Gold

Both Russia and China have decided to put gold at the center of their currency war against the “exorbitant privilege” of the US dollar.

In this article, I will look at the importance of India in the gold market. In India, gold is religion. India's love affair with gold is timeless, spanning centuries even millennia.

Yesterday, the daily volume on the GDXJ Junior Miners Index beat all records, exceeding by 33% its highest historic value, and producing a 5.78% hike, five times the performance of gold!

New charts showing the relation of the known gold pool vs US gold derivatives.

We cannot understand today’s gold market without understanding the role China and, in a different way, India play in it. The gold market in general is very opaque and the Chinese one, in particular, is even more. In this article, I will look at China’s role in the gold market.

Chinese gold imports from Hong Kong for april. Net imports of 64.04 tonnes. Charts by Nick Laird

Let us look now at the relationship, if there is one, between gold and platinum. Is platinum “white gold”, or “little silver” as the Spaniards call it, or is platinum different from gold and silver.

A new signal, this time coming from large corporations distancing themselves from White House political decisions, that sanctions against Russia are ineffective : Exxon and BP are maintaining their partnership with Russia.

With the help of a few graphs, going from the very long term to the short-term, let us look at gold and silver’s performance since the beginning of the 19th century.

The mechanism used to determine the price of gold and silver, the London fix, is under pressure and China, of course, wants to take advantage of this situation to have more to say on the way precious metals prices should be determined in the future.