls
20:24
the football. Do you ever watch the Peanuts
20:26
cartoons when you were growing up?
20:27
And Lucy would get Charlie Brown, though I try to kick a
20:30
field goal and she would hold the ball and as soon as he got
20:33
up there, she pulled the ball away, Right?
20:35
That's what I heard. Larry Leopard's the first person
20:38
ever. That's what silver investors in
20:41
particular have been through. But it's not really been the
20:43
case for physical gold. I know.
20:47
What was it Tuesday we had all new all time highs and the gold
20:51
price and who knows what could happen today, right?
20:53
Who knows who knows how the day could end?
20:55
Sure, we're down 50 bucks an ounce and gold right now, but
20:58
the guys, the way this world is changing and how fast things are
21:02
changing, right? I wouldn't be surprised if if
21:05
the end of the day winds up being a little better.
21:07
Let's be optimistic. We're believers, right?
21:10
Basement dwellers, absolutely. That's crazy town.
21:14
All right, what if, what if a big investor comes into the gold
21:20
and silver markets and I mean the biggest investor, OK.
21:24
And I've got three charts we're going to look at.
21:27
They could indicate to us, right, for precious metals,
21:29
silver and gold that that big investor, right, could be.
21:34
Now maybe things changed a little bit with what happened
21:37
today, but let's look at these three charts.
21:39
And this is a new source of information that we're going to
21:42
look at today. This comes from our friend Pre
21:48
Tiorati's. Pre Tiorati's thoughts.
21:51
OK, it's a sub stack in this guy's night.
21:55
I, I don't, he emailed me about a month ago.
21:58
He said, hey, I love your show. I, I love the basement dwellers.
22:01
I put out this data about the gold and silver market.
22:04
Check it out. Feel free to use it on your show
22:07
anytime. And he sent me something last
22:10
night that that I thought really, really drove home this
22:13
possibility that we could have this big, big, the biggest
22:19
investor in the world moving into the silver and gold price.
22:23
So he first thing he says is gold rises without its brother
22:29
silver. What's going on?
22:30
Question mark. OK.
22:32
And he says here, gold has continued to rise over the last
22:35
two weeks, especially this week. Silver, however, seems to be
22:38
struggling to find its way back to the uptrend.
22:42
Let's therefore analyze the precious metal a little more
22:45
closely. So we're going to skip ahead
22:47
because I want to go to three charts that I thought were very
22:50
interesting. What he pointed out, OK, this is
22:54
the gold price. And I didn't realize this, but
22:56
he said right now and no premium is currently being paid over
23:01
London and Chicago. So the what he's saying is that
23:04
in China, right, silver's a different story.
23:07
They're paying a big premium for silver in Shanghai.
23:11
However, however, for gold in Shanghai, they are not paying a
23:16
premium. This indicates that Chinese
23:19
investors are not responsible for the uptrend of the last two
23:25
weeks. So who is responsible, right?
23:29
If the Chinese investors aren't paying up for gold, then we're
23:33
going to talk about silver too, don't you worry.
23:36
Who is? Could it be the West, right?
23:39
Could it be? Could it be people in London?
23:42
Could it be people in New York, Chicago.
23:43
Saint Louis, San Francisco, Seattle?
23:47
Could it right? No.
23:49
Chinese premium means China's not responsible for the most
23:52
recent uptrend in gold. And if China isn't, then the
23:58
Western gold investors could be coming back and wait, there's
24:03
even more. We need to talk about this, but
24:05
let's look at this chart. So the black line is the spot
24:08
price and gold, there's the gold price over there, as we know,
24:12
right? Since October, right?
24:14
The gold price, I'm sorry, October 2022, but also October
24:18
2023, look at that gold price has gone up and up and up.
24:22
The orange is the premium that represents the premium and
24:27
that's the percentage over here on the right hand side that's
24:29
being paid in Shanghai for gold, OK.
24:33
And as you can see, typically that premium can get pretty darn
24:37
high. But right now it's at nothing,
24:41
which indicates it's not the Chinese that are buying all the
24:45
gold. They're not the Chinese that are
24:47
that marginal source of demand that are making the price go
24:50
higher. So what other evidence?
24:53
Let's think about something that we've heard lately, and I'm
24:55
hearing this again from all of my sources.
24:58
Right. We're hearing.
