Friday, February 19, 2021 6:16:49 AM
*AM Metals Roundup* 5cent Friday Platinum Edition.....
5cents please.........Thank You
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Teresa Brewer 1955
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Platinum scores a 5% gain over the last two trading day
Thursday
February 18, 2021 21:15
Of all of the precious metals traded on the futures markets (gold, silver, platinum and palladium), it seems that platinum is in a group by itself as it has consistently risen for the last three consecutive weeks. In fact, three weeks ago, platinum futures open just below $1100 per ounce at $1096. Today platinum gained a total of $26.20, this basis the most active April 2021 Comex contract and is currently fixed at $1283.90.
One of the most impressive moves in the precious metals has to be platinum, considering that back in March 2020 when all of the precious metals had hit their lows and gold was trading at $1450 per ounce, platinum traded to an intraday low of $560 per ounce. That means in the time the gold rose from $1450 to current pricing platinum has more than doubled in price. In regards to the underlying reasons why we have seen platinum move so strongly to the upside it is simply a lack of supply and rising demand. The vast majority of platinum is mined in South Africa which produces roughly 80% of the world’s supply. Another factor that is key to the recent move in platinum is it is the only precious metal that has the properties which converts unburned hydrocarbons into carbon dioxide and water vapor. In fact, the demand from the auto industry accounts for the use of the vast majority of platinum production.
There is a new major application that will only increase the demand for platinum and that is in the automotive industry in which platinum demand will increase substantially. That is the bridge between modern gas-powered engines into electric vehicles, platinum is being researched to help make batteries more capable of meeting demands of transportation. Also, as a medium hybrid diesel engine which produce much less greenhouse gasses. Another type of engines has seen an increased growth especially in China. According to Trevor Raymond director of research at the World Platinum Investment Council, “Currently, most battery electric vehicles are no cleaner than an efficient modern diesel. Fuel cell electric vehicles are a very clean transport alternative, that will contribute to reducing global warming, when fuelled with green hydrogen. This technology depends upon the use of platinum.”
According to Reuters platinum has now risen to a six-year high this based upon the assumption that there will be a robust auto recovery after the pandemic sides. Platinum jumped over 3% yesterday and gained almost 2% in trading today.
According to Bart Melek, head of commodity strategies at TD securities said, ““We’re expecting demand for autos to increase globally as we move into a recovery phase. He also added that,” higher standards for pollution control will require more of the metal.”
He is not alone in his market sentiment as the major refiner Johnson Maffei said that both platinum and palladium which are using catalytic converters to clean car exhaust fumes could see supply shortfalls this year. With the volatility that has been intrinsic to silver, which is concurrently occurring with a narrow and bearish demeanor in gold, platinum seems to be a very solid choice in terms of investment in the precious metals.
For those who would like more information, simply use this link.
Wishing you as always, good trading,
By Gary Wagner
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Life expectantly in the US fell by a year, the first time it has done so since WW II.
Yay us.
Stocks took a dive yesterday but managed to gain quite a bit back.
Perhaps not yet, but one day in the not too distant future they are going to take a dive and then go down into a fairly impressive correction.
Gold held in unchanged in spite of a determined bear raid, again.
Silver not so much.
Option expiration for stocks today.
China gets back to business next week.
There is a Comex metals expiry on the 23rd, but it is not important.
https://jessescrossroadscafe.blogspot.com/
da bear raid attempt
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Coppers on fire today
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Platinum Power
19 February 2021
Of all of the precious metals traded on the futures markets (gold, silver, platinum and palladium), it seems that platinum is in a group by itself as it has consistently risen for the last three consecutive weeks.
We saw Gold slip down this week to its lowest close since June 2020, reaching $1,767.20 or 2279.85 AUD at 4PM AEST. While it does look like a bearish pattern is forming, Bulls are working to stabilise the market and fundamental factors remain positive. It looks like the recent down trend in Gold might have reached a support level aligning with post COVID-19 price collapse highs of May through June 2020. If this support level holds, this could act as a launchpad for a potentially big upside price trend.
Silver dropped slightly toward the end of the week to be $26.71 or 34.65 AUD per ounce at 4PM AEST, though has been less affected than gold.
Futures prices also dropped on both metals with Gold down 0.52% to $1,765 (4PM AEST) and silver down 1.05% to 26.795 (4PM AEST). The CME Delivery report shows that an incredible amount of contracts are already providing notice of a “Delivery Request”. As the delivery date draws nearer, we could see a supply squeeze for Gold and Silver becoming a very real component of price. The next few days of trading in Gold and Silver could become very volatile as global traders realize the demand for deliveries may squeeze prices much higher. Watch this space.
