Gold Resource Corp (GORO)

[GORO2020]

""***Those short positions I mentioned before? Don't forget that the counterparties to those trades can either cash out or demand delivery.***""

Here Comes the Rush(GOLD)

Here Comes the Rush
by Adam English

I don't have to tell you gold is the ideal safe harbor right now.

We've been talking about it for a long time now. Now everyone else is.

This chart says it all. If last week's stock market rally felt like a chance to take a breather and relax a bit, look at where gold went after the initial freak-out and mass selling.



We've been talking about that, too. From the Fed wasting its few tools to further boost a stock market at all-time highs to the historic rise in corporate debt at rates that mask risk.

Now everyone else is too. No good comes from saying “We told you so” but we certainly have the option.

We're seeing that in articles that mirror what we've been writing about for years popping up in former bastions of stalwart defense of the NEW new normal for the Fed.

A prime example is The Washington Post, who finally got around to publishing an article titled “The coronavirus crisis is exposing how the economy was not strong as it seemed.”

It was published three days ago. The postmortem approach is good for little more than a mea culpa.

What I do have to say is that there is a sea change — to keep the nautical thing going — not only in the markets, but in investor outlooks, that has only just begun.

It is one thing to limp into any safe port in a storm, it is another to own the docks. We are happy to be in the second group. You should be with us.

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Gold Dealers Report Big Shortages of Small Bars and Coins

Gold Dealers Report Big Shortages of Small Bars and Coins
By Elena Mazneva

(Bloomberg) -- When people are worried about the future they turn to gold to protect their savings. That’s rarely been more true than today.

Surging demand and disruptions from the coronavirus pandemic have created a shortage of the small gold bars most popular with consumers. Those who do manage to get their hands on metal have to pay up –- well above the per-ounce prices being quoted on financial markets in London and New York.

Some dealers are desperately contacting clients to see if anyone is willing to sell their gold bars and coins, and offering a rare premium over spot prices. Others have given up trying to trade altogether.

“People want to buy, not to sell gold,” said Mark O’Byrne, the founder of GoldCore, a dealer based in Dublin. “We have a buyers’ waiting list and we emailed our clients seeing who wished to sell their gold. At this time there is roughly only one or two sellers for every 99 buyers.”

Size is a key reason for the crunch. While there’s plenty of gold in a big trading hub like London, banks and other institutional investors there typically use large bars of 400 ounces. That’s not practical for a regular person who may not want to cough up more than $600,000 for a single bar. Instead, retail investors prefer kilobars (about 32 ounces), 1-ounce bars and coins, or something even smaller.

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Gold gains, buoyed by another surge in jobless claims

Gold gains, buoyed by another surge in jobless claims
By Myra P. Saefong and William Watts

Gold futures gained ground Thursday as another large jump in U.S. weekly first-time jobless claims set prices on track for their biggest one-day gain in over a week.

The big U.S. data point this week will not be Friday’s monthly U.S. employment report, which is usually the most important data point of the month, said Jim Wyckoff, senior analyst at Kitco.com. Instead, the most important is Thursday’s weekly jobless claims report,” he said in a daily note.

Data Thursday showed the number of first-time jobless claims rose by 6.6 million. Prior to the coronavirus crisis, the largest-ever rise in first-time claims was less than 700,000.

“The weekly claims report further confirms U.S. economy has been severely crippled by the coronavirus outbreak,” said Wyckoff.

The U.S. Labor Department payrolls and unemployment report is due to be published Friday but will likely not reflect the surge in unemployment in March as most of the data was collected in the first half of the month before many of the business shutdowns occurred to combat the coronavirus epidemic.

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Gold rush amid coronavirus & economic uncertainty

Gold rush amid coronavirus & economic uncertainty leads to shortage in small bars & coins
RT

As Covid-19 disrupts the global economy, people are snapping up small gold bars and coins, confirming once again the yellow metal’s safe haven reputation during times of uncertainty.

The price of gold hit a seven-year high of more than $1,700 per troy ounce on March 9, as a result of the deepening economic impact of the coronavirus outbreak.

“People want to buy, not to sell, gold,” Mark O’Byrne, the founder of GoldCore, a dealer based in Dublin, told Bloomberg. “We have a buyers’ waiting list and we emailed our clients seeing who wished to sell their gold. At this time there are roughly only one or two sellers for every 99 buyers.”

According to Markus Krall, chief executive of German precious-metal retailer Degussa, premiums in the retail market “have exploded.” The average price of products in shops is somewhere between 10 percent and 15 percent over spot prices, Krall explained, adding that he’s never seen that before. Demand has also hit the highest level he has ever experienced.

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Gold coins and bars in short supply

Gold coins and bars in short supply, premiums exploding
By Yogita Khatri

Small gold coins and bars, most popular among retail investors, are in big shortage due to high demand and supply disruptions amid coronavirus.

Gold dealers are desperately looking for clients those who want to sell the yellow metal, and are offering a rare 10-15% premium over spot prices, Bloomberg reported Thursday.

“We have a buyers’ waiting list and we emailed our clients seeing who wished to sell their gold. At this time there is roughly only one or two sellers for every 99 buyers,” Mark O’Byrne, founder of Dublin-based dealer GoldCore, was quoted as saying in the report.



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""GOLD"" is going to SCARE the CRAP out of the Central Banksters of Planet Earth!!!!!!!!!!!!!!