24:59
Hey, thank you, Silver Surfer. Hey, Super Chad.
25:03
All right, brother, thank you for your hold on here.
25:06
Let's pull him up. There he is.
25:09
Silver, Have a coffee and a doughnut.
25:11
Yeah, we need it this morning, don't we, my friend?
25:13
Thank you, guy. Hey, let me let me finish on
25:16
this point, then I want to say something to you specifically.
25:18
To you. Yes, but.
25:20
But we know the Chinese aren't this possibly this recent if
25:25
we're looking at the premiums, right?
25:27
They're not paying up for gold, right?
25:29
So we also know that in the West, the ETF, the ETF have been
25:34
being drained on the gold side. We'll talk about silver too, but
25:38
that's kind of abated, right, that that drainage.
25:42
So this could be this most recent up upturn.
25:45
And that's kind of what I'm, I'm feeling and I'm hearing these,
25:48
the data is alluding to could be from the Western investor.
25:52
And guys, you know what's going to happen if we get just a
25:55
trickle of investment, right? A trickle of an increase in
26:00
investment into the precious metals from the Western
26:03
countries. It would be time to put boots on
26:06
the warehouse floor. It would be time to make some
26:09
feathers fly. It could be good, good, good,
26:12
good times, right? This $3000 gold, $3200 gold.
26:17
We're going to talk about silver too.
26:19
Thank you, Silver Surfer again for the Super chat.
26:22
And I just want to take a second to say something to you.
26:25
Yes, you. That's why they called it
26:27
YouTube. This is all about you.
26:29
You're a unique individual. And it's a big deal that you
26:32
decided to join me here in the basement.
26:34
I really am honored when you do that.
26:37
I hope you feel like you found a little home away from home, a
26:40
refuge in the storm. And let me tell you something,
26:43
Buttercup, we're having a storm this morning.
26:48
But you know what? Maybe you're new.
26:50
Maybe you've been coming to the basement for two years, right?
26:53
We've been doing this for a while now, guys and girls and
26:56
women and men, and we've been through a number of storms and
27:00
we're here, right? We're still standing.
27:03
Right. But you know that song?
27:04
I'm still standing. Yeah.
27:07
Yeah. OK.
27:08
We don't give up, and we aren't going to give up.
27:09
Thank you for being here. Please give this a thumbs up.
27:12
You can share it with anyone you like.
27:14
You can share it with your grandma if you have to.
27:16
I don't care. And you can subscribe to the
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channel. That's free as well.
27:20
Let's get back to this article because this gets even more
27:23
interesting in them. We're going to talk about what
27:27
the guys over and and women over at JP Morgan are saying about
27:33
gold. Let's look for a little more
27:34
evidence though here. This is great again, it's called
27:37
pre Tiorati's thoughts. The sub stack you can subscribe
27:42
to. I'm not affiliated.
27:44
I don't get a Commission anything like that.
27:46
I just think this this person puts out really great
27:49
information. Nevertheless, in Shanghai, OK,
27:53
the premium, a premium of 10 to 15% is still being paid compared
27:58
to London and Chicago on physical silver still seems to
28:03
be in short supply in China or rather demand remains very, very
28:08
high. So I was thinking this morning
28:12
because I went out and looked at the Oriental Ghost, right, the
28:14
Shanghai Gold Exchange data, it's like there's still like a
28:18
10% premium being paid for silver in China.
28:21
And I thought, you know, it's always higher over there.
28:24
So maybe now we'll start to call it the Shanghai High, High
28:28
Shanghai Gold Exchange. It didn't come out as well as I
28:33
hoped it would. Nonetheless, here's the silver
28:35
price on the left, the black line and that is the premium.
28:39
Look at the premium. They're still paying for silver,
28:42
but but so that doesn't really indicate to us that the silver
28:48
price increase was from the West.
28:50
But our friend Pretorius brings out a interest, brings up a very
28:55
interesting point. If you heard of PSLV, that's the
28:58
Sprott Physical Silver Trust because striking the discount
29:04
between Physical Silver and the Sprott Physical Silver Trust has
29:08
disappeared. This is an indication of greater
29:11
interest on the part of Canadian investors.
29:14
I would throw in their American investors as well.
29:18
Pretoria. That's because a lot of American
29:20
investors also buy the Sprott Physical Silver Trust.