US
This week we saw startlingly high Core and non-Core Retail sales in the US, which came in at 5.90 and 5.30 per cent respectively, as consumers flocked to spend their stimulus checks in January. These blockbuster results were way higher than the consensus expectations of around 1.00 per cent, demonstrating unexpected strength from the consumer.
U.S. labor market continues to lose more momentum as more American workers than expected file for first-time unemployment benefits, and unemployment levels remain high.
Rising government bond yields are a focus of the marketplace this week and that competing asset does have the stock market bulls a bit worried. The U.S. Treasury 10-year note reached its highest yield in a year earlier this week, currently fetching 1.282%. If U.S. Treasury yields continue to rise, investors would be more inclined lock in those higher returns. For perspective, the German 10-year bond (bund) yield stands at -0.359% and the U.K. bond (gilt) yield is 0.585%.
Asian Markets
Mainland China markets were open Thursday after being closed several days for the Lunar New Year holiday.
Technical
Some of the strong retail sales data will reflect stimulus cheques landing in the hands of individuals and cycling through into the economy. Fixed income markets sold off through the week, with 10-year nominal yields spiking to 1.33 per cent on Wednesday as asset markets digested the positive economic news. Stocks remained steady, although the SPX (Standard and Poor Index) has had a narrow and indecisive week in the midst of some serious moves in bond markets.
In particular, real yields, adjusted for inflation, rocketed to minus 0.87 per cent, having traded as low as -1.09 on the 10th of February
The spot price of gold fell sharply after the US returned on the 16th after the President’s Day holiday as the Dollar Index rallied hard to peak at 91.05 mid-week and the above-mentioned economic data shook bonds.
The drop in the price of gold takes the price close to the Weekly Ichimoku cloud support at US$1760-61. That is also the December 2020 low, and the initial reaction should be to find support there. Downside targets extend to US$1734-1754. Above the overnight low, a recovery to US$1802 is likely, as far as the overnight low is maintained.
Outflows from Gold ETFs this week were small but steady. Open interest on the CME gold contract has shrunk by around 800,000 Tozs from last Thursday to Wednesday, the latest available data slice, suggesting an overall reduction in long positioning basis the price action.
Platinum has caught a real tailwind since mid-February. The driver here is optimism over economic recovery post-Covid, coupled with a market that is in deficit and looking ahead long term to the possibilities of a ’hydrogen’ economy. Platinum ETFs have risen by around 55,000 Tozs, and Managed Money positioning on NYMEX has grown by about 467,000 Tozs on NYMEX during February.
Platinum hit the US$1,331 target on our long-term Point and Figure targets, making a high this week of US$1,339. That has been followed by short-term weakness in prices, as prices often reverse after a major or long-term target has been reached. Both the fundamental and technical view support a strong platinum price.
Check out our platinum range here: https://www.abcbullion.com.au/store/platinum
In Other News.....
Nymex crude oil futures prices are weaker and trading around $60.70 a barrel. Bloomberg today reported, “With millions of Texans in the dark for a fourth day after the unusually cold weather caused widespread blackouts, the fallout for energy markets is becoming a worldwide problem. Almost 40% of U.S. crude production is now offline, helping push the global benchmark Brent price above $65 a barrel in Asia trading. While temperatures are forecast to rise this weekend, it could take weeks for production to be fully restored as operators need to assess wells for damage.”
https://www.abcbullion.com.au/investor-centre/pdf/platinum-power#.YC-WJvllDIX
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Institutional investors expect increased use of blockchain in asset management
Fifty per cent of institutional investors and wealth managers believe that, over the next three years, there will be a ‘dramatic’ increase in the use of blockchain technology within the asset management sector, and a further 44 per cent think there will be a slight increase.
That's according to a new study by Global Palladium Fund (GPF), which recently listed four metal Exchange Traded Commodities (ETCs) and is the first ETC provider to use blockchain technology to record bar information into distributed ledger technology thereby providing an extra layer of security and proof of ownership to the Issuer. The use of blockchain is in addition to the traditional recording processes used by the custodian.
https://www.institutionalassetmanager.co.uk/2021/02/17/295992/institutional-investors-expect-increased-use-blockchain-asset-management
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SA ready to manufacture and commercialise hydrogen fuels technology
The President said through its Hydrogen South Africa Strategy, government and its partners have successfully deployed hydrogen fuel cells to provide electricity in schools and to field hospitals established as part of the country's COVID-19 response.
