Counterparties

World's 2nd Largest Stockpile Of Gold Leaves The United States

Even after the Soviet Union fell, most governments still chose to keep their gold in New York. It was safe. America was a rich, trusted ally. Why bother moving it? Fast forward a few decades and the world has clearly changed. Germany was among the first out the door...

Monetary Metals's picture

This week, the prices of the metals moved up on Monday. Then the gold price went sideways for the rest of the week, but the silver price jumped on Friday. We see a higher price of gold along with greater scarcity (i.e. cobasis, the red line), which means the price of gold is being pushed up by buyers of physical metal, not by buyers of futures (which would push up the basis, and reduce scarcity). In silver, the story is a bit less compelling. The scarcity of the metal is holding (not increasing), as the price rises. This implies there is some good demand for physical, and the price action had futures market assistance.

Mexico Warns It Is Ready To Quit NAFTA If Trump Crosses "Red Lines"

Mexico warned it has drawn red lines ahead of negotiations with US President Donald Trump's administration, warning it could quit NAFTA if the discussions hit a wall (not that wall). "There are very clear red lines that must be drawn from the start," Economy Minister Ildefonso Guajardo said as he prepares to meet with US officials later in the week.

China Orders No Market Selloffs During President's Davos Trip

China has taken "measures" to prevent market selloffs this week, Bloomberg reports, as President Xi Jinping’s appearance at the World Economic Forum in Davos puts Asia’s largest economy in the global spotlight, and its immediate reaction has been to manipulate its stock market.