29:23
PSLV. I've done videos on it over the
29:26
years. It's the actual physical.
29:29
They don't call them ETS, they call them trust and they don't
29:34
call it shares, they call it units.
29:36
But anyway, when you, whatever money you put into the PSLV is,
29:41
is used to immediately buy silver, OK?
29:45
And So what this is telling us, OK, what this is telling us when
29:49
we look at this is on the left is the silver price.
29:53
In the black line again is the silver price.
29:56
As we can see, we've gone up to around 30 per oz.
30:00
This multi colored line is the premium, OK, Which means guys,
30:05
there's been a situation with the Spratt Physical Silver Trust
30:10
over the last few years where you actually could buy physical
30:14
silver at a discount, OK? And that's shown here on the
30:17
right. As you can see like at some
30:20
points even more even recently this year, you could buy silver
30:23
at like a 4% discount, but that is gone, right?
30:27
It's back up to 0, which means people are willing to, to, to,
30:32
to, to put more money into this product, which is buying
30:37
physical silver. And that money is not coming
30:39
from China. That money is coming from Canada
30:42
and the United States. So when I look at what's going
30:45
on with with this situation, with this data, right to me,
30:50
it's not ABS. Hey, Daniel, thank you.
30:53
Hold on here, buddy. Yeah, I'm going to have a great
30:55
week. And I tell you what I get to do,
30:57
guys. When I get off the live stream,
30:59
I get to take five kids under the age of 12 to Six Flags.
31:03
Hopefully, I'll be back tomorrow, but thank you, Daniel,
31:06
for the Super chat. What is this data telling us,
31:09
right, the ETF outflows from the SLV from the GLD have abated,
31:16
right? That was money coming out of
31:17
those ETS, the PSLV, the physical silver trust from
31:21
Canada, which includes a lot of American investors as well.
31:25
The discount is gone, OK. The the premium on the Shanghai
31:31
Gold Exchange for gold is gone. That could indicate to us that
31:35
the Western investor at least maybe up until today.
31:39
We'll see how today, we'll see how today turns out.
31:41
It could be good, baby. It could be OK, OK, OK.
31:46
But it's starting to indicate hence that the Western investor
31:50
is coming back. But here's what's so important
31:53
for us to remember the big deal about this, guys, we cannot
31:57
underestimate when it comes to the silver price and the gold
32:01
price that even the smallest trickle, I mean, you don't like
32:07
when you turn your faucet on and it just trickles.
32:10
The smallest trickle of improvement, marginal
32:14
improvement, right in demand for silver and gold from the Western
32:19
economies, the G7 economies, whatever you want to call them,
32:23
just a small that little trickle and start a tidal wave.
32:28
OK, it really could OK. I mean, it it it would have a
32:32
direct impact on the silver and gold price, no doubt, but it
32:35
could also start a tidal wave. And I can't I can't We got we
32:40
got is interest starting to grow.
32:43
I mean, we know all this crazy stuff going on in the West is we
32:47
know what's going on. Costco is selling gold and
32:50
silver, OK? We aren't going to go down that
32:52
road that's been beat to death. Everybody knows that, right?
32:56
I talked about this yesterday and we aren't.
32:58
We're going to talk about it briefly.
32:59
Thanks again, Silver Surfer and my friend Daniel for the Super
33:04
chats. But this, I think, is bears
33:06
repeating. Where'd it go?
33:08
Here it is. Cookie company tips Treats is
33:13
branching into gold Guys, a cookie delivery company is now
33:18
allowing you not to only have cookies delivered, but one ounce
33:22
silver bars. And I'm thinking like, what's
33:25
next? What are we going to hear next?
33:28
Are we going to hear that? What's that called DoorDash?
33:32
Is that what it's called DoorDash Dash door, whatever,
33:34
where you, you can get a McDonald's Big Mac delivered to
33:38
your door for 30 bucks or we're going to hear the DoorDash is
33:40
delivering silver and gold. I mean, I don't know about you,
33:44
right? I think we used that thing one
33:46
time because we had like a $20 credit code they'd sent us and I
33:50
was like, this is unbelievably expensive.
33:53
You know, we got some like Taco Bell delivered because the kids
33:57
wanted Taco Bell. And like I said, we'd like a $20
34:00
credit. Still wind up costing us like 30
34:02
bucks on top of it. I mean, it's crazy.