Devdiscourse News Desk | Pretoria | Updated: 18-02-2021 19:55 IST | Created: 18-02-2021 19:55 IST
SA ready to manufacture and commercialise hydrogen fuels technology
Addressing a hybrid joint sitting of Parliament on Thursday, the President said the newly-established Platinum Valley will facilitate the commercialisation of home-grown intellectual property.
After over a decade of research and development around hydrogen fuel technology, President Cyril Ramaphosa says South Africa is now ready to manufacture and commercialise hydrogen fuels technology.
The President said this when he responded to a debate on the State of the Nation Address in Parliament on Thursday.
"For more than a decade, the government has been working with various partners, including the private sector and academia, to develop hydrogen fuel cell and lithium battery storage technologies.
"This work serves two important developmental objectives: it offers the possibility of a new, renewable source of energy while establishing new uses and new markets for the platinum group metals that are abundant in our country.
"Hydrogen and fuel cell technologies, which use platinum, offer an alternative source of clean electricity, while hydrogen allows for energy to be stored and delivered in a usable form," he said.
https://www.devdiscourse.com/article/business/1454445-sa-ready-to-manufacture-and-commercialise-hydrogen-fuels-technology
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Silver Price is About to Blow Sky High
February 18, 2021 39
6011
If the sleeping giants (aka the industrial users of silver) awaken to what is happening, they will want to buy everything available, making the…
Ed Steer on Palisades Gold Radio
Tom welcomes Ed Steer to the show, Ed writes a weekly subscriber column on the gold and silver markets. He brings us a bombshell overview of what is happening in the metals market.
To subscribe to our newsletter and get notified of new shows, please visit palisadesradio.ca?
Ed explains how tight the silver markets have become and why the Comex is attempting to roll over as many contracts as possible to avoid delivery. They have reduced the fees to rollover contracts to near zero. There is some backwardation in silver for contracts in late 2021, revealing weaknesses in their ability to deliver.
Thousands of traders use the Comex markets, but eight large investment banks control more than half of the paper metals market. These big players are short 412 million ounces of silver, and it’s them versus the world. The thousands of other traders are entirely net-long as they understand this scheme is ending. If these large players were to let silver go, the price would rapidly become a sizeable three-digit number.
He feels these investment banks were caught completely flat-footed by the actions in the market in recent weeks. They have been forced to double down on their shorts to keep the market suppressed. Ed says, “Right now, these guys are fighting for their lives.”
Physical premiums are through the roof if you can even find the metal. The lead times from the mints are growing, and it will be many months before dealers can fully restock. He says, “There is no physical metal to be had…the market is tight everywhere you look.”
If the sleeping giants (aka the industrial users of silver) awaken to what is happening, they will want to buy everything available, making the situation much worse. Those in power are now desperate as these problems could lead to a massive currency crisis worldwide.
He doesn’t believe these banks can cover their shorts, and March deliveries will be very interesting.
Ed cautions, “Things are now in motion that can’t be undone. It’s going to be like the long-term capital management collapse we’re talking trillions, not billions… Hopefully, there is a world left to survive in once this is all over.”
FULL SHOW NOTES AND LINKS HERE
Video>>> https://www.silverdoctors.com/silver/silver-news/silver-price-is-about-to-blow-sky-high/
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Platinum Group Metals Announces Positive Results of Annual General Meeting of Shareholders
Vancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - February 18, 2021) - Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" or the "Company") is pleased to announce positive results from its Annual General Meeting held on February 18, 2021 in Vancouver, BC.
The meeting had a turnout of shareholders representing 62.30% of its issued shares eligible to vote at the meeting. Shareholders strongly supported the appointment of the Board and the resolutions proposed.
The number of directors is fixed at six and on a show of hands the Shareholders elected management's six nominees for directors. Details of the proxy voting are as follows:
DIRECTOR NUMBER
OF SHARES PERCENTAGE
OF VOTES CAST
FOR FOR WITHHELD
R Michael Jones 39,006,439 99.64% 0.36%
Frank Hallam 38,252,553 97.72% 2.28%
Diana Walters 39,016,071 99.67% 0.33%
Timothy Marlow 38,200,364 97.58% 2.42%
John Copelyn 38,283,454 97.80% 2.20%
Stuart Harshaw 38,004,279 97.08% 2.92%
The re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year at a remuneration to be fixed by the directors was voted in favour by 99.24% of the Shareholders.
