Counterparties

Gary Cohn Backs Reinstating Glass-Steagal, Breaking Up Big Banks

The former Goldman Sachs Group Inc. executive who is the top White House economic adviser told lawmakers he could support legislation breaking up the largest U.S. banks, according to people familiar with the matter, a development that bolsters congressional efforts to reinstate the Depression-era Glass-Steagall law.

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.