34:05
I mean, wouldn't you, instead of spending $35 to have a Big Mac
34:09
delivered to your house, wouldn't you rather maybe pay
34:12
$35? They have an ounce of silver
34:14
delivered. I don't know me, I still want to
34:17
buy my silver and gold from a specialist, right?
34:19
I would recommend like a trusted local coin shop or even better
34:25
yet, if you want to buy it online and get the best prices,
34:28
you know who I'm talking about Pimbex right there they are
34:31
right there. Pi MB EX.
34:34
None the less, if we have an improvement in interest in
34:37
sentiment right, it could be the smallest trickle.
34:42
This, I'm gonna, I'm gonna. It's the the smallest trickle of
34:47
improvement. Could be big things, man.
34:52
Everybody else is asleep. All your fellow, your fellow
34:55
Americans have not woken up that the system is broken, right?
35:00
None of the politicians are want to talk about the national debt?
35:05
Have you heard anybody talking? This is a presidential year.
35:08
What's the biggest issue? What's Jamie Dimon talking
35:11
about? What's Jerome Powell talking
35:13
about? I mean, even what's she talking
35:16
about? Right.
35:18
Warning, right, let's put her away.
35:23
Right. What?
35:23
What's he talking about Hi, everybody.
35:29
Yeah, they're talking about what's Jeffrey Gunlock talking
35:34
about? Everybody's.
35:35
What's Ray Dalio talking about? What are the smartest people?
35:38
We're in a precarious. We are skating on thin ice in
35:41
the United States, right? So when your fellow Americans
35:44
wake up, you know, when they go to the grocery store and, and
35:49
that gallon of milk cost $12.00 or $15.00, that cost $4.00 two,
35:56
three years ago, right? I'm talking about two years from
35:58
now, three years, right? It could be you'll be very, very
36:03
glad that you own silver going by the way, almost, I've been
36:06
forgetting to talk about this. If you want to own some silver
36:10
and not pay anything for it, enter the Ron's basement.
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Pinbeck's sponsored. Our friends at Pinbeck sent us 3
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You'll have to invest like 2 minutes of your time.
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Not even that. Really.
36:45
OK, Where were we? OK.
36:48
India gold. The summer rally.
36:50
The summer rally. Is it done?
36:52
Is it gone? We'll find out.
36:54
OK, we'll find out. Let's talk about JP Morgan.
37:01
I know we don't like JP Morgan, right.
37:05
They manipulate the silver and gold price.
37:06
They've been convicted of manipulating the silver and gold
37:09
price. But but they are very, very
37:13
bullish right now on the precious metals.
37:16
And let's talk about why. And I've got a few key points in
37:20
this article that I want to point out to you.
37:23
This comes from Kitco. Ernest Hoffman is the author.
37:26
He puts out some good stuff. The gold price will average
37:31
$2500 per oz in Q4 of 2024. Wait a minute there.
37:36
Wait a minute. Aren't we in Q3 of 2024 right
37:40
now? I believe we are.
37:42
So that means he's saying that the the gold price will average
37:47
$2500 per oz. I guess that bear behind me will
37:50
have his blindfold taken off and that that will start.
37:56
What is that? October, November and December?
37:59
That would be the fourth quarter, guys.
38:01
OK, well, let's see why you want to know why.
38:04
Let's talk. Let's talk about why.
38:05
Gold is decoupled from interest rate outlook and real yields.
38:09
And even though prices have already risen sharply, the
38:12
structural bowl case for gold remains intact, according to
38:15
commodities strategist at JP Morgan.
38:19
Not an analyst, a strategist. Is there a what is the
38:22
difference between an analyst and a strategist?
38:24
What's the I'll have to Google that later.
38:26
Won't waste your time with that one.
38:27
Now quote. Gold's resurgence has come
38:31
earlier than expected as it further decouples from real
38:36
yields. OK, So we've seen this
38:38
decoupling, right? When when interest rates went up
38:42
and inflation supposedly went down, that created very positive
38:46
real yields, guys. And that was supposed to be
38:50
catastrophic for the gold price. But the opposite happened, OK.
38:55
Greg Shear, the head of base and precious metals strategy at JP
38:58
Morgan, said, quote, we have been structurally bullish gold
39:02
since the fourth quarter of 2022.
39:04
And with gold prices surging past 2400 in April, the rally
39:09
has come earlier and it's been much sharper than expected.