For more information on these matters, please refer to Platinum Group's information circular, available on SEDAR (www.sedar.com) or visit our website at www.platinumgroupmetals.net.
About Platinum Group Metals Ltd. and Waterberg Project
Platinum Group Metals Ltd. is the operator and majority owner of the Waterberg Project, a bulk underground palladium, platinum, gold and rhodium deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly advanced with the shareholders of Waterberg JV Resources (Pty) Ltd. ("Waterberg JV Co."), being Platinum Group, Impala Platinum Holdings Ltd., Japan Oil, Gas and Metals National Corporation, Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo").
In 2019, the Company founded Lion Battery Technologies Inc. in partnership with Anglo American Platinum Limited to support the use of palladium and platinum in lithium battery applications.
On behalf of the Board of
Platinum Group Metals Ltd.
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PM Complex Under Seige?
February 19, 2021
Rambus
Chartology
Lets start with the daily bar combo chart for the PM complex which shows the August trading range still under construction making lower lows and lower highs for the most part.
https://goldseek.com/article/pm-complex-under-seige
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$NKORF Palladium One Mining Inc. $PDM just filed 2 reports. View full report: SEDI:PDM
Palladium One Mining Inc. just filed a new SEDAR document:
Amended & restated technical report (NI 43-101) - English
https://www.sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00025712&issuerType=03&projectNo=03163170&docId=4890094
0
from #sedar, about 10 hours ago
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Everything's glittering except gold -- and financial journalism
Submitted by cpowell on Fri, 2021-02-19 00:37. Section: Daily Dispatches
Everything's Glittering Except Gold
By Mike Bird
The Wall Street Journal
Thursday, February 18, 2021
https://www.wsj.com/articles/everythings-glittering-except-gold-11613637...
You have to feel a little sorry for investors in gold. Central bankers and finance ministries have opened the cash sluices, and what looks like a speculative boom is under way in many corners of global financial markets. But over the past 12 months the yellow metal -- the original darling of skeptics of spendthrift governments -- has underperformed the S&P 500.
At a bit below $1,800 a troy ounce, gold prices are far below the highs of around $2,050 reached in early August.
Watching bitcoin hit $50,000, SoftBank's stock price surpass its dot-com boom high and even silver catch a bid from retail traders must be particularly difficult for holders of gold. Many had expected that the original speculative asset would prosper under the unusual market conditions of the past year.
But it simply hasn't worked out that way.
The metal's recent performance should be confirmation, if any were really needed, that buyers of gold are really just buying inflation-protected government bonds under a different name. Since 2005, the yield on 10-year TIPS -- inflation indexed U.S. government bonds -- has had an R-squared relationship of 0.81 with the daily price of gold, meaning the moves in one explain the majority of moves in the other.
A plethora of other explanations for gold prices, like physical demand, flows from central banks, and the rising popularity of exchange-traded funds may have some meaning, but those have been minnows in terms of their impact on the direction of prices. If real interest rates aren't falling, it is hard for gold to sustain any meaningful gains. If they aren't rising, it is hard for gold to fall much. Beyond that, there isn't much going on except to the most committed and involved analysts.
So what happens to the price now mostly depends on your view of the Federal Reserve's actions and the capacity of the U.S. economy: 10-year market inflation expectations are at their highest levels since mid-2014, but bond yields have risen to match.
Investors who have a strong view on whether inflation is coming and if so whether the Fed would react quickly against it might make a bet on gold. Otherwise it is hard to see the appeal.
http://www.gata.org/node/20929
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Write to Mike Bird at Mike.Bird@wsj.com.
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Thursday, February 18, 2021
Dear Mr. Bird:
Your commentary in the Journal today, "Everything's Glittering Except Gold" --
https://www.wsj.com/articles/everythings-glittering-except-gold-11613637...
-- omitted the primary explanation for the question you raised. That is, daily intervention by central banks in the gold futures and related markets -- longstanding Western central bank policy.
This intervention was documented extensively in a presentation I made this week to the Gold Week Africa conference in Lagos, Nigeria:
http://gata.org/node/20925
I told the conference that the first rule of mainstream financial journalism, including the Journal's own journalism, is never to put to a central bank a critical question about gold, or about anything else for that matter.
Please consider breaking that rule.
With good wishes.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Have a good weekend everyone
Stay Safe
Spring is on it's way
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...............
5cents please.........Thank You
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Teresa Brewer 1955 .
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Platinum scores a 5% gain over the last two trading day
Thursday
February 18, 2021 21:15
Of all of the precious metals traded on the futures markets (gold, silver, platinum and palladium), it seems that platinum is in a group by itself as it has consistently risen for the last three consecutive weeks. In fact, three weeks ago, platinum futures open just below $1100 per ounce at $1096. Today platinum gained a total of $26.20, this basis the most active April 2021 Comex contract and is currently fixed at $1283.90.
One of the most impressive moves in the precious metals has to be platinum, considering that back in March 2020 when all of the precious metals had hit their lows and gold was trading at $1450 per ounce, platinum traded to an intraday low of $560 per ounce. That means in the time the gold rose from $1450 to current pricing platinum has more than doubled in price. In regards to the underlying reasons why we have seen platinum move so strongly to the upside it is simply a lack of supply and rising demand. The vast majority of platinum is mined in South Africa which produces roughly 80% of the world’s supply. Another factor that is key to the recent move in platinum is it is the only precious metal that has the properties which converts unburned hydrocarbons into carbon dioxide and water vapor. In fact, the demand from the auto industry accounts for the use of the vast majority of platinum production.
There is a new major application that will only increase the demand for platinum and that is in the automotive industry in which platinum demand will increase substantially. That is the bridge between modern gas-powered engines into electric vehicles, platinum is being researched to help make batteries more capable of meeting demands of transportation. Also, as a medium hybrid diesel engine which produce much less greenhouse gasses. Another type of engines has seen an increased growth especially in China. According to Trevor Raymond director of research at the World Platinum Investment Council, “Currently, most battery electric vehicles are no cleaner than an efficient modern diesel. Fuel cell electric vehicles are a very clean transport alternative, that will contribute to reducing global warming, when fuelled with green hydrogen. This technology depends upon the use of platinum.”
According to Reuters platinum has now risen to a six-year high this based upon the assumption that there will be a robust auto recovery after the pandemic sides. Platinum jumped over 3% yesterday and gained almost 2% in trading today.
According to Bart Melek, head of commodity strategies at TD securities said, ““We’re expecting demand for autos to increase globally as we move into a recovery phase. He also added that,” higher standards for pollution control will require more of the metal.”
He is not alone in his market sentiment as the major refiner Johnson Maffei said that both platinum and palladium which are using catalytic converters to clean car exhaust fumes could see supply shortfalls this year. With the volatility that has been intrinsic to silver, which is concurrently occurring with a narrow and bearish demeanor in gold, platinum seems to be a very solid choice in terms of investment in the precious metals.
For those who would like more information, simply use this link.
Wishing you as always, good trading,
By Gary Wagner
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Life expectantly in the US fell by a year, the first time it has done so since WW II.
Yay us.
Stocks took a dive yesterday but managed to gain quite a bit back.
Perhaps not yet, but one day in the not too distant future they are going to take a dive and then go down into a fairly impressive correction.
Gold held in unchanged in spite of a determined bear raid, again.
Silver not so much.
Option expiration for stocks today.
China gets back to business next week.
There is a Comex metals expiry on the 23rd, but it is not important.
https://jessescrossroadscafe.blogspot.com/
da bear raid attempt
.
Coppers on fire today
.
Platinum Power
19 February 2021
Of all of the precious metals traded on the futures markets (gold, silver, platinum and palladium), it seems that platinum is in a group by itself as it has consistently risen for the last three consecutive weeks.
We saw Gold slip down this week to its lowest close since June 2020, reaching $1,767.20 or 2279.85 AUD at 4PM AEST. While it does look like a bearish pattern is forming, Bulls are working to stabilise the market and fundamental factors remain positive. It looks like the recent down trend in Gold might have reached a support level aligning with post COVID-19 price collapse highs of May through June 2020. If this support level holds, this could act as a launchpad for a potentially big upside price trend.
Silver dropped slightly toward the end of the week to be $26.71 or 34.65 AUD per ounce at 4PM AEST, though has been less affected than gold.
Futures prices also dropped on both metals with Gold down 0.52% to $1,765 (4PM AEST) and silver down 1.05% to 26.795 (4PM AEST). The CME Delivery report shows that an incredible amount of contracts are already providing notice of a “Delivery Request”. As the delivery date draws nearer, we could see a supply squeeze for Gold and Silver becoming a very real component of price. The next few days of trading in Gold and Silver could become very volatile as global traders realize the demand for deliveries may squeeze prices much higher. Watch this space.