39:13
It has been especially surprising giving that it has
39:16
coincided with Fed rate cuts being priced out and US yields
39:22
moving higher due to a stronger labor market.
39:25
Guys, we talked about this. I should we can somebody play
39:28
the Rocky theme song. You know, the silver price and
39:33
gold price are doing very well right now considering the fact
39:37
that they've been running into the worst headwinds right in the
39:42
in the in the history of the world for silver and gold.
39:45
If you told these guys at JP Morgan three years ago what was
39:49
going to happen with interest rates, what was going to happen
39:51
with the dollar, they would have said well, in July of 2024,
39:56
giving those, given those circumstances, the price of gold
39:59
should be approximately $16150.00.
40:03
But the opposite has happened. Gold and silver have proven
40:06
themselves because the real value, as you measure it in U.S.
40:10
dollars, the real value of the US dollar, right, has shrunk.
40:15
That's the bottom line. The real value, not the
40:18
prettiest turn in the toilet, DXY index or any of that other
40:21
crap. No, the real value and that's.
40:24
The big, big difference that we need to pay attention to, let's
40:27
go back to our article. It says amid frame geopolitics,
40:34
OK, we know that's going on increase sanctioning and D
40:37
dollarization. This is this is JP Morgan saying
40:40
this D dollarization. We observed an increased
40:43
appetite to buy real assets, including gold.
40:47
Shearer said recent data also shows reluctance amongst
40:51
physical holders to sell their gold or silver for that matter,
40:56
despite the strong price gains, underscoring the structural
40:59
bullish drivers irrespective of the US real yields.
41:04
OK, I forgot to show you this chart.
41:06
Let's click on this. This is the chart of real
41:08
yields. OK, I'm sorry, the gold price is
41:11
in blue. That's over here on the left.
41:13
As we know, gold's gone uppity, uppity, uppity.
41:16
The orange is the real yield, but it's inverted.
41:19
So that means it's it goes from zero to down.
41:22
So this is positive. Right now we're at positive
41:25
what, two and a half, 3% real yields.
41:29
And as you can see, those, the gold price and the inverted real
41:33
yield price typically follow each other.
41:36
But boy, oh boy, something changed, right?
41:39
Something changed. What happened about right then?
41:41
This is when all the big bricks de dollarization sanctioned
41:45
stuff happened. The price of gold has
41:47
skyrocketed while the real yield again, this is inverted has gone
41:52
up. So that's very critical for us
41:54
to to remember, OK, a recent data also we're right here also
42:02
shows reluctance, OK, to sell their gold.
42:05
I already read that many of the structural bullish drivers of a
42:10
real asset like gold, including US fiscal deficit concerns.
42:15
And that's like, but wait, there's more, right guys?
42:17
There's the world of central bank reserves, diversification
42:20
into gold, inflationary hedging and A-frame geopolitical
42:23
landscape have lifted prices to new all time highs this year.
42:27
Actually, that was earlier this week as well, despite a stronger
42:30
U.S. dollar and higher US yields, and will likely remain
42:35
in place regardless, although irregardless is also a real
42:40
word, by the way, Just had that debate with somebody a few days
42:43
ago of the US election outcome this autumn, said Natasha
42:48
Kaniba, head of global commodity strategy at JP Morgan.
42:53
Nonetheless, precious metals markets will be focused on any
42:58
potential policy change that could accentuate or alter one of
43:02
the more one or more of these things.
43:04
OK, all right, sure reiterated the firm strong positive
43:07
position on the medium term outlook for gold.
43:10
This is JP Morgan Chase as well as silver prices.
43:15
See that guys silver prices across all metals.
43:19
We have the highest conviction on a bullish medium term
43:23
forecast for both gold and silver over the course of 2024
43:28
and into the first half of 2025, though timing and entry will
43:33
will continue to be critical. OK, this is where it gets
43:36
interesting, even more interesting.
43:38
So these, they're bullish on silver and gold, OK, right,
43:42
silver and gold. The firm also upgraded its gold
43:45
price targets for both 2024 and 2025.
43:49
According to the latest JP Morgan Research estimates, gold
43:52
prices are now expected to reach 2500 per oz by the end of this
43:58
year. OK.