US
This week we saw startlingly high Core and non-Core Retail sales in the US, which came in at 5.90 and 5.30 per cent respectively, as consumers flocked to spend their stimulus checks in January. These blockbuster results were way higher than the consensus expectations of around 1.00 per cent, demonstrating unexpected strength from the consumer.
U.S. labor market continues to lose more momentum as more American workers than expected file for first-time unemployment benefits, and unemployment levels remain high.
Rising government bond yields are a focus of the marketplace this week and that competing asset does have the stock market bulls a bit worried. The U.S. Treasury 10-year note reached its highest yield in a year earlier this week, currently fetching 1.282%. If U.S. Treasury yields continue to rise, investors would be more inclined lock in those higher returns. For perspective, the German 10-year bond (bund) yield stands at -0.359% and the U.K. bond (gilt) yield is 0.585%.
Asian Markets
Mainland China markets were open Thursday after being closed several days for the Lunar New Year holiday.
Technical
Some of the strong retail sales data will reflect stimulus cheques landing in the hands of individuals and cycling through into the economy. Fixed income markets sold off through the week, with 10-year nominal yields spiking to 1.33 per cent on Wednesday as asset markets digested the positive economic news. Stocks remained steady, although the SPX (Standard and Poor Index) has had a narrow and indecisive week in the midst of some serious moves in bond markets.
In particular, real yields, adjusted for inflation, rocketed to minus 0.87 per cent, having traded as low as -1.09 on the 10th of February
The spot price of gold fell sharply after the US returned on the 16th after the President’s Day holiday as the Dollar Index rallied hard to peak at 91.05 mid-week and the above-mentioned economic data shook bonds.
The drop in the price of gold takes the price close to the Weekly Ichimoku cloud support at US$1760-61. That is also the December 2020 low, and the initial reaction should be to find support there. Downside targets extend to US$1734-1754. Above the overnight low, a recovery to US$1802 is likely, as far as the overnight low is maintained.
Outflows from Gold ETFs this week were small but steady. Open interest on the CME gold contract has shrunk by around 800,000 Tozs from last Thursday to Wednesday, the latest available data slice, suggesting an overall reduction in long positioning basis the price action.
Platinum has caught a real tailwind since mid-February. The driver here is optimism over economic recovery post-Covid, coupled with a market that is in deficit and looking ahead long term to the possibilities of a ’hydrogen’ economy. Platinum ETFs have risen by around 55,000 Tozs, and Managed Money positioning on NYMEX has grown by about 467,000 Tozs on NYMEX during February.
Platinum hit the US$1,331 target on our long-term Point and Figure targets, making a high this week of US$1,339. That has been followed by short-term weakness in prices, as prices often reverse after a major or long-term target has been reached. Both the fundamental and technical view support a strong platinum price.
Check out our platinum range here: https://www.abcbullion.com.au/store/platinum
In Other News.....
Nymex crude oil futures prices are weaker and trading around $60.70 a barrel. Bloomberg today reported, “With millions of Texans in the dark for a fourth day after the unusually cold weather caused widespread blackouts, the fallout for energy markets is becoming a worldwide problem. Almost 40% of U.S. crude production is now offline, helping push the global benchmark Brent price above $65 a barrel in Asia trading. While temperatures are forecast to rise this weekend, it could take weeks for production to be fully restored as operators need to assess wells for damage.”
https://www.abcbullion.com.au/investor-centre/pdf/platinum-power#.YC-WJvllDIX
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Institutional investors expect increased use of blockchain in asset management
Fifty per cent of institutional investors and wealth managers believe that, over the next three years, there will be a ‘dramatic’ increase in the use of blockchain technology within the asset management sector, and a further 44 per cent think there will be a slight increase.
That's according to a new study by Global Palladium Fund (GPF), which recently listed four metal Exchange Traded Commodities (ETCs) and is the first ETC provider to use blockchain technology to record bar information into distributed ledger technology thereby providing an extra layer of security and proof of ownership to the Issuer. The use of blockchain is in addition to the traditional recording processes used by the custodian.
https://www.institutionalassetmanager.co.uk/2021/02/17/295992/institutional-investors-expect-increased-use-blockchain-asset-management
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SA ready to manufacture and commercialise hydrogen fuels technology
The President said through its Hydrogen South Africa Strategy, government and its partners have successfully deployed hydrogen fuel cells to provide electricity in schools and to field hospitals established as part of the country's COVID-19 response.
Devdiscourse News Desk | Pretoria | Updated: 18-02-2021 19:55 IST | Created: 18-02-2021 19:55 IST
SA ready to manufacture and commercialise hydrogen fuels technology
Addressing a hybrid joint sitting of Parliament on Thursday, the President said the newly-established Platinum Valley will facilitate the commercialisation of home-grown intellectual property.
After over a decade of research and development around hydrogen fuel technology, President Cyril Ramaphosa says South Africa is now ready to manufacture and commercialise hydrogen fuels technology.
The President said this when he responded to a debate on the State of the Nation Address in Parliament on Thursday.
"For more than a decade, the government has been working with various partners, including the private sector and academia, to develop hydrogen fuel cell and lithium battery storage technologies.
"This work serves two important developmental objectives: it offers the possibility of a new, renewable source of energy while establishing new uses and new markets for the platinum group metals that are abundant in our country.
"Hydrogen and fuel cell technologies, which use platinum, offer an alternative source of clean electricity, while hydrogen allows for energy to be stored and delivered in a usable form," he said.
https://www.devdiscourse.com/article/business/1454445-sa-ready-to-manufacture-and-commercialise-hydrogen-fuels-technology
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Silver Price is About to Blow Sky High
February 18, 2021 39
6011
If the sleeping giants (aka the industrial users of silver) awaken to what is happening, they will want to buy everything available, making the…
Ed Steer on Palisades Gold Radio
Tom welcomes Ed Steer to the show, Ed writes a weekly subscriber column on the gold and silver markets. He brings us a bombshell overview of what is happening in the metals market.
To subscribe to our newsletter and get notified of new shows, please visit palisadesradio.ca?
Ed explains how tight the silver markets have become and why the Comex is attempting to roll over as many contracts as possible to avoid delivery. They have reduced the fees to rollover contracts to near zero. There is some backwardation in silver for contracts in late 2021, revealing weaknesses in their ability to deliver.
Thousands of traders use the Comex markets, but eight large investment banks control more than half of the paper metals market. These big players are short 412 million ounces of silver, and it’s them versus the world. The thousands of other traders are entirely net-long as they understand this scheme is ending. If these large players were to let silver go, the price would rapidly become a sizeable three-digit number.
He feels these investment banks were caught completely flat-footed by the actions in the market in recent weeks. They have been forced to double down on their shorts to keep the market suppressed. Ed says, “Right now, these guys are fighting for their lives.”
Physical premiums are through the roof if you can even find the metal. The lead times from the mints are growing, and it will be many months before dealers can fully restock. He says, “There is no physical metal to be had…the market is tight everywhere you look.”
If the sleeping giants (aka the industrial users of silver) awaken to what is happening, they will want to buy everything available, making the situation much worse. Those in power are now desperate as these problems could lead to a massive currency crisis worldwide.
He doesn’t believe these banks can cover their shorts, and March deliveries will be very interesting.
Ed cautions, “Things are now in motion that can’t be undone. It’s going to be like the long-term capital management collapse we’re talking trillions, not billions… Hopefully, there is a world left to survive in once this is all over.”
FULL SHOW NOTES AND LINKS HERE
Video>>> https://www.silverdoctors.com/silver/silver-news/silver-price-is-about-to-blow-sky-high/
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Platinum Group Metals Announces Positive Results of Annual General Meeting of Shareholders
Vancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - February 18, 2021) - Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) ("Platinum Group" or the "Company") is pleased to announce positive results from its Annual General Meeting held on February 18, 2021 in Vancouver, BC.
The meeting had a turnout of shareholders representing 62.30% of its issued shares eligible to vote at the meeting. Shareholders strongly supported the appointment of the Board and the resolutions proposed.
The number of directors is fixed at six and on a show of hands the Shareholders elected management's six nominees for directors. Details of the proxy voting are as follows:
DIRECTOR NUMBER
OF SHARES PERCENTAGE
OF VOTES CAST
FOR FOR WITHHELD
R Michael Jones 39,006,439 99.64% 0.36%
Frank Hallam 38,252,553 97.72% 2.28%
Diana Walters 39,016,071 99.67% 0.33%
Timothy Marlow 38,200,364 97.58% 2.42%
John Copelyn 38,283,454 97.80% 2.20%
Stuart Harshaw 38,004,279 97.08% 2.92%
The re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year at a remuneration to be fixed by the directors was voted in favour by 99.24% of the Shareholders.
For more information on these matters, please refer to Platinum Group's information circular, available on SEDAR (www.sedar.com) or visit our website at www.platinumgroupmetals.net.