44:01
The direction of travel is still higher over the coming quarters,
44:05
forecasting an average price of $2500 in the fourth quarter of
44:10
2024 and $2600.00 an ounce in 2025, with the risk still skewed
44:16
toward an earlier overshoot. That guys means it could happen
44:21
sooner and there's just a here we'll look at that.
44:24
Isn't that beautiful? Let's hope JP Morgan's right
44:27
about this. Here we are right now, Q3 of
44:31
2024, next quarter, 2500 first quarter, 2550, second quarter of
44:38
next year, right, 2571 year from now, right, 'cause we are in the
44:43
third quarter $2500 and then $2600 gold in the fourth
44:48
quarter. We'll see.
44:49
OK. Outside of the near term
44:51
reversion, the biggest bearish risk is the Fed becomes more
44:55
aggressive as the targets inflation, yadda, yadda, yadda.
44:59
the Fed can't fight inflation. The Fed is the Fed is, is, is
45:03
playing Mickey Mouse games right now with everybody. the Fed
45:08
can't fight inflation because the Fed can't stop the real
45:12
value of the US dollar going down.
45:14
And when the real value of the US dollar continues downward,
45:18
the price of everything measured in U.S. dollars will continue to
45:22
go up. That would include comic books,
45:25
milk, gasoline, silver and gold. While we think that it's still a
45:30
tail risk, a transition to a much more hawkish Fed speak that
45:35
prompts the market to begin pricing to switch back to
45:37
further hikes could drag on gold, OK, Even though the recent
45:41
decoupling from yields, this could eventually set up an even
45:44
larger rally. So he's saying if the Fed
45:47
succeeds maybe one last time with their monkey business, with
45:50
their Mickey Mouse games of all, we're going to have to raise
45:53
rates to fight and play. Yeah, if the Fed raises rates,
45:58
guys, how are we going to pay all the interest on the national
46:01
debt, which is darn near real close to $35 trillion right now?
46:05
It doesn't work. Get out of calculator.
46:08
Do a little math, OK? JP Morgan, it doesn't work.
46:11
You forgot to consider that in. All right, This could eventually
46:15
set up an or even larger rally if it pushes the economy towards
46:19
a hard landing. But the road there would likely
46:22
be a lot bumpier than our forecast and vision.
46:25
So what they're basically saying is at the end of the day, gold
46:28
and silver are going to go uppity, uppity, uppity, uppity.
46:31
There's a whole section here about central bank.
46:34
That's what's highlighted in purple.
46:35
We, you guys know that central banks are buying gold like never
46:38
before. I thought this was interesting.
46:42
Gold is a percentage of total reserve holding across select
46:46
central banks. It's saying Portugal has gold as
46:50
78% of its total reserve hold, says the USA has 70%.
46:55
I thought that was very, very interesting.
46:58
And look at China, look at Japan.
47:01
China's at 4%. That's why people are saying
47:04
that the P Bock is not done buying gold, OK.
47:08
And we don't even know if they really did stop.
47:10
There's OK, Jay, the last part here, JP Morgan also sees
47:14
increased and this isn't this is interesting and it's it's ties
47:17
into something we talked about earlier, increased investor
47:22
appetite in the physical gold market as a major flow
47:26
contributor to future gold ratings.
47:28
This is about ETS quote total ETF holdings and gold have
47:30
fallen steadily since mid 2022. Guys, we can't.
47:35
That's another headwind that the gold price and the silver price
47:38
we're fighting, OK, but so have London vault holdings of gold as
47:42
demand from emerging markets, central banks and physical
47:45
consumers have physically offset ETF outflows.
47:49
So people were selling their ETF gold, selling their ETF silver.
47:54
This is where it gets really interesting.
47:56
A re lengthening of investor ETF holdings triggered by the onset
48:00
of a cutting cycle could quickly act to tighten up the physical
48:05
gold market and is expected to be positive for bullion and
48:10
supportive of a climb in prices in the second-half of 2024.
48:15
Last thing, gold prices have already jumped higher even as
48:20
ETF holdings have continued to sag and a turn around here could
48:25
be quite bullish, driving another sustained leg higher in
48:30
prices. And that's going to happen.
48:33
The ETF outflows can only go on for so long.
48:36
OK, period guys, period. OK.
48:39
Hey, thank you for joining me this morning.
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Thank you for being here. We got brighter days ahead and
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I'm going to look forward to enjoying them with you.
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Thank you.