About Platinum Group Metals Ltd. and Waterberg Project
Platinum Group Metals Ltd. is the operator and majority owner of the Waterberg Project, a bulk underground palladium, platinum, gold and rhodium deposit located in South Africa. The Waterberg Project was discovered by Platinum Group and is being jointly advanced with the shareholders of Waterberg JV Resources (Pty) Ltd. ("Waterberg JV Co."), being Platinum Group, Impala Platinum Holdings Ltd., Japan Oil, Gas and Metals National Corporation, Hanwa Co. Ltd. and Mnombo Wethu Consultants (Pty) Ltd. ("Mnombo").
In 2019, the Company founded Lion Battery Technologies Inc. in partnership with Anglo American Platinum Limited to support the use of palladium and platinum in lithium battery applications.
On behalf of the Board of
Platinum Group Metals Ltd.
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PM Complex Under Seige?
February 19, 2021
Rambus
Chartology
Lets start with the daily bar combo chart for the PM complex which shows the August trading range still under construction making lower lows and lower highs for the most part.
https://goldseek.com/article/pm-complex-under-seige
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$NKORF Palladium One Mining Inc. $PDM just filed 2 reports. View full report: SEDI:PDM
Palladium One Mining Inc. just filed a new SEDAR document:
Amended & restated technical report (NI 43-101) - English
https://www.sedar.com/GetFile.do?lang=EN&docClass=24&issuerNo=00025712&issuerType=03&projectNo=03163170&docId=4890094
0
from #sedar, about 10 hours ago
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Everything's glittering except gold -- and financial journalism
Submitted by cpowell on Fri, 2021-02-19 00:37. Section: Daily Dispatches
Everything's Glittering Except Gold
By Mike Bird
The Wall Street Journal
Thursday, February 18, 2021
https://www.wsj.com/articles/everythings-glittering-except-gold-11613637...
You have to feel a little sorry for investors in gold. Central bankers and finance ministries have opened the cash sluices, and what looks like a speculative boom is under way in many corners of global financial markets. But over the past 12 months the yellow metal -- the original darling of skeptics of spendthrift governments -- has underperformed the S&P 500.
At a bit below $1,800 a troy ounce, gold prices are far below the highs of around $2,050 reached in early August.
Watching bitcoin hit $50,000, SoftBank's stock price surpass its dot-com boom high and even silver catch a bid from retail traders must be particularly difficult for holders of gold. Many had expected that the original speculative asset would prosper under the unusual market conditions of the past year.
But it simply hasn't worked out that way.
The metal's recent performance should be confirmation, if any were really needed, that buyers of gold are really just buying inflation-protected government bonds under a different name. Since 2005, the yield on 10-year TIPS -- inflation indexed U.S. government bonds -- has had an R-squared relationship of 0.81 with the daily price of gold, meaning the moves in one explain the majority of moves in the other.
A plethora of other explanations for gold prices, like physical demand, flows from central banks, and the rising popularity of exchange-traded funds may have some meaning, but those have been minnows in terms of their impact on the direction of prices. If real interest rates aren't falling, it is hard for gold to sustain any meaningful gains. If they aren't rising, it is hard for gold to fall much. Beyond that, there isn't much going on except to the most committed and involved analysts.
So what happens to the price now mostly depends on your view of the Federal Reserve's actions and the capacity of the U.S. economy: 10-year market inflation expectations are at their highest levels since mid-2014, but bond yields have risen to match.
Investors who have a strong view on whether inflation is coming and if so whether the Fed would react quickly against it might make a bet on gold. Otherwise it is hard to see the appeal.
http://www.gata.org/node/20929
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Write to Mike Bird at Mike.Bird@wsj.com.
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Thursday, February 18, 2021
Dear Mr. Bird:
Your commentary in the Journal today, "Everything's Glittering Except Gold" --
https://www.wsj.com/articles/everythings-glittering-except-gold-11613637...
-- omitted the primary explanation for the question you raised. That is, daily intervention by central banks in the gold futures and related markets -- longstanding Western central bank policy.
This intervention was documented extensively in a presentation I made this week to the Gold Week Africa conference in Lagos, Nigeria:
http://gata.org/node/20925
I told the conference that the first rule of mainstream financial journalism, including the Journal's own journalism, is never to put to a central bank a critical question about gold, or about anything else for that matter.
Please consider breaking that rule.
With good wishes.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Have a good weekend everyone
Stay Safe
Spring is on it's way
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